Chris Skinner
MAY 7, 2020
Things we’re reading today include … Investors row back on ethical principles, research shows A perky stockmarket v a glum economy Credit-rating agencies are back under the spotlight Emerging markets launch QE, too Coronavirus bailouts: Which country has the most generous deal? Losses by central banks are nothing to fear. The post Things worth reading: 8th May 2020 appeared first on Chris Skinner's blog.
PYMNTS
MAY 7, 2020
The prospect of restarting the economy of bringing all manner of everyday life in the U.S. back to some semblance of “normal” has challenges — and opportunities for banks, especially community banks and credit unions. The challenge lies with serving the needs of the individual who may be hesitant to go back to the old ways of banking — of walking up to teller windows, of handling cash in envelopes.
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Chris Skinner
MAY 7, 2020
The coronavirus crisis has hit everyone sudden and hard. We originally thought it was a Chinese crisis and now it’s a global one. It’s shut down economies worldwide and the banking system has been asked to step in fast and address the crisis. Governments worldwide have asked banks to give … The post Where was the digital backup to our physical structure?
PYMNTS
MAY 7, 2020
It has been almost two months since the World Health Organization (WHO) first declared the coronavirus a pandemic on March 11, and it has since taken an unprecedented toll on consumers’ wellbeing and livelihoods. Many policymakers are making a push to lift the restrictions that have been put in place to slow the spread of contagion in the hopes of reviving the battered economy.
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.
BankBazaar
MAY 7, 2020
Has the lockdown seen your electricity bill shoot up? Worry not; here are four ways to control your power usage while you’re indoors. While staying indoors has certainly helped curb your commute and entertainment expenses, it may have spiked up other expenses like your electricity bill. With work from home adapted across the globe, it’s only natural to see a rise in household power consumption.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Source
MAY 7, 2020
Frank Bisgnano, who engineered a technology-driven recovery at First Data before it was acquired by Fiserv last year, will shortly take Fiserv's top job as the company forges its coronavirus strategy.
PYMNTS
MAY 7, 2020
With results that show how COVID-19 closures are impacting the gaming industry, Wynn Resorts Ltd. reported a net loss of $402 million for the first quarter of 2020. While the results mark a drop into the red from income of almost $105 million a year before, CEO Matt Maddox foresees built-up demand waiting to be released for leisure activities. The executive noted in The Wall Street Journal that individuals were visiting beaches in Southern California in droves, and eateries were opening for busi
Bobsguide
MAY 7, 2020
Government lockdown rules and health organisations’ instructions have created a boom in the use of contactless payments – a new habit that is likely to remain after the coronavirus crisis subsides, says Luc Gueriane, chief commercial officer at Moorwand. “The pandemic has.
PYMNTS
MAY 7, 2020
One week. That’s how much time Paycheck Protection Program (PPP) loan recipients have to return their loan if they can’t meet the updated rules from the U.S. Treasury Department. On April 23, Treasury provided the latest guidance for the Small Business Administration (SBA) PPP initiative crafted to shore up small and medium-sized businesses (SMBs) amid the COVID-19 pandemic.
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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
Matt Wilcox Pro
MAY 7, 2020
Though cybersecurity and cyber fraud are frequent topics of interest, one cannot bring up the importance of solid passwords often enough. In that spirit, here’s wishing you a happy World Password Day. Ready for some scary facts? According to a new report from LastPass, 91 percent of us agree that using the same password for everything [.
PYMNTS
MAY 7, 2020
The coronavirus pandemic has overturned normal commerce, and businesses are working to quickly find new ways to offer services during shutdown orders and to prepare for safe re-openings. Gyms have turned to offering virtual classes, while restaurants are doubling down on delivery services, for example. Even healthcare providers have been exploring ways to deliver care remotely to non-COVID-19 patients who feel safest receiving treatment or consultation via telehealth appointments.
Jack Henry
MAY 7, 2020
No one is exempt from the financial hardship and strain that COVID-19 is inflicting on our economy. We are all struggling on some level. For financial institutions and alternative lenders, the No. 1 priority is to ensure payments continue to be received, whether from outstanding loans or open A/R. As if this challenge wasn’t daunting enough, you must also look ahead to position your portfolio for the future.
PYMNTS
MAY 7, 2020
Global payments provider Fiserv has promoted Frank Bisignano to CEO, the company announced in a press release Thursday (May 7). Its Board of Directors unanimously elected Bisignano to succeed Jeffery Yabuki effective July 1. “With the successful integration of First Data well underway, this is the right time for Frank to lead the next phase of the company’s evolution,” Yabuki said in a statement.
