Chris Skinner
APRIL 17, 2020
I remember some years ago that Nikolas Sarkozy wanted to bring in a law that would force call centre operators to tell French citizens where they were located, due to the backlash over offshore call centres. I wonder what he would make of today’s world, where most French and European … The post Looking through the banking clouds appeared first on Chris Skinner's blog.
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.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Bank Innovation
APRIL 16, 2020
In the race for wealth assets, current bank wealth group behavior suggests that large accounts matter, while small accounts aren’t worth the effort to cultivate. On the surface, this makes sense. By definition, big accounts have large balances, which in turn yield rich fees. That math is simple and compelling. But fintechs have a different […].
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.
Advertisement
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.
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?
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
APRIL 13, 2020
The Small Business Administration launched its Paycheck Protection Program loans more than a week ago and banks have been racing to keep up with the volume ever since. Rapidly deployed automation technologies are helping community and regional banks keep up with the deluge of applications. “This has been a complete scramble for banks,” said Victoria […].
PYMNTS
APRIL 12, 2020
JPMorgan Chase is attempting to stave off the oncoming economic downturn by raising the standards on who can borrow from them for the time being, according to a Reuters report. The new standards will make it so customers applying for a new mortgage will need a credit score of 700 or higher and will have to make a down payment of 20 percent of the home’s values.
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.
Accenture
APRIL 17, 2020
In the first post in this series, we looked at some of the developments driving change in payments right now: new competition, new customer expectations and new technologies. Banks, in response, are looking for new ways to increase the value they deliver to customers. For many banks, this has involved moving away from traditional value-added…. The post Value-added services are coming to payments appeared first on Accenture Banking Blog.
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.
Bank Innovation
APRIL 13, 2020
Lenders participating in the SBA’s Paycheck Protection Program are trying to find a balance between speed and diligence. On the one hand, the banks are working under tight timelines to disburse the relief funds to small businesses ravaged by the COVID-19 outbreak — in some cases bank employees worked through the night and weekend to […].
PYMNTS
APRIL 13, 2020
For all that has changed dramatically in the last several weeks due to the coronavirus pandemic, consumers are still looking for the same two core offerings in every transaction, no matter what it is or where it takes place: seamlessness and security. An awful lot of other things have changed all around that core, however. Most Main Street businesses are shut down for the time being; workers are away from their offices; and as a result of social distancing, we as a society have concentrated all
Chris Skinner
APRIL 14, 2020
I have a few favourite FinTech firms: Ripple, Prosper, Lending Club, SoFi, Zopa, Monzo, N26, TransferWise, Klarna, Stripe, Alipay, WeBank and more. A lot of it is because I knew these firms as fledglings and have enjoyed watching them grow up. One firm in this crew is Wirecard, the German … The post Building the financial ecosystem one deal at a time appeared first on Chris Skinner's blog.
Accenture
APRIL 15, 2020
Both auto and equipment financiers are seeing the impacts of digital transformation, such as the growth of artificial intelligence, connected vehicles in auto and regulatory changes leading to increased system reliance in equipment. As our Technology Vision 2020 report finds, customers are demanding more flexible ownership models, such as pay-per-use.
Advertisement
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.
Bank Innovation
APRIL 13, 2020
One week after the Small Business Administration launched its Paycheck Protection Program, banks and fintechs alike are still navigating best practices to get funding into the hands of small business clients. As COVID-19 continues to rattle the economy, startups are launching new products and features to engage customers. Last week’s news wasn’t confined to coronavirus-related […].
PYMNTS
APRIL 13, 2020
Three months seems a lifetime ago, pre- coronavirus pandemic, pre-recession, pre-lockdown, pre-bailouts. The stark changes in all facets of daily life for the U.S. (and international) consumer and the businesses that serve them will be center stage as earnings season gets underway, starting, as always, with a slew of big banks. This week, Wells Fargo , JPMorgan Chase , Citigroup , Bank of America and Goldman Sachs will report results for the March quarter and are likely to show volatility, to pu
Chris Skinner
APRIL 12, 2020
The main blog headlines are … How JPMorgan Chase, BBVA, ING, DBS and CMB are doing digital Today is the day that Doing Digital, my newest book, is finally live on Amazon and all good book stores. It’s the result of two years primary and secondary research and, to pay … The post The Finanser’s Week: 6th April 2020 – 12th April 2020 appeared first on Chris Skinner's blog.
