Sat.Mar 07, 2020 - Fri.Mar 13, 2020

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Amazon To Deliver Coronavirus Test Kits In Seattle

PYMNTS

To assist in bringing at-home testing kits for COVID-19, the disease caused by the coronavirus , to homes of Seattle-area residents, Amazon Care is reportedly in discussions with local health groups, according to a CNBC report. The talks have been occurring for over a week, according to unnamed sources. Amazon Care rolled out last fall as an experimental effort to provide employees and dependents in the area of Seattle with high-quality health care.

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B2B Payments Speed Up

PYMNTS

“At the speed of business.” The phrase evokes capitalism with dynamic velocity, which is probably why it was the UPS ad tagline for years, and why Cisco later used another variation, “Innovate at the Speed of Business,” to articulate itself. So, what is the speed of business? If we’re talking about business-to-business (B2B) payments, the speed of business is nothing to brag about.

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Airbnb Sees 40 Percent Drop In Bookings; Delays IPO

PYMNTS

The toll of the coronavirus on businesses has hit everything from tourism to large gatherings like concerts and conventions. With those goes the value of Airbnb , which saw its bookings fall by 40 percent, according to published reports Thursday (March 12). According to independent data from analytics group Airdna, the drop was largest in China (previously the fastest-growing market for the rental platform) and parts of Europe where the virus has hit the hardest.

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WeWork To Sell Iconic NYC Building To Amazon

PYMNTS

Amazon ’s New York expansion plans will now include the former Lord & Taylor building in downtown Manhattan, as the eCommerce company announced that it will purchase the storied building from office sharing startup WeWork , according to the New York Post. The price tag on the building, famous for being the former New York hub for the shopping retailer, is in excess of $1 billion.

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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

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Coronavirus scams to watch out for

American Banker

Financial institutions need to alert customers about emails or websites that pretend to offer important COVID-19 information but instead could end up stealing their account numbers or logins.

More Trending

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French Court Says Bitcoin Is Money

PYMNTS

A French court has decided that bitcoin is money, the first time a court in France has issued such a ruling, according to a report from Les Echos Sunday (March 8). The decision came about following a clash between the Bitcoin marketplace Paymium and the crypto investment company BitSpread. The result of the ruling could lead to more activity in the French bitcoin market.

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Princess Cruises Discloses Possible Data Breach

PYMNTS

Princess Cruises disclosed a potential data breach in a notice posted on its website. The travel company said that from April 11 to July 23 of last year a third party attained “unauthorized access” to select staff email accounts that had personal information regarding its staff, customers and crew. The company said it “identified suspicious activity” on its network in May of last year.

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Will Consumers Warm To Subscription Banking?

PYMNTS

The era of “challenger” banks has seen many grand promises in terms of innovating on the old banking model to provide consumers with something more modern, responsive and customized. But when it comes to actually measuring results against the hype, the fact is that reality often falls a bit short. The digital banking customer might get a few nice bells and whistles — a faster onboarding process or a slick digital app attached to a prepaid card that’s nearly functionally identical to a debit che

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Digital banks, payments startups face first major test in virus

Bank Innovation

Fintech startups looking to upend how Americans do their banking are facing their first major test as interest rates fall and fearful consumers seek safety at traditional banks. Square Inc. and Stripe Inc., mobile payments companies founded after the 2008 financial crisis, and digital banks including Chime Inc. and MoneyLion have never experienced a major […].

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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

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Coronavirus outbreak raises questions about digital payments and cash

Payments Dive

The coronavirus pandemic has raised a number of concerns about whether consumers would shift towards digital payments amid concerns about cash handling and interacting with large crowds in banks and retail centers.

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When the world stops, did you want to get off? #coronavirus

Chris Skinner

Woke up with a sore throat, stuffed nose and cough. OMG, have I got the coronavirus???? After President Trump’s ban on Europeans last night, the coronavirus madness continues. I know that coronavirus is boring – as it’s non-stop in the news, media, office and coffee shop – but it goes … The post When the world stops, did you want to get off? #coronavirus appeared first on Chris Skinner's blog.

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What the rise of in-app payments means for banks

Accenture

The expectations of customers when it comes to payments have changed radically in recent years. Payments that are instant, invisible and free (IIF) have quickly become the norm, especially in certain segments of the market like airlines, fashion retail, hotels and online travel agents. Non-IIF payments options in these segments and others have all but….

