PYMNTS
OCTOBER 19, 2020
Consumers across all age demographics have radically realigned their lives over the last eight months. To say that we aren’t quite the same people we were a year ago might seem overly dramatic. Still, the 2020 edition of the PYMNTS | Visa How We Will Pay consumer survey of a national sample of roughly 10,000 U.S. consumers confirmes that consumers, in fact, have changed.
Perficient
OCTOBER 19, 2020
We have been talking about digital transformation for over 10 years, and the financial industry has been leading the change, albeit at its own pace. This year COVID-19 has been a major disrupter, immutably altering the traditional brick and mortar channel. Financial institutions must begin now to prepare a solid 2-year plan to manage this transformation; otherwise, they will lose ground to new competitors entering their footprint.
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Accenture
OCTOBER 19, 2020
In my previous post in this series on the journey to cloud, I looked at the guiding principles that can help your organisation navigate its route. With those in place, the next step is to select your cloud service providers. I’ve made that the focus of this latest post. When adopting cloud, it’s important to…. The post Your journey to cloud: How to select your provider(s) appeared first on Accenture Banking Blog.
Perficient
OCTOBER 19, 2020
I was onsite at a client’s office on September 29, 2008, when the stock market began to crash. I had just helped the client go live with a global implementation of Kyriba, industry-leading treasury management software, and observed first-hand how the client could utilize the solution to take control of funds and make critical, real-time decisions to help mitigate risks amid a turbulent market.
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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
OCTOBER 19, 2020
Shopping is increasingly done remotely, but when it comes to luxury goods, appealing to high-end consumers requires personalized digital connections and a memorable experience, Zornitza Stefanova , founder and CEO of global luxury-shopping platform BSPK told PYMNTS. Whether that comes in the form of video, live chats or being on a first-name basis with a personal retail adviser, it’s all about personalization and the relationship. .
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
OCTOBER 19, 2020
American Express is working with Coupa on a new partnership to use virtual cards for Coupa's B2B solution, a press release says. Coupa Pay, the Coupa B2B solution, will be available for customers of AmEx's virtual cards, in a move meant to streamline the old payment processes which the release calls "outdated, complex, and inefficient.". The move toward virtual cards comes with a rising demand for work-from-home solutions, more popular now during the pandemic.
Accenture
OCTOBER 19, 2020
This series of blogs looks at the future of banking in Growth Markets in a post-COVID-19 world. We saw in the previous blogs that every bank can be mapped on our DMI-CRI matrix, with each falling into one of three segments: Disrupt for Growth Digitise for Efficiency and Agility Restructure to Survive In this blog,…. The post Digitise for Efficiency and Agility appeared first on Accenture Banking Blog.
PYMNTS
OCTOBER 19, 2020
Brazilian bank accounts are being hit by a new malware, called Vizom by IBM, that makes use of familiar overlay attack tactics to hijack devices in real time, according to a report by ZDNet. Disguising itself as a commonly used video conferencing tool, Vizom spreads through phishing campaigns. Once it hits a Windows PC, the malware hijacks the AppData directory to force the loading of malicious DLLs.
Payments Dive
OCTOBER 19, 2020
Key stakeholders in the online payments ecosystem are rethinking the way payments are processed, with a renewed emphasis on linking digital identity back to the human behind the transaction in advance of the card network's authorization stage which we refer to as pre-authorization.
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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
OCTOBER 19, 2020
Although the COVID era continues to have an outsized impact on small businesses, frontline lending experts say SMBs have recently begun to catch a break when it comes to getting loans through FinTechs and other non-bank lenders. Ken So , founder and CEO of Flowcast , told PYMNTS that today’s $3 trillion worldwide SMB “credit gap” is narrowing because the criteria to secure loans are changing, and increasingly, embracing alternative data sources.
Abrigo
OCTOBER 19, 2020
Honor BSA/AML Professionals on October 26th Professionals across the nation are encouraged to celebrate National Financial Crime Fighter Day. . Share your story! Read More. History of BSA/AML Day Learn why BSA/AML Day was created and the significance of the day. How to Celebrate Find ways to honor and celebrate BSA/AML professionals. National Day Calendar Get more resources on this nationally recognized day.
PYMNTS
OCTOBER 19, 2020
Snaps is teaming up with Instagram as the social media giant gears up for the holiday shopping season by sprucing up its commercial appeal to the major brands. New York-based Snaps announced on Monday (Oct. 19) that it has integrated Messenger API support for Instagram in its conversational automation platform. The addition will further enable brands to have one-on-one conversations with customers, ensuring that online shoppers “can get always-on, personalized and intelligent responses about pro
Payments Dive
OCTOBER 19, 2020
In this eBook, you will learn why synthetic identities can be difficult to detect.
