Mon.Jun 07, 2021

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How intelligent operations can help European banks prepare for the future

Accenture

In my conversations with banks over the last year, I’ve been asked three common questions: How can we achieve a better quality of service for our customers? How can we simplify our processes so that we can reduce costs and help customers find what they need quicker? How can we improve our productivity so that…. The post How intelligent operations can help European banks prepare for the future appeared first on Accenture Banking Blog.

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3 Risks Asset/Liability Management (ALM) Addresses

Abrigo

Risks ALM Addresses Will Affect Performance and Strategy Asset/liability management models and processes address credit risk, liquidity risk, and interest rate risk. . Would you like other articles on ALM in your inbox? Takeaway 1 The pandemic has shown that financial institutions deal with a variety of risks that can impact cash flow and capital. .

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Market Commentary: Week of June 7, 2021

SWBC's LenderHub

Last Week. While the major stock indices continued to grind higher and Treasury yields drifted in a very tight range, last week was still quite interesting. Retail investors, the new 800-pound gorilla, drove their new love interest, AMC, up 83% for the week. At one point on Tuesday, the stock was up over 140% from the prior week’s close. Other favorites such as Koss, Bed Bath and Beyond, and Blackberry were also driven to the moon.

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Join the Popular Virtual 5K Race

PopularBank

Popular Bank invites runners to participate in the Popular Virtual 5K race benefitting Domestic Violence Prevention Programs in New York, South Florida and Puerto Rico. Participants have until August 15th to complete the race for a chance to win select prizes. Running for a Cause. Popular Bank is proud to invite runners to participate in the 2021 Popular Virtual 5K race.

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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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Lessons learned: PPP spurs new automations and fintech partnerships

BankInovation

It was a wild ride, but the stream of federal Paycheck Protection Program (PPP) money has finally run out. However, the effects of the loan process are ongoing, opening doors for fintechs while also offering banks an opportunity to explore fintech partnerships and test-drive new automations. The PPP, enacted as part of the Coronavirus Aid, […].

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CA DFPI Commissioner Alavarez reported to be leaving agency

CFPB Monitor

American Banker has reported that Manny Alvarez, Commissioner of the California Department of Financial Protection and Innovation, will be leaving the agency on June 18, 2021. . According to the report, Governor Newsom is expected to appoint Chief Deputy Commissioner Chris Shultz, who currently oversees the DFPI’s business operations, as Acting Commissioner.

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Banking Tech: This Time It’s Personal

Banking Exchange

US Bank and Huntington have developed new personalized digital services for individual customers Retail Banking Feature Financial Trends Technology Tech Management People Customers Branch Technology/ATMs Mobile Online Cards Covid19 Feature3.

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Second Circuit orders dismissal for lack of standing of New York DFS lawsuit challenging OCC fintech charter

CFPB Monitor

The U.S. Court of Appeals for the Second Circuit has ruled that the lawsuit filed by the New York Department of Financial Services (DFS) seeking to block the OCC’s issuance of special purpose national bank (SPNB) charters to non-depository fintech companies should be dismissed for lack of Article III standing. In December 2017, the DFS’s first lawsuit challenging the OCC’s issuance of SPNB charters was also dismissed for lack of Article III jurisdiction.

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United to Create Top-40 Banking Giant with Essex Merger

Banking Exchange

Meanwhile, TGR Financial to merge with First Foundation and Liberty Bank to acquire Tri-State Bank Management Feature Feature3 Community Banking M&A.

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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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Professor Sovern’s Opt-In Arbitration Proposal: A Wolf In Sheep’s Clothing

CFPB Monitor

Professor Jeff Sovern responded to our blog criticizing his proposal for a new CFPB arbitration rule by asserting that his proposed rule is not substantially the same as the prior CFPB rule that Congress vetoed and, therefore, the Congressional Review Act would not bar its promulgation. According to Professor Sovern: “I don’t see how my rule giving consumers a choice to opt in to arbitration clauses, which could include class action waivers, could be substantially the same as the earlier

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Digital payment systems are replacing cash faster, study shows

The Paypers

UK-based consulting company PricewaterhouseCoopers (PwC) and its strategy consultancy Strategy& have released a payment study titled 'