Sat.Apr 25, 2020 - Fri.May 01, 2020

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Mnuchin Now Says All PPP Loan Recipients Will Face Audits

PYMNTS

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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Keys to a successful sales performance management transformation in insurance

Anaplan

Anaplan’s Head of Financial Services Solutions Henri Wajsblat interviewed Anaplan partner and Accenture Managing Director Anupam Mohapatra about the transformation of the distribution landscape in the insurance industry, related sales performance issues, and the benefits of the Anaplan platform to … Keys to a successful sales performance management transformation in insurance Read More »

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Trending Sources

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Book Review: The Man Who Solved the Market

CFA Institute

James Simons has lived a life that begs for a biographer.

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Breaking Down the FP&A Function of the CFO Suite

BlueLight

Traditionally, the chief financial officer (CFO) is responsible for tracking the company’s past and present financial situation and ensuring on-time and accurate financial reporting. Today, the CFO is expected to inform strategic decisions that drive the success of the company. This function is called financial planning and analysis (FP&A). Depending on the size of the company, the FP&A function can look very different.

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The Human Side of Finance: The Intersectionality of People, Culture, Adaptability, and Resilience

Speaker: Melissa Hurrington

Finance isn’t just about the numbers. It’s about the people behind them. In a world of constant disruption, resilient finance teams aren’t just operationally efficient. They are adaptable, engaged, and deeply connected to a strong organizational culture. Success lies at the intersection of people, culture, adaptability, and resilience. Finance leaders who master this balance will build teams that thrive through uncertainty and drive long-term business impact.

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Instant Replay: PPP Loan Site Flatlines On Opening Day Of Second Round

PYMNTS

The second round of Paycheck Protection Program (PPP) funding was an instant replay of the first, as the loan network collapsed from the tsunami of applications from small businesses desperate for relief. . “All of the reports I have around the country is that it’s been a disaster,” Paul Merski of the Independent Community Bankers of America told The Washington Post (WaPo) on Monday (April 27).

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More Trending

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Don’t Panic! Coronavirus, GDP, and Unemployment

CFA Institute

This is no ordinary recession or depression, and it cannot be measured by ordinary means.

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P&G AMA CFO talks about leadership in finance

Future CFO

Visit any supermarket and you will find a product, if not a range of products, that carry the label P&G discretely emblazoned in the back of the packaging: P&G or Procter and Gamble. An American multinational consumer goods corporation with 97,000 employees working in 80 countries, and revenue of US$67.68 billion in 2019. P&G Singapore is home to over 2,000 employees from 40+ nationalities and serves as regional headquarters for Asia Pacific, Middle East and Africa (AMA).

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Crypto Businesses Overcome The Challenge Of Getting Banked

PYMNTS

The volatility of cryptocurrencies and their existence in what’s often a grey area of regulatory compliance make businesses operating in this sector an unattractive target for traditional financial institutions. Today, there remains a broad spectrum of positions that regulators and financial service providers hold when it comes to working with crypto businesses.

Banking 113
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Mastercard: Half Of Consumers Now Using Contactless Payments

PYMNTS

As nations put limitations into place to support social distancing in February and March, Mastercard reported that a significant share of consumers tapped into contactless payments for purchases. Seventy-nine percent of respondents in a global study indicated that they are now tapping into contactless payments, pointing to cleanliness and safety as crucial drivers.

Finance 110
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Maximizing Profit and Productivity: The New Era of AI-Powered Accounting

Speaker: Yohan Lobo

In the accounting world, staying ahead means embracing the tools that allow you to work smarter, not harder. Outdated processes and disconnected systems can hold your organization back, but the right technologies can help you streamline operations, boost productivity, and improve client delivery. Dive into the strategies and innovations transforming accounting practices.

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Visa’s Jack Forestell On Helping SMBs Fast Track Into The Digital Age

PYMNTS

After many weeks and months of social distancing, the world is now actively and audibly wondering when the economic recovery will begin. Visa ’s Executive Vice President and Chief Product Officer Jack Forestell told Karen Webster that it’s the wrong question to ask. The recovery, he contends, is already underway. The pandemic and the recovery aren’t two separate events that will happen in sequence — but are two connected happenings playing out contiguously.

