PYMNTS

OCTOBER 22, 2020

General Electric ( GE ) is the one of the world’s oldest and largest industrial manufacturers with roots that can be traced back to the late 1800s and Thomas Edison’s lab. The 142-year-old company touches nearly every aspect of today’s economy, from healthcare and aviation to energy production and finance. The company has become known for the sophisticated digital technologies and engineering that go into many of its front-end commercial applications.

Payments 247

Payments Industry Operations US 247

Jack Henry

OCTOBER 22, 2020

In my early days of banking, adopting the right credit product was often based upon what we called “the flavor of the week.” I worked in a very large financial institution (FI) that tracked metrics based on unit volume versus dollar volume. The idea behind this was that each client would likely grow to reach a key number of products they had with the FI; that would make them “sticky.”.

Community Bank 148

Community Bank Community 148

PYMNTS

OCTOBER 22, 2020

Although lower costs and increased availability of new peer-to-peer (P2P) payment systems have allowed more first-time users to enjoy the ease and benefits of the banking system, the fact remains that 1.7 billion adults are still “unbanked.”. While efforts to eradicate this problem have been trending in the right direction, experts say the digital shift and lifestyle changes brought on by COVID-19 have boosted the transition.

Payments 206

Payments Community Mobile Comparison 206

Perficient

OCTOBER 22, 2020

Welcome back to our “Four Microsoft 365 network connectivity principles you need to know” blog series, it has been almost 2 months since the first article (sorry for the large gap), so if you haven’t had a chance to read the first blog, you can check it out here. Last time we talked about the first network connectivity principle which involved optimizing your network traffic.

Security 340

Security Software Management 340

Advertisement

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

Lending

PYMNTS

OCTOBER 22, 2020

HSBC will be restructuring its commercial banking business in Britain which will result in 300 job cuts, according to Reuters. The cuts come as part of Europe's largest bank's larger restructuring effort from earlier this year, with HSBC looking to cut costs worldwide as the ability to boost revenues becomes more difficult. In June, HSBC resumed its plans to cut around 35,000 jobs after the plans had been temporarily put on ice during the pandemic.

Taxes 229

Taxes 229

PYMNTS

OCTOBER 22, 2020

A perfect storm of market shifts catalyzed by the global pandemic has forever changed the B2B payments landscape. Billtrust CEO and Founder Flint Lane highlighted three shifts in particular that are igniting major change in the industry: first, the accelerated digitization of accounts receivable (AR) and accounts payable (AP). Second, AR professionals working from home could no longer run credit cards from their desks or accept paper checks in the mail.

Payments 224

Payments Strategy Cards Data 224

Bobsguide

OCTOBER 22, 2020

The disruption and financial pressures caused by the pandemic are likely to give rise to some common challenges for businesses across sectors, whether the problem concerns a supplier or a customer. While each case will require specific advice, parties should be generally aware of some recent changes.

151

151

PYMNTS

OCTOBER 22, 2020

Online clothing retailer ThredUP has filed confidentially for an initial public offering (IPO) in the U.S., Bloomberg reports. The company, based in Oakland, California, is one of the growing numbers of eCommerce sites trafficking in used goods, competing with old stalwarts like Salvation Army Thrift Stores. Despite concerns in the market about the COVID-19 pandemic affecting purchases of used clothes, ThredUp says it's added customers this year, Bloomberg writes.

Oakland 222

Oakland California Retail Strategy 222

Payments Source

OCTOBER 22, 2020

Several large mobile point of sale projects are hitting the market at once to reach financially troubled retailers, with JPMorgan Chase making use of a three-year-old acquisition to push back against the technology firms that have been gobbling up small-business clients.

Cards 122

Cards Fintech Mobile Retail 122

Advertisement

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

Report

PYMNTS

OCTOBER 22, 2020

As has historically been the case with commerce security upgrades that roll in by government mandate, the path to European Union adoption of 3D Secure 2.0 (also known as “3DS 2.0” or “EMV 3DS”) has been a rocky road. It’s been replete with stumbles and delays getting the new technology paradigm off the ground — most notably in the middle of the coronavirus pandemic, a global event that put the brakes on projects large and small worldwide.

Fraud 221

Fraud Online Security Cards 221

Payments Source

OCTOBER 22, 2020

For the 44.6 million households who rent, coming into the crisis almost 27% were already paying half or more of their monthly income on housing. That meant they had litte ability to save for an emergency, let alone a pandemic that would cause record job losses.

Payments 111

Payments Online 111

PYMNTS

OCTOBER 22, 2020

Beauty is in the eye of the beholder, which is why today’s brands typically stock or share dizzying arrays of products that appeal to different tastes. Retailers in this space are also beginning to offer more payment methods and shopping channels, and the ongoing COVID-19 pandemic’s effects on consumer behaviors is partly driving this shift. Consumers’ buying habits have shifted as retailers face new rules and restrictions, with each side adapting to brick-and-mortar store closures or reconfigur

social media 200

social media Retail Online Mobile 200

CFPB Monitor

OCTOBER 22, 2020

A Georgia federal district court has entered a temporary restraining order against a Georgia-based debt collection operation in response to a complaint filed by the Federal Trade Commission. According to the complaint, the debt collection operation engaged in a variety of illegal debt collection practices, including: “Masquerading” as law-enforcement officials, government officials or attorneys.

