Banks rethink branch operations on back side of COVID-19 threat

Mobile Payments Today

Major banks are reviewing plans to relaunch branch operations after the peak of the COVID-19 pandemic in the U.S., but executives and experts say some key changes in bank operations will likely continue going forward

Amazon Seeks 100K Workers For Operations Roles

PYMNTS

As it plans to bring 100 new operations facilities online in September, Amazon announced on Monday (Sept. It has also directly developed over 600,000 employment positions domestically throughout operations locations and company offices. “We

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Finding the right operating model and governance for Open Banking

Accenture

When transitioning to Open Banking, one of the key considerations for banks is their operating model and governance structure. The post Finding the right operating model and governance for Open Banking appeared first on Accenture Banking Blog. Uncategorized Governance Open Banking Operating ModelsIf banks do not adapt to new ways of working, they may risk losing market share to savvy new digital entrants.

California Lets Aurora Operate Driverless Cars

PYMNTS

Aurora, with logistical operations currently in Palo Alto, Pittsburgh, and San Francisco, has approximately a dozen self-driving vehicles used for testing on American public roads.

Democratizing AI for All: Transforming Your Operating Model to Support AI Adoption

Democratization puts AI into the hands of non-data scientists and makes artificial intelligence accessible to every area of an organization. With the emergence of enterprise AI platforms that automate and accelerate the lifecycle of an AI project, businesses can build, deploy, and manage AI applications to transform their products, services, and operations. But in order to reap the rewards that AI offers, it is essential that businesses first address how their organizations are set up, from their people to their processes. Democratizing AI through your organization requires more than just software. It may require changing your operation models and finding the right guidance to realize the full breadth of capabilities.

Gig Economy Drone Operators Could Soon Pilot Last-Mile Delivery

PYMNTS

As reported by CNN , Connecticut-based Aquiline Drones is aiming to debut a smartphone app that will allow licensed drone operators to do short-term, project-based work as drone pilots. Federal Aviation Administration (FAA) requires that drone operators be certified.

Judge To Decide Whether Uber Can Operate In London

PYMNTS

Bloomberg News reported that Transport for London (TfL) will stay neutral and let the court decide whether Uber can operate in its biggest European market. Citing that Uber was unfit to hold a license, TfL suspended the company’s operations last November. As Uber Technologies Inc.

European Mall Operator Citycon Works On BOPIS Service

PYMNTS

To enable customers to shop from the complete selection of multiple mall offerings and retrieve their purchases from one place, European mall operator Citycon is creating a buy-online-pick-up-in-store (BOPIS) service.

Why Mexico’s SMBs Need A FinTech Operating System And Not Another Bank

PYMNTS

The world needs a FinTech operating system.”. Emerging markets have their own challenges when it comes to banking, where big, traditional financial institutions (FIs) are anything but efficient.

Freight Logistics Startup Buys Uber’s European Freight Operation

PYMNTS

That followed a joint venture with Poste Italiane, one of Italy’s largest logistics operators. Berlin-based digital road freight logistics startup sennder announced Wednesday (Sept. 16) it has acquired Uber’s European freight business in an all-stock deal. The U.S.

Marketing Ops: The New Revenue Hero

As data continues to play a starring role in today’s B2B organizations, both marketing and sales operations professionals are poised to solidify their place as critical revenue drivers. In particular, the evolution of the Marketing Operations (Ops) role has created a new standard in marketing and has become a vital component of an organization’s success.

Operant Calls for Consortium to Improve Debt Collection

Bank Innovation

Operant Founder and CEO Allan Fisch said at a meetup yesterday at Bank Innovation’s headquarters in New York that a consortium would allow the FIs to contribute anonymized data on the performance of their third-party […]. Artificial Intelligence Cards Compliance Daily Post 1 Exclusive Lending Open Fintech Operations Premium Retail Risk Startups artificial intelligence Big Data credit data analtyics debt collectionToronto-based fintech Operant.AI

Wirecard Makes Deals To Sell Its Brazil, Britain Operations

PYMNTS

As Wirecard AG’s global operations close following its bankruptcy filing, the German payment company has agreed to sell what’s left, the Financial Times reported. In addition, he noted that the sale of some of the company’s operations in Britain and North America could be announced soon.

