Sat.Mar 21, 2020 - Fri.Mar 27, 2020

article thumbnail

Can banks emerge stronger from the pandemic?

Bank Innovation

The Coronavirus pandemic is posing significant challenges to the banking sector, forcing financial services providers into contingency mode and already driving cost-cutting initiatives and branch closures. What damage will the coronavirus crisis create in banking? Margins will be squeezed, credit losses will increase and, for banks in an unfavorable position, it could take years to […].

article thumbnail

ATM industry looks to federal lifeline amid COVID-19

Payments Dive

As relief and funding packages are being debated in Washington, the National ATM Council looks to how these new laws will affect business.

ATM 401
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Will coronavirus lead to a wave of bank failures?

American Banker

An uptick in closings is likely, but how many institutions go under and how fast will depend on a variety of factors, including the duration of the pandemic.

FDIC 97
article thumbnail

Doing digital with big banks

Chris Skinner

In the next few weeks Doing Digital, my newest book, will be finally live on Amazon and all good book stores. It’s the result of two years primary and secondary research and, to pay it its due, has been featured in many interviews with me recently. I’ll share many of … The post Doing digital with big banks appeared first on Chris Skinner's blog.

article thumbnail

Digital Transformation: Accelerating ROI and Growth in Commercial Lending

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

article thumbnail

ID2020: What’s Needed For Digital Identity In 2020

PYMNTS

Who we are, where we’re headed and what this all looks like on the “other side” of the pandemic are topics on everyone’s mind right now. So are vaccines. So is online shopping, with urgency. All of these subjects share a commonality: IDs. In commerce, knowing (and verifying) who’s on the other side of a transaction can mean the difference between a retailer making a sale to a loyal customer or a fraudster.

Course 361

More Trending

article thumbnail

As branches close, mobile video chat spikes 

Bank Innovation

As customers practice social distancing and financial institutions close branches, banks and credit unions are increasingly helping consumers via video chats. “We can do anything over video that a branch can do except handle cash and coin,” said Tracey Miller, senior vice president of operations at Pioneer Federal Credit Union. The Mountain Home, Idaho-based credit […].

Video 307
article thumbnail

An interview with Mike Heffner, Appian

Chris Skinner

I don’t do many interviews on The Finanser, but had been planning a massive book launch over the next month, touring the world and spending $1000s on media engagement. Ah well. That’s all on hold until this coronavirus thing ends … Meantime, one of the major sponsors of the book launch is … The post An interview with Mike Heffner, Appian appeared first on Chris Skinner's blog.

article thumbnail

How 5G Rollouts May Get Boost from COVID-19

PYMNTS

The way we live — the very ways in which we work, and learn, and spend leisure time, and of course, shop — have shifted markedly over the last several weeks. In the maelstrom of daily life grappling with COVID-19, the rollout of 5G , the fifth-generation network that features downloading speeds reportedly 100 times faster than that of 4G, may accelerate even as economic headwinds gather.

Course 348
article thumbnail

How to succeed in India’s volatile digital payments landscape

Accenture

The growth of India’s digital payments sector in recent years has been phenomenal, and shows few signs of slowing: By 2023, digital payments will total US$1 trillion, a five-fold rise in five years.¹ In part, this growth is due to government efforts to drive financial inclusion and promote a cashless society, as well as regulatory…. The post How to succeed in India’s volatile digital payments landscape appeared first on Accenture Banking Blog.

How To 243
article thumbnail

The State of Automation in Financial Services 2024 Report

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

article thumbnail

Robinhood accused of offering snafu credits to squelch suit

Bank Innovation

Robinhood Financial Inc., facing lawsuits over crashes on its trading platform amid violent stock market swings, is now being accused of offering a “$75 goodwill credit” to dupe customers into waiving their legal rights. Attorneys for users who are suing the beleaguered online brokerage company asked a federal judge in Florida to order Robinhood to […].

Florida 284
article thumbnail

Extinction Rebellion wins? Coronavirus and Climate Change

Chris Skinner

I got into an online argument as I said that the coronavirus was God’s way of letting Extinction Rebellion and climate activists win. Seeing his creation of humanity destroying his creation of everything, it took divine intervention to force us to stop flying, stop manufacturing and stop messing up our … The post Extinction Rebellion wins? Coronavirus and Climate Change appeared first on Chris Skinner's blog.

US 374
article thumbnail

Western Union Launches New Video, Phone Tool For Home Money Transfers

PYMNTS

Cross-currency money transfer firm Western Union has announced the launch of Digital Location, a new tool that enables people to send money from home. A pilot of the new channel is being introduced in Austria, Belgium, Italy, Portugal and Oman. Users can choose phone calls or video in multiple languages to connect to a money transfer personal service assistant.

Video 286
article thumbnail

Banking industry groups seek help on COVID-19

Payments Dive

Trade organizations and government officials are burning the midnight oil to help ATM operators and small businesses impacted by COVID-19, but owners are concerned that time needed for saving their businesses could run out before help arrives.

