Sun.Mar 29, 2020

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Doing Digital: Presentation, Slides, Video, Transcript [FREE]

Chris Skinner

I don’t know how you guys are holding up, but I’m finding myself on lots of videoconferences, even delivering a keynote in Tokyo the other day from my home office in Poland. The event was recorded and so I thought I’d share the video and transcript with you. This, btw, … The post Doing Digital: Presentation, Slides, Video, Transcript [FREE] appeared first on Chris Skinner's blog.

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Egypt Limits Bank Withdrawals, Deposits To Curb Inflation, Hoarding

PYMNTS

In Egypt, banks have been told to impose a limit on cash withdrawals and deposits in a move to hopefully stop hoarding and inflation. The new limit will be 10,000 Egyptian pounds ($635) and 50,000 pounds for companies per day. There will be exceptions for those using the money to pay employees, according to a central bank statement. There will also be a limit of 5,000 pounds on ATM withdrawals and deposits, the statement said.

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Things worth reading: 30th March 2020

Chris Skinner

Things we’re reading today include … Jeff Bezos sold $3.4bn of Amazon stock just before Covid-19 collapse Dozens of poorer nations seek IMF help amid coronavirus crisis ECB tells euro zone banks to skip payouts as virus hits economy ‘Hell is coming’: how Bill Ackman’s TV interview tanked the markets … The post Things worth reading: 30th March 2020 appeared first on Chris Skinner's blog.

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Venmo, Square Cash Vie For Stimulus Funds Distribution

PYMNTS

Venmo and Cash App want to be considered as ways the U.S. government could deliver its stimulus funds to help the coronavirus-wrecked economy. The popular apps have seen widespread use in recent years, though the government thus far has not adopted either one for any official means. The parent companies of both apps have discussed this possibility with the Treasury Department, though it is unclear if the proposition has been seriously considered.

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Digital Transformation: Accelerating ROI and Growth in Commercial Lending

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

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Fraudsters exploit coronavirus fears as spending habits shift

Payments Source

Card fraud risks — already soaring prior to the coronavirus outbreak — are changing rapidly as the pandemic deepens, forcing issuers and merchants to rethink protective measures.

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8 Tips for Avoiding COVID-19 Scams

FICO

In the past weeks, all of our lives have experienced significant disruption. We are balancing caring for the health of loved ones, learning to home-school children, all while continuing to work. Not to mention losing social outlets and drastic economic changes – we really don’t need more life hurdles. So it’s with the top focus of safety and health in mind that I implore you to: Stay vigilant about fraud.

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Consumers’ Sentiment Slumps, eCommerce Fills Only Part Of ‘Retail Gap’

PYMNTS

Call it the retail gap that eCommerce can only partly fill. Earlier this month, a record number of Americans — 3.3 million — filed for unemployment benefits. Consumer sentiment, as reported last week, dipped to a three-and-a half-year nadir, brought down by lingering fears over COVID-19, the disease caused by the coronavirus , and the increasingly “new normal” of social distancing.

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Asset Management Faces Hard Realities in Facing True Innovation

Banking Exchange

Asset managers have increasingly seen their profit base come under attack. This is a sure signal that something fundamental has to change. Bank Performance The Economy Financial Research Feature Management Financial Trends Lines of Business Risk Management Feature3.

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COVID-19 Triggers Need For Cash As Lenders Tighten Reins

PYMNTS

As a potential recession lurks, FinTechs, traditional banks and other financial institutions (FIs) are tightening the reins on loans to small businesses and households with shaky credit, The Wall Street Journal reported Saturday (March 28). Access to credit is being tightened as the coronavirus forces mass shutdowns nationwide and around the world. Tens of thousands of households are in dire financial straits, sending more people turning to unsecured personal loans and credit cards for a quick b

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The State of Automation in Financial Services 2024 Report

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

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New tech can mitigate coronavirus chargebacks

Payments Source

Address verification, geolocation and 3-D secure can all play a role, according to Chargebacks 911 and Global Risk Technologies' Monica Eaton-Cardone.

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GrainChain Accelerates Farmer Payments With Blockchain

PYMNTS

GrainChain , the farming blockchain system for agriculture and farming business, has moved to the Symbiont network, Assembly, a change which the company anticipates will help expand its business, according to a press release. GrainChain currently works in Texas, Honduras and Mexico, and said it has the opportunity to go into other countries with agricultural and farming needs.

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Is mortgage industry equipped to implement Washington's forbearance plan?

American Banker

Homeowners reeling from coronavirus-induced economic shock are already enduring extremely long wait times while trying to get relief. Legislation passed last week could worsen the logjams.

