Chris Skinner
APRIL 26, 2020
Britain’s Got Talent is running right now in the UK and I really enjoyed this comedic sketch by Baptist Minister Allan Finnegan. You may not be able to watch it in your country, so here’s the script: I’ve been married for thirty years, which means my love life is a … The post Banking is not about relationships. It’s about secrets appeared first on Chris Skinner's blog.
PYMNTS
APRIL 26, 2020
A new shopping portal by Reliance Retail initiated testing just days after it was announced that Facebook would invest $5.7 million in digital assets into JioMart , a subsidiary of Reliance. JioMart is controlled by the billionaire Mukesh Ambani, and went live in several select neighborhoods in and around Mumbai recently after a deal that gives it control of 400 million Indian WhatsApp users currently on coronavirus-induced lockdown.
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Chris Skinner
APRIL 26, 2020
Things we’re reading today include … Bank of England probes how long banks can survive the lockdown Banks paid millions in bonuses weeks before ban on cash rewards UK economy will take three years to recover from coronavirus – EY Virgin Atlantic hires bank in search for emergency funds Coronavirus: … The post Things worth reading: 27th April 2020 appeared first on Chris Skinner's blog.
PYMNTS
APRIL 26, 2020
Banks are bracing for fallout as more people struggle to make credit card payments due to lost paychecks amid the coronavirus pandemic, according to a report by The Wall Street Journal (WSJ). Credit card companies — Capital One, Discover, Synchrony — have been allowing people to pause payments for 30 days or more. Some are also reducing or forgiving late fees and eliminating interest charges.
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.
Payments Source
APRIL 26, 2020
Like other businesses, hospitals have been forced to make instant emergency changes because of the coronavirus. But many hospitals are concurrently getting a rush of demand for service with an unclear revenue stream.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
BankBazaar
APRIL 26, 2020
Credit Card EMIs are more popular than ever and why not? Plastic money has caught on and people are using it more than ever. So, how to Credit Card EMIs work? There are times when no matter where you look, all you see is some smashing discount deals on various products. What makes these discounts and offers cool? Your Credit Card, of course! If you’ve chosen the right plastic buddy, you can avail some great discounts and cashback offers too.
PYMNTS
APRIL 26, 2020
E-FRESCO , a fresh fruit virtual market, is introducing blockchain capabilities to help sustain cross-border needs, according to a report. In the U.S., Canada, the Middle East, Europe and South America, customers trying to buy fresh fruit and vegetables online through the marketplace can now use blockchain-based shipment and B2B technology. The need for that, according to founder Ammar Alshami, is rooted in the need for transparent transactions, reducing time and work put in, and less costs.
Payments Source
APRIL 26, 2020
The modern-day payment system was, over the last two decades, tailor-made for the shelter-in-place conditions many now live and work under today.
PYMNTS
APRIL 26, 2020
Corsight AI , an Israeli tech firm, raised $5 million as it develops technology to recognize people’s faces through masks, goggles or plastic coverings, according to a Reuters report. The tech is part of a larger system Corsight has developed to address the challenges of the ongoing coronavirus pandemic. The money came from investors Awz Ventures, a Canadian firm focused on intelligence and security technology.
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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
American Banker
APRIL 26, 2020
The billionaire investor and entrepreneur sees problems with small businesses having to apply for loans to get coronavirus relief. He says a more efficient approach would be to let them run negative balances on their bank accounts.
PYMNTS
APRIL 26, 2020
As the Paycheck Prevention Program (PPP) reopens on Monday (April 27) with $310 billion, Bank of America ( BoA ) chief executive officer (CEO) Brian Moynihan said he thinks Congress should make the assistance big enough to help all small businesses. . “It’s clear that between Congress, the administration and the American people, we need to get all these funded and not make this a foot race.
Payments Source
APRIL 26, 2020
Inside Citigroup's headquarters in Manhattan, executives are trying to solve a problem bedeviling much of Wall Street: How to get employees up elevators.
