Chris Skinner
JULY 9, 2020
In surfing this week, I found a great article on my friend Amit Goel‘s website GoMedici.com. The company has just completed a deep dive into the world of challenger banks or, as they term them, neobanks. The time for neobanks is now. Here’s their summary of thinking: Neobanking 2.0: Global … The post Neobanks: are they really challenging?
Perficient
JULY 9, 2020
Shipping address is a very important data point in online shopping, which is why improving the shopping cart experience with an address autocomplete feature is becoming more common on ecommerce websites. Adding the Google Places Autocomplete API to your online store’s checkout workflow can increase conversion rates, decrease abandoned shopping carts, and result in 20% time savings and error reduction on mobile.
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Chris Skinner
JULY 9, 2020
Things we’re reading today include … UK regulator toughens rules on payment companies after Wirecard collapse Europeans quibble about long trading hours: the finance edition Some economies are bouncing back. But recoveries can easily go wrong Barclays bosses wrote Amanda Staveley off as ‘dolly bird’, court told How mafia-backed bonds … The post Things worth reading: 10th July 2020 appeared first on Chris Skinner's blog.
Perficient
JULY 9, 2020
The work we do each day is only part of the responsibility we take on. As a global company, the need for community and connection is nurtured through shared vales among colleagues. Perficient colleagues are leaders in their communities and go above and beyond to do what’s right in every situation, even when no one is watching. (Integrity is actually one of our leading Values!
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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 9, 2020
Banks have been facing a concerning rise in account takeover (ATO) attacks targeting their customers, with financial institutions (FIs) losses due to such schemes rising 72 percent from 2018 to 2019. Fraudsters have only upped their efforts during the pandemic, with phishing attacks alone increasing 667 percent between late February and late March. The July FI Fraud Decisioning Playbook examines how FIs are working to better detect and defend against ATOs.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
JULY 9, 2020
Accrualify , which works in cloud-based solutions for mid- and enterprise-level companies, is launching a new corporate card in partnership with Visa , according to a press release. The intent of the card is to boost options for spend control for corporate finance teams. The card will allow companies to set spending limits, category and merchant restrictions and use frequency.
Payments Source
JULY 9, 2020
Microsoft has boosted its role in the digital payments migration through a series of ventures, using its cloud computing platform to support merchant upgrades and real-time processing.
PYMNTS
JULY 9, 2020
In a bid toward normality, states are reopening. No surprise, after months of lockdown: We all want to get something to eat. And we’d like to be safe when we get something to eat. The great digital shift is in place, of course. PYMNTS research shows that during the pandemic, dining habits have shifted, with 35.3 percent reporting dining less at quick-service restaurants (QSRs) and 35.9 percent going to sit-down restaurants less often than in pre-pandemic days.
Payments Source
JULY 9, 2020
As the age of clocking in and out of the office gives way to the gig economy and remote employment opportunities around the world, so changes the expectations the current workforce has around the way they will be paid.
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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 9, 2020
In commerce, whether across the B2C or B2B landscape, speed matters. As detailed in the latest Cross-Border Merchant Friction Index , done in partnership between FastSpring and PYMNTS, it may be easier than ever to find goods and services online – but the process of paying for them could be less than optimal. In an interview with PYMNTS, Brian McTeague , vice president at FastSpring, said that transacting across borders can be slow and frustrating.
BankDeals
JULY 9, 2020
The new savings account is from the fintech company, Affirm, which has partnered with Cross River Bank to offer the savings account through Affirm’s mobile app.
PYMNTS
JULY 9, 2020
Call it the Amazonification of healthcare. In an interview with Karen Webster, Truepill Co-Founder and President Sid Viswanathan and CEO Umar Afridi said that the staid pharmaceutical industry is due for a jolt from technology (specifically application programming interfaces or APIs), and a direct-to-consumer (DTC) focus. This week, Truepill, a startup, said it had raised $25 million to expand its telehealth offerings.
