PYMNTS
OCTOBER 14, 2020
When the chips are down, consumers love and trust their debit cards. Among clear COVID-era trends is the embrace of debit for managing and mastering new realities. “Debit cards remain the payment method of choice among U.S. consumers, regardless of whether they are shopping online or in stores, according to recent reports,” notes PYMNTS October Next-Gen Debit Tracker® done in collaboration with PULSE , A Discover Company.
Perficient
OCTOBER 14, 2020
We are excited to be listed by Forrester in its recent report, Now Tech: Azure Service Providers, Q4 2020 — Forrester’s Overview of 41 Azure Service Providers. As the report notes, “Many enterprises continue to struggle with starting and continuing their journeys to the cloud.” The report also notes that service providers can help clients in many ways, including helping provide governance for Azure implementations, aiding with accelerating strategy to achieve results quickly, and bringing in ski
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Accenture
OCTOBER 14, 2020
In the post-COVID world, small- and medium-sized enterprises (SMEs) and larger corporates have much to gain from increased connectivity and straight-through access to supply chains and ecosystems. Banks have a unique opportunity to step up and support their corporate clients’ (especially treasurers’) increasingly complex needs through Open Banking and application programming interfaces (APIs).
Perficient
OCTOBER 14, 2020
Recovery and emerging trends . As organizations begin to think about the recovery phase from the COVID era, businesses that were digitally enabled and able to innovate fared better. Companies that were previously resistant to change were suddenly faced with the choice to accelerate digital innovation or risk their survival. At Twilio’s annual conference Signal 2020, Jeff Lawson, founder and CEO, discussed major trends that helped businesses thrive during what he termed as the “Great Digita
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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 14, 2020
The head of the country’s only licensed and publicly traded cryptocurrency broker says tighter regulation and exponentially higher yields are causing corporate treasury and cash management accounts to seriously consider this alternative asset class. This in the wake of the OCC’s Sept. 21 landmark announcement that allowed national banks and federal savings associations to hold certain crypto assets for the first time.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
OCTOBER 14, 2020
Cambridge Global Payments , a FLEETCOR company working on cross-border payments, has partnered with enterprise blockchain solution Ripple on a cross-border payment solution for B2B customers, according to a press release. Using RippleNet, Ripple's global payment network, the partnership will take advantage of the ripe market for cross-border payments, which a July Juniper Research study said will be worth $35 trillion by 2022, the release stated.
Payments Source
OCTOBER 14, 2020
PayPal has launched a new buy now, pay later (BNPL) product in the U.K. called “Pay in 3” to take on rivals Afterpay, Klarna and others ahead of the winter holiday shopping season.
PYMNTS
OCTOBER 14, 2020
Wells Fargo has fired over 100 employees for allegedly improperly collecting COVID-19 relief funds, according to sources quoted by Bloomberg. The staffers reportedly defrauded the Small Business Administration (SBA) by "making false representations in applying for coronavirus relief funds for themselves," according to Bloomberg. They reportedly applied for Economic Injury Disaster Loan (EIDL) funds in ways deemed fraudulent.
Payments Source
OCTOBER 14, 2020
A shift to online payments and digital technology across the globe occurred at warp speed during the coronavirus pandemic, but that trend doesn't magically solve payments challenges in various markets, nor does it render the fundamentals of customer service less meaningful.
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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 14, 2020
There was already wide speculation before the pandemic about the U.S. economy’s future and how long the good times then underway could last. Ten years of largely uninterrupted growth had experts wondering when the next bump would come. But Greg Lisiewski , PayPal ’s vice president and general manager of consumer credit, told Karen Webster that while lots of people were trying to forecast the economy’s next phase, no one foresaw that a new virus would burn everything to the ground.
Payments Source
OCTOBER 14, 2020
Riding a technology wave that helps attract more customers and generate more revenue sounds appealing enough — but with contactless payments, there isn't always a clear upgrade path for stores that have relied on older terminals.
PYMNTS
OCTOBER 14, 2020
If one were to pick an ideal year to launch a new hospitality business, 2020 would not have been it. The incredible hit to the sector from the global pandemic is both familiar and well documented. But as Nico Barawid , co-founder and CEO of Mexico-based property-sharing platform Casai told Karen Webster recently, markets are sometimes funny places in terms of the “right time” to launch something.
