Chris Skinner
JUNE 26, 2020
Another day and another headline about Wirecard: ‘The money’s gone’: Wirecard collapses owing $4 billion Wirecard’s Missing Billions Forces Out CEO, Panics Lenders Wirecard: Former boss arrested over €1.9bn scandal How Wirecard fooled most of the people all of the time Inside Wirecard Why was Frankfurt so blind for so … The post Wirecard or Weirdcard?
Accenture
JUNE 29, 2020
In our last post, we looked at how central banks can harness the power of data. We move on now to the second pillar. Pillar 2: Enable and drive innovation A key role for central banks is to enable and promote a vibrant financial sector. In the digital age, that means helping to cultivate new…. The post Next-gen central banking | Pillar 2: Enable and drive innovation appeared first on Accenture Banking Blog.
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Payments Dive
JUNE 16, 2020
As millions of Americans have shifted their daily workplace and shopping to remote online networks and mobile devices, a new wave of cyber threats have emerged focused on targeting banks, e-commerce and other daily financial activities.
South State Correspondent
JUNE 22, 2020
Since March of this year, many community banks have been working to provide cash flow relief to customers who have sound business models but require some temporary payment restructuring caused by business disruption as a result of the Covid-19 pandemic. CenterState has been involved in those same restructurings both as a lender and as a hedge provider under the ARC program.
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It's the time of year to give our close process some TLC. Join us in this one hour webinar where we discuss how to adopt leading practices and infuse technology into the month-end close process to improve our experience and increase our productivity during month-end and quarter-end close. Learning Objectives: This course's objective is to understand how the month-end close can be improved with automation and adoption of leading practices.
Abrigo
JUNE 18, 2020
Key Takeaways New PPP loan forgiveness applications are out from the SBA, including an EZ Form 3508 aimed at streamlining the process. Neither of the new forgiveness application forms nor revised guidance mentioned any kind of “blanket forgiveness” for PPP loans under a certain dollar amount. Lenders and borrowers also received updated guidance on compensation amounts eligible for forgiveness over the extended 24-week period.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Accenture
JUNE 18, 2020
Digital financial services are clearly impacting banks. But they are also forcing central banks and regulators to rethink and restructure their approaches to becoming resilient, adopting new technologies, leveraging data and constructing an agile operating model, all while providing regulatory services. Hence, regulators need to step up to stay relevant in the digital economy.
Chris Skinner
JUNE 24, 2020
A friend of mine, Alessandro Hatami, wrote an interesting piece on Sifted that I shared in my news yesterday. He claims that neobanks like Monzo and Starling are not reinventing banking at all. They’re just modifying and improving it. Alessandro then goes on to cite the key things that banking … The post Is FinTech getting it wrong? Focus on needs and wants appeared first on Chris Skinner's blog.
Payments Dive
JUNE 9, 2020
PPRO takes a future view of how COVID-19 may permanently change the payments landscape.
Abrigo
JUNE 30, 2020
Key Takeaways FinCEN released guidance for financial institutions around banking hemp-related businesses. CDD requirements are risk-based and require the grower to provide their compliance with licensing requirements. SARs should only be filed if suspicious activity is detected beyond legal hemp growing. . From the time that the Agriculture Improvement Act of 2018 (2018 Farm Bill) removed hemp from the definition of marijuana within the Controlled Substances Act, the financial services industry
Advertiser: ZoomInfo
Incorporating generative AI (gen AI) into your sales process can speed up your wins through improved efficiency, personalized customer interactions, and better informed decision- making. Gen AI is a game changer for busy salespeople and can reduce time-consuming tasks, such as customer research, note-taking, and writing emails, and provide insightful data analysis and recommendations.
Perficient
JUNE 17, 2020
We’re excited to announce that Perficient has expanded to South America with the acquisition of Productora de Software S.A.S. (PSL), a nearshore software development company based in Medellin, Colombia. With this acquisition, Perficient furthers our commitment to optimized global delivery as an approach to help lower delivery costs while maintaining high quality.
PYMNTS
JUNE 21, 2020
HSBC Hong Kong ‘s new application programming interface (API) will simplify the payment system for businesses down to a one-stop payment hub, a press release says. The service will let businesses incorporate the instant electronic Direct Debit Authorisation (eDDA) into their own systems, along with real-time funds transfer services. That will allow businesses to eliminate the cumbersome old ways, which required them to sign onto their bank accounts to set up a direct debit instruction and
Accenture
JUNE 24, 2020
The COVID-19 pandemic has affected every industry and banks certainly have not been spared. The situation for banks today is, however, very different than that which they faced in the 2008-09 financial crisis. Banks are generally stronger and better capitalized than they were then. And, rather than being a cause of the financial problems, banks…. The post Six ways banks should work with consumers in the COVID-19 era appeared first on Accenture Banking Blog.
