Sat.Aug 15, 2020 - Fri.Aug 21, 2020

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: 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.

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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.

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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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.

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

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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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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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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.

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!

Bitcoin Daily: China Expands Digital Cash Pilot; California Bill Defining Digital Assets Moves Forward

PYMNTS

China’s Ministry of Commerce is moving forward with its plan for a digital currency, according to a report by The Wall Street Journal (WSJ).

Five Things BSA Officers Need to Know in COVID-19

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.

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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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.

IRS Sends Refund Interest Checks To 13.9 Million Taxpayers

PYMNTS

The U.S. Department of the Treasury and the IRS are planning to send out interest payments totaling $18 on average to 13.9 million Americans who filed their tax returns in the last few months, according to a press release.

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Five Things BSA Officers Need to Know in COVID-19

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.

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

Bitcoin may be only asset worth owning

Daily Fintech

Early last week, Bitcoin got a thumbs up from an unexpected source. MicroStrategy Incorporated (Nasdaq: MSTR), a publicly traded company, shook the entire crypto community when it purchased $250 million worth of Bitcoin (21,454 BTC).

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.

Buffett’s Berkshire Hathaway Dumps US Bank Stocks For Gold

PYMNTS

Berkshire Hathaway ’s unloading of billions of dollars from bank stocks is exacerbating the hurt on the nation’s biggest financial institutions, Reuters reported. Warren Buffett, the company’s chairman and CEO, has sold shares of Wells Fargo and J.P.

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Revealed! The Secrets Successful Gold Investors Aren’t Telling You

BankBazaar

India’s fascination for this precious metal only seems to be growing. Jewellery? Investment option? Not so sure, right? Here’s all you need to know. Not too long ago, gold was used as the primary currency in many places around the world. Times have changed and that is no longer true.

How COVID-19 cratered customer acquisition, profitability

Payments Source

New research finds that it's become harder than ever to acquire new customers — and equally challenging to engage newly acquired ones. Banking Fintech Mortgages Credit unions Data security Payments Coronavirus Cloud computing

East & West Stock exchange disconnects

Daily Fintech

Efi Pylarinou is the founder of Efi Pylarinou Advisory and a Fintech/Blockchain influencer – No.3 influencer in the finance sector by Refinitiv Global Social Media 2019.

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.

GetMyBoat: Why Boat Rentals Are Making A Splash This Summer

PYMNTS

Looking for a travel-related business that’s actually booming during the year of COVID-19? It’s out on the water, in rented boats of every shape and size from kayaks to luxury yachts. “We

Tips For Talking To Your Parents About Managing Their Finances

BankBazaar

Most of us dread having the money talk with our parents. But helping your parents open up about their finances will make things easier later on. Read more here. .

Have banks, fintechs compete to bring banking services to post offices

Payments Source

A pilot program that would let banks, credit unions and challenger banks bid to offer financial services within rural and inner-city post offices could be a first step in serving the underbanked while also helping to shore up the U.S. Postal Service's finances. Fintech Consumer banking

Monetary policy and happiness

BankUnderground

Philip Bunn and Alice Pugh. It has been well established that macroeconomic outcomes, such as recessions and unemployment, can have important impacts on households’ well-being. So it follows that monetary policy decisions can affect happiness too.

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.