Bank Innovation
APRIL 24, 2020
Let me start this piece with a disclaimer. This is an article telling banks to spend money on technology, and I’m a guy running a company that benefits when banks spend money on technology. So, it’s fair to say that I have some pretty heavy inherent bias. With that bit of transparency established, let’s get […].
Chris Skinner
APRIL 21, 2020
Someone asked me what the coronavirus pandemic means for the future of FinTech. I’ve blogged a bit about that already, referring specifically to this great presentation by Finch Capital: But equally, you may think that times are dull and boring, locked in at home and nothing going on, but there’s … The post What does the #coronavirus crisis mean for #FinTech?
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PYMNTS
APRIL 23, 2020
Branch visits are vital to customers’ financial lifestyles, despite mobile and online banking’s growing popularity. All generations, including 64 percent of baby boomers and 56 percent of those from Generation Z, largely prefer opening accounts in person rather than doing so online, for example, meaning in-branch experiences at financial institutions (FIs) need to be just as advanced as their online offerings.
Payments Dive
APRIL 24, 2020
Small businesses struggling to work with big banks are increasingly turning to fintechs for help with access to PPP loans as well as assistance in obtaining alternative financing sources.
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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.
Accenture
APRIL 23, 2020
In the first blog in this series, I shared some of the observations from a white paper I co-authored with Finastra on corporate APIs. In this blog I would like to discuss how the proliferation of APIs affects banks’ business models. In our view, banks’ future business models will emerge from three main strategies: 1.…. The post New business models for a new banking environment appeared first on Accenture Banking Blog.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
APRIL 23, 2020
The biggest benefactor of the Paycheck Protection Program (PPP) is a Dallas, Texas-based hotelier named Monty Bennett, who has received $59 million from the program intended to help small or medium-sized businesses with the economic crisis. Bennett is the chair of Ashford Hospitality Trust , which manages a number of hotels including Atlanta’s Ritz Carlton and the Marriott Beverly Hills.
Payments Dive
APRIL 21, 2020
The Chinese e-commerce market is one of the most important in the world and represents a lucrative opportunity for digital expansion. However, the nuances of this market are important to understand and the role of mobile expansion is critically important.
Bank Innovation
APRIL 21, 2020
Radius Bank is standing up a Paycheck Protection Program loan forgiveness tool, even as many banks feel left in the dark by the Small Business Administration, which hasn’t yet released details on how the process will work. The Boston-based bank is creating its own solution in advance of the PPP forgiveness process that will start […].
Chris Skinner
APRIL 19, 2020
A lot of things seem irrelevant right now, as we sit in the dark of a crisis, but life will go on and things do go on. It therefore intrigued me to see that Accenture has just performed a survey around purpose-driven banking. Purpose-driven banking is something I started writing … The post Purpose-driven banking research finds a 9% uplift in revenues appeared first on Chris Skinner's blog.
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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
PYMNTS
APRIL 22, 2020
If your $1,200 federal COVID-19 stimulus payment has been deposited into your bank account by the Internal Revenue Service (IRS), consider yourself one of the lucky ones. An IRS spokesman told PYMNTS that only about 80 million payouts – about half of the expected total – had been issued as of last Friday (April 17). That leaves many taxpayers waiting, but the spokesman couldn’t provide a schedule of when payments will be issued.
Accenture
APRIL 24, 2020
The previous five posts in this series looked at some truly exciting and important trends that are shaping the payments landscape in 2020. In this final post, we’ll look at what might be the most influential of them all: the movement of the credit card giants into interbank payments. Card giants like Mastercard, Visa and…. The post How card giants are breaking new ground in payments appeared first on Accenture Banking Blog.
Bank Innovation
APRIL 24, 2020
For many small businesses, the new round of Payroll Protection Program funds is likely to be a godsend. For banks, it could bring another overwhelming rush of desperate borrowers. Many banks are hoping this round of PPP will go smoother — at least somewhat — than the last one. And new technology is being developed […].
Chris Skinner
APRIL 23, 2020
Looking back, the world should have locked down when China did in January. The reason we didn’t? Economics, business, commerce and the financial metrics. If we had? Well, we wouldn’t be suffering nearly as much now. But hey, hindsight is a great thing, isn’t it? One of the things that … The post The politics of pandemics (#coronavirus) appeared first on Chris Skinner's blog.
