Perficient

DECEMBER 23, 2020

This is the third in a series of blog posts sharing the results of our study on the business value of experience design. In this post, we explore the value of knowing the industry: Applying the unique demands and challenges that the industry category brings to remain competitive and relevant. In 1944, British grad student John Hellins Quick wrote a detailed technical description of the Turbo Encabulator, a device “to measure inverse reactive current in unilateral phase detractors with display o

Industry 493

Industry Strategy Video Innovation 493

PYMNTS

DECEMBER 23, 2020

Santander Consumer USA was ordered to pay $4.7 million to the Consumer Financial Protection Bureau ( CFPB ) for violating the Fair Credit Reporting Act (FCRA), the CFPB said in a press release. According to the release, Santander allegedly knew that it provided incorrect consumer data to the three major credit reporting agencies (CRAs). Santander is an originator and servicer of non-prime auto loans and leases and provides credit information to CRAs via monthly data files, according to the CFPB

Report 356

Report Compliance Lending Online 356

Accenture

DECEMBER 23, 2020

This series of blogs looks at the opportunities and challenges associated with green finance in Southeast Asia, and draws on a recent position paper “Green Finance in Singapore and ASEAN: Opportunities and Challenges” by EuroCham Singapore and Accenture. In recent years, Singapore has positioned itself as Asia’s home for green – or sustainable – finance.….

314

314

Perficient

DECEMBER 23, 2020

The COVID-19 pandemic is driving increased focus on healthcare consumerism as patients are taking their medical care and the associated costs into their own hands. The personalization and self-service experiences that we see in other areas of daily life are now being applied to the healthcare industry with the help of AI. Recently, two of Perficient’s experts spoke about AI in healthcare consumerism at The AI Summit New York , a virtual event that exclusively focuses on the impact of AI in busin

New York 294

New York Strategy Trends Industry 294

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

Lending

PYMNTS

DECEMBER 23, 2020

We’ve all heard the horror stories. The 6-year-old who get his hands on Mom’s iPad and manages to rack up $16,000 worth of credit charges for online gaming. The teenager with a Fortnite habit who manages to clean out Dad’s checking account via the debit card linked to the gaming account. These aren’t bad kids necessarily so much as they’re kids that simply don’t know the damage they’re doing at the time.

Fintech 322

Fintech Cards FDIC Lending 322

PYMNTS

DECEMBER 23, 2020

Burger King has launched a new promotion called the "$1 Your Way Menu" and in conjunction will put $1 in some Venmo users' accounts through Dec. 28, the day the new menu takes effect, the company announced in a press release. "Unlike other value menus, all items on Burger King’s newly unveiled menu are $1 a piece — that’s it,” the release stated. “The big question now becomes, what to get?”.

social media 314

social media Miami America Capital 314

Payments Source

DECEMBER 23, 2020

While there has been a general trend of paying people faster for work already performed, starting with gig workers, COVID-19 has created (or exposed) many issues that are fueling the shift toward on-demand pay, especially for hourly workers.

Trends 149

Trends Payments 149

PYMNTS

DECEMBER 23, 2020

The Consumer Financial Protection Bureau (CFPB) has settled with student loan servicers Discover Bank , The Student Loan Corporation and Discover Products (collectively Discover) in a 2015 case for unlawful practices, and Discover will have to pay $10 million in customer redress, a press release says. The case stems from an earlier order from CFPB based on finding that Discover had been misstating the minimum amounts due on billing statements along with tax info customers needed to help get fede

Taxes 285

Taxes Analysis Payments Report 285

Payments Source

DECEMBER 23, 2020

In the early days of the pandemic, when consumers seemed loath to touch cash or a PIN pad, it seemed that PIN authentication might have had few days left. But that hasn't been the case.

Payments 122

Payments Cards 122

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

Report

PYMNTS

DECEMBER 23, 2020

If there’s one universal truth amid the pandemic, it’s that we’re all binge watchers now. We’re all consumers of media, of content, of subscriptions — and we do it all online, which means we pay for it all online. To that end, Luke Evans , director of account management and Peter Mollins , vice president of marketing at Spreedly , said "payments orchestration" can mean the difference between a merchant’s getting those digital goods to end users and allowing them to pay instantly, or losing the s

Company 274

Company Payments Fraud Online 274

Payments Source

DECEMBER 23, 2020

OPay, a Nigerian fintech startup founded by Opera, plans to expand its payments service operations to North Africa early next year after Covid-19 restrictions led to a spike in transactions on its platform.

Fintech 117

Fintech Operations Payments 117

PYMNTS

DECEMBER 23, 2020

The freelance economy is witnessing rapid growth in participation worldwide. One recent report found that 57 million freelancers are expected to operate in the U.S. in 2021, while additional research reveals that ad hoc workers already contribute $1 trillion to the nation’s economy. The freelance market is also expanding in Europe, with one study indicating that gig economy workers conduct approximately 20 percent to 30 percent of all jobs in the region.

Payments 270

Payments Study Examples Report 270

Payments Source

DECEMBER 23, 2020

As business flocks online, voice tech and social are just two of many innovations that will become stable stakes for merchants, says Hatch's Joris Kroese.

