August, 2020

Cashless shouldn't leave underbanked behind

Mobile Payments Today

Cash and digital payments shouldn't be mutually exclusive, according to Steve Villegas, VP of Payment Partnerships, North America at PPRO. He shares his thoughts on how COVID-19 has impacted cashless society and why it shouldn't leave behind the unbanked

A how-to guide for monetizing Open Banking

Accenture

In my last post, I shared the two emerging business models that are powered by Open Banking: banking as a platform and banking as a service. The future of any Open Banking offering will depend on the value it provides or the monetization options it creates. Participants can bundle or unbundle offerings and services. The post A how-to guide for monetizing Open Banking appeared first on Accenture Banking Blog. Payments Banking Business Models Fintech Open Banking

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Here is the Biggest Problem Banks Face with PPP Forgiveness Processing

Banker to Banker

There is no surprise that you can only do so much when it comes to educating PPP borrowers.

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Things worth reading: 3rd August 2020

Chris Skinner

Things we’re reading today include … Bakery manager sacked for using own bank card to help elderly customers blocked from paying with cash Lloyds bank manager ‘sacked for helping customer open mail’ Monzo’s losses double as popular UK digital bank warns of pandemic uncertainty Canary Wharf Group recalls staff to … The post Things worth reading: 3rd August 2020 appeared first on Chris Skinner's blog. Reading

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Intelligent Process Automation: Boosting Bots with AI and Machine Learning

Across all sectors, companies are learning that they can transform their businesses by embracing Intelligent Process Automation, or IPA. With the pairing of AI and RPA, IPA adds a new layer of intelligent decision-making processes to automated RPA tasks. By automating repetitive work, and adding the ability to automate intelligent decision making, intelligent automation frees up your most valuable resources – your employees – to spend more time on higher value and more strategic work. But in order to reap the rewards of Intelligent Process Automation, organizations must first educate themselves and prepare for the adoption of IPA. In our ebook, Intelligent Process Automation: Boosting Bots with AI and Machine Learning.

Invoice Fraud Strikes Amazon In $19M Scam

PYMNTS

In a case that highlights how anybody — truly, anybody — can be a victim of invoice fraud, federal officials have reportedly charged two brothers in New York State for an alleged $19 million scam targeting Amazon.

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More Trending

Covid-19: The digital acceleration it caused that no one saw coming

Mobile Payments Today

Steve Villegas, VP of PPRO takes a look at an unexpected result that has come from the coronavirus pandemic: an increase in e-consumers, including older shoppers that have now embraced the digital world

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Open Banking: The right KPIs for business value

Accenture

In my last post, I talked about the importance of identifying and measuring the right key performance indicators (KPIs) to track the success of Open Banking initiatives.

Early Data on PPP Forgiveness Processing

Banker to Banker

Without approving the HEALS or HERO Acts, Congress gave little reason for banks to delay their Paycheck Protection Program (PPP) Forgiveness program. As such, many banks, like ourselves, launched on the 10 th.

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The Finanser’s Week: 27th July 2020 – 2nd August 2020

Chris Skinner

The main blog headlines are … What’s the impact of coronavirus on FinTech? Someone asked me what the coronavirus pandemic means for the future of FinTech. I guess they thought that not much is happening and many firms will shutter and close. However, some may think that times are dull … The post The Finanser’s Week: 27th July 2020 – 2nd August 2020 appeared first on Chris Skinner's blog. Blog Index Grid Reading

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The Best Sales Forecasting Models for Weathering Your Goals

Every sales forecasting model has a different strength and predictability method. It’s recommended to test out which one is best for your team. This way, you’ll be able to further enhance – and optimize – your newly-developed pipeline. Your future sales forecast? Sunny skies (and success) are just ahead!

Report: $50B In Cryptocurrency Moved Out Of China

PYMNTS

More than $50 billion of cryptocurrency was transferred from virtual wallets in China to other parts of the world last year, a potential violation of the nation’s strict limits on how much money can be sent abroad, according to a new report.

Top 5 Regulator Hot Topics During COVID-19 and Beyond

Abrigo

Key Takeaways FinCEN and federal regulatory agencies have been increasingly transparent in the first three quarters of 2020. Regulatory agencies understand that these are different times and are prepared to be more flexible in their examination.

Encouraging millennials to use` digital revolving credit solutions

Mobile Payments Today

Millennials have grown up with technology and generally avoid traditional credit cards in favor of digital payments. Tim Harris, CEO of FuturePay outlines how to interest this group in digital revolving credit solutions

Open Banking: Measuring success to drive value

Accenture

Open Banking has become a global movement driven by regulatory, customer and ecosystem forces, each shaping the outcomes of a bank’s Open Banking initiatives.

