Payments Dive
SEPTEMBER 1, 2020
The world of payments is changing and what was once a preferred way to pay, with a debit or credit card, is being overtaken by the contactless and card-not-present methods. Was the pandemic to blame or is something more?
Accenture
SEPTEMBER 1, 2020
In this blog series, I’ve been highlighting the top key performance indicators (KPIs) that banks should be tracking to measure the success of their Open Banking initiatives. My last post covered the KPIs for business-value and customer-experience outcomes in Open Banking. Today, I want to delve into another important area—the ecosystem of developers, platforms and….
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PYMNTS
SEPTEMBER 1, 2020
More money crossing borders digitally. Fewer correspondent banks to move that money. And the hallmark of that money movement — a lack of transparency and speed. What might replace a clunky system in a world where payments are becoming ever more global? The Bank for International Settlements (BIS) said in a recent report that the number of correspondent banks — where banks and financial institutions (and domestic payment systems) are linked together — slipped 3 percent in 2019 vs. 2018 and decl
Abrigo
SEPTEMBER 1, 2020
Key Takeaways Most financial institutions have implemented technology to help handle Paycheck Protection Program (PPP) loans. Lenders leveraging that technology to provide SBA loans after PPP can add products, grow customers, and add portfolio stability. Lenders restructuring existing loans with SBA funding should move quickly before financials deteriorate.
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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
SEPTEMBER 1, 2020
Wells Fargo is launching a new, low-cost bank account — with access as well to a new digital payments service — in its latest move to push beyond a series of scandals. Wells Fargo on Tuesday (Sept. 1) rolled out a new, no-overdraft-fee banking account aimed at consumers new to banking or who want help managing their expenses, with access as well to Zelle, a digital payments service.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
SEPTEMBER 1, 2020
To help beauty brands stay on pace with consumers' current expectations, Perfect Corp. has unveiled four new contactless makeup try-on functions. The company’s technology now includes voice activation, gesture control, face mask detection and arm virtual swatch mode, according to an announcement. “Our new non-touch virtual makeup try-on solutions will help beauty brands to build their in-store shopping experience around digital interaction with consumers by delivering on virtual, touchless makeo
Payments Source
SEPTEMBER 1, 2020
FIS' purchase of Worldpay in 2019 required Ellyn Raftery, the company's chief marketing and communication's officer, to reshape its brand to showcase the strengths of both companies — all while a major global pandemic hastened her timeline.
PYMNTS
SEPTEMBER 1, 2020
Stock for retail giant Walmart got a $24 billion boost upon the store's announcement of a subscription membership service, Walmart+ , CNBC reported. On Tuesday (Sept. 1), Walmart stocks closed 6 percent higher and, earlier in the day, had reached a 52-week high of $418 billion. The subscription service in question will debut on Sept. 15, costing $98 a year or $12.95 per month.
Payments Source
SEPTEMBER 1, 2020
Walmart’s membership service undercuts Amazon Prime on price and offers myriad perks, including access to streamlined checkout and deliveries — two areas where Walmart has struggled in the past.
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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
SEPTEMBER 1, 2020
Boxed , the U.S. online wholesale retailer sometimes called “Costco for millennials,” is seeking a buyer, Reuters reported. The company is exploring options including a sale or going public via a merger with a blank-check acquisition company that could put its value at around $1 billion, the report stated. Boxed, based in New York, offers sales of fresh groceries, office supplies and more.
Payments Source
SEPTEMBER 1, 2020
PaymentsSource Senior Analyst Michael Moeser interviews Visa's global head of contactless payments, Dan Sanford, about the factors causing a sharp rise in the use of contactless cards and mobile wallets across the globe.
PYMNTS
SEPTEMBER 1, 2020
The Bermuda government is working on a plan to roll out a digital stimulus token to help residents and vendors, The Royal Gazette reported. Working in conjunction with stablecoin payment and foreign exchange platform Stablehouse , the idea was started last year but expedited due to its newfound importance after the pandemic hit. The goal is to help get payments out to those who need financial aid due to the pandemic's economic effects.
