A future look back at how COVID-19 changed the payments space
Mobile Payments Today
JUNE 9, 2020
PPRO takes a future view of how COVID-19 may permanently change the payments landscape
Mobile Payments Today
JUNE 9, 2020
PPRO takes a future view of how COVID-19 may permanently change the payments landscape
Abrigo
JUNE 12, 2020
Key Takeaways The soon-to-begin Main Street Lending Program (MSLP) aims to fulfill a need for mid-sized businesses to access relief funds amid the coronavirus pandemic. The MSLP was introduced in April, but the scope of the program has changed several times to increase participation. The latest changes include lowering the minimum loan size, raising the maximum loan size, extending the maturity of each loan option, and increasing participation from the Reserve Bank.
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PYMNTS
JUNE 12, 2020
As the use of mobile banking apps surges due to the limited access to banks amid the COVID-19 pandemic, the FBI is warning users to beware of cyber attacks.
Chris Skinner
JUNE 8, 2020
I blog about so many things. Sure, most of the time it’s FinTech, banking and technology. Sure, most of the time it’s about the future, the outlook, the ideas. But quite often I find myself returning to topics that I’m passionate about: diversity, equality, inclusion, climate protection, the future, our … The post FinTech can’t tackle financial services without tackling its diversity problem appeared first on Chris Skinner's blog. Fintech Grid
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Mobile Payments Today
JUNE 12, 2020
Over the next 18 months, Starbucks will increase convenience-led formats in company-operated locations with drive-thru and curbside pickup options, as well as its Pickup locations, according to a filing with federal regulators
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
JUNE 8, 2020
United Nations global blockchain expert Massimo Buonomo has foreseen a future where digital currencies could replace low-interest bank accounts, Coindesk reports. Low interest rates, he said, were the main enticement for people to come and join a new bank — but they would be obsolete in competition against an official digital currency, which could easily process a digital payment the same way.
Chris Skinner
JUNE 7, 2020
Things we’re reading today include … You may be in love, but you should always have your OWN bank account Bank boss tells lenders to be ready for no-deal Brexit Digital IDs could end the need for in-bank visits and banish passwords £36bn of government-backed loans will be toxic, taskforce … The post Things worth reading: 8th June 2020 appeared first on Chris Skinner's blog. Reading
Accenture
JUNE 9, 2020
In my previous posts in this series, I talked about the importance of getting technology, security, operating models and governance right when navigating the Open Banking journey. An equally crucial factor is the activation of the ecosystem. Open Banking requires and depends on partnerships—from suppliers to business collaborators and from vendors to customers. Banks have…. The post Open Banking—where partnerships are required appeared first on Accenture Banking Blog.
Payments Source
JUNE 9, 2020
Identity fraud holds no prisoners when it comes to payments. If a fraudster gets hold of a consumer's credentials, everything from mobile wallets, to a checking account, savings account or P2P account is in jeopardy of takeover. Personally identifiable information Payment fraud Biometrics Credit cards
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PYMNTS
JUNE 12, 2020
Trillions of dollars in federal COVID-19 stimulus payments are being disbursed through paper checks, prepaid debit cards and direct deposit
Chris Skinner
JUNE 9, 2020
I was recently asked to respond to the idea that men are not supporting diversity enough. It was for a blog update by Darren Franks on his website talentinthecloud.io. Of course, I said yes. Here’s the result … FinTech needs more men! Yes, you read this right, the FinTech sector … The post FinTech needs more men! appeared first on Chris Skinner's blog.
Daily Fintech
JUNE 7, 2020
We are a the dawn of a new age, with tokens. From art to buildings, to the way we invest in assets, tokenization is changing everything. The new “token economy” promises to change how we create and distribute value. Asset tokenization is disrupting finance and several other industries, breaking up ownership into fractional stakes that can be owned by multiple parties. This new ecosystem is already taking us in directions we can’t even imagine.
Payments Source
JUNE 10, 2020
As innovation proceeds faster than expected, small firms will need to work with larger firms to meet the new demand, sayd DealRockit's David Carmell. Fintech B-to-B payments Coronavirus Payment processing
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PYMNTS
JUNE 10, 2020
TikTok , the popular Chinese short-form mobile video app, is facing more scrutiny over its privacy policies, Bloomberg reported. The EU’s investigative unit will form a task force to examine TikTok’s activities across the 27-nation bloc following a request from a lawmaker concerned about its data collection and its security and privacy risks. EU authorities can fine companies for violations under the General Data Protection Regulation (GDPR).
