Chris Skinner
MARCH 16, 2020
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 all this? What’s the meaning of life? What’s the meaning of money? Money is … The post #Coronavirus, cash and the breakup of the Eurozone appeared first on Chris Skinner's blog.
Payments Dive
MARCH 20, 2020
Banks across the U.S. are limiting lobby hours and encouraging mobile banking in response to the COVID-19 outbreak. Many banks continue to offer fee waivers and penalty reductions for customers that need to access funds early.
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American Banker
MARCH 16, 2020
Lenders are rallying around a bill from Sen. Rubio that would give them access to another $50 billion under the 7(a) program. It could face obstacles in the House, where a bill favors direct lending by the Small Business Administration.
Bank Innovation
MARCH 20, 2020
The novel coronavirus may be closing bank branches nationwide, but some digital-only financial institutions are trying not to exploit consumer fears. “Being a branchless bank is part of who we are, but we don’t want to resort to scare tactics,” said Nicole Lorch, chief operating officer at First Internet Bank. The Fishers, Ind.-based bank, which […].
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.
Chris Skinner
MARCH 15, 2020
I was a little distraught over the weekend. With absolutely no warning, the Polish government closed the country’s borders. All flights and train travel banned. No inbound access at all, unless you are Polish or could provide Polish residency. No outbound access and, if you do leave and return, immediate … The post The politics of pandemics appeared first on Chris Skinner's blog.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
MARCH 20, 2020
A police department in California is going to use drones equipped with loudspeakers to help enforce the state lockdown orders imposed due to the coronavirus, according to a report by the Financial Times. The Chula Vista PD has purchased two drones worth $11,000 each. They’re made by DJI, a Chinese company, and the department plans to also add night vision cameras to the flying vehicles.
Bank Innovation
MARCH 19, 2020
How will banking and fintech business models be impacted by this unprecedented coronavirus pandemic? What is the role of innovation in response to these rapidly unfolding events? How will banks and startups work together? For insights into these questions, Bank Innovation and INV Fintech, its sister banking innovation services platform, will present a special Zoom meeting on […].
Chris Skinner
MARCH 18, 2020
It’s very strange times. I’ve taken travel for granted. For years, I’ve been used to open borders, easy connectivity and access to airports. The internet then fuelled that ease of movement and connectivity. Suddenly, via social media, my friends are in Tokyo, Kuala Lumpur, Sydney, Mumbai, Lagos, Paris, Milan, New … The post Did you take the world for granted?
Payments Dive
MARCH 17, 2020
The banking industry is providing increased flexibility to retail and small business customers as the coronavirus puts enormous financial pressure on communities.
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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
PYMNTS
MARCH 19, 2020
The Federal Deposit Insurance Corporation ( FDIC ) gave the green light to an application from the FinTech firm Square to create a de novo industrial bank in Utah, the agency said on Wednesday (March 18). Square Financial Services will originate commercial loans to the retailers that use Square for payments. The headquarters will be in Salt Lake City, Utah.
Bank Innovation
MARCH 19, 2020
The push for digital products from banks amid growing social distancing measures may persist long after the COVID-19 pandemic ends, according to early survey results from INV Fintech, Bank Innovation’s sister banking innovation services platform. Based on interim results of the survey released this week, 49% of respondents strongly agree that the coronavirus pandemic will […].
Chris Skinner
MARCH 17, 2020
I’m getting a lot of people asking questions about what I think the coronavirus will mean long-term in the financial markets, so I’ve tried to jump forward to look back. Obviously, the big thing about a pandemic is that people are being told to stop meeting each other. Conferences, events, … The post The rush to digitalisation post-pandemic appeared first on Chris Skinner's blog.
Payments Dive
MARCH 19, 2020
As restaurants across the United States shutter dine-in locations and switch to carry-out and delivery-only options, many fast casuals are discounting or totally waiving delivery fees in an effort to not only help keep their businesses alive but to do also make it easier for Americans to access food.
