Payments Dive
APRIL 17, 2020
As COVID-19 forced most of the nation's major banks to restrict lobby access, the reduced access along with the economic downturn have placed enormous pressure on bank call centers. Telephone banking reps are doing everything from helping customers apply for stimulus payments to working with consumers who need to extend their payments.
Chris Skinner
APRIL 17, 2020
I remember some years ago that Nikolas Sarkozy wanted to bring in a law that would force call centre operators to tell French citizens where they were located, due to the backlash over offshore call centres. I wonder what he would make of today’s world, where most French and European … The post Looking through the banking clouds appeared first on Chris Skinner's blog.
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Accenture
APRIL 17, 2020
In the first post in this series, we looked at some of the developments driving change in payments right now: new competition, new customer expectations and new technologies. Banks, in response, are looking for new ways to increase the value they deliver to customers. For many banks, this has involved moving away from traditional value-added…. The post Value-added services are coming to payments appeared first on Accenture Banking Blog.
Bank Innovation
APRIL 17, 2020
The coronavirus pandemic has forced many bankers and bank processes to pivot in unexpected ways. For TD, it has meant turning its cybersecurity centers into technology “war rooms” to handle the rapidly changing needs of customers facing a new reality.? These war rooms “are agile pods that enable us to virtually solve pressing problems,” said […].
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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
PYMNTS
APRIL 17, 2020
Amid the coronavirus pandemic, a significant number of bank branches shuttered. And where there are branches, hours are staggered. As Doug Brown, senior vice president and general manager of NCR , told Karen Webster, fundamental shifts are underway in financial services and the very way in which those services are delivered — and the shifts will be permanent.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
APRIL 17, 2020
To reportedly help it compete with Apple Pay and the Apple Card, Google is creating its own tangible and virtual debit cards. The card, along with a checking account that is related to it, will let users make a purchase through a card, the web or mobile phone and connects with a Google app, TechCrunch reported, citing images that it obtained. The tech company’s debit card will have the brand of Google along with its partnered financial institution; however, it is not known what the offering’s n
Bank Innovation
APRIL 17, 2020
Green Dot is helping consumers gain access to their stimulus payments as a part of the Coronavirus Aid, Relief and Economic Security (CARES) Act, a move that will likely prop up the company’s banking-as-a-service business. Through an existing partnership with Walmart, the Pasadena, Calif.-based Green Dot allows the retail giant’s customers to create a direct deposit account from home through Walmart’s MoneyCard, a […].
PYMNTS
APRIL 17, 2020
COVID-19 has driven consumers indoors — and online. Consumers are 30.6 percent more likely to make their purchases online in 2020 than they were in 2019, underscoring the increased reliance on digital commerce now that retail stores are closed until the pandemic recedes. Yet consumers’ increasing dependence on connected devices to shop extends beyond remote shopping.
Payments Dive
APRIL 17, 2020
Does your business have an effective business continuity plan to deal with a crisis?
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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
PYMNTS
APRIL 17, 2020
Wall Street is rallying on news that Gilead Sciences’ experimental drug remdesivir shows good results treating COVID-19 patients, but most consumers tell PYMNTS that they won’t get back to normal life without a vaccine. Almost two months into the quarantine in some locations and 34.9 percent of consumers said the broad release of a vaccine is the most important factor in making them feel comfortable to go back to work.
ATM Marketplace
APRIL 17, 2020
Key organizations representing various facets of the payments industry came together to advocate globally for cash and its importance in economies worldwide. The group released a joint statement in hopes to educate and inform others on the safety of cash.
PYMNTS
APRIL 17, 2020
The pandemic is reshaping all facets of physical life. As we space six feet apart in pretty much every physical setting – walking in the park, waiting for groceries, nimbly avoiding one another in big-box retail aisles – it’s safe to say that we’ll get used to social distancing as the norm for quite a while. Against that backdrop, said Matt Redwood, global head of self-service solutions at Diebold Nixdorf , in a conversation with PYMNTS’ Karen Webster, the stage is set for self-service retail to
Payments Source
APRIL 17, 2020
Contactless technology provider Mobeewave is launching tap-to-phone features that remove current contactless payment limits for merchants and consumers globally.
