Tue.Aug 03, 2021

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How to make empathy part of UK banks’ digital skillset

Accenture

In this short series of blogs I’m exploring how the behaviour of UK financial services customers has changed amid the pandemic. In the first two posts, I drew on the UK findings of our Banking Consumer Study: Making digital more human to examine how COVID-19 has affected the shift to digital banking services across different…. The post How to make empathy part of UK banks’ digital skillset appeared first on Accenture Banking Blog.

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The Libor Absurdity Continues

SWBC's LenderHub

"Each year, the Great Pumpkin rises out of the pumpkin patch that he thinks is the most sincere. He's gotta pick this one. He's got to. I don't see how a pumpkin patch can be more sincere than this one. You can look around and there's not a sign of hypocrisy. Nothing but sincerity as far as the eye can see." – Linus Van Pelt, It’s the Great Pumpkin Charlie Brown!

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Finalists announced for Bank Customer Experience Summit Awards

ATM Marketplace

The finalists have officially been announced for the Bank Customer Experience Summit Awards, which will be held in Chicago during the summit, which will run from Sept. 13 to 15.

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Square announces its largest-ever acquisition

BankInovation

Square announced Sunday that it would acquire Australian fintech Afterpay for $29 billion, its largest acquisition to date. Afterpay, a Buy Now Pay Later (BNPL) service, allows customers to break up a transaction into installments. This fast-growing type of unsecured lending is changing the game for retail and online purchases, consulting firm McKinsey & Company […].

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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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UK finance giants plan to buy out fossil fuel plants in order to shut them

TheGuardian

Climate campaigners say HSBC’s involvement is ‘cynical’ attempt to distract from investments in coal power A group of the UK’s biggest financial institutions plan to hasten the phasing out of coal power in Asia by buying out fossil fuel plants in order to shut them down within 15 years. Finance companies including lenders HSBC , Citi and BlackRock Real Assets together with UK insurer Prudential are working with the Asian Development Bank on the plans, according to a report by Reuters.

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This Andreesen Horowitz-Backed Company Raised $120M To Enhance Its Digital Bank

CB Insights

Mercury , a fintech company, has raised $120M in a Series B. The round drew participation from Coatue Management, Andreessen Horowitz, CRV, and Sapphire Ventures, among others. In a separate transaction, the company is also aiming to source $5M from equity crowdfunding platform WeFunder. HOW’S THE COMPANY PERFORMING? California-based Mercury is an online banking platform that offers a suite of financial services such as FDIC-insured bank accounts, physical and virtual cards, and cash manag

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Carlyle to invest in Abrigo at $1 billion-plus valuation

BankInovation

Abrigo, an Accel-KKR-backed software provider for financial institutions, has secured an investment from private equity firm Carlyle Group Inc. The Austin, Texas-based company is valued at more than $1 billion after the investment, according to people with knowledge of the matter who asked not to be identified discussing private information. Terms of the deal weren’t […].

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Career Profile: From Bank Marketing to Chief Diversity Officer

ABA Community Banking

Bank marketing skills and experience can inform and inspire professionals to take on new leadership challenges. The post Career Profile: From Bank Marketing to Chief Diversity Officer appeared first on ABA Banking Journal.

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SimpliFi launches Card as a Service plaftorm after closing Seed round

The Paypers

UAE-based payments platform SimpliFi has launched its `cards as a service` platform in the Middle East and Pakistan region.

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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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DepositAccounts Releases Annual Top200 Bank & Credit Union Lists

BankDeals

DepositAccounts.com evaluates the financial health of federally-insured banks and credit unions in the United States once per quarter and has been tracking healthy institutions since 2010.

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Scoring Conference is a Showcase for FICO Analytic Innovations

FICO

The annual Credit Scoring and Credit Control Conference is regarded as Europe’s premier showcase for anyone working at the forefront of credit, AI, machine learning, scoring and all the related areas of data science. This year's four-day programme takes place between August 24 and 27. It's nominally slated as an Edinburgh event. But as with most live public speaking opportunities at the moment, there are no delegates, face-to-face sessions, or any regular workshops.

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Rapyd raises USD 300 mln Series E

The Paypers

Global Fintech-as-a-Service company Rapyd has raised a USD 300 million Series E funding round led by Target Global.

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Nebraska bank teams with fintech to help businesses avoid cash crunches

American Banker

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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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IDB's DIDI unveils blockchain digital identity project in Argentina

The Paypers

The Argentina-based blockchain and digital identity DIDI Project has announced it will launch initiatives addressing digital government management.

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So, you want to be a card issuer?

Tomorrow's Transactions

Card issuing seems to be hot right now. Despite the rise of alternatives to card payments, many Fintech’s appear intent on adding payment cards to their product portfolios. And it is not just the “me too” start-up banks. For example, some international remittance services are adding payment cards to their offerings. This allows customers to… Continue reading So, you want to be a card issuer?

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BigCommerce partners with Sezzle as its new preferred BNPL partner

The Paypers

US-based full service commerce platform BigCommerce has announced fintech company Sezzle as a new preferred Buy Now, Pay Later (BNPL) partner.

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Why smaller banks may follow megabanks' lead on climate disclosures

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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EVO Payments acquires payment gateway Anderson Zaks

The Paypers

US-based payments company EVO Payments has announced the acquisition of Anderson Zaks , an UK-based omnichannel payment gateway.

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OCC chief's climate focus riles GOP senator

American Banker

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STICPAY announces local bank wire service in Hong Kong

The Paypers

US-based e-wallet payment provider STICPAY has announced a new local bank wire service in Hong Kong.

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Square Acquired This Australia-Based ‘Buy Now, Pay Later’ Platform For $29B To Offer Interest-Free Installment Payments

CB Insights

Square , a financial services provider, has acquired Afterpay , a buy now, pay later platform at a $29B valuation in an all-stock deal. The deal is expected to close in Q1’22. WHO ARE THE PARTIES TO THE DEAL? Afterpay: Australia-based Afterpay allows customers to pay for their purchases in interest-free installments. The company has 16M active customers and 100K active merchants across 9 countries.

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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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Broadridge Financial Solutions acquires Alpha Omega

The Paypers

Broadridge Financial Solutions , a financial technology company, has acquired Alpha Omega , a FIX-based post-trade solutions provider for the investment management industry.

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Prepaid cards fill gaps in Canada's banking market

American Banker

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Tencent launches its NFT trading platform

The Paypers

Tencent has launched an NFT trading platform named Huanhe.

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How Afterpay deal could transform Square

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.