Sun.Mar 22, 2020

The Finanser’s Week: 16th March 2020 – 22nd March 2020

Chris Skinner

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.

India Launches WhatsApp Chatbot

PYMNTS

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.

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A bank making a mark in mad bad times

Chris Skinner

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.

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J.Crew Shelves Madewell IPO After Deal Crumbles

PYMNTS

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.

Things worth reading: 23rd March 2020

Chris Skinner

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.

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Bitcoin Daily: Coinbase Handled $2B In Crypto As Markets Tanked

PYMNTS

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.

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Universities Face Financial Hit If Foreign Students Stay Home

PYMNTS

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.

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Agencies tell banks they will not be criticized for loan modifications

American Banker

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. FDIC Federal Reserve CSBS OCC Lending Coronavirus NCUA CFPB Loan modifications

IOC Mulls Plan To Delay Tokyo Olympics

PYMNTS

Here are the latest updates on the coronavirus from around the world.

Square’s small merchants are in trouble. Will a bank license be enough to help?

Payments Source

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. Mobile point-of-sale Lending Square Retailers Point-of-sale Coronavirus

Afinis Enables Payments API Standardization Testing

PYMNTS

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.

CFPB urged to protect elderly from pandemic scammers

American Banker

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.

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Lawsuit Says Facebook Officials Knew About Ad Metric Issues And Did Nothing

PYMNTS

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.

What do you want a post #Coronavirus world to look like?

Daily Fintech

We are learning what words like disruption, creative destruction and viral really mean. They are not just words on a pitch-deck any more. The Greatest Generation were tested in the Second World War. Baby Boomers (like me) had it easy thanks to their bravery & sacrifice.

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Fed Plans Release Of Clean Cash As Virus Spreads

PYMNTS

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.

Getting personal is the only way for payment techs to win users

Payments Source

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. Fintech Amazon Digital payments ISO and agent Merchant Mobile wallets

Car-Sharing Startup Getaround Looks For Buyer

PYMNTS

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.

Coronavirus in Kenya: Week One

Bankelele

The immediate impacts of the discovery of coronavirus in Kenya and Eastern Africa in March 2020. ADB CBK Coronavirus Covid19 East African Community Ebola Ethiopia KBA Kenya Airways Kenya parliament medical insurance Rwanda Safaricom Uganda

Zoho Makes Enterprise Apps Free For Coronavirus-Impacted SMBs

PYMNTS

Zoho , which provides business-related apps for customer service, marketing and more, is letting companies use its products for free during the coronavirus pandemic, according to a press release.

Payments, Treasury & Cash Management Expert, Joseph Spatarella Joins CCG Catalyst Consulting as a Principal

CCG Insights

Joseph Spatarella, an expert in Payments, Treasury & Cash Management has joined CCG Catalyst as Principal in the firm’s Digital Strategy practice. The post Payments, Treasury & Cash Management Expert, Joseph Spatarella Joins CCG Catalyst Consulting as a Principal appeared first on CCG Catalyst Consulting Group. CCG Catalyst Press Releases cash management digital strategy Joe Spatarella payments treasury

Retailers Woo Homebound Consumers With Big Deals

PYMNTS

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.

Financial Services Expert, John Macaluso Joins CCG Catalyst Consulting as a Principal

CCG Insights

John Macaluso, an expert in financial services has joined CCG Catalyst as Principal in the firm’s Technology Strategy practice. PHOENIX, ARIZONA, March 22, 2020: John (Mac) Macaluso, an expert in. The post Financial Services Expert, John Macaluso Joins CCG Catalyst Consulting as a Principal appeared first on CCG Catalyst Consulting Group. CCG Catalyst Press Releases financial services innovation technology strategy

Teampay Wields Slack To Promote Controller Collaboration

PYMNTS

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).

Coronavirus Impact On Financial Marketing Communication

The Financial Brand

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.

US Economy Could Lose 5M Jobs In COVID-19 Fallout

PYMNTS

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.,

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COVID-19 Is Crushing Small Business: Can Banks Move Fast Enough?

The Financial Brand

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.

Apple Customers Can’t Get Devices Back Until Stores Reopen

PYMNTS

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.

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Coronavirus Roundup: Critical Consumer Trends & Insight for Banking

The Financial Brand

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.