Payments Dive
JANUARY 15, 2021
Counterfeiting is an absolutely massive industry, logging in trillions of dollars every year. It can be a big threat both to consumers who unknowingly purchase these products and retailers as well looking to sell legitimate products.
Perficient
JANUARY 15, 2021
COVID-19 has undoubtedly affected financial services trends in 2020 and will continue to do so into 2021. Since the pandemic began, financial services organizations have been responding to the crisis with continuity plans to address everything from bankruptcies to people losing their jobs and ability to pay their bills on time. Now more than ever customers need to be supported with trust, transparency and data-based decision making.
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Payments Dive
JANUARY 15, 2021
Through a partnership with eGain, GreenPath has launched a Virtual Finance Coach. This innovative AI-powered Coach shares friendly step-by-step guidance based on the customer’s interests, financial priorities and founded behavioral principles.
Accenture
JANUARY 15, 2021
Central bank digital currencies (CBDCs) would help advance the digitalisation of payments and the economy as a whole. Retail, wholesale and international payments using CBDC would expand choices, enabling more diversified payment systems and greater autonomy for the central bank. CBDC for retail payments CBDC can serve as a settlement medium for digital transactions online….
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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
JANUARY 15, 2021
Target crushed online commerce and reported decent in-store sales volume for the holidays, while Urban Outfitters and Nordstrom had weak in-store traffic that even fairly positive online volume couldn’t surmount. In retail technology, Toshiba Global Commerce Solutions ’ new Elera system aims to supplant in-store IT systems with a new cloud-enabled technology.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
JANUARY 15, 2021
Surviving the worst year in aviation history is, itself, an accomplishment. According to Delta Airlines CEO Ed Bastian, while pre-COVID volumes and travel practices may never fully return, the road to recovery has begun. The final destination, however, will be different, especially for the big-ticket business class segment. “All indications are [that] corporate travel is ready to start coming back, and will come back pretty aggressively beginning the second half of this year,” Bastian told analy
Bobsguide
JANUARY 15, 2021
Regulators issued fresh warnings on investing in cryptocurrencies after Bitcoin skyrocketed to a new all-time high last week. The UK’s Financial Conduct Authority (FCA) cautioned consumers about the high risks involved in investing in cryptocurrencies.
PYMNTS
JANUARY 15, 2021
The Financial Crimes Enforcement Network (FinCEN) late Friday (Jan. 15) announced that it is assessing a $390 million penalty against Capital One for engaging in what it says are “both willful and negligent violations” of the Bank Secrecy Act (BSA). According to a statement from FinCEN , Capital One admitted to failing to implement and maintain an effective anti-money laundering (AML) program.
Payments Source
JANUARY 15, 2021
Some companies cut off the flow of cash to insurrectionists, while others put a halt to their political spending. Their actions came quickly after the events of Jan. 6.
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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
JANUARY 15, 2021
A year ago, as 2019 was turning over into 2020, the distinction between card-present transactions and card-not present transactions was highly relevant in the world of commerce. As 2020 is becoming 2021, on the other hand — not so much and for good reason. As Ondot Head of Product Solutions Randy Piatt told PYMNTS in a recent conversation, card-present transactions have been reduced in direct correlation with most of consumer’s real-world activities.
Payments Source
JANUARY 15, 2021
Fresh market interest and government action have created a chance for payment technology providers like Circle to promote blockchain-powered transactions.
PYMNTS
JANUARY 15, 2021
The Office of the Comptroller of the Currency (OCC) released a finalized rule on ensuring fair access to banking services from large national banks, federal savings associations, and federal branches and agencies of foreign bank organizations, according to a press release. With the rule, a decade of OCC guidance saying that the banks should work with risk assessment of individual customers is codified, rather than the alternative of making assumptions affecting whole categories of customers whil
American Banker
JANUARY 15, 2021
The McLean, Va.-based company admitted that it failed to file suspicious activity reports even in cases when it knew about criminal charges against specific customers. The misconduct took place in a unit that served check-cashing businesses and was later shut down.