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Reinventing Retail Will Mean Embracing New Formats

PYMNTS

Reinventing retail in the wake of COVID-19 may mean reinventing retail formats. As the discussion turns to reopening, non-essential locations — malls included — will need to consider old issues like total footprint and new ones like shopper distancing. “As retailers and brands grapple with big questions related to reopening stores, it’s clear from our findings that consumers have varying degrees of comfort within different store environments and formats,” said Greg Petro, CEO of retail testing c

Retail 108
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Figure’s Mike Cagney: Stimulus Snafus Show It’s Time For Digital Dollars – And Blockchain

PYMNTS

Nothing brings money to top of mind like tax season — and tax refunds and stimulus payments , doled out in the wake of a pandemic known as the coronavirus. The trillions of dollars in stimulus funding and tax refunds being extended to families, individuals and businesses is coming — but slowly. Very slowly. The first waves of $1,200 (for individuals) or $2,400 (for couples) and $500 checks (per child), for taxpayers, started hitting bank accounts earlier in the month.

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When Consumers Are Remote, Banks And Credit Unions Come To Them

PYMNTS

The COVID-19 pandemic has prompted traditional banks to take fresh looks at their digital initiatives and has given digital-only banks the opportunity to learn about the advantages and hurdles of serving customers primarily through online and mobile channels. Many physical bank branches have temporarily closed or reduced service hours to better safeguard their employees and spare themselves the costs of operating branches now that consumers are staying home.

Banking 105
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Smarter Card Solutions: Meeting the Challenges of Mid-Market Travel & Expense

Our 2025 Center Travel Survey is clear: as corporate travel increases, so does corporate credit cards distribution, and a rise in off-platform travel booking. This 61% rise causes various challenges: compliance, spend control, reporting problems, and a lack of visibility across organizations. To evolve with the ever-changing needs of travelers, decision-makers need a better solution.

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Big Banks Temporarily Shut Out Of SBA’s PPP Loan Portal

PYMNTS

For the first time since a small business loan program was launched, small lenders have been moved to the front of the line. On Wednesday (April 29) the U.S. Treasury Department and the Small Business Administration (SBA) said they will temporarily exclude big banks from the loan portal used to submit applications for the SBA’s Paycheck Protection Program (PPP) for eight hours.

Banking 105
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US eCommerce Up 49 Pct; Curbside Pickup Soars 208 Pct Since April 1

PYMNTS

As the coronavirus shows no signs of abating, customers are opting to make their purchases without setting foot in stores, CNBC reported. Dozens of retailers, from Dick’s Sporting Goods to Walmart , have added contactless shopping services, and it’s caught on. The number of orders placed online and picked up at stores surged 208 percent between April 1 and April 20 compared to a year ago, according to Adobe Analytics, CNBC reported.

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Next Round Of $1,200 IRS Stimulus Checks To Go Out Soon

PYMNTS

The latest round of checks under the massive U.S. stimulus program is set to go out in the next few days. The key groups who will receive these payments include people who aren’t required to file tax returns, such as those who receive Social Security, Supplemental Security Income (SSI) and veterans’ affairs benefits. In addition, tax filers who have recently provided bank information to the IRS will get the payments.

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Moving Augmented Reality Out Of The Living Room

PYMNTS

Shopping, like everything else in the business world, is falling into pre- and post- coronavirus pandemic reference points. Many retail technologies have benefitted from that schism, among them augmented reality (AR). Before the crisis hit, there were any number of ways to envision what, for example, a sofa would look like in a living room. Post-pandemic, showrooms are out of the question.

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Bringing AI to Finance: How to Leverage Technology for Efficiency and Control

Finance teams are balancing more than ever, but manual processes shouldn’t slow you down. In this ebook from BILL, discover how AI is transforming finance—automating AP, expense tracking, and document management to reduce errors, increase efficiency, and improve financial control. Learn how real companies are using AI-powered automation to streamline workflows, detect anomalies, and gain deeper insights.

