Chris Skinner
JUNE 29, 2020
During my MoneyBox interview about Wirecard (see end of this blog), Paul asked me the question: how could this happen again? What’s next? And I said, we learn from our mistakes. Progress never stops. Wirecard won’t shut down FinTech. It will amend it. This means this is not the end … The post BaaS works, it’s the regulations that don’t appeared first on Chris Skinner's blog.
Accenture
JUNE 29, 2020
In our last post, we looked at how central banks can harness the power of data. We move on now to the second pillar. Pillar 2: Enable and drive innovation A key role for central banks is to enable and promote a vibrant financial sector. In the digital age, that means helping to cultivate new…. The post Next-gen central banking | Pillar 2: Enable and drive innovation appeared first on Accenture Banking Blog.
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Chris Skinner
JUNE 29, 2020
Things we’re reading today include … Fed puts restrictions on bank dividends after test finds some banks could be stressed in pandemic Deutsche Bank interns complain of cancellations on legal issues EY prepares for backlash over Wirecard scandal Four killed after gunmen attack Pakistan Stock Exchange Economic recovery hinges on … The post Things worth reading: 29th June 2020 appeared first on Chris Skinner's blog.
Perficient
JUNE 29, 2020
At Perficient, we list “People” as one of our most important values. We not only treasure talent, but cultivate a culture that challenges and champions our great people. Perficient Named a Top Workplace in Minnesota. We are proud to announce that Perficient has been named one of the Top Workplaces in Minnesota by the Star Tribune! Top Workplaces recognizes the most progressive companies in Minnesota based on employee opinions measuring engagement, organizational health, and satisfact
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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 29, 2020
Things we’re reading today include … City executives lead corporate governance drive Wirecard: Financial watchdog lifts restrictions on payments Santander set to hire William Vereker as UK chairman Digital payments rules must be updated now Coronavirus: A visual guide to the economic impact Has CMA been put back in its … The post Things worth reading: 30th 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.
PYMNTS
JUNE 29, 2020
In the ongoing scandal of Wirecard , under fire for fraud, the focus is now turning to auditors Ernst & Young (EY), which reportedly failed to report Wirecard’s “unorthodox financial arrangements” as far back as 2016, The Wall Street Journal (WSJ) reported. According to emails seen by WSJ, the auditing firm knew of and had questions about the arrangements and was signing off on Wirecard’s financial results for years anyway.
Perficient
JUNE 29, 2020
In Cognos Analytics, the visualizations possible through Charts and graphs are quite intuitive. It offers various insights into the data that you have. Through this blog, a special category of Bar-chart and the construction behind it is highlighted. Typically, Bar-charts, as the name suggests, plots Rectangular bars on the Y axis of varying height for each of the X-axis items.
PYMNTS
JUNE 29, 2020
The COVID-19 pandemic is one of the most monumental crises the banking industry has faced, and the sector must stare down the dual challenges of creating safety measures at branch locations while addressing the ongoing economic downturn that has stretched their capacity for processing and deferring loans. Bank branches are either closing outright or slashing their business hours to help customers maintain social distancing guidelines — but fortunately, the growing familiarity of digital banking
Perficient
JUNE 29, 2020
Starting with the 20.09 update, Oracle will cease supporting Internet Explorer as a compatible browser for EPM Cloud applications. This will leave Edge, Chrome, and Firefox ESR as the remaining supported browsers for Windows users. The move away from Internet Explorer is due to the fact that Microsoft has announced that Internet Explorer 11 is the last major version of the browser.
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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
South State Correspondent
JUNE 29, 2020
Recent survey data from borrowers that took a Paycheck Protection Program (PPP) loan was surprising as more borrowers than we first expected will be using the EZ Form and fewer borrowers than expected will be using the 24-week covered period. In this article, we breakdown some of this data and then discuss how it might impact your PPP Forgiveness Process in the coming months. .
PYMNTS
JUNE 29, 2020
After spending years fine-tuning travel reward cards, banks have found that the coronavirus pandemic decimated all the effort by reducing the need or will to travel, The Wall Street Journal reports. The cards contained perks like sign up bonuses, points on airfare, hotel stays and more — but now, with the pandemic necessitating staying at home and out of crowded tourist spaces, customers are wondering if the payments are worth it at all.
Payments Dive
JUNE 29, 2020
Cash is not going to be phased out any time soon, but cash access is evolving to suit people’s “anytime, anywhere” needs.
