Chris Skinner
APRIL 12, 2020
I’ve been writing a lot about purpose-driven banking, a theme that resonates around the idea that business focus should be more than just making money. It should also focus upon doing good for society and the planet. So, I was particularly struck by this quote from Satya Nadella, CEO of … The post Will you avoid companies that put profit before people?
PYMNTS
APRIL 29, 2020
Businesses that borrow money through the federal Paycheck Protection Program (PPP) can expect to be audited before the loans are forgiven, Treasury Secretary Steven Mnuchin told The Wall Street Journal. “One of the things that will be required is you will have to show a payroll report that you actually spent the money on payroll and other items that qualify for forgiveness,” he said.
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Accenture
APRIL 27, 2020
We’re living through extraordinary times right now. The COVID-19 pandemic is changing business—and much else—forever. The global payments ecosystem has proven resilient in the face of the pandemic. The general public continues to trust payments systems and providers, and no substantial outages of core infrastructure have been reported. But the industry is far from immune….
Payments Dive
APRIL 2, 2020
The debate over whether cash can continue amid growing acceptance of digital payments is a flawed debate, according to PPRO. The best analysis shows that digital commerce and cash need to work in tandem to serve a wide variety of consumers and businesses.
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Join us in this webinar, where we share best practices on how to think about the reconciliation work each month, when best to do reconciliations, how they should be prepared, and some common pitfalls to avoid. Learning Objectives: This course objective is to understand how to properly prepare and review balance sheet reconciliations and its impact on the financial statements.
Chris Skinner
APRIL 1, 2020
These are extraordinary times. No one can remember anything like this, except maybe those over the age of 80. The last time anything like today’s world happened was the Second World War but, as I said the other day, they were fighting each other. We are fighting a thing. The … The post Trillions of dollars of #coronavirus aid appears … from where?
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Dive
APRIL 10, 2020
The Coronavirus Aid, Relief and Economic Security Act signed into law at the end of March provides new loan programs that vary depending on a company's size, in addition to new unemployment and tax benefits.
PYMNTS
APRIL 10, 2020
A new IRS portal for coronavirus relief payments has been launched in conjunction with the U.S. Treasury to assist people who don’t typically file taxes. . The non-filer tool can be used by U.S. citizens and resident aliens who are not claimed as dependents and had gross income below $12,200 ($24,400 for married couples) in 2019, according to the IRS site.
Payments Source
APRIL 13, 2020
Central banks are releasing trillions of dollars to bolster economies through the coronavirus pandemic, giving rise to a pair of trends that could push merchants and consumers to embrace digital currencies as a mainstream payment alternative.
Bobsguide
APRIL 24, 2020
On April 7, 2020, the Financial Conduct Authority (FCA) published its business plan for 2020/2021. Understandably, the FCA’s main immediate focus is to continue to address the challenges presented by the coronavirus emergency. However, that is not the whole story and the FCA is not planning to.
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Treasury teams at community banks face an ongoing challenge of delivering frictionless customer experiences as they support treasury products – especially RDC. This infographic focuses on the efficiencies community banks gain when partnering with a proven managed services provider. You’ll see the advantages you can gain when a managed services partner leverages online tools, skilled customer and technical support personnel, and fulfillment and logistics capabilities to streamline RDC fulfillment
Chris Skinner
APRIL 15, 2020
There’s a great write-up by one of my guest contributors Alex Johnson, about the bad sales culture of most banks. Admittedly, he says it’s partly inspired by my blog of last year about challenger banks, but his write-up takes it further and has a swipe at the whole bank culture … The post Should retail banks be retailers? appeared first on Chris Skinner's blog.
Gonzobanker
APRIL 8, 2020
Financial institutions must help digital-first buyers with meaningful content. Here’s how to do it. As the old “why our stuff is best” sales-pitch falls on deaf ears for digital-first buyers, bank and credit union leaders have slammed into overdrive in their efforts to respond to the industry’s non-negotiable demand for entirely digital delivery. As The Financial Brand’s Steve Cocheo points out , poor digital sales are the result of weak content.
Payments Dive
APRIL 28, 2020
Spurred on by rapid change in government regulations and millions of underserved consumers in the finanical space, Brazil may be on the verge of becoming a major player in the global fintech space.
PYMNTS
APRIL 16, 2020
While most of the world has gone into some version enforced social distancing and quarantine mode with the rise of COVID-19 — closing schools, banning public gatherings, shutting down all non-essential businesses like restaurants and shops and requiring that anyone who can work from home do so — Sweden has been an outlier. Shops in Sweden remain open, as do bars, restaurants, schools and offices.
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Amid market uncertainty, banks and credit unions are faced with critical decisions about the future of their commercial lending. With fluctuating interest rates and rising competition from non-bank lenders, it's critical to allocate your 2025 budget strategically to optimize lending operations. Our Budget Playbook for Commercial Lenders delivers key strategies to help you navigate these challenges, ensuring your institution is well-positioned for the coming year.
