Chris Skinner
JUNE 30, 2020
I recently did a podcast and webinar with the Institute for International Finance (IIF). The timing was great because they’ve just produced a set of three reports about digital transformation in partnership with Deloitte. I can thoroughly recommend the three reports so here they are: Realizing the Digital Promise: Part … The post Realising the digital dream (free research) appeared first on Chris Skinner's blog.
Perficient
JUNE 30, 2020
The use of Scheduled and Opportunistic Counting will improve your inventory controls. Cycle Counting utilizes both of these methods of counting. The utilization of both methods will increase the accuracy of your on-hand reporting. Inventory accountants need this to confidently and accurately report these numbers to investors and banks. So, what exactly is scheduled and opportunistic counting?
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Chris Skinner
JUNE 30, 2020
Things we’re reading today include: Fintechs distance themselves from Wirecard Barnier rejects UK bid to preserve City’s rights via trade deal Coronavirus: How lockdown has affected my money Coronavirus: UK economy hit by worst contraction in 41 years UK on track for V-shaped recovery, says Bank of England economist The … The post Things worth reading: 1st July 2020 appeared first on Chris Skinner's blog.
Perficient
JUNE 30, 2020
In my last post, I shared the primary insights you need to pull together a Now/New/Next portfolio and get started on making sense of where you stand in the market. In this post, I’ll share how to use those insights to make sense of what to do about it. . The Approach. For most of us, there is no shortage of problems to solve or great ideas to consider.
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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
Payments Dive
JUNE 30, 2020
Wirecard North America officials said the company was looking for a new owner as the multi-billion accounting scandal at the German-based payments firm reverberated across the globe. UK regulators reached agreement to let operations resume there.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
JUNE 30, 2020
The pandemic may be here for a while. But bit by bit, economies are reopening and taking tentative steps toward normalcy. The “new normal,” however, for firms across any industry — but especially across the payments and commerce spheres — must include a “digital-first” mindset. We queried 35 payments executives about their individual efforts to fast-track the leap to digital and recount what has happened in the past 12 weeks — and what will need to happen moving forward to keep that digital shif
Perficient
JUNE 30, 2020
Many Energy companies that are running Oracle ERP, SCM, and EPM solutions are working on their roadmap and deciding whether to cross the chasm and move to the Cloud or upgrade their on-premise applications. Change Management is an important part of such a decision and is a critical part of the roadmap to be considered in both options. Nevertheless, success will be defined in two factors; A flawless technology solution that fits the project’s requirements.
PYMNTS
JUNE 30, 2020
The pandemic has upended daily life – and in payments, it is moving analog, face-to-face transactions toward the digital realm. In an interview with PYMNTS, Michael Bermingham, co-founder and chief business officer for Nium , said the pandemic has been changing the very nature of cross-border payments. That’s due in part to the fact that across the globe, businesses have shuttered in the wake of lockdowns and government mandates – including money transfer agents and locations.
Perficient
JUNE 30, 2020
Last week was clearly busy for Oracle. I attended three online events to learn more about Clinical One as the Data Collection capabilities were launched. . Oracle revealed that Clinical One Data Collection will: . Save time: Build a study in weeks instead of months ; make mid – study changes in real time ; deploy them in minutes without any cost .
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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
Abrigo
JUNE 30, 2020
Key Takeaways FinCEN released guidance for financial institutions around banking hemp-related businesses. CDD requirements are risk-based and require the grower to provide their compliance with licensing requirements. SARs should only be filed if suspicious activity is detected beyond legal hemp growing. . From the time that the Agriculture Improvement Act of 2018 (2018 Farm Bill) removed hemp from the definition of marijuana within the Controlled Substances Act, the financial services industry
PYMNTS
JUNE 30, 2020
A summary of Wirecard ’s customers in 2017 suggests that just 100 clients represented over 50 percent of its real sales, the Financial Times reported, citing an internal spreadsheet. The firm reportedly said it worked with 170,000 small companies and 33,000 large and medium-sized merchants in 2017. However, the internal document hints that the firm’s client base was significantly less sizable and the revenue from it much more uneven, per the report viewed by FT.
Abrigo
JUNE 30, 2020
Key Takeaways Work-from-home mandates have brought new challenges to an already stressful job held by banking professionals. While many banking professionals have already made adjustments in order to work remotely, it's a good time to revisit work-from-home strategies since some states are slowing reopening plans, and some employers are looking at longer-term increases of remote work.
