Tue.Aug 04, 2020

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Creativity and innovation will be the post-pandemic keys to customer retention

Payments Dive

Once the world has transitioned into a post-pandemic phase, businesses that realize health and safety will still be paramount to customers will be the ones determined to find creative and innovative ways to maintain and retain customers.

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Mobile Solutions for B2B Medical Sales

Perficient

B2B medical sales involve the purchasing of medical supplies, including personal protection equipment (PPE) such as masks, gloves, goggles, and face shields, and typical customers are labs, hospitals, clinics, manufacturing companies, and clean rooms. These products protect the wearer from their environment where infection, disease, or dangerous chemicals may be present.

Mobile 352
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Visa’s Kevin Phalen: Global SMBs Get Back To Business Optimistic About The Future

PYMNTS

The global pandemic has changed commerce fundamentally — a fact confirmed in Visa ’s new Back to Business study. To say that consumers have shifted dramatically toward digital commerce — or that small- to medium-sized businesses ( SMBs ) all over the world have been rapidly pivoting to keep up with them — is almost an understatement. According to the eight-country study, 78 percent of consumers have changed how they pay for things so as to reduce contact in their commerce.

Study 315
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Don’t Miss Out on DevOps World 2020

Perficient

DevOps World by CloudBees brings together thought leaders, practitioners, project contributors, and the entire DevOps ecosystem into one global, virtual event. By attending, you’ll have the opportunity to learn, explore, and help transform the future of software development and delivery. The event takes place Sept. 22-24, with a day of hands-on workshops on Sept. 25.

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Digital Transformation: Accelerating ROI and Growth in Commercial Lending

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

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JPMC: Why Working-Capital Trade Finance Is On The Rise

PYMNTS

Although the 2008 financial crisis jolted the world economy, the financial conditions leading up to the disruption had been a long time coming. It’s perhaps the biggest economic difference between then and the current climate, in which a global pandemic thrust millions of workers in the U.S. into unemployment and fractured supply chains across the globe — all within a matter of days.

Capital 310

More Trending

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BBVA On Google, Digital Banking And The Rise Of The ‘Everyday App’

PYMNTS

When the story of the coronavirus is written, when it comes to financial services, the key chapters will focus on the pace at which innovation accelerated — and where a range of players came together to create ecosystems, rather than to simply compete in zero-sum, winner-take-all bids for consumers. Those ecosystems will leverage the trust that consumers have placed in traditional financial industry players and tech companies of all sizes – including Big Tech , of course.

Google 298
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Configure a Flat File Data Integration in OneStream

Perficient

On my most recent client engagement, I was tasked with importing data into OneStream. Data integrations are a strength of OneStream, and there are several methods to load data into the system. The four types of data integrations are: delimited file, fixed file, data management, or data connector. My client required flat file and direct connect imports, and today we are going to take a look at how to configure a flat file data integration.

Data 309
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Survey: FIs Are Spending 15 Pct More YoY On Cybersecurity

PYMNTS

Financial institutions (FIs) plan to spend 15 percent more protecting their computer networks in 2020 than they spent in 2019, according to a report based on the results of a survey conducted by Deloitte & Touche LLP and the Financial Services Information Sharing and Analysis Center. The survey examined cybersecurity spending per employee and concluded it increased on average to $2,691 annually from $2,337.

Survey 265
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Painless PADERs From Argus Safety Without Wonky Counts

Perficient

Periodic Adverse Drug Experience Report ( PADER ) is a part of post-marketing cumulative safety reports that need to be submitted to the United States Food and Drug Administration (US FDA). It provides a brief summary of changing post-approval AE profiles and safety information of an approved drug along with the benefit-risk profile evaluation. The Oracle Argus Safety system has a native report named NDA, which helps in extracting cases as a line listing required for the PADER report (for regula

Report 309
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The State of Automation in Financial Services 2024 Report

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

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Startup Handpicked Fashion Is Dressed For Subscription Success

PYMNTS

There’s a new subscription apparel box on the market. Decidedly anti-tech and anti-expensive, Handpicked Fashion is aimed at the eCommerce shopper that might be just a little disillusioned with current offerings on the market. The service is an outgrowth of StyleBox , a guided in-app shopping platform, and creates personalized subscription boxes curated by professional stylists.

Online 246
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Configure Flat File Data Integrations in OneStream

Perficient

On my most recent client engagement, I was tasked with importing data into OneStream. Data integrations are a strength of OneStream, and there are several methods to load data into the system. The four types of data integrations are: delimited file, fixed file, data management, or data connector. My client required flat file and direct connect imports, and today we are going to take a look at how to configure a flat file data integration.

Data 275
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Will COVID And Fraud Finally Kill The Paper Check?

PYMNTS

PYMNTS has been writing for years about the ongoing push to #killthecheck, but paper checks live on because of their ubiquity of acceptance and simplicity to issue despite the fact that most people on the receiving end really hate getting them. However, the price of that simplicity is embracing the many foibles of paper checks — in some cases, with hilarious results.

