Fri.Aug 07, 2020

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The great digital migration: 78% of consumers are changing payment methods

Payments Dive

Visa's Back to Business global study reveals small businesses and consumers, from around the world, that may initially been reluctant to adopt digital technology are now embracing it. But will this digital landscape remain in place for the future?

Study 448
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Microsoft Teams Advanced Communications Add-On: Is it the right fit for your organization?

Perficient

Microsoft recently announced a new add-on for Microsoft Teams called the “Advanced Communications” SKU which can be added to any Office 365 or Microsoft 365 subscription. In this blog, we’ll cover what exactly the add-on includes so you can determine if it’s a good fit for your organization! What is the Advanced Communications Add-on?

Meeting 399
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A How-To Guide for Monetizing Open Banking

Accenture

In my last post, I shared the two emerging business models that are powered by Open Banking: banking as a platform and banking as a service. The future of any Open Banking offering will depend on the value it provides or the monetization options it creates. Participants can bundle or unbundle offerings and services.

How To 371
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The great digital migration: 78% of consumers have changed payment methods

Payments Dive

Visa's Back to Business global study indicates small businesses and consumers from around the world that may originally been reluctant to embrace digital technology, now utilize it. But will this digital landscape remain in place for the future?

Study 370
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Digital Transformation: Accelerating ROI and Growth in Commercial Lending

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

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The Fifth Key Commitment of Revenue Resilience – We Need Hospitals to Learn

Perficient

Series Authors: Tom Kiesau , Dr. Sam Bhatia , Paul Griffiths. This series explores the uncomfortable reality that this adaptation will likely span a longer period of time than the authors believe has been widely expected. Three leading organizations — Salesforce , Perficient , and The Chartis Group — have come together to share bright spots within the healthcare community that can point the way to building the necessary capacity to adapt.

System 332

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More advisory trust can give bank revenue a 9% boost

Accenture

In my last blog, I pointed out that low advisory trust is the underlying cause for five percent of banks’ retail revenues being at risk. To address this threat and grow their business, banks need to build customer trust and create win-win relationships that endure over time. For starters, banks can sustain the understanding, empathy,…. The post More advisory trust can give bank revenue a 9% boost appeared first on Accenture Banking Blog.

Retail 221
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Visa’s Bill Sheley: Eliminating FX Uncertainty Boosts Cross Border Commerce

PYMNTS

Global travel may be down, and border restrictions remain in-place, but that doesn’t mean cross-border payment volumes have taken a hit. The need to purchase goods and services remains as high as ever, and increasingly, spend is occurring on an international scale. While the barriers to reaching an international consumer base are low thanks to innovations in eCommerce, online retailers and merchants still struggle to provide their global consumers with the same payments experience their do

Policies 302
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EU disclosure rules to shape ESG strategies

Bobsguide

Many European firms are unprepared for reporting under the Sustainable Finance Disclosure Regulation (SFDR), set to commence in March 2021. “There’s a little bit of the industry taking for granted what it now entails to be an [Environmental, Social and Governance] (ESG) fund or firm.

Strategy 202
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Deutsche Bank On Accelerating Payments In The Digital Age

PYMNTS

Payments are everyday occurrences for businesses and consumers, and they have been for thousands of years. Transactions once conducted by trading pieces of gold are now accomplished through digital means, with both parties using cards, wire transfers or even smartphone apps to send or receive funds. These transactions often take hours or days to clear, however, which can result in frustration because funds are often needed as soon as possible.

Payments 301
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The State of Automation in Financial Services 2024 Report

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

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As gamers shelter, fraudsters get to play

Payments Source

Video games provide a rare escape to locked-down consumers, and many modern games are so sophisticated that they support their own digital storefronts — with the potential for real-world losses if fraudsters find a way in.

Video 196
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Clik CEO: eKYC Key To Building Cambodia’s Digital Payments Future

PYMNTS

People in the developed world tend to have skewed views of developing countries that they’re unlikely to ever visit — like Cambodia, according to Matthew Tippetts , co-founder and CEO of Phnom Penh-based payments platform Clik. Tippetts told Karen Webster that those from advanced countries think of Cambodia as “frontier,” “underdeveloped” or “running critically behind the rest of the world,” but that overlooks the Cambodian market’s complexity.

Payments 301
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How coronavirus changed the way hourly workers manage their money

Payments Source

Now that the U.S. is five months into the COVID crisis a new victim is emerging. Caught between small businesses furloughing their staff landlords needing to collect rent are millions of hourly workers.

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US DOJ Charges 14 With $28M In PPP Fraud

PYMNTS

The U.S. Department of Justice (DOJ) charged 14 people in two separate investigations into their alleged participation in schemes to defraud the Paycheck Protection Program (PPP) of more than $28 million in forgivable loans guaranteed by the Small Business Administration. In Florida, nine defendants have been charged in the U.S District Court for the Southern District of Florida with wire and bank fraud and conspiracy for seeking $24 million in forgivable PPP loans.

