Sun.Apr 05, 2020

The ugly, the bad and the good

Chris Skinner

It’s interesting that governments around the world have announced huge stimulus packages to protect workers, small businesses and life in general. Trillions of dollars. Great. The reality is that no one is getting it. You see these announcements and try to get hold of the bank to get the stimulus.

Coronavirus Has Shut Down 25 Pct Of US Economy

PYMNTS

Some 25 percent of American businesses have gone dark due to the coronavirus pandemic, according to an analysis in The Wall Street Journal (WSJ). The analysis by Moody’s Analytics was done at the request of the WSJ and offers a deep dive into the U.S. economy since it shuttered about three weeks ago.

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Things worth reading: 6th April 2020

Chris Skinner

Things we’re reading today include … Banks welcome Chancellor’s revamp of coronavirus loan scheme CEO of Santander says bank is taking measures to limit coronavirus impact Are banks making a profit from the coronavirus crisis?

BoA Receives $6B In SMB Loan Requests Within Hours

PYMNTS

Banks were supposed to start taking applications for the Paycheck Protection Program (PPP) on Friday (April 3), but among the bigger U.S. lenders, only Bank of America (BoA) and JPMorgan Chase were able to launch — and were swamped by applicants, according to a report by CNBC.

ABCs of Data Normalization for B2B Marketers

Data normalization. It’s not a far stretch to suggest that the topic isn’t exactly what gets marketers excited in their day-to-day workflow. However, if lead generation, reporting, and measuring ROI is important to your marketing team, then data normalization matters - a lot. In this eBook, we’ll break down the ins and outs of data normalization and review why it’s so critical for your marketing strategies and goals!

Visa, U.S. Secret Service predict waves of new coronavirus-based fraud

Payments Source

The potential for fraud fueled by the coronavirus pandemic, coupled with the anticipation of a $2 trillion stimulus, is creating such a lucrative opportunity for scammers that Visa and the Secret Service are predicting a wave of unprecedented levels of fraud. Payment fraud Fraud Coronavirus Visa

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More Trending

Could Bitcoin on DeFi displace banks? Yes.

Daily Fintech

Decentralized Finance (DeFi) is building a new financial system. The DeFi movement is picking up steam. DeFi has been successful in remittances, loans, stable coins, and other core elements of the fiat world.

Bumpy First Days As Banks Grapple With SMB PPP Demand

PYMNTS

Call it a bumpy beginning — and that’s a charitable statement. Friday, banks and other lenders officially opened the gates for applications to the Paycheck Protection Program (PPP) to relieve some of the burden brought on by the coronavirus pandemic.

Battling cloud breaches requires a new type of 'privilege'

Payments Source

The most effective way to avoid cloud payment breaches is by dramatically reducing access, says CloudKnox Security's Balaji Parimi. Payment fraud ISO and agent Data breaches Payment processing Merchant

Google Maps Adds Shortcuts To Restaurants Offering Delivery, Takeout

PYMNTS

To help people staying home during the coronavirus pandemic, Google Maps is spotlighting local restaurants open for pickup and delivery, according to a report in 9to5Google.

Google 186

The 2019 Technographic Data Report for B2B Sales Organizations

In this report, ZoomInfo substantiates the assertion that technographic data is a vital resource for sales teams. In fact, the majority of respondents agree—with 72.3% reporting that technographic data is either somewhat important or very important to their organization. The reason for this is simple—sales teams value technographic data because it makes essential selling activities easier and more efficient.

Midsize Banks Lead Way on Small Business Loans, Big Banks Follow

Banking Exchange

While regional banks were embracing small business loans, the U.S.

Sage, Trintech Build Data Integration For Faster Financial Close

PYMNTS

Record to Report software provider Trintech has partnered with Sage in order to collaborate on new, speedier financial close processes, a press release states.

Dallas 186

COVID-19 Insurance Policies That You Need To Know About

BankBazaar

The COVID-19 pandemic has put an unprecedented number of people in need of medical attention across the world. Insurers in India have taken a cue and launched insurance products to respond to this need. Here are COVID-19-specific insurance policies currently available in India. .

Biotech, Augmented Reality Startups Test Investment Appetite With IPOs

PYMNTS

Two initial public offerings (IPOs) are testing investors’ appetites amid the coronavirus pandemic, according to statements from Zentalis Pharmaceuticals and WiMi Hologram Cloud. Zentalis Pharmaceuticals, a biotech group based in San Diego, California, raised about $165 million.

The Time-Saving Power of Intent Data for Sales

By using the power of intent data, capturing buyer interest has become more feasible for sales. Not only that, but using it will save immense time during your workflow; a win-win on all fronts.

