Chris Skinner
MAY 19, 2020
There are lots of headlines and articles talking about the end of the office. You think about it, and it kind of makes sense. In a digital age, why do we have to go to a physical office? Why do we all cram ourselves into buses, cars and trains every … The post What’s the point of an office? appeared first on Chris Skinner's blog.
Payments Dive
MAY 19, 2020
A proposed merger between Uber and Grubhub would have profound implications on an already hyper-competitive food delivery industry in the U.S., potentially putting added pressure on small, independent restaurants.
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Accenture
MAY 19, 2020
European banks have, over the last two years, been navigating an interesting and complicated journey into the world of Open Banking and PSD2. Here at Accenture, we have gained extensive Open Banking experience working with more than 50 banks globally. We’ve helped them to overcome business, technology and operating model challenges and we’ve recommended best….
PYMNTS
MAY 19, 2020
Amazon could be in talks to acquire the bankrupt clothing retailer JCPenney , Fox Business reported, citing Women’s Wear Daily (WWD). JCPenney officially filed for bankruptcy late Friday (May 15), ending speculation as to the beleaguered former retail titan’s financial status. Now, Amazon could be moving in. One source, according to WWD as reported by Fox Business, was “in Plano as we speak,” referring to the Texas city where JCPenney is headquartered.
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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
Payments Source
MAY 19, 2020
Getting rid of passwords is easier in concept than practice, with hundreds of initiatives designed to build something more digital, flexible and transportable. But none have taken hold, causing one developer to try an approach that rejects most of the prevailing methods.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Source
MAY 19, 2020
The $43 billion deal was one of a series of payment mergers in 2019 that were designed to combine bank technology and merchant acquiring across multiple markets and industries while warding off ascendant fintechs offering fast access to digital payments and working capital.
PYMNTS
MAY 19, 2020
To enable businesses to more easily list their merchandise on its social media platforms, Facebook has unveiled Facebook Shops. The free feature will allow companies to place product listings on their Facebook Page, Instagram profiles and stories, or in ads, CNBC reported. The social media company had allowed companies to list items on Instagram and Facebook in the past.
Bobsguide
MAY 19, 2020
The IRS is evolving its efforts to crack down on crypto tax non-compliance, recruiting independent contractors obtain cryptocurrency transactions data. On May 12, software provider CryptoTrader.Tax released an email it received from the IRS, in which the government body said it was “placing.
PYMNTS
MAY 19, 2020
Payment collections software company Ontario Systems has acquired SwervePay to help bolster its electronic payment capabilities, according to a press release. Electronic payments processing is becoming “increasingly critical” for Ontario Systems’ customers, which mandated the acquisition of SwervePay acquisition, a payment facilitator in the accounts receivable management and healthcare industries.
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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
ATM Marketplace
MAY 19, 2020
ATM Marketplace spoke with Simon Powley, head of global advisor consultant services with Diebold Nixdorf, on how self-service and omnichannel banking will affect financial institutions post-pandemic.
PYMNTS
MAY 19, 2020
The digital shift will not have paper coupons. It remains to be seen if the pandemic and its hypervigilance about potential germs will wash what’s left of them away, but digital coupons are growing right along with the crisis-driven move to eCommerce. Inmar Intelligence , one of the leaders in digital couponing, reported last week that enrollment in digital coupon programs among the top 30 percent of national grocery chains has grown 93 percent year over year since March 1.
Payments Source
MAY 19, 2020
As consumers dump cash and traditional point of sale hardware for contactless payments, PayPal has added support for QR codes in 28 countries.
PYMNTS
MAY 19, 2020
As it leaned into its digital businesses with its stores closed amid the pandemic, Kohl’s Corporation saw its digital sales rise 24 percent for the quarter and accelerate to 60 percent in April. CEO Michelle Gass said in a Tuesday (May 19) first-quarter earnings call with analysts that the retailer amplified its digital marketing efforts and revised its online site content.
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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.
