Payments Dive
APRIL 2, 2020
The debate over whether cash can continue amid growing acceptance of digital payments is a flawed debate, according to PPRO. The best analysis shows that digital commerce and cash need to work in tandem to serve a wide variety of consumers and businesses.
Abrigo
APRIL 2, 2020
Key Takeaways Elderly persons are more susceptible to fraud during crises like the coronavirus pandemic. The BBB Senior Medicare Patrol issued a COVID-19 Consumer Tip Sheet to protect potential targets of these scams. Train your frontline staff to recognize the red flags of potential elder financial abuse. As the coronavirus pandemic takes a powerful hold on the United States, illicit activity such as cybercrime, check fraud, and other scams are rapidly increasing and is expected to continue th
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Chris Skinner
APRIL 2, 2020
There’s a new edition of The FinTech Times that has just been released. It was designed to coincide with the Spring events in Asia that would be kicking off round about now but, as most of you now know, all events have been postponed. Nevertheless, with contributions from 11:FS, WeBank, … The post Everything FinTech Asia, with contributions from Ant Financial and WeBank appeared first on Chris Skinner's blog.
Bank Innovation
APRIL 2, 2020
Vanguard Group and Ant Financial’s joint venture is rolling out a new robo adviser to target the Chinese fintech giant’s 900 million users, a first step in winning a slice of the nation’s fast growing asset management business. The venture started offering an automated service called “Bang Ni Tou” (Help You Invest), to capture people […].
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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
APRIL 2, 2020
Things we’re reading today include … JPMorgan on collision course with US Treasury over rescue loans 130K inquiries, 1K loans: why UK government had to tweak help for small firms Denying coronavirus loans ‘completely unacceptable’ banks told Loan and credit card payments to be frozen for three months in UK … The post Things worth reading: 3rd April 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.
PYMNTS
APRIL 2, 2020
The universal characteristics of the coronavirus are change and speed. The virus is spreading quickly around the globe, of course, and has abruptly changed life for billions of people. And in an interview with Karen Webster, Chris Caton, senior vice president and head of global strategy and analytics at Prologis , supply chains are about to change as well.
Bank Innovation
APRIL 2, 2020
Microsoft Excel’s budgeting features received a major overhaul this week to become a full-service personal finance management tool through data aggregator Plaid, which connects banks with third parties to deliver financial information on behalf of consumers. The new service is called “Money in Excel.” “We believe every company will become a fintech company in some […].
PYMNTS
APRIL 2, 2020
Facing an economic emergency tipped off by the unprecedented coronavirus pandemic landing on American shores, the federal government in an uncharacteristic burst of speedy bi-partisan cooperation passed the $2.2 trillion CARES Act , a massive stimulus effort meant to keep citizens and businesses whole and afloat while the world rides out the outbreak.
Bank Innovation
APRIL 2, 2020
When you combine a fully remote workforce with an all-digital customer base, IT complexity and systemic risk ramp dramatically. Financial institutions need to ensure devices used by remote workers are accessible and controlled by the IT department, especially for high-performance and zero-downtime desktops, including trader and financial analyst workstations.
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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
APRIL 2, 2020
Financial institutions (FIs) face a perennial challenge in their day-to-day operations — convincing customers to use their products and services rather than a competitor’s. This issue is present in almost every industry, as the $70.3 billion spent on TV advertising in 2019 illustrates. FIs have an intrinsic advantage in offering customers the right products at the right times, however.
Bank Innovation
APRIL 2, 2020
Representatives for venture-backed startups are pushing for the companies to get access to $349 billion in small business loans authorized by Congress as part of its economic relief plan for Covid-19. So far it appears that many such businesses won’t qualify. On Tuesday, the Treasury Department and the Small Business Administration provided new details about […].
