Perficient

JULY 14, 2020

We’ve all been there. You have an application you use daily for operations, but when it comes down to clicking that submit button, you need that extra piece of information to make your decision. Turns out, that piece of information lies in another system, with its own login workflow and going to get it would require you to switch focus, possibly getting you out of “the zone” What if you could bring that information to you?

Data 461

Data Regional System Meeting 461

Chris Skinner

JULY 14, 2020

I’ve spent years talking about Artificial Intelligence (AI). Source: Europa Bearing in mind that we always talk about AI in the context of the Turing Test – a test that Alan Turing created back in 1950 – it’s not surprising. That test is that we will have achieved the true … The post AI will augment, not destroy humanity appeared first on Chris Skinner's blog.

Fintech 471

Fintech 471

Payments Dive

JULY 14, 2020

As the COVID-19 pandemic has rapidly changed the e-commerce landscape, online sellers need to make sure they are offering a wide range of payment options that cater to the needs of their customers.

Retail 431

Retail Payments Online 431

Perficient

JULY 14, 2020

It should be no surprise to hear that Healthcare Organizations (HCO’s) of all kinds are moving to the cloud. I see most of our provider and payor clients making significant investments. The platforms they use mostly match F orrester’s Enterprise Health Cloud Wave from Q3 last. Yes it’s three quarters old but still relevant. If you read the actual report, you’ll see that each vendor has specific strengths.

Analytics 322

Analytics Tools Trends Data 322

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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

Lending

Chris Skinner

JULY 14, 2020

Things we’re reading today include: Bank of England mulling new digital currency post-Brexit Big US banks set aside $28bn in downturn warning UK government planning new green investment bank McKinsey warned Wirecard a year ago to take action on controls Former Barclays boss apologises for Amanda Staveley ‘tart’ reference UK’s … The post Things worth reading: 15th July 2020 appeared first on Chris Skinner's blog.

US 310

US 310

Bobsguide

JULY 14, 2020

When auditors KPMG discovered a €1.9bn black hole in the accounts of German payments giant Wirecard last month, shockwaves were sent across the financial world. The ongoing scandal has raised questions for many, not least accounting firm Ernst & Young, whose previous audit had failed to.

Payments 202

Payments 202

PYMNTS

JULY 14, 2020

“Organizations may have had to engage in relaxation strategies, which could inversely impact their fraud appetite, as they had to let more transactions through without reviewing them. The risk is real.”. Spikes in cybercrime are making headlines daily, and people are getting burned. Preparedness often decides the outcome. “In our experience, clients running machine learning models haven’t had to change thresholds,” said Nuno Sebastião , co-founder and CEO at Feedzai.

Fraud 311

Fraud Meeting Strategy Operations 311

Payments Source

JULY 14, 2020

The coronavirus pandemic has generated more interest in pay-at-the-pump apps, a growing segment of the payments industry that may not have grown fast enough to be ready for the sudden surge of interest in contactless payments.

Industry 136

Industry Payments Mobile Retail 136

PYMNTS

JULY 14, 2020

As the United States experiences a coin shortage due to the pandemic, some brick-and-mortar retailers are forcing consumers to tell cashiers to “keep the change.”. Kroger is the largest chain so far to do so, temporarily refusing to give coins out as change. Customers can either round up their bills to the nearest dollar and give the excess to charity or get their change stored on loyalty cards. “The Federal Reserve is experiencing a significant coin shortage that is impacting our store op

Retail 290

Retail US Cards United States 290

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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

Report

ATM Marketplace

JULY 14, 2020

Daniel Polotsky, CEO and Co-Founder of CoinFlip, shares his thoughts on Bitcoin ATMs and their importance, especially in regards to the unbanked and underbanked sector.

ATM 145

ATM Bitcoin 145

PYMNTS

JULY 14, 2020

American Express has launched a new automated accounts payable solution, American Express One AP, to help businesses digitize B2B payment processing, according to a press release. The service, built with the technology American Express acquired with its purchase of acompay in 2019, will aim to help businesses process supplier payments in a more efficient, modern digital way, working seamlessly with the systems they already have in place, according to the release.

Payments 254

Payments System Survey Cards 254

BankUnderground

JULY 14, 2020

Sinem Hacioglu Hoke, Diego Kaenzig and Paolo Surico. The response to the Covid-19 pandemic has included closure of retail outlets and social distancing. How large was the resulting consumption fall in the UK? In a new paper , we try to answer this question using a transaction-level dataset of over 8 million individual transactions. This gives a near-real time read on consumer spending, without the publication lags associated with national accounts consumption data.

