article thumbnail

How a fintech born from the 2008 recession is navigating the pandemic

Payments Source

The coronavirus pandemic is affecting different markets in vastly different ways, and easing the flow of capital is just one way to provide help. Bill Clerico created WePay during the last financial crisis, and sees a similar opportunity now.

Fintech 206
article thumbnail

Coronavirus Is ‘Cross Between 9/11, 2008 Financial Crisis,’ Officials Say

PYMNTS

Banking officials are in a panic over the coronavirus as it upturns their revenues, with PJT Partners restructuring specialist Tim Coleman describing the viral pandemic as “like a cross between September 11 and the global financial crisis of 2008.”.

Meeting 141
Insiders

Sign Up for our Newsletter

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

article thumbnail

The US could be facing a 2008-style financial crisis. Why does Sunak want to copy it?

TheGuardian

The PM’s admiration for Washington’s economic model may backfire amid looming US banking and stock market disasters One of the consistent themes of the Conservative economic narrative is an admiration for the US and its ability to grow quickly. And how both these habits could bite back in a big way, much as they did in 2008, and pretty soon.

US 110
article thumbnail

Taking Control of Your Funds to Mitigate Risk with Kyriba

Perficient

I was onsite at a client’s office on September 29, 2008, when the stock market began to crash. As the Covid-19 pandemic continues to breed its own economic and logistic chaos for businesses globally, I am reminded of the Treasury Management system’s importance.

Software 322
article thumbnail

Should You Be Marking Loans To Market?

South State Correspondent

The AOCI is an accounting adjustment meant to reflect the economic value of assets and is the process of “marking loans to market.” In this article, we explore what signals marking your loans to market might send. However, the public markets were another story. A Short History of Asset Marks. Capital got scarce.

Marketing 195
article thumbnail

Report: Taxpayers Face $400B Hit On Bad Student Loans

PYMNTS

The figure, which approaches banks’ losses during the 2008 sub prime mortgage crisis, resulted from an analysis performed by the U.S. Private lenders lost $535 billion on low-quality mortgages during the 2008 Global Financial Crisis, Mark Zandi of Moody’s Analysics told the WSJ, according to Saturday’s article.

Report 283
article thumbnail

Google Slows Hiring, Cuts Marketing Amid COVID-19

PYMNTS

The coronavirus’ impact has not eluded Google , which announced a hiring freeze and a slashing of marketing budgets on Thursday (April 23). The tech giant said it would be cutting budgets for marketing by as much as half, according to CNBC, which saw internal documents from the company. In 2019, the company spent $18.46

Google 150