Tue.Oct 12, 2021

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Malware is Calling. Will Your Users Answer?

Jack Henry

Phishing – in the modern digital world, you no doubt have an idea of what phishing entails, but do you know where the name comes from? In the mid-90s, hackers were fast at work targeting America Online (AOL) accounts. Hackers knew most users wouldn’t take the bait from rather obvious email-based “fishing” lures, but they also knew a select few, out of the sea of internet users, would inevitably respond.

America 109
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How the cloud is revolutionizing financial technology

ATM Marketplace

By utilizing the cloud, financial institutions can not only reduce infrastructure costs, but they can also acquire products and services much quicker than under traditional circumstances.

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A brief guide to implementing digital card programs

BankInovation

Financial service providers continue to rethink and evolve delivery models to accommodate today’s need for robust self-service financial experiences. Where the “personal touch” was once prized among all other interactions, today’s focus is on social distancing recommendations and remote capabilities — pushing banks to identify and deliver digitally-based capabilities that the times, and consumers, now […].

Cards 98
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Hawaii enacts significant changes to small-dollar lending law

CFPB Monitor

Hawaii recently enacted significant changes to its small-dollar lending law that repeals existing Hawaii law on deferred deposits and creates a new regime for installment loans. Although H.B. 1192 took effect on July 1, the repeal of the existing law on deferred deposits is effective January 1, 2022 as is the new licensing requirement for “installment lenders.”.

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Digital Transformation: Accelerating ROI and Growth in Commercial Lending

Now is the time for lenders to prioritize their digital transformation initiatives in preparation for the lending rebound. Rising competition and ever-increasing customer demands for speed and efficiency are forcing financial institutions to embrace digital transformation. This shift can feel overwhelming—where do you begin? This infographic illustrates automation demands and shows you how loan document automation serves as an essential step to increase profits and provide the best lending exper

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Payroll API provider Atomic raises $22 million in series A funding round

BankInovation

Atomic, a payroll integration API provider, has raised $22 million in a series A funding round announced Tuesday. The round was led by Core Innovation Capital and saw participation from Portag3 Ventures and Greylock Capital, both existing investors in Atomic. The funds will be used toward scaling Atomic’s offerings and onboarding new staff. Atomic’s APIs […].

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Digital identity could be ‘huge advantage’ for FIs

BankInovation

Digital identity, a technology concept floated in financial services and broader economic discussions over the last decade, offers considerable economic and other benefits, but requires a supporting infrastructure. "Foundational public digital infrastructure will accelerate the growth of the digital economy," Alan Lim, head of the Fintech Infrastructure Office at the Monetary Authority of Singapore, said […].

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Stripe, Hubspot, And JP Morgan Are Buying Audiences. Why Acquiring Media Companies And Communities Is About To Explode

CB Insights

Over the last month or so, JP Morgan has purchased 2 content/media assets. In early September 2021, it bought The Infatuation, a publisher that offers reviews and recommendations on restaurants in 50 cities across the USA and internationally. And later in the month, it bought Frank, an online portal with content and tools that help students research and apply for financial aid.

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Closing the tech investment gap: How mid-tier banks can get ahead

BankInovation

When it comes to choosing a bank, customers indicate that a leading digital experience is one of their top two deciding factors — bested only by product pricing and offers, according to recent Kearney research. The sophistication of a bank’s digital operations is no longer a nice-to-have; instead, digital innovation has become table stakes in […].

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Is NerdWallet Worth $5B? Analyzing Personal Finance Education & Content Valuations And Multiples

CB Insights

Last week, NerdWallet filed to go public. The company was bootstrapped for many years before ultimately raising multiple funding rounds from the likes of RRE Ventures and Institutional Venture Partners, among other investors. NerdWallet’s market. The company competes in the US financial services digital advertising market, which, per the company’s S-1, is expected to be worth more than $23B in 2021 and has been growing at double-digit rates annually.

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The State of Automation in Financial Services 2024 Report

In this report, you’ll find a comprehensive analysis of survey responses from executives at banks, credit unions, and insurance companies concerning their organization’s current and future use of automation. The report’s key insights include: Which types of automation are saving organizations the most time and money How to overcome the biggest barriers to automation implementation and adoption Why automation investments will continue to grow over the next few years How much you could save in 202

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UK Credit Cards: August Data Reveals Consumer Confidence

FICO

Global analytics software provider FICO today released its analysis of UK card trends for August 2021. The summer holidays and a continued reliance on pandemic savings probably contributed to a growth in average spend on cards. But the signs of financial pressure are also evident with an increase in average balances on accounts with missed payments and growth in card usage on cards – another sign of financial stress.

