Chris Skinner
JUNE 2, 2020
I got a chart this week that made me smile. This is it … In one month, retail sales jumped massively from 16% to 27% of all sales. The end of main street is nigh. Other facts and figures that made me smile were Amazon’s retail sales jumping 24% in … The post 2030 arrives in 2020 appeared first on Chris Skinner's blog.
Payments Dive
JUNE 2, 2020
The COVID-19 pandemic has led to a shift in payment preferences, as consumers are increasingly using contactless alternatives that can work at the point of sale or remotely.
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Chris Skinner
JUNE 2, 2020
Wondering about the future. Always wondering about the future. Thinking about where things are going. It’s the only thing we don’t know. We know the past; we live in the present; we wonder about the future. What’s my future? What’s your future? What’s the future for our children and our … The post The end of main street appeared first on Chris Skinner's blog.
Perficient
JUNE 2, 2020
Perficient’s Life Sciences practice regularly monitors the software release notes for several Oracle Health Sciences applications, including: Argus Safety. Oracle Clinical/Remote Data Capture (OC/RDC). Thesaurus Management System (TMS). Generally speaking, we review release notes at the beginning of each month for the previous month. On occasion, there are no new releases and, therefore, nothing to review; however, we post a fresh version monthly to eliminate confusion.
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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
JUNE 2, 2020
In his report on the top 10 banking trends for 2020, our global banking lead, Alan McIntyre, made a telling observation: that the focus of Open Banking has shifted from payments initiation services to consumers’ data rights. The impact? Today, banks don’t just need to show that they can be trusted with aggregated customer information.…. The post The impact of new payments methods on the payments landscape 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.
Accenture
JUNE 2, 2020
When transitioning to Open Banking, one of the key considerations for banks is their operating model and governance structure. If banks do not adapt to new ways of working, they may risk losing market share to savvy new digital entrants. In our experience working with banks across the globe, we found that focusing on the…. The post Finding the right operating model and governance for Open Banking appeared first on Accenture Banking Blog.
Chris Skinner
JUNE 2, 2020
Things we’re reading today include … Lending platforms face battle for independence Coronavirus: Debt letters ‘make money problems worse’ UK consumers repay record £7.4bn of debt in Covid-19 lockdown House prices see largest monthly fall for 11 years, says Nationwide Traders want shorter days, says London Stock Exchange The G20 … The post Things worth reading: 3rd June 2020 appeared first on Chris Skinner's blog.
PYMNTS
JUNE 2, 2020
Plutus , a British FinTech startup, is providing rewards via its credit card to customers who buy from the eCommerce store of Nike , Cointelegraph reported. The rewards are made with Pluton, the native digital currency of the company. Users can receive additional rewards by staking their digital tokens through the company’s app. Users have to utilize the Plutus Visa card as they shop through the web to get the benefit.
Bobsguide
JUNE 2, 2020
Presenteeism is a deep-rooted issue in financial organisations, with a drastically negative impact on personal wellbeing and billions of pounds worth of impact on the UK economy. Employees who are physically present but are unable to work at full capacity because of poor mental health are shadows of.
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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
JUNE 2, 2020
Real gross domestic product ( GDP ) is projected to plummet 52.8 percent in the second quarter, according to the Federal Reserve Bank of Atlanta’s GDPNow as of Monday (June 1). The model, which offers a “nowcast” of the official estimate before its release, had forecast a 51.2 percent drop on May 29, according to an announcement. The nowcasts of real personal consumption expenditures growth for Q2 fell from a 56.5 percent drop to a 58.1 percent drop, and real gross private domestic investm
Payments Source
JUNE 2, 2020
Avivah Litan, vice president and distinguished analyst at Gartner, explains the evolving role blockchain has taken during the coronavirus pandemic. Blockchain, originally developed for use with bitcoin, provides a way to bring trust and order to the chaos of the current crisis, but it's no silver bullet.
PYMNTS
JUNE 2, 2020
Financial institutions (FIs), businesses and healthcare providers are adjusting their operations to suit the new reality that the COVID-19 pandemic has caused. Healthcare provideers, for example, are turning to telehealth solutions to service patients for routine appointments as to keep those individuals from entering hospitals or doctors’ offices and risking exposure.
