Chris Skinner
JUNE 18, 2020
I was sitting and thinking that I’ve been a bit negative in my recent posts. I don’t like being negative as I’m an optimist. So I determined that today I must write a cheerful story … whoops! failed. Instead, I woke up to the news that a young man had … The post Robinhood’s sad story, sorry appeared first on Chris Skinner's blog.
Perficient
JUNE 18, 2020
Since its inception back in March of 2017, Perficient became an early adopter of the Amazon Connect platform. Recognized as an Advanced Consulting Partner within the Amazon Partner Network, our development team of cloud contact center specialists quickly leveraged the power of Amazon Connect to deliver robust contact center solutions resulting in exceptional customer experiences.
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Accenture
JUNE 18, 2020
Digital financial services are clearly impacting banks. But they are also forcing central banks and regulators to rethink and restructure their approaches to becoming resilient, adopting new technologies, leveraging data and constructing an agile operating model, all while providing regulatory services. Hence, regulators need to step up to stay relevant in the digital economy.
Perficient
JUNE 18, 2020
Our Custom Development Solutions group has been working to revive our Tech Challenge coding competition culture and ultimately decided why re-invent the wheel? A lot of our client work is focused around application modernization, so why don’t we modernize an old Tech Challenge application? Background. In 2008, Bryan Dougherty, now our General Manager, created the original Tech Challenge.
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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
JUNE 18, 2020
Things we’re reading today include … European Central Bank hands out 1.3 trillion euros in loans Wirecard shares slump over missing €1.9bn To understand the new wave of small investors, look to China The successes of the Fed’s dollar-swap lines Barclays, HSBC and Lloyds among UK banks that had links … The post Things worth reading: 19th June 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
JUNE 18, 2020
Key Takeaways The Paycheck Protection Program (PPP) has been a critical foothold for community financial institutions seeking to obtain and diversify business lending relationships. The key to making the PPP a profitable investment is to deepen these relationships into strong business relationships. Proactive outreach, reimagining the purpose of the branch, and evaluating business lending technology will be critical for PPP lenders and non-PPP lenders post-pandemic.
PYMNTS
JUNE 18, 2020
A new service from FIS , Open Banking Hub, will allow customers to pay for items directly from their bank account, which has the benefit of never making them enter information through a third-party site, a press release says. The service will also allow customers to check their bank accounts during the process. Asif Ramji , chief growth officer at FIS, said that the simplicity was a draw for customers.
Payments Dive
JUNE 18, 2020
Alan Earl Fryrear, co-founder and chairman of Networld Media Group, died at the age of 81 on June 10, 2020.
PYMNTS
JUNE 18, 2020
There are now more than 100 million skipped payments on student loans, auto loans and other kinds of debt, according to a report by The Wall Street Journal. At 106 million total by the end of May, the number of skipped payments, deferments or other types of relief is now three times what it was in April. Student loans represented the biggest increase in non-payments, with 79 million accounts in some type of relief status, a massive upswing from the 18 million just a month before.
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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
BankBazaar
JUNE 18, 2020
?. He was your first banker, first wealth manager, and first financial advisor. After all, your dad taught you the first thing about money. Say, “Thank you Dad”, this Father’s Day. Explore BankBazaar. The post Thank You, Dad! appeared first on BankBazaar - The Definitive Word on Personal Finance.
PYMNTS
JUNE 18, 2020
Some residents of France who use Western Union online services to wire money to friends and family in certain African countries will be offered free one-month, 1,000-euro life and disability policies benefiting those recipients under a pilot program, according to a press release. The Transfer Protect service offered by Western Union and French insurer AXA includes numerous features aimed at benefitting immigrant workers who send remittances to family members and friends in their origin countries
Bobsguide
JUNE 18, 2020
Questions remain over concentration risk amongst cloud providers, following a recent European Securities and Markets Authority (Esma) consultation on cloud outsourcing guidelines. “I think bringing in some of these guidelines will make people understand and think about: ‘I need to.
PYMNTS
JUNE 18, 2020
Pandemics and economic slumps put business models to the test — and the most flexible business models may stand the best chance of rebounding most quickly from such headwinds. To that end, ride-hailing giant Uber Technologies is branching out into software — specifically, software as a service (SaaS). According to reports Wednesday (June 17), the company is offering its software — the programming and analytics that underpin its core ride-hailing unit — to a number of outside entities.