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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
SWBC's LenderHub
MAY 7, 2020
In the past decade, the digital transformation has reshaped how credit unions are expected to interact and communicate with their borrowers. This is due in large part to advances in Fintech and evolving consumer expectations. As your member base shifts to a larger number of millennials and their younger Gen Z counterparts, traditional forms of communication will likely fall on deaf ears.
PYMNTS
MAY 7, 2020
As Target eyes boosting its same-day delivery services, the company is negotiating to purchase portions of California startup Deliv Inc., CNBC reported. The company had offered same-day delivery for Best Buy Co., Macy’s Inc., Mercato Inc., Walgreens and others, the news service reported. Interest in purchasing pieces of the company follows a report by The Wall Street Journal on Wednesday (May 6) that Deliv will close this summer, according to an email from founder and CEO Daphne Carmeli sent to
Payments Source
MAY 7, 2020
One of the selling points behind multi-account payment cards is the ability to shift spending on the fly or shortly after shopping, such as to fund a recent purchase with loyalty points. During the pandemic, this feature may become a key financial management tool.
PYMNTS
MAY 7, 2020
They’re reopening – but they’re dead. Or they’re fading. Or they’re awaiting a renaissance. The characterization of the future of the American mall cuts across many opinions and datasets, but the fact remains that in many cases, it is a fixture of brick-and-mortar retail. As the department stores that once profitably anchored them are now declining, malls need a reality check.
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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.
Bobsguide
MAY 7, 2020
Incumbent banks have slashed profits to prepare for corporate defaults because they aren’t flexible and agile enough to manage their books with confidence, according to Barbanel. An article by the Financial Times estimated that banks had built a cumulative total of $50bn in reserves to.
PYMNTS
MAY 7, 2020
Although a recent uptick in B2B payments innovation has accelerated corporates’ migration away from the paper check, old habits die hard, and the legacy payment tool remains a mainstay in the accounts payable (AP) department. The coronavirus pandemic has undoubtedly thwarted the status quo for businesses of all kinds, and some in the ecosystem are now wondering whether the event will become the catalyst that finally accelerates digital transformation.
Matt Wilcox Pro
MAY 7, 2020
Though cybersecurity and cyber fraud are frequent topics of interest, one cannot bring up the importance of solid passwords often enough. In that spirit, here’s wishing you a happy World Password Day. Ready for some scary facts?
PYMNTS
MAY 7, 2020
Any $1,200 COVID-19 stimulus checks sent to dead people by the Internal Revenue Service (IRS) must be returned, the agency says. Although officials have given conflicting guidance since word emerged that some dead Americans received the money, the IRS has added the following FAQ to its Economic Impact Payment Information Center web page: “Payment made to someone who died before receipt of the payment should be returned to the IRS.
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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.
BankBazaar
MAY 7, 2020
The post-COVID world will be nothing like what it was before. We’re looking at changes that won’t just determine how we interact with each other but also how we work. Let’s take a look. COVID-19 has offered lessons that will probably be difficult for us to forget in our entire lifetime. Until a vaccine appears on the scene and is made commercially available, we’re looking at a complete overhaul of not just how we’re going to interact with each other but also how we&
PYMNTS
MAY 7, 2020
Uber reported on Thursday (May 7) that Uber Eats bookings and revenues soared more than 50 percent during the first quarter – a tasty morsel amid generally unappetizing results that saw the coronavirus slam the company’s flagship Uber Rides business. “While our Rides business has been hit hard by the ongoing pandemic, we have taken quick action to preserve the strength of our balance sheet, focus additional resources on Uber Eats and prepare us for any recovery scenario,” Uber CEO Dara Khosrowsh
CFPB Monitor
MAY 7, 2020
The American Financial Services Association (AFSA) recently filed an amicus brief in Maine federal court in support of the motion for judgment on the record filed by the Consumer Data Industry Association (CDIA) in CDIA’s lawsuit seeking a declaratory judgment that two 2019 amendments to Maine’s credit reporting law are preempted by the federal Fair Credit Reporting Act.
PYMNTS
MAY 7, 2020
Daniel Eckert has been tapped as the new Green Dot executive vice president and chief product, strategy and development officer, making him responsible for all product vision, strategy and development for Green Dot’s product and Banking-as-a-Service needs, according to a press release. Eckert is coming off a tenure at Walmart , where he worked as senior vice president for Walmart Services and Digital Acceleration.
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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.
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