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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
MARCH 20, 2020
Banking technology FinTech Finastra was hit with a security breach on Friday (March 20), and was forced to shutter key systems and send employees home, according to a report by KrebsonSecurity. Although the company’s statement doesn’t mention the type of attack specifically, Krebs believes it is likely a ransomware attack based on the reaction. Two sources forwarded internal notices about the outage.
Bank Innovation
MARCH 18, 2020
JPMorgan Chase told its employees today it will be closing about 20% of its branches starting tomorrow. A Chase spokesperson told Bank Innovation the move would “help us protect our employees as we provide essential services to our customers and the communities we serve.” The closures come at a time when banks are increasingly promoting […].
Chris Skinner
MARCH 19, 2020
For a while, I presented the idea that our world is a fiction. It is a fiction based upon beliefs. We have shared beliefs. We believe the world is the way the world is. But the world isn’t this way. Borders. Borders don’t exist. We – humans – created borders. … The post Our world is just a fiction appeared first on Chris Skinner's blog.
Payments Dive
MARCH 16, 2020
To streamline the enrollment process, while reducing the potential for fraud, GIACT released a new white paper, Mitigating Mobile Network Fraud with Secure Subscriber Enrollment , detailing the best practices in secure digital enrollment.
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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
MARCH 17, 2020
Facebook wants to help small and medium-sized businesses (SMBs) survive the coronavirus pandemic, and is offering $100 million in grants to 30,000 companies in over 30 countries. Sheryl Sandberg, chief operating officer of Facebook, said on her page and in a blog post on Tuesday (March 17) that the social media giant wants to “do our part” to help with the “enormous challenge in front of us.”.
Bank Innovation
MARCH 17, 2020
As social distancing becomes the new normal and quarantine measures spike during the coronavirus pandemic, banks of all sizes are promoting their digital channels to customers. “We are in crisis management mode,” said Mark Cromer, senior vice president and chief operations technology officer at the Sparks, Nev.-based Farm Bureau Bank. “We are trying to minimize […].
Chris Skinner
MARCH 15, 2020
The main blog headlines are … “Are you willing to take the risk of investing in b t?” “Are you willing to take the risk of investing in b t?” Interesting headline. It’s not mine btw. It’s a question from a leading banker. The question, in this case, related to investing in data … The post The Finanser’s Week: 9th March 2020 – 15th March 2020 appeared first on Chris Skinner's blog.
Payments Source
MARCH 19, 2020
The payments industry bridges many markets — including technology and finance — that haven't always demonstrated diversity at their highest ranks. Things are changing, and this year's Most Influential Women in Payments honorees demonstrate the importance of women to all aspects of the payments industry and all corners of the globe.
Advertiser: Data Robot
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.
PYMNTS
MARCH 20, 2020
To honor staffers who are maintaining stocks of supplies on shelves as shoppers visit locations in droves, Walmart said it would pay almost $550 million in bonuses to hourly workers. The retailer has experienced an increase in sales as consumers stock up on toilet paper, food, hand sanitizer and other products as they get ready to remain in their residents with increasing COVID-19 cases, CNBC reported.
Bank Innovation
MARCH 16, 2020
“Move fast and break things” is synonymous with Silicon Valley’s freewheeling tech culture. But one finance startup is learning the hard way that customers don’t like it when things actually break. As the coronavirus set off violent swings in global stocks, Robinhood Financial Inc.’s trading platform kept failing. A series of major outages left millions […].
Chris Skinner
MARCH 17, 2020
Things we’re reading today include … HSBC appoints insider Quinn as CEO amid growth headwinds UK banks set out details of Covid-19 mortgage holidays Coronavirus: Stocks rocked by record volatility Metro Bank hit with fresh lawsuit by Iranian customers Study: global banks ‘failing miserably’ on climate crisis by funneling trillions … The post Things worth reading: 18th March 2020 appeared first on Chris Skinner's blog.
Payments Source
MARCH 15, 2020
Cobranded travel credit cards — including some of the most popular and profitable in the payment card industry — are looking at darker skies because of COVID-19.
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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.
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