Tue.Jun 16, 2020

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Cyber fraud surges as COVID-19 changes banking, e-commerce

Payments Dive

As millions of Americans have shifted their daily workplace and shopping to remote online networks and mobile devices, a new wave of cyber threats have emerged focused on targeting banks, e-commerce and other daily financial activities.

Fraud 484
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How to easily access CRX/DE on Adobe AMS after AEM 6.5.5 upgrade

Perficient

If you are currently on Adobe AMS, AEM 6.5 and have upgraded to Service Pack 5 (AEM version 6.5.5) you might have noticed that you can no longer login to AEM via CRX/DE while accessing AMS environments via direct instance IP. AMS can grant you access to CRX/DE via direct environment IP. This change was implemented in the SP5 update and according to the CSE that our team worked with: “The login and logout buttons have been removed on purpose from CRXDE for security reasons (internal ID: GRA

How To 396
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Is the whole system about to fail?

Chris Skinner

I’m a simple guy. I don’t trade or invest much. That may seem surprising for a FinTech guy, but most of what I’ve invested in seems to lose value. As a result, I collect rare comics instead as Batman, Spiderman and Ironman are forever. That being said, I do follow … The post Is the whole system about to fail? appeared first on Chris Skinner's blog.

System 383
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Using Cloud to Solve Healthcare Pain Points

Perficient

This is the second post in a series on Google healthcare capabilities. To read the first post, click here. With the healthcare industry having to quickly jump on the cloud bandwagon with telehealth recently, it is becoming apparent that a new norm is (in my millennial opinion, finally) emerging. This begs the question – how is cloud affecting healthcare?

Google 322
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Digital Transformation: Accelerating ROI and Growth in Commercial Lending

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

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Things worth reading: 17th June 2020

Chris Skinner

Things we’re reading today include … Banks ‘could share branches’ in bid to rescue access to cash Visa hails ‘permanent’ shift in consumer spending habits Banks must treat debt-laden firms fairly to avoid replay of 2008, says FCA chair New trials planned for cash-stricken communities UK Finance boss resigns as … The post Things worth reading: 17th June 2020 appeared first on Chris Skinner's blog.

Community 277

More Trending

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Firms embrace virtual business solutions

Bobsguide

While the lockdown has normalised business via web conferencing tools, financial services are being curtailed as institutions are unable to transfer sensitive customer information along ordinary channels. “In today’s times, making it easy to engage, collaborate and transact.

Tools 148
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Experts: US House Examines Legislative Actions To Combat Cybercriminals

PYMNTS

Cyberattacks against the financial industry have jumped by 238 percent in just the first five months of the year, VMware, Inc. Head of Cybersecurity Strategy Tom Kellermann said, testifying before a U.S. House of Representatives subcommittee on Tuesday (June 16). “Cybercriminals are capitalizing on COVID-19, and they are doing so in tandem with the news cycle,” he said during the virtual hearing.

US 227
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Ekata launches ID verification tool as coronavirus fuels surge in e-commerce

Payments Source

In response to fraudsters seeking to capitalize on the COVID-19 influenced surge in e-commerce, Ekata has launched a new global digital ID verification tool to combat cybercrime.

Tools 112
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European Union Hits Apple With A One-Two Antitrust Punch

PYMNTS

Tuesday (June 16) is marking a bit of a one-two punch on the Continent for Apple. The European Union announced that it is opening not one but two antitrust investigations into the tech giant, focusing on the company’s App Store and Apple Pay. “It appears that Apple sets the conditions on how Apple Pay should be used in merchants’ apps and websites,” European Commission Executive Vice President Margrethe Vestager, who focuses on competition policy, said in a statement announcing the probes.

Apple 226
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The State of Automation in Financial Services 2024 Report

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

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Coronavirus, unrest and recession: merchants’ bumpy path out of lockdown

Payments Source

Even though a portion of retailers could rely on e-commerce to keep active during coronavirus shutdowns, reopening brick-and-mortar shops may be even harder amid new safety concerns.

Retail 113
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How Chairish Helped Its Marketplace Sellers Stay Open — And Recover

PYMNTS

The year was off to a flying start for Chairish CEO Gregg Brockway. He said he felt good about the state of the high-end home decor market and his place in what was a rapidly growing eCommerce segment. In January and February, sales were in line with expectations, and good things were about to unfold. Then came March. “It was a really challenging, scary, crazy time,” he told PYMNTS CEO Karen Webster.

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ATM vandalism: too many questions and not enough answers?

ATM Marketplace

ATM vandalism appears to be on the rise. What steps does our industry need to take to safeguard the investment of the hardware while still providing a necessary and convenient service to our customers?

ATM 104
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Will ‘Zombie Companies’ Eat The US Economy?

