Chris Skinner
JULY 6, 2020
I got an amazing reply to my post yesterday. I cannot say from whom – that’s part of the thing – but it’s such a good reply, I’m sharing it here. For me, it shows how the internet has changed the world – I can write a blog from Poland, … The post Am I wrong about Hong Kong? appeared first on Chris Skinner's blog.
Perficient
JULY 6, 2020
As times have evolved so have our data challenges — but we have been trying to solve it by giving it dedicated resources and we still end up missing SLAs in our traditional On Premise worlds. Add to the fact the constant dependency on personnel to manage the data loads, data ops, size of the database and on and on. When you look at a Modern data platform you are basically looking at something that will scale to your pipeline needs , be agile in the works, fully managed, does not need data
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Chris Skinner
JULY 6, 2020
Things we’re reading today include … Lloyds boss António Horta-Osório to step down next year HSBC glitch led to thousands of small business loans in the wrong name Wirecard executive arrested in Munich on suspicion of fraud Departure of Horta-Osório no bad thing for Lloyds at this time Gambling charity … The post Things worth reading: 7th July 2020 appeared first on Chris Skinner's blog.
South State Correspondent
JULY 6, 2020
Underappreciated in the banking industry is the growing role of identity and access in banking. As banks build their digital strategies, we need to stop and think about how we know our customers (identity) and how we know that the verified customer we believe is trying to access a banking channel is really the customer we think it is (access). In this article, we explore the concepts of identity and access management (“IAM”) and how they should fit into every bank’s long-term strategy, especiall
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.
PYMNTS
JULY 6, 2020
If your business touches retail in any way, it might pay to follow a few important breadcrumbs. Nike posted its lowest quarterly sales in two years, along with a $790 million quarterly loss, when it reported its Q1 2020 earnings in late June. A key driver of the results was a 50 percent reduction in wholesale shipments and canceled orders from physical stores that had closed.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
JULY 6, 2020
Anyone who has ever driven North on Route 1 from Boston, Massachusetts, has seen Kowloon Restaurant. It’s hard to miss. The iconic Chinese restaurant and cocktail lounge is a huge angular structure with pagoda-style roofs and a totem pole visible from the highway. Over the past 50 years, the Wong family has been the owners and operators, constantly adding themed dining rooms and even a comedy club.
Payments Source
JULY 6, 2020
Vodacom's Tanzania M-Pesa wallet is expanding its money transfer services throughout Africa, enabling more than 200 countries globally to now send money to and receive it from Tanzania.
PYMNTS
JULY 6, 2020
Wirecard executive Oliver Bellenhaus, 46, has been arrested in Munich for his alleged central role in the massive worldwide fraud case currently enveloping the company, the Financial Times (FT) reported. Bellenhaus was in charge of Wirecard’s CardSystems Middle East and ran that division primarily from his apartment in Dubai’s Burj Khalifa, the world’s tallest building, FT reported.
Payments Source
JULY 6, 2020
The coronavirus outbreak is still very much an economic crisis, but that doesn't mean the best solution is to keep on selling.
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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
JULY 6, 2020
Indonesian payment processor Payfazz has secured $53 million in Series B funding, numerous media outlets reported Monday (July 6). Jakarta-based Payfazz operates through agents — the company’s network consisted of more than a quarter million — who process payments to pay utility bills, buy telephone time and add to mobile wallets, Tech in Asia reported.
Bobsguide
JULY 6, 2020
While most sellside firms are prepared for phase one of the Securities Financing Transaction Regulation (SFTR) to commence on July 13, complications remain for buyside firms regarding the exchange of unique transaction identifiers (UTIs) and finalisation of reporting models.
PYMNTS
JULY 6, 2020
Discover Financial Services has launched a $5 million program targeting Black-owned restaurants. The move comes against the backdrop of the COVID-19 economic crisis and the Black Lives Matter protests that have swept the country. The Riverwood, Illinois company said the move was “an effort to support the restaurant industry as it rebounds” from the pandemic and associated lockdowns.
American Banker
JULY 6, 2020
Jane Gladstone, new president of Promontory Interfinancial Network, says the recession will accelerate the shakeout among the nonbank disruptors and that small banks have an opportunity to forge new bonds with the survivors.