How Banks Are Winning with AI and Automated Machine Learning

Banks have always relied on predictions to make their decisions. Estimating the risks or rewards of making a particular loan, for example, has traditionally fallen under the purview of bankers with deep knowledge of the industry and extensive expertise. But times are changing. Today, banks realize that data science can significantly speed up these decisions with accurate and targeted predictive analytics. By leveraging the power of automated machine learning, banks have the potential to make data-driven decisions for products, services, and operations. Read the white paper, How Banks Are Winning with AI and Automated Machine Learning, to find out more about how banks are tackling their biggest data science challenges.

Ripple debuts digital ID project with 40 companies on board

Payments Source

By slicing clutter out of international payments, Ripple managed to turn rivals into partners once before. It hopes a hunger for sharable authentication can make that happen again. Personally identifiable information Blockchain Ripple Digital ID

How To Project Credit Quality In the Age of Covid-19

Banker to Banker

Community banks face a new and unfamiliar underwriting risk – an epidemiological disruption that has limited visibility and short history that affects both free cash flow and collateral values.

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Fed Exploring ‘Hypothetical’ Digital Currency

PYMNTS

Digital dollars on the horizon? Maybe – but first comes a focus on policy.

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5 Ways Your Transaction Monitoring System Can Detect COVID-19 Related Fraud

Abrigo

Key Takeaways COVID-19-related fraud are not new typologies; they just have a new spin. Update your spike or anomaly scenarios to detect increases (or decreases) in aggregate transactions. Adjusting your velocity scenarios can help detect money mule scams and check fraud. .

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B2B Pocket Playbook: End-to-End Guide to Sales Enablement

Sales enablement is the strategic process of providing sales teams with the content, guidance, and mentorship needed to engage targeted buyers. It’s all about equipping sales professionals with the tools they need to put their best-selling foot forward. And if sales teams want to continuously sell better -- and faster -- their sales enablement process must have a game-winning strategy. It's time for you to start selling smarter - and hitting your sales number - with the best B2B database in the market. Get started today.

The great digital migration: 78% of consumers are changing payment methods

Mobile Payments Today

Visa's Back to Business global study reveals small businesses and consumers, from around the world, that may initially been reluctant to adopt digital technology are now embracing it. But will this digital landscape remain in place for the future

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Banks should capitalize on saved time to empower RMs

Accenture

No matter what job you have, time is your most precious resource. For relationship managers (RMs) in commercial banking, this is certainly true.

Rebeca Romero Rainey: Cornerstones of the community

Independent Banker

“As the cornerstones of the community, community bankers offer a light in the darkness of hard times.”. September traditionally acts as “back to school” month, where, after the slower-paced dog days of summer, we settle back into our normal routines.

Latin American mega-retailer reaches underbanked with cross-brand financing app

Payments Source

Unicomer Group, Latin America’s equivalent of Best Buy, has teamed up with YellowPepper to develop a digital credit app that acts as a financial services center for underbanked and unbanked consumers. Fintech Latin America Digital payments Point-of-sale Retailers Mobile wallets

How Banks Are Winning with AI and Automated Machine Learning

Banks have always relied on predictions to make their decisions. Estimating the risks or rewards of making a particular loan, for example, has traditionally fallen under the purview of bankers with deep knowledge of the industry and extensive expertise. But times are changing. Today, banks realize that data science can significantly speed up these decisions with accurate and targeted predictive analytics. By leveraging the power of automated machine learning, banks have the potential to make data-driven decisions for products, services, and operations. Read the white paper, How Banks Are Winning with AI and Automated Machine Learning, to find out more about how banks are tackling their biggest data science challenges.

Google Asks FCC For OK To Test 6G Service

PYMNTS

Google is asking the Federal Communications Commission (FCC) for permission to hold radio experiments “in and near the 6 GHz band,” according to a recent filing with the agency.

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5 Ways Your Transaction Monitoring System Can Detect Covid-19 Related Fraud

Abrigo

Key Takeaways BSA officers need to stay aware of emerging fraud trends that are a result of the pandemic. Consider a risk-based lookback for your PPP portfolio to fight fraud. Embrace technology to help your department and institution successfully shift to remote work.

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Retail consumers and the reason they use and love Bitcoin

Mobile Payments Today

Bitcoin has been a part of the financial marketplace for some time and has grown in popularity, especially amongst millennials and the unbanked. Marc Gren, co-founder and president of DigitalMint shares his thoughts on this topic

Banks face an imminent credit crisis

Accenture

The likelihood of a quick, V-shaped COVID-19 economic recovery is fading in many countries. The impact of the downturn—lower incomes, further job losses, diminished demand and more—is likely to endure, driving many consumer and business borrowers into default.

Pressure Points: How to Ensure Your B2B Pipeline Passes Inspection

This eBook highlights best practices for developing a pipeline management process that helps sales leaders and their team C.L.O.S.E (you’ll see what we mean in this eBook) more revenue through data-driven prospecting, stage analysis, and subsequent sales enablement.