Innovation 104

Innovation Online Google Payments 104

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.

Lending

PYMNTS

DECEMBER 23, 2020

“I'm a consumer. Why should I keep coming back to you?”. The question comes from Mastercard ’s Loyalty and Engagement President Francis Hondal as she addressed the changes brought to consumers as a result of the pandemic and changes that need to be made in loyalty programs designed to attract them. Hondal said she believes it’s time to reimagine loyalty programs for 2021, especially the element of loyalty rewards.

Strategy 266

Strategy Marketing Marketing Strategies Branding 266

Payments Source

DECEMBER 23, 2020

By upgrading permissions and defining access, firms can get ahead of the new threat, says vArmour's Marc Woolward.

Fraud 121

Fraud Payments 121

PYMNTS

DECEMBER 23, 2020

PNC Financial Services Group has filed a lawsuit against Plaid in Pennsylvania federal court alleging trademark counterfeiting, trademark infringement, false advertising and other wrongdoing for reputedly using PNC’s name and logo in Plaid apps. “PNC brings this action because defendant Plaid Inc. has sought to obtain trust and consumer confidence from consumers by intentionally designing user interfaces to misleadingly suggest that Plaid was affiliated or associated with, or sponsored by, PNC

Pennsylvania 256

Pennsylvania Fraud Groups Security 256

CFPB Monitor

DECEMBER 23, 2020

On December 21, 2020, the CFPB issued its third consent order involving violations of Subpart B of Regulation E, 12 C.F.R. §§ 1005.30 to 1005.36, the Remittance Transfer Rule (“Remittance Rule”) in the last four months and fourth order since August 2019. This most recent consent order was issued against Envios de Valores La Nacional Corp. (“La Nacional”), a non-bank remittance provider that offers remittance transfers through a network of retail branches and agents to primarily Central American

Policies 78

Policies Compliance Taxes Report 78

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.

US

PYMNTS

DECEMBER 23, 2020

In the wake of the collapse of its initial public offering of stock (IPO), China’s Ant Group is scaling back the borrowing limits for some of the young users of Huabei. That arm of the financial technology (FinTech) giant offers a virtual credit card. The company said that the move was an effort to promote more “rational” spending habits among users, Reuters reported.

Groups 242

Groups Cards Regulation Fintech 242

CFPB Monitor

DECEMBER 23, 2020

The CFPB recently issued a final rule increasing the asset exemption threshold under the Home Mortgage Disclosure Act (HMDA) and a final rule increasing the asset exemption threshold for the Truth in Lending Act (TILA) requirement to maintain an escrow account for a higher-priced mortgage loan. Banks, savings associations, and credit unions are not subject to HMDA for a calendar year if their assets as of December 31, of the prior calendar year did not exceed an asset threshold.

Regulation 78

Regulation Taxes Data Lending 78

PYMNTS

DECEMBER 23, 2020

The road to mainstream acceptance of cryptocurrencies will still have its bumps, its potential roadblocks set in place from regulators. At the heart of it all might lie a jousting existential in nature — namely, between the companies that create and issue cryptos and the agencies that regulate them. And the existential conversation, and argument, centers on just what cryptos are, and what they are not.

cryptocurrency 234

cryptocurrency Security Bitcoin Regulation 234

Payments Source

DECEMBER 23, 2020

The Pittsburgh bank says the data aggregator deceptively uses PNC's logo in obtaining bank customers' login credentials.

Data 87

Data Groups Technology 87

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.

Compliance

PYMNTS

DECEMBER 23, 2020

Paychex , which provides solutions for HR, payroll, benefits and insurance, is offering users of Clover , a business management platform from Fiserv , the chance to streamline payroll services as well as time and attendance management, according to a press release. With Paychex Flex , now available via the Clover App Market , small- to medium-sized businesses (SMBs) can access tools to better manage payroll, staffing, time tracking and scheduling, budgeting time and boosting accuracy while also

Management 219

Management Tools Strategy Innovation 219

American Banker

DECEMBER 23, 2020

The legislation would let banks postpone the start date of the Current Expected Credit Losses accounting standard and delay categorizing pandemic-related loan modifications as troubled debt restructurings.

Lending 81

Lending 81

PYMNTS

DECEMBER 23, 2020

Jobless claims are slightly down for the week ending Saturday (Dec. 19), with 803,000 initial claims, a decrease of 89,000 from the previous week's revised level, the U.S. Department of Labor reported on Wednesday (Dec. 23). Forecasts anticipated 880,000 new claims for unemployment benefits. The previous week’s total was revised up by 7,000 to reach 892,000.

US 216

US Report Data Marketing 216

BankInovation

DECEMBER 23, 2020

Fifth Third Bank has inked a new deal with digital lending platform Blend to streamline the mortgage application process and eliminate paper-based, manual steps that have traditionally bogged down the home financing process. Prior to the partnership, which was announced last week, all Fifth Third’s mortgage applications were completed manually, with several mortgage loan specialists […].

Lending 69

Lending Innovation 69

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.

Lending