Mon.Aug 10, 2020

FinCEN Releases New Advisory on Cybercrime During COVID-19

Abrigo

Key Takeaways Criminals are using common typologies to exploit people during the COVID-19 pandemic. Cybercriminals are targeting remote platforms and processes. There has been an increase in business email compromise schemes during the pandemic. .

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Mercari US CEO: Modernizing Marketplaces For The Casual Seller

PYMNTS

If America ever needed a digital estate sale — or even a garage sale, for that matter — it’s right now. Tens of millions of financially strapped or suddenly unemployed people are seeing rent and bill payments locked in the form of gifts and purchases they’re ready to part with. What they need is an online auction marketplace. Plenty of those around. But it’s not really as easy as that anymore, is it? Successful online selling, especially on a one-off basis, is tough.

US 196

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FinCEN Releases New Advisory on Cybercrime During COVID-19

Abrigo

Key Takeaways Criminals are using common typologies to exploit people during the COVID-19 pandemic. Cybercriminals are targeting remote platforms and processes. There has been an increase in business email compromise schemes during the pandemic. . As the COVID-19 pandemic continues to wreak havoc around the globe, related fraud continues to escalat e. Bad actors strive to be one step ahead of detection and are eager to take advantage of the new vulnerabilities people face.

Fraud 150

Western Union CEO: ‘We’re On An M&A Hunt’

PYMNTS

One of the world’s largest digital money movers could be getting bigger. The Financial Times (FT) reported Western Union (WU) is planning to use opportunities arising from the pandemic to gobble up its weaker rivals. “I I am pretty active on the mergers and acquisitions front,” CEO Hikmet Ersek told the newspaper. Our financial position is much better than any competitors. We have a good cash flow position even through COVID-19, and some competitors struggle.”.

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Intelligent Process Automation: Boosting Bots with AI and Machine Learning

Across all sectors, companies are learning that they can transform their businesses by embracing Intelligent Process Automation, or IPA. With the pairing of AI and RPA, IPA adds a new layer of intelligent decision-making processes to automated RPA tasks. By automating repetitive work, and adding the ability to automate intelligent decision making, intelligent automation frees up your most valuable resources – your employees – to spend more time on higher value and more strategic work. But in order to reap the rewards of Intelligent Process Automation, organizations must first educate themselves and prepare for the adoption of IPA. In our ebook, Intelligent Process Automation: Boosting Bots with AI and Machine Learning.

Why Kroger finally said yes to NFC

Payments Source

It took years for NFC payments to gather momentum in the U.S., with merchants initially dragging their heels to enable contactless technology at payment terminals and banks waiting until 2018 to begin the slow rollout of NFC-enabled cards. Contactless payments NFC Walmart Merchant Kroger MCX

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More Trending

When Will Your Bank Start Using Chat and Chatbots?

Banker to Banker

It is not a question of “if” it is only a question of “when” you will start deploying chat and chat automation at your bank. It should be on your radar screen for several reasons, the first of which is that it will soon be the fastest growing and the most preferred communication channel among your customers. That trend got a boost when Apple announced last week the production release of its Business Chat product

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How The COVID-19 Pandemic Is Pushing Checks Out Of The Investment Disbursement Business

PYMNTS

Digital payment tools and technologies have seen steady increases in adoption over the past several years, but legacy methods are still holding on in certain industries. These include the investment world, where paper checks are often used to pay out quarterly dividends or other such disbursements. Paper checks’ drawbacks for such payments have been evident for some time as they represent both a time-consuming and costly way to send out disbursements.

Banks, fintechs must reframe data privacy debate

Payments Source

Financial firms could lose access to data that’s critical to their businesses if Congress passes a privacy bill. To change lawmakers’ minds, they need to show how data in the right hands has the power to improve customers’ lives. Fintech Data privacy Consumer banking

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What Overcoming Inertia Tells Us About The Future of Physical Retail

PYMNTS

By now, you’ve no doubt heard the story about how Isaac Newton turned quarantining during London’s outbreak of the Bubonic Plague between 1665 and 1667 into a time of great focus and innovation. Newton’s sojourn out of Cambridge, England, where he was attending Trinity University, to his family home in Woolsthorpe in order to avoid the risk of infection produced some of the world’s most important scientific and mathematical discoveries.

