Chris Skinner
JULY 16, 2020
Things we’re reading today include … Are banks really going to revert to type and let struggling borrowers lose their homes? | Tony Robinson What Wall Street’s results tell you about America’s economy Coronavirus: Chinese economy bounces back into growth UK banks may have to flag up plans to shut … The post Things worth reading: 17th July 2020 appeared first on Chris Skinner's blog.
Accenture
JULY 16, 2020
In the first six months of 2020, the global COVID-19 crisis rapidly accelerated the evolution of the branch-network footprint. It’s time now for banks to consider future-proofing their networks for a post-pandemic world. Both the role and shape of branches are changing rapidly. In order for banks to cope—and to create a future-proof network—it is….
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Perficient
JULY 16, 2020
You’re ready to dive deep into your Microsoft Power App, but may be wondering the easiest way to use color schemes throughout your app. You can make your code into more readable and maintainable in just a few easy steps. Themes helps with consistency throughout your app and lets you easily reference colors while designing. Not only do themes help with uniformity in design, but also help your app be adaptable to change and easier to maintain.
Chris Skinner
JULY 16, 2020
I’ve written quite a few times about how economies work and the role of money as power. In particular, money is not just power but status, and leads to attractiveness, and the ability to get someone above your league in looks. I’ve likened it to experiments with monkeys where, when … The post What you really, really want is money (that’s what I want) 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
Perficient
JULY 16, 2020
The verge reports on a new ruling from the EU that will change how or even if personal data from Europe can enter the United States. As we know, there are very specific rules set forth in GDPR on how data is handled and what can and cannot be shared. In addition, GDPR mandates security of the data. In other words, employees, thieves, and even governmental organizations shouldn’t have easy access to it.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bobsguide
JULY 16, 2020
Simon Rockett, head of UK risk underwriting at the company, told bobsguide that opportunistic fraudsters have capitalised on how the pandemic has affected businesses, exploiting the vulnerabilities that have arisen as a consequence of the unprecedented situation: “Many businesses have been.
PYMNTS
JULY 16, 2020
“Sustained business success is dependent on business readiness to adapt to the changes in the market conditions, including the evolving needs of customers.”. Most people are utterly stunned and surprised by sudden disruptions like COVID-19. Others know that pandemics and crises come and go. The most resilient companies are always future-proofing. “If nothing else, this crisis reinforces that the future is and always will be uncertain,” said Amir Wain , founder and CEO of i2c.
Payments Source
JULY 16, 2020
The growth in remittance providers' digital customer sign-ups has accelerated as the U.S. went into a nationwide lockdown in the middle of March, and has continued through the summer despite store reopenings that could pull customers back to their old habits of paying in person.
PYMNTS
JULY 16, 2020
One of the unnamed jailed executives in the Wirecard scandal has reportedly admitted guilt to the multi-billion-dollar fraud and money laundering case, according to Reuters. The executive was the CEO of CardSystems Middle East, the largest unit under Wirecard’s command. Nicolas Fruehsorger, a defense lawyer for the executive, said his client “has voluntarily given himself up for the proceedings and — in contrast to others — takes individual responsibility,” according to Reuters.
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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
Bobsguide
JULY 16, 2020
During his years as Chairman of the Federal Reserve, Alan Greenspan became the icon of a communication style that later took the name of "Greenspeak": he made wordy and ambiguous statements. "Since I’ve become a central banker," he said on one occasion, "I have.
PYMNTS
JULY 16, 2020
Visa , in response to the rising demand for safer ways to travel, has expanded its partnership with Cubic Transportation Systems to offer contactless payments for public transportation services in over 500 cities, according to a press release. Visa and Cubic have already launched contactless systems in cities around the world, including London, Miami, New York, Sydney and Vancouver.
Payments Source
JULY 16, 2020
Mass transit usage cratered during the coronavirus pandemic, but there’s signs of recovery based on how people are paying for their fares.
PYMNTS
JULY 16, 2020
If the U.S. is serious about fixing the cost of healthcare , then it’s time to focus on one of the root causes of its spiraling costs: the roughly 20 percent of U.S. patients who have chronic conditions drive about 85 percent of America’s total annual medical spend. So says Tim Barry , co-founder and CEO of VillageMD , which through its subsidiary, Village Medical, provides value-based primary care services by 2,800 physicians in 9 states including New Hampshire, Texas, Florida and Illinois.
