Chris Skinner
MARCH 22, 2020
The travel bans across Europe hit last week, we were told to stay at home, we are advised to self-isolate, our children’s schooling is cancelled, the supermarkets are working with face masks and social distancing … the world has changed. As a result of so many people losing short-term income … The post A bank making a mark in mad bad times appeared first on Chris Skinner's blog.
PYMNTS
MARCH 22, 2020
In the midst of the coronavirus pandemic, the Federal Reserve has plans to print new money that will not have come into contact with the virus, although this may not happen immediately, according to a report by CoinDesk. The Fed doesn’t currently think that the virus will be worsened by the transmission and trading-hands of dollars, Joey Lee, spokesperson for the Federal Reserve Bank of Philadelphia, said, pointing to recent Centers for Disease Control and Prevention (CDC) findings.
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Chris Skinner
MARCH 22, 2020
The main blog headlines are … #Coronavirus, cash and the breakup of the Eurozone I’m sitting staring at the wall. It’s been a long time now since being in a face-to-face meeting, conference or catching a flight. I’m staring at the wall. Thinking. Thinking. Thinking … what’s the meaning of … The post The Finanser’s Week: 16th March 2020 – 22nd March 2020 appeared first on Chris Skinner's blog.
PYMNTS
MARCH 22, 2020
Tech companies are acting quickly to install updates and new programs to help people stay safe and informed as the coronavirus continues its worldwide spread. Google, for instance, has updated its search engine for more specific details and resources regarding the virus. The search engine company has re-formatted its coronavirus-related results to give people the newest, most accurate information about the virus, its spread and more.
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.
Chris Skinner
MARCH 22, 2020
Things we’re reading today include … UK lenders banned from repossessing homes amid coronavirus crisis EU states ‘dragging their feet’ over financial transparency, report finds Advancing bank tech ‘broadens hack attack surface’ Economists told us what a pandemic could do. Who listened? | Torsten Bell Global economy will suffer for … The post Things worth reading: 23rd March 2020 appeared first on Chris Skinner's blog.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Source
MARCH 22, 2020
The coronavirus is hitting small businesses hard, slamming one of Square’s core markets just as the payments company got a long-awaited industrial banking license.
PYMNTS
MARCH 22, 2020
San Francisco crypto exchange Coinbase saw a spike in traffic and a surge of $2 billion during one 24-hour period amid the chaotic strife of the coronavirus-ridden markets. According to Coinbase CEO Brian Armstrong, the exchange saw a $2 billion increase in crypto processing last Thursday and Friday, which was a 50 percent increase over the exchange’s usual rates — it reported $394 million over the last 24 hours.
Payments Source
MARCH 22, 2020
Today’s consumers increasingly live in a world of customization, and their expectations mirror the need for a seamless consumer experience that addresses their personal preferences, says Envestnet's Brandon Rembe.
PYMNTS
MARCH 22, 2020
J.Crew Group is dropping the initial public offering (IPO) of its Madewell spinoff brand after creditor negotiations crumbled, Bloomberg reported Friday (March 20), citing sources familiar with the matter. After terms couldn’t be reached, J.Crew decided Madewell would not go public anytime soon, sources said. If the market takes a turn for the better, J.Crew could decide to make a counter-proposal, according to the sources.
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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
American Banker
MARCH 22, 2020
With the government’s backing and thanks to the unprecedented capital levels they built up since the 2008 financial crisis, banks could provide relief in a way that they never have before.
PYMNTS
MARCH 22, 2020
Nacha-owned membership organization Afinis Interoperability Standards is teaming up with Findland-based XMLdation to automate application programming interface (API) standardization in the payments space, Nacha announced. The partnership will give Nacha investors the opportunity to capitalize on XMLdation’s testing capabilities using the Afinis developer portal.
American Banker
MARCH 22, 2020
The COVID-19 pandemic has already given rise to false marketing of test kits and criminals impersonating the FDIC. Consumer advocates say the bureau could issue alerts as well as empower banks to help safeguard their customers’ funds.