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The Best Sales Forecasting Models for Weathering Your Goals

Every sales forecasting model has a different strength and predictability method. It’s recommended to test out which one is best for your team. This way, you’ll be able to further enhance – and optimize – your newly-developed pipeline. Your future sales forecast? Sunny skies (and success) are just ahead!

Commercial Lender Survey Results

Banker to Banker

We sent out a survey to several thousand community bankers across the country to understand bankers’ concerns, challenges, and opportunities in the current business environment. We feel that organizing an exchange of ideas and sharing of strategies is beneficial to many bankers. We also offered resources (videos, white papers, policies, marketing material, online proposal generators, and calculators) to help bankers obtain information based on their specific survey responses.

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TSA Screens 800,000 At US Airports In A Day, Making Airline Stocks Lift

PYMNTS

The Transportation Security Administration (TSA) reported that it served over 800,000 individuals at American airport screening lanes Sunday (Aug. 9), the first occasion since March 17, and major U.S. air carrier stocks were on the uptick Monday (Aug. 10) on the news, Reuters reported. For example, American Airlines Group stock rose 8.2 percent in trading during the middle of Monday. Shares in the company closed out the day at $14, up some 7.5 percent on the day. On Sunday (Aug.

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All currency needs to be local

Payments Source

As the global economy continues to unlock more opportunities for cross border transactions and payments, the ability for businesses to communicate with global consumers in their language (or currency) of choice is vital, says Fiserv's Brian Frey. Cross border payments Digital payments Payment processing

Foot Locker Reports Same Store Sales Up 18 Pct

PYMNTS

Foot Locker Inc., the New York-based athletic retailer, reported comparable store sales increased by 18 percent in the second quarter (Q2) that ended Aug. 1 as the chain reopened and sales unexpectedly increased. Shares of Footlocker stock rose to $30.50 per share in premarket trading Monday (Aug. 10), up from $27.48 at the close on Friday (Aug. 7), a nearly 11 percent increase.

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How Banks Are Winning with AI and Automated Machine Learning

Banks have always relied on predictions to make their decisions. Estimating the risks or rewards of making a particular loan, for example, has traditionally fallen under the purview of bankers with deep knowledge of the industry and extensive expertise. But times are changing. Today, banks realize that data science can significantly speed up these decisions with accurate and targeted predictive analytics. By leveraging the power of automated machine learning, banks have the potential to make data-driven decisions for products, services, and operations. Read the white paper, How Banks Are Winning with AI and Automated Machine Learning, to find out more about how banks are tackling their biggest data science challenges.

Visa debuts consumer finance sector’s green dollar bonds

Payments Source

Visa Inc., the world’s largest payments network, is breaking ground by tapping the bond market to fund environmentally friendly projects. Wells Fargo Visa Google Bonds

California Judge: Uber, Lyft Can’t Call Drivers Contractors

PYMNTS

A California judge has passed an injunction to force Uber and Lyft to stop classifying their workers as independent contractors rather than employees, CNBC reported. The order, pending further court action, will take place in 10 days. The companies have requested a brief stay for appeals. The issue of how the gig workers for the two largest U.S. rideshare companies are classified has been a heated one for some time.

Facebook Financial formed to pursue company’s commerce ambitions

Payments Source

Facebook Inc. unveiled a new group to pursue payments and commerce opportunities and put David Marcus, co-creator of its Libra cryptocurrency project, in charge of the initiative. Mobile payments Digital payments David Marcus Facebook Libra

New Data: Receivers Value Instant Payouts Enough To Pay To Get Them

PYMNTS

Consumers have long used the internet to purchase everything from meals to clothing, and the ongoing COVID-19 pandemic is only accelerating the shift toward digital commerce. This is in turn driving a need for fresh financial solutions that can help customers pay — and get paid — fast.

B2B Pocket Playbook: End-to-End Guide to Sales Enablement

Sales enablement is the strategic process of providing sales teams with the content, guidance, and mentorship needed to engage targeted buyers. It’s all about equipping sales professionals with the tools they need to put their best-selling foot forward. And if sales teams want to continuously sell better -- and faster -- their sales enablement process must have a game-winning strategy. It's time for you to start selling smarter - and hitting your sales number - with the best B2B database in the market. Get started today.

