Chris Skinner
APRIL 20, 2020
For most of my adult life, we’ve been part of the European Union. The Brexit vote came as a shock, and the unravelling of Britain from Europe for the past four years has been a major stalemate in British life and politics. Now, the whole euro project might come tumbling … The post The future of the Euro (#coronavirus bonds) appeared first on Chris Skinner's blog.
Bank Innovation
APRIL 20, 2020
Melissa Stevens, chief digital officer of the 160-year-old Fifth Third Bank, is using data to advance the bank’s innovation and customer service strategy, one that hinges on being a relationship-based bank. “How many years have we all been holding all the transaction information for you about your life, but we offer you something that has […].
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PYMNTS
APRIL 20, 2020
Arne Sorenson, Marriott International Inc.’s CEO, said the deadly coronavirus pandemic will change the experience of staying in a hotel — at least temporarily — according to a report by Bloomberg. He told Bloomberg Television’s Leadership Live broadcast on Monday (April 20) no one knows when the lodging industry will rebound from impacts of COVID-19.
Bank Innovation
APRIL 20, 2020
The $349 billion Congress set aside for small businesses as part of the Coronavirus Aid, Relief and Economic Security Act ran out on Thursday, and digital lenders are anxiously awaiting the next round of funding to deliver what they say is a better customer experience. “There are still millions of [small and medium sized businesses] […].
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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
APRIL 20, 2020
Things we’re reading today include … Bank of England ‘failing climate’ with Covid-19 stimulus programme CMA letter to Metro Bank on breaches of the Retail Banking Order Businesses Say Big Banks Flouted ‘First Come First Served’ for Aid Are Credit Unions As Safe As Banks Right Now? As Firms Scramble … The post Things worth reading: 21st April 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.
PYMNTS
APRIL 20, 2020
Existential fear outweighs economic anxiety for most consumers, as governments, companies and workers continue to grapple with the ongoing impacts of COVID-19. PYMNTS’ latest consumer poll, fielded on April 11, sampled more than 8,000 U.S. consumers about their thoughts on what life will look like after the pandemic is declared over and the real work of rebuilding entire economies begins.
South State Correspondent
APRIL 20, 2020
Community bankers are busy serving their customers and protecting their balance sheets as we respond to the Coronavirus pandemic and the resulting economic havoc. Just as prudent bankers were strategically planning for the next recession before any signs of this downturn, forward-thinking community bankers will very soon be contemplating their strategy for doing business after the current recession.
PYMNTS
APRIL 20, 2020
Finnish software firm Basware has announced an upgrade of its accounts payable (AP) automation solution to allow increased functionality for invoicing. Basware said its new AP Pro has a new user interface and more advanced options, according to an April 20 press release, which said the updates were made based on feedback to the previous versions. The new tech will accelerate invoice payment and incorporate a new dashboard that will be a “one stop shop” for important accounts payable tasks, letti
Bobsguide
APRIL 20, 2020
Digital identity verification could become the norm in financial services as social distancing halts in-person identification, according to Andersen Cheng, CEO of Nomidio, a cloud-based identity as a service (IDaaS) provider and cybersecurity company Post-Quantum. “This is really a paradigm.
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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
APRIL 20, 2020
Deluxe has a new agreement with Fiserv to provide an updated payment platform, which will allow customers to use the Clover point-of-sale (POS) platform, new online and physical payment options, and gift card options, according to a press release. The new product powered by Fiserv will be called Deluxe Merchant Services. It will extend the existing Deluxe platform and offer an end-to-end payables and receivables solution.
Payments Source
APRIL 20, 2020
With more people sheltering at home and grocery stores limiting access, Domino's is seeing a surge in demand for its pizza — and a need to pay delivery drivers their tips and wages after each shift at a time when the credit card orders outpace the cash on hand at each store.
PYMNTS
APRIL 20, 2020
Australian Small Business & Family Enterprise Ombudsman Kate Carnell is calling for federal legislation mandating that small- to medium-sized businesses (SMBs) be paid in 30 days, according to a LinkedIn post she wrote. She wrote that her office experienced a tide of large companies “using the COVID-19 outbreak as an excuse for poor payment times.”.
