Chris Skinner
AUGUST 3, 2020
Things we’re reading today include … Bakery manager sacked for using own bank card to help elderly customers blocked from paying with cash Lloyds bank manager ‘sacked for helping customer open mail’ Monzo’s losses double as popular UK digital bank warns of pandemic uncertainty Canary Wharf Group recalls staff to … The post Things worth reading: 3rd August 2020 appeared first on Chris Skinner's blog.
Perficient
AUGUST 3, 2020
In my previous post Exploring the Sling Feature Model , I described the process of migrating from a Sling Provisioning project setup to a Sling Feature Model project. Now that we have the Sling Provisioning Model project converted, we can move on to the fun stuff and create a Composite NodeStore. We’ll use Docker to build the Composite Node Store in the container image.
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PYMNTS
AUGUST 3, 2020
Scandal-plagued German FinTech pioneer Wirecard counted among its payments processing clients an online casino that laundered money for an arm of “one of Europe’s most dangerous mafia organizations,” the Financial Times reported on Monday (August 3). The paper cited documents and “Italian legal sources” in its story about the organized crime syndicate ’Ndrangheta and CenturionBet, an online gaming company based in Malta.
Perficient
AUGUST 3, 2020
With the release of Sitecore SXA 9.3.0, it came with Scriban Templates. They are used in Rendering Variants and can provide many benefits to the Content Authors as well as Developers. With additions like Scriban, Content Authors will have more power over the presentation of Content in Sitecore. There are already many embedded functions provided inbuilt by Scriban in SXA 9.3.0.
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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
PYMNTS
AUGUST 3, 2020
When it comes to B2B payments fraud, it’s not a matter of if it happens, but when. Speaking with Karen Webster in a recent interview , OnPay Solutions President and CEO Neal Anderson explained that organizations have to prepare themselves to mitigate the fraud threat, even as employees work from home. “Everybody needs to be suspicious,” he said. “Everybody should worry that this activity is happening.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
AUGUST 3, 2020
Mobile payments penetration has historically faced a gap in Southeast Asia , Joel Neoh , founder of leading regional online-to-offline company Fave , told Karen Webster. Consumers in locales like Singapore, Malaysia and the Philippines can store payments credentials on their phones and make online purchases with no problem, but it was a different story using them in physical locations.
Payments Source
AUGUST 3, 2020
The major card networks have heavily invested in broader services as transaction processing loses its luster, a strategy that’s provided a ray of hope as retail and travel industries remain sidelined.
PYMNTS
AUGUST 3, 2020
Apple has purchased Canadian company Mobeewave , which will allow it to create mobile pay hubs out of iPhones, Bloomberg reported. The deal went down for $100 million, according to sources quoted by Bloomberg. Mobeewave specializes in letting shoppers utilize their smartphones to access a credit card and process payments. The system works via an app and does not require any further hardware beyond a Near Field Communications (NFP) chip, the likes of which have been included in iPhones since 2014
South State Correspondent
AUGUST 3, 2020
Covid-19 has changed many aspects of banking from branch operations to credit underwriting and remote supervision of employees. Many community bank managers are physically distanced from their teams because of the pandemic. This distancing creates new challenges on how to supervise, motivate, communicate with, coach, train, and review bankers. We face this same challenge and we would like to share how we see other bank managers handle this challenge as well.
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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
PYMNTS
AUGUST 3, 2020
Navigating the U.S. regulatory landscape as a financial service provider is not easy, with laws that vary state by state and federal rules that are constantly evolving. It’s one factor in why so few challenger banks have launched in the country compared to markets like the U.K., where challenger banking has flourished in recent years. However, there are efforts to lower the barriers to entry for market newcomers.
Bobsguide
AUGUST 3, 2020
Capital markets firms are under pressure to increase efficiency and reduce operational costs, particularly as the world deals with the pandemic. A key metric of efficiency in our industry is cost per trade – but how much are firms actively controlling it? A recent industry survey showed.
PYMNTS
AUGUST 3, 2020
The pandemic has pushed digitization from a “nice to have” to a “have to have” for consumers all over the world and across all age demographics. But as Karen Webster noted in a recent On the Agenda conversation with a panel of industry experts, a funny thing happened to consumers on their way to the digital forum. Digitization shifted from something they had to do to something they wanted to do, and their preferences began to shift to businesses that could do digital better.