Groups 239
article thumbnail

Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

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.

article thumbnail

SMB banking startups face new challenges as clients struggle 

Bank Innovation

As the novel coronavirus forces social distancing and shelter-in-place mandates, many small businesses are being bled dry as they close their doors. Digital-only banking startups that serve small business clients, meanwhile, are figuring out what actions they can take to help their struggling customers. “Many of our customers are seeing a huge, immediate drop in […].

article thumbnail

A bank making a mark in mad bad times

Chris Skinner

The travel bans across Europe hit last week, we were told to stay at home, we are advised to self-isolate, our children’s schooling is cancelled, the supermarkets are working with face masks and social distancing … the world has changed. As a result of so many people losing short-term income … The post A bank making a mark in mad bad times appeared first on Chris Skinner's blog.

334
334
article thumbnail

World Health Organization Target Of Hack

PYMNTS

A hacking organization tried to breach the World Health Organization (WHO) recently, according to a report by Reuters. WHO Chief Information Security Officer Flavio Aggio said the identity of the hacking group isn’t known, and cyberattacks against the organization have increased exponentially during the coronavirus crisis. The hack was discovered by Alexander Urbelis, a cybersecurity expert and lawyer who looks for suspicious internet activity.

Groups 284
article thumbnail

A Five-Step Action Plan to Mobilize ‘Mobile First’

Gonzobanker

Financial institutions that are not ready to fully serve customers digitally face an existential threat. Hard as it is to fathom, we’ve just seen digital banking morph from “important” to “existential” status in one week’s time, and banks and credit unions that aren’t able to market, sell and serve their customers in an entirely mobile capacity are now facing an existential threat.

Mobile 188
article thumbnail

2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

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.

article thumbnail

LSB’s McCrary: Speed, not fund access, challenges banks now

Bank Innovation

Despite market strains caused by the novel coronavirus, providing funds for communities shouldn’t be a major issue for banks, according to Mike McCrary, first vice president of LSBX, Lincoln Savings Bank’s innovation lab.? “The access to funds should largely be there,” McCrary said during a Zoom event today for Bank Innovation subscribers. “The strength of […].

Community 273
article thumbnail

The Finanser’s Week: 16th March 2020 – 22nd March 2020

Chris Skinner

The main blog headlines are … #Coronavirus, cash and the breakup of the Eurozone I’m sitting staring at the wall. It’s been a long time now since being in a face-to-face meeting, conference or catching a flight. I’m staring at the wall. Thinking. Thinking. Thinking … what’s the meaning of … The post The Finanser’s Week: 16th March 2020 – 22nd March 2020 appeared first on Chris Skinner's blog.

article thumbnail

China Suspected In Surge Of US Cyberattacks

PYMNTS

U.S. cybersecurity firm FireEye said it suspects China is behind a surge in cyberspying that began in January, just when the coronavirus was starting to seriously spread outside of China, according to a report by Reuters. The firm wrote a report that said it suspected the activity was coming from a hacking group called “APT41.” The attacks began on Jan. 20 and were aimed at more than 75 of FireEye’s customers, which include media firms, healthcare organizations, manufacturers and nonprofits.

US 283
article thumbnail

Planning Our COVID-19 Response is Also Planning for the New Normal

Gonzobanker

Financial institutions need to talk about the impact of the Coronavirus – when they finally come up for air. In our nearly 20 years of existence at Cornerstone Advisors , we have never seen a crisis like the one we have experienced in the last 30 days. We have also seen the most abrupt change ever in assumptions, goals, impact planning and strategic focus.

article thumbnail

Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance

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.

article thumbnail

4 business challenges of COVID-19 and solutions to fight them  

Bank Innovation

While financial services companies large and small scramble to cope with the economic fallout of the coronavirus pandemic, there may be a silver lining to the gloom, according to Delos Advisors. The company, which provides guidance to senior management of financial institutions in the Americas, shed light on potential solutions to some of the business implications stemming from the COVID-19 outbreak in a white paper shared […].

America 259
article thumbnail

Things worth reading: 23rd March 2020

Chris Skinner

Things we’re reading today include … UK lenders banned from repossessing homes amid coronavirus crisis EU states ‘dragging their feet’ over financial transparency, report finds Advancing bank tech ‘broadens hack attack surface’ Economists told us what a pandemic could do. Who listened? | Torsten Bell Global economy will suffer for … The post Things worth reading: 23rd March 2020 appeared first on Chris Skinner's blog.

US 283
article thumbnail

Fed Could Issue COVID-19 Crisis Money Via eWallets

PYMNTS

To help bolster the American economy amid the COVID-19 pandemic, the Federal Reserve could utilize digital wallets and a “digital dollar” to provide “qualified individuals” with payments. With passing of the draft legislation, legal adults would receive $2,000 and $1,000 would be provided for each child, Yahoo! Finance reported. . The bills are called the “Financial Protections and Assistance for America’s Consumers, States, Businesses, and Vulnerable Populations Act” and the “Take Responsibil

article thumbnail

SFTR delay may spur consolidation of regtech solutions

Bobsguide

The delay to the launch of the Securities Financing Transactions Regulation (SFTR) will lead to further aggregation of regtech solutions, some providers argue. But the delay also exposes weaknesses in investment firms’ regulatory infrastructure, adding to market instability. Mikkel.

article thumbnail

Addressing Top Enterprise Challenges in Generative AI with DataRobot

The buzz around generative AI shows no sign of abating in the foreseeable future. Enterprise interest in the technology is high, and the market is expected to gain momentum as organizations move from prototypes to actual project deployments. Ultimately, the market will demand an extensive ecosystem, and tools will need to streamline data and model utilization and management across multiple environments.