Accenture
NOVEMBER 16, 2020
There’s no two ways about it: ISO 20022 is a complex new standard for financial services firms of every description. Inside that complexity lie some operational hurdles for payments players—but also tremendous opportunities. We can see why by looking at the ISO 20022 message format, which neatly encapsulates the high-level impact of the new standard.….
Perficient
NOVEMBER 16, 2020
IBM Planning Analytics Workspace Release 2.0.58 news. What’s new. IBM has released Planning Analytics AI forecasting. This has been a long-awaited feature, as Cognos Analytics has including several aspects of Artificial Intelligence for some time. The new feature can take a time-related set of data and choose from a number of forecasting methods to find the best-fit projection for the future with a confidence interval.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Accenture
NOVEMBER 16, 2020
When it comes to whether emerging technologies like artificial intelligence (AI) and blockchain are practical for equipment finance, it depends on the application. That was the key takeaway from the recent ELFA 2020 Business Live! virtual convention panel discussion I had the fortune of being a part of. I joined host Deb Reuben of TomorrowZone and fellow….
Perficient
NOVEMBER 16, 2020
On October 30, 2020, the Consumer Financial Protection Bureau (CFPB) issued a final rule that “focuses on debt collection communications and gives consumers more control over how often and through what means debt collectors can communicate with them regarding their debts.”. This is the first time the parameters under which debt collectors can operate have been updated regarding modes of communication since 1977 when the Fair Debt Collection Practices Act was enacted.
Advertisement
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
NOVEMBER 16, 2020
Real-time payments continue to gain traction around the world. Case in point: Brazil. The country’s banking system is giving an upgrade to its instant payments system. Called PIX , the new payment rails have been in the works for some time and launched last week. It will be fully operational starting Monday (Nov. 16) and has already processed 10 million transactions a day.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
NOVEMBER 16, 2020
Scooter rental startup Bird is working on a deal with Credit Suisse Group to go public, according to a report from Bloomberg. The company, based in Santa Monica, California, has spoken with some special purpose acquisition companies (SPACs) about acquisition deals, although none have reached any agreements, Bloomberg reported, and some SPACs have expressed inbound interest.
South State Correspondent
NOVEMBER 16, 2020
Office lending for banks has been one of the better-performing sectors of commercial real estate (CRE) for banks for some time. Even during the pandemic, the credit on office loans is doing surprisingly well. The question arises, what happens in the future? Will it be business as usual post-pandemic? Will companies take more space to provide for social distancing, 25% of the space as they go mainly to remote workers or 50% of the space to handle a hybrid remote work culture?
PYMNTS
NOVEMBER 16, 2020
Here’s the scenario. Consumers have cut back on travel, in-person entertainment and restaurant spend. They have paid down their credit cards. Then they will use this newfound spending power to bring a new, vengeful spending strategy to the holiday season because, after all, the American consumer deserves a few gifts after all that they’ve been through this year.
South State Correspondent
NOVEMBER 16, 2020
Between low-interest rates, the concerning rise in COVID-19 cases, and tough competition for quality commercial loans, community banking is a tough business. While there has been a nominal deterioration in credit quality thus far, a deterioration in the business environment related to the pandemic and lack of fiscal stimulus may change that. Net interest margins at community banks are declining, and the trend is likely to continue through 2021.
Advertisement
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
NOVEMBER 16, 2020
A Citibank senior analyst predicted that bitcoin could reach $318,000 by December 2021 in a report written for Citibank’s institutional clients, according to CoinDesk. Thomas Fitzpatrick’s report was leaked on Twitter Friday (Nov. 13) by user “ClassicMacro,” who noted in a tweet , “there is no edge in guessing targets so far in time with TA. All we know is that price is likely to continue going up.”.
Jack Henry
NOVEMBER 16, 2020
I really enjoy writing. So, when the opportunity to put down some words of wisdom presented itself, I jumped at the chance. But, what to write about? Let’s start with a simple question: What is the state of your financial institution’s (FI’s) mental health?
PYMNTS
NOVEMBER 16, 2020
Banks have long worked to anticipate and protect against emerging tactics of cybercriminals. Now, with the pandemic accelerating a move toward digital product acquisition, communication, purchases and money movement, financial institutions (FIs) and their clients need to be even more vigilant. Leslie Ragan manages transaction fraud prevention for Elan Financial Services , a unit of U.S.
