Chris Skinner
APRIL 8, 2020
As usual, during this period of pandemic, there’s been a rollercoaster of events for those of us involved in financial markets. We’ve seen global stock indices drop dramatically, cryptocurrency going up and down faster than Donald Trump’s spin doctoring, and everyone feeling there’s little joy out there economically, financially or … The post Time to buy bitcoin?
Bank Innovation
APRIL 8, 2020
Banks are feeling the pressure of small businesses nationwide applying for Paycheck Protection Program loans. With the launch of the Small Business Administration’s program Friday, bankers are engineering the best ways to handle the customer service inquiries flooding banks’ digital channels. “We dove headfirst into this,” said Becky Buhr, vice president of finance and retail […].
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Chris Skinner
APRIL 8, 2020
Things we’re reading today include … Fraudsters likely to target furlough scheme, says HMRC chief Union calls for cash payment ban on UK buses over coronavirus Virus could push half a billion people into poverty Why a lot of startups will come to regret their unicorn status How sick might … The post Things worth reading: 9th April 2020 appeared first on Chris Skinner's blog.
Bank Innovation
APRIL 8, 2020
Fintechs will likely have a tough time securing funding as the coronavirus pandemic continues to shake up the U.S. economy, prompting investors to tighten purse strings. Fintech funding has been on a downward trajectory for several months, but startups and others in the sector should brace for an even rockier quarter as coronavirus delivers its blows in both the short and long term, according to industry analysts. […].
Advertisement
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
Accenture
APRIL 8, 2020
More than five years after the launch of Apple Pay and four-plus years after the US POS liability shift for EMV, the US market finally appears set to fully embrace contactless payments. To date, consumer adoption of contactless payments (also known as tap-to-pay, or dual-interface EMV) has been inhibited by low penetration of contactless technology….
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Accenture
APRIL 8, 2020
As a global business working with numerous local and international clients, it’s little surprise that Accenture has a keen interest in world events and, from my side in particular, their possible impact on Australia. Many macro forces affect businesses here, but today I’d like to look at three that are particularly relevant to our financial…. The post The global economy’s challenges and the impact on Australia appeared first on Accenture Banking Blog.
PYMNTS
APRIL 8, 2020
Banks are continually working to provide their business customers with more streamlined, impactful services. They previously only interacted with clients in physical branches — accepting deposits and extending loans, for example — but such interactions offered little ability to facilitate customers’ primary business activities. Payment and data application programming interfaces ( API s) are changing that, however.
Abrigo
APRIL 8, 2020
Key Takeaways There will likely be a second wave of additional funds for small business aid. CFIs can still take advantage of the program and begin automating PPP loans in 48 hours. Automation is key to streamlining PPP loans and getting capital into the hands of small business owners quickly. Leveraging a third-party means having a partner to navigate a very fluid situation.
PYMNTS
APRIL 8, 2020
Small businesses overwhelmed U.S. financial institutions as they scrambled to apply for Paycheck Protection Program (PPP) loans under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. When the program went live on Friday (April 3), only two FIs, Bank of America and JPMorgan Chase, had been able to begin accepting applications — Bank of America saw a whopping $6 billion worth of applications in only a few hours, ending Friday with $32.6 billion in applications.
Advertisement
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
Gonzobanker
APRIL 8, 2020
Financial institutions must help digital-first buyers with meaningful content. Here’s how to do it. As the old “why our stuff is best” sales-pitch falls on deaf ears for digital-first buyers, bank and credit union leaders have slammed into overdrive in their efforts to respond to the industry’s non-negotiable demand for entirely digital delivery. As The Financial Brand’s Steve Cocheo points out , poor digital sales are the result of weak content.
PYMNTS
APRIL 8, 2020
Hewlett Packard Enterprise (HPE) is turning to its financial services unit to extend over $2 billion in financing and programs to assist business customers with cash management issues amid the global pandemic. . “Customers and partners are looking to preserve cash right now,” Brad Shapiro, managing director of HPE Financial Services Americas, told ZNet in a report on Wednesday (April 8).
Payments Source
APRIL 8, 2020
While reports of toilet paper and hand-sanitizer shortages may be common stories on the nightly news, one consumer goods category is flying off the shelves at an even faster pace, one never seen before – guns and ammunition, increasing payments volume for gun shops, a merchant category financial service providers traditionally avoid.