Fraud 276
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Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance

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.

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Fund managers must accelerate digital transformation to overcome this crisis

Bobsguide

For fund managers battling against the fallout from the pandemic, the need for fundamental digital transformation has never been more urgent.

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Reserve Bank Of India To Expand Digital Payment Options

PYMNTS

India has seen a steady stream of digital payments since it locked down to prevent the spread of COVID-19 , but the nation of 1.3 billion suffers from either a lack of internet or low-speed service, preventing many residents from taking part in touchless payments. To remedy the problem, the Reserve Bank of India supports an option for offline payments through cards, wallets and mobile devices.

Payments 267
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Pandemic sees '10-year' jump in new payment methods

Bobsguide

Mobile and other "alternative" payment methods have seen explosive growth since the start of the pandemic - with many in the industry expecting that trend to continue after the immediate crisis subsides. “We’ve seen two major things: one is the massive acceleration of.

Payments 158
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Unisys, PayCargo Team Up For Faster, More Secure B2B Payments

PYMNTS

Unisys has partnered with PayCargo , which works in electronic invoicing and settlements for shipping companies, to deliver a new payments platform for cargo providers that a press release touts as more secure and faster. With the new platform, cargo providers will have access to more convenient payment options like direct ACH debits, prefunded accounts or credit card payments, and will be able to deliver speedier payments and worry less about risk due to the more secure system, the press releas

Security 256
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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

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.

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Covid-19 briefing: epi-macro 101

BankUnderground

Cristiano Cantore, Federico Di Pace, Riccardo M Masolo, Silvia Miranda-Agrippino and Arthur Turrell. The Covid-19 crisis has led to a swift shift in the emphasis of macroeconomic research. At the centre of this is a new field of inquiry called ‘epi-macro’ that combines epidemiological models with macroeconomic models. In this post, we give a brief introduction to some of the earliest papers in this fast-growing literature.

Policies 136
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Digital Banking Apps Cashing In

PYMNTS

Whatever nomenclature you prefer — neobank, challenger bank, digital bank — the common denominator is app-based convenience and the power of algorithms to help manage and save that has people downloading these apps like mad. The latest PYMNTS Provider Ranking of Digital Banking Apps shows how the players are stacking up. The Top 5. At No. 1 again is challenger bank Chime , followed at No. 2 by LATAM FinTech NuBank.

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Invoicing can benefit from removing some of the human touch

Payments Source

Robotic Process Automation and other cognitive automation tools can handle repetitive manual tasks such as processing data from websites and other applications says Kofax's Wendy St. Clair.

Tools 108
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Uber Counters Ridesharing Slump With Delivery Double-Up

PYMNTS

Before Q2 2020, Uber was the innovator that launched the concept of a digitally backed ridesharing business with a growing side hustle in the world of delivery. As of Q2, Uber is a delivery company with a side hustle in the world of ridesharing of which it was the pioneer. Uber Eats is now bigger in terms of adjusted net revenue that Uber’s “core” ride-hailing business, which has been one of the many casualties of the COVID-19 pandemic’s stay-at-home orders and overall consumer reluctance to phy

Mobile 254
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Top 10 Benefits of Automating Loan Modifications for Commercial Lenders

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.

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Fintech innovators can't let the coronavirus derail financial inclusion

Payments Source

s part of a global financial community, we must consider the long-term impact and see financial inclusion as a fundamental priority as we look to rebuild a fairer, more sustainable world, says Icon Solutions' Darren Caprehorn.

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Rural Properties See Surge In Airbnb Bookings

PYMNTS

As U.S. vacationers look to get away for a while, they’re increasingly turning to rural Airbnb listings where they won’t be as at risk of catching the coronavirus, CNBC reported. The shift comes as urban Airbnb venues and traditional hotels are suffering as people try to stay away from the virus. Airbnb has suffered this year, too, with its initial public offering (IPO) not going as planned amid mass layoffs.

Groups 253
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Looking for Trouble: How Boards Spot and Weed Out Dysfunction

ABA Community Banking

Success starts with recruiting a good mix of people and perspectives to create a dynamic and engaged cohort of directors. But what are some of the hallmarks of a board of directors that isn’t functioning as well as it should be? The post Looking for Trouble: How Boards Spot and Weed Out Dysfunction appeared first on ABA Banking Journal.

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FundBox CEO: Lending As The Onramp To SMB Banking Services Innovation

PYMNTS

Everyone knows the old joke about how easy getting into the lending business is: “Lending money out is very simple — pretty much anyone can do it. It’s getting people to pay the money back that’s the hard part.”. While that’s a groan-inducer in good times, it’s a wince-maker in today’s economic downturn. Lots of firms that jumped into the underwriting game over the past decade of economic growth are finding out these days that collecting the money isn’t a joke at all.

Lending 249
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2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

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.