Perficient
DECEMBER 30, 2020
The COVID-19 pandemic stressed everyone in 2020. Many of our clients had prepared their digital businesses ahead of time and survived. Other companies who were late to creating digital customer experiences suffered as people stayed away from traditional stores and shopped online. But even the best companies struggled to keep customer satisfaction levels high during 2020.
PYMNTS
DECEMBER 30, 2020
A lawsuit filed by the Securities and Exchange Commission (SEC) against digital payments firm Ripple is heading to virtual court on Feb. 22, according to legal documents filed in the U.S. District Court of the Southern District of New York. Legal counsel for those named in the suit — Ripple Labs, CEO Bradley Garlinghouse and Executive Chairman and Co-founder Christian Larsen — were called to appear in an online pretrial conference with Judge Analisa Torres. .
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Perficient
DECEMBER 30, 2020
It is standard practice to use the DATA COPY function to copy actuals for the current and previous months to forecast in BSO cubes to support the forecasting for the business FP&A departments. When it comes to ASO cubes it’s a little bit challenging with the combination of MaxL script to invoke a calc script to provide the same functionality.
PYMNTS
DECEMBER 30, 2020
With trade shows canceled and enterprise digitization accelerated, 2020 was a big year for the adoption of B2B eCommerce. Whether through the use of online marketplaces or proprietary supplier portals, B2B sellers embraced the opportunity to connect with business customers online, while buyers reciprocated by sourcing, procuring and paying for goods the way they do in their personal lives.
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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
DECEMBER 30, 2020
When the Chinese banking authorities finish reshaping Jack Ma’s empire, the only thing he may have left is Alipay — which would still be the world’s most popular mobile and online payments app.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Source
DECEMBER 30, 2020
Nearly 70% of consumers surveyed said they were confident in their ability to pay their full monthly statement in December, up 5 percentage points from November, according to monthly data from the online lending marketplace LendingTree.
PYMNTS
DECEMBER 30, 2020
If there’s a word that captures the state of financial services in 2020, it’s “acceleration.” Between the explosion of the digital economy driven by the pressures of the pandemic and the radical realignment of consumer preferences that has happened as a result, the year 2020 has seen digital payments accelerate at something approaching warp speed. At Mastercard , Executive Vice President of North America Products and Innovation Jess Turner told Karen Webster in a recent discussion, the rapid acc
Payments Source
DECEMBER 30, 2020
There's a wide open market with plenty of opportunity not just for challenger banks but for financial technology as an industry to set themselves apart from incumbents and gain market share, says Veem's Marwan Forzley.
PYMNTS
DECEMBER 30, 2020
The pandemic has heaped financial hurt on millions of consumers globally, prompting them to trim their shopping lists and seek flexible ways to make purchases. Evidence reveals that these habits picked up steam during the 2020 holiday shopping season, with PYMNTS research finding that 4 percent of Americans used buy now, pay later (BNPL) methods for their Black Friday purchases.
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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
Payments Source
DECEMBER 30, 2020
With many impacted businesses still not ready to comply with the now enforceable CCPA, CPRA affected payment processors should start preparing for this new piece of legislation, says Abine CEO Rob Shavell.
PYMNTS
DECEMBER 30, 2020
At a time when 90 percent of Americans have never owned bitcoin and nearly 70 percent say they have no plans to do so in the future, the thought of widespread adoption and usage of cryptocurrency seems to be a distant prospect for most people. Ternio CEO Daniel Gouldman , however, is not one of them. “I would not be surprised if in five years, most money as we know it is basically cryptocurrency,” Gouldman said in a recent interview with PYMNTS.
Payments Source
DECEMBER 30, 2020
As the pandemic accelerates a broad business shift away from cash payments, Pablo Martinez, marketing leader at startup Pay Theory, recalls hearing how his Puerto Rican father and Guatemalan mother struggled for years to enter the U.S. banking system.
PYMNTS
DECEMBER 30, 2020
Payactiv 's Earned Wage Access (EWA) program is exempt from federal lending law under new rules from the Consumer Finance Protection Bureau (CFPB), according to a press release. The CFPB ruled that the EWA program isn't credit and thus doesn't have to abide by the federal Truth in Lending Act (TILA) and Regulation Z rules, which govern creditors, the release stated.
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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.