PYMNTS
JUNE 30, 2020
Careem , the Dubai-based ride hailing company, has entered into a partnership with Visa to expand digital payments. The agreement is expected to accelerate cashless payments and digital banking across the Middle East and North Africa, the companies announced. Under the terms of the deal, Visa is integrated into the Careem Pay Super App which will provide Careem drivers, known as Careem captains, access to payments and funds.
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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.
Independent Banker
JUNE 30, 2020
“With a heart led by compassion, let’s ask ourselves a question: Who do we want to be when we grow up?”. At times in our country, true independence has arisen from points of crisis—critical moments in time that require us to listen and reflect. Just think about the foundation of our nation so many years ago. A crescendo of events drove actions that ultimately led to the birth of a new nation.
PYMNTS
JUNE 30, 2020
Google’s parent, Alphabet Inc. , confirmed on Tuesday (June 30) that it has purchased North, the Canadian startup best known for Focals, its $600 smart glasses. . Terms were not disclosed, but The Globe and Mail reported the deal was worth about $180 million. “North’s technical expertise will help as we continue to invest in our hardware efforts and ambient computing future,” Rick Osterloh, Google’s senior vice president of devices and services, wrote on the company’s blog. .
Payments Source
JUNE 30, 2020
Wirecard North America is seeking a buyer, an otherwise routine corporate move that requires a large number of assurances, given its parent company's descent into scandal.
PYMNTS
JUNE 30, 2020
Microsoft reported that digital currency mining encounters dropped 40 percent from 2018 to 2019, according to a report. The tech company noted in the report that only 50 endpoints for each 100,000 came across a digital currency miner. Ethiopia was the country with the highest encounter rate, followed by Uzbekistan and Pakistan. Ireland was the country with the lowest encounter rate, followed by the United States and Japan.
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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.
Payments Source
JUNE 30, 2020
Tia Ilori, Senior Director of global fraud and breach investigations at Visa, joins us to talk with Michael Moeser, PaymentsSource's senior analyst, about the new attacks and fraud trends that have emerged since the start of the pandemic.
PYMNTS
JUNE 30, 2020
Travel tech companies TravelgateX and PayParc have made a deal to create a B2B digital wallet, operating via API integration and available for any buyer or seller using TravelgateX, a press release says. The release cites the complications in the travel industry due to the COVID-19 pandemic, which has rendered much of the industry useless with shutdowns and people’s fears over potentially catching the virus.
Payments Source
JUNE 30, 2020
When PayActiv ended its coronavirus-related fee holiday this month, it didn't just go back to the way things were before; it adopted a modified business model that could bring it new markets and partnerships.
PYMNTS
JUNE 30, 2020
Lots of Taco Bell customers hoping to get their hands on a free Chalupa Craving Box were disappointed when the Mexican and Tex-Mex fast food chain’s app and website crashed Tuesday morning, MassLive reported. As Taco Bell regulars know, the $5 Cravings Box includes a five-layer beef burrito, a taco, cinnamon twists and a medium drink as well as the titular chalupa.
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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.
Payments Source
JUNE 30, 2020
COVID-19 has been a major accelerator in the shift to digital for most of us; how we take classes, do our jobs, connect with friends, and definitely how we shop, says PPRO's James Booth.
PYMNTS
JUNE 30, 2020
Cade , the Brazilian antitrust watchdog, announced it would be reversing its decision to suspend the WhatsApp payment services partnership between Facebook and Brazilian card operator Cielo , Reuters reported. According to Cade, the decision was made because preliminary information from both Cielo and Facebook indicated that they would not infringe on peoples’ choices and wouldn’t limit other deals with rival companies.
BankDeals
JUNE 30, 2020
If you want a bank account with a yield of at least 2%, the only place to find yields this high is a high-yield reward checking account.
PYMNTS
JUNE 30, 2020
U.K. challenger bank Allica Bank has launched using Profile Software ‘s banking programs in order to ensure small- to medium-sized business (SMB) customers a way to manage their banking and risk operations, according to a press release. Allica Bank will use Profile’s FMS.next as its core banking platform. The program will “support their omnichannel digital banking experience,” including mortgage lending and managing savings accounts.
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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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