Payments Dive
AUGUST 21, 2020
Steve Villegas, VP of PPRO takes a look at an unexpected result that has come from the coronavirus pandemic: an increase in e-consumers, including older shoppers that have now embraced the digital world.
Perficient
AUGUST 21, 2020
For those of you who weren’t aware, Sitecore 10 has made it into the community as of last week which makes this a great time to start learning about it on our blog. For inspiration, here are some new things that Sitecore 10 brings to the table: Container support. Headless development with ASP.NET Core. Sitecore CLI for serialization. New EXM email templates.
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PYMNTS
AUGUST 21, 2020
More than $50 billion of cryptocurrency was transferred from virtual wallets in China to other parts of the world last year, a potential violation of the nation’s strict limits on how much money can be sent abroad, according to a new report. While Chinese traders are limited to the purchase of up to $50,000 of foreign currency annually, the volume suggests stablecoins could be being used to circumvent the regulation, according to Chainalysis , the New York-based provider of regulatory compliance
Perficient
AUGUST 21, 2020
Let’s say it has been ten years since you last implemented your self-service customer portal and it’s starting to show its age. A lot has changed in the portal space since that time and you want to consider a new platform to support your ongoing digital transformation efforts. As you start to research what’s available in the market, you find that there are hundreds of potential systems, all at different price points and all that claim to be the best solution.
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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
AUGUST 21, 2020
Looking for a travel-related business that’s actually booming during the year of COVID-19? It’s out on the water, in rented boats of every shape and size from kayaks to luxury yachts. “We had our drop-off in April, and then come May we saw a very quick rebound, Bryan Petro , chief operating officer of boat rental and charter marketplace GetMyBoat , told PYMNTS.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
AUGUST 21, 2020
Engaging customers in socially responsible causes can help retailers build trust and develop lasting relationships that translate into many return visits. A recent study found that 47 percent of consumers around the world would be more inclined to trust businesses that support environmental or social causes they embrace, for example, while 53 percent said a business’s outreach in causes they support would make them more likely to endorse the firm’s goods or services.
Payments Source
AUGUST 21, 2020
Wirecard, which is trying to sell pieces of its embattled company while rivals pick up its clients, has struck a deal to sell its U.K. division, Wirecard Card Solutions, to Railsbank, an open banking and payments technology firm.
PYMNTS
AUGUST 21, 2020
For airlines, looking toward the future leads to a longing for the past. And though 2019 was, well, not all that long ago, it seems like a million years ago. Earnings season, as always, sheds light on what’s to come – and per commentary from the Delta airlines conference call to discuss second-quarter results, the company’s third-quarter revenue and flight capacity will be at roughly a quarter of last year’s, owing largely to the pandemic.
Payments Source
AUGUST 21, 2020
Taco Bell tweaks drive-through for mobile; and other information you need to start your day, from PaymentsSource and around the web.
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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
AUGUST 21, 2020
Digital dollars are a maybe – but if so, not for a while. And there’ll be quite a bit of tinkering with the technology (especially the infrastructure) and the use cases to get there. Earlier this month, as PYMNTS noted , the Federal Reserve said its Boston bank is working with the Massachusetts Institute of Technology (MIT) to explore the possibility of issuing digital currency.
Payments Source
AUGUST 21, 2020
The global digital currency race has heightened the threat to traditional monetary policy and the dollar’s dominance, enough for the Federal Reserve of Boston to make a concerted effort to keep pace.
PYMNTS
AUGUST 21, 2020
Digital banking is reaching unprecedented levels of popularity amid the pandemic, with 89 percent of American bank customers using mobile banking apps to manage their savings and checking accounts. This popularity is not expected to decline once the virus wanes, with the number of online and mobile banking users expected to hit at least 3.6 billion by 2024.
Payments Source
AUGUST 21, 2020
Self-sovereign identity and blockchain are just two examples of how authentication can be better managed in an online environment, says Adara's Nguyen Nguyen.