Abrigo
APRIL 15, 2020
Key Takeaways Lenders participating in the Paycheck Protection Program (PPP) have obligations after issuing the loan to a small business. Banks and credit unions are seeking guidance on these critical next stages of the PPP. Lenders have had concerns about closing PPP loans, an action that triggers required funding and the forgiveness timeframe for borrowers.
Advertisement
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.
Bank Innovation
APRIL 14, 2020
Last week saw banks and fintechs scrambling to stand up platforms to process Paycheck Protection Program loans, and now the struggle is to keep the platforms running while weeding out potentially fraudulent applications. Fraud is a common trend with government relief programs. In fact, fraud estimates for previous stimulus programs indicate that the Small Business […].
PYMNTS
APRIL 12, 2020
Italian bank Monte dei Paschi was the victim of a hacking attempt, according to a notice seen by reporters recently, Reuters reported. The state-owned bank did not comment but told clients in an email that the attack was on some of the employees’ mailboxes. Some voicemail messages had been sent as attachments because of the attack. The notice did not say there had been any breach of company data, and it didn’t say if customers had lost anything or what the fraudulent emails had been
Chris Skinner
APRIL 12, 2020
Things we’re reading today include … US banks to report earnings under shadow of coronavirus What to Keep an Eye On in Q1 Bank Earnings Reports Just 1.4% of firms enquiring about UK coronavirus business loans successful Loans scheme must work faster, government admits Banks should not be shamed into … The post Things worth reading: 13th April 2020 appeared first on Chris Skinner's blog.
Abrigo
APRIL 14, 2020
Key Takeaways The Federal Reserve recently unveiled a new loan-purchase program, the Main Street Lending Program (MSLP) Unlike the PPP, loans provided under the MSLP are not eligible for loan forgiveness Community financial institutions play an important role in the MSLP. While community financial institutions have been focused on the Small Business Administration’s Paycheck Protection Program (PPP), the Federal Reserve recently unveiled a new loan-purchase program, the Main Street Lending Progr
Advertisement
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.
Bank Innovation
APRIL 15, 2020
Banks scrambling to process Paycheck Protection Program loans will soon have to parse borrowers’ spending data to determine whether those loans will become grants. This is a stipulation for small businesses using the funds for approved purposes, such as payroll and rent. “We don’t have guidance from the [Small Business Administration] at this time on […].
PYMNTS
APRIL 14, 2020
The global pandemic has thrown businesses into an entirely new playing field and left many scrambling to act. Retail demand has risen sharply for items like home cleaning supplies and groceries, while dropping off in other product categories, leaving companies to adjust to these shifting purchasing patterns. Businesses reliant on global supply chains and manufacturers in greatly impacted countries face new hurdles and must seek ways to acquire the items they need.
Chris Skinner
APRIL 13, 2020
We are all stuck indoors, and I wonder what you are doing? In my case, I’m learning a new language. What are you doing? One of they key things to do, and my other hobby, is keep up with ideas as, during this lockdown, there is still a lot of … The post What are you doing during the #lockdown? appeared first on Chris Skinner's blog.
Abrigo
APRIL 14, 2020
Key Takeaways FinCEN issued an update of their joint FAQs to address beneficial ownership requirements for PPP loans. Institutions do not need to re-verify beneficial ownership info for existing customers. Beneficial ownership information must be collected for new customers. . On April 13, 2020, FinCEN issued an update of their joint FAQs with the Small Business Administration (SBA) regarding the implementation of the Paycheck Protection Program (PPP) which was established by the Coronavirus Aid
Advertiser: ZoomInfo
In today’s ultra-competitive markets, it’s no longer enough to wait for buyers to show obvious signs of interest. Instead, sales teams must be proactive, identifying and acting on nuanced buyer behaviors — often before prospects are fully ready to make a purchase. In this eBook from ZoomInfo & Sell Better, learn 10 actionable ways to use these buyer signals to transform your sales strategy and close deals faster.
Expert insights. Personalized for you.
433 
Let's personalize your content