Mon.Jan 04, 2021

article thumbnail

A new administration spotlights cross-border payments

Payments Dive

Matt Montes is U.S. general manager at Paysend and has nearly 30 years of financial services experiences, most recently serving as president of Catalina Card Services. He founded and led AccountNow, the first online D2C prepaid debit card company in the U.S., which was acquired by Green Dot Corporation. Matt shares with us his hope for the future.

Payments 508
article thumbnail

How Implementing MSMQ Technology Improves Communication between Technologies

Perficient

Having clear and consistent communication is key to accomplishing your business goals, and it’s even more important to have open communication between your business technologies to ensure your organization continues to run as is, if not better. In modern technology architecture, performance and decoupled integration is a key factor of application development.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Here Is Our Process for PPP2 That Could Help You

South State Correspondent

Of all the lending programs in banking history, the Paycheck Protection Program (PPP) has to be one of the most complicated ever to enthrall bankers. Consider that in the next couple of weeks, banks will be: originating the second draw of PPP (PPP2) under new guidelines; originating PPP loans under the initial set of guidelines (PPP1) to include some amendments; amending PPP1 to accommodate larger amounts; forgiving PPP1 loans and setting up to forgive PPP2 loans.

article thumbnail

PayPal partners with Ingo Money on Venmo check deposit

Payments Source

PayPal’s Venmo has launched a new “Cash a Check” feature on its mobile app to some customers. The offering is made in partnership with Ingo Money and its parent, First Century Bank.

Mobile 193
article thumbnail

Elevating Accounting Practices: The Power of Outsourcing and Automation in the Digital Age

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.

article thumbnail

Here Is a Process for PPP2 That Could Help You

South State Correspondent

Of all the lending programs in banking history, the Paycheck Protection Program (PPP) has to be one of the most complicated ever to enthrall bankers. Consider that in the next couple of weeks, banks will be: originating the second draw of PPP (PPP2) under new guidelines; originating PPP loans under the initial set of guidelines (PPP1) to include some amendments; amending PPP1 to accommodate larger amounts; forgiving PPP1 loans and setting up to forgive PPP2 loans.

More Trending

article thumbnail

Should Community Banks Consider Credit Tenant Loans

South State Correspondent

A credit tenant loan (CTL) is a loan secured by the real estate pledged as collateral and the obligation of a credit-rated tenant of that real estate. These loans are a cross between a bond (because the tenant's obligation to pay rent is a senior obligation of a creditworthy obligor) and a commercial mortgage (because of the real estate collateral).

article thumbnail

AvidXchange buying Core Associates to build digital payments for construction industry

Payments Source

"The construction industry has been challenged by the pace of evolution and is still dominated by invoice and check payments," said Michael Praeger, CEO and co-founder of AvidXchange.

Industry 137
article thumbnail

A final look back at 2020: The ATM industry year in review

ATM Marketplace

Daryl Cornwell, CEO and owner of Triton Systems, a Mississippi ATM manufacturer, software, parts and service company reminds the ATM industry that 2020 may have brought COVID-19, but it also brought major changes to the ATM industry.

ATM 136
article thumbnail

How contactless payments took off in just one year

Payments Source

The year — and the coronavirus pandemic — caused a dramatic shift in attitude. Many consumers and merchants now saw contactless cards and mobile payments as a way to move ahead without the germ fears that come with touching cash and PIN pads. And even after those fears subsided, the new habits stuck around.

Payments 132
article thumbnail

Digital Transformation: Accelerating ROI and Growth in Commercial Lending

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

article thumbnail

How decentralized finance could reshape banking

American Banker

Silvergate and Avanti are among the banks pioneering the incorporation of smart contracts, cryptocurrencies and other cutting-edge instruments into mainstream financial services.

article thumbnail

2020's digital B2B transformation was just the start

Payments Source

The events of 2020 fueled new customer expectations, accelerated digital transformation and allowed B2B companies to react and deliver. But customers’ changing expectations are not going to disappear, says MSTS' Brandon Spear.