PYMNTS
MARCH 22, 2020
The newest estimate as to the total number of jobs that will be lost because of the coronavirus sits at around 5 million, according to The Wall Street Journal. According to numbers predicted by experts, the economic shortfall could hit up to $1.5 trillion across the U.S., and a recession is almost certainly going to happen. The downturn, according to experts, could last months.
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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
American Banker
MARCH 22, 2020
Accommodations for borrowers affected by the coronavirus pandemic, such as payment delays and fee waivers, are "positive and proactive actions that can manage or mitigate adverse impacts," the regulators said.
PYMNTS
MARCH 22, 2020
The Getaround car-sharing platform is shopping around for a buyer as the coronavirus pandemic kills demand for its services, Bloomberg reported Friday (March 20), citing sources. The Softbank -backed startup had been valued at $1-plus billion, but travel-related businesses have been financially decimated as COVID-19, the disease caused by the coronavirus, forces people indoors for both school and work, and outdoor gatherings are reduced or banned.
The Financial Brand
MARCH 22, 2020
The coronavirus outbreak provides an opportunity for financial marketers to think long-term around brand building and targeted solution deployment. The post Coronavirus Impact On Financial Marketing Communication appeared first on The Financial Brand.
PYMNTS
MARCH 22, 2020
Facebook is under fire in a new set of documents in a lawsuit, which allege the company knew for years that paid advertising services on the site were exaggerating and distorting the number of people who would see the ads, according to a report by the Financial Times. The numbers, according to the documents, often included fake or duplicate accounts, thereby inflating the actual effect the ads would have.
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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.
The Financial Brand
MARCH 22, 2020
Financial institutions are key to helping stave off disaster for a vital sector of the economy. Speed and flexibility are imperative now. The post COVID-19 Is Crushing Small Business: Can Banks Move Fast Enough? appeared first on The Financial Brand.
PYMNTS
MARCH 22, 2020
With Apple stores closed due to the coronavirus pandemic, people who left their iPhones or other devices for repair won’t be able to retrieve them until further notice, according to reports. Customers were given a two-day window to pick up their devices beyond the official March 14 closing of Apple stores. Anyone who didn’t get to Apple retailers during that time period will have to wait until the stores reopen, an Apple spokesperson told Business Insider Friday (March 20).
Bankelele
MARCH 22, 2020
The immediate impacts of the discovery of coronavirus in Kenya and Eastern Africa in March 2020.
PYMNTS
MARCH 22, 2020
As the fast-spreading coronavirus changes daily life and affects every industry sector, businesses are finding new ways to stay afloat and keep customers fed and entertained. With the closure of nearly all casinos nationwide, the online gambling trade group iDevelopment & Economic Association (iDEA) is asking states to free up restrictions so casinos can replace some revenue lost from shutting doors — and help refill state tax coffers, The Wall Street Journal reported.
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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.
The Financial Brand
MARCH 22, 2020
Coronavirus messaging, communication and promotion must be crafted with Americans' new moods and modes, and the latest headlines, in mind. The post Coronavirus Roundup: Critical Consumer Trends & Insight for Banking appeared first on The Financial Brand.
PYMNTS
MARCH 22, 2020
Spend management startup Teampay is introducing the Controller Collective, a Slack -based exchange to assist controllers and senior accounting professionals, Teampay said in a statement on Friday (March 20). Through the Controller Collective Slack group, accounting professionals can access online and offline events as well as relevant content and peer-to-peer networking.
PYMNTS
MARCH 22, 2020
The coronavirus pandemic and its many different ripple effects could point toward one conclusion: In the future, there may be a drastic decline in the number of Chinese students who apply to schools in Western countries, according to a report by The New York Times. That could be a bad thing for universities. Many of them depend on large influxes of Chinese students’ money and could end up seeing a dent in revenues if it happens.
PYMNTS
MARCH 22, 2020
Here are the latest updates on the coronavirus from around the world. The International Olympic Committee (IOC) and organizers of the 2020 Tokyo Olympics have begun talks to hold off on the popular sporting event, in spite of the Japanese government’s previous stance that postponement would not happen, Reuters reported. The organizers want to explore alternatives to holding the games as planned due to the widespread and continuing disruptions of the coronavirus on almost every facet of the
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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.
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