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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.
PYMNTS
APRIL 17, 2020
The ripple effects from the COVID-19 crisis continue to spread throughout the business world, with the advertising industry now feeling its destructive effects. Those were quantified yesterday in a new Internet Advertising Bureau survey that shows a steep decline expected in ad spending across digital media. The IAB surveyed more than 200 U.S. media properties programmatic providers and media platforms.
Payments Source
APRIL 17, 2020
Just as U.S. lawmakers are ramping up demand for a digital dollar, Facebook's Libra project is dialing back its scope.
PYMNTS
APRIL 17, 2020
The drive-thru, which captured 70 percent of quick service restaurants’ (QSRs’) total sales in 2018, has become a critical focal point as dine-in seating areas are closed to slow the spread of the coronavirus. To seize the opportunity to boost revenues and loyalty during this time, QSR operators are shifting their focus to digitally upgrading the drive-thru as well as other modes of off-premise ordering, such as branded mobile apps and third-party delivery aggregators.
Payments Source
APRIL 17, 2020
The U.S. Treasury Department is in talks with some airlines about accepting their loyalty programs as collateral against government loans to help them weather the coronavirus crisis.
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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.
PYMNTS
APRIL 17, 2020
To enhance the effectiveness of the Paycheck Protection Program (PPP) of the Small Business Administration (SBA), the Federal Reserve Board announced a rule change. The modification will temporarily change the rules of the Board so “certain bank directors and shareholders can apply for PPP loans for their small businesses” per a press release from The Fed.
ATM Marketplace
APRIL 17, 2020
As COVID-19 forced most of the nation's major banks to restrict lobby access, the reduced access along with the economic downturn have placed enormous pressure on bank call centers. Telephone banking reps are doing everything from helping customers apply for stimulus payments to working with consumers who need to extend their payments.
PYMNTS
APRIL 17, 2020
As the COVID-19 crisis is now stretching toward the two-month mark, the size of its impact to the economy is becoming more well-defined and worrisome. Unemployment figures continue to soar and businesses big and small are developing increasingly dark outlooks on their prospects for bouncing back. It is fair to say that the U.S. is in the thick of the crisis and still in the early days of attempting to gain back ground lost to the black swan event that shut down the world.
American Banker
APRIL 17, 2020
Large institutions say their strong capital positions allow them to reward investors, and the Fed agrees. But critics say this is the time to be preparing for a sharp downturn and continue helping those hurt by the coronavirus pandemic.
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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.
PYMNTS
APRIL 17, 2020
British regulators have given the initial green light for Amazon’s investment in Deliveroo , the London online food delivery company that said it could go bankrupt without an infusion of cash due to COVID-19. On Friday (April 17), the Competition and Markets Authority (CMA), the U.K. agency responsible for protecting competition, approved the deal, which will require more study.
American Banker
APRIL 17, 2020
The head of the Senate panel overseeing Federal Reserve and Treasury Department efforts to boost the U.S. economy urged the agencies to remember their disclosure requirements.
PYMNTS
APRIL 17, 2020
As of today, consumers nationwide are facing levels of uncertainty that have no historical parallels. The physical economy is, for all intents and purposes, shut-down. Unemployment filings have set records and consumers are deeply concerned about their futures. There is no shortage of things to be genuinely anxious about out there. And in this unusual time, CO-OP Financial Services Chief Product Officer Bruce Dragt said there are two opposing forces pushing on consumers — things that are injecti
American Banker
APRIL 17, 2020
Partisan differences get in the way of new aid program for small businesses as SBA program runs out of money; loan servicers want a bailout as defaults are expected.
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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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