South State Correspondent
DECEMBER 6, 2020
Now that Thanksgiving is behind us we can turn our attention to the holidays. That means our annual gift guide for bankers. We do this as we not only have a good time putting this together, but it is one of the pieces of content that we produce that drives heavy traffic.
PYMNTS
DECEMBER 6, 2020
Citigroup will be helping governments around the world establish sovereign digital currencies, or central bank digital currencies (CBDC), CEO Michael Corbat says, according to a report from CoinDesk. Speaking with David Rubenstein at a Bloomberg event on Friday (Dec. 4), Corbat said the development of such digital currencies was likely inevitable with the way money has been trending.
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Payments Source
DECEMBER 6, 2020
Banks trudging along slowly with digital advancements are getting a push from virtual card technology providers touting the concept of mass distribution for commercial card issuers.
PYMNTS
DECEMBER 6, 2020
Online payments firm Paysafe is nearing a deal with billionaire Bill Foley for a special purpose acquisition company (SPAC) merger, according to a Bloomberg report, intending for Paysafe to go public. Paysafe is backed by Blackstone and CVC Capital Partners , and the deal with Foley Trasimene Acquisition Corp II is set to create an entity worth around $9 billion, according to sources quoted by Bloomberg.
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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
Payments Source
DECEMBER 6, 2020
Improving data management can also help future-proof data infrastructure and put the appropriate protections in place before it’s too late, says Cohesity's Michael Letschin.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
The Financial Brand
DECEMBER 6, 2020
As we enter 2021, there is a customer experience disconnect between what a banking customer wants and what is being delivered. The post Top 7 Customer Experience Trends in Banking for 2021 appeared first on The Financial Brand.
PYMNTS
DECEMBER 6, 2020
Pioneer Bank has joined the number of firms filing lawsuits over the continuing and complex MyPayrollHR/ValueWise scandal, which a report from the Daily Gazette calls one of the largest in Capital Region history. The scandal caused over $100 million in losses to hundreds of businesses and individuals upon its collapse in August of last year, the report says, when their paychecks didn't go through after CEO Michael Mann , or someone else near the top of the company, moved workers' money into a pr
The Financial Brand
DECEMBER 6, 2020
Fast-growing mega-fintech siphons small business loans and transactions from banks. ILC charter plus P2P could impact the consumer market. The post Why Square’s Expanding Ecosystem Threatens Banking’s Future appeared first on The Financial Brand.
PYMNTS
DECEMBER 6, 2020
MonetaGo , which specializes in blockchain technologies, and GUUD Company , which focuses on making international trade smooth, have teamed up on international financial transaction security, MonetaGo announced in a press release. Both companies are based in Singapore. GUUD has significant operations across Asia, and GUUD executives have publicly announced plans to expand in the region.
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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
The Financial Brand
DECEMBER 6, 2020
Fast-growing mega-fintech siphons small business loans and transactions from banks. ILC charter plus P2P could impact the consumer market. The post Why Square’s Expanding Ecosystem Threatens Banking’s Future appeared first on The Financial Brand.
PYMNTS
DECEMBER 6, 2020
Some Chinese shoppers visiting an established online mall will be able to buy goods with the country's first official digital currency under a new trial announced over the weekend, Reuters and other wire services reported. Residents of Suzhou were given free digital yuan as part of a test orchestrated by China's central bank, according to reports, and retailer JD Digits announced it will accept the currency for some purchases.
The Financial Brand
DECEMBER 6, 2020
Attitudes toward debt and in-person banking have sharply altered. Bank and credit unions marketers need to factor this into their messaging. The post Consumers Freaking Out Financially: How Bank Marketers Must Respond appeared first on The Financial Brand.
PYMNTS
DECEMBER 6, 2020
If venture capitalists got word of a business that had been operating for 30 years, had customers in 118 countries and had a flagship annual event that attracted nearly 200,000 fans, they’d likely be lining up to throw money at the product. And in this case, the product is the World Series of Poker, which refers to itself as “the largest, richest and most prestigious gaming event in the world.
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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.
American Banker
DECEMBER 6, 2020
Banking trade organizations are usually cautious about making endorsements. But with Democrats winning the White House and control of Congress on the line in the two races, some groups are pouring in cash for the GOP candidates.
PYMNTS
DECEMBER 6, 2020
Mastercard , in its just-released Mastercard Economics Institute ’s Economy 2021 report titled “The E-Conomy is Here to Stay,” looks at the past year's economic trends in order to see what's coming next for businesses, according to a press release emailed to PYMNTS. The Economy 2021 study finds that digital spending will likely stick around after the pandemic at least in part.
PYMNTS
DECEMBER 6, 2020
Britain's highly anticipated report outlining new rules to govern Big Tech will call for establishing specific rules for certain sectors of the digital economy and major players within them, the Financial Times (FT) reported. The proposed regulations from the Competition and Markets Authority (CMA) are expected within the next few weeks and are almost certain to guide the actions of a newly announced government digital watchdog, FT reported.
PYMNTS
DECEMBER 6, 2020
A new Singaporean digital bank formed in a joint venture between Grab Holdings Inc. and Singapore Telecommunications Ltd. will hire 200 people before launching publicly in early 2022, Bloomberg reported. The new digital bank is coming about after the joint venture won one of two licenses for full digital banks awarded last week (Dec. 4) by the Monetary Authority of Singapore.
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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
DECEMBER 6, 2020
The European Union (EU) is looking to implement two-tier legislation in its new Digital Services Act to put greater responsibility on Big Tech’s shoulders to help remove more illegal content and fight counterfeit items, Financial Times (FT) reports. The rules would mark the first new changes to the bloc’s internet regulations in 20 years. Brussels’ plan is to adopt “asymmetric measures” in which the biggest companies are subject to more stringent rules than smaller rivals, according to an execut
PYMNTS
DECEMBER 6, 2020
Practice management software provider ImagineTime , which works with accounting firms, has partnered with Mango Billing for a "next-generation practice management solution," according to a press release. The collaboration aims to "increase firms’ revenue, save time and resources, boost productivity, and provide world-class support and service," combining ImagineTime’s own secure file sharing and eSignature services with Mango Billing’s features for tracking, invoicing and scheduling, the release
PYMNTS
DECEMBER 6, 2020
Procurement Partners , which works on procure-to-pay (P2P) services for healthcare providers, has received an investment from Serent Capital , according to a press release. Serent Capital typically focuses on technology and tech-enabled services companies, and Procurement Partners utilizes an eProcurement platform in order to give customers an automated, end-to-end solution for the full purchase cycle from product selection to vendor payment.
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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
DECEMBER 6, 2020
Mastercard is investigating the website Pornhub.com after a withering New York Times column alleged it hosts videos of children and adults being sexually assaulted, Reuters reported. In his Sunday (Dec. 6) column, Pulitzer Prize-winning journalist Nicholas Kristof wrote that Pornhub "monetizes child rapes, revenge pornography, spy cam videos of women showering, racist and misogynist content, and footage of women being asphyxiated in plastic bags.".
PYMNTS
DECEMBER 6, 2020
The U.S. Senate may as early as Monday take up a new $908 billion stimulus package that includes help for small- to medium-sized businesses (SMBs) and state and local governments but will not include checks to U.S. households, the Financial Times (FT) reported. The package, according to FT, which cited multiple public statements by lawmakers, includes: $288 billion for SMBs; $180 billion to bolster unemployment benefits with an extra $300 per week; $160 billion for state and local governments; a
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