PYMNTS

You know the setup — the one that’s part of seemingly every horror movie ever made. Would-be victims use their wits to outrun hordes of moaning zombies, but a few folks always get caught and disappear in a grisly, lip-smacking, bone-crunching gore-fest. Will so-called “zombie companies” soon do the same to parts of the U.S. economy? Zombie companies are those that remain in business but are so deeply in debt that they’ll never catch up.

Company 214
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Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance

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.

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As cash discomfort grows, Fattmerchant adds contactless payment options

Payments Source

Backed by its consumer survey acknowledging a significant shift in payment preferences to contactless options since the COVID-19 pandemic, Fattmerchant is launching software that can quickly add contactless payment acceptance for its merchants.

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Sam’s Club COO: What We Learned During The Pandemic’s Lockdowns

PYMNTS

The past few months have been an incredibly challenging time for retailers that remained open — and an excellent example of innovation on overdrive. Lance de la Rosa , chief operating officer and executive vice president at Sam’s Club , told Karen Webster that the business has had to lean on its staff like never before. “It really has been inspiring to see what they’re doing to take care of each other and the stores they work in, and how they just go in and do every day on behalf of their

Retail 208
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Competition creates innovation in point-of-sale credit market

Payments Source

The coronavirus’ economic fallout has drawn more attention to buy-now-pay-later options, leading to fresh creativity in business models and marketing.

Marketing 104
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Digital Bank Startup Branch Offers Mobile Payments

PYMNTS

Branch , the digital bank startup, is branching out. The Minneapolis-based company has partnered with Mastercard to offer consumers access to their funds through their Branch Mastercard debit cards by adding it to mobile wallets, including Apple Pay, from the Branch mobile app. . “Consumers deserve fast and flexible mobile banking services that adapt to their needs,” said Branch CEO Atif Siddiqi in a statement.

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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

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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Ag Banker Frank Bruning, Loss of an Industry Icon

ABA Community Banking

The agricultural banking community lost an industry icon with the passing of Frank Bruning on June 1. At the time of his death, Bruning was 94 and chairman emeritus of Bruning Bank in Bruning, Nebraska. Bruning began his career in 1964, taking a position at the bank his grandfather helped launch in the late 1800s. [.]. The post Ag Banker Frank Bruning, Loss of an Industry Icon appeared first on ABA Banking Journal.

Industry 105
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Forever 21 Bailout Team May Rescue JCPenney

PYMNTS

JCPenney may have a suitor. Reports circulating Tuesday (June 16) have Authentic Brands teaming with mall landlords Simon Property Group and Brookfield Properties teaming up to purchase the troubled retailer, which filed for bankruptcy on May 15. JCP has until July 14 to file a bankruptcy exit plan, and this deal could be the bailout it’s looking for.

Branding 196
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BMO MD: CAT should not see further delays

Bobsguide

The consolidated audit trail (CAT) must move forward despite remaining data privacy concerns, says Joe Wald, managing director, BMO Capital Markets. “At a certain point, things have to move forward and we can’t let old technology hold us back as an industry,” says Wald.

Capital 88
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Square Buys Verse, Spanish Mobile App Startup

PYMNTS

Square Inc., the San Francisco-based payments platform, has announced it purchased Verse, the Spanish mobile app startup that allows users to make payments instantly at no cost. While the terms of the sale were not revealed, MarketWatch reported the deal closed at between 30 million euros ($33.8 million) to 50 million euros ($56.3 million). “We were drawn to Verse’s strong team, and they share a similar approach to us around inventing and learning to better serve customers,” Square said in a s

Mobile 196
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Top 10 Benefits of Automating Loan Modifications for Commercial Lenders

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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U.S. retail sales soared a record 17.7% in May, double forecast

Payments Source

U.S. retail sales jumped in May by the most on record and double forecasts, regaining more ground than expected after unprecedented drops the prior two months as states allowed more merchants to reopen.

Retail 94
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The Keys To Modernizing B2B Payments: Standards And Starting Small

PYMNTS

The holy grail of payments modernization can be boiled down into to one word: standardization. As the financial services industry seeks to expand the use and value of instant payments linking cross-border transactions with always-on digital commerce, uniting far-flung stakeholders and fostering interoperability is key. This concerted push toward standardization to reduce processing costs takes on a new urgency as the pandemic has exposed some glaring weaknesses among legacy back-end systems and

Payments 182
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Case studies in cost savings with keyless ATM and Branch Access Management

ATM Marketplace

A TMD Security webinar offered proof-positive that keyless access can equal big savings for ATM deployers as well as the business world at large, which now finds itself dominated by COVID-19 concerns.

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Apple Expands Zero Pct Apple Card Financing

PYMNTS

Apple will now be allowing 0 percent interest on financing options for several of its products, including the Mac lineup, iPad, AirPods Pro, AirPods, Apple Pencil and others, when paid for via the Apple Card. The move comes after Apple offered 0 percent interest financing on the iPhone last December. The financing options will depend on which product one is interested in.

Apple 174
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2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

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.