PYMNTS
APRIL 2, 2020
Australia’s national science agency plans to test a pair of vaccines over the next 90 days, part of a global race to stop the coronavirus pandemic. As researchers scramble for a cure, a doctor featured in “Pandemic,” a Netflix documentary, announced his team may have discovered a coronavirus cure which will now be tested by the U.S. military. DW.com, Germany’s international news outlet, reported the Australian government scientists have begun the first stages of testing for a potential vaccine a
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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
APRIL 2, 2020
New Hampshire FinTech Bottomline Technologies has launched a free initiative to help the nation’s banks provide relief to small businesses hurt by the COVID-19 pandemic. On Thursday (April 2), Bottomline Technologies announced it will offer lenders a simplified Small Business Administration (SBA) loan application platform to originate credit online under the “Paycheck Protection Program.”.
Bobsguide
APRIL 2, 2020
Insurtechs may suffer short-term losses from the coronavirus outbreak, but stand to gain in the long-term due to an increased need for digital offerings. Conversely, traditional insurers may face long-term disruption to business models, according to Johnny Stubbs, UK head of insurance and.
PYMNTS
APRIL 2, 2020
Though the phrase “new normal” has gotten thrown around a lot lately, in many ways it is something of a misnomer. Here on the ground in the U.S., things are very far from normal – new or otherwise – with businesses closed, employees working remotely and people sequestered in their homes for at least the next month. Consumers are concerned for their futures – both health-wise and economically – and over a quarter of American small businesses don’t think at this point that they will reope
BankBazaar
APRIL 2, 2020
Last week, the RBI allowed all lending institutions to offer a three-month moratorium to borrowers on repayment of all term loans including Credit Card dues. Read this to find out what your bank is offering. There’s no denying that the COVID-19 pandemic has dealt a major blow to the economy. From marquee airlines announcing big paycuts in employee salaries to major businesses shutting shop, the loss of income has made it difficult for many to service their debt burden.
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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
APRIL 2, 2020
Non-bank lenders are on shaky ground as they face the prospect of mortgage payment forbearance with the ongoing coronavirus pandemic, which could end up costing them $12 billion per month, according to the Financial Times. They’re feeling pressure from financial institutions and could face ratings downgrades, with Moody’s switching its forecast from “stable” to “negative” for U.S. firms on Thursday (April 2).
ABA Community Banking
APRIL 2, 2020
The Small Business Administration today issued an interim final rule that provides additional implementation guidelines and requirements for its Paycheck Protection Program to aid small businesses hit hard by the COVID-19 crisis. The post SBA Increases Rate, Clarifies Terms on Paycheck Protection Program Loans appeared first on ABA Banking Journal.
PYMNTS
APRIL 2, 2020
Amid a climate in which cash needs are on the rise, it’s been reported that Kabbage Inc. has abruptly cut off credit to small business customers. Borrowers, who realized the credit lines were halted when they signed onto their accounts, claim the company did not provide them with notice, according to a Bloomberg report. Georgia-based Kabbage claims it has provided small business borrowers with over $9 billion in loans as of its 2009 establishment.
Bobsguide
APRIL 2, 2020
Uncertainty around Brexit, oil wars and America’s multiple trade disputes have been complicating firms’ ability to manage cash flows and prepare treasury plans, but many of these issues have been totally overshadowed by the devastating emergence of COVID-19. Finance and treasury.
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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
APRIL 2, 2020
As millions of people lose paychecks amid the coronavirus pandemic, some 48 million renters have missed their April 1 payments, causing financial trouble for mom-and-pop landlords, according to a CNBC report on Thursday (April 2). . Property management firm Avail said there are about 8 million individual landlords in the U.S. that own 10 rental properties or less — roughly 50 percent of rental properties nationwide. .
Payments Source
APRIL 2, 2020
Amid the worldwide coronavirus crisis, making cross-border payments to emerging markets has been akin to putting together a jigsaw puzzle without many of its pieces.
PYMNTS
APRIL 2, 2020
Competition for customers — especially millennials — from larger banks and FIs has long required credit unions to keep pace with their more innovative counterparts. This often means providing digital solutions and convenient banking options despite smaller technology and innovation budgets, however. Security is an ongoing concern as well, with countless fraudsters set on hacking CUs to obtain customers’ data.
American Banker
APRIL 2, 2020
Many bankers find crucial parts of the SBA effort to help businesses hurt by the coronavirus outbreak to be unclear and onerous. If those issues go unresolved, participation could suffer.
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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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