National 137

National Retail Groups Data 137

PYMNTS

JULY 14, 2020

Convincing consumers to designate precious space on their mobile phones to download yet another app can be a tough sell these days. Yet, large shares of consumers would be willing to make room for additional apps that can give them greater control over their spending. PYMNTS research has shown that approximately 40 percent of consumers would be very interested in downloading highly functional mobile card apps that can be used to manage multiple cards, track spending and issue transaction alerts,

Cards 197

Cards Mobile Groups Survey 197

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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.

Lending

Payments Source

JULY 14, 2020

Afterpay has launched a version of its online installment payment method for in-store use in the U.S. by leveraging Apple Pay and Google Pay.

Payments 122

Payments Apple Google Online 122

PYMNTS

JULY 14, 2020

Afterpay Ltd. , the Australian buy now, pay later (BNPL) company, reported its fourth quarter (Q4) sales represented the highest quarterly performance ever, reflecting the shift to eCommerce spending since the impacts of COVID-19 emerged globally. The company, which operates in the U.S., the United Kingdom, and New Zealand, announced its Q4 results Monday (July 13) for Q4 that ended on June 30.

Millennials 188

Millennials Capital Trends Report 188

Payments Source

JULY 14, 2020

Derek Webster, founder and CEO of the mobile point of sale provider CardFlight, talks with Daniel Wolfe, editor-in-chief of PaymentsSource, about the data CardFlight collects on small-business spending, which it updates every week during the coronavirus pandemic.

Mobile 91

Mobile Data Cards Retail 91

PYMNTS

JULY 14, 2020

As predicted by the PYMNTS COVID-19 Tracker project, the automotive business will need to shift to Digital 3.0 for any kind of post-pandemic recovery. That shift was reinforced this week in two reports predicting the need for digital tools to recreate connections with consumers. According to a new analysis from Deloitte , car manufacturers now face a new set of consumer expectations as demand returns in the marketplace.

Tools 183

Tools Online Retail Analysis 183

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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.

US

Bobsguide

JULY 14, 2020

Driven by new technologies, the alternative finance sector has evolved rapidly in recent years. It includes some of the most disruptive organisations the finance sector has seen, and has not always avoided controversy.

Lending 88

Lending Technology 88

PYMNTS

JULY 14, 2020

Livestreaming eCommerce is finally picking up steam in the U.S., care of an evolving business model from a three-year-old startup called Glamhive. The company has hosted two events so far, bringing at least one major sponsor together with a star-studded array of Hollywood stylist talent. But when you mention to Glamhive CEO Stephanie Sprangers that she might be a pioneer in this space, her modesty kicks in.

New York City 173

New York City New York Examples Maine 173

Payments Source

JULY 14, 2020

Called the Dash Cart, Amazon’s new device uses a mix of cameras and sensors to identify items placed inside it — harnessing the power of its Amazon Go convenience stores in something much more portable.

Mobile 90

Mobile Retail Payments 90

PYMNTS

JULY 14, 2020

J.P. Morgan Chase – America’s biggest bank in asset terms – on Tuesday (July 14) became one of the first financial firms to show how big of a bite COVID-19 took out of its second-quarter top and bottom lines. The effects were notable and profound. All in, the bank reported a 51 percent earnings plunge, with profits falling to $4.7 billion from $9.7 billion a year ago.

Cards 163

Cards Lending Capital Resources 163

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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.

Compliance

BankInovation

JULY 14, 2020

Merchants Capital, the mortgage banking subsidiary of $7.9 billion Merchants Bank, is automating its loan origination system, which is likely to propel the lender’s overall digitization efforts, according to Bill Sullivan, executive vice president and chief operating officer. Carmel, Ind.-based Merchants is currently rolling out underwriting technology from Clik.ai to extract and classify data on […].

Capital 87

Capital Analytics System Operations 87

PYMNTS

JULY 14, 2020

Wells Fargo reported Tuesday (July 14) that its teller and ATM transactions plunged 28 percent in the second quarter amid COVID-related temporary branch closures and the continued transition to digital. The financial institution also announced plans to slash its third-quarter dividend to 10 cents a share from a previous 51 cents subject to board approval.

ATM 163

ATM Cards Mobile Capital 163

American Banker

JULY 14, 2020

Net charge-offs fell at Citigroup and Wells Fargo, thanks to forbearance and federal stimulus. Leaders of those banks are warning that delinquencies could rise once the benefits of those programs wear off.

Lending 90

Lending 90

PYMNTS

JULY 14, 2020

Big banks kicked off the second-quarter earnings season Tuesday (July 14) by reporting COVID-weakened consumer banking revenues, but bright spots in trading and digital. While JPMorgan Chase and Citi managed to come out ahead of analyst estimates, Wells Fargo posted a top-line miss and a significantly worse-than-expected bottom line. Here’s a rundown: Citigroup.

Cards 158

Cards ATM Report Community Bank 158

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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.

Lending