Finicity Automates Lending Software | PYMNTS.com

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In digital banking today, seamless bill payment fosters customer loyalty, Finicity automates loan disbursements, and Lyft strives to meet the payment needs of drivers.

Finicity Mastercard Adds Automation To Your Loan Disbursement Software

Finicity, the fintech company Mastercard, on Thursday (Aug. 26) announced the expansion of its one-touch mortgage verification service, which will now be integrated into ICE Mortgage Technology, according to a press release. Software integration allows borrowers to seamlessly grant authorization to ensure lenders can receive timely verification of assets, income, and employment.

ICE Mortgage Technology is part of Intercontinental Exchange, Inc., the world’s leading provider of data, technology and market infrastructure, it said. The joint efforts are aimed at dramatically reducing processing time and improving the quality of service for borrowers. Freddie Mac and Fannie Mae can accept digital verification.

Uninterrupted bill payment – a new tool for customer loyalty

In the latest Treasurer’s Guide to Optimizing Payments with Augmented Reality: Solving the Internet Bill Paying Challenge, PYMNTS takes a close look at how the bill-paying needs of both businesses and consumers are changing, and why these changes are critical for financial institutions. so that online invoice payments remain digital throughout the entire process. It also explores how these changes could affect the way payments and banking are processed in the future.

Companies are becoming increasingly aware of the need to digitize their payment processes, but this is easier said than done for organizations that still use paper documents. Paper invoices continue to be more widely used by US businesses than their virtual counterparts, with 75 percent of the roughly 25 billion invoices sent annually still require manual processing.

Lyft: happy with fast payments for workers

Kaushik Subramanian, vice president of payments at San Francisco-based Lyft giant, told PYMNTS that identifying the banking and payment needs of drivers in the US and Canada is one of the company’s core concerns. To understand the financial needs of drivers, Lyft conducted user surveys and formed driver advisory boards, he said. The information gained has allowed the platform to develop innovations that give drivers access to their earnings when and where they need them.

“Initially, we offered drivers only weekly payments to their bank accounts,” Subramanian said. “However, after talking to the driver community, we learned that many of them needed to pay more often. Fast and accurate payment is incredibly important for drivers. ”

He added that almost all Lyft drivers are students or work in this capacity to supplement their income, so it is of the utmost importance for the company to create products that are adapted to the lifestyles of its drivers.

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NEW PYMNTS DATA: 58 PERCENT OF MULTINATIONAL FIRMS USE CRYPTOCURRENCY

O: Despite price volatility and regulatory uncertainty, a new PYMNTS study shows that 58 percent of multinationals already use at least one form of cryptocurrency, especially when moving funds across borders. In a new roundup of Cryptocurrency, Blockchain and Global Business, in collaboration with PYMNTS and Circle, 500 executives look at the potential and pitfalls that cryptocurrency faces as it moves into the financial mainstream.

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