Bobsguide
APRIL 20, 2020
The coronavirus pandemic and the lockdown measures are affecting lives nearly everywhere on the planet. Banks are playing a crucial role in how our societies respond and progress through these unprecedented times. As their technology partner, we salute and support the tremendous.
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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
APRIL 20, 2020
Two law researchers say regulators should take the cryptomarket into serious consideration, according to an Oxford Law blog post. Dr. Hadar Jabotinsky and Dr. Roee Sarel considered in the post how investors in crypto should respond to worldwide emergencies, and if the market presents a systematic risk that could possibly affect traditional financial markets.
Matt Wilcox Pro
APRIL 20, 2020
Informing clients helps reduce risk and adds value to the brand. When it comes to finding ways to fill time, sequester-induced boredom is hands-down the mother of invention. No small number of people turn their newfound spare time to activities like gardening, Netflix binging, exercise, yard work, house cleaning, learning a new skill, games, walks, [.
PYMNTS
APRIL 20, 2020
Georgia Gov. Brian Kemp isn’t wasting time when it comes to reopening businesses during the coronavirus pandemic, aiming to reopen many types of retailers by Friday (April 24), according to the Associated Press. Kemp said he wants to reopen hair salons, bowling alleys, tattoo parlors and gyms by Friday. By Monday, movie theaters will be allowed to reopen, and restaurants could be allowed to resume limited dine-in services.
Payments Source
APRIL 20, 2020
Venture capital investment has plummeted in many coronavirus-ravaged economies, but larger, profitable fintech firms with the right digital products might still score funding.
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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
APRIL 20, 2020
Black Friday isn’t until Nov. 27, but clothing retailers, including Nordstrom , J.Crew , Macy’s , Neiman Marcus and others, are offering deep discounts to unload tens of billions of dollars of unsold merchandise as the coronavirus keeps U.S. stores shuttered. The Wall Street Journal reported that retailers are not waiting seven months to off-load the spring and summer collections.
Payments Source
APRIL 20, 2020
Many companies have yet to take advantage of automation when it comes to testing their payment channels, a commonly overlooked but vitally important area, says Paragon Application Systems’ Steve Gilde.
PYMNTS
APRIL 20, 2020
As the economic collateral damage induced by the COVID-19 epidemic has spread far and wide throughout the nation, leaving nearly 20 million Americans newly unemployed, economic anxiety has become endemic. PYMNTS’ Navigating the COVID-19 Pandemic: How the Paycheck-to-Paycheck Economy Is Beginning to Buckle reveals that the consumers who have already been hit hard by the epidemic, economically speaking, are bracing for an even harder future.
Banking Exchange
APRIL 20, 2020
Select Bank & Trust adds branches from Entegra, First Citizens completes purchase of MidCoast, and Evans nears completion of FSB acquisition Management Feature Financial Trends Lines of Business M&A Feature3 Security Cyberfraud/ID Theft AML & Fraud BSA/AML.
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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
APRIL 20, 2020
Fandango Media LLC, the California-based company that sells movie tickets online, has agreed to buy the on-demand video streaming service Vudu Inc. from Walmart. Terms of the deal were not disclosed, TheStreet reported. Vudu, which was acquired by Walmart in 2010 for $100 million, distributes movies and TV shows to internet-enabled devices. . “We will continue to invest in areas where we have the greatest strength and are in the best position to serve our customers today and in the future,
Banking Exchange
APRIL 20, 2020
Research shows a 14.5% increase in the opening of online accounts as bank branches cut back on face-to-face contact The Economy Technology Financial Trends Feature3 Fintech Feature Mobile Online Tech Management.
PYMNTS
APRIL 20, 2020
Progressive Leasing will pay $175 million to settle charges with the Federal Trade Commission (FTC) that its policies were misleading to customers, according to an April 20 release by the FTC. According to the charges, Progressive, which traffics in rent-to-own payment plans in numerous stores around the country, was telling customers that payment plans for the items they bought, like furniture or jewelry, were the same as cash and had no interest.
Banking Exchange
APRIL 20, 2020
The Paycheck Protection Program ran out of funds last week after approving more than 1.6 million applications Compliance/Regulatory Credit Risk Community Banking Business Credit The Economy Compliance Risk Management Feature3 Feature Management.
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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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