Mon.Oct 11, 2021

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Q2 2021 US card issuer earnings commentary

Accenture

Credit Card Receivables & Purchase Volume YoY Growth: 2Q21 Earning call commentary Growth “We’ve ramped up our acquisition engine. We’re pleased to see overall acquisitions of proprietary cards, which include our co-brands, increased to 2.4 million new cards acquired in the quarter.”– American Express “Spending accelerated as COVID vaccinations increase, business reopen, and domestic….

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Market Commentary: Week of October 11, 2021

SWBC's LenderHub

Last Week. It was a chaotic week for just about every asset class. The supply of goods and services across the globe continues to have the transitory camp scrambling to redefine “transitory," as we saw WTI crude oil touch $80 during the week. The Commodity Research Bureau Raw Material Index ended the week less than one percent from its all-time high.

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Making Banking Easier with Intelligent Branch

Cisco

It’s a time of transition and digital transformation in financial services. Whether a retail bank, wealth management firm, credit union, or insurance company with a banking segment, the financial industry is facing dramatic changes on how best to accommodate customers, and what is the appropriate mix between brick-and-mortar bank branches, remote work, self-service ATMs, and digital platforms.

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Banks and real-time payments players team up on cross-border payments

BankInovation

Banks on both sides of the Atlantic have created a high-speed cross-border payments proof-of-concept project headed up by three powerhouses of payment and messaging. The Immediate Cross-Border payments (IXB) initiative proves that it’s possible to synchronize settlement in one instant payment system, with settlement in another, and to convert real-time messages between both systems, according […].

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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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CFPB Section 1071 proposed rule on small business lending data collection published in Federal Register

CFPB Monitor

More than a month after it was issued, the CFPB’s notice of proposed rulemaking (NPRM) to implement Section 1071 of the Dodd-Frank Act was published in the Federal Register on Friday, October 8. Section 1071 amended the ECOA to require financial institutions to collect and report certain data in connection with credit applications made by women- or minority-owned businesses and small businesses.

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Philip Hammond adds cryptocurrency role to post-Treasury jobs list

TheGuardian

Former chancellor joins Copper.co as adviser weeks after being criticised by Westminster lobbying watchdog The former chancellor Philip Hammond has added another job to the dozen or so he has taken on since leaving the Treasury in 2019, this time as an adviser to a Mayfair-based cryptocurrency trading firm. Lord Hammond, who also served as foreign secretary and was an early supporter of bitcoin and other digital currencies, joined Copper.co with immediate effect on Monday.

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Dimon sees crypto headed toward U.S. regulation: IIF update

BankInovation

JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said that cryptocurrencies are going to be regulated as anxiety around stablecoins and the asset class more broadly has been growing in Washington. “Blockchain can be real, stablecoins can be real,” Dimon said at the Institute of International Finance annual membership meeting, held virtually again this […].

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Bank Onward Is New Online Division Of ConnectOne Bank

BankDeals

The inaugural account offered by Bank Onward (online division of ConnectOne Bank) is the Bo Savings account, which currently has a rate-leading APY.

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Mbanq partners with Temenos to accelerate Banking-as-a-Service in the US

The Paypers

US-based Mbanq , a Banking-as-a-Service provider, has signed a strategic agreement with Temenos , the open cloud banking company, to launch a Credit-Union-as-a Service (CUaaS) offering, and to accelerate BaaS adoption across the US.

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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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National Online Bank Day - Do Branches Lower Savings Account Rates?

BankDeals

It's not clear if online-only banks that have no branch network have a significant rate advantage over online banks that have a branch network.

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MobiKwik receives Sebi approval for USD 252 million IPO

The Paypers

India-based fintech MobiKwik has receiver market regulator Sebi’s approval to launch an IPO through which it plans to raise up to USD 252 million.

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Find a better deal with our guide to home loan comparison rates

Qudos Bank

When you’re looking for a new home, it’s unlikely that you end up buying the very first one you see. Instead, most people attend a few open homes to learn about the local market and understand what good value looks like, before making their purchase decision. Choosing your home loan should be the same - shopping around and comparing your options before you apply can help you find a better deal and save you serious money in the long run.

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Raiffeisen Digital Bank, Mambu launch lending app

The Paypers

Digital Bank, a brand of Raiffeisen Centrobank , has announced that their new personal lending mobile app has gone live on Mambu , according to IBS Intelligence.

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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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Citizens National Bank Offers Rewards Checking In East Tennessee

BankDeals

Citizens National Bank has been offering its competitive Rewards Checking in eastern Tennessee for more than five years. Available online or in-branch.

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Industry scrambles to prepare for CFPB debt collection rules

American Banker

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HyperPay expands in Qatar

The Paypers

Saudi Arabia-based payment gateway HyperPay , has forayed Qatar in order to cash in on the opportunities in view of the 2022 FIFA World CUP.

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Payments Innovation Explodes, Sparked by Pandemic Disruption

The Financial Brand

Squeezed by rapid changes, traditional providers scramble to meet the challenge of what a new Capgemini report calls a 'Payments 4.X' world. The post Payments Innovation Explodes, Sparked by Pandemic Disruption appeared first on The Financial Brand - Banking Trends, Analysis & Insights.

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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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HyperPay expands in Qatar

The Paypers

Saudi Arabia-based payment gateway HyperPay , has forayed Qatar in order to cash in on the opportunities in view of the 2022 FIFA World CUP.

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Banking Needs To Do More Than Talk About Financial Inclusion

The Financial Brand

By tapping data and advanced analytics, banks and credit unions can deliver meaningful solutions to underserved communities at scale. The post Banking Needs To Do More Than Talk About Financial Inclusion appeared first on The Financial Brand - Banking Trends, Analysis & Insights.

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FinMarie receives EUR 1.4 million in financing

The Paypers

Germany-based financial startup FinMarie has received early-stage financing of EUR 1.4 million.

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Three Key Trends Will Dominate the Auto Lending Landscape in 2022

The Financial Brand

Auto finance is dramatically changing. Here's what banks and credit unions need to know to stay competitive in this vital market. The post Three Key Trends Will Dominate the Auto Lending Landscape in 2022 appeared first on The Financial Brand - Banking Trends, Analysis & Insights.

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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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EBA CLEARING, SWIFT and The Clearing House partner to augment cross-border payments

The Paypers

France-based fintech EBA Clearing , Belgium-based messaging platform SWIFT and US-based banking association The Clearing House have teamed up to improve cross-border payments.

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Loving Your People: Your New, Surefire Business Strategy

Digital Growth Institute

“. It's about the humans that are at the workplace, they're at the center of your business. And making sure that all of your business strategy and everything you do you take that into consideration from a people-first approach. And that's like the simplest way to defining love as a business strategy.” --Mohammad Anwar.

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Western Union Digital integrates UAE Pass

The Paypers

Cross-border payments operator Western Union and UAE-based financial services provider Al Fardan Exchange have teamed to enhance Western Union’s digital customer experience in the UAE.

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Pinning the tail on the economy: why domestic developments aren’t enough

BankUnderground

Simon Lloyd and Ed Manuel. Central banks don’t just care about what is expected to happen. They also care about what could happen if things turn out worse than expected. In line with this, an emerging literature has developed models for measuring and predicting overall levels of macroeconomic risk. This body of work has focused on estimating the level of ‘ tail risk ‘ in a country by monitoring a range of domestic developments.

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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.