Sat.May 16, 2020

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Visa Seeks Patent On System To Turn Government Currencies Into Digital Blockchain Versions

PYMNTS

Credit card giant Visa has filed an application for a U.S. patent on a computer system that would convert physical dollars and other fiat currencies into digital versions, complete with denominations and serial numbers and recorded via blockchain. The system would then remove the paper currency from circulation. “According to the [details] discussed herein, the payment ecosystem may become entirely (e.g. 100 percent) digital,” Visa wrote in its application, which was originally filed with the

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Cash could be the latest victim of coronavirus – and may never recover | Patrick Collinson

TheGuardian

More people are turning to online banking and contactless payments amid pandemic concerns Coronavirus – latest updates See all our coronavirus coverage I withdrew £200 from an ATM in mid-March – and I still have £160 left collecting dust in my wallet. Even one of the last reasons to keep a stock of coins in my car has gone, because the local supermarket has unchained the trolleys that previously needed a £1 coin.

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Bankers Suggest M&A of Banks and NBFIs to Face post-Covid Challenges

FluentBanking

A leading banker Saturday suggested large-scale merger and acquisition (M&A) of banks and financial institutions of the country to cope with COVID-19 pandemic challenges. Another banker while participating in a virtual workshop, organised by the Bangladesh Institute of Bank Management (BIBM), saw risks in implementing the government-announced financial relief packages by banks.

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SBA, Treasury release more guidance on PPP loan forgiveness

American Banker

The agencies produced an application process that includes favorable interpretation of qualifying expenses.

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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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Pool Noodles, Mannequins And The Wilder Side Of Social Distancing For Restaurants

PYMNTS

If we’re being truly honest with ourselves, the new rules that will surround restaurants’ dining rooms in the near future don’t sound like much fun. From the temperature scans at the front door for both patrons and staff, to the socially distanced seating that will require spaces be half to two-thirds empty, to the masks that staff will have to wear all the time and the diners will have to wear whenever they aren’t actively eating or drinking – there is no amount of seasoning that could ma

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How to Invest in the Dow Jones Industrial Average

MyBankTracker

When people talk about the stock market, they often reference the Dow Jones Industrial Average (DJIA). While it’s a popular term used by investors, you may not realize why it’s important and how it can help shape your own investment strategy. The DJIA is an index made up of 30 of the biggest and most well-known companies in the country. Morningstar reported that it has a total return of 8.35% over the past ten years.