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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
JANUARY 15, 2021
The use of QR codes is growing more popular in the United States, enabling consumers to instantly access information and easily pay on their smartphones without going through a URL entry. These codes are particularly useful when it comes to contactless payments, as they allow funds to be instantly transferred through a simple printout on restaurant bills or checkout counters.
ATM Marketplace
JANUARY 15, 2021
Andrew Rostami, head of unsecured lending at Citizens Bank, shares insight on how modern point of sale programs, that embed financing, are essentially a stimulus program targeted to a merchant’s consumers.
PYMNTS
JANUARY 15, 2021
Latin American eCommerce giant MercadoLibre has sold $1.1 billion in bonds to expand its fleet of electric-powered delivery vehicles. “We’re seeing positive results, and adoption of electric vehicles within our network should intensify going forward,” Andre Chaves , senior vice president of MercadoLibre, told Bloomberg on Friday (Jan. 15). He added that the company seeks to expand its electric delivery fleet by at least 14 times.
American Banker
JANUARY 15, 2021
Weeks away from succeeding Michael Corbat, Jane Fraser said she’d consider streamlining some units or divesting others as part of her effort to kick-start return on equity.
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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
JANUARY 15, 2021
The Hudson Group plans to add Amazon’s Just Walk Out technology to some of the popular convenience stores the chain operates at more than 1,000 North American airports, train stations and other landmarks and tourist destinations. . “Today’s traveler is progressively more connected, mobile, and time sensitive — and they have higher expectations for convenience, safety, and speed during their shopping experiences,” Brian Quinn , Hudson’s executive vice president and chief operating officer, said
BankInovation
JANUARY 15, 2021
Fintechs MX and Blend secured $300 million funding rounds Wednesday just as both companies top off plans for digital innovations in the coming months. Global payments fintech Rapyd also joined the pack with its own $300 million package, which it will use to expand its engineering teams. MX focuses on data-driven automation As the Lehi, Utah-based MX grows its cash influx, the company is looking to enhance its data analytics softwares, giving consumers optimized insights […].
PYMNTS
JANUARY 15, 2021
Apple is exploring the addition of a premium subscription podcast tier to become a more competitive rival to Spotify, Bloomberg reported on Friday (Jan. 15), citing sources. The move comes as the tech giant ponders funding original programming, the sources told Bloomberg. For over 10 years Apple has dominated podcast distribution, offering the talk radio-style broadcasts at no charge.
American Banker
JANUARY 15, 2021
The OCC had hit James Strother and other executives with civil charges a year ago in connection with the bank's phony-accounts scandal. His monetary penalty is lower than what the agency had first floated.
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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
JANUARY 15, 2021
Cryptocurrency exchange Gemini announced in a press release Thursday (Jan. 14) that it will soon be offering a cryptocurrency rewards credit card with its acquisition of Blockrize , which was developing such a card. Gemini Credit Card users will earn up to 3 percent back in cryptocurrency on every purchase, the release said, and will be able to use the card everywhere major cards are accepted.
American Banker
JANUARY 15, 2021
Federal relief efforts have minimized loan losses so far, but risks remain in credit card, auto and business lending. Many borrowers will need another lifeline to stay afloat until the economy rebounds, CEO Jamie Dimon says.
PYMNTS
JANUARY 15, 2021
Digital greeting card and gifting company Givingli has chosen Blackhawk Network to provide its app users with digital gift card selections. Givingli is an app that brings together greetings created by indie artists, customization functionalities, and gifts from brands, according to a Thursday (Jan. 14) announcement. “We value Blackhawk’s reliable integrations and powerful connections to some of the world’s best brands in addition to its innovative approaches to helping us solve some of our most
BankInovation
JANUARY 15, 2021
This week investors funneled nearly $1 billion to fintechs MX, Blend, Rho Technologies and Rapyd, some of which are teeing up automation initiatives with an eye toward data management. Meanwhile, Temenos reported it is exploring the addition of automated responses for its Engage platform, and Kasisto is working with NCR to bring chatbot technology to smaller financial institutions.
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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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