Accenture
OCTOBER 1, 2020
While cloud native development might be considered the “new normal,” mainframe still has a stronghold in the financial services industry due to its robust resiliency and massive compute capability. However, as I explained in my previous post , the mainframe cannot match cloud when it comes to agility, scalability and cost-effectiveness that are so essential….
Perficient
OCTOBER 1, 2020
The times they are a-changing, particularly in healthcare. It’s easy to see COVID-19’s vast impact on the consumer experience. Yet change was brewing in healthcare before the pandemic hit our communities. While interoperability mandates driven by CMS’ Final Rule were back-burner’ed for a while, they’re still top of mind for healthcare executives.
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PYMNTS
OCTOBER 1, 2020
Consumers and microbusinesses now get an average of two disbursements each year, excluding tax disbursements from local, state and federal governments. Yet, many of those disbursements are neither digital nor instant and available for consumers and microbusinesses to access and spend on demand, PYMNTS’ latest Disbursements Satisfactory Report found.
Perficient
OCTOBER 1, 2020
Are you struggling to get users to efficiently embrace a new tool or technology? Is the unexpected shift to fully remote working creating change management obstacles? Are you looking to prepare for an upcoming Microsoft Teams implementation for your small or large company? Just because you implement a new tool, doesn’t mean people will use it or even leverage it correctly.
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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
OCTOBER 1, 2020
SWIFT , a global provider of secure financial messaging, announced a new service Thursday (Oct. 1) that promises to improve the experience for small and medium-sized businesses (SMBs) and consumers who send low-value payments across borders. The Belgium-based cooperative said the initiative will enable customers to make faster, easier, predictable and competitively-priced payments worldwide.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
OCTOBER 1, 2020
The pandemic has exposed the pain points of all verticals when it comes to payments, and especially when it comes to transacting in person, in a tactile environment, with cash, and where banking conduits are limited. Nowhere is that more true than in the legal cannabis industry where regulations are still evolving. Banks have been inching into the space; cash still remains a hallmark.
Payments Source
OCTOBER 1, 2020
The optometrist Benjamin Thayil offers an alternative form of financing for consumers who may be wary of large credit card bills or shocked at the idea of paying for an entire eye treatment all at once.
PYMNTS
OCTOBER 1, 2020
The plastic card, by necessity, is giving way to digital cards, and mobile apps are bringing card-not-present transactions, increasingly, to mobile devices. In an interview with PYMNTS, Jennifer Miller, senior vice president, head of partner strategy at Elan , said the shift to mobile card apps demands careful attention from financial institutions (FIs) as they design new products that are secure and flexible.
Payments Source
OCTOBER 1, 2020
From a fraud prevention perspective, there are several difficulties in detecting and stopping funeral home fraud, says The ai Corporation’s James Crawshaw.
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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
OCTOBER 1, 2020
Goldman Sachs has beat out competitor Barclays to buy General Motors (GM)'s credit card business, according to a report from The Wall Street Journal (WSJ). The purchase will go through for approximately $2.5 billion, and it furthers Goldman Sachs' push into Main Street lending. By beating Barclays in the deal, Goldman now has access to the over 1 million cardholders who account for roughly $8.5 billion in spending per year, WSJ reported.
Payments Source
OCTOBER 1, 2020
For many U.S. cities and counties, the high number of walk-in payments and checks typically received for services, permits and fees has been aggravating but acceptable — until coronavirus struck.
PYMNTS
OCTOBER 1, 2020
As the digital revolution continues to transform the way shoppers pay for things amid the COVID-19 pandemic, Mastercard announced a free online tool to help entrepreneurs future-proof their companies. The Small Business Digital Readiness Diagnostic tool is intended to expand the New York-based global financial services company’s Digital Doors curriculum, which promises to ensure businesses have the right devices to maximize their digital presence.
Payments Source
OCTOBER 1, 2020
The ongoing pandemic and economic crisis should accelerate the adoption of payments as a service, APIs and open banking, says AFEX Americas' Christian Spaltenstein.
