Chris Skinner

MAY 4, 2020

I’ve tracked Wirecard for some years, as they were the bank partner that allowed Ollie Purdue to drop out of university at 21 years old to launch a bank called Loot. Wirecard basically offer the platform of many other firms to offer full banking services across Europe. Based in Germany, … The post Wirecard versus The Financial Times: a FinTech poster child on trial appeared first on Chris Skinner's blog.

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Fintech Case Study Study 397

Bank Innovation

MAY 4, 2020

Banking platforms aimed at small businesses are tweaking their offerings to accommodate clients scrambling for Small Business Administration Paycheck Protection Program loans.? “As soon as we saw the PPP was moving, we made a pipeline between us and Radius [Bank] to allow our customers to get into the queue for loans,” said Eytan Bensoussan, co-founder […].

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US Customer Experience Innovation Strategies Strategy 259

Chris Skinner

MAY 4, 2020

Things we’re reading today include … Revolut on the hunt for acquisitions CEOs cutting salaries is mostly a ‘publicity stunt’ How the paper trail went cold in KPMG’s special audit of Wirecard Coronavirus: UK banks get 45,000 loan applications on first day RateSetter halves payouts to investors Managing identity risk … The post Things worth reading: 5th May 2020 appeared first on Chris Skinner's blog.

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Management 292

Bank Innovation

MAY 4, 2020

The Swiss banking technology company Temenos is teaming up with Microsoft to help banks implement crime-fighting software for financial institutions. Through the partnership, banks can trial the software for 14 days through the end of June before changing their cybersecurity systems. “Criminals are quick to take advantage of people and quick to take advantage of […].

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Software System Technology Company 259

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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

South State Correspondent

MAY 4, 2020

As you wind down and clean up Round 2 of the Paycheck Protection Program (PPP) and before you produce your 1502 report to the SBA, it now merits thinking about how to best set up for the wave of forgiveness work that starts immediately after funding. Obtaining forgiveness is critical to both the bank and the borrower as it increases profitability, enhances cash flow, aids in liquidity and removes the risk for both parties.

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How To Report 339

Abrigo

MAY 4, 2020

Key Takeaways You should always update your software to the latest version as soon as it's available. The update may contain important updates to do regulatory changes that will keep you compliant. If you or your IT department are having issues keeping up with software updates, consider a hosted solution. Have you wondered why your smart phone continues to notify you of application updates as soon as they are available?

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Software Cyber Security Security Community 195

PYMNTS

MAY 4, 2020

Nearly 50 million credit card customers in the U.S. said they have had their credit limit slashed or their card closed in the past month as lenders move to minimize their risk amid the COVID-19 shutdown, a new study revealed. The survey, released on Monday (May 4) by CompareCards, a division of LendingTree, found one in four Americans say their credit card terms have been changed involuntarily since the start of the coronavirus pandemic.

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US Survey Cards Study 243

Jack Henry

MAY 4, 2020

As COVID-19 emerged in the US, financial institutions soon realized their response would be unchartered – every employee, every accountholder, every branch, and every community would be impacted. Business continuity quickly became priority-one and launching a complex, enterprise-wide pandemic response was a challenging reality for every financial institution.

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PYMNTS

MAY 4, 2020

“Buy now, pay later” (BNPL) options are very popular — when people know they exist, that is. In the April-May 2020 edition of the Buy Now, Pay Later Tracker® , done in collaboration with Afterpay , we discover that the draw of instant credit has greater potential than it has already shown and, as awareness grows on this concept, there’s plenty of headroom for growth.

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Retail Cards Payments Report 223

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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

Bobsguide

MAY 4, 2020

With reports of Environmental, Social and Governance (ESG) investing on the rise amid a drastic drop in oil prices, ESG data is facing scrutiny both from investors and regulators. Market participants are therefore looking to artificial intelligence (AI) to assist in data management. “As.

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Management Data Regulation Marketing 124

PYMNTS

MAY 4, 2020

With talk about reopening the U.S. economy come questions around how schools are going to handle reopening. Labor and public health experts say extending school closures is not sustainable, as parents will have to return to work and won’t be able to do that if the kids are still out of school, a CNBC report noted. It will be difficult, as predictions from medical officials say another wave of coronavirus could hit by the winter.

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North Carolina New York City Guidelines Policies 213

Payments Source

MAY 4, 2020

Visa’s the first card company to push back the October deadline for U.S. gas station EMV compliance, but that’s just one of a mounting set of challenges petroleum merchants are facing because of the coronavirus.

