Chris Skinner
MARCH 9, 2020
Things we’re reading today include … ‘This is a meltdown’: Tension turns to panic on dramatic day in City Wall Street regulator paves way for home trading as coronavirus spreads Barclays cuts 2020 oil price outlook on price war, virus impact Yes Bank: Founder Rana Kapoor held over alleged money … The post Things worth reading: 10th March 2020 appeared first on Chris Skinner's blog.
Bank Innovation
MARCH 9, 2020
Canadian venture capital firm Portag3 Ventures has appointed Chris O’Neill as partner in an effort to shore up its presence in Silicon Valley. The Toronto-based firm, which recently closed its second fintech fund — valued at $320 million — focuses on direct-to-consumer fintech startups, as well as financial infrastructure companies. It has been on pace […].
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South State Correspondent
MARCH 9, 2020
When we talk about unforeseen Black Swan events, the COVID-19 virus fits the profile. It has come out of nowhere, taken lives, disrupted public health, altered our daily lives, causing financial market volatility, caused more than five standard deviations of movement in interest rates and likely to have a material impact on credit markets. This isn’t business as usual and for this uncharted territory, you might find this playbook helpful.
Bank Innovation
MARCH 9, 2020
In the wake of today’s stock market free fall, the novel coronavirus and an oil price war, digital investment advisers are encouraging their customers to think long term and not make any rash decisions. The advice is consistent? with a long-term investment approach and guides against knee-jerk reactions to buy or sell. Or, to put […].
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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
MARCH 9, 2020
It’s a simple concept, but one that is quickly revolutionizing how consumers buy from eCommerce. It’s called headless commerce. Aside from the funny name, technically it’s a digital architecture that separates the back end and front end of a retail website to optimize search results, customer experience and the purchase journey. New research says it may be the key to leveling the future eCommerce playing field for Amazon competitors.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
MARCH 9, 2020
Even the most convenient, feature-filled payment rails will fall flat if nobody can be convinced to try them. Such systems can offer everything from swifter settlement times to easy payment status tracking, but such benefits require widespread adoption. Consumers and businesses do not want to use new payment networks unless they believe others are already using them, creating a chicken-and-egg problem.
Bank Innovation
MARCH 9, 2020
Grab Holdings Inc. closed offices in Singapore and Thailand for five days of cleaning after a Singapore-based employee, who previously visited the Bangkok office, tested positive for the coronavirus. “One employee who is based in our corporate office at Marina One West Tower in Singapore has come down with Covid-19,” Grab said Monday in an […].
PYMNTS
MARCH 9, 2020
Amazon is introducing its “Go” concept to other merchants interested in its “Just Walk Out” technology, Reuters reported on Monday (March 9). The eCommerce giant is in talks with other retailers and has “several” signed deals with unnamed customers. The new business division aligns with Amazon’s scheme of turning internal capabilities into business-to-business (B2B) services.
South State Correspondent
MARCH 9, 2020
There is now little doubt that the coronavirus will spread globally and will cause more supply and demand shocks in the market. While economic activity will slow, the amount and duration of the slowdown are big unknowns.
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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
MARCH 9, 2020
Yes Bank founder Rana Kapoor was arrested on money-laundering charges amid efforts to formulate a rescue plan for the country’s fourth-largest private lender, Reuters reported on Sunday (March 8). . Kapoor was arrested by India’s Enforcement Directorate, the country’s federal financial crime agency said. . “I want to cooperate with them,” Kapoor told the court.
Bank Innovation
MARCH 9, 2020
Truist’s Kenneth Meyer, chief information officer of digital channels and innovation, will deliver the fireside chat at the Banking Automation Summit on June 1-2 in Miami.?He will share insights and perspectives on trends in banking automation in a dynamic one-on-one discussion. Meyer has been the CIO at Truist since December 2019. He previously held several […].
PYMNTS
MARCH 9, 2020
To ferret out crime, follow the money; to put a stop to crime, stop the money from getting to the bad guys in the first place. That’s easier said than done, perhaps, in the digital age, where money flows digitally, increasingly in real time. To that end, PayPal said last month that it would team with law enforcement agencies, academics and experts to track how payments are used to traffic firearms illegally through the United States.