Payments Source
AUGUST 3, 2020
Banks are utilizing an array of overlay services to address historical market challenges, such as the continued use of checks among businesses that do not have the information or capabilities to send digital payments.
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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.
PYMNTS
AUGUST 3, 2020
If it takes a year to contain the COVID-19 pandemic and reopen economies, global payments could fall by as much as $108.6 billion this year, according to Asian Development Bank (ADB) economists. “Migrant workers are among the hardest hit groups, with many facing scant job security and limited access to social assistances,” ADB economists James Villafuerte and Aiko Kikkawa Takenaka wrote in a blog posted on the Philippines-based organization’s website.
Bobsguide
AUGUST 3, 2020
The Bank of England’s (BoE’s) new Real Time Gross Settlement (RTGS) system will be compatible with distributed ledger technologies (DLT), says BoE’s executive director for banking, payments and innovation Victoria Cleland. “It was decided a while ago in the program that we.
PYMNTS
AUGUST 3, 2020
Bitcoin had a turbulent weekend, rising to $12,112 in value just after midnight on Sunday (Aug. 2), and then falling to $10,638 just 30 minutes later, Bloomberg reported. The high was bitcoin’s best rate since August of last year, according to Bloomberg’s estimation. As of 8:48 a.m. Sunday, bitcoin was down 6.7 percent to $11,054. The pandemic has seen bitcoin’s value in a vulnerable place, as it fell as low as $4,904 when the pandemic hit initially in March, but things have be
Payments Source
AUGUST 3, 2020
With its acquisition of Montreal-based Mobeewave, Apple has placed a long-term bet on where it sees the payments industry headed.
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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.
PYMNTS
AUGUST 3, 2020
Six additional U.S. banks and credit unions (CUs) have signed on to offer checking and savings accounts through Google Pay. BankMobile, BBVA USA, BMO Harris, The Coastal Community Bank, First Independence Bank (a federally designated minority depository institution) and SEFCU will join Citi and Stanford Federal Credit Union in the offering beginning next year.
Payments Source
AUGUST 3, 2020
The increased use of technology, along with holistic data points, can eradicate racial and gender disparity for fintech lenders in small business, says Become’s Eden Amirav.
PYMNTS
AUGUST 3, 2020
COVID-19 and the ensuing economic downturn has caused B2B payment challenges to reach a new level. Vendors that once saw late buyer payments as unavoidable now risk going out of business if their clients don’t speed up the pace of payments. And in retail, Amazon ’s earnings were off the charts by any metric, and they didn’t come from cost-cutting.
Payments Source
AUGUST 3, 2020
Citigroup plans to let credit-card customers finance big purchases on Amazon.com over longer periods of time — a deal that may spur sales at the e-commerce giant while boosting the bank’s interest-bearing balances.
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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.
PYMNTS
AUGUST 3, 2020
The most interesting thing about Big Tech’s Fab Four tour of Capitol Hill last Wednesday (July 29) wasn’t the perfunctory lawmaker grandstanding, or even the number of times lawmakers used “dominant” and “crushing the competition” to describe their views on the companies’ behavior. It was watching the stock prices of each of the companies whose CEOs were on the hot seat that day.
Matt Wilcox Pro
AUGUST 3, 2020
A few old ideas are being modernized and revitalized. Among them are installment loans, subscription services, and a close cousin of subscription services known as continuity programs. Part of what’s new about them—and relevant to this blog—is that while such programs were once driven by checks via U.S. Mail, today they are utterly dependent on […].
PYMNTS
AUGUST 3, 2020
London-based Metro Bank has struck a deal to buy peer-to-peer lender RateSetter for £2.5 million ($3.27 million) upfront. Metro will make additional payments to shareholders if RateSetter reaches certain benchmarks, according to a news release. Those are: £500,000 will be paid one year after the deal closes and £9 million after three years, if RateSetter, also based in London, meets the criteria.
TheGuardian
AUGUST 3, 2020
Bank also forced to put aside another £2.9bn to cover bad debt in coronavirus crisis Coronavirus – latest updates See all our coronavirus coverage HSBC is to accelerate plans to cut 35,000 jobs globally after the Covid-19 crisis forced the bank to put aside another $3.8bn (£2.9bn) to cover bad debts. The London-headquartered bank announced on Monday that pretax profits plunged more than 80% to $1.1bn (£842m) in the second quarter, down from $6.2bn (£4.7bn) during the same period last year.
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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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