Payments Dive
JULY 17, 2020
Public transit systems are speeding up their efforts to promote contactless travel as the COVID-19 pandemic has devastated ridership and revenue on many of these systems.
Perficient
JULY 17, 2020
Last month, I finished teaching my MBA Digital Strategy course to 11 of my colleagues. Over 13 weeks, they worked through a model of digital strategy, found new connections, planned some full scale campaigns, and enjoyed hanging out with each other. Most importantly, they focused on self-improvement in addition to meeting the needs of our clients and the demands of their personal lives — especially during the time of COVID.
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PYMNTS
JULY 17, 2020
Transit system operators were already thinking about making at least a partial switch to contactless payments long before a global pandemic disrupted any and every element of how people moved between Point A and Point B. Mary Kay Bowman , Visa ’s head of seller solutions, told Karen Webster in a recent conversation that some operators had contactless payments already partially available in segments of the public transportation system, while others had it earmarked for a project several years in
Perficient
JULY 17, 2020
It is no secret that the key to marketing and sales alignment is a solid technical foundation and internal understanding of how your systems will communicate. In fact, a Forbes article noted, “According to Salesforce (registration required), 67% of marketing leaders rely on marketing automation and 21% plan to implement a new marketing automation platform in the year ahead.”.
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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
JULY 17, 2020
“As consumer and business digital adoption has catapulted over the last 12 weeks, when it comes to payments, there are certain status quos we will no longer accept.”. Modernizing payments is work that never ends, but the end game is a world of connected commerce and consumer preference. “For disbursements specifically, the opportunity is also for a more modern solution,” said Drew Edwards , CEO at Ingo Money.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
JULY 17, 2020
“Digital transformation is inevitable, and the companies that can protect the entire customer journey while delivering exceptional experiences will have the advantage.”. As transaction volumes soared and millions were onboarded remotely during the lockdowns, cybercriminals had a field day. And they still are having one. Financial institutions and merchants that are hypervigilant with security will be rewarded with loyalty.
Bobsguide
JULY 17, 2020
The global economy has greatly reshaped since last March, urging both consumers and businesses to adjust their behaviour, processes and operations to a new reality.
PYMNTS
JULY 17, 2020
Is it really necessary to train a personal grocery shopper how to pick a good banana? It’s a question that Nate D’Anna , serial entrepreneur and founder of personal shopping platform Dumpling , asked rhetorically when recounting his days as an Instacart shopper, an experience that he said he makes all of Dumpling’s team members also experience firsthand.
Bobsguide
JULY 17, 2020
Confinement measures have led businesses and individuals to turn to online systems – and developed a whole new green field for criminal activities. As banks had to re-think and re-organise a great part of their processes with fewer human resources, monitoring suspicious transactions now.
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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
JULY 17, 2020
It’s the end of the work week, and the PYMNTS Weekender is here to make sure you didn’t miss anything with the latest in payments and commerce news. We have deep dives into the cash flow gaps of small and medium-sized businesses (SMBs), transit payments and a disaster loan program. Top News. SBA: EIDL Emergency Grant Program Runs Out Of Money . The U.S.
Payments Source
JULY 17, 2020
The coronavirus pandemic has cast a shadow over the use of cash, which is often perceived as dirty because it frequently changes hands and is almost never washed.
PYMNTS
JULY 17, 2020
The pandemic and the resulting digitization of many consumers’ lives didn’t create the digital transformation in financial services; that was already underway. But it has accelerated the process dramatically and across the board — and is in some sense leveling the playing field, Ondot Systems CEO and President Vaduvur Bharghavan (VB) told Karen Webster in a recent fireside chat.
TheGuardian
JULY 17, 2020
Guardian Money takes on the case of a woman tricked into moving her savings into the wrong account Sylvia Wilson* is crying. The grandmother is recalling the moment earlier this year when she realised scammers had stolen her life savings: more than £300,000. “I went to the estate agents to pick up the keys for my new flat. And it turned out they didn’t know anything about it.