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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
OCTOBER 19, 2020
The shift away from legacy payments processes was well underway before the pandemic, but COVID-19 is creating fresh urgency to move to cloud-based digitized systems, David Disque , president at CSI (Corporate Spending Innovations) told Karen Webster in a recent conversation. Companies are increasingly automating keying in invoices, printing paper checks and other formerly manual tasks as a means of survival as employees work from home.
Bobsguide
OCTOBER 19, 2020
With the Securities Financing Transactions Regulation (SFTR) for the buyside now live, reconciliation issues linger from July’s implementation date. “People have been getting generally very good matching rates on the primary matching for SFTR, but there’s lots of work to move on.
PYMNTS
OCTOBER 19, 2020
Federal Reserve Board Chair Jerome Powell sounded a cautionary note on Monday (Oct. 19) on the bank’s potential rollout of a digital currency. Powell warned of potential downsides to the launch of a digital currency that need to be considered, arguing that the first priority should be to “get it right than to be the first,” Reuters reported. The Fed chief made his comments as part of a panel discussion on digital currencies hosted by the International Monetary Fund (IMF).
Payments Source
OCTOBER 19, 2020
Other central banks have considered phasing out cash as they explore digital currencies. Should the idea take hold in the U.S., Federal Reserve Chairman Jerome Powell said it would not replace the physical dollar.
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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
OCTOBER 19, 2020
Paya , the latest FinTech to the join the ranks of publicly-traded companies, made its market debut Monday (Oct. 19). Shares of the Atlanta-based payment processor had risen by nearly 10 percent to $12.50 on the Nasdaq Stock Market shortly before Wall Street's 4 p.m. ET close. The launch follows the vote Friday by shareholders of a special purpose acquisition company, FinTech Acquisition Corp.
Payments Source
OCTOBER 19, 2020
Visa on Monday made an investment in Global Processing Services, which powers the payment rails for several challenger banks and fintechs. It's similar to a January investment Mastercard made in Marqeta, an open API card issuing and processing platform.
PYMNTS
OCTOBER 19, 2020
Japan is teaming up with the U.S. and Europe to develop tough new regulations to take on big tech, according to a Reuters report on Monday (Oct. 19). Kazuyuki Furuya, new chairman of Japan’s Fair Trade Commission (FTC), said Tokyo could launch an investigation on any big deals or collaborations with Fitbit fitness tracker maker. “If the size of any merger or business-tie up is big, we can launch an anti-monopoly investigation into the buyer’s process of acquiring a startup (like Fitbit),” Furuya
BankBazaar
OCTOBER 19, 2020
Aspiring to attain financial independence but unsure how to go about it? These tips are perfect for you! Financial independence is definitely more than a buzzword. In today’s money-driven world, it is a significant aspect of any individual’s freedom, be it man or woman. However, it is easier said than done. Financial independence is earned, one has to sow the seeds to experience it for real, and that’s just what these tips will help you do.
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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
OCTOBER 19, 2020
Google Cloud is aiming to innovate the mortgage industry with its new artificial intelligence (AI) tool called Lending DocAI. Sudheera Vanguri , product manager lead at Google, said in a b log post on Monday (Oct. 19) that the mortgage industry is just one of many verticals being transformed by AI. “In this industry, borrowers and lenders have high expectations; they want a mortgage document processing solution catered to improving operational efficiency, while ensuring speed and data accuracy.
Payments Source
OCTOBER 19, 2020
Citigroup is now the third, and largest, U.S. financial institution to offer the Mastercard True Name feature, which lets customers use their preferred name, rather than their legal name, on credit and debit cards. The cards are targeted specifically for transgender and nonbinary people, who often face outsized financial hardship.
PYMNTS
OCTOBER 19, 2020
Entrust , an identities, payments and data protection firm based in Minneapolis, on Monday (Oct. 19) announced that its Sigma Instant Desktop Issuance product will set “the standard for simple, secure and smart instant-ID solutions across enterprise, healthcare, government, higher education and financial institutions (FIs)." According to a press release , Sigma provides “a secure, cloud-based, direct-to-card ID desktop issuance solution.”.
Payments Source
OCTOBER 19, 2020
Synthetic data represents a direct one-to-one transformation of the original data that reveals true insights into consumer spending, says Facteus' Lorn Davis.
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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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