American Banker
APRIL 2, 2020
Many bankers find crucial parts of the SBA effort to help businesses hurt by the coronavirus outbreak to be unclear and onerous. If those issues go unresolved, participation could suffer.
Chris Skinner
APRIL 1, 2020
These are extraordinary times. No one can remember anything like this, except maybe those over the age of 80. The last time anything like today’s world happened was the Second World War but, as I said the other day, they were fighting each other. We are fighting a thing. The … The post Trillions of dollars of #coronavirus aid appears … from where?
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ATM Marketplace
APRIL 1, 2020
The spread of COVID-19 is a real concern to the ATM industry and finding a safer, more efficient way to do business and reduce touchpoints with cash is essential. Cash recycling can help.
Payments Dive
APRIL 2, 2020
The debate over whether cash can continue amid growing acceptance of digital payments is a flawed debate, according to PPRO. The best analysis shows that digital commerce and cash need to work in tandem to serve a wide variety of consumers and businesses.
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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
Abrigo
APRIL 2, 2020
Key Takeaways Elderly persons are more susceptible to fraud during crises like the coronavirus pandemic. The BBB Senior Medicare Patrol issued a COVID-19 Consumer Tip Sheet to protect potential targets of these scams. Train your frontline staff to recognize the red flags of potential elder financial abuse. As the coronavirus pandemic takes a powerful hold on the United States, illicit activity such as cybercrime, check fraud, and other scams are rapidly increasing and is expected to continue th
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
MARCH 31, 2020
Challenger bank HMBradley launched this week in the face of global uncertainty, with the backing of PayPal founder Max Levchin, and already has about 25,000 waitlisted sign-ups, according to CEO Zach Bruhnke. “We are certainly in a place where almost undoubtedly people are going to lose their jobs,” Bruhnke told Bank Innovation. “It’s never a […].
PYMNTS
APRIL 1, 2020
Washington State Governor Jay Inslee signed a bill on Tuesday (March 31) establishing specific rules – backed by Microsoft – governing facial recognition software, according to a blog by Bill Smith, president of Microsoft. “This legislation represents a significant breakthrough – the first time a state or nation has passed a new law devoted exclusively to putting guardrails in place for the use of facial recognition technology,” Smith said in the post.
Accenture
MARCH 31, 2020
I recently had the good fortune to collaborate with Finastra on a white paper titled Corporate Banking APIs: Open for Business. As the paper points out, application programming interfaces (APIs) are starting to significantly disrupt corporate banking. Nearly nine in ten (86 percent) banks are working on Open Banking and open API platforms, and nearly….
Chris Skinner
MARCH 31, 2020
I don’t usually share press releases, but this one is too important to hold back. PRESS RELEASE THIS RELEASE IS UNDER EMBARGO UNTIL 23:59 MARCH 31, 2020 [BASEL, SWITZERLAND, MARCH 31 2020] Banking system works out to respond to coronavirus crisis in massive, global, co-ordinated agreement The Bank for International … The post Banks agree a global package of services for those hit by coronavirus 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
Bank Innovation
APRIL 1, 2020
As financial institutions transition employees to working remotely during the coronavirus pandemic, cybersecurity threats have made them more vulnerable, according to information and cybersecurity experts. “The hackers are going to have a field day with this, I believe they’re going to redouble their efforts on banks because that’s where the money is,” said Steve Hunt, […].
PYMNTS
MARCH 29, 2020
In Egypt, banks have been told to impose a limit on cash withdrawals and deposits in a move to hopefully stop hoarding and inflation. The new limit will be 10,000 Egyptian pounds ($635) and 50,000 pounds for companies per day. There will be exceptions for those using the money to pay employees, according to a central bank statement. There will also be a limit of 5,000 pounds on ATM withdrawals and deposits, the statement said.
Accenture
MARCH 30, 2020
Since the adoption of PSD2 by the European Parliament in 2015, there’s been growing momentum behind Open Banking. This is set to reach new levels in 2020, as Open Banking catalyzes innovation and efficiency across the world of payments. That makes it one of the most important trends in the industry right now. Open Banking…. The post How Open Banking is catalyzing payments change appeared first on Accenture Banking Blog.
