Wed.Aug 12, 2020

Relating Fair Value and CECL: Misconceptions, Challenges, and Solutions

Abrigo

Key Takeaways The coronavirus pandemic has upended financial institutions' long-term business strategies, but now FIs have an opportunity to consider how consolidation can create greater efficiencies and better results – especially in the area of CECL and valuation calculations.

What Uber And Lyft’s Court Loss Means For The Gig Economy’s Future

PYMNTS

A California judge this week ordered Uber and Lyft to stop classifying their workers as independent contractors and start classifying them as employees, an order the two firms have 10 days to comply with barring further legal action. Both firms have already requested stays while they file appeals, but the ruling could have big potential consequences for the gig economy.

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Relating Fair Value and CECL: Misconceptions, Challenges, and Solutions

Abrigo

Key Takeaways The coronavirus pandemic has upended financial institutions' long-term business strategies, but now FIs have an opportunity to consider how consolidation can create greater efficiencies and better results – especially in the area of CECL and valuation calculations. FIs must confront misconceptions about relating fair value and CECL, such as the belief that discount rates are the same for fair value and CECL.

UK banks can still build trust and revenues with SMEs post-COVID

Accenture

Small to medium-sized enterprises with up to 250 employees—SMEs—are the bedrock of economies worldwide. In the UK alone there are six million of them, collectively employing 17 million people. Until recently they were also a very dynamic segment, achieving strong growth over the past couple of years. But, as we all know, COVID-19 has changed…. The post UK banks can still build trust and revenues with SMEs post-COVID appeared first on Accenture Banking Blog.

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Intelligent Process Automation: Boosting Bots with AI and Machine Learning

Across all sectors, companies are learning that they can transform their businesses by embracing Intelligent Process Automation, or IPA. With the pairing of AI and RPA, IPA adds a new layer of intelligent decision-making processes to automated RPA tasks. By automating repetitive work, and adding the ability to automate intelligent decision making, intelligent automation frees up your most valuable resources – your employees – to spend more time on higher value and more strategic work. But in order to reap the rewards of Intelligent Process Automation, organizations must first educate themselves and prepare for the adoption of IPA. In our ebook, Intelligent Process Automation: Boosting Bots with AI and Machine Learning.

Relating Fair Value and CECL: Misconceptions, Challenges, and Solutions

Abrigo

Key Takeaways The coronavirus pandemic has upended financial institutions' long-term business strategies, but now FIs have an opportunity to consider how consolidation can create greater efficiencies and better results – especially in the area of CECL and valuation calculations. FIs must confront misconceptions about relating fair value and CECL, such as the belief that discount rates are the same for fair value and CECL.

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What Mastercard's crypto plans signal for the future of digital payments

Payments Source

Major payment companies have long looked on at cryptocurrencies as too risky to touch, but too tempting to ignore. Mastercard's latest move signals that the card brands are ready to make a firm pitch for crypto spending. Blockchain Digital payments Network rules Mastercard Cryptocurrencies

How The Pandemic Is Making Robust Address Verification Critical For eCommerce Platforms

PYMNTS

The eCommerce industry is trying to find balance as more consumers purchase via digital channels while overall customer spending is dipping during the pandemic. This means marketplaces cannot afford to simply ride the digital engagement wave — they must actively entice spend-wary consumers to buy from their platforms instead of competitors’.

COVID-19 has upended fraud detection

Payments Source

The rapid move online boosts false positives, false negatives and actual fraud, says Adara's Nguyen Nguyen. Risk Payment fraud Digital payments Coronavirus E-Commerce

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Square Cash Tests Small-Dollar, Short-Term Loans

PYMNTS

Cash App, Square Inc.’s s mobile payment app, has launched a pilot program to offer short-term loans of up to $200, TechCrunch reported. “We We are always testing new features in Cash App, and recently began testing the ability to borrow money with about 1,000 customers,” a CashApp spokesperson said in a statement. “We We look forward to hearing their feedback and learning from this experiment.” ” Under the terms of the loans, which start at $20, payment is due within four weeks.

