PYMNTS
OCTOBER 4, 2020
The Department of Justice (DOJ) effort to break Facebook away from Instagram and WhatsApp might not be so easy, according to The Wall Street Journal (WSJ). A 14-page report Facebook lawyers prepared in advance of a potential antitrust lawsuit from the government found such action would hurt users, be contrary to established law and cost billions of dollars, WSJ reported after seeing the document.
BankBazaar
OCTOBER 4, 2020
“It is important that when pursuing our own self-interest we should be ‘wise selfish’ and not ‘foolish selfish’. Being foolish selfish means pursuing our own interests in a narrow, short-sighted way. Being wise selfish means taking a broader view and recognizing that our own long-term individual interest lies in the welfare of everyone. Being wise selfish means being compassionate.” – Dalai Lama.
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PYMNTS
OCTOBER 4, 2020
Nonprofit Nacha , which enables Automated Clearing House ( ACH ) payments, has adopted eight new amendments to the Nacha Operating Rules that a press release said will help to modernize the payment style. The amendments concern Same Day ACH and new ways of making ACH payments easier to use, the release stated. Two of the rules also give a new framework for businesses, financial institutions (FIs), payment providers and technology companies to authorize consumer ACH payments, able to be applied t
Payments Source
OCTOBER 4, 2020
Facebook's size and aggressive moves into mobile wallets and stablecoins pose a formidable threat to other big technology companies and traditional payment networks, says Intrepid Ventures' Eric Grover.
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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
OCTOBER 4, 2020
A former Uber executive is planning to launch a $250 million initial public offering (IPO) for a blank check company whose advisors include billionaire Eric Schmidt, an ex- Google CEO, IPO Edge reported. Emil Michael filed an S-1 prospectus on Friday (Oct. 2) for DPCM Capital Inc. , a special purpose acquisition company or SPAC , with the Securities and Exchange Commission (SEC).
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
OCTOBER 4, 2020
Apple has updated its website to show that Greg Joswiak has taken over for Phil Schiller as the company's new senior vice president of Worldwide Marketing, according to a Friday (Oct. 2) report from MacRumors. Schiller transitioned to an Apple Fellow in August, according to a press release at the time. He will still be in charge of the App Store and company events.
BankBazaar
OCTOBER 4, 2020
While women’s empowerment has been a recent development in human society, wild animals have always been ahead of the game with ruling matriarchs. Here are some leadership lessons from nature’s queens! Ah, humans, the most evolved, sophisticated species to have ever conquered the earth. There’s clearly no debating that we are highly intelligent, adaptable, and complex.
PYMNTS
OCTOBER 4, 2020
On the heels of Hollywood’s decision to postpone the James Bond film “ No Time To Die ” premiere until next spring, the world’s second-largest movie theater chain and its U.S. division said they are considering temporarily closing all of their cinemas, according to Reuters. Cineworld and Regal Cinemas , its U.S. subsidiary, employ 37,482 people in 787 theaters in the U.S., Britain and central Europe and 546 locations in the U.S., Reuters reported.
TheGuardian
OCTOBER 4, 2020
The PM wants to repeal laws my government introduced to protect Australians – and the banks are popping champagne corks Pardon me for being just a little suspicious, but when I see an avalanche of enthusiasm from such reputable institutions as the Morrison government, the Murdoch media and the Australian Banking Association (anyone remember the Hayne royal commission?
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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
OCTOBER 4, 2020
As the Department of Justice (DOJ) prepares a potential antitrust lawsuit against Google , dozens of India’s technology startups are considering ways to challenge the Mountain View, California-based tech giant’s dominance, Reuters reported, citing sources. While critics acknowledge Google, owned by its parent company, Alphabet , has supported India’s startups and increased its investments, tech companies say they are frustrated with what they insist are Google’s unfair business practices, Reuter
American Banker
OCTOBER 4, 2020
New rules on shareholder submissions of proxy proposals could help banks fend off demands to disclose more pay data, cut financing to fossil fuels companies and adopt other reforms.
PYMNTS
OCTOBER 4, 2020
As the pandemic continues, so does the lagging economy — and a spate of now permanent layoffs, CNN reported. In the past six months, the number of people whose job losses became permanent more than doubled, CNN reported, which marked the fastest increase on record. While some of the layoffs were termed as temporary earlier in the pandemic, the worsening economy has changed that for millions of people in recent weeks.
