Chris Skinner
MAY 20, 2020
I was relaxing watching a rock concert whilst self-isolating. It made me realise the way it was. 60,000 people sweating next to each other at an open venue, mingling each others juices together. Ah, those were the days. Nothing is going to be the same. My life was concerts, theatre, … The post Nothing is going to be the same appeared first on Chris Skinner's blog.
PYMNTS
MAY 20, 2020
Is now the prime time for blockchain ? As COVID-19 has disrupted supply chains worldwide, Brian Behlendorf , executive director of Hyperledger , told Karen Webster that the pandemic has spurred a shift in thinking about new use cases for permissioned blockchains. Increasingly, firms seek accountability and visibility into suppliers, vendors and transactions in real time.
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Chris Skinner
MAY 20, 2020
Things we’re reading today include … Coronavirus: World Bank warns 60m at risk of ‘extreme poverty’ Fiserv’s First Data pays $40 million to settle FTC charges it aided merchants’ fraud Boom for payments companies as crisis forces shoppers online Covid-19 a ‘wake-up call’ to build fairer society, says billionaire JP … The post Things worth reading: 20th May 2020 appeared first on Chris Skinner's blog.
PYMNTS
MAY 20, 2020
Shopify , an eCommerce company, hosted its first virtual event for members of its global community, the Canadian firm announced Wednesday (May 20). Dubbed “Reunite,” it gave attendees a glimpse into updates and new products designed to help entrepreneurs boost profits. “This is a difficult time to be an entrepreneur — the retail landscape is shifting under our feet, and the old way of doing things no longer works,” Shopify said in a statement.
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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
Chris Skinner
MAY 20, 2020
Things we’re reading today include … Bank of England paves way for negative interest rates Britain sells bonds with minus rates Top 1% of British earners get 17% of nation’s income Matalan founder suing PwC for ‘ineffective tax avoidance advice’ Crypto hedge funds struggle to rebound from ‘bloodbath’ Mastercard to … The post Things worth reading: 21st May 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.
Abrigo
MAY 20, 2020
FinCEN issued an advisory on May 18, 2020 to alert financial institutions to medical scams related to the COVID-19 pandemic as well as new SAR key terms for reporting these scams. FinCEN reminds financial institutions that “detecting, preventing, and reporting COVID-19 scams and illicit activity is critical to our national security.” While this advisory is for medical-related scams, criminals may use similar methods for other COVID-19 related scams similar to those used before the pandemic.
PYMNTS
MAY 20, 2020
San Francisco-based Tonal — which offers a $2,995 exercise station with subscription-based workouts — is looking for more funding as the COVID-19 crisis upends the world of exercise. As PYMNTS has reported , the pandemic has created new opportunities for the exercise equipment industry. According to a Bloomberg report , Tonal is in talks with investors for funding that would value the company at $250 million or more.
Abrigo
MAY 20, 2020
Key Takeaways Hackers are attacking personal DNS networks inside homes. The World Health Organization has been a big target by hackers. There are steps businesses and individuals can take to protect their networks. . Hackers can infiltrate people’s home networks through their routers using an attack called DNS Hijacking. This type of attack changes the router’s DNS settings to display malicious webpages chosen by the attacker.
PYMNTS
MAY 20, 2020
Coca-Cola CEO James Quincey said he is not anticipating a fast economic rebound now that the world is reopening for business. It is more likely the economy’s recovery post-pandemic will be more of a U- or “extended U”-shape, not a “V-shape” with a quick bounce back to normal, he told CNBC on Wednesday (May 20). “The economic impact of the lockdown is just starting to begin,” Quincey said, and everyone will “have to recognize that coming after this virus crisis will be the economic impact and han
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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
South State Correspondent
MAY 20, 2020
During the last ten years of economic expansion, prudent bankers were planning for the next downturn. Everyone knew that the economic expansion would end, but no one could be sure when or how. Smart bankers managed their business by accepting that all expansions do eventually reverse. None of us can predict the future, but enterprising bankers were conducting business to craft better results for their banks by understanding that an economic pivot would come.
PYMNTS
MAY 20, 2020
Target reported on Wednesday (May 20) that it had a very busy first quarter as consumers flocked to its website to stock up in preparation for the pandemic. But like Walmart, which reported strong numbers on Tuesday, Target also paid a high price for its spiking growth. Operating expenses increased sharply and sales of higher-margin items like apparel declined.
