Sat.May 09, 2020 - Fri.May 15, 2020

The Impact of the COVID-19 Pandemic on Financial Inclusion

Chris Skinner

I spent some time recently chatting with Joanne Dewar, Chief Executive Officer, Global Processing Services (GPS). I spotted GPS a while ago, and blogged about how they worked with Monzo, Starling, Revolut and more last October.

An Update to Our CRE Credit Portfolio Forecast

Banker to Banker

In past articles, we discussed a proposed Coronavirus stress test under CCAR ( HERE ) and provided our COVID-19 probabilities of default and loss given defaults for a model bank portfolio ( HERE ).

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Digital Capabilities Adopted for PPP: The ‘New Best Practices’ For Strongest Players

Abrigo

Key Takeaways PPP required lenders to embrace digitalization at scale and vendors delivered The earliest PPP solutions were built upon existing solutions for SBA 7(a) A focus on the entire life cycle of the PPP loan is important in lender-vendor collaboration.

Investment climate grows dim for fintech startups

Mobile Payments Today

The COVID-19 pandemic has created a shaky climate for startups in the fintech space, as investors look for more clarity in the near-term economic outlook

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!

Dealing with a crisis: FinTech versus Bank

Chris Skinner

The chasm between start-ups and incumbents is massively exposed by coronavirus. I realised this early on, when I saw that FinTech firms who were born on the internet were far more ready for working from home than traditional banks who depend on branches, buildings, office and physicality.

More Trending

Bad Actors Emerge in PPP Lending – More Expected as Forgiveness Guidance Emerges

Abrigo

Key Takeaways Like other federal relief programs, the PPP has become subject to fraud. The first federal charges of PPP loan fraud have been made – and they're unlikely to be the last.

How retailers can use mobile to recapture sales during COVID-19

Mobile Payments Today

Retailers are using e-commerce and mobile to make up for lost sales at the physical store during the wave of store closings due to the COVID-19 pandemic

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Free research: Open Banking, Mobile Money and Digital Currency

Chris Skinner

I just found three interesting management reports.

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Disrupting Traditional Payroll For A New Economic And Global Normal

PYMNTS

For all the human and business impacts caused by the global coronavirus pandemic, the crisis has also been instructive, particularly in illustrating the shortcomings in systems that worked just fine — until they didn’t.

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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.

How to Submit a PPP 1502 Report – Get Lender Processing Fees

Abrigo

Key Takeaways While lenders are still awaiting further guidance on PPP loan forgiveness, the SBA has stated that lenders will have to submit an SBA Form 1502 to report on PPP loans and collect processing fees.

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Is innovation a friend or enemy of cyber resilience?

Accenture

Banking is continuing to experience rapid change. An array of forces—evolving customer demands, digital disruption, cloud, Open Banking, regulatory shifts, fintech and now the global COVID-19 pandemic—mean banks must innovate or risk becoming obsolete.

The failure of banks (#coronavirus)

Chris Skinner

The other day, I blogged about the failure of government in this crisis. Today, I’m blogging about the failure of banks. I am aware that in some countries – the Netherlands seems to be one – there has been great continuance of bank service.

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The Resurgence Of The Great American Road Trip

PYMNTS

Before 1980, the typical American vacation, no matter its destination, always began with a road trip. Sandwiches and cold drinks packed in a cooler, the maps spread out in the passenger seat and the license plate game were all basic staples of every family trip.

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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.

Is Your Financial Institution’s Data Safe in the Cloud? FFIEC Issues Joint Statement on Cloud Computing

Abrigo

Key Takeaways The FFIEC issued a joint statement highlighting best practices for safe and sound use of cloud computing services. There are three main cloud service models, each with different levels of shared responsibilities between provider and client.

Building a digital monetary authority for a digital age

Accenture

Central banks’ key functions have remained largely unaltered since the first such institution was established in Sweden in the mid-17th century.

The Finanser’s Week: 4th May 2020 – 10th May 2020

Chris Skinner

The main blog headlines are … Where was the digital backup to our physical structure? The coronavirus crisis has hit everyone sudden and hard. We originally thought it was a Chinese crisis and now it’s a global one.

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Mastercard Expands Global Commitment To Connect 1B People 

PYMNTS

As the coronavirus pandemic continues to disrupt worldwide economies and everyday life, Mastercard vows to connect 1 billion people and 50 micro-businesses to the digital economy by 2025. In addition, the company will offer tools to 25 million female entrepreneurs to fuel business growth. .

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.

What the Coronavirus Has Taught Us About Banking Relationships

Abrigo

Key Takeaways The coronavirus has propelled FIs and customers to embrace digital offerings Work from home schedules, sheltering in place, and urgent financial needs have changed customers' expectations of bank response times.

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A Protocol for Reopening a Non-Customer Facing Office (Phase II Protocols)

Banker to Banker

We have blogged about checklists for returning to work ( here ) and the models available to bankers to decide when to call employees to the workplace ( here

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You might be staying in more than you expect

Chris Skinner

When Digital Human came out, its subtitle was The Fourth Revolution of Humanity includes Everyone. The premise was based upon humanity entering a fourth phase where every human on Earth could connect with every other human on Earth by just having a mobile telephone.

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OfferUp CEO: Reinventing Commerce One Local Seller At A Time

PYMNTS

Recommerce has been on the rise for the better part of a decade now, and it seems countless marketplaces have sprung up to offer consumers a host of inroads to buy gently used goods of all kinds.

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!

FinCEN Reissues Real Estate Geographic Targeting Orders: What Does this Mean for Your FI?

Abrigo

Key Takeaways FinCEN reissued Geographic Targeting Orders NYC and Miami were the original targets, but the newest order includes 12 other mentor areas. FIs should have procedures in place to monitor for red flags in these areas .

Are Robo-advisors with no hedging gear, suitable for the 21st century?

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.

Things worth reading: 12th May 2020

Chris Skinner

Things we’re reading today include … Barclays still banking on climate breakdown UBS eyes digital bank licence in China Judo Bank achieves Unicorn status on $230 million fund raise Bitcoin goes through third ‘halving’, falls vs U.S.

How Brick-and-Mortar Banks Can Seize The Digital Moment

PYMNTS

There was a time when consumers did not require much more from their local bank than a checking account, savings account and an ATM card. This has changed dramatically in recent years as consumers’ financial lives have migrated to the digital realm.

Data-Driven Marketing 101

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