Chris Skinner
MARCH 15, 2020
I was a little distraught over the weekend. With absolutely no warning, the Polish government closed the country’s borders. All flights and train travel banned. No inbound access at all, unless you are Polish or could provide Polish residency. No outbound access and, if you do leave and return, immediate … The post The politics of pandemics appeared first on Chris Skinner's blog.
PYMNTS
MARCH 15, 2020
Rapper Akon is launching the cryptocurrency, Akoin, that he says will financially power “Akon City” in West Africa. His whitepaper indicates that Akoins will work as “atomic swaps” between cryptocurrencies, fiat currencies, and mobile phone credits on the Akoin network. “The Akoin Utility Token is the exclusive currency of the Akoin ecosystem. Our proprietary Atomic Swap technology enables immediate trade between major cryptocurrencies, our partners’ alternative currencies, and fiat currencies —
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Chris Skinner
MARCH 15, 2020
The main blog headlines are … “Are you willing to take the risk of investing in b t?” “Are you willing to take the risk of investing in b t?” Interesting headline. It’s not mine btw. It’s a question from a leading banker. The question, in this case, related to investing in data … The post The Finanser’s Week: 9th March 2020 – 15th March 2020 appeared first on Chris Skinner's blog.
PYMNTS
MARCH 15, 2020
As a way to provide some financial pressure that people could be experiencing as a result of the coronavirus, Apple alerted Apple Card customers by email that they will be allowed to skip their March payments without incurring interest charges. “We understand that the rapidly-evolving COVID-19 situation poses unique challenges for everyone, and some customers may have difficulty making their monthly payments.
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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
Chris Skinner
MARCH 15, 2020
Things we’re reading today include … Banks are running out of cash EU rejects UK call for rapid agreement on financial services The plumbing behind world’s financial markets is creaking. Loudly Stocks crumble, unconvinced as Fed and peers attempt radical rescue Fed slashes rates, global central banks coordinate to cushion … The post Things worth reading: 16th March 2020 appeared first on Chris Skinner's blog.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Source
MARCH 15, 2020
Cobranded travel credit cards — including some of the most popular and profitable in the payment card industry — are looking at darker skies because of COVID-19.
PYMNTS
MARCH 15, 2020
The Securities and Exchange Commission (SEC) voted last week to ease audit requirements for some small, publicly traded companies, the agency said in a statement Friday (March 13). The SEC originally considered audit change requirements in May 2019 as part of an initiative to make it easier for companies to file an initial public offering (IPO), Reuters reported.
Payments Source
MARCH 15, 2020
Taking the time to consider which technology to adopt for the new, expanded organization can be a critical success factor in the long run, says Bottomline Technologies' Jessica Cheney.
PYMNTS
MARCH 15, 2020
American Airlines is curbing its flights for the next month or so in response to the deadly coronavirus , which has been exacerbated by international travel in recent weeks, according to a press release. The flight company said the changes were intended to acclimate to the lower demand for flights in the U.S. as well as travel restrictions imposed to try and stave off the virus’s spread.
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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
American Banker
MARCH 15, 2020
A national moratorium would be costly to lenders and servicers, but proponents say it's needed to help cushion the economic blow of the pandemic.
PYMNTS
MARCH 15, 2020
The New York Department of Financial Services ( NYDFS ) sent a letter to the approximate 18 cryptocurrency firms it regulates saying they have 30 days to submit a contingency plan in the face of the coronavirus epidemic. The March 10 letter outlined nine items that the agency expects cryptocurrency companies to include it the plan, such as how operational disruptions would be handled and what is being done to protect its employees. .
American Banker
MARCH 15, 2020
The banks — including JPMorgan Chase, Bank of America, Wells Fargo and Citigroup — agreed to stop buying back their own shares through the second quarter, saying they will focus on supporting clients and the nation during the coronavirus pandemic.
PYMNTS
MARCH 15, 2020
The Federal Reserve announced Sunday (March 15) it would drop benchmark interest rates to zero and buy at least $700 billion in government bonds as part of an emergency action to protect the economy from the impact of the coronavirus outbreak. “The coronavirus outbreak has harmed communities and disrupted economic activity in many countries, including the United States,” the Fed said in a statement.
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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.
The Paypers
MARCH 15, 2020
In February 2020 PayPal estimated that COVID-19 could result in a one percentage point reduction to its year-over-year revenue growth for the current quarter, according to Forbes.
PYMNTS
MARCH 15, 2020
Apple has announced that it is canceling its Today at Apple events due to coronavirus fears, according to reports. “As a precautionary measure, we are temporarily pausing Today at Apple programming. Please check back for updates,” the company said on the Today at Apple site. The move affects all stores in Brazil, Canada, Mexico and the United States.
The Paypers
MARCH 15, 2020
Skrill , an online payments company, has dropped all fees and foreign exchange charges for those using Skrill Money Transfer to send money to Italy, according to Verdict UK.
PYMNTS
MARCH 15, 2020
The Federal Reserve announced Sunday (March 15) it would drop benchmark interest rates to zero and buy at least $700 billion in government bonds as part of an emergency action to protect the economy from the impact of the coronavirus outbreak. “The coronavirus outbreak has harmed communities and disrupted economic activity in many countries, including the United States,” the Fed said in a statement.
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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.
The Paypers
MARCH 15, 2020
Alibaba has registered a blockchain-based system patent in Brazil under the category of insurance, financial business, and monetary business.
PYMNTS
MARCH 15, 2020
Congresswoman Maxine Waters , chairwoman of the House Committee on Financial Services, wants to stop any new Industrial Loan Company (ILC) charters until further notice, citing concerns about outdated rules. Waters wrote to Jelena McWilliams , chairwoman of the Federal Deposit Insurance Corporation (FDIC) , requesting the agency wait until new regulatory proposals on ILC charters are given the OK before any more of the charters are passed through.
The Paypers
MARCH 15, 2020
Network International , a digital commerce provider across the Middle East and Africa (MEA), and China’s UnionPay have piloted a QR code-based payment transaction at a merchant outlet in the UAE.
PYMNTS
MARCH 15, 2020
Italian factoring startup CashInvoice launched an equity crowdfunding campaign on CrowFundMe, hoping to raise at least 200,000 euros ($222,000), the company said in a statement. The minimum investment is 500 euros ($555), and the FinTech is planning to go public when it reaches investments of 1 million euros ($1.11 million), based on a pre-money valuation of €7 million ($7.77 million), according to CrowdFundMe.
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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.
The Financial Brand
MARCH 15, 2020
As cities are shut down due to the coronavirus, the banking industry must help consumers do all of their banking from their home. The post Banking Without Branches a Matter of Life and Death appeared first on The Financial Brand.
PYMNTS
MARCH 15, 2020
Mario Centeno, head of the Eurogroup of eurozone finance ministers, will head up a video conference meeting of European Union officials Monday (March 16) in an attempt to assess how to steer the economy back on track amid the coronavirus outbreak, Reuters reported. The meeting will take place via video to avoid meeting in person, which would carry with it a higher risk of transmitting the virus.
The Paypers
MARCH 15, 2020
Software manufacturer Phos has announced a pilot project with Mastercard to introduce a mobile solution that supports small and medium-sized enterprises (SMEs) to accept cashless payments.
The Banker
MARCH 15, 2020
Egypt’s banks have emerged from a difficult decade with their appetite for expansion undimmed. Kit Gillet reports.
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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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