What’s holding you back from modern banking operations?

Accenture

In the first of a four-part series, our team of guest bloggers will share how getting to simplified, future-ready bank operations may be more easily imagined. . However, banks are unable to support this if they do not modernize their operations. North America bank operations executives say that by 2020, up to 40 percent of their bank’s spending on digital transformation will be in operations. 1 So, how do banks get to simplified, future-ready bank operations?

Uncovering the Hidden Efficiencies in Loan and Deposit Operations

Gonzobanker

Addressing common loan and deposit operations process inefficiencies can help financial institutions deliver optimized value to customers and stockholders. In recent years, many financial institutions have been focused on improving their digital delivery capabilities, often at the expense of their operational groups. Now, a shift is under way in FIs’ operational units as the conversation turns to transforming legacy banks into “smarter banks.”.

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.

Lithuania Suspends SatchelPay Operations

PYMNTS

6) that the nation’s central bank has suspended the company’s activities because it allegedly failed to provide the government with required financial data on its operations this year. The Bank of Lithuania has suspended the majority of activities of payments company SatchelPay , reports said Tuesday, barring the Lithuanian company from issuing electronic money or providing part of its payment services. The Industry Spread reported Tuesday (Aug.

MasterCard strengthens ties to mobile network operators

Mobile Payments Today

The Purchase, New York-based card network has already helped MNOs such as Vodafone Ukraine, Digicel Group in the Caribbean, Viettel Telecom in Vietnam and Taiwan's Chunghwa Telecom to roll out various services related to digital payments

Wirecard North America goes on market, while operations allowed to resume in UK

Mobile Payments Today

UK regulators reached agreement to let operations resume there Wirecard North America officials said the company was looking for a new owner as the multi-billion accounting scandal at the German-based payments firm reverberated across the globe.

Mayzus Financial Now Operating as Money Polo

Mobile Payments Today

The co-owners of a large FX business numbering about 40 thousand active clients-traders turned to us with the task to create a single payment service for the purpose of minimization of expenses for operations

The ABC’s of Recruiting for Gen Z

Take a look around you at any given moment, and somebody is likely surfing the web on their phone. In 2020, society has fully immersed itself in the web and all it has to offer - and no one more so than those of Generation Z. With “Gen Zers” beginning to enter the workforce at entry-level positions, it’s crucial to understand that this generation operates differently from the last. With this caveat in mind, read on to learn how to adapt your recruiting strategy to appeal to this pool of potential employees.

RecVue, Effectus Group Partner To Boost Order To Cash Operations

PYMNTS

A press release Thursday (July 9) says Effectus Group , which does consulting work for a myriad of industries including technical accounting, IPO services and financial operations, can aid companies on revenue services and modernizing the receiving and processing of customer orders.

Groups 187

Pandemic-Proof Finance Operations Are Cloud-First And Global

PYMNTS

Noting that some countries are able to operate more normally now than the U.S., As 2020 has proven, the cloud has won, and is the only meaningful path for modern financial commerce and operations. “Once a business solves its digital transaction processing issues, they need to start considering how to efficiently and effectively go global. The world economy won’t wait for the U.S. to recover.”.

Deutsche Bank To Overhaul Trading Operations

PYMNTS

Deutsche Bank has announced that as part of a complete overhaul of its trading operations it’s creating a non-core asset unit, or “bad bank,” to house tens of billions of euros in assets, according to a report by the Financial Times. Also as part of the changes, the bank’s equity and rates trading operations outside of Europe are going to be either closed or become smaller. Banking banking derivatives Deutsche Bank News trading operations What's Hot

Operation BLACKHAT

Perficient

Operation BLACKHAT. He has hired other gang members for this operation. Operation BLACKHAT: After an hour, the Blackhat went to the location to collect the ransom. The operation was foiled by the rival gang. He is called “ REDHAT ” who was after the Blackhat for years only to ruin their operations every time in their own way. It was revealed that the operation was funded by the Bluehat who thus was the ex-business partner of Mr.Sanjay.

