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Doing Digital: Presentation, Slides, Video, Transcript [FREE]

Chris Skinner

I don’t know how you guys are holding up, but I’m finding myself on lots of videoconferences, even delivering a keynote in Tokyo the other day from my home office in Poland. The event was recorded and so I thought I’d share the video and transcript with you.

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US Mall Owner Taubman Tells Tenants To Pay Up


mall owner Taubman is telling tenants that their rent must be paid despite the inability to meet obligations, according to a CNBC report on Sunday (March 29).

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An open letter to banks on SMS Authentication

Mobile Payments Today

To protect against fraud, the banking industry needs to find alternative methods for authentication beyond SMS verification

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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.

Satellite Internet Startup OneWeb Closes After SoftBank Fund Raise Fails


OneWeb , which wanted to make internet access worldwide and widespread, has filed for bankruptcy and let most of its employees go after it couldn’t get any more funding, according to a press release.

How Lenders Can Prepare for The New SBA 7(a) Paycheck Protection Program


Key Takeaways Financial institutions hoping to help small businesses land an SBA 7(a) loan through the Paycheck Protection Program should act now to prepare for customers seeking help due to the coronavirus crisis.

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ATM industry looks to federal lifeline amid COVID-19

Mobile Payments Today

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

Weekly Wrap: Coronavirus dislocation continues to rock fintech

Bank Innovation

In a week that saw the coronavirus pandemic amplify in the United States, the fintech sector continued to weather economic dislocation and uncertainty.

Venmo, Square Cash Vie For Stimulus Funds Distribution


Venmo and Cash App want to be considered as ways the U.S. government could deliver its stimulus funds to help the coronavirus-wrecked economy. The popular apps have seen widespread use in recent years, though the government thus far has not adopted either one for any official means.

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FATF Updated List of Jurisdictions with AML/CFT Deficiencies


Key Takeaways Albania, Barbados, Nicaragua among the countries added to the FATF watchlist. Trinidad and Tobago is removed from the FATF list. Iran and the DPRK are kept on the watchlist.

Things worth reading: 30th March 2020

Chris Skinner

Things we’re reading today include … Jeff Bezos sold $3.4bn of Amazon stock just before Covid-19 collapse Dozens of poorer nations seek IMF help amid coronavirus crisis ECB tells euro zone banks to skip payouts as virus hits economy ‘Hell is coming’: how Bill Ackman’s TV interview tanked the markets … The post Things worth reading: 30th March 2020 appeared first on Chris Skinner's blog. Reading

Banking industry groups seek help on COVID-19

Mobile Payments Today

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

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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?

GrainChain Accelerates Farmer Payments With Blockchain


GrainChain , the farming blockchain system for agriculture and farming business, has moved to the Symbiont network, Assembly, a change which the company anticipates will help expand its business, according to a press release.

Abrigo Poll: Bankers Expecting a Recession for at Least 2 Quarters; Troubled Debt and Liquidity Top List of Concerns


Key Takeaways Three out of four bankers expect a recession will last at least two quarters Economic uncertainty has shifted questions regarding estimating the allowance for credit losses under CECL Managing troubled loans and liquidity top bankers' list of concerns.

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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.

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 Jelena McWilliams Capital Failures Deposit insurance Coronavirus Community banks Loan-loss provisions

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Digital dollars gain credence despite stimulus bill cut

Bank Innovation

While the proposal to distribute digital dollars was struck from the new $2.2 trillion stimulus bill designed to buoy the economy, the proposal alone could accelerate a more widespread adoption of a cryptocurrency. When Maxine Waters (D-Calif.),

COVID-19 Triggers Need For Cash As Lenders Tighten Reins


As a potential recession lurks, FinTechs, traditional banks and other financial institutions (FIs) are tightening the reins on loans to small businesses and households with shaky credit, The Wall Street Journal reported Saturday (March 28).

Federal Reserve Suspends Exams for Banks Under $100 Billion


Key Takeaways The Fed will temporarily suspend exams for banks with less than $100 billion in assets. Banks over $100 billion in assets will have some exam activity deferred. The Fed extended time for existing remediation responses by 90 days.

Things worth reading: 27th March 2020

Chris Skinner

Things we’re reading today include … ABN Amro takes $200m hit from failure of a single client America’s central bank is not the only one doling out greenbacks Big banks reassure staff about potential job cuts An imaginative template for dealing with the cash crunch How UK banks are offering … The post Things worth reading: 27th March 2020 appeared first on Chris Skinner's blog. Reading

Fed plowing ahead with stress tests. But should it?

American Banker

Many argue the economic turmoil from the pandemic makes the Comprehensive Capital Analysis and Review irrelevant this year, while others say testing banks’ capital strength is crucial now more than ever. Capital requirements Federal Reserve Stress tests Risk management Coronavirus Regulatory relief

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.

Lyft Directs Drivers To Pursue Amazon Positions As Rides Decline


While the coronavirus forces consumers to stay inside, Amazon is joining forces with Lyft to attract drivers for grocery and package deliveries.

Guidance on TDRs Eases Coronavirus Workout Pressures


Key Takeaways Banking regulators say short-term, COVID-19-related loan modifications shouldn't automatically be categorized as TDRs. FASB affirmed this guidance for borrowers who were current prior to relief. The guidance makes it more palatable for institutions seeking to help borrowers affected by the coronavirus crisis. Regulators also announced other guidance tied to reporting and risk-based capital rules.

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Things worth reading: 26th March 2020

Chris Skinner

Things we’re reading today include … Credit Suisse slashes ousted CEO’s bonus by almost £2m Banks warned against profiteering from UK coronavirus crisis India’s huge outsourcing industry struggles with work-from-home scenario Banks under fire for coronavirus loan tactics Banks and business caught out by emergency measures How to pay for … The post Things worth reading: 26th March 2020 appeared first on Chris Skinner's blog. Reading

Emergency coronavirus program gives fintechs a shot at SBA lending

American Banker

No online lenders are approved for the agency's traditional programs, but they could make loans under the COVID-19 stimulus package if they get special approval. SBA Fintech Coronavirus Small business lending

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

Walmart Enacts No-Touch Protocols


Walmart is enacting no-touch procedures so that customers can shop more safely during the coronavirus outbreak, according to a report by USA Today.

Coronavirus – Lessons Learned from Italy


Key Takeaways We can learn about potential fraud from previous cases such as Italy. Fraudsters capitalized on vulnerabilities from shifts in daily life due to coronavirus. Organizations must learn from the lessons learned in Italy to protect themselves from cybercrime. .