Company 128
article thumbnail

Ally Bank Awards New Years Eve 2020 Babies, Tries New Marketing Approach

Banking Exchange

The bank is giving away $250 online savings accounts to all children born before midnight on Thursday of last week Feature Financial Trends Retail Banking Feature3 The Economy Covid19.

article thumbnail

Jack Ma skips cherished TV show after Beijing tightens screws

Payments Source

Billionaire Ant Group Co. co-founder Jack Ma skipped a recent taping of an African TV program he created, spurring speculation online about his whereabouts and the outcome of an investigation into his internet empire.

Groups 112
article thumbnail

The State of Automation in Financial Services 2024 Report

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

article thumbnail

Bank Credit Losses to Hit $2.1T This Year, Research Shows

Banking Exchange

Global loan loss provisions and foregone revenue due to economic impact of pandemic will climb for the next few years Risk Management Financial Trends Duties Financial Research Feature Fair Lending Feature3 Credit Risk Consumer Compliance Covid19.

article thumbnail

Wearables take even more contact out of contactless payments

Payments Source

The pandemic may have served as a catalyst for rapid growth in contactless payments through wearable devices. It’s the combination of form and function, however, that will push wearable payments into further growth in 2021 and beyond, says Zeta's Bhavin Turakhia.

Payments 109
article thumbnail

Prepare for Second Round of EIPs, Banks Told

Banking Exchange

The ABA has urged banks to prepare as a fresh round of economic stimulus payments is rolled out Community Banking Feature3 Survival Strategies Feature Financial Trends Duties Fair Lending PPP Covid19.

article thumbnail

Amazon-Berkshire-JPMorgan health venture to shut next month

Payments Source

The planned shutdown of Haven at the end of next month marks the close of an ambitious effort that brought together titans of technology and finance but struggled to demonstrate meaningful results.

article thumbnail

Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance

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.

article thumbnail

How the new year could shake up the credit union industry

American Banker

The National Credit Union Administration may get a new leader, several institutions could seek to expand their fields of membership, and a pot banking fight may reemerge.

article thumbnail

Chase: Automation shapes 2021 savings habits

BankInovation

Automated savings are poised to grow at Chase this year as numbers of new adopters and the usage of the bank’s Autosave tool climb. Autosave is a tool that automatically transfers funds to a Chase savings account, allowing customers to choose how much to save and how often to contribute to their savings goal. Total […]. The post Chase: Automation shapes 2021 savings habits first appeared on Bank Innovation.

Tools 64
article thumbnail

D.C. banker poised to lead nation's biggest Black-run bank after merger

American Banker

Brian Argrett, whose City First Bank is being sold to Los Angeles-based Broadway Financial, would take the helm of the combined company at a time of increased national interest in reinvigorating minority-owned financial institutions.

article thumbnail

Collection Predictions 2021: Uncertainty and Opportunity

FICO

Let’s face it, 2020 didn’t turn out exactly the way any of us envisioned it. The pandemic turned most of our lives upside down. It caused devastating effects to our daily routines, our families, our schools and our economy. Within the collection industry in the United States, State and Federal Governments imposed significant constraints because of COVID.

article thumbnail

2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

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.

article thumbnail

Lenders to small landlords brace for credit losses

American Banker

The recent stimulus law’s relief for renters and extension of the federal eviction ban were meant to ward off a housing crisis. But owners of 1- to 4-unit dwellings still face mounting mortgage and property tax debts, and delinquencies could start rising soon — followed by foreclosures.

Taxes 69
article thumbnail

Ant Group obliged to stop providing other services but online payments

The Paypers

Ant Group has been ordered by Chinese regulators to drastically change its business model and return to its roots as a payment service provider, Bangkok Post reports.

Groups 69
article thumbnail

AmeriChoice FCU finds next CEO close to home

American Banker

The Mechanicsburg, Pa.-based institution's newest chief executive most recently served as an executive at another Harrisburg-area credit union.

article thumbnail

Burroughs Remote Managed Services eBook

ATM Marketplace

Get the peace of mind that comes with ongoing monitoring and support, as well as greater accountability, security, and insights. Around-the-clock monitoring allows us to resolve problems fast, reducing vulnerability and operational failures and maximizing uptime and availability.

eBook 54
article thumbnail

Top 10 Benefits of Automating Loan Modifications for Commercial Lenders

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.