Sat.Aug 08, 2020 - Fri.Aug 14, 2020

COVID-19 is the perfect time for mobile payments

Mobile Payments Today

With COVID-19 causing customers to turn up their masked noses to cash, the time is now for mobile payments to take the world by storm

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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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Relating Fair Value and CECL: Misconceptions, Challenges, and Solutions

Abrigo

Key Takeaways The coronavirus pandemic has upended financial institutions' long-term business strategies, but now FIs have an opportunity to consider how consolidation can create greater efficiencies and better results – especially in the area of CECL and valuation calculations.

Payments industry should be worried by Fortnite suing Google — not Apple

Payments Source

Epic, the maker of Fortnite, is suing Apple and Google for forcing app makers to hand over a 30% cut of their revenue to the tech giants. The grievance against Apple is pretty clear-cut; the attack on Google is more nuanced, and could have major consequences for the payments industry.

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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.

Virtual prepaid incentives: the new way to drive customer traffic and engagement

Mobile Payments Today

Fintech, daVinci Payments, has introduced the industry’s first loyalty and acquisition engine, the Payment Accelerator, that can boost customer engagement through texted virtual offers

More Trending

Key Lender Steps Before Using the SBA’s PPP Forgiveness Platform

Abrigo

Key Takeaways The SBA's PPP Forgiveness Platform opened to lenders on Aug. 10, Before lenders can begin submitting their decisions on the forgiveness applications, they must acquire credentials to use the SBA platform.

UK banks can still build trust and revenues with SMEs post-COVID

Accenture

Small to medium-sized enterprises with up to 250 employees—SMEs—are the bedrock of economies worldwide. In the UK alone there are six million of them, collectively employing 17 million people. Until recently they were also a very dynamic segment, achieving strong growth over the past couple of years. But, as we all know, COVID-19 has changed…. The post UK banks can still build trust and revenues with SMEs post-COVID appeared first on Accenture Banking Blog.

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ICX Association Elevate Awards winners to be announced during livestream event

Mobile Payments Today

Winners of the ICXA Elevate Awards, which recognize outstanding achievement in interactive customer experience, are typically recognized during the annual ICX Summit. But due to the pandemic, this year’s awards ceremony will be held virtually on September 22

How US Carves Its Own Path To Open Banking

PYMNTS

While open banking frameworks and initiatives have slowly trickled throughout the U.S. financial services system, the landscape is nowhere near as developed as in other markets like the U.K. in which open banking regulatory mandates have accelerated the unlocking of bank data.

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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!

FinCEN Releases New Advisory on Cybercrime During COVID-19

Abrigo

Key Takeaways Criminals are using common typologies to exploit people during the COVID-19 pandemic. Cybercriminals are targeting remote platforms and processes. There has been an increase in business email compromise schemes during the pandemic. .

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Why Kamala Harris matters to fintech in the 2020 election

Payments Source

An obscure government initiative tied to Obamacare’s troubled online rollout could position Sen. Kamala Harris, Joe Biden's running mate, as a key figure in modernizing government stimulus and disbursement payments. Government payments Fintech Compliance Election 2020 Kamala Harris

What purposeful, trust-based banking looks like

Accenture

In the previous post of this series my colleague Alan McIntyre introduced two strategic pillars, comprising a set of actions that banks can take to increase their advisory trust, help improve customers’ financial well-being and, thus, grow their revenue by an average nine percent over time. The backbone of such purpose-driven banking, we believe, is…. The post What purposeful, trust-based banking looks like appeared first on Accenture Banking Blog.

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Bessemer Venture Partners’ Birnbaum On Why It’s Go-Time For FinTech

PYMNTS

There’s been no shortage of big payments and FinTech announcements over the past few days, such as Apple ’s bundle bet, Goldman Sachs ’ move to bid on the General Motors credit card or Square ’s decision to test small-dollar, short-term loans.

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.

