Sun.Jun 28, 2020

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Wirecard … the biggest accounting fraud? Is the customers money safe? The end of Banking-as-a-Service?

Chris Skinner

Some of us are old enough to remember Arthur Anderson and Enron, a mixture of two companies that created an accounting mess bigger than any seen before in corporate history. That was until Ernst & Young (EY) and Wirecard. Interestingly, there have been many auditing mess ups in the past … The post Wirecard … the biggest accounting fraud? Is the customers money safe?

Fraud 449
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San Fran To Delay Next Wave Of Reopenings Amid COVID Spike

PYMNTS

San Francisco’s planned next phase reopening scheduled for Monday (June 29) for outdoor bars, hair salons, museums and more has been put on hold. Mayor London Breed tweeted Friday (June 26) that the city will wait as the number of COVID-19 cases rise across California, CNBC reported. “Yesterday we saw 103 cases,” Breed wrote. “On June 15, when we first reopened outdoor dining and in-store retail, we had 20.

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The Finanser’s Week: 22nd June 2020 – 28th June 2020

Chris Skinner

The main blog headlines are … Is FinTech getting it wrong? Focus on needs and wants A friend of mine, Alessandro Hatami, wrote an interesting piece on Sifted that I shared in my news yesterday. He claims that neobanks like Monzo and Starling are not reinventing banking at all. They’re … The post The Finanser’s Week: 22nd June 2020 – 28th June 2020 appeared first on Chris Skinner's blog.

Maine 277
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Spiff Raises $10M For Automated Commission Payments

PYMNTS

Spiff , which works in sales commission and software, has come off a funding round with $10 million, which it intends to use to boost its software to automate commission payments, TechCrunch reported. Some of Spiff’s investors include Norwest Venture Partners, Next World Ventures and Epic Ventures, with seed investors Kickstart Album Ventures, Pipeline Capital and Peterson Ventures also participating.

Payments 247
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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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Here Is What Lenders Can Learn From Investment Officers

South State Correspondent

With a low and flat yield curve, generating profits through investments has become more challenging. There are some very poignant lessons that CFOs are learning about investment strategies that apply directly to commercial lenders. In this article, we look at several basic capital market precepts that the average investment officer lives with every day but lenders may not notice. .

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Referendum on data privacy coming to California in November

Payments Source

Two years after a consumer protection law changed how banks and other companies handle customer information, a new proposal aims for more sweeping reforms.

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BNP Paribas Rolls Out New Payment Tracking Service

PYMNTS

BNP Paribas has gone live with its new g4C Pay and Trace service, which lets corporations better track and analyze spending for B2B payments, according to a press release. The launch comes on the heels of the integration of BNP Paribas’ integration of SWIFT gpi-related information with the global channel Connexis Cash earlier this year. The new g4C Pay and Trace service allows companies to set up their own UETR, which is the end-to-end transaction reference used to track a payment in the S

Payments 192
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The Foundation for the Fintech Decade: How Account Aggregators will create a New Level Playing Field in India (1/4)

Lars Markull

This is the first part of our four part Open Banking series written by Aaryaman and Lars. Foreword. The world is currently going through a big shift with regards to financial services. More and more people are coming into the formal financial system, and in doing so, they are generating troves of financial data. Each digital payment made or received, each ATM withdrawal, each stock trade – all of these actions generate some financial data about a user or business.

Fintech 59
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The Foundation for the Fintech Decade: Account Aggregators and Open Banking (1/4)

Lars Markull

This is the first part of our four part Open Banking series written by Aaryaman and Lars. Foreword. The world is currently going through a big shift with regards to financial services. More and more people are coming into the formal financial system, and in doing so, they are generating troves of financial data. Each digital payment made or received, each ATM withdrawal, each stock trade – all of these actions generate some financial data about a user or business.

Fintech 52
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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