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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.
CFPB Monitor
JULY 16, 2020
With the U.S. Supreme Court having ruled in Seila Law that the CFPB’s leadership structure is unconstitutional, two circuit court cases involving the same constitutional challenge that were “on hold” pending the Supreme Court’s decision will now be moving forward. The two cases are RD Legal Funding pending in the Second Circuit and All American Check Cashing pending in the Fifth Circuit.
PYMNTS
JULY 16, 2020
In a surprise win for privacy advocates, the European Court of Justice has ruled companies will face restrictions on storing information about European Union (EU) residents on U.S. servers, The Wall Street Journal reported. The top court of the 28-nation bloc ruled the transfer of personal data to platforms in the U.S. puts Europeans at risk to American government surveillance without a right to challenge it.
Payments Source
JULY 16, 2020
What made the attack on famous Twitter accounts so problematic wasn’t the high profile of its victims, but the non-technical and repeatable method the assailants used.
PYMNTS
JULY 16, 2020
ACI Worldwide , which provides electronic payment and banking solutions, has added new digital overlay services that it says will help to speed up real-time payments, according to a press release. The company will work with Mindgate Solutions to help “add a range of real-time digital overlay services to support a high-volume, data-rich digital payments ecosystem” through a number of services like new apps and web portals, plug-ins, advanced programming interfaces (APIs) and software
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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.
Payments Source
JULY 16, 2020
Voice assistants such as Apple Inc.’s Siri and Amazon.com Inc.’s Alexa are at the center of a sweeping European Union antitrust inquiry into how Silicon Valley uses data to gain a tight grip on growing markets.
PYMNTS
JULY 16, 2020
The U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) is warning financial institutions of a “high-profile” new scam exploiting Twitter accounts to try and scam convertible virtual currency (CVC) out of individuals, according to a Thursday (July 16) press release. On Wednesday (July 15), bad actors hacked the Twitter accounts of numerous popular officials and CEOs, including Elon Musk and Jeff Bezos , all posting identical messages promising to double Bitcoin dona
Payments Source
JULY 16, 2020
Fraudsters hit U.S. banks and merchants hardest with bogus credit card applications in April, while most consumers were in full pandemic lockdown, according to new data from New York-based fraud-detection firm Socure.
PYMNTS
JULY 16, 2020
Instacart has filed a lawsuit against grocery delivery company Cornershop , which was recently acquired by Uber , alleging the company used images from Instacart’s product catalog when it opened in the U.S., Axios reported. Cornershop, a Latin American delivery service, was bought by Uber last year, and debuted in the U.S. this year starting in Dallas and Miami.
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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.
Matt Wilcox Pro
JULY 16, 2020
With the gig economy’s upsurge amid stay-at-home orders, I found it interesting to see how much has changed—and how much has not—since I originally posted this on July 20, 2018 Most marketers know a push from a pull strategy. True to its name, a push strategy pushes a product the market has yet to demand. 3M brand Post-It Notes provide a […].
PYMNTS
JULY 16, 2020
High transaction success rates can indicate an efficient payments operation, but keeping them high is no easy feat. False positives, payment gateway malfunctions and incorrect data entry can all cause them to slip, running the risk that users may grow frustrated and take their business elsewhere. This risk is even greater now that the pandemic has upended normal shopping behaviors, driving an increasing number of consumers online to shop and pay, with retailers having experienced a 14.8 percent
Payments Source
JULY 16, 2020
Whether you’re implementing new technology or tightening your policies, it’s all about making customers feel like your business is a place where they can safely spend their money without worrying about infection.
PYMNTS
JULY 16, 2020
As the pandemic continues to disrupt everyday life the world over, many consumers are seeking refunds on things they have already paid for but may not be able to use. Sports teams, in one case, are offering refund and credit options to those who have season tickets. The Los Angeles Chargers food ball team is letting season ticket holders apply their payments for this year’s season to next year’s or receive a reimbursement, according to a NBC Sports report.
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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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