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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
OCTOBER 1, 2020
As major retailers get ready for a wave of October holiday shoppers, store design and safety is still top priority. Both Walmart and Target have announced new configurations and pandemic-inspired changes to keep shoppers safe. Walmart announced its design yesterday (Sept. 30), and already it has been criticized by some media outlets. In a missive from Janey Whiteside , EVP and chief customer officer of Walmart, the company outlined a fairly radical redesign that aims to direct shoppers’ movement
Payments Source
OCTOBER 1, 2020
Swift is working with more than 20 banks in its network to test a service designed to help consumers and small and medium-size companies send low-value cross-border payments with the same speed and transparency benefits larger banks enjoy on Swift rails.
PYMNTS
OCTOBER 1, 2020
The great digital shift is transforming credit cards into money management tools. In an interview with Karen Webster, Jess Turner , EVP of products and innovation for Mastercard , said the continued expansion of its Digital-First Card Program in North America helps to move the digital card beyond a mere payment instrument to a means of keeping track of what’s being spent and where, along with alerts and online access to card benefits.
Payments Source
OCTOBER 1, 2020
Goldman Sachs Group Inc. is close to signing a deal to take on General Motors Co.’s credit-card business, according to a person with knowledge of the matter.
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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
OCTOBER 1, 2020
Hopes for fresh signs of strength heading into the holiday shopping season were crimped Thursday (Oct. 1) after the first major data report of the fourth quarter showed a continuation of America’s recent economic woes. New figures from the Bureau of Economic Analysis showed that personal income fell 2.7 percent in August — its third-largest decline ever — after $600-a-month enhanced unemployment benefits ended in July.
Banking Exchange
OCTOBER 1, 2020
For the IT professionals behind the scenes there is immense pressure to maintain security and uptime Technology Retail Banking Customers People Performance Feature3 Fintech Feature.
PYMNTS
OCTOBER 1, 2020
U.K. online grocery retailer Ocado is involved in a patent lawsuit over robotically-operated warehouse technology with robotics company AutoStore , Reuters reported. AutoStore said Ocado has been a customer since 2012 and alleged that Ocado's automatic storage system is based on the ones AutoStore is already using, according to Reuters. The company, which was founded in 1996, is seeking financial damages and to bar Ocado from making and selling the products and importing them to the U.S.
Banking Exchange
OCTOBER 1, 2020
Since the Great Recession, larger banks have been cutting back their small business lending programs Community Banking Feature3 Feature The Economy Technology Covid19 PPP.
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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
OCTOBER 1, 2020
Visa and FinTech partner Novae have unveiled their revamped rewards program, dubbed My Rewards 2.0, with which loyalty points and miles can be “spent” at over 60 million merchants. It’s a loyalty program overhaul that Visa and Novae say makes them the first to market with a working digital currency based on converted loyalty points. This development could have broad implications for the use of loyalty points at a time when air travel, for example, is off the table.
BankInovation
OCTOBER 1, 2020
The Federal Deposit Insurance Corporation (FDIC) has taken steps to promote fintech partnerships and diversity and inclusion within the financial services industry, both internally at the FDIC and among the institutions it regulates, FDIC Chairwoman Jelena McWilliams said during the LendIt Fintech USA 2020 conference Wednesday. McWilliams, an immigrant to the U.S. from the former […].
PYMNTS
OCTOBER 1, 2020
As banks look to streamline access to finance or make it easier to safely share financial information with apps, Barclays Business Banking and Wells Fargo are joining forces with FinTechs on digital initiatives. Also seen in this week’s roundup of the newest collaborations is an open banking partnership between Ebury and Nexi that will allow Nexi’s partner banks to bolster their offerings for small- to medium-sized businesses (SMBs) and corporate clients.
BankInovation
OCTOBER 1, 2020
With more than one-quarter of U.S. households unbanked or underbanked according to data from the FDIC, fintechs have long promised better financial access, whether through online lending that looks beyond traditional credit underwriting or digital banking startups with fewer fees. Despite lofty promises from the financial industry, providing access to this population segment can prove […].
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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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