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Microsoft Acquires OKR Software Firm Ally.io, Which Was Last Valued At $354.1M

CB Insights

Microsoft , a computer technology company, has acquired Ally.io , an Objectives and Key Results (OKR) software firm, for an undisclosed amount. WHO ARE THE PARTIES TO THE DEAL? Ally.io – Seattle-based Ally.io’s solution enables businesses to monitor goals and manage performance. Since its inception less than 3 years ago, the startup has created over 1M OKRs.

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Software firm Monit latest beneficiary of small banks’ fintech funding

American Banker

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The Mom Project, A Job Search Platform For Women, Raises $80M To Accelerate Product Development

CB Insights

The Mom Project , a platform for mothers looking to rejoin the workforce, has raised $80M in a Series C. The round drew participation from Citi Ventures, Grotech Ventures, High Alpha, and OCA Ventures, among others. How’s the company performing? The Mom Project is based in Chicago and helps connect female job seekers, especially mothers who have left the job market, with employers.

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Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance

Commercial lending is on the verge of a resurgence, but traditional processes are an obstacle. Explore the top 3 reasons for resistance to digital transformation and how overcoming them can pave the way for growth and efficiency. Discover why embracing automation and digital solutions is crucial for success in today's competitive landscape. Discover how GoDocs helps commercial lenders in the digital era with seamless integration and a borrower-focused approach.

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Is modernizing National Bank Act the answer to fintech charter woes?

American Banker

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Productfy, A Banking-As-A-Service/Embedded Finance API Company, Raises $16M In Series A Funding

CB Insights

Productfy , a banking-as-a-service (BaaS) platform, has raised $16M in a Series A. This round drew participation from 500 Global, CM Ventures, Envestnet, and Point72 Ventures. How’s the company performing? California-based Productfy offers an API that enables fintech companies to develop financial applications. The company’s platform allows developers to move from ideation to full-stack deployment in under 3 weeks.

Company 57
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Thunes, Bank 131 expand real-time payments to Russia

The Paypers

Singapore-based cross-border payments fintech Thunes has announced the ability to provide instant cross-border bank payments to Russia, according to the official press release.

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VantageScore Solutions names trade group exec as new CEO

American Banker

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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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Bottomline launches Payments Tracker using SWIFT's API

The Paypers

US-based fintech Bottomline has partnered with Belgium-based messaging platform SWIFT to launch and API-based payments tracking service for banks, integrating SWIFTgpi data.

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Umpqua, Columbia merging to create $50 billion-asset West Coast bank

American Banker

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FrankieOne closes USD 20 million Series A funding round

The Paypers

Australia-based identity and fraud-prevention platform FrankieOne has announced it has secured USD 20 million in Series A round to power its international expansion.

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Wage increases undercut banks’ push to cut costs

American Banker

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Top 10 Benefits of Automating Loan Modifications for Commercial Lenders

Get ready for the wave of $1.2 trillion in commercial debt maturing in the next 24 months with GoDocs' ModDocs® platform. Traditional loan modifications are slow, expensive, and prone to errors, which put lenders at risk. But with ModDocs®, you can enjoy an innovative solution that eliminates attorney fees, allows on-the-fly loan modifications, and ensures compliance.

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The United Arab Emirates announces new federal data protection law

The Paypers

The United Arab Emirates government has announced it will introduce a new federal protection law (UAE Data Law) in the coming weeks

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Umpqua, Columbia set long timeline for completing merger

American Banker

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BofA Crushing It with Financial Wellness App (Here’s Why)

The Financial Brand

The megabank succeeded where others failed by creating a channel-agnostic 'engagement platform' that Millennials and Gen Z love. The post BofA Crushing It with Financial Wellness App (Here’s Why) appeared first on The Financial Brand - Banking Trends, Analysis & Insights.

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Visa, Mastercard and Ripple plant flags in the NFT market

American Banker

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2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

As we step into 2024, the lending landscape evolves rapidly with technology, regulations, and market dynamics driving change. For banks and financial institutions to stay competitive and meet the evolving needs of their customers, these drivers must be understood and engaged with. Lenders can anticipate significant transformation fueled by technological advancements, regulatory shifts, and changing consumer behaviors.