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Amazon Wants Employees To Transfer To Grocery Work Due To Demand Increase

PYMNTS

Amazon is looking to transfer employees to its grocery bagging division as the need for grocery delivery has risen sharply due to the coronavirus , according to a report by Reuters. So, the company’s warehouse employees will have the option to transfer to Whole Foods’ grocery team, also owned by Amazon. If they do so, they’ll make more money, the company said — about $19 an hour.

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Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance

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.

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Thailandese bank to use Ripple rails for new instant payments app

The Paypers

Thailand’s Siam Commercial Bank (SCB) has been building a new app that uses Ripple’s payments technology to allow tourists to pay for goods and services without needing to convert currencies.

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Bitcoin Daily: WHO Debuts MiPasa Blockchain To Share Covid-19 Data; Coinbase’s Retail Payments Portal Passes $200M Transactions Processed

PYMNTS

The World Health Organization ( WHO ) is working with blockchain and other tech companies on a program to help convey data about the ongoing COVID-19 pandemic, which it is calling MiPasa. The program is a distributed ledger technology (DLT) that will hopefully help with early detection of the virus and identifying carriers and hotspots. MiPasa is built on top of Hyperledger Fabric in partnership with IBM , computer firm Oracle , enterprise blockchain platform HACERA and IT corporation Microsoft.

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Sony Bank rolls out 'English online banking' in Japan

The Paypers

Sony Bank has launched a new English-language online banking service, aiming to provide foreign residents in Japan a way to open a bank account and conduct everyday banking in English.

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Steve Mnuchin: Stimulus Money Should Hit Within 3 Weeks

PYMNTS

As the coronavirus spreads throughout the United States, Treasury Secretary Steve Mnuchin told “ Face the Nation ” Sunday (March 29) that Americans should be receiving $1,200 stimulus money within the next three weeks. The way it will work, Mnuchin said, is the government will distribute the money electronically, in a direct deposit , to the bank accounts which the government has on file.

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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

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.

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Reimagining Banking During and After COVID-19

The Financial Brand

If the financial impact of coronavirus is significant, will the banking industry remain as committed to digital transformation as it was pre-COVID-19? The post Reimagining Banking During and After COVID-19 appeared first on The Financial Brand.

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Singapore crypto exchange registers with FinCEN to expand to US

The Paypers

Bitget , a Singapore-based crypto derivatives platform, had registered with the US Treasury Department’s Financial Crimes Enforcement Network (FinCEN) as a money services business.

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Umpqua’s Human+Digital Platform a Perfect Fit for COVID Challenges

The Financial Brand

With branch access limited and customer questions swelling, mobile chat with the bank's personal bankers has jumped sharply. The post Umpqua’s Human+Digital Platform a Perfect Fit for COVID Challenges appeared first on The Financial Brand.

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Egyptian banks instructed to temporary limit withdrawals and deposits

The Paypers

Egyptian banks have been instructed to apply temporary limits on daily withdrawals and deposits.

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Top 10 Benefits of Automating Loan Modifications for Commercial Lenders

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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What the $2 Trillion COVID-19 Relief Law Means for Banking

The Financial Brand

Third and biggest federal aid package — so far — provides ease for consumer, business and mortgage borrowers & help to banks & credit unions. The post What the $2 Trillion COVID-19 Relief Law Means for Banking appeared first on The Financial Brand.

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The Finanser’s Week: 23rd March 2020 – 29th March 2020

Chris Skinner

The main blog headlines are … WFH? WTF? NSFW and other essentials for the home office I saw a few people talking about the challenges of working from home over the last few days, particularly if you work for a bank. As a tech guy, I’ve been used to working … The post The Finanser’s Week: 23rd March 2020 – 29th March 2020 appeared first on Chris Skinner's blog.

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Every Banking Brand Has a Story, But Marketers Must Tell Them Better

The Financial Brand

Storyteller Matt Luhn learned his craft at Pixar but also created leading-edge commercials. He has lessons for banks and credit unions. The post Every Banking Brand Has a Story, But Marketers Must Tell Them Better appeared first on The Financial Brand.

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Satellite Internet Startup OneWeb Closes After SoftBank Fund Raise Fails

PYMNTS

OneWeb , which wanted to make internet access worldwide and widespread, has filed for bankruptcy and let most of its employees go after it couldn’t get any more funding, according to a press release. The lack of funding includes any new investment from its biggest backer, SoftBank , the Financial Times (FT) reported. CEO Adrian Steckel blamed the turmoil on COVID-19, the disease caused by the coronavirus.

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2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

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.