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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
AUGUST 21, 2020
Citigroup Inc. returned to court Friday (Aug. 21). Reuters reported the New York-based multinational investment bank and financial services corporation filed its third suit in the U.S Southern District of New York Court to recoup $900 million it mistakenly sent to lenders of Revlon Inc. While many firms returned the money at Citi’s request, the bank said in court documents, a dozen have been sued after what the bank called an “operational error” caused it to transfer $900 million of its own fund
BankUnderground
AUGUST 21, 2020
Saleem Bahaj and Fernando Eguren-Martin The US dollar has a dominant role in the international financial system. The fact that trade and cross-border investment are overwhelmingly dollar-denominated means that non-US banks are heavily reliant on dollar funding (Aldasoro and Ehlers (2018)).
PYMNTS
AUGUST 21, 2020
As it approaches its potential introduction to the public markets, Palantir is reportedly set to be the newest in a line of tech firms to go public long prior to bringing in positive income, The New York Times reported. Palantir registered $742.5 million in revenue last year, marking an increase of almost 25 percent from the prior year. It had a net loss of $580 million, roughly equivalent to its loss in 2018, while costs were slightly above $1 billion.
CFPB Monitor
AUGUST 21, 2020
The Texas federal district court hearing the lawsuit filed by two trade groups challenging the CFPB’s 2017 final payday/auto title/high-rate installment loan rule (2017 Rule) has entered an order lifting the stay of lawsuit , originally entered in June 2018 on the heels of the trade groups’ motion for a preliminary injunction and before the CFPB’s response to the motion or answer to the complaint in the case.
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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.
PYMNTS
AUGUST 21, 2020
The trend toward digitization in consumers’ lives isn’t new, but COVID-19 has accelerated it dramatically over the past several months. Community banks and credit unions are feeling the pressure to boost their digital card services or risk losing customers to megabanks and digital challengers, Ondot Systems ’ Chief Strategy Officer Todd Lesher told PYMNTS in a recent discussion.
BankDeals
AUGUST 21, 2020
Eastman Credit Union (TN/TX/VA) has very competitive rates on 1-2 year Jumbo Investment Certificate ($100k minimum) and 1-2 year Investment Certificate ($1k minimum).
PYMNTS
AUGUST 21, 2020
As Wirecard AG’s global operations close following its bankruptcy filing, the German payment company has agreed to sell what’s left, the Financial Times reported. Michael Jaffé, the court-appointed insolvency administrator, said an agreement has been reached to sell Wirecard’s Brazilian business to Sao Paulo-based PagSeguro Digital, one of the nation’s largest mobile payment-based eCommerce companies.
FluentBanking
AUGUST 21, 2020
Many businesses are facing trouble to survive during this pandemic situation. It is expected that this pandemic will leave the legacy of long-lasting bankruptcies and redundancies. Bank banks are already facing provisioning shortfall. It is worthy to complete the groundwork for the next upcoming years now. This scenario is not only applicable to the local banks' many international banks are preparing themselves to face unexpected events in the coming years.
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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
AUGUST 21, 2020
It’s often said that home is where the heart is. But in 2020, it seems that expression could be modified to note that home is just about where everything making up a typical consumer’s life is, as COVID-19 has seriously dimmed most people’s enthusiasm for being out and about. Consumers are nesting, a conclusion supported by recent data from the online home remodeling platform Houzz.
TrustBank
AUGUST 21, 2020
This week the S&P 500 hit an all-time high, erasing the 35.41% drop earlier this year and marking the fastest recovery from a 30% decline. This rise should come as no surprise since the decline into bear territory was also the fastest on record. Markets are adjusting quicker than they have in the past. With so much uncertainty in the economy, is the market suffering from “irrational exuberance”?
PYMNTS
AUGUST 21, 2020
It’s not often that Walmart gets upstaged in the world of retail. In fact, Amazon is about the only one who has been capable of doing so, as the reigning offline and online title-holders duke it out for the U.S. consumer’s whole paycheck. But this week, Bentonville got smoked by the other brick-and-mortar powerhouse just up the Mississippi River in Minneapolis: Target.
BankInovation
AUGUST 21, 2020
It’s clear that COVID-19 is having a massive effect on the financial services industry. As a result, it is imperative that financial institutions have visibility into their Commercial Real Estate (CRE) portfolios to monitor and reduce their exposure to risk. When state lockdowns began in March, requiring the shuttering of physical business locations, many commercial […].
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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.
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