Chris Skinner

JUNE 14, 2020

Like many, I’ve watched 2020 unfold with a mixture of shock and horror. It began with Australian bushfires followed rapidly by the coronavirus pandemic and now the Black Lives Matter demonstrations. My real shock was that there could be so many global demonstrations during a major global lockdown. Do rules … The post 2020: No Vision (I thought we were an autonomous collective) appeared first on Chris Skinner's blog.

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PYMNTS

JUNE 14, 2020

Like many small businesses, Bluebonnet Photography has been hurt by the pandemic as customers have canceled photo shoots, The Wall Street Journal (WSJ) reported. Now, the Tacoma, Washington, portrait studio is facing another challenge. Square , the San Francisco-based ePayment company, recently started holding 30 percent for every transaction for four months “to protect you and Square from unexpected loss events,” according to WSJ.

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San Francisco Boston Washington Software 221

Chris Skinner

JUNE 14, 2020

Things we’re reading today include … PagoFX — Can a bank really build its own fintech? Bank of England joins Dennis the Menace for kids project Wall Street Week Ahead: Investors bet bounce in value stocks will stick Crunch time for China’s robot startups as pandemic brings pain and opportunities … The post Things worth reading: 15th June 2020 appeared first on Chris Skinner's blog.

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Fintech 242

PYMNTS

JUNE 14, 2020

Coupa Software , which works in business spend management, announced that it has acquired treasury management software BELLIN Group , according to a press release. The acquisition will help Coupa strengthen its value for those in need of treasury, payments and working capital services, and make it more comprehensive as a tool for business spend. Using BELLIN’s tools for cash and liquidity management and advanced payments capabilities, Coupa hopes to get better visibility for customers and

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Groups Software Tools Management 202

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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

Lending

Payments Source

JUNE 14, 2020

For Starbucks, the pandemic’s emergency workarounds are also a proving ground for a retail concept that could change the way people visit quick-serve restaurants.

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Payments Source

JUNE 14, 2020

Nobody knows what the next six to 12 months are going to look like. That means AP needs to focus on conserving cash while keeping operations moving, says Nvoicepay's Josh Cyphers and Derek Halpern.

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Strategy Operations Payments 79

PYMNTS

JUNE 14, 2020

Three merchant cash advance companies are facing a lawsuit from New York Attorney General Letitia James over reportedly practicing illicit measures when loaning money to clients, according to a press release. The three companies charged are Richmond Capital Group, Ram Capital Funding and Viceroy Capital Funding. They are accused of charging “astronomically-high interest rates” on loans, charging undisclosed fees, withdrawing too much from clients’ bank accounts, and filing fals

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FluentBanking

JUNE 14, 2020

A payment order is an order drawn by a bank upon itself to make payment of the amount mentioned therein to the demand of the payee. The payment order carries the primary liability of the issuing bank for payment and must make its payment to the payee or some other person named by the payee. It cannot be canceled or the payment cannot be stopped without the consent of the beneficiary.

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Payments 72

PYMNTS

JUNE 14, 2020

Online grocery sales rose to a record $6.6 billion last month, up 65 percent from March, propelled by high demand from pandemic lockdowns, according to research firm Brick Meets Click. Rather than donning masks and following social distancing rules, shoppers have turned to grocery delivery services as 43 million customers shopped online in May, up from 39.5 million in March, a nearly 9 percent hike, the survey revealed.

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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

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Lars Markull

JUNE 14, 2020

In the last years, I said probably a few thousand times “our bank accounts contain a lot of value about ourselves”. And I am continuing to do so. If you have a bank account for a few years and are are not a cash-fanatic, the bank account will be able say a lot about your life stage, life choices and your personal preferences. However, even though bank accounts contain a lot of data, often that data is not enough.

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Data Fintech Innovation Lending 52

PYMNTS

JUNE 14, 2020

Stimulus payments to taxpayers totaling $267 billion was not enough to avoid a decline in household net worth in the first quarter on 2020, the largest drop since records began being kept in the 1950s, The Wall Street Journal (WSJ) reported. The Federal Reserve Board’s Flow of Funds report revealed net worth among families fell to $110.8 trillion in the first quarter compared to $117.3 trillion in Q1 of last year, a 6.5 percent dip, as the pandemic caused equity prices to fall by $7.8 trillion.

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Report National Industry Marketing 175

Lars Markull

JUNE 14, 2020

In the last years, I said probably a few thousand times “our bank accounts contain a lot of value about ourselves” And I am continuing to do so. If you have a bank account for a few years and are are not a cash-fanatic, the bank account will be able say a lot about your life stage, life choices and your personal preferences. However, even though bank accounts contain a lot of data, often that data is not enough.

Data 40

Data Innovation Fintech Lending 40

PYMNTS

JUNE 14, 2020

In an interview with “ Face the Nation ,” Dallas Federal Reserve President Robert Kaplan said he expects some recovery in the unemployment rate this year, although it will still likely be very high at the end of the year. Speaking with reporter Margaret Brennan of CBS, Kaplan said it’s likely that the unemployment rate, currently in the mid-teens, will fall some in June, July and onward, resulting from positive job growth.

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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.

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Bankelele

JUNE 14, 2020

Simple access to Kenyan newspapers during Covid_19.

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Groups National 64

The Financial Brand

JUNE 14, 2020

A frictionless digital customer experience requires simplicity, transparency, personalization, consistency and trust. The post Most Financial Institutions Still Make Banking Too Difficult appeared first on The Financial Brand.

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Customer Experience Branding Digital Banking Strategy 40

PYMNTS

JUNE 14, 2020

Telemedicine existed in the pre-pandemic world — spending the past several years trying to gain a foothold among Americans while mostly stymied by a range of regulatory restrictions designed to protect consumers against fraudsters and those who would inflate costs. But then the pandemic hit with the force of a meteor, pushing regulators to amend or suspend guidelines that critics say held back telemedicine’s advance in America.

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Hawaii Study Regulation Guidelines 197

The Financial Brand

JUNE 14, 2020

As the industry fixates on the next digital banking silver bullet, it continues to overlook the friction a siloed approach has created. The post Banking in the New Normal: Removing Silos From Your Digital Experience appeared first on The Financial Brand.

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Digital Banking Branding Industry Customer Experience 35

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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.

US

PYMNTS

JUNE 14, 2020

American Express has won initial approval from the People’s Bank of China (PBOC) to process the nation’s currency, the global financial services network announced in a press release Saturday (June 13). Express Company, a joint venture between American Express and LianLian DigiTech, a Chinese FinTech services company, are expected to begin processing transactions later this year.

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Cards Industry Mobile Strategy 176

The Financial Brand

JUNE 14, 2020

Challenger banks and other fintechs have hit a rough stretch due to funding issues and lower revenue. But don't start celebrating just yet. The post Are Challenger Banks on the Rocks? Or Will They Rock You? appeared first on The Financial Brand.

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Branding Fintech Customer Experience Digital Banking 31

American Banker

JUNE 14, 2020

Evidence suggests some minority-owned businesses can’t access loans, and the Trump administration is under pressure to report borrower demographics. The issue is gaining attention against the backdrop of protests over the George Floyd killing.

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