Chris Skinner
JULY 22, 2020
I’ve seen a few big deals signed this month to get banks onto the cloud, such as National Australia Bank (NAB) switching to Microsoft’s Azure, and Deutsche Bank moving to the Google Cloud. McKinsey expect that cloud usage will rise from less than a quarter of banks business being cloud-based to … The post Hey bank, get onto my cloud! appeared first on Chris Skinner's blog.
Perficient
JULY 22, 2020
A couple weeks ago Microsoft announced several new meeting features coming to Teams. Today, Microsoft announced that they are beginning to roll out many of these new features to tenants over the next few days. In this blog, we’ll cover what features are rolling out and how you can turn on this new meeting experience in your tenant! What’s rolling out?
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Chris Skinner
JULY 22, 2020
Things we’re reading today include: JPMorgan private bank managed at least $10million for Ghislaine Maxwell Should you leave your banking tech job for AWS? One in 10 born in 1980s to inherit more than half average lifetime earnings How strong are Britain and China’s economic ties? FCA may block appointments … The post Things worth reading: 23rd July 2020 appeared first on Chris Skinner's blog.
Perficient
JULY 22, 2020
,If you ae looking for a great follow-up to #MSInspire which is taking place virtually this week, you are in luck. Fresh off the heels of Inspire, our Microsoft experts will explore some of the hottest solutions and innovations buzzed about at Inspire during our Microsoft Teams Digital Summit , which takes place from 10:30 am to 2 pm CDT next Wednesday, July 29th and Thursday, July 30th.
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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
Accenture
JULY 22, 2020
As I illustrated in my last post, there are already plenty of examples of open data innovations being used to help with the unprecedented disruption and uncertainty that the COVID-19 crisis has caused. The question now is: What’s next for Open Banking and open data more broadly? What the COVID-19 lockdowns have certainly given us…. The post How open data can help in the post-pandemic era appeared first on Accenture Banking Blog.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
JULY 22, 2020
Goldman Sachs has predicted that online shopping will expand by 19 percent each year during the next three years to come, which marks a rise from its past forecast of 16 percent. The firm said the acceleration was mainly fueled by quicker growth in the United States, Brazil, Western Europe and a good share of APAC, according to the Monday (July 20) report.
Perficient
JULY 22, 2020
On June 25, 2020, I received an email which I suspect most readers of this blog received announcing the release of OneStream XF 6.1.1 which per the email “represents a minor release containing new features, enhancements to existing features, API additions”. Even though OneStream software considers this a minor release, I want to spend a few minutes describing two enhancements which I would consider a reason to prioritize an upgrade.
PYMNTS
JULY 22, 2020
“People want to be able to pay however they want, including with cards, digital wallets, alternative payment methods and rewards points. Giving customers choice can drive sales and loyalty.”. It’s hard to argue with the statistics on payments preference. It’s even harder when those stats are provided by industry titan PayPal. They make a powerful point about choice.
Perficient
JULY 22, 2020
The first day of Microsoft Inspire largely focused on how the Microsoft community had come together to help provide solutions for the current COVID-19 affected world. On Day 2, Microsoft Chief Executive Officer, Satya Nadella, urged Microsoft’s partners to think about what they could do next to help the world. As Nadella said, what comes next won’t be “business as usual” as we had previously thought of it.
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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
JULY 22, 2020
Among the value propositions for real-time processing is to improve liquidity while reducing transactional overhead. Yet for many entities, the concept of implementing real-time processing across an entire system can feel overwhelming complex. As real-time payment infrastructure grows more sophisticated, technology presents an opportunity for organizations to mitigate the adoption hurdle.
Payments Source
JULY 22, 2020
The COVID-19-induced shock to the world’s largest economy has created a rush of interest in the subscription industry, as millions of captive consumers with almost nowhere to go and plenty of time — and for those employed, plenty of unspent money — on their hands.
PYMNTS
JULY 22, 2020
Financial institutions (FIs) are beginning to see the light at the end of the tunnel for bouncing back from the pandemic, but the crisis has not been without its casualties. Banks have been forced to reduce or suspend in-branch activities to prevent the risk of infection at branches at least temporarily. The largest bank in the United States, J.P. Morgan Chase , closed 1,000 branches for awhile, and Citigroup temporarily shut down 100 branches.