PYMNTS
JUNE 29, 2020
A Chinese startup is landing hundreds of millions in additional financing as a group of investors – which includes Tencent – eyes the country’s fast-growing grocery delivery sector. Tencent and private equity heavyweight Primavera are spearheading the $300 million investment in Xingsheng Youxuan, Bloomberg reported , citing sources familiar with the deal, which values the company at a healthy $3 billion.
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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.
Bobsguide
JUNE 29, 2020
The US equities market may see a combined digital ledger technology (DLT) and legacy settlement solution, as accelerated settlements gain importance. “Moving towards that T+0 model is really around doing so as an industry and doing so with a way that doesn’t force.
PYMNTS
JUNE 29, 2020
Across industries and across the globe, industry experts continue to raise concerns about shifting B2B payment habits — often to the detriment of small vendors. But some analysis suggests supplier payment strategies are in flux to better support the working capital positions of corporates. Despite widespread disruption in global supply chains, a new report from Medius indicates that supplier invoice and payment volumes have actually remained relatively stable this year compared to last.
Payments Source
JUNE 29, 2020
In order to keep up with the spike in demand, developing more innovative solutions for the digital payments market has moved up the list of priorities, saysConnectPay's Agne Selemonaite.
PYMNTS
JUNE 29, 2020
Mastercard and Norwegian financial technology (FinTech) company EedenBull have agreed to expand their partnership to the Asia Pacific region, the firms announced Monday (June 29). Under the terms of the new deal, Mastercard will support EedenBull’s product development and digital services. The announcement comes a month after the FinTech companies agreed to expand in Europe to support EedenBull’s operations in Oslo and Edinburgh with the implementation of a new digital platform to process spendi
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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.
Banking Exchange
JUNE 29, 2020
Covid-19 and the country’s economic response has provided smaller, relationship-driven banks the opportunity to showcase their strengths Community Banking Covid19 Feature Management Financial Trends Feature3 PPP Retail Banking.
PYMNTS
JUNE 29, 2020
The automotive evolution to Digital 3.0 revved a little higher Monday (June 29) as online car sales platform Shift announced it will go public in the third quarter via a complicated reverse merger arrangement. The company announced that it will merge with Insurance Acquisition Corp. (IAC) in exchange for approximately $380 million in Insurance Acquisition Corp.
BankBazaar
JUNE 29, 2020
Is your Instagram-feed filled with yoga poses and 1-minute plank challenges? Don’t let your finances miss out on the action. Here’s the ideal workout regime for your personal finances. If nothing, the lockdown has made many of us work on ourselves. A lot of us have incorporated exercise into our lives because we’re starved for physical activity.
PYMNTS
JUNE 29, 2020
The pandemic has drastically affected how consumers are shopping and paying for even routine purchases, and this in turn has altered how businesses are accepting their payments. The rise of online and contactless transactions in the European Union, for example, has meant that many merchants are making the bulk of their sales away from brick-and-mortar stores.
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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.
SWBC's LenderHub
JUNE 29, 2020
What happened: Last week was the first real “risk-off” week in quite a while. COVID-19 has pounced on some of our largest population centers that began relatively aggressive economic re-opening campaigns in mid to late May. Florida, Texas, Arizona, and California dominated the headlines, as it certainly appears that the so-called “First Wave” of the virus has not ended yet.
PYMNTS
JUNE 29, 2020
The pandemic has spurred businesses — by necessity — to use digital means to interact with their employees and to keep operations humming. And the great shift to digital is also changing the way employers are paying their employees. As Laura Valdespino , director of compliance solutions at ADP , told PYMNTS in a recent interview, using digital channels, and specifically, pay cards, can actually improve the employees’ pay experience over paper-based methods that have been in place for decades.
Payments Source
JUNE 29, 2020
Amex is offering cash rewards on a global scale for customers who shop at small businesses that are trying to recover from coronavirus lockdowns. The card brand also pledged $10 million to support Black-owned small businesses over the next four years.
PYMNTS
JUNE 29, 2020
Apple is launching a “Path to Apple Card” program intended to help declined Apple Card applicants improve their credit worthiness, according to reports. The program will start popping up as an optional method for those who want to get an Apple Card but didn’t have the required credit score. Then, they can choose to opt in to a four-month program in which the information used by Goldman Sachs to determine credit worthiness is analyzed in order to help find ways to improve it so the user can be ac
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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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