Operations 112

Operations North Dakota Georgia South Carolina 112

Advertisement

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.

Lending

PYMNTS

OCTOBER 22, 2020

Business banking hasn't always been flashy or innovative. But with the help from some industry friends, financial institutions today are looking to improve the experience for both small businesses and larger corporates. In this week's look at bank-FinTech collaboration, new partnerships aim to address some of the longest-standing points of friction in business finance, including late payments to small suppliers and the headache of manually managing check payment data.

Payments 198

Payments Fintech Technology Customer Experience 198

Payments Source

OCTOBER 22, 2020

Compliance can't be a bolt-on solution. It's critical to build it in from the start, across your people, technology and partnerships, says Hummingbird's Joe Robinson.

Compliance 110

Compliance Fintech Technology Payments 110

PYMNTS

OCTOBER 22, 2020

At this point, half-a-year in and with no clearly defined end in sight just yet, the fact that we’re living in a changed world is an undeniable reality. Some of the changes were pretty easily predicted – once the world of physical commerce was shut down by statute, one might have sensibly forecast that the race would go to the players who mostly swiftly pivoted to digital.

Trends 193

Trends Payments Retail Meeting 193

Bobsguide

OCTOBER 22, 2020

As financial institutions adapt to the pandemic, business continuity planning (BCP) has emerged as a key area of improvement for banks of all sizes. While small banks have previously had less regulatory pressure to demonstrate liquidity management and stress testing, this fact is now changing.

Management 97

Management 97

Advertisement

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.

US

PYMNTS

OCTOBER 22, 2020

Chipotle Mexican Grill reported on Wednesday (Oct. 21) that digital sales rocketed up 202.5 percent year-over-year to $776.4 million and comprised nearly half of sales in Q3. Approximately half of the digital sales were through delivery, with the remainder coming from order-ahead transactions, according to the quick-service-restaurant (QSR) chain. “A reduction of dine-in services, more people working from home, increased advertising and digital awareness, recent partnerships with Uber Eats and G

Tools 189

Tools Examples Branding Innovation 189

Matt Wilcox Pro

OCTOBER 22, 2020

This week’s TBT falls in the Whatever Happened To … category. About this time in 2018, I blogged about Shiru Cafe and its unique approach to capturing and remarketing personal data. The company still operates, but not in the United States. Unable to secure corporate sponsors, Shiru Cafe closed its three U.S. location— less than […].

Data 97

Data United States Security Operations 97

PYMNTS

OCTOBER 22, 2020

Walgreens has joined the growing roster of firms using FIS 's Premium Payback real-time rewards redemption network, a press release says. Walgreens customers with eligible payment cards, starting this month, will now be able to access rewards programs to help pay for purchases they make in stores. The release says the Walgreens customers will now be able to use the option of paying with “points” from the FIS program after they've dipped, swiped or tapped their card.

Maine 188

Maine Cards Payments Retail 188

BankDeals

OCTOBER 22, 2020

Texell Credit Union (easy membership for Texas) raised the rate on its 18-month Share Certificate. Minimum opening deposit is $1k, with no stated balance cap.

Texas 105

Texas 105

Advertisement

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.

Compliance

PYMNTS

OCTOBER 22, 2020

The UnionBank of the Philippines is digitizing its onboarding process to offer custom solutions that will aid in making banking transactions more seamless, the bank announced on Thursday (Oct. 22). Through The Portal, the bank's digital banking platform, the new solution will offer a variety of services including bills payments, payroll, fund transfers, check writing services, merchant payment gateway systems, and credit facilities, the bank said.

Digital Banking 184

Digital Banking Operations Regulation Payments 184

BankInovation

OCTOBER 22, 2020

The transformation of Barwick Bank began in 2019 with a note left in Chad Bowling’s unlocked Range Rover. Bowling, a 22-year veteran of community banking who began his career as a teller, was ready for a change. The de novo Reunion Bank of Florida he had helped found and grow with his business partner and […].

Florida 98

Florida Community Bank Community Phoenix 98

PYMNTS

OCTOBER 22, 2020

Tennessee-based First Horizon Bank has moved its digital platform to the NCR D3 program, which a press release says will offer more seamless solutions. Pat Kelly , chief digital officer of First Horizon Bank, said it was important to provide clients with "a fast, easy and intuitive digital banking experience," for which NCR fit the profile. "Early performance metrics indicate that we are on par with or ahead of the top national banks in terms of engagement and speed," Kelly said, according to th

Digital Banking 183

Digital Banking Tennessee National Payments 183

Payments Source

OCTOBER 22, 2020

Discover Financial Services shares surged after the company said spending on its cards improved in September, the first increase during the pandemic.

Cards 103

Cards Company 103

Advertisement

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.

Lending