The Best Sales Forecasting Models for Weathering Your Goals

Every sales forecasting model has a different strength and predictability method. It’s recommended to test out which one is best for your team. This way, you’ll be able to further enhance – and optimize – your newly-developed pipeline. Your future sales forecast? Sunny skies (and success) are just ahead!

Gas EMV can't be just about chip cards

Payments Source

The complexity of the migration is an opportunity to examine other elements of the payment experience, says TNS' Brian DuCharme. Risk Payment fraud Digital payments Merchant EMV Cards

Cards 87

Ascendant Joins Up With SWIFT Network For Cross-Border Benefits

PYMNTS

AscendantFX Capital , which works in technology-based payment innovations, has joined the SWIFT Network for the benefits it offers, including better transparency and faster payments, the company announced in a Wednesday (Aug. 12) press release. By using the SWIFT Global Payment Initiative (gpi), the company hopes to access better API capabilities and improve its own aPay platform. Using gpi means payments can go through in a matter of seconds, potentially, with better tracking potential.

Nacha's Phixius platform test adds Visa as partner

Payments Source

ACH network steward Nacha says Visa has been added to its list of partners for a payment information exchange it is creating to help credentialed service providers share and manage electronic payments information for faster and more secure processing. NACHA ACH Visa APIs

NEW REPORT: Turning The Page On Digital Media Platforms’ Legacy AP Practices

PYMNTS

Businesses are seriously examining how to retool their accounts payable (AP) strategies as they work to better endure a shifting economic landscape. Thirty-eight percent of companies have already reported adopting AP automations this year — a leap from the 24 percent who did so in 2019 — and organizations may be finding that moving to cloud-based, remote work-friendly setups is an upgrade that cannot wait.

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How Banks Are Winning with AI and Automated Machine Learning

Banks have always relied on predictions to make their decisions. Estimating the risks or rewards of making a particular loan, for example, has traditionally fallen under the purview of bankers with deep knowledge of the industry and extensive expertise. But times are changing. Today, banks realize that data science can significantly speed up these decisions with accurate and targeted predictive analytics. By leveraging the power of automated machine learning, banks have the potential to make data-driven decisions for products, services, and operations. Read the white paper, How Banks Are Winning with AI and Automated Machine Learning, to find out more about how banks are tackling their biggest data science challenges.

Spike in disputed payments causing headaches for card industry

Payments Source

Chargeback requests have surged since the start of the coronavirus pandemic, as airlines have canceled flights, performers have postponed concerts and supply chain disruptions have delayed the delivery of many goods. Fraud Chargebacks Coronavirus Mastercard Visa Credit cards

Why The Modern Disbursements Experience Must Be Instant … And Multichannel

PYMNTS

There’s a growing awareness among businesses that when it comes to disbursements, we’re moving into an era where consumer choice is king. In much the same way that customers have a slew of options these days when it comes to paying a bill, they also expect to have a choice of alternatives when it comes to getting paid.

Stripe hires high-profile execs, but insists it’s not planning an IPO

Payments Source

Stripe is expanding its digital payment technology into new industries, and is also welcoming a series of notable executives with backgrounds that are mostly outside merchant technology. But they also have experience with much larger companies, a necessary skill as Stripe tries to grow out of its status as fintech upstart. Fintech Digital payments IPOs Payment processing Stripe

DraftKings: Why Sportsbook Is The Ticket To The Everywhere Fan Experience

PYMNTS

People love their sports teams, and much of that feeling is carried fan-to-fan in packed stadiums where the electricity of competition and comradery meet overpriced hot dogs and beer for an incomparable in-person shared human experience. COVID has sidelined stadium sports for now, and like an injured player, the sector is down but far from out. Gaming tech, virtual fans with virtual reality (VR) headsets for point-of-view (POV) viewing are all getting tryouts.

B2B Pocket Playbook: End-to-End Guide to Sales Enablement

Sales enablement is the strategic process of providing sales teams with the content, guidance, and mentorship needed to engage targeted buyers. It’s all about equipping sales professionals with the tools they need to put their best-selling foot forward. And if sales teams want to continuously sell better -- and faster -- their sales enablement process must have a game-winning strategy. It's time for you to start selling smarter - and hitting your sales number - with the best B2B database in the market. Get started today.