Banking Exchange
SEPTEMBER 1, 2020
As their investment in digital transformation increases, banking organizations are learning a valuable lesson that all comes down to trust. Technology Feature3 Fintech Feature Customers People Covid19 Security Cards Mobile Online Tech Management.
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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
SEPTEMBER 1, 2020
It is the last — and possibly the most important — retailer to post second-quarter earnings. When Macy’s takes the stage Wednesday morning (Sept. 2) it will be a referendum on its own future as well as the future of department stores. By extension, it’s also a key indicator on the state of the American mall. Analysts are expecting a top-line revenue decrease of around 40 percent.
ATM Marketplace
SEPTEMBER 1, 2020
Greg Mahnken is a Credit Industry Analyst for Credit Card Insider and covers important topics such as fraud, security and responsible card use. With the rise in credit card fraud increasing, ATM Marketplace asked Greg to share with us how to combat it and how to protect customers.
PYMNTS
SEPTEMBER 1, 2020
Google has enacted a plan to pass on the cost of digital services taxes in Europe to advertisers instead, according to a Financial Times (FT) report, which will muddy the waters on governmental attempts to take more of the U.S. tech giant's revenues. The plan involves an additional fee for advertisements in the U.K., Turkey and Austria, which will cover the cost of regulations in those countries, FT reported.
Banking Exchange
SEPTEMBER 1, 2020
Financial firms are mobilizing and taking steps to enhance digital customer journeys and transform risk/regulatory processes Technology Financial Trends Feature3 Fintech Feature Covid19.
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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
SEPTEMBER 1, 2020
Plaid is doubling down on its push to connect banks to FinTechs and their customers with a new, instant account update feature. The San Francisco-based FinTech has built its business by helping consumers connect various apps and services to their bank accounts through its universal API (application programming interface), software that allows a pair of applications to communicate with each other.
Payments Source
SEPTEMBER 1, 2020
Capital One Financial is reining in credit lines to reduce its exposure while the nation’s largest card issuer, JPMorgan Chase, is rolling out a new card designed for travelers and diners.
PYMNTS
SEPTEMBER 1, 2020
Chinese consumers who have the money to spend are doing exactly that on retail splurges — but that hasn't translated evenly across all sectors of the economy, with spending on luxury items up but other more common retail lagging. Bloomberg reported that luxury items like handbags, cosmetics and cars are doing well. After spending months inside, people have been engaging in retail therapy.
Payments Source
SEPTEMBER 1, 2020
Once a BOPIS strategy is in place with the appropriate fraud controls and logistics to provide a smooth customer experience, it can be a secure way for merchants to find growth and convenient way for consumers to shop, says Visa's Michael Lemberger.
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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
SEPTEMBER 1, 2020
When speaking with Tai Lopez , the executive chairman of one of the more disruptive retail companies in the pandemic period, it could be expected that the conversation would center around one topic: retailing. But that's not the case. Instead, a dialogue with Lopez, head of Retail Ecommerce Ventures (REV), spans multitudes of topics, from neuroscience to movies to books to chess and, yes, retail.
Payments Source
SEPTEMBER 1, 2020
Cross-border payments provider dLocal is offering its technology platform for Spotify users in Latin America, enabling alternative payment methods for underbanked Spotify Premium customers purchasing digital music.
PYMNTS
SEPTEMBER 1, 2020
Cornerstone Brands plans to acquire payments processor FXPress in a deal that also includes a sale of the existing Cornerstone business and restructuring of capital, according to a press release emailed to PYMNTS. FXPress provides advanced payment systems through a Platform-as-a-Service agreement. The new company strategy will involve building a business off providing international payment services for small- to medium-sized businesses (SMBs) through both "organic and inorganic growth," the rele
Current
SEPTEMBER 1, 2020
We're happy to announce that Current's over 1 million members now have the ability to deposit cash instantly to their accounts at over 60,000 stores nationwide, including CVS Pharmacy, 7-Eleven, Dollar General and Family Dollar. Paid in cash? No need to even visit an ATM to deposit your money. You can now do it right from a neighborhood store and with your Current app!
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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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