Chris Skinner
MARCH 30, 2020
I did a presentation to a conference via video link the other day. Slido allowed audience members to ask questions through the presentation, and the list of questions at the end was quite extensive. I didn’t get time to answer all of them, but here’s a selection. The most popular … The post Banks questions about doing digital transformation 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.
Bank Innovation
APRIL 3, 2020
As banks scramble to stand up digital interfaces and participate in the SBA Paycheck Protection Program (PPP) that launched today, fintech providers are rolling out different technology platforms to help lenders process the flood of small business loan applications. The Payroll Protection Program, a major component of the “Coronavirus Aid, Relief, and Economic Security” Act, authorizes lenders to provide up to $349 billion in funds to […].
Payments Dive
MARCH 31, 2020
Diebold Nixdorf, a support and maintenance company for ATM and retail checkout networks, updates its business outlook due to COVID-19.
PYMNTS
APRIL 2, 2020
The universal characteristics of the coronavirus are change and speed. The virus is spreading quickly around the globe, of course, and has abruptly changed life for billions of people. And in an interview with Karen Webster, Chris Caton, senior vice president and head of global strategy and analytics at Prologis , supply chains are about to change as well.
Chris Skinner
APRIL 2, 2020
There’s a new edition of The FinTech Times that has just been released. It was designed to coincide with the Spring events in Asia that would be kicking off round about now but, as most of you now know, all events have been postponed. Nevertheless, with contributions from 11:FS, WeBank, … The post Everything FinTech Asia, with contributions from Ant Financial and WeBank 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.
Bank Innovation
APRIL 3, 2020
U.S. Treasury Secretary Steve Mnuchin last weekend confirmed “any fintech lender” will be authorized to make small business loans as part of the Coronavirus Aid, Relieve and Economic Security (CARES) Act. Despite the goal to have the program up and running by today, digital lenders remain uncertain how it will work and how much it […].
Payments Dive
APRIL 1, 2020
David Drain, SVP of events for Networld Media Group, is also serving as the director of the Interactive Customer Experience Association.
PYMNTS
MARCH 30, 2020
As it aims to provide small businesses and enterprise clients with instant payments, Siam Commercial Bank (SCB) of Thailand is poised to open up its consumer cross-border payments app, which is powered by Ripple, to companies. The financial institution had harnessed RippleNet earlier in 2020 to link up with banking partners globally, according to reports.
Chris Skinner
APRIL 2, 2020
Things we’re reading today include … JPMorgan on collision course with US Treasury over rescue loans 130K inquiries, 1K loans: why UK government had to tweak help for small firms Denying coronavirus loans ‘completely unacceptable’ banks told Loan and credit card payments to be frozen for three months in UK … The post Things worth reading: 3rd 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.
Bank Innovation
APRIL 2, 2020
Vanguard Group and Ant Financial’s joint venture is rolling out a new robo adviser to target the Chinese fintech giant’s 900 million users, a first step in winning a slice of the nation’s fast growing asset management business. The venture started offering an automated service called “Bang Ni Tou” (Help You Invest), to capture people […].
Payments Source
MARCH 31, 2020
While much of the world is sheltering at home to deter the spread of coronavirus, there's still a need for essential workers to travel — and an opportunity for the development of in-car payments technology, which could allow consumers to pay for gas or food without handling cash or other potentially infected surfaces.
PYMNTS
APRIL 2, 2020
Facing an economic emergency tipped off by the unprecedented coronavirus pandemic landing on American shores, the federal government in an uncharacteristic burst of speedy bi-partisan cooperation passed the $2.2 trillion CARES Act , a massive stimulus effort meant to keep citizens and businesses whole and afloat while the world rides out the outbreak.
Chris Skinner
APRIL 1, 2020
Things we’re reading today include … Now the world faces two pandemics – one medical, one financial | Robert Shiller Coronavirus: Banks bow to pressure and axe shareholder payments Banks paid millions in bonuses weeks before ban on cash rewards Wall Street’s debt machine: why everyone is watching bank exposure … The post Things worth reading: 2nd April 2020 appeared first on Chris Skinner's blog.
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