Bobsguide
NOVEMBER 16, 2020
With the global pandemic came a global need to reorganise, replan and rethink spending for businesses across industries, as the impact of lockdowns and changing consumer behaviour was felt. While IT costs are just one element of business budgets, technology now underpins the effective function of.
Advertisement
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
NOVEMBER 16, 2020
In the wake of the 2008 global financial crisis, and banks' subsequent pullback from the small- to medium-sized business ( SMB ) lending arena, a slew of alternative lenders emerged onto the scene to fill the credit gap. Over the years, that surge in competition gave way to a more collaborative spirit between traditional financial institutions (FIs) and FinTechs as both sides worked to digitize and modernize SMB financing.
Payments Source
NOVEMBER 16, 2020
Italian technology firm Nexi has dedicated about $15 billion over the past two months to shore up its position in the European payment processing market, a local burst of consolidation that exists inside a larger wave of similar mergers globally.
PYMNTS
NOVEMBER 16, 2020
On the same day that COVID-19 cases in the U.S. topped 10 million and hit 50.5 million globally, the world got news that Pfizer and BioNTech had successfully completed Phase 3 trials of a COVID-19 vaccine on 43,000 people — and achieved an astounding 90 percent effectiveness rate. It was a day that medical scientists and epidemiologists had been awaiting for eight long months, marking a significant scientific breakthrough for the virus that hobbled the world.
Cisco
NOVEMBER 16, 2020
In this intensely competitive Financial Services market environment, Banks, Insurers, Securities & Exchanges, and Wealth Management institutions, whether a small business or global enterprise, are increasingly challenged to find the optimum balance to minimize workplace disruptions for remote workers and at brick-and-mortar office locations, protect proprietary data, and understand how hybrid cloud operating models will impact business performance.
Advertisement
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
NOVEMBER 16, 2020
WhatsApp is getting another crack at grabbing a slice of Brazil’s fast-growing payments market. Facebook ’s messaging service will soon get a green light to start providing peer-to-peer (P2P) payment services in Brazil, Roberto Campos Neto , head of the country’s central bank, said at a news conference Monday (Nov. 16), Reuters reported. Campos Neto also noted Brazil’s central bank has talked to other Big Tech firms like Google about their interest in offering instant payments services in the co
Payments Source
NOVEMBER 16, 2020
Truist Financial Corp. has hired Sal Karakaplan to head its newly formed Enterprise Payments Group, which will be responsible for driving and executing a coordinated strategy across Truist’s various payments businesses.
PYMNTS
NOVEMBER 16, 2020
Customers at 8,200 CVS Pharmacy locations can use PayPal and Venmo to pay for purchases contact-free starting Monday (Nov. 16), the retailer announced in a press release emailed to PYMNTS. The purchase process will involve scanning QR codes on mobile devices, CVS stated in the release. Loyalty program discounts will be automatically applied to purchases at the time of sale.
Payments Source
NOVEMBER 16, 2020
Mastercard says it has been notified the Department of Justice has approved its planned acquisition of data aggregator Finicity, putting the card brand on track to close the deal before the end of the year.
Advertisement
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
NOVEMBER 16, 2020
American Express is teaming up with PayPal and Venmo to offer a new way for their customers to send money, split purchases and manage their expenses. The new program enables American Express consumer cardholders to use the new Amex Send & Split service, according to a news release. Cardholders will be able to send money to any PayPal or Venmo customer directly from the American Express App.
Payments Source
NOVEMBER 16, 2020
It will take years to fully complete the project, but Mastercard has announced the availability of real-time account-to-account corporate payments for U.S. firms through its Mastercard Track Business Payment Service (BPS), with plans to add cross-border payments next year.
PYMNTS
NOVEMBER 16, 2020
Payments speed is a crucial consideration for today’s consumers and microbusinesses when receiving disbursements, with PYMNTS’ research finding that more than half of the former and roughly 70 percent of the latter say they received at least one nongovernment payment within the past 12 months. These disbursements are sent using a variety of methods, but approximately half of them leverage legacy payment options such as automated clearing house (ACH), checks and cash.
Payments Source
NOVEMBER 16, 2020
Despite tangible evidence dispelling that it's hard to find Black talent, the financial services have yet to crack the code when it comes to building a representational workforce. But is it a sufficient solution on its own?
Advertisement
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.
Expert insights. Personalized for you.
545 
Let's personalize your content