PYMNTS
APRIL 8, 2020
Hong Kong-based finance startup Neat has closed a Series A funding round and come away with $11 million, according to a press release. Pacific Century Group (PCG) led the round, while Visa and MassMutual Ventures Southeast Asia were among the other investors. The company’s goal is to offer smart financial tools to small- to medium-sized businesses (SMBs), including multi-currency accounts that customers can open quickly, corporate expense cards, and the option to send and receive money fro
Advertisement
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.
Bobsguide
APRIL 8, 2020
Arbitration, a means of resolving disputed cases through a third-party mediator, offers an attractive alternative to solving complex claims through the courts. When paired with automation, it has the potential to deliver cost and time efficiencies across claim operations, which are experiencing.
PYMNTS
APRIL 8, 2020
With the coronavirus pandemic forcing people out of work in every sector of the economy, unemployment claims are likely to rise by another 5.25 million since last week, according to reports Wednesday (April 8). That’s in addition to the almost 10 million that have filed since government efforts to thwart the virus started forcing businesses to close their doors in March.
Bobsguide
APRIL 8, 2020
Initially posited as organisations with the upper hand in the coronavirus pandemic, challenger banks could face difficulties ahead with a decline in lending volumes and possible drop in customers, yet the crisis will yield “winners and losers on both sides” of challengers and incumbent.
PYMNTS
APRIL 8, 2020
After a cybercriminal took advantage of a sizable software flaw to steal digital currency valued at over $250,000, Bisq suddenly stopped allowing trading Tuesday night (April 7) when it came across “a critical security vulnerability,” Coindesk reported. The decentralized exchange (DEX) said it engaged in the “unprecedented” measure after discovering the glitch.
Advertisement
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.
Payments Source
APRIL 8, 2020
Fintechs, startups and bank-led projects were already working to excise generations of inefficiencies out of supply chains. The coronavirus has heightened the need for smooth payments.
PYMNTS
APRIL 8, 2020
An old computer system and too few employees are making it hard for the Small Business Administration (SBA) to meet the high demand for coronavirus relief loans, according to a report in the New York Times on Tuesday (April 7). The $349 billion Paycheck Protection Program for small businesses rolled out on Friday (April 3) to help keep people afloat in the wake of the worldwide coronavirus.
Payments Source
APRIL 8, 2020
For decades, automated check reconciliation stood out as the lone sanctuary for AR professionals. However, the advent of payment automation indicates that electronic payment reconciliation is more than capable of taking up the baton, says Nvoicepay's Kim Lockett.
PYMNTS
APRIL 8, 2020
Online grocery sales have spiked because of the coronavirus, but the sector had been heading toward a breakout year. It’s a tough call as to whether eCommerce will “stick” when the crisis situation is over. And new data shows that eCommerce sales will show a large increase as March earnings reports begin to emerge this week, with recent consumer spending and supply chain concerns appearing to be non-factors in growth.
Advertisement
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.
Payments Source
APRIL 8, 2020
Huawei Pay hopes to benefit from UnionPay's network and scale as it launches in Singapore, a market that already has several large mobile pay apps including Apple Pay.
PYMNTS
APRIL 8, 2020
Restaurant point-of-sale (POS) software provider Toast said it would have to cut about half of its staff — about 1,300 people — as the coronavirus shutters businesses nationwide, according to a CNBC report on Tuesday (April 7). “During the month of March, as a result of necessary social distancing and government-mandated closures, restaurant sales declined by 80 percent in most cities,” Chris Comparato, chief executive officer of Toast, said in a blog post.
Jack Henry
APRIL 8, 2020
Sometimes, putting your best and brightest minds together to create breakthrough collateral and content means assembling a team that spans from sea to shining sea. For the in-house creative agency at Jack Henry, working from home is their norm. More than half of this talented design group creates solutions for our clients’ most pressing problems from seven locations across the country.
PYMNTS
APRIL 8, 2020
With the coronavirus’ multi-faceted threats to health and funds for people everywhere, grocery stores have tried to mediate the former by introducing more robots in stores. By doing so, grocery stores can help reduce pressure on employees and also ensure that stores will be efficient, as people are still heavily mobbing the stores while the pandemic continues.
Advertisement
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.
Expert insights. Personalized for you.
380 
Let's personalize your content