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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
JULY 17, 2020
The beleaguered U.S. Postal Service might be about to make eCommerce shipping woes even worse. According to several sources including the EcommerceBytes blog, the USPS is developing a new business plan focused on cost cutting and economic efficiency, and cuts are rumored that could delay mail and package delivery. According to the blog , there is reportedly a memo circulating within the USPS that proposes eliminating all overtime.
ATM Marketplace
JULY 17, 2020
Sharing information and ideas may be just the way to help transition from our old normal to the new way of working and the answer to keeping our customers, staff and the world safe.
PYMNTS
JULY 17, 2020
Salesforce CEO Mark Benioff wants to see face masks become a universal part of American life — in the same way seatbelts are — to help beat the coronavirus, he said in a talk with CNN Business. His comments came as a growing number of prominent chains and businesses are adopting mandatory mask policies to help slow the spread of the coronavirus. Walmart did so on Wednesday (July 15), becoming the largest retailer in the U.S. to do so thus far.
BankInovation
JULY 17, 2020
GravityAI, a startup that offers a marketplace for data science solutions, moved out of private beta last week. Founder Daniel Huss said the company, which was founded in 2018, already has two paying clients and three others piloting the marketplace. “We are an app store for data science solutions,” Huss said. “Our technology wraps [data […].
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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
JULY 17, 2020
Even with a rise in COVID-19 cases in a number of states, Costco intends to open five new stores prior to September’s close, in addition to two delivery facilities. The new stores will be in Cherry Hill, New Jersey; Bismarck, North Dakota; Saratoga Springs, Utah; Surprise, Arizona and Idaho Falls, Idaho, Acorns reported. Per the report, Morningstar Equity Analyst Zain Akbari said that a number of the new Costco stores were likely under construction at the time that COVID-19 limitations became mo
Payments Source
JULY 17, 2020
Rolling out digital strategies now that enable creativity and innovation will establish a reliable foundation to prepare retailers to best meet their customer needs during whatever phase comes next, says Mobiquity's Sree Singaraju.
PYMNTS
JULY 17, 2020
It will now be a lot easier for schools, hospitals and social service organizations to access funds using the Main Street Lending Program. The initiative, crafted by the Federal Reserve Board , is designed to provide loans to businesses to help them cope with the financial stresses of the COVID-19. It was funded with $75 billion from the CARES Act. Based on feedback from the public, the minimum employment threshold for nonprofits was lowered to 10 from 50, the limit on donation-based funding was
Payments Source
JULY 17, 2020
One of the many fraud risks coronavirus triggered is criminals leveraging stolen personal data to open bogus accounts, along with siphoning off credit card rewards, loyalty points and miles from consumers idled during pandemic-related lockdowns.
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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
JULY 17, 2020
The pandemic has had a particularly disruptive effect on the world’s children with tele-education now the norm in the U.S. and across the globe. But it’s not only the rise of online classrooms that is changing the way the youngest generation lives. Although parents are largely still working from home, their need for childcare remains intact — and with many childcare centers still unable to fully open due to social distancing requirements, this industry has faced its own unique challe
Payments Source
JULY 17, 2020
German Finance Minister Olaf Scholz was aware of potential market manipulation at Wirecard AG almost a year and a half before the company collapsed, putting pressure on a key figure in Angela Merkel’s government.
PYMNTS
JULY 17, 2020
Consumers and retailers have become more wary of handling physical cash during the COVID-19 pandemic, spurring some to turn to mobile payment apps instead as a safer, contactless alternative. Fraudsters are eager to take advantage of green app users who may be unfamiliar with the tools to scam them out of their funds, however. Payment platforms must therefore be vigilant in protecting their growing customer bases.
American Banker
JULY 17, 2020
Treasury Secretary Steven Mnuchin did not define "small," but advocates have been urging Congress to convert all Paycheck Protection Program loans of less than $150,000 into grants.
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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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