Payments Dive
MARCH 13, 2020
The coronavirus pandemic has raised a number of concerns about whether consumers would shift towards digital payments amid concerns about cash handling and interacting with large crowds in banks and retail centers.
Chris Skinner
MARCH 13, 2020
On Sunday, Mark Carney leaves the Bank of England after almost seven years at the helm. There’s an interesting review of Mark Carney’s tenure as Governor of the Bank of England on Bloomberg. Joining the Bank back in 2013, before the Scottish referendum and Brexit vote, it charts his seven … The post Mark Carney: Central Banker and Climate Activist appeared first on Chris Skinner's blog.
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Bank Innovation
MARCH 13, 2020
As the novel coronavirus continues to spread, rattling the economy, banks are reevaluating their business propositions to clients.? WaFd, formerly Washington Federal Bank, is offering interest-free lines of credit of up to $200,000 to small businesses as a result of the pandemic. The Seattle-based bank said the small business loans are meant to help struggling […].
PYMNTS
MARCH 13, 2020
After it was forced to shutter its retail locations in China because of the spread of COVID-19, Apple Inc. has reportedly put all of them back into operation. The closures were one of the main reasons the tech company cited for removing its March quarter sales outlook, Bloomberg reported. Apple has been slowly reopening the locations, with 38 of the 42 shops open for business as of last week.
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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
Bank Innovation
MARCH 13, 2020
Welcome to the latest episode of our Weekly Wrap series, for the week ending Friday, March 13, 2020. In this episode, editors discuss the following news developments: How the stock market plummet is affecting robo-advisors; Wirecard expanding internationally through a partnership with the Estonian banking platform Xolo; and Amazon’s move to offer cashierless checkout to […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bobsguide
MARCH 13, 2020
Incumbent banks may struggle to adapt to the impact of coronavirus as remote working and customer services falter. Commentators say these challenges could leave digital challengers with the advantage. “Do the existing banks, the traditional banks, struggle to allow their staff to work.
PYMNTS
MARCH 13, 2020
The toll of the coronavirus on businesses has hit everything from tourism to large gatherings like concerts and conventions. With those goes the value of Airbnb , which saw its bookings fall by 40 percent, according to published reports Thursday (March 12). According to independent data from analytics group Airdna, the drop was largest in China (previously the fastest-growing market for the rental platform) and parts of Europe where the virus has hit the hardest.
Bobsguide
MARCH 13, 2020
While explaining the business application of real-time, Harshit Jain, Head of Transaction Banking & Digitisation at Nucleus Software, said that: "Consumers and business customers are becoming more impatient and more demanding. They want what they want when they want it. And if they.
PYMNTS
MARCH 13, 2020
The era of “challenger” banks has seen many grand promises in terms of innovating on the old banking model to provide consumers with something more modern, responsive and customized. But when it comes to actually measuring results against the hype, the fact is that reality often falls a bit short. The digital banking customer might get a few nice bells and whistles — a faster onboarding process or a slick digital app attached to a prepaid card that’s nearly functionally identical to a debit che
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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
FICO
MARCH 13, 2020
As the number of coronavirus cases increases, it is also having a negative impact on the financial health of the economy at large and the economic well-being of individuals across the United States. The unusual nature of this pandemic has resulted in the temporary closing of schools, cancellation of events and disruption of the distribution of goods and services that may have the unintended consequence of impacting some people’s ability to pay bills on time. .
PYMNTS
MARCH 13, 2020
While paper checks are increasingly passing into the realm of consumers’ memory, there are certain niches where they have managed to hold on, even as the rest of the world tries rather adamantly to move on. It is not so much affection keeping checks around in government disbursements as much as it is inertia, as Kathryn Cleary, Mastercard ’s senior vice president of business development for North America, told PYMNTS in a recent conversation.
ATM Marketplace
MARCH 13, 2020
Payment Alliance International has created suite of tools that allow users to automatically manage key ATM functions, including, remote management services, from anywhere in the world by using a mobile device.
PYMNTS
MARCH 13, 2020
The notion that brick-and-mortar is going the way of the dinosaur as the popularity of eCommerce grows has proven to be just the opposite according to recent research. Brick-and-mortar is instead rapidly changing to accommodate the needs of consumers who have come to expect the same speed and convenience from purchasing through online and mobile environments.