Payments Source
JULY 22, 2020
TransUnion is expanding the geographic reach of its instant Document Verification service in response to the pandemic, with more users requiring ID confirmation from remote locations as fraud risks hit new highs.
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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
JULY 22, 2020
With the buy now, pay later (BNPL) movement on the rise, Affirm will be working with Shopify so its U.S. merchants can offer a BNPL payment option to their customers, the two companies said in a release. Affirm’s program essentially provides buyers of a wide range of products with a short-term loan that can be repaid through regular installments. The companies said the Shopify BNPL product, which is entering a testing phase, will be called Shop Pay Installments.
American Banker
JULY 22, 2020
Responding to an unnamed bank that had sought the opinion, the regulatory agency issued an interpretive letter clarifying that an institution's custody services can be used for cryptographic keys and other digital currency-related assets.
PYMNTS
JULY 22, 2020
Another livestreaming company is ready to launch in the U.S. Popshop Live is a mobile-based selling platform that will compete with Glamhive to be the pioneers in this relatively new format, which continues to see exponential growth in China. The company has a unique selling proposition that’s different than the Chinese model, which is based on appointment and event scheduling driven by celebrities and special guests.
Banking Exchange
JULY 22, 2020
EU and UK banks could be in a far worse position than their US peers following the COVID-19 pandemic, research has shown Risk Management Feature Management Financial Trends Feature3 Covid19 Compliance.
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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
JULY 22, 2020
Mastercard Inc. has introduced a sustainable credit card to consumers in more than a dozen countries made from recyclable, bio-sourced, chlorine-free, degradable and ocean plastics. The New York-based, multinational financial services (FI) company said six billion cards are produced annually from PVC. They are replaced every three to four years and expired cards end up in the world’s landfills.
Banking Exchange
JULY 22, 2020
Increase in productivity from remote work, bank onboarding applications, insurance claims, trade processing and capital markets payment related work Bank Performance The Economy Management Feature Financial Trends Lines of Business Technology Human Resources Feature3 Fintech Covid19.
PYMNTS
JULY 22, 2020
The retail industry is facing its first sales event of the pandemic with the coming of back-to-school sales. And while some of the sales projections are solid, the fundamentals for success are still wavering. The projections were led by the National Retail Federation (NRF) this week, as it foresees record sales for back to school. Its estimates are based on a hybrid schoolyear, one in which parents have to split their bets between possibly going back to physical classrooms and possibly taking co
Bobsguide
JULY 22, 2020
As reported by The Times earlier this month, many City firms have made substantial investments to install trading systems and recorded telephone lines in the homes of their traders during lockdown, all to meet compliance requirements. But there is often a huge blind spot in many financial services.
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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
JULY 22, 2020
“The need for frictionless experiences for things like accessing cash flow statements and predictions, optimizing payments and payroll, and loan origination is more critical than ever.”. The revolution will be touchless, or so it would appear as the world emerges from the COVID-19 pandemic. So, how do FIs serve the new consumer? “Banks and credit unions need to embrace a digital-first mindset to provide the touchless conveniences that consumers want to conduct transactions in their day-to-day li
BankBazaar
JULY 22, 2020
Thinking of reviving your dormant PPF account in order to shore up your savings? Here’s how you can go about it. . The pandemic and its many repercussions in the form of job loss, pay cuts, and furloughs have compelled us to take a hard look at our savings and focus our efforts in shoring them up as much as possible. So it is no surprise that many of us, who are unsure of testing the market waters in these uncertain times, would want to stick to traditional instruments like PPF.
PYMNTS
JULY 22, 2020
Nike announced several changes to its senior leadership Wednesday (July 22) as it looks to accelerate digital business and simplify consumer experiences with its Consumer Direct Acceleration (CDA) strategy, according to a press release. “We are announcing changes today to transform Nike faster, accelerate against our biggest growth opportunities and extend our leadership position,” said John Donahoe , president and CEO of Nike, in the release.
CFPB Monitor
JULY 22, 2020
Less than two months after issuing its final “ Madden fix” rule , the OCC has now issued a proposed rule to address when a national bank or federal savings association should be considered the “true lender” in the context of a third party relationship. Comments on the proposal, which was published in today’s Federal Register , must be filed by September 3, 2020.
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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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