Bank Innovation
APRIL 24, 2020
Let me start this piece with a disclaimer. This is an article telling banks to spend money on technology, and I’m a guy running a company that benefits when banks spend money on technology. So, it’s fair to say that I have some pretty heavy inherent bias. With that bit of transparency established, let’s get […].
Chris Skinner
APRIL 21, 2020
Someone asked me what the coronavirus pandemic means for the future of FinTech. I’ve blogged a bit about that already, referring specifically to this great presentation by Finch Capital: But equally, you may think that times are dull and boring, locked in at home and nothing going on, but there’s … The post What does the #coronavirus crisis mean for #FinTech?
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PYMNTS
APRIL 23, 2020
Branch visits are vital to customers’ financial lifestyles, despite mobile and online banking’s growing popularity. All generations, including 64 percent of baby boomers and 56 percent of those from Generation Z, largely prefer opening accounts in person rather than doing so online, for example, meaning in-branch experiences at financial institutions (FIs) need to be just as advanced as their online offerings.
Payments Dive
APRIL 24, 2020
Small businesses struggling to work with big banks are increasingly turning to fintechs for help with access to PPP loans as well as assistance in obtaining alternative financing sources.
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Now is the time for lenders to prioritize their digital transformation initiatives in preparation for the lending rebound. Rising competition and ever-increasing customer demands for speed and efficiency are forcing financial institutions to embrace digital transformation. This shift can feel overwhelming—where do you begin? This infographic illustrates automation demands and shows you how loan document automation serves as an essential step to increase profits and provide the best lending exper
Accenture
APRIL 23, 2020
In the first blog in this series, I shared some of the observations from a white paper I co-authored with Finastra on corporate APIs. In this blog I would like to discuss how the proliferation of APIs affects banks’ business models. In our view, banks’ future business models will emerge from three main strategies: 1.…. The post New business models for a new banking environment appeared first on Accenture Banking Blog.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
APRIL 23, 2020
The biggest benefactor of the Paycheck Protection Program (PPP) is a Dallas, Texas-based hotelier named Monty Bennett, who has received $59 million from the program intended to help small or medium-sized businesses with the economic crisis. Bennett is the chair of Ashford Hospitality Trust , which manages a number of hotels including Atlanta’s Ritz Carlton and the Marriott Beverly Hills.
Payments Dive
APRIL 21, 2020
The Chinese e-commerce market is one of the most important in the world and represents a lucrative opportunity for digital expansion. However, the nuances of this market are important to understand and the role of mobile expansion is critically important.
Bank Innovation
APRIL 23, 2020
AvidXchange is eyeing additional acquisitions and scalability after scoring an additional $128 million in equity capital on the heels of its $260 million funding round in January, CEO Michael Praeger told Bank Innovation. The company automates invoicing and outgoing payments for the B2B market. Using accounts payable software, the Charlotte, N.C.-based AvidXchange integrates with common […].
Chris Skinner
APRIL 19, 2020
A lot of things seem irrelevant right now, as we sit in the dark of a crisis, but life will go on and things do go on. It therefore intrigued me to see that Accenture has just performed a survey around purpose-driven banking. Purpose-driven banking is something I started writing … The post Purpose-driven banking research finds a 9% uplift in revenues appeared first on Chris Skinner's blog.
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In this report, you’ll find a comprehensive analysis of survey responses from executives at banks, credit unions, and insurance companies concerning their organization’s current and future use of automation. The report’s key insights include: Which types of automation are saving organizations the most time and money How to overcome the biggest barriers to automation implementation and adoption Why automation investments will continue to grow over the next few years How much you could save in 202
PYMNTS
APRIL 22, 2020
If your $1,200 federal COVID-19 stimulus payment has been deposited into your bank account by the Internal Revenue Service (IRS), consider yourself one of the lucky ones. An IRS spokesman told PYMNTS that only about 80 million payouts – about half of the expected total – had been issued as of last Friday (April 17). That leaves many taxpayers waiting, but the spokesman couldn’t provide a schedule of when payments will be issued.
Bobsguide
APRIL 24, 2020
On April 7, 2020, the Financial Conduct Authority (FCA) published its business plan for 2020/2021. Understandably, the FCA’s main immediate focus is to continue to address the challenges presented by the coronavirus emergency. However, that is not the whole story and the FCA is not planning to.
Bank Innovation
APRIL 21, 2020
Radius Bank is standing up a Paycheck Protection Program loan forgiveness tool, even as many banks feel left in the dark by the Small Business Administration, which hasn’t yet released details on how the process will work. The Boston-based bank is creating its own solution in advance of the PPP forgiveness process that will start […].