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Banks Aim AI At Credit Risk, Payments Services

PYMNTS

Of the seemingly inexhaustible uses of artificial intelligence (AI) in the financial sector, its applications around managing credit risk and optimizing payment services are among the most promising. The proliferation of “smart agents” that handle these tasks is a glimpse of more innovation to come, as AI proves its worth to financial institutions (FIs) in the great reopening.

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MoneyGram’s Walk-In Business Hit By The Coronavirus As Digital Transactions Surge

PYMNTS

With its walk-in business taking a large negative hit due to the coronavirus pandemic and stay-at-home orders, MoneyGram reported 57 percent digital transaction growth for the first quarter of 2020. The money transfer company said performance was driven by high client retention rates, market growth and strong demand for the company’s app. However, Chairman and CEO Alex Holmes said on a Friday (May 1) earnings call that the company’s walk-in business saw a sudden and abrupt impact starting with m

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How COVID-19 Is Creating A ‘New Normal’ For Credit Unions

PYMNTS

Shutdowns. Lockdowns. Shuttered branches. Banking may be forever altered. The ongoing coronavirus pandemic is disrupting financial services, as consumers pull back on spending, raise cash to deal with emergencies and take to ordering, well, everything online. In an interview with PYMNTS, Steve Salzer, senior vice president, legal and enterprise risk at PSCU , said that amid the disruption, opportunities are taking shape for credit unions (CUs) to cement their relationships with existing customer

Banking 99
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Deep Dive: Strategizing Transparent, Holistic Digital Banking Transformations

PYMNTS

Financial institutions’ (FIs’) consumers and business clients expect instant access to needed financial services regardless of which devices they use, but reality can fall short of their expectations. Banks do not always have the budgets or resources to craft cutting-edge online and mobile experiences, although they can no longer afford to put off digital transformations.

Banking 99
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Say ‘Goodbye’ to Clunky Spreadsheets and Say ‘Hello’ to Month-End Automation

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, emails, and shared drives no longer need to slow you down. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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Why APIs, Privacy Are Key To Open Banking Innovation

PYMNTS

Open banking developments were impacting customers’ interactions with their banks before the COVID-19 pandemic. Financial institutions (FIs) and regulators in Singapore, the E.U. and the U.S. have passed laws or implemented programs over the past two years to put more focus on digital banking and data security, fundamentally changing how online transactions work.

Banking 98
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‘Paging Dr. Spot’ – How Robots Are Helping Doctors Make The Rounds

PYMNTS

Robotics adoption has had something of a rocky road in the U.S. market in the last several years. While the CES show in Las Vegas has in recent memory been rife with robots of all shapes, sizes and specialties, reception among consumers and businesses has been mixed at best. It was a little over a year ago that PYMNTS covered in this very column the tragic and untimely deaths of the Anki and the Jibo, two early efforts at consumer robotics that entered the market with a lot of buzz, but ultimate

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FinTechs Expand Open Banking Opportunity For Banks

PYMNTS

New solutions continue to roll out as a result of open banking frameworks around the world and banks’ increasing willingness to collaborate with FinTechs. This week’s look at the latest in bank-FinTech collaborations reveals two new open banking initiatives from FinTechs designed to address back-office friction for banks. Meanwhile, other partnerships between banks and FinTechs embrace data sharing to target friction for joint small business customers.

Banking 95
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Contextualizing The SMB Credit Score Through Open Banking

PYMNTS

Businesses have a front-row seat to the market volatility resulting from coronavirus. As governments around the world work with financial institutions to connect these companies to capital, many firms are quickly recognizing just how drastically their financial worlds have been turned upside down. One business client of small business credit scoring company CRIF Realtime experienced this firsthand.

Banking 95
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Outsourcing Vs. In-House: The Ultimate Battle For Better Collections

Speaker: Susan Richards

Your past-due accounts are growing, cash flow is tightening, and the pressure is on. The big question: Do you handle the collections internally or outsource to experts? Both strategies come with advantages and risks - but which one delivers the best impact for your business? In this session we’ll dive deep into the in-house vs. outsourcing debate, examining cost-effectiveness, efficiency, compliance risks, and overall recovery success rates.