Chris Skinner
MARCH 18, 2020
It’s very strange times. I’ve taken travel for granted. For years, I’ve been used to open borders, easy connectivity and access to airports. The internet then fuelled that ease of movement and connectivity. Suddenly, via social media, my friends are in Tokyo, Kuala Lumpur, Sydney, Mumbai, Lagos, Paris, Milan, New … The post Did you take the world for granted?
Bank Innovation
MARCH 18, 2020
JPMorgan Chase told its employees today it will be closing about 20% of its branches starting tomorrow. A Chase spokesperson told Bank Innovation the move would “help us protect our employees as we provide essential services to our customers and the communities we serve.” The closures come at a time when banks are increasingly promoting […].
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PYMNTS
MARCH 18, 2020
Every consumer has gone through at least one iteration in their commercial life of the clunky, junky product search. It starts with a basic idea of what one is looking for — but nothing as specific as say a SKU — entered into a search bar. From there, it is picking through returns for the right option, or at least as close to right option as possible, and then clicking around until one finds a transaction point on a checkout page with a buy button.
Bank Innovation
MARCH 18, 2020
The coronavirus pandemic is already having deep ripple effects across the economy and within the banking and fintech ecosystems. Customer needs for truly digital propositions are now more relevant than ever. At the same time, the drastic rate cut and other macro implications will likely force existing banking and fintech business models to rapidly adapt, […].
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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
MARCH 18, 2020
The United States has reached a tipping point on COVID-19, with federal state and local governments implementing new restrictions on where consumers can travel, how many can gather in any given location and requiring restaurants and bars to shut their doors in the hopes of slowing the spread. But for all the actions these governmental bodies have taken to restrict consumers’ movements, most consumers had already changed their routines to avoid it, on their own free will.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Abrigo
MARCH 18, 2020
Key Takeaways. There has been an uptick in phishing scams in Europe and North America related to the coronavirus. Assets available on the dark web include a real-time heatmap of COVID-19 cases. Educate your employees and stakeholders to stay protected. For cybercriminals, vulnerability and anxiety present opportunity. As the coronavirus (COVID-19) continues to spread around the world, cybercriminals are taking advantage of the widespread fear.
Bank Innovation
MARCH 18, 2020
The coronavirus pandemic is already having deep ripple effects across the economy and within the banking and fintech ecosystems. Customer needs for truly digital propositions are now more relevant than ever. At the same time, the drastic rate cut and other macro implications will likely force existing banking and fintech business models to rapidly adapt, […].
PYMNTS
MARCH 18, 2020
While fast, explosive and unexpected change is almost impossible to miss — the global domino effect the coronavirus has kicked off being the most obvious recent example — change that happens more quietly and incrementally doesn’t quite set off the same type of alarm bells. Such is the situation in financial services, where the capabilities that have been unlocked by digitization have rather radically changed consumers and preferences — although perhaps in ways that don’t stand out as obvious.
Bobsguide
MARCH 18, 2020
Synthetic fraud? Biometrics? An abundance of jargon and buzzwords emerge when you begin to research identity validation and data in concert with the creation of a digital account opening strategy. This article attempts to go back to basics and outline some key considerations with data when a.
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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
MARCH 18, 2020
JPMorgan said it will to donate $50 million to groups and organizations that provide support and supplies to people affected by the coronavirus all over the world, according to a report by Reuters. . The first $15 million will go to groups directly dealing with how the virus is affecting people directly, with $5 million to institutions that handle community development, to dole out low- or no-interest loans.
Bobsguide
MARCH 18, 2020
At its meeting on March 12, the Governing Council of the ECB unleashed new, unconventional monetary policy measures to support the liquidity of banks and credit to households and businesses. The new package includes, among other things, changes to the current longer-term auctions (TLTROs) and.
PYMNTS
MARCH 18, 2020
CoinZoom has officially rolled out an exchange and a CoinZoom Visa card, according to an announcement. Customers will have the ability to purchase, sell and spend digital currencies on the exchange with the rollout. The card, which is directly connected to client accounts, lets clients instantly change their digital currency balances to fiat that they can spend at merchants around the globe.
