Tue.Jun 08, 2021

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Open Banking and CDR: The open data economy

Accenture

In our last post we discussed the different channel strategies banks can adopt when considering their place in the open banking ecosystem. We spoke about the opportunity this brings for banks to distribute their products through non-banks and for banks to distribute non-bank products. Globally we are seeing this happening already, and conversations are increasingly….

Data 360
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OFAC Sanctions: Lessons from Deutsche Bank

Abrigo

Real consequences from OFAC sanctions violations OFAC compliance has increased in complexity and clarity with guidance released within the past few years and institutions need to take notice to avoid penalties. Would you like others articles like this in your inbox? Takeaway 1 Civil monetary penalties and reputational risks are reasons why institutions need to employ seasoned sanctions officers.

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Banks stand to benefit as sustainability co-stars alongside digital

Accenture

Kudos to the gurus: ten years ago, the prediction was that digital would be driving every business today. It is. However, something else has happened, too. Digital now has a co-star. Sustainability. Top billing is no longer solo: it’s a dual affair. Green Economy and Digitalization are the two pillar concepts in Europe’s Recovery Plan. That’s no…. The post Banks stand to benefit as sustainability co-stars alongside digital appeared first on Accenture Banking Blog.

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Are ATMs, digital signage a good fit?

ATM Marketplace

Are ATMs and digital signage a good fit? How can they work together to deliver an omnichannel experience?

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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 housing market is on fire, warns Bank of England chief economist

TheGuardian

Continued rise stoked by tax breaks and demand from well-off households likely to deepen inequality, says Andy Haldane Britain’s housing market is “on fire” thanks to the extension of government tax breaks for homebuyers and increased demand from richer households with more savings following coronavirus lockdowns, the Bank of England’s chief economist said on Tuesday.

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Greensill scandal: MPs hear claims about role of ex-civil service chief

TheGuardian

Allegations made about late Jeremy Heywood and how he helped wealthy financier avoid scrutiny Jeremy Heywood, Britain’s most influential senior civil servant for two decades before his death in 2018, has been placed firmly in the frame during hearings into the Greensill lobbying scandal, as the guiding hand who opened doors in Whitehall for the collapsed finance company’s chief executive.

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Improving Your Bank's Digital Experience

ATM Marketplace

The banks that will thrive in this new digital ecosystem are those that understand what customers are looking for, anticipate that need, and find the most innovative way to meet that need with specific products, services and capabilities.

Meeting 97
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Bringing Back the 1990s!

SWBC's LenderHub

Remember the good old days of the 1990s? Back in the day, you could drive your Saab 900 to Bed Bath and Beyond to get some towel racks on your way to the AMC movie theater to watch “Toy Story," all the while being connected to work by the snazzy BlackBerry clipped onto your belt. Maybe later, if the kids behaved themselves, you could swing by the GameStop store to buy them a game for their Sony PlayStation.

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The New Normal of Online Banking

Banking Exchange

It’s undisputed that the pandemic brought upon new obstacles to the way people bank and pay each other Payments Technology Lines of Business Tech Management Feature3 Feature.

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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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Banks invest in AI with an eye toward ethics

BankInovation

In seven tweets last month, the insurer Lemonade described how it’s using artificial intelligence (AI) to assess customer risk to improve underwriting, customer acquisition and fraud. As an example, the company said its AI could analyze video claims submissions for “non-verbal cues” that “traditional insurers” can’t detect since they don’t use a digital claims processes. […].

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UK banks to reveal exposure to climate crisis for first time

TheGuardian

Bank of England to examine risks rising temperatures and sea levels could pose for financial system UK banks will for the first time be forced to reveal their exposure to the climate crisis, highlighting the risks that rising temperatures and sea levels could pose for the financial system, as part of the Bank of England’s climate stress tests this year.

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What is Fastly and Why a Slew of Websites Went Offline

BankInovation

An outage at Fastly Inc., a cloud-based content platform that serves many leading international websites, sent swaths of the web offline on Tuesday. Fastly is one of a number of high-level website and application hosting services that large enterprises use to serve content to millions of users simultaneously.

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MCB to adopt MITECH's TRAC system

The Paypers

The Mauritius Commercial Bank (MCB) has announced adopting MITECH ’s system TRAC (Trade Risk Active Control) to help its Commodity Trade Finance (CTF) business.

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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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Amazon seeks expert in blockchain, distributed finance

American Banker

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Paysafe, IntelliPay expand partnership to offer online cash payments

The Paypers

US-based payments platform Paysafe has announced it expands US partnership with IntelliPay to offer online cash payments.

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AfDB 2021 annual meetings

Bankelele

The African Development Bank Group (AfDB) has announced its series of annual meetings for 2021. The theme of the annual meetings which will take place from June 23-25 is “building resilient economies in post-covid Africa” and will include the 56th annual meeting of the governors of the African Development Bank and the 47th one of […].

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Bank of England launches discussion paper on digital money

The Paypers

Bank of England has launched a discussion paper to set out the Bank’s emerging thoughts on new forms of digital money, which include both systemic stablecoins and a UK CBDC.

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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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Walmart partners with PayNearMe to support cash bill pay in stores

American Banker

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Afterbuy partners with DreamRobot

The Paypers

Germany-based ecommerce software company ViA-Online and its SaaS sales automation solution Afterbuy have announced partnering with cloud-based inventory management company DreamRobot.

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LendingClub builds on Radius Bank acquisition with exec moves

American Banker

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IFIN launches Islamic financing platform

The Paypers

Bahrain-based Islamic fintech provider IFIN (Islamic Finance Initiation Network), has launched a real economy, automated Islamic financing platform.

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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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Have banks dodged corporate tax bullet under Biden?

American Banker

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Yapily launches bulk payments service with Comma in the UK

The Paypers

Yapily , the Open Banking infrastructure provider, has announced the launch of its new Open Banking bulk payments service, with Comma , the SME payments platform, already live and benefiting from the service in the UK.

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7 Deadly Traps that Ruin CX (and Earnings) in Banking

The Financial Brand

Overcoming indifference to digital design and customer experience details is vital for financial institutions to avoid alienating consumers. The post 7 Deadly Traps that Ruin CX (and Earnings) in Banking appeared first on The Financial Brand - Banking Trends, Analysis & Insights.

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Notre Dame Global Partnerships, Deserve launch Notre Dame credit cards

The Paypers

Notre Dame Global Partnerships (NDGP) has announced its partnership with Deserve and the launch of the new Notre Dame PRO Mastercard for alumni and fans.

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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.