The Financial Brand
OCTOBER 4, 2020
The pandemic increased the importance of digital transformation. Financial institutions must move forward aggressively to succeed. The post 7 Essential Components of Digital Transformation Success appeared first on The Financial Brand.
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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
OCTOBER 4, 2020
Private equity managers are turning to specialty borrowing facilities to make sure they can survive the coronavirus pandemic, the Financial Times (FT) reports, though this could pose its own new set of difficulties. According to FT, specialist lenders have been popular as ways to provide bespoke loans, known as NAV credit facilities, based on the estimated net asset of the value of the companies owned by the fund.
Perficient
OCTOBER 4, 2020
September is always one of the most exciting months not only for Teams but for all of Microsoft! Although things were a bit different this year due to COVID, Microsoft hosted its first-ever virtual Microsoft Ignite and things went off without a hitch! In this blog, we’ll cover some of the biggest announcements announced for Teams in the month of September!
PYMNTS
OCTOBER 4, 2020
Singapore Banking-as-a-Service (BaaS) startup RootAnt has ended a seed round with $1.46 million, according to a report by e27. The lead investor was Linear Capital and further help came from KZM & Company Group, the report stated. With the new funding, RootAnt plans to expand in Singapore and also to the rest of Southeast Asia and Japan. Through connecting enterprises and financial institutions (FIs) with new digital products, RootAnt aims to let banks and non-bank FIs integrate innovative p
The Financial Brand
OCTOBER 4, 2020
Increasingly consumers are demanding innovative digital apps that help them organize to achieve savings and budget goals. The post How Financial Institutions Can Help People Gain Economic Peace of Mind appeared first on The Financial Brand.
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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.
The Paypers
OCTOBER 4, 2020
PCI Pal has announced that TRADER , the digital player in Canadian automotive, has implemented its Agent Assist payment solution to ensure CNP payments are handled securely and in compliance with the PCI Data Security Standard.
Bankelele
OCTOBER 4, 2020
This week, the East Africa Venture Capital Association (EAVCA) organized a talk about Mauritius that’s facing a European Union financial transactions blacklist. Some excerpts: Mauritius has set itself up as a financial hub that attracts and deploys investments across Africa. It has become the place of choice to operate through and 90% of investments into […].
The Paypers
OCTOBER 4, 2020
The MRC has expanded its mission by including a greater focus on advocacy and e-learning in fraud prevention and payments industry.
PYMNTS
OCTOBER 4, 2020
Jacqueline Reses , head of Square 's Square Capital unit, is stepping down as of Oct. 30, according to a report from The Motley Fool. Square didn't provide a reason for the departure in a brief statement, only saying that Reses “has worked at Square for five years and provided significant contributions to the company.”. Square Capital is the company's small business financing arm, providing loans from $300 up to $10,000, charging a single fee for loans.
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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
OCTOBER 4, 2020
Account automation software firm BlackLine has acquired AI-based cloud platform Rimilia in order to expand BlackLine's capabilities into AR automation, a new area for the company, a press release says. The acquisition will also move along BlackLine's goals toward modernizing accounting. Rimilia, based out of the U.K., works to provide accounts receivable automation, helping companies control cash flow and collection in real time.
PYMNTS
OCTOBER 4, 2020
After 180 days of volatility, bitcoin dropped to its lowest mark since November 2018, according to CoinDesk. The cryptocurrency reached a 23-month low of 0.028 on Sunday (Oct. 4), though the market was mostly unfazed by the tumultuous current events of recent days. Though bitcoin began to lag late last week as President Donald Trump was diagnosed with COVID-19 and the U.S.
PYMNTS
OCTOBER 4, 2020
Despite a move by major airlines to drop fees to lure customers, the chief operating officer of Airbus said Saturday (Oct. 3) the outlook for the aviation industry is grim as COVID-19 infections rise and travel restrictions resume, Reuters reported. Michael Schoellhorn, an executive of the world’s largest airliner manufacturer based in the Netherlands, said air travel is at a fraction of normal levels and airlines have slowed deliveries of new aircraft, the report stated.
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