Perficient
JUNE 17, 2020
We’re excited to announce that Perficient has expanded to South America with the acquisition of Productora de Software S.A.S. (PSL), a nearshore software development company based in Medellin, Colombia. With this acquisition, Perficient furthers our commitment to optimized global delivery as an approach to help lower delivery costs while maintaining high quality.
Chris Skinner
JUNE 17, 2020
I was having a bit of ding-dong over my article about the coronavirus pandemic being perfectly predictable and not a black swan. There are many who believe the reaction to the pandemic is a black swan, as in the lockdown of Planet Earth. Hmmm … what reaction did we think … The post This is no Black Swan (Part Two) appeared first on Chris Skinner's blog.
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Perficient
JUNE 17, 2020
Before the COVID-19 pandemic, retailers were already seeing enthusiasm from customers for more convenient ways to interact during the purchasing process. While some retailers have offered limited order pickup options for some time, this was often limited to certain verticals or a small sub-set of products. In the past few years, retail innovations such as order pickup, delivery services, and same-day delivery have grown in popularity.
Accenture
JUNE 17, 2020
At present, the lack of disclosure of environmental, social and governance (ESG) data by many corporations creates asymmetric information. Research from Accenture, Hermes and non-profit disclosure advocate CDP identified environmental risks with a combined potential impact of $699bn. Despite the immense value at stake, 40 percent of businesses fail to capture or report the financial….
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Now is the time for lenders to prioritize their digital transformation initiatives in preparation for the lending rebound. Rising competition and ever-increasing customer demands for speed and efficiency are forcing financial institutions to embrace digital transformation. This shift can feel overwhelming—where do you begin? This infographic illustrates automation demands and shows you how loan document automation serves as an essential step to increase profits and provide the best lending exper
Chris Skinner
JUNE 17, 2020
Things we’re reading today include … Visa predicts ‘permanent’ shift in consumer spending habits Commerzbank fined £38m by UK watchdog for money-laundering failings HSBC to press on with 35,000 job cuts Coronavirus: Money printer hopes virus crisis boosts demand for fresh bank notes Dollar and yen gain on worries about … The post Things worth reading: 18th June 2020 appeared first on Chris Skinner's blog.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Accenture
JUNE 17, 2020
Change is hard—and as a species, we’re hard-wired to resist it. But as recent world events have shown us, change is inevitable. Financial services players of all sizes and specialties are choosing to be proactive in the face of change, by transforming their digital capabilities. Lenders and lessors, in particular, are modernizing their lending and….
PYMNTS
JUNE 17, 2020
The dramatic consumer shift to Digital 3.0 — predicted months ago by the PYMNTS COVID-19 tracker work — is accounting for almost half of the retail growth in the US. That’s the key finding from a new report from Deloitte, whose data is actually lacking the May sales spike of 17 percent. It found that eCommerce growth as of May 1 was up 68 percent, surpassing 40 percent of total retail sales.
Payments Source
JUNE 17, 2020
E-commerce sales boomed during the height of the coronavirus when consumers were stuck at home, and merchants had no choice but to accommodate the surge. But some retail industry observers are concerned about potential long-term costs from the pandemic.
PYMNTS
JUNE 17, 2020
While many patients are avoiding office visits over fears they could catch COVID-19, doctors say the primary reason jobless Americans are staying away from healthcare providers is because they can’t afford to seek medical care, The New York Times reported. Kristina Hartman of Texas should know. The 58-year-old North Garland resident lost her job as administrator and had little choice but to cut back on health appointments.
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In this report, you’ll find a comprehensive analysis of survey responses from executives at banks, credit unions, and insurance companies concerning their organization’s current and future use of automation. The report’s key insights include: Which types of automation are saving organizations the most time and money How to overcome the biggest barriers to automation implementation and adoption Why automation investments will continue to grow over the next few years How much you could save in 202
Payments Source
JUNE 17, 2020
Traditional U.K. businesses found innovative ways to serve their customers under coronavirus restrictions. Iconic London black taxi cabs, independent local community pharmacies, old-fashioned pubs, and QSRs have turned to in-app mobile payments to enable their businesses to carry on.
PYMNTS
JUNE 17, 2020
A growing number of nations are looking to develop digital versions of their currencies, and now there might be regional initiatives taking shape to target the U.S. dollar’s supremacy on the global stage. For instance, Nikkei Asian Review recently reported that Chinese officials are mulling developing an “East Asia digital currency” in what might be a new front in the race among nations to issue fiat rendered in bits and bytes.
Bobsguide
JUNE 17, 2020
Before chairing Pay.UK, the UK’s standard setting body for retail payments, Melanie Johnson chaired The UK Cards Association – now part of UK Finance – for eight years. She talked to bobsguide about the UK’s new payment architecture (NPA), reducing fraud and overseeing the.
PYMNTS
JUNE 17, 2020
Amazon customers in 12 countries across North America, Latin America, the Middle East and Europe will have their stored credit card credentials tokenized, Mastercard announced Wednesday (June 17). By replacing a shopper’s card number with a token, payment information is unique to each individual transaction and can be used only by the merchant that requested it, the company said.