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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 6, 2020
London-based global payments and foreign exchange company moneycorp has announced its expansion into Canada. The move, which is being spearheaded by moneycorp Americas, will enable the company to serve both private and corporate in customers in Canada and comes after two decades of work in the United States focused on “private clients’ money transfers, corporate risk management and global payments solutions,” the company said in a Monday (July 6) press release.
BankBazaar
JULY 6, 2020
Although there are many options to stack your emergency cash, you should choose an investment option which is easily accessible. Here are a few such options. The current pandemic has taught each of us many key life lessons. But the biggest one surely is the importance of sound financial planning and always having enough funds stocked up for times when life is literally giving you lemons.
PYMNTS
JULY 6, 2020
Only halfway in, 2020 feels, of course, like a decade’s been packed into six months. And to get a sense of where we are headed for the remainder of the year, one needs to look only slightly over one’s shoulder. The signs are a bit ominous for the U.S. consumer — and by extension, retailers. The High-Level View. At a high level, late last month, the trade group known as the Business Roundtable — comprised of the CEOs of the biggest companies in the U.S. — released its second-quarter report.
Banking Exchange
JULY 6, 2020
Small and medium-sized banks have raised tens of millions of dollars through debt issuance while interest rates are low Community Banking Feature3 Feature Management Financial Trends Compliance Compliance/Regulatory Covid19.
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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 6, 2020
Among the casualties of the pandemic: The gig economy. As estimated by PYMNTS, 40 percent of gig workers have lost at least $10,000 of income since the start of the pandemic. That implies a sizable economic impact, considering that 53 million individuals in the U.S. are gig workers. On a good day, or in a good month, the nature of gig work can charitably be called volatile.
Banking Exchange
JULY 6, 2020
The $24.6 billion banking giant has agreed to sell two branches to M&M Bank and 22nd State Bank, while PA-based Community Bank is closing two premises Management Feature M&A Feature3 Community Banking.
PYMNTS
JULY 6, 2020
The number of homeowners in the mortgage bailout program under the federal CARES Act fell by 104,000 from June 23 to June 30 — the largest one-week drop since the start of the program, reported CNBC. On the other hand, the number of those in the forbearance program is still high, encompassing 4.58 million homeowners, as of June 30. That’s 8.6 percent of active mortgages.
SWBC's LenderHub
JULY 6, 2020
What Happened: Despite worsening COVID-19 news, stocks managed to explode higher for the holiday-shortened week with the NASDAQ hitting another all-time high on Thursday. Nationwide, daily COVID cases rose to 50,000 per day with Texas, Florida, Arizona, and California leading the way. In response, all four states rolled back a fair amount of their economic reopening plans.
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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.
PYMNTS
JULY 6, 2020
Steady digitization in stale B2B payments and the open banking movement are two closely related and increasingly exuberant expressions of money’s digital makeover. While much of the legal framework has come from European Union (EU) regulators, it is a loose alliance of financial institutions (FIs), heavy-duty tech players and nimble FinTechs making breakthroughs.
Matt Wilcox Pro
JULY 6, 2020
Here’s an interesting prediction from the February 25, 1966 issue of TIME magazine: “By 2000, the machines will be producing so much that everyone in the U.S. will, in effect, be independently wealthy.” I don’t think I’m being premature when I say I think the magazine missed the mark with that one. Not that I […].
PYMNTS
JULY 6, 2020
The CEOs of Amazon , Apple , Facebook and Google parent Alphabet will all appear before Congress this month as part of a governmental probe into their companies, Reuters reported, citing a statement from the House Judiciary Antitrust Subcommittee. House Judiciary Panel Chair Jerrold Nadler and Antitrust Subcommittee Chairman David Cicilline said it is “essential” that the CEOs give testimony.
CFPB Monitor
JULY 6, 2020
As previously reported , the Economic Growth, Regulatory Relief, and Consumer Protection Act (Growth Act), also known as S.2155, directs the CFPB to implement an exemption from the mandatory escrow account requirement for higher-priced mortgage loans (HPMLs) under the Truth in Lending Act (TILA) and Regulation Z for certain insured credit unions and insured depository institutions.
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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.
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