Fri.Nov 20, 2020

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Deep Dive: How Prepaid Cards Support Faster, More Accessible Employee Compensation

PYMNTS

Companies with global workforces need to overcome numerous challenges to quickly and easily pay their employees. Providing prompt compensation is critical because workers’ loyalty could be damaged if frictions affect their paychecks. Employees’ payment preferences and access to financial tools can vary, however. . Firms recognize that not all employees can receive payments into bank accounts, and these companies must therefore provide secure, convenient alternatives.

Cards 197
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Can blockchain transform cross-border payments?

Payments Dive

Cross-border payments are fraught with difficulties from long paper trails to complicated contracts/ Blockchain has emerged as a possible contender to streamline the process, however, but is it ready to tackle cross-border payments?

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Baseline Certifications for Professionals working in the M365, Power Platform, and Azure spaces

Perficient

Baseline Certifications for Professionals working in the M365, Power Platform, and Azure spaces. Anyone selling, designing, delivering, or supporting Microsoft services in the M365, Azure, or Power Platform (I will call this Microsoft Cloud below) should consider studying for and obtaining the three ‘Fundamentals’ certifications from Microsoft.

Course 332
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Amazon CEO Jeff Bezos Invests In Chipper Cash In Latest African FinTech VC Deal

PYMNTS

African FinTech Chipper Cash has landed a whale of an investor. Chipper CEO Ham Serunjogi confirmed on Twitter the startup, which got its initial foothold in the market as a peer-to-peer (P2P) payments service, has just wrapped up a $30 million Series B round of venture capital. And among the investors was none other than multibillionaire Amazon Founder and CEO Jeff Bezos, who participated through Bezos Expeditions, his personal venture capital fund.

Fintech 332
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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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Nov 2020 – Patch Update for EPM Automate

Perficient

I am just echoing Oracle’s document. Here are the new features with respect to EPM Automate. It clearly benefits the FCC / Tax Reporting audience. To be precise more on the SDM / Close Manager side of FCC – you have new commands to clear region / copy region by profile. Have fun Exploring! Good luck! EPM AUTOMATE UPDATES A new version of EPM Automate is available.

Taxes 322

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Colleagues Pitch in for the Parks

Perficient

At Perficient, we are committed to giving back to the communities where we live and work. From volunteering at food banks and urban farms , to building homes and saving penguins , our colleagues selflessly give their time to make their communities a better place. Pitching in for the Parks. Our Chicago colleagues are always looking for ways to contribute to their community.

Chicago 322
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Loadsmart Lands $90M From BlackRock, Maersk, For Digital Shipping Platform

PYMNTS

Investors just delivered another $90 million into the coffers of Loadsmart , a digital freight startup, the company announced Friday (Nov. 20). BlackRock led the Series C funding round, which also included key industry investors like international shipping giant Maersk, which has been an investor since Loadsmart’s Series A round, and TFI International Inc.

Capital 253
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Gartner recognizes Oracle HCM Cloud as a SaaS Leader

Perficient

The independent Gartner research group released its Magic Quadrant evaluating HCM Cloud applications for 1000+ employee enterprises and Oracle is named a Leader for the 5 th consecutive year. The SaaS solution provides functionality from Global HR, Workforce Management, Talent Management and Payroll. With newer additions, Digital Assistant and Health & Safety, tools used by customers to safely navigate employees return to work during the Covid-19 pandemic.

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eBay Repurposes LA Gas Station For Authentication Drive-Thru

PYMNTS

An old Los Angeles gas station is getting a new life as a drive-thru authentication hub for eBay , according to a company statement on Friday (Nov. 20). The vintage 1941 former Texaco Station is located in the Koreatown neighborhood on Beverly Boulevard. eBay’s first-ever "Authentication Station" can be used by sellers to verify the authenticity of frequently counterfeited merchandise like sneakers and watches.

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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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Terraform on AWS Cloud: Manage Infrastructure as a Code

Perficient

Deployment and infrastructure management is not a simple process; in fact, it involves multiple steps and tools to provision infrastructure. We need tools that make this process seamless, easy, and effective. Take Terraform, a tool used to provision and manage infrastructure within any cloud. This open-source tool created by HashiCorp allows you to codify your infrastructure as versioned, declarative configuration files to share and review.

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Mobile Banking App Users Pull Ahead Of FIs On Expectations

PYMNTS

It’s been a long slog since April 2020 when a harmonic convergence of bad financial news and a worsening global health crisis formed the “crater” of the pandemic. April was also the month that financial institutions (FIs) and Big Tech firms alike learned that mobile banking had become a much bigger, more important channel, virtually overnight. It took crashing the websites of a string of major banks and credit unions for the sector to grasp what happened.

Mobile 235
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How Open Banking can help SMEâ??s grow and thrive

Bobsguide

In September the UK’s Open Banking implementation body (OBIE) announced a significant uptake in the number of Open Banking service uses in the UK, with over two million people now benefiting from Open Banking products. This represents a 100 percent increase in users in just over six months.