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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.
PYMNTS
APRIL 21, 2020
COVID-19 has changed daily routines around the world as more consumers have had to stay at home, only venturing out into public for necessities. This is leading companies of all kinds to navigate how to reach them remotely. Financial institutions (FIs) are among the entities that are working to securely meet clients where they are through mobile and online channels to complete tasks that would more often be completed in person.
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.
Bank Innovation
APRIL 24, 2020
Noah, a company that offers financing in exchange for a portion of consumers’ home equity, gives consumers an alternative to home equity loans from banks. With a $150 million funding round from undisclosed institutional investors, up from a $5 million Series A just seven months ago, there appears to be faith in the company’s business […].
Chris Skinner
APRIL 20, 2020
For most of my adult life, we’ve been part of the European Union. The Brexit vote came as a shock, and the unravelling of Britain from Europe for the past four years has been a major stalemate in British life and politics. Now, the whole euro project might come tumbling … The post The future of the Euro (#coronavirus bonds) appeared first on Chris Skinner's blog.
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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
PYMNTS
APRIL 20, 2020
Arne Sorenson, Marriott International Inc.’s CEO, said the deadly coronavirus pandemic will change the experience of staying in a hotel — at least temporarily — according to a report by Bloomberg. He told Bloomberg Television’s Leadership Live broadcast on Monday (April 20) no one knows when the lodging industry will rebound from impacts of COVID-19.
Payments Source
APRIL 21, 2020
Veem specializes in cross-border payments, but when small-business customers clamored for help this month with emergency SBA loans, the fintech responded.
Bank Innovation
APRIL 24, 2020
Armed with automation, APIs and experience, lenders across the country are making preparations to process the torrent of Paycheck Protection Program loans expected when the Small Business Administration re-opens the E-Tran system on Monday at 10:30 a.m. EDT. “Speed is the name of the game. We know there will be a mad dash to the […].
Chris Skinner
APRIL 18, 2020
The main blog headlines are … Will you avoid companies that put profit before people? 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 post The Finanser’s Week: 13th April 2020 – 19th April 2020 appeared first on Chris Skinner's blog.
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With automation, you’ll reduce errors and save valuable time, allowing you to focus on what really matters: strategic analysis and insightful decision-making. Picture accurate financial reports ready at your fingertips, giving you the confidence to tackle business challenges head-on. Embracing automation not only boosts productivity but also elevates your role from number cruncher to closing rockstar.
PYMNTS
APRIL 23, 2020
Financial institutions (FIs) are feeling the pressure to offer increasingly personalized, digital-first services to keep customers satisfied. Crafting the seamlessness customers want means FIs are overhauling their digital infrastructures to enable access to fast, interactive and engaging banking experiences. More banks are therefore moving away from legacy core systems to embrace cloud-native architectures to power automation and meet the speed expected by consumers, securely.
Bobsguide
APRIL 20, 2020
Digital identity verification could become the norm in financial services as social distancing halts in-person identification, according to Andersen Cheng, CEO of Nomidio, a cloud-based identity as a service (IDaaS) provider and cybersecurity company Post-Quantum. “This is really a paradigm.
Bank Innovation
APRIL 23, 2020
Some of the country’s trillion-dollar banks have spent the past three years launching digital offshoots that mimic their startup competitors, but the promise of stand-alone personal finance management apps from incumbent banks remains largely unfulfilled. JPMorgan Chase’s Finn shut down last summer and Wells Fargo’s Greenhouse is still in a seven-state pilot after a year […].
Chris Skinner
APRIL 21, 2020
Things we’re reading today include … Bank of England boss: Loans need to be sorted out Fitch downgrades 10 European banks and warns coronavirus impact could lead to more Chinese bank publishes first-ever banking blockchain white paper RBS digital bank Bo is losing its chief product builder Coronavirus: Branson offers … The post Things worth reading: 22nd April 2020 appeared first on Chris Skinner's blog.
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Community banks seek ways to leverage their technology infrastructure to drive productivity and growth. However, the sheer volume of technology devices, capital constraints, and lack of skilled resources stand in the way. This Strategy Brief explores how a managed device services partner can help bridge this resource gap. Managed device services partners empower community banks to take charge of mission-critical device management activities with: Logistics and installation services to support se
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