Payments Source
JUNE 2, 2020
The coronavirus pandemic has made paper money literally a dirty word, causing a rush to digital payments that may be too fast for Western Union and MoneyGram to keep up with as separate companies.
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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
JUNE 2, 2020
Wholesaling website Alibaba.com is rolling out a new program that aims to make it easier for small and medium-sized businesses (SMBs) to enter the world of global trading. “Doing business online is the bridge for American small businesses through this crisis and into the next decade,” said John Caplan, president of Alibaba.com for North America and Europe.
Payments Source
JUNE 2, 2020
The global coronavirus outbreak has up-ended daily life for many consumers, including where they shop and how they pay for things. The U.K. is no exception, as issues of health and hygiene have now been introduced as important factors when it comes to both planned and impulse shopping.
PYMNTS
JUNE 2, 2020
DBS Bank India is partnering with Transport Corporation of India Limited (TCIL), which works in supply chains and logistics services, to provide truck drivers with instant payments via an application programming interface (API) solution, according to a press release. The DBS RAPID (Real Time APIs by DBS) system will work with the National Payments Corporation of India ( NPCI ) and UPI payments to integrate with the company’s enterprise resource planning (ERP) system to allow truck drivers
Payments Source
JUNE 2, 2020
Many of the payment innovations of the past decade got an early start in Canada, building a base of users and habits the nation hopes will make the pivot to post-coronavirus commerce easier than other markets.
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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
JUNE 2, 2020
Amazon Technologies Inc. is seeking to create supply chain trust with “verifiable tracking of an item through a supply chain using a distributed electronic ledger,” FreightWaves reported. The company wrote in its United States patent application that it can be challenging, if not impossible, to ascertain the trustworthiness of a party as activities move online and internationally.
Bobsguide
JUNE 2, 2020
Regulators are stifling open banking innovation and competition according to Akber Jaffer, chief strategy officer, Finastra. “When financial institutions open up their [application programming interfaces] it enables collaboration, particularly between the new fintechs as well,” he.
PYMNTS
JUNE 2, 2020
The past several months have been largely defined in the retail world by merchants and brands making quick digital pivots to stay afloat in an environment that’s gone from “digital sometimes” to “digital mostly.”. It’s certainly been a tumultuous period, Anthony Eisen , co-founder and CEO of buy now, pay later (BNPL) firm Afterpay , told Karen Webster in a recent discussion on what’s next for retail and what a recovery might look like.
Payments Source
JUNE 2, 2020
Digital fraud protection provider Kount will be offering real-time fraud screening using adaptive artificial intelligence and machine learning to help Barclaycard’s business clients prepare for Strong Customer Authentication (SCA) requirements, which are part of Europe’s PSD2 directive.
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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
JUNE 2, 2020
Integrity. Honesty. Value. Customer-centricity. The list of positive retail brand attributes goes on and on, but one new post-pandemic value has become more important than all the others: cleanliness. Example: Ted Gallagher is vice president and partner at Environmental Hazards Control , a Lancaster, Pennsylvania-based company that disinfects retail locations and other business facilities.
Payments Source
JUNE 2, 2020
As small-businesses' cash flow tightens during the pandemic, Alibaba Group is enabling SMBs to postpone payments for 60 days on cross-border e-commerce purchases.
PYMNTS
JUNE 2, 2020
Mastercard has added a program designed to assist FinTech startups in Europe with quickly launching and expanding, the company announced on Tuesday (June 2). Mastercard said the program, dubbed “Fintech Express,” will leverage the power of partnerships and the payment giant’s expertise, technology and global network to allow startups to focus on innovation to drive the digital economy.
TheGuardian
JUNE 2, 2020
Campaign bids to change 1970s law forcing UK lenders to issue payments warning Coronavirus – latest updates See all our coronavirus coverage Millions of households that have taken payment holidays on their mortgage or other debt during the pandemic are likely to receive “thuggish” debt threat letters in coming weeks as lenders are legally required to issue the warnings.
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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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