Payments Source
APRIL 14, 2020
Though NFC adoption is still somewhat patchwork in the U.S., new data suggests contactless payment transaction volume is rising during the coronavirus outbreak, giving an advantage to banks and merchants that enabled it early.
Bobsguide
APRIL 28, 2020
The financial services sector is a pioneer of digitalisation. With online banking constantly evolving, the industry and its disruptors continue to spearhead customer experience (CX) innovation and shake up the status quo. As digital offerings from FS organisations become increasingly.
Chris Skinner
APRIL 28, 2020
What if we make money truly global, stable and secure? That’s Libra’s ambition and I’ve got to hand it to the guys at Libra. Having announced their idea to create a global currency last summer, and then see it ripped to pieces by regulators, they’re back. Yes, it’s Libra 2.0. What’s … The post Is Facebook’s Libra the next Paypal?
Jack Henry
APRIL 14, 2020
The morning of Friday, April 3, was like no other I have ever experienced in 34 years of commercial lending. One week earlier, the CARES Act had been signed into law, allowing for the creation of a landmark lending initiative known as the Paycheck Protection Program (PPP), to be created to reduce the historic loss of jobs in the US economy due to COVID-19.
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Have you ever felt the pain and loss of a client suddenly going silent, leaving you questioning everything? Ghosting can cause heartbreak; in business, it drains resources, and emotionally, it shatters your confidence. A modern credit card program can give you the tools to deliver the digital-first experiences your customer’s demand. Our eBook, “5 Signs Your Credit Card Offering Needs an Upgrade,” will help you identify key indicators that your current card platform may be holding you back and w
Payments Dive
APRIL 17, 2020
As COVID-19 forced most of the nation's major banks to restrict lobby access, the reduced access along with the economic downturn have placed enormous pressure on bank call centers. Telephone banking reps are doing everything from helping customers apply for stimulus payments to working with consumers who need to extend their payments.
PYMNTS
APRIL 10, 2020
The coronavirus pandemic poses an unprecedented challenge to healthcare systems that will likely extend for months — and perhaps even years — to come. More than ever, hospitals and other medical facilities need to focus their resources on healing the sick and avoid getting bogged down by administrative costs and inefficiencies. This brings a longstanding challenge to the fore: Healthcare organizations have long struggled with fraud, waste and abuse (FWA), costing the United States healthcare sec
Payments Source
APRIL 16, 2020
Credit card chargebacks were rising in certain categories prior to the coronavirus outbreak, but the pandemic is causing a spike in all types of payment card disputes.
BankBazaar
APRIL 29, 2020
The COVID-19 situation calls for calm-headed decisions that help you fortify your household finances and come out of the crisis unharmed. We’re putting together a series of suggestions to help you deal with various facets of your finances. The global economy is in a crisis. The Covid-19 pandemic has pushed entire nations into lockdowns, crushed value chains, and stressed household finances.
Speaker: Brian Muse-McKenney, Chief Revenue Officer & Matt Simester, Cards and Payments Expert
In today’s world of social media, dating apps, and remote work, businesses risk becoming irrelevant (or getting "ghosted") if they fail to meet the evolving needs of Gen Z consumers. Credit cards with flexible payment options, especially for young adults with little-to-no credit history, are a particularly important and valuable solution for this generation.
Chris Skinner
APRIL 26, 2020
Britain’s Got Talent is running right now in the UK and I really enjoyed this comedic sketch by Baptist Minister Allan Finnegan. You may not be able to watch it in your country, so here’s the script: I’ve been married for thirty years, which means my love life is a … The post Banking is not about relationships. It’s about secrets appeared first on Chris Skinner's blog.
Bobsguide
APRIL 2, 2020
Insurtechs may suffer short-term losses from the coronavirus outbreak, but stand to gain in the long-term due to an increased need for digital offerings. Conversely, traditional insurers may face long-term disruption to business models, according to Johnny Stubbs, UK head of insurance and.
Payments Dive
APRIL 7, 2020
The economic fallout of COVID-19 has increased demand for real-time payments by small business and consumers as revenue sources begin to dry up and consumers and businesses face deadlines for bill payment and essential goods.
PYMNTS
APRIL 10, 2020
Intimidated by the scale and cost of a massive technological overhaul, large financial institutions (FIs) may approach their digital transformation (DX) journeys gradually, targeting various areas of operations to modernize one-by-one. While this strategy can yield results, it can also create silos, hampering a bank’s ability to achieve one of the most vital goals of DX: seamless integration of operations that boost efficiency and improve the end-user experience.
Speaker: Gary Dmitriev
Our upcoming webinar aims to demystify the process of selecting and implementing automation tools for financial institutes. This session will provide your roadmap for vetting potential solutions, focusing on due diligence, vendor assessments, and aligning technology with strategic goals. We’ll also address the critical issue of innovation fatigue, offering tips on maintaining enthusiasm and momentum for new initiatives.
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