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.

Taking Digital Approaches To Marketplace, Restaurant Operations

PYMNTS

Online marketplaces have been essential for companies and consumers who want to transact under stay-at-home mandates, but these platforms need formidable security approaches in place to prevent fraudulent sellers from joining or scams from occurring. And in retail, digital innovation is mitigating COVID-19 impacts for dining establishments, while Walmart and Amazon are competing for holiday spending. All this, Today in Data.

PSD2 Creates Turbulence For Travel Operators

PYMNTS

With PSD2 in full swing in the European Union (EU), any merchant dealing with the payment data of EU citizens must upgrade their payment protocols to stay compliant. That said, the fact that PSD2 is effectively changing how merchants transact doesn’t mean the merchants in question understand what those changes mean.

Bank Expenditure Operational Risk

Banker to Banker

Operational risk gets the short shrift in banking. Credit and interest rate risk are the big men and woman on campus (just to throw in a back to school metaphor) while operational risk is usually relegated to the shallow end of the pool. That is unfortunate because operational risk is real and often realized more than both credit and interest rate risk.

How Customer Reviews Provide Lifeblood For Restaurant Operations

PYMNTS

How Customer Reviews Provide Lifeblood To Restaurant Operations. That focus has only grown amid the takeout- and delivery-only operational shifts due to COVID-19-related social-distancing efforts. The following Deep Dive explores the influence digital reviews have on restaurants’ standings with customers, the impacts of negative feedback and how operators can use the world’s digital focus to their advantage.

Mastercard Selects New President For European Operations

PYMNTS

He will be tasked with developing strategy, direction and comprehensive success of Mastercard’s operations across 53 countries in Europe. Mastercard has appointed Mark Barnett as president of its European business headquartered in Brussels. Mastercard’s European businesses cater to more than 950 million people via business partnerships with retailers, financial institutions (FIs) and other companies.

Apple Resumes Operation Of All China Retail Locations

PYMNTS

has reportedly put all of them back into operation. After it was forced to shutter its retail locations in China because of the spread of COVID-19, Apple Inc. The closures were one of the main reasons the tech company cited for removing its March quarter sales outlook, Bloomberg reported. Apple has been slowly reopening the locations, with 38 of the 42 shops open for business as of last week.

Careem Concludes Operations In Sudan

PYMNTS

Less than a year after the ride-hailing company rolled out in Sudan, Careem has concluded its operations in the country, with a planned takeover by Uber on the horizon. The firm started its Sudan operations in September 2018 following the lifting of economic sanctions by the United States in 2017, Reuters reported. A spokesperson said in a statement, “There are no plans to close any other markets, and ceasing Sudan operations will not have any effect on Careem’s other markets.”

Bank of America Turns to Electronification of Cash to Reduce Operational Costs

Bank Innovation

Capital Cards Corporate Exclusive Mobile Online Open Fintech Operations Retail artificial intelligence Bank of America credit cards Goldman Sachs Mobile banking Robotics ZelleEXCLUSIVE – Bank of America seeks electronification of cash not only as way to better serve its banking customers but also as an excellent way to reduce costs: according to Bank of America CEO Brian Moynihan, this digitization of cash can save the bank billions of dollars.

PPP Resumes Operation, But Delays Continue

PYMNTS

The Paycheck Protection Program (PPP), which is intended to distribute loans to small businesses affected by coronavirus pandemic shutdowns, resumed activity on Monday (April 27) and it wasn’t even a full day before more reports of now-familiar glitches and delays resumed as well. This next round of the PPP entails a $310 billion haul for banks to loan to businesses in need.

BMO’s Digital-First Transformation Unlocks Operational Efficiencies

PYMNTS

These operations are quantifiably more efficient: A recent study found that customers typically spend nine minutes to acquire a check from a bank teller, but only 40 seconds to complete the same task with a self-service kiosk.