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Commercial lending is on the verge of a resurgence, but traditional processes are an obstacle. Explore the top 3 reasons for resistance to digital transformation and how overcoming them can pave the way for growth and efficiency. Discover why embracing automation and digital solutions is crucial for success in today's competitive landscape. Discover how GoDocs helps commercial lenders in the digital era with seamless integration and a borrower-focused approach.
TheGuardian
JUNE 17, 2020
CMV scrambles for funding after failing to secure £25m loan from Barclays Coronavirus – latest updates See all our coronavirus coverage The British cruise line company Cruise and Maritime Voyages is in talks with potential lenders and investors as it scrambles to secure funding to see it through the coronavirus pandemic. The company, which employs 4,000 people in the UK, Australia and the US, is in emergency discussions with prospective investors and lenders after a potential loan deal collapsed
PYMNTS
JUNE 17, 2020
U.S. bank profits took a hit of 69.6 percent in profits in the first quarter of the year compared to the same time last year, according to Reuters. The profits only hit $18.5 billion as the coronavirus pandemic continued to cause lenders to write off delinquent debt and horde billions to prevent more losses later on. According to the Federal Deposit Insurance Corporation (FDIC), over half of all banks ended up reporting a decline in profits, and 7.3 percent of lenders were unprofitable — the lar
Payments Source
JUNE 17, 2020
Remitly and TransferWise are benefiting from consumers' shift to digital payments and a turn toward banking services as global remittance volumes drop.
PYMNTS
JUNE 17, 2020
A conflict between Amazon CEO Jeff Bezos and Saudi Crown Prince Mohammed bin Salman didn’t derail the eCommerce giant’s launch of its new website in Saudi Arabia, Reuters reported. The website is a re-branding of Middle Eastern eCommerce site Souq.com , which was acquired by Amazon in 2017, PYMNTS reported. Last year, the company converted Souq’s website in the United Arab Emirates to an Amazon-branded one, amazon.ae.
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Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.
ABA Community Banking
JUNE 17, 2020
The time is right to leverage the experiences of the past few months to make significant and sustainable changes to the branch environment. The post When Will Retail Banking Return to ‘Normal’? Should It? appeared first on ABA Banking Journal.
PYMNTS
JUNE 17, 2020
The government of Austria is backing the creation of a pandemic-related mobile application based on the blockchain, CoinDesk reported. Its Federal Ministry for Digital and Economic Affairs provided a grant of $67,600 to the QualiSig program that taps into portions of the country’s digital identity infrastructure to make prototypes involving wellness data, fraud prevention and fake news.
Payments Source
JUNE 17, 2020
Through employee education and deploying tools that allow you to rapidly thwart threats internally and externally, you can reduce the risk of payments fraud and gain greater peace of mind, says Fleetcor's Scott duFour.
PYMNTS
JUNE 17, 2020
Securing loans or credit has never been easy for small and medium-sized businesses (SMBs). Now, InstaReM, the SMB and consumer operation of Singapore-based FinTech Nium , is offering a solution to get these companies access to cash. Dubbed BizPay, the online platform enables businesses to use their corporate cards as a funding source for supplier payments.
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Get ready for the wave of $1.2 trillion in commercial debt maturing in the next 24 months with GoDocs' ModDocs® platform. Traditional loan modifications are slow, expensive, and prone to errors, which put lenders at risk. But with ModDocs®, you can enjoy an innovative solution that eliminates attorney fees, allows on-the-fly loan modifications, and ensures compliance.
Banking Exchange
JUNE 17, 2020
Total deposits in FDIC-insured banks increased by a record $1.2 billion between January and March, data shows Risk Management Covid19 PPP The Economy Feature Feature3 Fair Lending.
PYMNTS
JUNE 17, 2020
Keeping the trade engines moving is vital to the recovery of the global economy, but even as deals are struck and sales are made, businesses aren’t guaranteed the cash flow to sustain their operations. Today, B2B payment terms are in dramatic flux, while supply chain disruptions have led to bottlenecks that leave some vendors in short supply of cash.
TheGuardian
JUNE 17, 2020
VBS Mutual collapsed in 2018 with £100m of debts allegedly looted in ‘pattern of racketeering’ A number of people have been arrested by police investigating one of South Africa’s most notorious corruption scandals, the looting and collapse of VBS Mutual Bank. VBS, which held the savings of many disadvantaged people and local municipalities, collapsed with more than £100m in debts in 2018.
PYMNTS
JUNE 17, 2020
It may not look like it yet, but business travel is headed for a comeback. At least, that’s what commercial card technology players believe, with this week’s rundown of the latest initiatives in corporate card solutions placing a focus on returning business trip volume. At the broader level, commercial card innovators — both within the T&E arena and elsewhere — are pressing further into the spend management space, heightening the ability for businesses to control and analyze expe
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As we step into 2024, the lending landscape evolves rapidly with technology, regulations, and market dynamics driving change. For banks and financial institutions to stay competitive and meet the evolving needs of their customers, these drivers must be understood and engaged with. Lenders can anticipate significant transformation fueled by technological advancements, regulatory shifts, and changing consumer behaviors.
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