SWBC's LenderHub
JULY 9, 2020
It goes without saying that the first quarter of 2020 has been tumultuous across the board. While it can be difficult to keep up, having a solid pulse on the auto finance market can help increase your financial institution’s auto loan portfolio. Experian recently released their State of the Automotive Finance Market report from Q1 of 2020. I'd like to share some highlights of the report with you and offer insight for your financial institution on the state of the auto finance market going forwar
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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 9, 2020
Oakland, California-based issuer processor Marqeta , which is backed by Goldman Sachs , is preparing for an initial public offering (IPO) and seeking out investment banks for advice, Reuters reported. Marqeta’s business allows companies to issue credit and debit cards to their staff, and the pandemic has given it a huge boost as people everywhere rely more on online shopping and food delivery, Reuters reported.
Bobsguide
JULY 9, 2020
NAV reporting has long been an important part of any daily, weekly or monthly function. However, the volatility of markets during the past few months has seen firms struggling to keep up with the demands of creating timely and accurate NAV calculations. With the level of uncertainty the world is.
PYMNTS
JULY 9, 2020
Movie-theater giant AMC Entertainment Holdings’ reported deal to avoid bankruptcy is running into a roadblock as some creditors oppose the deal , according to Bloomberg News. Under the terms of the proposal, the 100-year-old Kansas-based company would allow Silver Lake Group LLC, the Menlo Park, California private equity company, to provide $200 million of new money while subordinated bondholders exchange their securities at a discount for new second-lien notes, the news service reported.
Jack Henry
JULY 9, 2020
Although the ability to chart a path to the future seems murky at best right now, there is optimism for the future of technology for financial institutions (FIs). Specific timing may be a moving target but plans for innovation remain key priorities, according to a recent Technology Capabilities Assessment by Jack Henry & Associates. Surveying nearly 175 bank and credit union representatives between mid-January and mid-April of this year, the second annual Technology Capabilities Assessment p
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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 9, 2020
The United Kingdom’s financial regulator has toughened rules on payment companies less than two weeks after Wirecard AG’s collapse locked millions of customers out of their accounts, the Financial Times reported. The Financial Conduct Authority ( FCA ) said Thursday (July 9) it has introduced stronger measures to protect the users of payment cards and digital apps. .
Payments Source
JULY 9, 2020
To ensure safe, secure transactions that are protected against fraud, retailers moving to EMV have been encouraged by their POS partners to replace or upgrade the network infrastructure, says TNS' Brian DuCharme.
PYMNTS
JULY 9, 2020
The world is tentatively reopening industry by industry, but some are still dealing with broad impacts from COVID-19 that could potentially shift the way they operate long term. The real estate industry, for example, saw increased use of online and mobile channels by both buyers and sellers, something that is likely to continue well into the future.
ATM Marketplace
JULY 9, 2020
Join this webinar to learn how technology can help you create friction-less journeys that expand the consumer relationship, while increasing operational efficiencies and employee satisfaction.
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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 9, 2020
RecVue, which works in order-to-cash automation, has entered into a partnership with Effectus Group, a consulting firm working with technical accounting practices, to help companies access the best order-for-cash services and get money from B2B payments flowing more smoothly. A press release Thursday (July 9) says Effectus Group , which does consulting work for a myriad of industries including technical accounting, IPO services and financial operations, can aid companies on revenue services and
BankInovation
JULY 9, 2020
Big banks are taking inspiration from government intelligence agencies when it comes to combating cybersecurity threats as command centers become the standard, according to Bill Stewart, partner at fintech consultancy Capco. “If you’re a large [financial institution], for sure you have it. It’s getting to the point where more of the Fortune 500s than not […].
PYMNTS
JULY 9, 2020
Authorities in China have confiscated bitcoin, ether and tether worth more than $15 million and luxury cars from those who allegedly ran a purported cryptocurrency scheme, CoinDesk reported. Police in a Chinese city had reportedly taken 10 suspects into custody. The case’s purported victim had become a part of a Telegram group that had marketed a blockchain smart contract that could allegedly make a digital currency called Huobi Tokens, the digital currency of the Huobi exchange.
Payments Source
JULY 9, 2020
In a simple job posting and reference to a subscription platform, Twitter drew attention to how it could use its platform to embed in numerous use cases that tie social tools, recurring revenue and digital commerce.
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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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