Sun.Jun 21, 2020

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An economic catastrophe and an apology

Chris Skinner

I got hauled up the other day by someone who thought I was very insensitive in blogging about this crisis as an economic one, but not a catastrophic one. What I actually wrote was (I’ve amended it slightly since): Someone wrote the other day that this pandemic is like a world … The post An economic catastrophe and an apology appeared first on Chris Skinner's blog.

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HSBC Hong Kong Announces New API For Instant B2B Payments

PYMNTS

HSBC Hong Kong ‘s new application programming interface (API) will simplify the payment system for businesses down to a one-stop payment hub, a press release says. The service will let businesses incorporate the instant electronic Direct Debit Authorisation (eDDA) into their own systems, along with real-time funds transfer services. That will allow businesses to eliminate the cumbersome old ways, which required them to sign onto their bank accounts to set up a direct debit instruction and

Payments 359
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Things worth reading: 22nd June 2020

Chris Skinner

Things we’re reading today … … are all about Wirecard … Wirecard versus The Financial Times: a FinTech poster child on trial Wirecard’s Missing Billions Forces Out CEO, Panics Lenders Why was Frankfurt so blind for so long about Wirecard? … and a few other things … ‘Having my identity … The post Things worth reading: 22nd June 2020 appeared first on Chris Skinner's blog.

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Chesapeake Bank Joins The Clearing House’s RTP Network

PYMNTS

Virginia’s Chesapeake Bank has joined The Clearing House’s Real-Time Payments (RTP) network, showing that smaller community banks have joined the new trend of enabling instantaneous payments and receipts for customers, a press release said. The move will also allow the bank to access advanced messaging capabilities. DJ Seeterlin , chief information officer at Chesapeake Bank, said the new partnership would be a boon for customers looking for “new functionality” in their banking.

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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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Father’s Day Special: A Poem By CEO Adhil Shetty

BankBazaar

Our CEO Adhil Shetty, penned a heartfelt poem for his daughter to mark her second birthday which co-incidentally also happened to be Father’s Day. . Dear baby girl. You have made. A great mother of your mom. A passable father of me. Pulled our strings to wits end. midnight dazed wake ups. never ending un-eaten meals. Arguments over leaked nappys.

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Musicians And Money – How To Stay In Perfect Financial Harmony

BankBazaar

Musicians may seem like they have it all, but the harsh reality is most of them struggle with money management. If you are an aspiring musician, here are a few tips to keep you in perfect financial harmony. . Musicians are certainly some of the most driven people on the planet. They take more creative risks and lay more on the line just so they can follow their dreams, no matter how ludicrous and outlandish they may be.

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Philippines Central Bank Says Wirecard Deposits Never Made

PYMNTS

The Philippines central bank cast doubt on Wirecard AG ’s assertion that the Munich, Germany payment processor deposited 1.9 billion euros ($2.1 billion) into two banks in the island nation. Despite Wirecard’s claim to have directed the cash to BDO Unibank Inc. and the Bank of the Philippine Islands, the Bangko Sentral ng Pilipinas said Sunday (June 21) the money never entered the country, Reuters reported.

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Inside Chargebacks911's quest to simplify the language of payment disputes

Payments Source

The Biblical narrative of the Tower of Babel was meant to explain why people throughout the world speak different languages, but in the modern-day payments version it apparently applies to the complex and problem-ridden transaction chargeback process.

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Frustrated by PPP, many small businesses are ditching their banks

American Banker

Business owners are changing banks at three times normal levels, a trend researchers attribute to their difficulty in obtaining emergency loans. If the forgiveness stage of the Paycheck Protection Program proves arduous, that rate could climb much higher.

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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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China is worth pursuing for U.S. firms, even if it's a tough market

Payments Source

China has a huge market and entrenched payment firms, but a record of digital adoption that makes it a prime market, says PPRO's Steve Villegas.

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COVID-19 Provides Unprecedented Lending Opportunities

The Financial Brand

Digital lending automation and advanced analytics are required to meet the future demand for loans in a post-COVID world. The post COVID-19 Provides Unprecedented Lending Opportunities appeared first on The Financial Brand.

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Relay42, Tapad partner for orchestration capabilities

The Paypers

Digital identity resolution company Tapad has partnered with Relay42 , a company focused on data marketing technology backed by AI.

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A Hybrid Fintech Startup Foretells Banking’s Future

The Financial Brand

A challenger bank's credit marketplace could be seen as a threat or a way forward for banks and credit unions as banking continues to evolve. The post A Hybrid Fintech Startup Foretells Banking’s Future appeared first on The Financial Brand.

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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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PopID, Panasonic join forces for contactless payments and drive-thru systems

The Paypers

Cloud-based payments company PopID and the Panasonic Corporation of North America , a subsidiary of tech company Panasonic, have announced a partnership.

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Treasury To Release SMB Data On PPP Loans

PYMNTS

In a 180-degree turn, the Trump administration now says it will release the names of Paycheck Protection Program (PPP) recipients and the amount of taxpayer-funded loans they received from the $660 billion in aid for small businesses. “I am pleased that we have been able to reach a bipartisan agreement on disclosure which will strike the appropriate balance of providing public transparency, while protecting the payroll and personal income information of small businesses, sole proprietors, and in

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iProov's facial biometric system to be used by Eurostar's users for contactless travel

The Paypers

Spoof-resistant opt-in biometric authentication tech company iProov has announced that its technology will be used to facilitate the speed and safety of train travel.