PYMNTS
APRIL 26, 2020
The owner of a site that wanted to sell fake coronavirus cures and accept payment in bitcoin has been seized by the U.S. Attorney’s Office for the District of Colombia. The site, coronaprevention.com, was posted on a hacker’s forum the day after the virus was declared a national pandemic by the President, according to a complaint. The owner allegedly theorized with others about potentially selling “high markup in demand products” through the site, marking the price of the domain up and reportedl
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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
APRIL 26, 2020
Inside Citigroup's headquarters in Manhattan, executives are trying to solve a problem bedeviling much of Wall Street: How to get employees up elevators.
PYMNTS
APRIL 26, 2020
Silicon Valley FinTech startup Digits announced a $22 million Series B funding round led by GV — formerly known as Google Ventures — to launch its new expense monitoring dashboard, according to a company blog post. Digits was created by the team responsible for building Crashlytics, which was sold to Twitter in 2013. Its new web application for expense monitoring is available at no charge to small businesses.
Bankelele
APRIL 26, 2020
Future of Aviation in Africa: Will it survive Covid-19? - a webinar by Invest Africa.
PYMNTS
APRIL 26, 2020
While some of the more than 200 publicly traded companies that received funds from the Paycheck Protection Program (PPP) agreed to return the millions of dollars they received after backlash, many are keeping the money, asserting that it will be used for paying furloughed employees, according to a report by The Wall Street Journal (WSJ). Cruise operator Lindblad Expeditions received $6.6 million and said it would be keeping the money.
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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.
ABA Community Banking
APRIL 26, 2020
With the SBA’s Paycheck Protection Program set to re-opening for applications tomorrow, a Maryland bank CEO this weekend recounted his bank’s experience getting up and running during the early days of the program. The post Maryland Bank CEO Reflects on First Round of PPP Applications appeared first on ABA Banking Journal.
PYMNTS
APRIL 26, 2020
Treasury Secretary Steve Mnuchin remains in good spirits over the U.S.’s economic future as summer approaches, saying the financial aid efforts thus far should help things bounce back in the long run. Mnuchin said the aid, including the $2 trillion CARES Act from March and the $484 billion bill passed last week, would yield positive results in July and onwards.
The Financial Brand
APRIL 26, 2020
While the largest banks have an advantage in being able to deliver digital banking solutions, there is still much to be done. The post COVID-19 Related Shifts in Digital Banking Behavior Favor Big Banks appeared first on The Financial Brand.
PYMNTS
APRIL 26, 2020
Banks in the U.S. are taking a cautious approach when it comes to extending loans to businesses in Europe, according to the Financial Times. The coronavirus pandemic has caused big banks like JPMorgan , Goldman Sachs and Bank of America (BoA) to reduce the size of loans or cancel funding talks. “We are increasingly observing an ‘America first’ attitude among large U.S. banks,” an adviser with direct involvement in bank negotiations with German corporates told FT in a Friday (April 24) report. “&
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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.
The Financial Brand
APRIL 26, 2020
While the largest banks have an advantage in being able to deliver digital banking solutions, others can do much to regain ground. The post Big Banks Benefiting Most From COVID-19 Digital Shifts appeared first on The Financial Brand.
PYMNTS
APRIL 26, 2020
Accounts receivable (AR) platform SurePayd is responding to the coronavirus pandemic by reducing the costs for its remote migration audit services for the next two months for companies that need to go on the cloud during the crisis, according to a press release. The company said it would make the first two months of service free, and new users would only have to pay for the monthly hosting costs and transaction fees for now.
The Financial Brand
APRIL 26, 2020
Small and midsize lenders, ready to jump in again with sweat equity, savvy and fintech help, share tips from program's first wave. The post Key Lessons for Financial Institutions Bracing for PPP Round 2 & Beyond appeared first on The Financial Brand.
PYMNTS
APRIL 26, 2020
Accounts receivable (AR) platform SurePayd is responding to the coronavirus pandemic by reducing the costs for its services to help companies migrate to the cloud and work remotely for the next two months for companies that need assistance during the crisis, according to a press release. SurePayd said moving toward the cloud for AR payment services makes sense right now.
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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.
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