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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.
Bobsguide
JUNE 18, 2020
In March, market disruption caused by the pandemic followed a drop in the price of cryptocurrencies - including Bitcoin, which lost half of its value in a day, according to a Coinbase report. Despite this, Tether CTO Paolo Ardoino saw an increase in investment in its digital asset from retail.
PYMNTS
JUNE 18, 2020
Albertsons Cos., the nation’s second-largest supermarket chain, is preparing for an initial public offering (IPO), according to a U.S. Securities and Exchange Commission (SEC) filing. Founded 80 years ago, the Boise, Idaho, chain has been owned for the past 14 years by private equity firm Cerberus Capital Management, according to Supermarket News , which first reported the IPO in March.
Bobsguide
JUNE 18, 2020
In the digital age, banks are looking for ways to remain relevant and distinctive. Experts believe that banks who maintain high levels of customer satisfaction will eventually conquer market share. This means that it is crucial for financial institutions to deeply understand and fully fulfil the.
PYMNTS
JUNE 18, 2020
The pandemic is having monumental impacts on restaurants’ operations and interactions with potential diners, pushing to the forefront services that offer quick and seamless online ordering tools to reach customers stuck in their homes. It is also shedding light on just how digital the restaurant industry has become, showcasing the importance of online reviews and robust social media presences as well as swift digital delivery and pickup options.
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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.
Jack Henry
JUNE 18, 2020
At the beginning of 2020, no one could have predicted many of the unconventional, yet common phrases being uttered today: My daily commute time has been reduced from 30 minutes to 30 seconds. After my at-home video conference for work, I need to grade my kid’s reading homework and provide them with constructive feedback, as well as prepare them lunch.
PYMNTS
JUNE 18, 2020
The advance of digital payments in Latin America over the last two decades has been slow when measured against other parts of the globe. Visa ’s Senior Vice President of Products and Innovation for Latin America and the Caribbean Ruben Salazar told Karen Webster in a recent digital discussion that the sluggishness is a reality created by the fact that until very recently, Latin America’s ability to bring consumers into the digital fold was dependent on merchants’ enthusiasm for getting hardwired
Payments Source
JUNE 18, 2020
As the coronavirus pandemic took hold in March and the U.K. went into lockdown, many of the country’s e-commerce businesses suddenly found themselves facing a nigh unprecedented level of demand.
PYMNTS
JUNE 18, 2020
Blockchain-based we.trade , which works in open trading, has cut around half of its workforce after it was unable to secure sufficient funding, Global Trade Review reported. On June 11, over a dozen employees working in the company’s commercial- and product-focused operations were told their roles were no longer needed. The cuts come not long after tech giant IBM took a 7 percent stake in we.trade.
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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
JUNE 18, 2020
By adding direct debit from bank accounts as a payment option, YayPay feels it is in a far better position to help the accounts receivable departments of U.S. businesses expand international growth.
PYMNTS
JUNE 18, 2020
In the latest of a string of outages as of the beginning of March, Robinhood Markets Inc. said it has fixed a challenge that led to a “major outage” on its platform Thursday (June 18). The financial technology company is regarded for helping to make trading in vogue with millennials, Reuters reported. “We encountered an issue involving a third-party service, which led to degraded performance on trades and transfers.
TheGuardian
JUNE 18, 2020
Many bank directors received compensation after slavery was made illegal in 1833 The slave trade was abolished in the British Empire in 1807 but it was not until 1833 that the Slavery Abolition Act finally banned the ownership of other human beings. However, 46,000 slave owners continued to benefit financially as the subsequent Slave Compensation Act provided £20m in payments – a sum worth billions in 2020 terms.
PYMNTS
JUNE 18, 2020
KKR, the New York-based global investment firm, signed an agreement to buy the Dutch holiday parks company Roompot Group from PAI Partners, the companies announced Thursday (June 18). Terms were not disclosed, but a report in The Financial Times said the deal was for €1 billion ($1.1 billion). Founded in the Zeeland region of the Netherlands 55 years ago, Roompot is one of the largest holiday parks and campsite operators in Europe.
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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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