Global financial cycles since 1880

BankUnderground

Galina Potjagailo and Maik H. Wolters. Global financial cycles: a long-term affair. Today’s financial system is global: credit and several financial asset classes show booms and busts across countries, sometimes with severe repercussions to the global economy. Yet it is debated to what extent common dynamics rather than domestic cycles lie behind financial fluctuations and whether the impact of global drivers is growing.

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Small Business Banking Targeted In Open Banking Initiatives

PYMNTS

Small businesses have landed at the center of B2B FinTechs’ and financial service providers’ latest collaborative efforts. In this week’s roundup of open banking initiatives and bank-FinTech tie-ups, PYMNTS finds a renewed push to strengthen SMB banking experiences including financing, account management and more. Agora Services To White-Label Technology.

Interesting view – watching the river of insurance news and much floats by…

Daily Fintech

News comes in torrents in the digital environment, even the traditional masthead periodicals are issuing multiple digital headline bulletins each day. Same goes for insurance periodicals, blogs, and newsletters. So, I sit by the digital rapids, trying to catch a few drops from the current. This week’s article is a sample of the tastes I […]. The post Interesting view – watching the river of insurance news and much floats by… appeared first on Daily Fintech.

In Germany, Cold Hard Cash Still the Way to Pay

PYMNTS

Amid the great digital shift, there are still pockets of commerce — and even entire countries — where cash is king. As detailed by NPR, though at least some verticals, such as grocery stores, accept card transactions (and thus see at some volume of contactless payments), a significant number of smaller businesses rely on cash to keep revenues coming in.

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How Banks Are Winning with AI and Automated Machine Learning

Banks have always relied on predictions to make their decisions. Estimating the risks or rewards of making a particular loan, for example, has traditionally fallen under the purview of bankers with deep knowledge of the industry and extensive expertise. But times are changing. Today, banks realize that data science can significantly speed up these decisions with accurate and targeted predictive analytics. By leveraging the power of automated machine learning, banks have the potential to make data-driven decisions for products, services, and operations. Read the white paper, How Banks Are Winning with AI and Automated Machine Learning, to find out more about how banks are tackling their biggest data science challenges.

European banks urged to stop funding oil trade in Amazon

TheGuardian

Indigenous people in headwaters region say financing harms communities and ecosystems Indigenous people living at the headwaters of the Amazon have called on European banks to stop financing oil development in the region, as it poses a threat to them and damages a fragile ecosystem, after a new report found $10bn in previously undisclosed funding for oil in the region.

How COVID-19 Is Redefining Luxury Spending

PYMNTS

Face masks have become a part of most people’s day-to-day lives as the physical world reopens with some restrictions amid COVID-19. The fact that the masks rapidly became the fashion-statement accessory of summer 2020 should surprise absolutely no one. Over the years, many things have been described as “must-haves,” but the face mask is possibly the only one that can claim that distinction literally. But face masks as status symbols?

Maintain A Good Credit Score To Be Financially Independent

BankBazaar

Did you know that having a good Credit Score paves the way to your financial freedom? This freedom month, aim to get your Credit Score on track and enjoy financial freedom like never before. What Is A Credit Score? Credit Score is a 3-digit number that describes your financial credibility. It is basically the summary of your so-called “financial habits”. The score generally ranges between 300 – 900 points. The higher the score, the better the credit history.

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Bespoke Post’s Twist On Subscription Commerce Success

PYMNTS

Every subscription retail service — or any retail company for that matter — needs a supply chain. As seen last week in the earnings announcement for The RealReal , even if that supply chain comes from everyday consumers contributing consigned goods, it is an essential part of the equation. If it dries up or hits big obstacles, the whole operation can be thrown off. It is a lesson the executives at Bespoke Post have learned well and incorporated into their business model.

Pressure Points: How to Ensure Your B2B Pipeline Passes Inspection

This eBook highlights best practices for developing a pipeline management process that helps sales leaders and their team C.L.O.S.E (you’ll see what we mean in this eBook) more revenue through data-driven prospecting, stage analysis, and subsequent sales enablement.