Chris Skinner
JUNE 6, 2020
The main blog headlines are … No one changes behaviour … unless forced to I see lots of surveys and research about the use of technology in finance. Things like 47 percent of consumers are interested in biometric payments or 80 percent of consumers would use mobile payments. Then you … The post The Finanser’s Week: 1st June 2020 – 7th June 2020 appeared first on Chris Skinner's blog. Blog Index Grid Reading
Daily Fintech
JUNE 8, 2020
I had the pleasure to attend some sessions from the Mainnet 2020 event last week. Ryan Selkis `s guitar playing as an alternative signal to wrap up the talk or the panel, was one of my favorites. Efi Pylarinou is the founder of Efi Pylarinou Adv is ory and a Fintech /Blockchain influencer – No.3 influencer in the finance sector by Refinitiv Global Social Media 2019. Messari , looks like a data, news, research business in the cryptocurrency, blockchain space.
Payments Source
JUNE 10, 2020
The coronavirus dealt a double blow to procurement, cutting off both goods and money. Banks and e-commerce firms are relying on partnerships to tweak payment tools to rescue the market. Fintech Online payments Digital payments B-to-B payments Alibaba Coronavirus
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PYMNTS
JUNE 11, 2020
Singapore-based cross border-payments platform TranSwap will partner with Currencycloud , which provides B2B embedded cross-border solutions, to let businesses collect and hold numerous currencies in the U.S., U.K., EU and other countries, a press release states.
Chris Skinner
JUNE 9, 2020
Things we’re reading today include … UK banks approve £35bn in state-backed loans amid heavy demand Exclusive: Banks to Berlin – Loosen coronavirus cash rules for firms Turkey joins settlement house Euroclear after 8-year talks Pompeo chides HSBC for ‘corporate kowtow’ to Beijing Amanda Staveley exaggerated role in Barclays rescue, … The post Things worth reading: 10th June 2020 appeared first on Chris Skinner's blog. Reading
Accenture
JUNE 12, 2020
Key themes In Q1 2020, the impacts of COVID-19 on issuer earnings were still relatively mild in terms of portfolio growth and losses. However, charge-off reserves spiked due to expected future losses, which caused negative returns for most issuers. YoY growth in receivables for Q1 2020 was modest at 1.9%, and below the 4% YoY…. The post Q1 2020: US credit card issuer snapshot appeared first on Accenture Banking Blog. Payments Credit Card Issuer Snapshot Credit Cards Payments Navigator
Abrigo
JUNE 10, 2020
Key Takeaways The recent case where a former top risk officer was fined reminds financial institution executives and BSA professionals of the personal liability tied to implementing and maintaining effective AML programs. The former Chief Operational Risk Officer was fined for insufficient action on AML program deficiencies and staffing issues. Adequately staffed and risk-focused AML resources with good documentation are critical. The recent $450,000 fine of U.S.
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PYMNTS
JUNE 12, 2020
If restaurants, bars and cafes come roaring back after months of being shuttered worldwide, LG Electronics could be one of the big winners. The South Korean global electronics company headquartered in Seoul has partnered with online food delivery platform operator Woowa Brothers and the Korea Institute for Robot Industry Advancement (KIRIA), an incubator for robot startups, to develop robot waiters, LG announced Friday (June 12). “LG,
Chris Skinner
JUNE 10, 2020
Things we’re reading today include … ECB prepares ‘bad bank’ plan for wave of coronavirus toxic debt The Looming Bank Collapse Goldman Sachs employees to start returning to U.S. offices from June 22 Goldman Sachs closes Marcus account to new UK savers Mike Pompeo criticises HSBC for ‘corporate kowtow’ to … The post Things worth reading: 11th June 2020 appeared first on Chris Skinner's blog. Reading
Banker to Banker
JUNE 8, 2020
Last Friday’s economic data indicated that U.S. nonfarm payrolls rose by 2.5 million in May, compared with expectations for a decline of 7.5 million. In April, nonfarm payroll fell by 20.7 million in the largest single-month drop in records dating back to 1939.
Abrigo
JUNE 9, 2020
Banks and credit unions closed their lobbies and branches amid shelter-in-place orders in response to the coronavirus pandemic. Financial institutions that had already made the shift towards digital offerings found themselves with a distinct advantage to serve their customers and members. Technology has enabled financial institutions to operate more quickly and efficiently, creating a better experience for customers.
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