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.

Auditing 141
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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 »

Sales 90
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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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How to Extend Your Planning Solution with Sales Performance Management

Jedox Finance

In our first post in this blog series, we discussed the benefits of automating Sales Performance Management (SPM) and the related challenges. Sales Compensation Management is the most critical business function within SPM. In this post, we will discuss the capabilities needed in a modern planning solution for effectively handling Sales Compensation processes and why Jedox is uniquely suited for it.

Sales 52
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How to Build the Ideal HR Team

HR doesn’t exist in a vacuum. This work impacts everyone: from the C-Suite to your newest hire. It also drives results. Learn how to make it all happen in Paycor’s latest guide.

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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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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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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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Planning Your Restaurant's Path to Profitability

Speaker: James Kahler, COO of Full Course

Ever wondered where to splurge and where to safely conserve when it comes to operating and growing your restaurant? 🤔 Join James Kahler, COO of Full Course and industry visionary, in this new webinar where he'll talk all about best practices to invest in your restaurant's success! Whether you're a new business or an established restaurant, a seasoned pro or a rookie, you'll learn the keys to sustainable success in this competitive industry.

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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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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.

eCommerce 103
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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.

Economics 103
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How Automation is Driving Efficiency Through the Last Mile of Reporting

Speaker: Jamie Eagan

As organizations strive for agility and efficiency, it's imperative for finance leaders to embrace innovative technologies and redefine traditional processes. Join us as we explore the pivotal role of digitalization and automation in reshaping what is commonly referred to as the “last mile of reporting”. We’ll deep-dive into why digitalization is no longer a choice, but a necessity for finance departments to stay competitive in a fast-paced environment touching on: 2024 trends for the Office of

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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.

eCommerce 100
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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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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. 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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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.

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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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Savings Rate Surges To Highest Level In 39 Years

PYMNTS

The shaky coronavirus economy has promoted people to sock money at levels not seen since 1981. A Bureau of Economic Analysis report released on Thursday (April 30) indicated that the savings rate escalated to 13.1 percent in March, with people putting away $2.17 trillion. Comparatively, the savings rate in February was 8 percent. The savings rate peaked at 12 percent in December 2012 but dropped to 5.8 percent in 2013. .

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Building The ‘Home Oasis’ One Smart Device At A Time

PYMNTS

The house (or the apartment or the studio or your parents’ basement) is increasingly becoming a focal point of daily life. Time, then, to picture the house as a bit more like home. As PYMNTS found in one recent study, “ Navigating The COVID-19 Pandemic: The Post Pandemic Reset ,” as many as 32 percent of consumers plan to do far less outside the home than they had done before the coronavirus hit.

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Accounting Software and ERP Readiness Guide

In this white paper, we explore the factors to consider in deciding whether the time is right for your Company to consider a new ERP or accounting software, the total cost of ownership and plans necessary to make the potential leap to these systems.

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In Brazil, Banking Customers Turn To Debit, Digital Banking

PYMNTS

The coronavirus pandemic has left consumers staying home when possible to stop the virus’s spread. It has also made them wary of taking on debt because their financial circumstances could change at any moment. These shifts have made digital banking and debit transactions more important than ever. Financial institutions (FIs) are now working to extend services into customers’ homes, for example, and consumers are making fewer credit card payments amid uncertainty over what their employment status

Banking 95
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Why It’s So Hard To Kill The Check In The Booze Business

PYMNTS

The new coronavirus swiftly impacted small- and mid-sized businesses (SMBs) rather harshly, with these entities now struggling to manage remote workers who need to send out paper invoices to suppliers and other business partners attached to checks. Moving from paper to digital has evolved for business-to-consumer (B2C) payments in recent years, but upgrading business-to-business (B2B) payments has taken longer.

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Facebook Could Lose Accreditation Of Media Rating Council

PYMNTS

Facebook Inc. advertisers probably won’t “like” its subpar rating from a media industry watchdog. The Media Rating Council (MRC) review found that the California-based social media giant has failed to address advertisers’ concerns arising from an Ernst & Young audit over how it measures and reports data about video advertisements. . “The Committee felt strongly that the lack of response and detailed action plans by Facebook within 60 days would lead them to take negative action,” according

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How FIs And FinTechs Are Expanding The Credit Card Paradigm

PYMNTS

As consumers shop amid ongoing public health restrictions, they almost invariably reach for their credit cards — whether the physical varieties in their wallets or the digital versions stored on their browsers and mobile devices. Cash and brick-and-mortar transactions were already on the decline, but the pandemic is sure to hasten these trends. More than ever, credit cards are becoming the coin of the realm in the global connected economy.

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Recruit and Retain New Blue-Collar Talent

Blue-collar jobs have a branding problem. One company, GEON, partnered with Paycor to find the solution. Learn how to attract, engage, and retain blue-collar employees, helping them build meaningful careers – and support your company’s goals.