Payments Source
MAY 20, 2020
As many countries and U.S. states now begin to lift stay-at-home orders, fraudsters too are being unleashed to return to familiar targets such as bank branches, ATMs and retail stores.
PYMNTS
MAY 20, 2020
People who travel to other states during the COVID-19 pandemic are not alone in facing quarantine. Manny Chirico, the CEO of PVH , one of the largest apparel companies in the world, said customer returns will be quarantined for a few days. “We’ve closed our fitting rooms for now, and we’ve extended our return policy and we’ve made it more generous,” Chirico told CNBC’s “Squawk on the Street” on Wednesday (May 20).
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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.
Payments Source
MAY 20, 2020
The challenge posed by digital-only remittance services has prompted a rapid change at MoneyGram.
PYMNTS
MAY 20, 2020
The European Central Bank (ECB) is the European Union’s foremost regulatory body. It also works to ensure that financial products and services can be distributed as smoothly and safely as possible. Accomplishing this task poses a unique set of challenges, however, particularly when it comes to real-time payments. The 27 EU member states have their own financial systems, and many have also implemented their own domestic real-time payments rails.
Payments Source
MAY 20, 2020
A transparent, decentralized ledger will speed up payments while mitigating the inevitable next round of federal mismanagement, says Polyient Labs' Jeff Hinkle.
PYMNTS
MAY 20, 2020
Consumers are spending online instead of making potentially risky visits to physical stores, and they are also paying for purchases in different ways. The use of payment methods such as buy now, pay later (BNPL) , for instance, are on the uptick amid the pandemic, as shoppers seek affordable ways to purchase essential goods. And in eCommerce, digital coupons are growing right along with the crisis-driven shift to online shopping.
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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.
Bobsguide
MAY 20, 2020
B2B payments may finally see widescale innovation according to some market participants, with both Visa and Mastercard bolstering their business payments services this month.
PYMNTS
MAY 20, 2020
For merchants and financial institutions (FIs), the “new normal” of commerce — done increasingly online — means that battling fraud is a bit like feeling an elephant. You know the parable: Several blind men touch an elephant and, based on the trunk, or the tusk, or the leg they’ve felt, they describe an animal that is, well, way off the mark. As bad guys wrangle account details, cobble together synthetic identities and conduct account takeover attacks with ferocity, the old rules-based systems,
Payments Source
MAY 20, 2020
Payment infrastructure platform provider GoCardless has signed cloud-based VOIP technology provider 8X8 for recurring bills, with a goal of speeding invoice payments.
PYMNTS
MAY 20, 2020
To help real estate investors contend with the increasingly complicated accounting and compliance work particular to real estate, Avignon Capital , a European firm, has rolled out a new in-house corporate accounting offering. The new service will cover many services with the inclusion of dividend resolutions, cash flow management, risk analysis and joint venture accounting, according to an announcement.
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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.
Payments Source
MAY 20, 2020
To get a better handle on the coronavirus-driven boom in Latin American e-commerce, cross-border processors are ramping up digital alternatives for shoppers who pay cash for online purchases.
PYMNTS
MAY 20, 2020
In its fiscal 2020 Q1, streaming platform Netflix reported adding nearly 16 million new subscribers and blasting net income into orbit at $709 million, more than double its Q1 2019 performance. Evidently, this can happen when the world goes on lockdown for an entire season. Analysts project 47 million new streaming subscriptions by the end of this year.
FluentBanking
MAY 20, 2020
Corporate Finance Institute (CFI) is a well-reputed financial certificate providing organization. It is one of the leading course provider of financial modeling, valuation and credit analysis. All the courses by CFI provided through online. So, anyone can easily enroll in any course offered by CFI and can have the opportunity to have his certification from Canada.
PYMNTS
MAY 20, 2020
A devastating small business survey on one hand, and a possible link to social commerce on the other. That was Facebook’s contribution to the pandemic crisis yesterday as the social media giant rolled out two new shopping services for small business — Facebook Shops and Instagram Shop. Although the company’s survey with the Small Business Roundtable was in motion before the pandemic, its timing was prescient and its results were dramatic.
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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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