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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.
BankBazaar
MARCH 13, 2020
The seriousness of COVID-19 can no longer be ignored. With COVID-19 positive case count and deaths increasing by the day, it is important to know if your Life Insurance policy will cover deaths arising out of COVID-19. With the WHO declaring COVID-19 a pandemic, a lot of insurance providers may not cover hospitalisation or treatments in case of an infection if they have a clause of not covering epidemics/pandemics.
PYMNTS
MARCH 13, 2020
Grubhub, along with the leaders of major cities, has launched a relief effort for independent restaurants that are adversely affected by the coronavirus , according to a release from the company. Mayors from New York City, Chicago, Boston and Portland are participating in a program where Grubhub will suspend the collection of up to $100 million in commission payments from restaurants across the country.
Banking Exchange
MARCH 13, 2020
Not only are mobile payments more efficient, a cashless society can be healthier The Economy Technology Risk Management Tech Management Mobile Online Security Cyberfraud/ID Theft Consumer Compliance Feature3 Fintech Feature Payments.
PYMNTS
MARCH 13, 2020
Trade finance is a critical tool in supporting global trade for both buyers and sellers, particularly smaller businesses. Yet these financing products aren’t without their risks and drawbacks, and today, criticism continues to mount for certain invoice financing tactics in particular. High-profile corporate collapses and questionable invoice discounting programs run by major conglomerates has led financial officials in the U.K., U.S. , Australia and beyond to take a closer look at products like
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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.
SWBC's LenderHub
MARCH 13, 2020
A little nonsense now and then is relished by the wisest men. – Willy Wonka. As our leaders in Washington DC bicker over a fiscal response to COVID-19, mostly coming up with ideas that look to win votes (payroll tax holidays, guaranteed sick leave for everyone, tax credits for affected companies) as opposed to actually saving the economy from a credit induced depression, it looks like it is on the Fed again to do the job.
PYMNTS
MARCH 13, 2020
Say goodbye to your passwords … if you can remember them. As verifiable digital identity gradually becomes the next-gen driver’s license and passport, companies and individuals are bidding farewell to login credentials they either can’t recall or that have already been hacked. In the March 2020 Digital Identity Tracker® done in collaboration with Jumio , new developments in biometrics and identity-as-a-service (IaaS) are making good on the no-password future we’ve been hearing about since the da
CFPB Monitor
MARCH 13, 2020
The U.S. Court of Appeals for the Ninth Circuit ruled in McAdory v M.N.S. Associates, LLC and DNF Associates, LLC , in a 2-1 decision, that companies that engage third parties to collect consumer debts they acquired when the debts were in default, known as “passive debt buyers,” qualify as “debt collectors” subject to the Fair Debt Collection Practices Act (FDCPA).
PYMNTS
MARCH 13, 2020
Princess Cruises disclosed a potential data breach in a notice posted on its website. The travel company said that from April 11 to July 23 of last year a third party attained “unauthorized access” to select staff email accounts that had personal information regarding its staff, customers and crew. The company said it “identified suspicious activity” on its network in May of last year.
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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.
American Banker
MARCH 13, 2020
The OCC and FDIC said banks should consider waiving fees, be flexible with loan repayments and that they would not be penalized if they close branches for precautionary reasons.
PYMNTS
MARCH 13, 2020
Despite a recent bounce, bitcoin dropped to below $4,000 early on Friday (March 13), according to a report by CoinDesk. It reached $3,867, which was the lowest level seen since March 25 of last year. It has since recovered from that low. Bitcoin is down over $2,000 from a high of around $8,000 early on Thursday (March 12). The cryptocurrency now has a 27 percent loss YTD, even though it gained 46 percent last month and was trading at $10,500.
American Banker
MARCH 13, 2020
The U.S. challenger bank and the startup STC Pay aim to create a special blend of banking services for millions of tech-savvy, cash-averse consumers in Saudi Arabia.
PYMNTS
MARCH 13, 2020
Tax season frustrations can blossom into real financial problems, especially when refunds are paper checks sent through postal mail. Younger consumers are often unenthused about the lengthy wait times attached to their personal or professional tax refunds, and as millennials increasingly operate small- to medium-sized businesses (SMBs) with small teams or work as one-person companies, the status quo tends to be even less forgiving, as such individuals may rely on these funds for proper cash flow
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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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