Perficient
JUNE 3, 2020
I love cross-pollination among technology alliances. The announcement this week from AWS and Red Hat to bring managed OpenShift to AWS cloud has me thinking about other great combos such as chips and salsa, or the sun and moon, or Simon & Garfunkel. According to this Forrester article by Jay McBain, 73% of B2B buyers report that buying through eCommerce, web direct, or marketplaces is very convenient.
Chris Skinner
JUNE 3, 2020
The other day, I said that I was confused about the future. Some folks said that seems strange for ‘a futurist’, but I’m not a futurist. I’m just a guy who looks to the future and tries to understand and predict what I can. We often get predictions wrong. The … The post I’m not a futurist appeared first on Chris Skinner's blog.
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Perficient
JUNE 3, 2020
Ransomware has become one of the most common and lucrative forms of malware, recently eclipsing even credit card theft incidents. With the potential for huge profits, you can be sure hackers will be coming up with even more effective and dangerous attacks. Recent ransomware attacks include data exfiltration, that is then held for ransom. Limitations of Traditional Anti-Malware: While traditional anti-malware solutions should be a part of any comprehensive security strategy, they do have some li
Chris Skinner
JUNE 3, 2020
Things we’re reading today include … Mastercard boss: ‘Leaders must reassure staff’ Wall Street closes sharply higher on signs of economic rebound Bank of England urges lenders to bolster no-deal Brexit plans Cards made up more than half of payments ‘for first time’ last year George Floyd: SoftBank launches $100m … The post Things worth reading: 4th June 2020 appeared first on Chris Skinner's blog.
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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
JUNE 3, 2020
Imagine if a North American company had the market share of Amazon, the payment flexibility of PayPal and the credit portfolio of Visa. In Latin America, such a company exists in the form of MercadoLibre , a triple-threat regional financial powerhouse based in Argentina. It is one of the region’s fastest-growing companies, having just turned in a stellar first quarter in a region that has more complexities than any of its northern neighbors.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
JUNE 3, 2020
Isn’t it surprising to know that 70 percent of financial institutions are just now adopting cloud computing solutions? Or how about this fact: over 90 percent of the world’s top 100 banks still use physical mainframes running 20th century style. So, what’s holding up the upgrades? It’s that old devil, legacy, and a smidgen of caveat emptor on the part of upgrading banks.
Payments Source
JUNE 3, 2020
Innovating is tough even in ordinary times, but during the coronavirus pandemic many payments startups had to dig into deeper reserves of creativity and resilience to meet expectations.
PYMNTS
JUNE 3, 2020
After some three months of keeping consumers at home, governments around the world are beginning to let people publicly mix again — albeit in a modified fashion that involves wearing masks, keeping socially distant and limiting crowded indoor locations. The big question is how to make sure infection rates and hospitalizations don’t skyrocket. As CEO Jon Prideaux of mobile payments and identity platform Boku noted in a recent conversation with Karen Webster, China, South Korea and Singapore are u
Payments Source
JUNE 3, 2020
Walt Disney Co. has at least temporarily cut several reservation and incentive features tied to its closed loop payment system, revealing the complexities of mixing health guidance with tourism.
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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
JUNE 3, 2020
The role of application programming interfaces (APIs) in banking and B2B payments has grown progressively larger over recent years, especially overseas. The United Kingdom has more than 200 providers developing APIs , for example, and these developers made 200 million requests for bank data via APIs just in January. These APIs are constantly threatened by fraud, however.
ATM Marketplace
JUNE 3, 2020
Protests have taken center stage as people throughout the world call for justice in the May 25 death of George Floyd by a Minneapolis police officer. Several ATM machines in a variety of cities were damaged and robbed when some peaceful protests turned violent.
PYMNTS
JUNE 3, 2020
While Lyft’s ride counts are rising from the worst parts of the pandemic, they’re still down 70 percent from a year ago, CNBC reported. Lyft’s ridership, affected as other such companies have been by the pandemic, was up 26 percent in May compared to April, a regulatory filing said. These numbers are among the first companies have offered as states have begun to reopen after the worst of the pandemic.