Relating Fair Value and CECL: Misconceptions, Challenges, and Solutions

Abrigo

Key Takeaways The coronavirus pandemic has upended financial institutions' long-term business strategies, but now FIs have an opportunity to consider how consolidation can create greater efficiencies and better results – especially in the area of CECL and valuation calculations. FIs must confront misconceptions about relating fair value and CECL, such as the belief that discount rates are the same for fair value and CECL.

The coronavirus should accelerate fintech/bank cooperation

Payments Source

Thanks to the growing implementation of open banking, the same type of collaboration can be reached between bigtechs and fintechs. Banking Fintech Digital payments Coronavirus

When Will Your Bank Start Using Chat and Chatbots?

Banker to Banker

It is not a question of “if” it is only a question of “when” you will start deploying chat and chat automation at your bank. It should be on your radar screen for several reasons, the first of which is that it will soon be the fastest growing and the most preferred communication channel among your customers. That trend got a boost when Apple announced last week the production release of its Business Chat product

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Coinbase Offers Bitcoin Cash Loans Of Up To $20K In 17 US States

PYMNTS

Coinbase, the digital currency exchange, will offer bitcoin-backed cash loans to select customers as early as next month, the San Francisco-based company announced on its blog this week.

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.

Relating Fair Value and CECL: Misconceptions, Challenges, and Solutions

Abrigo

Key Takeaways The coronavirus pandemic has upended financial institutions' long-term business strategies, but now FIs have an opportunity to consider how consolidation can create greater efficiencies and better results – especially in the area of CECL and valuation calculations. FIs must confront misconceptions about relating fair value and CECL, such as the belief that discount rates are the same for fair value and CECL.

Why Kroger finally said yes to NFC

Payments Source

It took years for NFC payments to gather momentum in the U.S., with merchants initially dragging their heels to enable contactless technology at payment terminals and banks waiting until 2018 to begin the slow rollout of NFC-enabled cards. Contactless payments NFC Walmart Merchant Kroger MCX

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Commercial Lender Survey Results

Banker to Banker

We sent out a survey to several thousand community bankers across the country to understand bankers’ concerns, challenges, and opportunities in the current business environment. We feel that organizing an exchange of ideas and sharing of strategies is beneficial to many bankers. We also offered resources (videos, white papers, policies, marketing material, online proposal generators, and calculators) to help bankers obtain information based on their specific survey responses.

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Jumia Encounters New eCommerce Rivals In Africa Amid Pandemic

PYMNTS

As the coronavirus has led to greater popularity of eCommerce deliveries, Jumia Technologies AG is encountering new rivalry from upstarts in the online shopping and transportation space in Africa.

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.

Key Lender Steps Before Using the SBA’s PPP Forgiveness Platform

Abrigo

Key Takeaways The SBA's PPP Forgiveness Platform opened to lenders on Aug. 10, Before lenders can begin submitting their decisions on the forgiveness applications, they must acquire credentials to use the SBA platform. It's also a good idea to review thoroughly any documentation that lenders plan to submit along with their decisions. The SBA PPP Forgiveness Platform opened Aug. The Small Business Administration’s (SBA) PPP Forgiveness Platform opened to lenders on Aug.

Health care may be fertile ground for payment facilitators

Payments Source

As health-care payments increasingly look like traditional retail payments with various provider-consumer touchpoints, those acquiring hospital and medical clients are also turning to a payment facilitator model to secure contracts. ISOs Healthcare industry Payment facilitators Payment processing

Keeping it clean: Taking a look at sanitizing and disinfecting hard surfaces

ATM Marketplace

A variety of sanitation solutions have been introduced in response to COVID-19, challenging self-service equipment providers looking to prevent the spread of the virus

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Citi Wants Revlon Lenders To Return $900M Paid In Error

PYMNTS

Citigroup Inc. paid nearly $900 million by mistake to Revlon Inc. lenders due to a clerical error and wants its money back, Bloomberg News reported.

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.