Chris Skinner
APRIL 12, 2020
I’ve been writing a lot about purpose-driven banking, a theme that resonates around the idea that business focus should be more than just making money. It should also focus upon doing good for society and the planet. So, I was particularly struck by this quote from Satya Nadella, CEO of … The post Will you avoid companies that put profit before people?
PYMNTS
APRIL 12, 2020
JPMorgan Chase is attempting to stave off the oncoming economic downturn by raising the standards on who can borrow from them for the time being, according to a Reuters report. The new standards will make it so customers applying for a new mortgage will need a credit score of 700 or higher and will have to make a down payment of 20 percent of the home’s values.
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Chris Skinner
APRIL 12, 2020
The main blog headlines are … How JPMorgan Chase, BBVA, ING, DBS and CMB are doing digital Today is the day that Doing Digital, my newest book, is finally live on Amazon and all good book stores. It’s the result of two years primary and secondary research and, to pay … The post The Finanser’s Week: 6th April 2020 – 12th April 2020 appeared first on Chris Skinner's blog.
PYMNTS
APRIL 12, 2020
Italian bank Monte dei Paschi was the victim of a hacking attempt, according to a notice seen by reporters recently, Reuters reported. The state-owned bank did not comment but told clients in an email that the attack was on some of the employees’ mailboxes. Some voicemail messages had been sent as attachments because of the attack. The notice did not say there had been any breach of company data, and it didn’t say if customers had lost anything or what the fraudulent emails had been
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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
Chris Skinner
APRIL 12, 2020
Things we’re reading today include … US banks to report earnings under shadow of coronavirus What to Keep an Eye On in Q1 Bank Earnings Reports Just 1.4% of firms enquiring about UK coronavirus business loans successful Loans scheme must work faster, government admits Banks should not be shamed into … The post Things worth reading: 13th April 2020 appeared first on Chris Skinner's blog.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Source
APRIL 12, 2020
The $2 trillion coronavirus rescue package and other government moves are designed to provide a lifeline for small businesses, but it also creates complications as businesses must quickly accumulate payment records and other information to apply for the loans.
PYMNTS
APRIL 12, 2020
PayPal has become one of the first non-bank institutions allowed to distribute loans to help small- to medium-sized businesses (SMBs) in response to the coronavirus pandemic, according to a press release. The digital payments platform will now be able to give loans to SMBs that apply for loans under the Small Business Association’s (SBA’s) Paycheck Protection Program (PPP).
Payments Source
APRIL 12, 2020
PINs and passwords are increasingly viewed as insufficient to tackle this new standard, says Fingerprints' Jonas Andersson.
PYMNTS
APRIL 12, 2020
PayPal has become one of the first non-bank institutions allowed to distribute loans to help small- to medium-sized businesses (SMBs) in response to the coronavirus pandemic, according to a press release. The digital payments platform will now be able to give loans to SMBs that apply for loans under the Small Business Association’s (SBA’s) Paycheck Protection Program (PPP).
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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
American Banker
APRIL 12, 2020
In blue states in particular, governors and attorneys general are taking up the mantle of consumer protection during the coronavirus emergency, effectively adding another layer of regulation to the patchwork of state and federal oversight.
PYMNTS
APRIL 12, 2020
Tariffs on Chinese goods are a major reason the U.S. is experiencing nationwide shortages of hand sanitizer, disinfectants and other coronavirus-fighting imports, according to a Wall Street Journal report on Sunday (April 12). Public filings indicate that over the past few weeks, medical supply firms have filed numerous requests for tariff relief. These companies have said that tariffs make for higher costs on necessary items to fight the coronavirus and lead to shortages in some cases.
The Financial Brand
APRIL 12, 2020
Here is how Covid-19 will change the way financial institutions are run and the way consumers do banking in the future. The post What Banking Will Look Like After the Pandemic appeared first on The Financial Brand.
PYMNTS
APRIL 12, 2020
Cryptocurrency scams aren’t doing so hot with the current pandemic conditions, dropping in value by 61 percent between March 13 and 31. It’s recovered a bit since that time, but the value of Ponzi schemes and investment scams, which are most of what constitute cryptocurrency scams, has been seriously deficient due to the pandemic. That could be due to the falling prices of cryptocurrency during this pandemic, leading to less money coming in from scams.
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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.
The Financial Brand
APRIL 12, 2020
The coronavirus has sharply altered consumer banking habits forcing financial institutions to rethink the future of the in-person channel. The post Bank Branches: There’s No Going Back to Pre-COVID Days appeared first on The Financial Brand.
PYMNTS
APRIL 12, 2020
The newest update to the Brookings-Financial Times Tracking Indexes for the Global Economic Recovery (TIGER) shows that, with the coronavirus pandemic, the world is now facing the most serious challenge since World War II ended. The update notes that the world is now seeing shortages in economic activity, financial markets and private sector confidence as the virus has attacked public health and economic stability.
The Paypers
APRIL 12, 2020
Customers Bank has processed loan applications totalling more than USD 200 million to help save American businesses.
PYMNTS
APRIL 12, 2020
Minneapolis Federal Reserve President Neel Kashkari doesn’t have hope that the economy will rebound quickly from the effects of the coronavirus pandemic, according to CNBC. Kashkari, echoing the concerns of others, such as Dallas Mavericks owner and entrepreneur Mark Cuban , said that while he wished there could be a “V-shaped” recovery, meaning a steep decline followed shortly thereafter by a quick rebound, that just doesn’t seem likely with the lack of a vaccine thus fa
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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.
The Paypers
APRIL 12, 2020
InstallAware has partnered with PayPro Global , an ecommerce solution provider, to streamline ecommerce operations and drive expansion.
The Financial Brand
APRIL 12, 2020
As coronavirus-driven challenges mount, banks and credit unions must start thinking of solutions that will help for months, not weeks. The post COVID-19 Response: Planning for Banking’s Next Phase appeared first on The Financial Brand.
The Paypers
APRIL 12, 2020
Mindgate Solutions , a global payments technology and transaction processing provider, has officially joined the US Faster Payments Council (FPC).
PYMNTS
APRIL 12, 2020
People with direct deposit on file with the IRS will be among the first to get coronavirus relief funds when stimulus payments start going out this week, according to numerous reports Sunday (April 12). A senior Treasury Department official told NBC News that tens of millions of people using direct deposit will see money by Wednesday (April 15). Initial payments had already started being deposited into bank accounts on Friday night (April 10), the official said.
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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.
The Paypers
APRIL 12, 2020
Payment gateway Visa has teamed up with Fold to offer a new co-branded card with spent rewards in Bitcoin.
PYMNTS
APRIL 12, 2020
A mobile app to track the coronavirus is being developed by NHSX , the technology arm of Britain’s National Health Service (NHS), in coordination with Google and Apple, according to numerous reports on Sunday (April 12). The NHS app would use Bluetooth technology to enable mobile phone users to track people who have come into contact with the coronavirus and prompt them to get tested.
PYMNTS
APRIL 12, 2020
Lobbyists are burning up the phone lines in Washington, D.C. as businesses from every sector rush to get their piece of the $2 trillion relief package, which includes $350 billion in forgivable loans. From private equity firms to venture capital, retail to hospitality, casinos, airlines and more, the coronavirus pandemic has unleashed a feeding frenzy.
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