Bank Innovation
MARCH 9, 2020
Truist’s Kenneth Meyer, chief information officer of digital channels and innovation, will deliver the fireside chat at the Banking Automation Summit on June 1-2 in Miami.?He will share insights and perspectives on trends in banking automation in a dynamic one-on-one discussion. Meyer has been the CIO at Truist since December 2019. He previously held several […].
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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
MARCH 9, 2020
As the coronavirus roils markets, as indexes swing down — and up — by several percentage points daily, and as interest rates get ever smaller, we’re in uncharted territory. As Jerry Flum, CEO of CreditRiskMonitor , told PYMNTS, the stage may be set for a series of ripple effects, none of them terribly comforting. The Markets. First thing’s first: Markets look overvalued in his estimation, even against recent pullbacks.
BankBazaar
MARCH 9, 2020
Don’t let your burning desire to become rich fade away just yet. Here are five of the worst habits that are blocking your path to amassing a fortune. We all harbour a burning desire to become rich someday. To fulfil that desire we strive harder at work to advance our career, in hopes of ultimately earning and saving enough money to make our dreams a reality.
PYMNTS
MARCH 9, 2020
Cryptocurrency markets plummeted after oil prices crashed and the stock market spiraled into another sell-off frenzy, according to reports on Monday (March 10). . Oil markets tumbled at least 30 percent after the breakup of the OPEC+ alliance prompted a price war between Saudi Arabia and Russia that is expected to have “sweeping political and economic consequences,” CNBC said.
SWBC's LenderHub
MARCH 9, 2020
What Happened: The appropriate answer to “What happened last week?” could be, “What DIDN’T happen last week?” While not as scary as the week Lehman died, last week was right up there. As COVID-19 continued to spread both in the US and the rest of the world disrupting just about everything that drives the global economy, the Federal Reserve came with a 50 basis point inter-meeting cut to their policy rate on Tuesday.
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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
MARCH 9, 2020
The Investigative Committee of the Republic of Belarus is reportedly intending to support a legal initiative that would allow them to seize digital currency from criminals, Cointelegraph reported. The leader of the committee, Ivan Noskevich, reportedly discussed the initiative in an interview with a television channel that is owned by the state. Belarus reportedly doesn’t have a law that would let it confiscate digital currency via enforcement actions.
Payments Source
MARCH 9, 2020
If a checking account doesn’t come with checks anymore, can it still be called a checking account? It’s a valid question that the financial services industry should be asking itself.
PYMNTS
MARCH 9, 2020
Intuit , the tax software company best known as being the enterprise behind QuickBooks and TurboTax , is looking into acquiring FinTech Finicity , according to reports. Intuit recently bought Credit Karma for $7 billion. It could also potentially buy Credit Sesame and NerdWallet. Finicity is reportedly worth between $1 and $2 billion, and Credit Sesame could potentially sell for between $500 million and $750 million.
Payments Source
MARCH 9, 2020
In announcing plans to export Just Walk Out to other retailers, Amazon rattled the emerging autonomous checkout industry and raised questions about its ability to amass even more data than it already has about consumer consumption patterns.
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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
MARCH 9, 2020
Banks on Wall Street are talking to regulators about waiving rules regarding brokers working remotely while the coronavirus makes its way through New York, according to a report by Reuters. A rule change would allow the thousands of daily traders to work from home. There were 37 more confirmed cases of the virus on Monday (March 9), and that brings the total to 142.
Ron Shevelin
MARCH 9, 2020
Why won't Apple report how many Apple Card cardholders there are? Are the numbers that bad?
PYMNTS
MARCH 9, 2020
Eight banks — including HSBC and Standard Chartered — are ready to launch the Contour blockchain trade finance platform in Hong Kong, reports indicated on Thursday (March 5). The other six banks include CTBC Holding, ING, Bangkok Bank, BNP Paribas, SEB and Citi. Last October, Singapore launched its first blockchain-based trade finance platform. . The commercial launch is anticipated during the second half of 2020, after the platform finished in excess of $30 million in letter-of-credit transacti
Payments Source
MARCH 9, 2020
Grab Holdings Inc. closed offices in Singapore and Thailand for five days of cleaning after a Singapore-based employee, who previously visited the Bangkok office, tested positive for the coronavirus.
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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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