Payments Source
OCTOBER 14, 2020
The buy-in from Apple proves contactless payments are on the rise, but should also act as a warning sign for banks to promptly restrategize if they want to uphold their position in the industry, says Tealium's Heidi Bullock.
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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 14, 2020
MercadoLibre , which operates platforms for buying and selling goods across Central and South America, is eyeing an investment in Brazil next year that would be even bigger than its $716 million investment this year, Bloomberg reported. “We’ve just started planning investments for 2021, and we want them to be higher than this year,” Fernando Yunes , the company's country lead for Brazil, said in a prepared statement, according to Bloomberg.
Bobsguide
OCTOBER 14, 2020
Despite growing risks of cyberattacks and the need to switch to remote working, Financial Market Institutions (FMIs) adapted well to the crisis, according to speakers at Sibos. “FMIs could quickly move to the new mode of working, especially during volatile markets. It all went.
PYMNTS
OCTOBER 14, 2020
The year 2020 was going to be a wild ride for London’s financial services firms even without COVID-19. After all, Brexit was set to move from a theoretical change to a concrete reality, changing the rules for financial services players all over the country as well as for those on the continent. But add a pandemic to the mix and things got tumultuous pretty fast, Plaid U.K.
Payments Source
OCTOBER 14, 2020
Nano Banc's president, Mark Troncale sits down with PaymentsSource's senior editor Kate Fitzgerald to discuss how the fintech decided to be amongst the first wave of small-to-midsize banks adopting The Clearing House's real-time payments solution. So how did it go?
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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 14, 2020
Businesses of all sizes are doing their best to stay on top of changing payment trends and consumer expectations as the pandemic continues to impact how money is moved. These rapidly shifting trends have also caused most firms to become more concerned over the status of their own cash flow — knowing exactly where their incoming and outgoing payments stand at any given moment can be make or break for these entities, especially for small- to medium-sized businesses (SMBs) with less resources on ha
Payments Source
OCTOBER 14, 2020
Better dialogue between banks and authorities coupled with stronger anti-money-laundering measures could help address the suspicious activity report flaws revealed by investigative journalists.
PYMNTS
OCTOBER 14, 2020
The pandemic has forced a fundamental reckoning for businesses large and small. To that end, Ken Gavrity , head of enterprise payments at KeyBank , told Karen Webster that companies must re-examine the most basic operations in order to stay afloat and maybe even thrive – or face existential threats as they mull the great digital shift. And he noted, too, that the “verticalization” of B2B is upon us.
BankInovation
OCTOBER 14, 2020
Automation and improved data governance will be two crucial components of Citigroup’s multiyear modernization of the bank’s infrastructure. Less than a week before the bank’s third-quarter earnings call Tuesday, the OCC and Federal Reserve Board had announced they were fining Citigroup $400 million for “significant ongoing deficiencies” in its risk management systems, a set of […].
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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 14, 2020
Silicon Valley carsharing startup Getaround won a $140 million Series E financing round led by PeopleFund, Getaround announced on Wednesday (Oct. 14). Additional new and existing investors include Reinvent Capital, Menlo Ventures, SoftBank, Braemar Energy Ventures and others. Founded in 2009 by Elliot Kroo, Jessica Scorpio and Sam Zaid, the company gives users the ability to rent their personal vehicles to others for set periods of time. .
BankBazaar
OCTOBER 14, 2020
It’s #GlobalHandwashingDay and it’s never been more important to practise hygiene and opt for contactless. Get started on your contactless journey with these Credit Cards and Personal Loans! While the importance of a #GlobalHandwashingDay couldn’t be stressed enough in these present times, practising hygiene and safety shouldn’t just be restricted to washing your hands regularly.
PYMNTS
OCTOBER 14, 2020
Spend management was the focus of innovation in the commercial card space this week thanks to partnerships and investments in firms aiming to help companies keep track of expenses. This week’s commercial card innovation tracker includes the expansion of an integration between Teletrac Navman and FLEETCOR in addition to an $18 million raise for Spendesk.
CFPB Monitor
OCTOBER 14, 2020
Come January 1, 2021, senior citizens in California will be afforded additional cancellation rights when entering into contracts negotiated or executed away from typical business establishments. AB-2471 , which Governor Newsom signed into law at the end of September 2020, provides greater protections to senior citizens by extending from three to five business days the right of persons 65 years of age and older to cancel certain consumer contracts.
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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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