How 7 payments industry leaders vowed to promote racial diversity

Payments Source

Facing Wall Street analysts for the first time after the murder of George Floyd, CEOs of major payment companies joined other financial services firms in promising to improve fairness and opportunities for Black people and other underrepresented groups. Diversity and equality Alternative acquirers Discover PayPal Square Digital payments American Express Mastercard Visa Credit cards Apple

Foot Locker’s Sales Spike Is Good News For Nike 

PYMNTS

Good news from athletic retailer Foot Locker looks like it’s good news for shoe giant Nike as well. Both companies stocks rallied on Monday (Aug. 10) after Foot Locker reported an 18 percent spike in second-quarter comparable store sales, attributing the gains to pent-up demand and U.S. government stimulus payments amid the pandemic.

Pandemic powers digital debit, Apple Pay

Payments Source

The shift to electronic payments during the coronavirus has led to a notable increase in in-app debit card payments—particularly via Apple Pay—along with higher levels of direct debit and P2P debit card transfers. Venmo Digital payments P-to-P payments Apple Pay Mobile wallets

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Bitcoin Daily: India Sees Rise In Fake Crypto Wallet Scams; Crypto Exchanges Vulnerable In How They Hold User Funds

PYMNTS

A number of wealthy Indian business owners have succumbed as of late to scams that robbed them of their cryptocurrency, according to an India TV news report. The scams are coming by way of fake Bitcoin wallets that trick victims into fraudulent trade agreements before disappearing completely. Manan Shah , founder and CEO of Avalance Global Solutions , said he had seen “so many wealthy Indian falling into the trap of such fake cryptocurrency wallets in the recent past.”

How Banks Are Winning with AI and Automated Machine Learning

Banks have always relied on predictions to make their decisions. Estimating the risks or rewards of making a particular loan, for example, has traditionally fallen under the purview of bankers with deep knowledge of the industry and extensive expertise. But times are changing. Today, banks realize that data science can significantly speed up these decisions with accurate and targeted predictive analytics. By leveraging the power of automated machine learning, banks have the potential to make data-driven decisions for products, services, and operations. Read the white paper, How Banks Are Winning with AI and Automated Machine Learning, to find out more about how banks are tackling their biggest data science challenges.

Follow These Simple Tips To Become Financially Independent

BankBazaar

Financial independence doesn’t have to be out of your reach. Here are a few simple tips to become a financially-independent individual. Who doesn’t desire to lead a life without any financial constraints? Unfortunately, the vast majority of us find it extremely hard to attain financial independence or ‘Findependence’. Being a young adult, who has just stepped out of college and thrust into your first job, can be one of the most difficult phases in life, financially speaking.

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Deep Dive: The Pressures Pushing Banks To Modernize Their Payments Infrastructures

PYMNTS

A multitude of payments flow between businesses, government agencies, individuals and others in the U.S. The Federal Reserve recently estimated that there were 174.2 billion non-cash payments with a total value of $97.04 trillion in 2018, marking a $10.25 trillion rise from 2015. Credit and debit card payments accounted for 75.3 percent of all non-cash payments made, with debit cards being roughly twice as popular as credit cards.

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Fintech catching up on the recent SPAC IPO boom

Daily Fintech

Efi Pylarinou is the founder of Efi Pylarinou Advisory and a Fintech/Blockchain influencer – No.3 influencer in the finance sector by Refinitiv Global Social Media 2019. July was the month with the Mega-SPAC filing of $4billion. Bill Ackman’s Pershing Square Capital Management filed an amended IPO prospectus for its coming monster-size SPAC focused on the tech sector. Let’s see if some Fintech ends up in this SPAC. It Has […].

Why Payments Personalization Is Key To Enhancing User Experience For Digital Content Platforms

PYMNTS

Consumers have come to expect personalization in their shopping experiences, whether using online marketplaces such as Amazon and Etsy or mobile apps such as Gilt or Poshmark. Product recommendations, informed by purchase histories and preferred payment methods, are becoming a standard aspect of digital checkout experiences. Online content subscription purchasing experiences are far different from that ideal in practice, however.

Pressure Points: How to Ensure Your B2B Pipeline Passes Inspection

This eBook highlights best practices for developing a pipeline management process that helps sales leaders and their team C.L.O.S.E (you’ll see what we mean in this eBook) more revenue through data-driven prospecting, stage analysis, and subsequent sales enablement.