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Banks around the country respond to coronavirus

Bank Innovation

As the novel coronavirus continues to spread, rattling the economy, banks are reevaluating their business propositions to clients.? WaFd, formerly Washington Federal Bank, is offering interest-free lines of credit of up to $200,000 to small businesses as a result of the pandemic. The Seattle-based bank said the small business loans are meant to help struggling […].

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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.

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The role of ATMs and cash access in the digital banking era

Payments Dive

Amid rapid changes in the cash economy and the rise in digital payments, the ATM is likewise facing challenges that have led to an evolution that will meet the demands of a new generation of customers.

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Mark Carney: Central Banker and Climate Activist

Chris Skinner

On Sunday, Mark Carney leaves the Bank of England after almost seven years at the helm. There’s an interesting review of Mark Carney’s tenure as Governor of the Bank of England on Bloomberg. Joining the Bank back in 2013, before the Scottish referendum and Brexit vote, it charts his seven … The post Mark Carney: Central Banker and Climate Activist appeared first on Chris Skinner's blog.

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Banking on technology to power up trade finance

Accenture

Trade finance has long been of vital importance to the world economy. However, over the last few decades, its role in globalization has grown significantly. Indeed, technological innovation, shifts in corporate behavior, regulatory changes and increasing market competition are fundamentally changing the trade finance market. With an expected increase in the compound annual growth rate….

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Investors: Coronavirus could shrink startup valuations   

Bank Innovation

The impact of the novel coronavirus and the economic shockwaves from the stock market downturn and associated travel and work restrictions are yielding unresolved questions for startup founders and investors alike. Long-term bets are facing new scrutiny, and prospects of healthy returns are facing new obstacles. At issue is whether investors have confidence that their […].

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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.

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Banks farm out offsite ATM maintenance, cash replenishment

Payments Dive

Banks are increasingly outsourcing more sophisticated and remote ATM maintenance to outside firms.

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50 years of ranking 1000 banks

Chris Skinner

Some of you may know that I write a monthly column for The Banker magazine, and have been doing this for almost twenty years! But The Banker goes back way longer than my column. In fact, it began in January 1926 when the first issue was published and is now almost a century old. … The post 50 years of ranking 1000 banks appeared first on Chris Skinner's blog.

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The Innovative ‘Green Shoots’ Growing Out Of COVID-19’s Scorched Earth

PYMNTS

There seem to be countless sources of collateral damage associated with the unexpected appearance of COVID-19 in early 2020 – the shutdown of production in China, the ripples through the global supply chain, the virtual zeroing out of the travel and events vertical and the carnage on Wall Street. The uncertainty injected into the market, as Ning Wang, co-founder and chief business officer at PingPong , told Karen Webster in a recent conversation, is having undeniable effects worldwide – which ar

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Simple hires former Tesla exec to revamp CX 

Bank Innovation

Simple, one of the first mobile-only banks in the U.S, is in the midst of rethinking its customer experience to keep pace with new expectations. To do this, it’s querying its customer base to understand pain points, an effort led by former Tesla executive Moin Moinuddin, who joined the company as vice president of engineering […].

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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.

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Coronavirus is pushing U.S. consumers to contactless payments

Payments Source

Contactless cards are a potential refuge for consumers who fear plastic and cash are carrying COVID-19.

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Reports of my (banks) death have been greatly exaggerated

Chris Skinner

I’m getting really fed up of the number of research papers, videos, blogs, headlines and more screaming: “banks will die”. Sure, sure, you’ll immediately go: “but you say that all the time Chris” but, if you check back on what I’ve written, I’ve only ever said that banks will die … The post Reports of my (banks) death have been greatly exaggerated appeared first on Chris Skinner's blog.

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Biometrics: The Key To Overcoming Contactless Payment Limits?

PYMNTS

Digital identity solutions are becoming more and more commonplace, especially as consumers grow increasingly aware of the weaknesses of authentication methods like passwords. A recent study found 32 percent of security incidents in 2019 involved phishing and 29 percent involved stolen credentials, both of which would have been much more difficult had secure digital ID systems been in place.

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Weekly Wrap: Robo-advisors react to the stock market plummet, and Amazon makes a move

Bank Innovation

Welcome to the latest episode of our Weekly Wrap series, for the week ending Friday, March 13, 2020. In this episode, editors discuss the following news developments: How the stock market plummet is affecting robo-advisors; Wirecard expanding internationally through a partnership with the Estonian banking platform Xolo; and Amazon’s move to offer cashierless checkout to […].

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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.