Chris Skinner
APRIL 23, 2020
Looking back, the world should have locked down when China did in January. The reason we didn’t? Economics, business, commerce and the financial metrics. If we had? Well, we wouldn’t be suffering nearly as much now. But hey, hindsight is a great thing, isn’t it? One of the things that … The post The politics of pandemics (#coronavirus) appeared first on Chris Skinner's blog.
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Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.
PYMNTS
APRIL 21, 2020
COVID-19 has changed daily routines around the world as more consumers have had to stay at home, only venturing out into public for necessities. This is leading companies of all kinds to navigate how to reach them remotely. Financial institutions (FIs) are among the entities that are working to securely meet clients where they are through mobile and online channels to complete tasks that would more often be completed in person.
Payments Source
APRIL 21, 2020
Veem specializes in cross-border payments, but when small-business customers clamored for help this month with emergency SBA loans, the fintech responded.
Bank Innovation
APRIL 24, 2020
For many small businesses, the new round of Payroll Protection Program funds is likely to be a godsend. For banks, it could bring another overwhelming rush of desperate borrowers. Many banks are hoping this round of PPP will go smoother — at least somewhat — than the last one. And new technology is being developed […].
Chris Skinner
APRIL 20, 2020
For most of my adult life, we’ve been part of the European Union. The Brexit vote came as a shock, and the unravelling of Britain from Europe for the past four years has been a major stalemate in British life and politics. Now, the whole euro project might come tumbling … The post The future of the Euro (#coronavirus bonds) appeared first on Chris Skinner's blog.
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As we step into 2024, the lending landscape evolves rapidly with technology, regulations, and market dynamics driving change. For banks and financial institutions to stay competitive and meet the evolving needs of their customers, these drivers must be understood and engaged with. Lenders can anticipate significant transformation fueled by technological advancements, regulatory shifts, and changing consumer behaviors.
PYMNTS
APRIL 20, 2020
Arne Sorenson, Marriott International Inc.’s CEO, said the deadly coronavirus pandemic will change the experience of staying in a hotel — at least temporarily — according to a report by Bloomberg. He told Bloomberg Television’s Leadership Live broadcast on Monday (April 20) no one knows when the lodging industry will rebound from impacts of COVID-19.
Bobsguide
APRIL 20, 2020
Digital identity verification could become the norm in financial services as social distancing halts in-person identification, according to Andersen Cheng, CEO of Nomidio, a cloud-based identity as a service (IDaaS) provider and cybersecurity company Post-Quantum. “This is really a paradigm.
Bank Innovation
APRIL 24, 2020
Noah, a company that offers financing in exchange for a portion of consumers’ home equity, gives consumers an alternative to home equity loans from banks. With a $150 million funding round from undisclosed institutional investors, up from a $5 million Series A just seven months ago, there appears to be faith in the company’s business […].
Chris Skinner
APRIL 18, 2020
The main blog headlines are … Will you avoid companies that put profit before people? I’ve been writing a lot about purpose-driven banking, a theme that resonates around the idea that business focus should be more than just making money. It should also focus upon doing good for society and … The post The Finanser’s Week: 13th April 2020 – 19th April 2020 appeared first on Chris Skinner's blog.
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Commercial lending is on the verge of a resurgence, but traditional processes are an obstacle. Explore the top 3 reasons for resistance to digital transformation and how overcoming them can pave the way for growth and efficiency. Discover why embracing automation and digital solutions is crucial for success in today's competitive landscape. Discover how GoDocs helps commercial lenders in the digital era with seamless integration and a borrower-focused approach.
PYMNTS
APRIL 23, 2020
Financial institutions (FIs) are feeling the pressure to offer increasingly personalized, digital-first services to keep customers satisfied. Crafting the seamlessness customers want means FIs are overhauling their digital infrastructures to enable access to fast, interactive and engaging banking experiences. More banks are therefore moving away from legacy core systems to embrace cloud-native architectures to power automation and meet the speed expected by consumers, securely.
Bobsguide
APRIL 23, 2020
The European Commission’s ruleset on artificial intelligence (AI) may be delayed until well after the end of the year due to the pandemic. Regulations were expected to be proposed by the European Commission (EC) by the end of 2020, but coronavirus may delay these regulations. With proposals.
Bank Innovation
APRIL 24, 2020
Armed with automation, APIs and experience, lenders across the country are making preparations to process the torrent of Paycheck Protection Program loans expected when the Small Business Administration re-opens the E-Tran system on Monday at 10:30 a.m. EDT. “Speed is the name of the game. We know there will be a mad dash to the […].
Chris Skinner
APRIL 21, 2020
Things we’re reading today include … Bank of England boss: Loans need to be sorted out Fitch downgrades 10 European banks and warns coronavirus impact could lead to more Chinese bank publishes first-ever banking blockchain white paper RBS digital bank Bo is losing its chief product builder Coronavirus: Branson offers … The post Things worth reading: 22nd April 2020 appeared first on Chris Skinner's blog.
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