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Prescription Apps Ranked As America Takes Its Medicine

PYMNTS

If 2020 is the year that telemedicine went prime time, it’s no shock to the system that prescription pharmaceuticals are taking a similar, digital direct-to-consumer path. And as the prescription drug sector undergoes its own digital shift, PYMNTS’ November Provider Ranking of Prescription Apps is the ideal remedy for those who watch the movers and shakers in the category for telltale signs of the rising Rx super-apps of the day after tomorrow.

America 227
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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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7 ways the coronavirus pandemic changed remittances

Payments Source

When the pandemic hit full-force and lockdowns closed many agent locations, the industry’s shift to digital accelerated quickly. Even as job losses rose among those sending money overseas, the demand from recipients kept money moving, including among legacy companies like Western Union and MoneyGram.

Company 134
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COVID Casts More Doubt On Future Of Bank Branches

PYMNTS

Physical banking was already on the decline before the COVID-19 pandemic put much of the physical economy into the deep freeze for a year and left customers scrambling to digitize their day-to-day lives as much as possible and as fast as possible. Consumers were already shifting an increasing number of their account management activities to online sites and mobile apps.

Metro 222
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How employers can support workers thrust into caregiving roles

Payments Source

Many employees, particularly women, are likely to become unexpected caregivers at some point. Companies should do more to ease their burden, says a top retirement and wealth specialist at Bank of America Merrill Lynch.

America 111
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Chegg CFO: How Existing FinTech Partners Bolster Digital Transformation

PYMNTS

The name of the game is digitization for organizations across all industries, thanks to the "new normal" of working from home amid the pandemic. But what does the process of digital adoption actually look like from the vantage point of the CFO? For Andy Brown , CFO at education technology company Chegg , there was a plethora of opportunities to embrace by collaborating with third-party FinTech partners.

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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

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.

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Mobile cash technology: Get cash from the ATM, but leave the debit card home

ATM Marketplace

ATM Marketplace spoke with John Clatworthy, SVP, chief customer and strategy officer for Cash Connect on mobile cash technology and how customers can access their cash without using their debit card.

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Mars, Mondelez Say CPG Direct-To-Consumer Sales Need Constant Innovation

PYMNTS

The digital shift has been well-documented in many categories but arguably none have been as dramatic as the consumer packaged goods (CPG) category. Research shows it has gone from 3 percent of total sales before the pandemic to 15 percent at its current rate. It’s no wonder that some of the world’s leading CPG companies have a keen interest in the channel, for now and the future.

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OCC seeks to bar banks from shunning disfavored industries

American Banker

Some large banks have come under fire from the GOP for curbing services to firms in controversial industries, such as firearms and fossil fuels. A proposal by the Office of the Comptroller of the Currency aims to block banks from taking such stances.

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Chipotle Personalizes Loyalty Program, Digital Ordering Experience

PYMNTS

Winter is around the corner, bringing colder temperatures and prompting many restaurants to question whether their operations can survive the season. Many quick-service restaurants (QSRs) have taken their dine-in services outdoors since the pandemic began to better adhere to social distancing protocols and capacity limits on indoor seating. As the warm weather fades, however, they are now being forced to get creative — from providing electric heaters to setting up geodesic domes — to keep custom

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Top 10 Benefits of Automating Loan Modifications for Commercial Lenders

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.

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Congress about to relieve banks of a key AML burden

American Banker

Banks are responsible for reporting their business customers' beneficial owners, but a bill that would shift that anti-money-laundering duty to businesses themselves has been added to a must-pass defense spending package.

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Holiday Digital Disconnect Looms Between Merchants And Consumers

PYMNTS

The holidays are here. So, too, is a spike in COVID-19 cases. With a resurgence in public health concerns, it makes sense that commerce would increasingly skew digital, with the comfort of … well, touching as little as possible. Consumers want to pay by mobile means, headed into what is arguably the traditional “make or break” period for retailers that lasts from Thanksgiving through the end of the year.

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US Bank, Wells Fargo digitize back office B2B payments

BankInovation

U.S. Bank and Wells Fargo are advancing B2B payment solutions with the debut of two new automated products for back-office operations. Wells Fargo on Thursday released its WellsOne Virtual Card Payment Service, which allows business owners to eliminate paper checks by using a one-time virtual card number to digitally pay invoices. The virtual card numbers […].

US 69
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JPMorgan: Spiking COVID-19 Signals Likely Q1 GDP Slump

PYMNTS

A growing wave of coronavirus cases and related restrictions could trigger a decline in first-quarter gross domestic product (GDP), J.P. Morgan economists said in a new forecast, CNBC reported Friday (Nov. 20). "This winter will be grim, and we believe the economy will contract again in 1Q," the economists wrote. “We think the trends in the labor market should roughly follow what we expect for consumer spending — job growth should weaken noticeably around the turn of the year as the virus weighs

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2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

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.