BankUnderground
JUNE 3, 2020
Lisa Panigrahi and Danny Walker. The average house in the UK is worth ten times what it was in 1980. Consumer prices are only three times higher. So house prices have more than trebled in real terms in just over a generation. In the 100 years leading up to 1980 they only doubled. Recent commentary on this blog and elsewhere argues that this unprecedented rise in house prices can be explained by one factor: lower interest rates.
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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
JUNE 3, 2020
Healthcare costs and healthcare payments are closely tied, but worlds apart. As the COVID-19 episode slowly winks out (for now), hundreds of millions of Americans are confused, paying higher premiums and copays and getting refunds slowly, if at all. And yet, they are more aware than ever of the importance of the healthcare system and their need to access it.
Banking Exchange
JUNE 3, 2020
In his first week as comptroller, Brian Brooks calls for local and regional leaders to weigh the risks of lockdown on banks Risk Management Retail Banking Feature3 Feature Management Duties Covid19 The Economy.
PYMNTS
JUNE 3, 2020
The parent company of New York & Co. , the wear-to-work retailer for women, warned it may file for Chapter 11 bankruptcy protection as the nationwide chain has been crippled by the COVID-19 crisis, CNBC reported. RTW Retailwinds Inc. said in its filing with the Securities and Exchange Commission (SEC) that there’s “substantial doubt” about its ability to do business, bankruptcy is “probable” without seeking bankruptcy protection, and “it does not have ability to raise additional capita
Banking Exchange
JUNE 3, 2020
KBRA warns that stable delinquency rates could rise in the months ahead as banks have focused on short-term relief Risk Management Retail Banking Compliance Fair Lending Mortgage Compliance Management Operational Risk Feature3 Feature Financial Trends PPP Covid19 The Economy.
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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
JUNE 3, 2020
The Consumer Bankers Association and Bank Policy Institute , in a co-signed letter , have called on Congress to automatically forgive Paycheck Protection Program (PPP) loans under $150,000. Although that would cover around 85 percent of the loans, it would only cover about 26 percent of PPP loan dollars, the two groups said. Businesses would still be required to verify that their PPP funds were used in the correct ways the program mandated, to keep employees on the payroll.
Banking Exchange
JUNE 3, 2020
Banks based in California, Michigan, Ohio, Louisiana and Florida have been added to the Nasdaq index of community institutions Community Banking Feature3 Feature Management M&A Financial Trends ABA News Nasdaq.
PYMNTS
JUNE 3, 2020
The pandemic has impacted Nevada’s labor force more than any other state in the country, and it could continue to disrupt the Las Vegas economy years into the future. Casinos, among other businesses, are getting ready to partially reopen — but how eager will Americans be to travel by plane, dance in an entertainment venue or get a set of dice from a person they don’t know?
Banking Exchange
JUNE 3, 2020
Southern California Bancorp’s acquisition of CalWest Bank was postponed after shareholders initially rejected the proposal Management M&A Covid19 Bank Performance The Economy Feature Financial Trends Retail Banking Feature3.
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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
JUNE 3, 2020
It will cost more to send a FedEx package starting Monday (June 8). The Tennessee-based shipping giant will add a 30-cent surcharge to packages delivered to homes via Express and Ground, according to a post on its website. The fee applies to large retailers and manufacturers who ship 40,000 or more packages per week. There will also be an extra $30 charge to all oversized packages.
TheGuardian
JUNE 3, 2020
Governor tells banks to prepare for risk of UK failing to reach a deal by 2020 deadline The Bank of England governor has told banks to bolster their preparations for a no-deal Brexit. Andrew Bailey held a conference call on Tuesday with Britain’s biggest lenders in which he emphasised that they needed to step up their plans for Britain failing to secure a post-Brexit trade deal with the EU before a deadline at the end of 2020, Sky News reported.
PYMNTS
JUNE 3, 2020
Las Vegas casinos shut their doors in mid-March in response to the COVID-19 pandemic, sending Nevada’s unemployment rate to a worst-in-the-nation 28.2 percent (nearly twice the U.S. average). And although some of the biggest casinos plan to reopen Thursday, questions remain as to whether Las Vegas’ appeal can survive given that Sin City specializes in gathering large groups of people indoors for gambling, conventions and entertainment.
Banking Exchange
JUNE 3, 2020
Understanding the capital, regulatory and investor needs will allow a community bank to determine the best way forward Community Banking Feature3 Feature Management.
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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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