Payments Source
MAY 19, 2020
Visa Inc. Chief Executive Officer Al Kelly said he expects a majority of the firm’s employees will continue working remotely through the end of the year.
PYMNTS
MAY 19, 2020
The Brazil cosmetics company that bought Avon Products Inc. in January accidentally exposed personal information about 250,000 of its customers that could have been accessed by anyone, The Hacker News reported. Natura & Co. , based in Sao Paulo, inadvertently left hundreds of gigabytes of its customers’ personal and payment-related information publicly available online.
Payments Source
MAY 19, 2020
Mobile's already responsible for more than half of online fraud, and that will get worse, says ClearSales's Bernardo Lustosa.
PYMNTS
MAY 19, 2020
A former clerk for U.S. Supreme Court Justice Anthony M. Kennedy and late Supreme Court Justice Lewis F. Powell Jr. has been named general counsel to the Libra Association , a Geneva-based group founded by Facebook to launch the social media company’s digital currency, the organization announced Tuesday (May 19). Robert Werner brings regulatory, financial crime compliance and enforcement experience from his work in the public and private sectors, Libra said.
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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.
Jeff For Banks
MAY 19, 2020
"How much more abuse can small businesses take from big banks?" ~ Community Bank CEO PPP is winding down. Community banks not only took care of their small to medium sized businesses (SMEs), but also helped big bank customers when their calls went unanswered. Why? Because the big banks prioritized. It was a first come, first served program. And the race to the gate was intense.
PYMNTS
MAY 19, 2020
Jamie Dimon, CEO of JPMorgan Chase , said in a memo that the coronavirus pandemic has revealed weaknesses that require a bipartisan approach to correction. The note came out ahead of the shareholder meeting that was held remotely on Tuesday (May 19). “As a nation, we were clearly not equipped for this global pandemic, and the consequences have been devastating.
MerhantsBanks
MAY 19, 2020
Jarett Jones has joined Merchants Bank as Vice President/Commercial Banker, according to Dan Nistler, President for Merchants Bank in Rochester. “We’re pleased to be expanding our business team in Rochester to serve the needs of local businesses as a trusted financial advisor. With Merchants’ growth in Rochester, Jarett’s knowledge of the local market will be […].
PYMNTS
MAY 19, 2020
When the going gets tough, the tough go to Walmart. That’s one of the main takeaways to come out of Walmart’s first-quarter earnings release Tuesday (May 19). While businesses nationwide have seen their doors close and revenues drop to near zero, Walmart reported that its sales surged as consumers flocked to its stores and website to stock up for an extended period of social distancing.
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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.
BankInovation
MAY 19, 2020
Data aggregator Plaid has launched an open-banking platform for lenders in a bid to promote the use of APIs and secure data exchange among financial institutions, regardless of their size, the company announced today. Plaid Exchange allows lenders and wealth management firms to manage the secure data connectivity of their customers’ financial lives, even if […].
PYMNTS
MAY 19, 2020
The pandemic has spurred any number of efforts across various countries to restart economies as they emerge from lockdown. For India, in particular, the coronavirus has exposed some challenges for eCommerce giants such as Flipkart and Amazon – and now, there’s a new initiative to spur consumers to “buy local.”. As noted in this space back in March, soon after a nationwide lockdown became official in India, district- and state-level restrictions tied to curfews (which hindered staffers from going
American Banker
MAY 19, 2020
Sen. Elizabeth Warren is calling on the Federal Reserve to hold corporate executives personally liable if they take bailout money intended to bolster credit markets and fail to meet all the certification requirements.
PYMNTS
MAY 19, 2020
Walmart announced its first-quarter earnings this morning (May 19), crushing even the highest expectations for in-store as well as eCommerce revenue. In-store comps were up 10 percent over 2019 and eCommerce spiked 74 percent as consumers stocked up on essential and nonessential goods. By Walmart’s fiscal calendar, the quarter began Feb. 1 and ended May 1, which encompasses the beginning of the pandemic crisis and stay-at-home orders as well as the beginning of the recovery.
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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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