Chris Skinner
JUNE 29, 2020
During my MoneyBox interview about Wirecard (see end of this blog), Paul asked me the question: how could this happen again? What’s next? And I said, we learn from our mistakes. Progress never stops. Wirecard won’t shut down FinTech. It will amend it. This means this is not the end … The post BaaS works, it’s the regulations that don’t appeared first on Chris Skinner's blog.
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Automation is changing the game for commercial lenders, offering a clear path to competitive advantage in 2025. Rising costs, outdated workflows, and manual data entry slow growth and impact borrower satisfaction. Automation addresses these challenges, reducing costs, speeding up loan cycles, improving accuracy, and elevating borrower experiences. With market uncertainty easing, now is the time to act—waiting until loan volumes rebound leaves lenders unprepared and struggling to compete.
Payments Dive
JUNE 26, 2020
Restaurants looking to recover from the COVID-19 pandemic should consider a series of contactless ordering and payment technologies that will help bring customers back in a secure and healthy environment.
South State Correspondent
JUNE 29, 2020
Recent survey data from borrowers that took a Paycheck Protection Program (PPP) loan was surprising as more borrowers than we first expected will be using the EZ Form and fewer borrowers than expected will be using the 24-week covered period. In this article, we breakdown some of this data and then discuss how it might impact your PPP Forgiveness Process in the coming months. .
Perficient
JUNE 17, 2020
One tool to configure them all, one tool to define them, One tool to initialize them all and in the repository bind them. -->. The core paradigm for the Java Content Repository (JCR) , the repository for Adobe Experience Manager (AEM) is Everything is Content. This principal drives the flexibility which made AEM a market-leading solution. It does, however, come with a downside, managing the initial repository state is challenging since the repository state is a combination of the content, code a
PYMNTS
JUNE 8, 2020
United Nations global blockchain expert Massimo Buonomo has foreseen a future where digital currencies could replace low-interest bank accounts, Coindesk reports. Low interest rates, he said, were the main enticement for people to come and join a new bank — but they would be obsolete in competition against an official digital currency, which could easily process a digital payment the same way.
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Remote Deposit Capture (RDC) clients are more likely to use additional treasury services and maintain larger deposits. However, poor customer experiences—particularly if they delay deposits—can compel RDC clients to take their business elsewhere. This eBook makes the case for outsourcing RDC operations to a proven managed services partner. This approach helps Treasury Departments with limited resources provide excellent client experiences that result in higher retention and productivity rates.
Accenture
JUNE 24, 2020
We all know the industry is rapidly moving to digital. Evidence from our banking market research—and echoed by the current pandemic environment—suggests that we have indeed moved into a period of volatility and industry change, and that digital maturity is at least one of the factors that will separate future winners from losers. The question…. The post Transforming core banking with the right technology appeared first on Accenture Banking Blog.
Chris Skinner
JUNE 7, 2020
There’s no logical reason for this, but I’ve decided the second week of June is women’s week. It’s a week to celebrate diversity, or the lack of diversity, in finance and technology. So, this week’s blogs are all about women and finance and technology. To start with, let’s look at … The post Are banks too full of testosterone?
Payments Dive
JUNE 2, 2020
The COVID-19 pandemic has led to a shift in payment preferences, as consumers are increasingly using contactless alternatives that can work at the point of sale or remotely.
South State Correspondent
JUNE 1, 2020
PPP forgiveness is fraught with peril for bankers. Done the wrong way, and it will suck countless resources. Aside from having a good process and/or technology platform, having a marketing plan will be the difference between success and failure. If done correctly, an application can take 20 minutes to review and approve. If done incorrectly, that same application will take over three hours.
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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
Perficient
JUNE 30, 2020
How much do people use voice commands with their devices, and what do they use them for? We wanted to know, so for the fourth year in a row, we asked over 1,000 people (1,123 this year) how they use voice, when they use it, and why. If you want a snapshot of how voice is used by people today, then you’ve found it. So, why do we care? Simple: The voice revolution is coming, perhaps not as fast as everyone originally thought , but it’s coming.
PYMNTS
JUNE 22, 2020
PayPal will offer direct cryptocurrency sales for customers, CoinDesk reports. The FinTech giant, which has 325 million customers, will allow this feature for those who want a new wallet functionality for the popular service, according to unnamed sources, the report said. It would be an upgrade of the current PayPal functions for withdrawing funds from sources like San Francisco’s Coinbase.
Accenture
JUNE 2, 2020
In his report on the top 10 banking trends for 2020, our global banking lead, Alan McIntyre, made a telling observation: that the focus of Open Banking has shifted from payments initiation services to consumers’ data rights. The impact? Today, banks don’t just need to show that they can be trusted with aggregated customer information.…. The post The impact of new payments methods on the payments landscape appeared first on Accenture Banking Blog.
Chris Skinner
JUNE 30, 2020
I recently did a podcast and webinar with the Institute for International Finance (IIF). The timing was great because they’ve just produced a set of three reports about digital transformation in partnership with Deloitte. I can thoroughly recommend the three reports so here they are: Realizing the Digital Promise: Part … The post Realising the digital dream (free research) appeared first on Chris Skinner's blog.
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.
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