BankInovation
DECEMBER 30, 2020
Trovata, a cash management automation platform, is poised for growth in 2021, with plans to quadruple its client base, founder and CEO Brett Turner told Bank Innovation. The San Diego, Calif.-based startup, which launched in the second quarter of 2019, develops software that tracks cash movement, normalizes data and automates forecasting, reporting and analysis.
PYMNTS
DECEMBER 30, 2020
Department stores are struggling in a digital-first economy, while forward-thinking retailers are looking at the returns process as an opportunity to create a positive customer experience. In eCommerce, Amazon is reporting a blockbuster holiday shopping season that saw toys, electronics and household products delivered amid the global pandemic.
BankBazaar
DECEMBER 30, 2020
Don’t know much about Credit Scores and how they are calculated? Then, this post is for you! We’re pretty sure you know that your Credit Score affects your eligibility for Loans & Credit Cards. But do you know what exactly a Credit Score is and how it is calculated? We’ll tell you all about it. What Is A Credit Score? It is a three-digit score populated based on your past credit-related financial transactions.
PYMNTS
DECEMBER 30, 2020
This year will not only go down in history as “the year of the pandemic,” but for consumer packaged goods brands, it will also be known as “the year of direct to consumer.”. Big brands like Nike and Pepsi jumped into D2C sales in a big way – partly out of necessity amid the digital shift, but also because it turns out that selling directly to consumers is actually a pretty good business.
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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.
CFPB Monitor
DECEMBER 30, 2020
The Federal Housing Finance Agency (FHFA) recently issued a request for information ( RFI ) seeking input on appraisal-related policies, practices and processes in connection with home mortgage loans. Comments will be due 60 days after the RFI is published in the Federal Register. FHFA is seeking input on four main topics: Aspects of Fannie Mae and Freddie Mac (the “Enterprises”) appraisal policies, practices, and processes, especially as they relate to modernizing the appraisal process and bala
PYMNTS
DECEMBER 30, 2020
Uber trips will jump 24 percent in cost starting in the new year in Seattle, with the rideshare company raising prices to accommodate a new law requiring drivers be paid the city's minimum wage, GeekWire reported. In September, the Seattle City Council unanimously voted to adopt new rules which force Uber and Lyft to let their drivers earn the city's $16.69 minimum wage in 2021.
CFPB Monitor
DECEMBER 30, 2020
Less than six weeks after hearing oral argument , a unanimous panel of the U.S. Court of Appeals for the Ninth Circuit ruled that the CID issued to Seila Law was validly ratified by Director Kraninger and affirmed the district court’s decision granting the CFPB’s petition to enforce the CID. After ruling that the CFPB’s structure was unconstitutional because its Director could only be removed by the President “for cause,” the Supreme Court remanded the case to the Ninth Circuit to consider the C
PYMNTS
DECEMBER 30, 2020
It started with a simple premise. PYMNTS asked a cross-section of the companies we work with to give us their take on their wishes for the world as we approach 2021. In addition, we wanted to know how these companies and executives were planning for a new era when businesses and the economy start to bounce back. Lest anyone think the responses were predictable and safe, think again.
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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.
BankDeals
DECEMBER 30, 2020
evergreenDIRECT Credit Union (WA) offers its Kasasa products statewide, including the Kasasa Cash checking account and Kasasa Saver savings account.
PYMNTS
DECEMBER 30, 2020
Binance , Bittrex and Crypto.com have all announced that they will delist XRP following last week’s news that the U.S. Securities and Exchange Commission filed a lawsuit against Ripple for trading the cryptocurrency without registering it as a security. Binance said in a blog post that it will suspend XRP trading on Jan. 13, and it noted that while customers won’t be able to deposit XRP, they will be able to withdraw it.
American Banker
DECEMBER 30, 2020
Bank regulators traditionally steer clear of more divisive debates in a polarized Washington. But some observers worry acting Comptroller Brian Brooks has gone too far by wading into issues such as public health orders and banks' decisions to curtail services to the gun and fossil fuel industries.
PYMNTS
DECEMBER 30, 2020
There’s no arguing the fact that Amazon has been a lifeline for small businesses this year. During the extended holiday season, the eCommerce giant says its independent sellers saw their sales grow more than 50 percent over 2019. And while the eCommerce champion said it delivered more than 1.5 billion gifts this season, nearly one billion products were sold by third-party sellers.
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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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