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The Risk of The Main Street Lending Program By The Numbers

South State Correspondent

What is with all the waving we do at the end of Zoom calls? Should we start waving as we back out of the room for in-person meetings in the future? By the same token, many banks are baffled by what to do with the Main Street Lending Program (MSLP), as this is not something we would do in normal times. Yet, we found ourselves both participating and waiving at the end of those MSLP Zoom calls.

Maine 221
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Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance

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.

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Social Shopping Emerges As Hottest Digital 3.0 Trend

PYMNTS

Social shopping is the latest pandemic-driven trend to catch fire. With Burberry launching a social experience at its brick-and-mortar Shenzhen store and social platforms like Facebook pushing their commerce capabilities, new startups are popping up and established brands are catching up to capture this newest area of the digital shift. The most high-profile startup announced its presence on Tuesday (Aug. 4) with Tuli.

Trends 207
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As Western Union agents locked down, new users flocked to digital

Payments Source

Western Union confirmed yet again that for a payments company to survive the coronavirus pandemic, it needed to enter the crisis with a strong footing in digital payments.

Payments 163
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Japan’s Payments Firm Hey Nets Series E Funding Led By Bain Capital

PYMNTS

Japanese eCommerce and payments platform hey announced a Series E investment led by Bain Capital , a press release says. The round was also supported by PayPal Ventures , Goldman Sachs, YJ Capital, Anatole, and existing investor World Innovation Group, according to the release. Hey works in the business of aiding companies in making their own online stores and processing payments, using end-to-end support and helping customers access what the release claims are cheaper prices for the service.

Capital 194
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Visa sees cash use drop worldwide

Payments Source

Most consumers globally have changed the way they pay to avoid coronavirus risk, and almost half say they’re using cash less often since the pandemic began, according to a study from Visa.

Study 157
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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

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.

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It’s Time For Cloud Banking

PYMNTS

Financial institutions (FIs) and every other manner of business is right now learning a lesson in resiliency, for good or ill. As reports of how different sectors of the financial services industry performed during the global emergency, a few things stand out. Among them is how banks and FIs that had moved some or all operations to cloud environments fared better.

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New bot malware leaves financial apps dangerously exposed

Payments Source

EventBot is a particularly frightening development since it hides in an altered version of an app that seems legitimate and steals unprotected information in banking, wallet, payment and cryptocurrency mobile apps, says Appdome's Tom Tovar.

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The State Of Main Street In 2020’s Second Half

PYMNTS

The first half of 2020 was a tough time to run a small business on Main Street as stay-at-home orders closed down restaurants and retailers for much or all of the past five months. That left small and medium-sized businesses (SMBs) scrambling to rapidly switch to digital to keep at least some revenue coming in. “That first 60 days of the shutdown was really that critical time when the small businesses in most of the markets had to make a quick pivot and move into this new digital environment if

Maine 181
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Why banks want to get into Google Pay

Payments Source

The marketing and tech-sharing opportunities for Google's eight financial institution partners are captivating despite the risk of data privacy or other issues cropping up down the road.

Google 126
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Top 10 Benefits of Automating Loan Modifications for Commercial Lenders

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.

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Social Media Innovations And SMB Challenges

PYMNTS

Burberry has created a “mini program” with Tencent that provides exclusive content and tailored experiences that can be unlocked on WeChat, at a time when China has millions of mini-communities on the social media platform. And in small business, a sizable share of SMBs have tapped their personal financial lifelines, including credit cards, to keep their companies operational.

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All American Check Cashing files supplemental en banc brief with Fifth Circuit

CFPB Monitor

In March 2020, the Fifth Circuit, on its own motion, entered an order vacating the panel’s ruling in All American Check Cashing that the CFPB’s structure was constitutional and granting rehearing en banc. On June 30, the Fifth Circuit tentatively calendared the case for en banc oral argument during the week of September 21, 2020 and ordered the parties to file supplemental briefs.

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Paya FinTech To Go Public With Special Merger, New Investors

PYMNTS

Paya , an eCommerce FinTech, plans to go public through a special kind of merger with an investment company, according to a press release. The combined company will be known as Paya and will be listed on the NASDAQ as “PAYA.”. Private-equity firm GTCR is currently the majority owner of Paya and will remain the company’s largest shareholder. The deal values Paya at about $1.3 billion, according to the release.

Fintech 159
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Third Circuit rules CFPB lawsuit against federal student loan servicer did not preclude PA AG’s parallel lawsuit, federal law did not preempt PA UDAP claims

CFPB Monitor

The U.S. Court of Appeals for the Third Circuit ruled last week in Commonwealth of Pennsylvania v. Navient Corp. that the PA Attorney General could bring a parallel enforcement action against Navient, a servicer of federal student loans, under the Consumer Financial Protection Act (CFPA) even though the CFPB had previously filed a lawsuit against Navient based on the same alleged conduct.

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2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

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.