Emergency loan program could run out of money in early June: Rubio

American Banker

Marco Rubio, R-Fla., said that $349 billion will likely not be enough meet loan demand from small businesses seeking a lifeline to help them weather the economic downturn brought on by the coronavirus outbreak.

Bitcoin Daily: Ping An’s FinTech Arm Teams Up To Launch Blockchain Solution; CFTC Calls For Default Ruling For Alleged Ponzi Scheme Founder

PYMNTS

OneConnect Financial Technology and China Merchants Port Group ( CMPort ) will work to create a blockchain-based system with Shenzhen customs to serve the Guangdong-Hong Kong-Macao Greater Bay Area.

Banks’ considerations for the end of covid-19 lockdown

The Bankwatch

Introduction. As mentioned by Zanny Minton-Beddoes, Editor-in-Chief, The Economist, today on Fareed Zakaria, (CNN) most people understand the logic and need for the Lockdown. But she went on to say, there is no clear way out of it, and a return to normal. The defining model that shook the UK and US governments was produced by Imperial College by the team led by Dr Neil Ferguson. That document indicated with no mitigating effort, the US would see 2,200,000 deaths, and UK would see 550,000 deaths.

Switzerland Issues $15B In SMB Loans Within First Week Of Launch

PYMNTS

Switzerland is in the midst of an economic surge compared to other coronavirus-ravaged countries, with fast and efficient loans making the difference, experts say. Applicants trying to get loans from Swiss institutions have a remarkably easy time of it compared to many comparable countries.

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How ZoomInfo Enhances Your Database Management Strategy

Forward-thinking marketing organizations have continuously invested in a database strategy for enabling marketing processes. Download this ebook to learn how to maintain a strategy that includes refreshed information, database cleanses, and an accurate analysis at the same time.

How banks prepared call center reps to handle surge in volume — from home

American Banker

Ally, Discover and USAA have made technological, managerial and policy changes to help their centers' employees cope with the rush of calls from customers hurt by the pandemic. Voice Recognition Coronavirus Customer service

Nationwide Says Business Banking Plans No Longer Viable

PYMNTS

British lender Nationwide Building Society has curbed its plan to begin a business banking venture, saying the coronavirus has made that field nonviable for the time being.

Metro 164

Coronavirus: PM Unveils Tk. 72,750 crore Total Incentive Package

FluentBanking

Prime Minister Sheikh Hasina has announced a total incentive package of Tk72,750 crore to overcome the possible economic impact on the country due to the outbreak of the novel coronavirus.

EU Planning For Transition Out Of Lockdown

PYMNTS

European countries, including France, Spain, Belgium and Finland, among others, have begun tentatively etching out potential ways to ease social distancing requirements for the coronavirus pandemic over the next few months, according to the Financial Times.

Study 161

How ZoomInfo Enhances Your ABM Strategy

For marketing teams to develop a successful account-based marketing strategy, they need to ensure good data is housed within its Customer Relationship Management (CRM) software. More specifically, updated data can help organizations outline key accounts for their campaigns. And to begin the targeting process, marketing teams must develop an Ideal Customer Profile (ICP) with appropriate firmographic and behavioral data to ensure they’re going after the correct audience.Download this eBook to learn how to start improving your marketing team's data!

Short Notes for DAIBB-Management of Financial Institution: MICR

FluentBanking

MICR (magnetic ink character recognition) is a modern technology used to verify the legitimacy or originality of paper documents, especially cheque. A special ink, which is sensitive to magnetic fields, is used in the printing of certain characters on the original documents.

Global Bankers Release $500B In Capital To Facilitate Lending

PYMNTS

Financial regulators have made $500 billion in capital available for lenders around the world , which gives lenders the freedom for another $5 trillion of loans around the world to go toward cushioning the blow the coronavirus has dealt to the world’s economy.

Short Notes for DAIBB-Management of Financial Institution: Payment in Due Course

FluentBanking

Payment in due course means payment in accordance with the apparent tenor of the instrument in good faith and without negligence to any person in possession thereof under circumstances, which do not afford a reasonable ground for believing that he is not entitled to receive the amount therein mentioned.

Fed’s Bullard Puts Positive Spin On Economy Despite Steep Job Losses

PYMNTS

Despite the coronavirus’ rampant shifts to the U.S. economy, St. Louis Federal Reserve President James Bullard says he doesn’t think the situation is a plummeting “free fall” as others have speculated.

Data-Driven Marketing 101

This eBook highlights how data-driven strategies empower marketing campaigns through personalization tactics.