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Compliance Cards Company Retail 118

PYMNTS

MAY 4, 2020

Economists, policymakers and epidemiologists have been modeling the cost/benefit of reopening the U.S. economy since governors began asking their citizens to #stayathome in mid-March, and even well before that. A decision to reopen, even partially, must weigh the economic impact of keeping the economy locked down against the availability and effectiveness of treatments that will mitigate or eliminate the risk of another serious outbreak, as well as illness and deaths, within months of reopening

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Study Online Course Millennials 209

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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

Gonzobanker

MAY 4, 2020

All the capital flowing into the digital fintech space is helping to solve banking industry challenges. As the industry’s appetite for digital technology grows, the capital that’s been flowing into mostly digital-focused fintech is solving real industry challenges right now. In the midst of unprecedented market volatility, recent deals and back-channel chatter illustrate that fintech demand remains high.

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Fintech FDIC Capital Community Bank 109

PYMNTS

MAY 4, 2020

Financial institutions (FIs) face tough decisions when trying to keep their clients safe. Customers and merchants rely on their banks and credit unions (CUs) to ensure they have secure, convenient online transactions, and many FIs work to detect fraud by looking for abnormal purchasing behaviors that could indicate something is amiss. Seeing consumers’ cards suddenly used in new cities or for making unusual types of purchases could be a major red flag that indicates the cards have been stolen, f

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Fraud Data Tools Online 197

Payments Source

MAY 4, 2020

The path away from cash and plastic was well underway before the pandemic, and will deeping during the crisis and beyond, says Paysafe's Daniel Kornitzer.

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Payments 105

PYMNTS

MAY 4, 2020

There is no playbook for a pandemic. It’s a truth repeated over and over in the press, from analysts and executives during the last week of earnings calls. However, this most threatening of business climates is hardly the time to strike the tents and abandon all hope of controlling a company’s destiny. But particularly in the retail space, this phenomenon seems to be playing out.

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Strategy How To Retail Data 182

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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.

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Payments Source

MAY 4, 2020

Consumer remittance behaviors are being forced to change, with senders and recipients moving to mobile wallets, bank accounts, and cards. But many still want cash.

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Mobile Cards Payments 101

PYMNTS

MAY 4, 2020

California Gov. Gavin Newsom recently described the future of restaurant dining in the Golden State thusly: “[You] may be having dinner with a waiter wearing gloves, maybe a face mask, a dinner where the menu is disposable, where … half of the tables in that restaurant no longer appear, where your temperature is checked before you walk into the establishment.”.

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California Conference Survey US 173

Banking Exchange

MAY 4, 2020

Some states are phasing out stay-at-home orders and allowing businesses to reopen after nearly two months of lockdown Customers Branch Technology/ATMs Compliance Management Operational Risk Compliance/Regulatory Community Banking The Economy Feature Management Duties Feature3 Risk Management.

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Risk Management ATM Community Bank Compliance 78

PYMNTS

MAY 4, 2020

Two years ago, Singapore launched its SMEs Go Digital campaign, a government effort to enable small businesses to modernize and embrace the cloud that continues today. Indeed, amid the coronavirus pandemic, this digitization push has become even more paramount than before, and Singapore is calling on not only small businesses, but their service providers and partners, to support the effort.

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blockchain Industry Online Examples 168

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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

Banking Exchange

MAY 4, 2020

The Fed is boosting several pandemic aid programs, including the PPP, as data shows more than half of its first expansion has been used up Business Credit The Economy Fair Lending Feature3 People Customers Compliance/Regulatory Community Banking Feature.

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Community Bank Compliance Lending Community 78

PYMNTS

MAY 4, 2020

Office closures and remote working mandates have created an uncomfortable wakeup call for accounts payable (AP) and accounts receivable (AR) departments that continue to rely on manual, paper-based processes. And there are a lot of them. The Optimizing AP and AR Playbook , a collaboration between PYMNTS and OnPay Solutions , found last month that an estimated nine billion paper invoices are processed every year in U.S.

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Cards Payments Data Fraud 165

CFPB Monitor

MAY 4, 2020

A group of banking trade associations have filed a “ Petition for Expedited Declaratory Ruling, Clarification, or Waiver ” with the FCC regarding how the Telephone Communication Protection Act’s “emergency purposes” exception applies to phone calls and text messages placed by banks, credit unions, and other financial institutions on matters related to the COVID-19 pandemic.

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Groups Fraud Security Resources 78

PYMNTS

MAY 4, 2020

In eight countries, it appears that the parent company has decided Uber Eats fails to deliver the desired market clout. As a result, Uber is dropping its online food delivery business in the Czech Republic, Egypt, Honduras, Romania, Saudi Arabia, Ukraine and Uruguay. The company said its goal was to become one of the top two operators in those countries, according to Reuters , but it does not see that happening.

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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