ATM Marketplace
MARCH 18, 2020
ATM has a new editor, Pat Shea, and she welcomes reader insight, story ideas and feedback as the ATM and financial industry are grappling with the serious challenge of COVID-19.
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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
MARCH 18, 2020
This week after what has felt like a steady drumbeat of bad news, American workers who’ve seen their employment either greatly truncated or completely evaporate in the face of the global COVID-19 outbreak finally got a piece of good news. Government relief is reportedly on the way. During a White House press conference Tuesday, (March 17), Treasury Secretary Steven Mnuchin told reporters of the administration’s intention to get relief funds into consumers’ hands as quickly as possible.
Payments Source
MARCH 18, 2020
It’s a rare occurrence for a business to receive a huge business spike while also shutting parts of the operation, but that’s where the coronavirus has landed Farmstead.
PYMNTS
MARCH 18, 2020
Logistics and shipping company FedEx said it can pick up the slack caused by the grounding of several airliners due to the coronavirus outbreak, according to a report by the Associated Press. FedEx Chairman and CEO Fred Smith said the company can handle the new demand for its services all around the world, and executives in the company seem optimistic since China seems to be in the preliminary stages of recovery from the virus.
Banking Exchange
MARCH 18, 2020
Bill Harris to chair One alongside CEO Brian Hamilton; launch slated for summer 2020 after successful funding round The Economy Technology Retail Banking Feature3 Fintech Feature Financial Trends Mobile Online Tech Management Customers.
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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
MARCH 18, 2020
Fraud is a perennial concern for quick-service restaurants (QSRs), and digital channels open ample new avenues for cybercrime, with hackers targeting restaurants for their cash, data and even customers’ loyalty points. High-tech schemes like credential stuffing and account takeover (ATOs) have become commonplace, but many fraudsters still rely on a technique that requires comparatively little technical know-how.
ABA Community Banking
MARCH 18, 2020
Amid the global coronavirus pandemic—and a massive response by policymakers—how can community banks best meet customer and employee needs while managing their balance sheets and loan portfolios? The post Podcast: A Community Bank Coronavirus Playbook appeared first on ABA Banking Journal.
PYMNTS
MARCH 18, 2020
In today’s digital world, automation is key to efficiency. But as more businesses embrace the cloud, they’re also recognizing the complex ways one process or platform intertwines with another. That’s increasingly true for platforms that connect with the portals of their business partners and customers. In a recent conversation with PYMNTS, Bectran Business Development and Implementation Manager Dominic Biegel reflected on the deepening relationship between an organization’s accounts receivable
Bobsguide
MARCH 18, 2020
Trading floors at many of the world’s tier one banks will be reconsidering their view of risk in the face of the coronavirus pandemic according to fintech market participants. “In many ways the pandemic and the consequent market activity has delivered two simultaneous black swans: in.
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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
MARCH 18, 2020
How a business begins a relationship with a supplier can determine how lasting — and profitable — that bond becomes. Employing accounts payable (AP) automation solutions can help smooth onboarding and streamline the data collection and analyzing processes, removing the many friction points that are prone to legacy systems. AP automation also ensures payments to suppliers are made on-time, which goes a long way toward keeping relationships profitable for both parties.
Payments Source
MARCH 18, 2020
In signing off on deposit insurance for the payments giant and student loan servicer, the FDIC sanctioned the first new industrial loan companies in over a decade.
PYMNTS
MARCH 18, 2020
For most retailers, this virus thing is starting to hurt. In fact, the current situation now has a nickname, courtesy of analysts at Jefferies: Closeageddon. “Retailers are now in full-on battle mode,” said Jefferies Analyst Randal Konik , who foresees a 90 percent to 100 percent drop in mall traffic. “For retailers, this is now about near-term survival.”.
American Banker
MARCH 18, 2020
The biggest bank in the U.S. will temporarily close 20% of its branches, following recommendations by health experts. It said it would also operate its remaining branches at reduced hours.
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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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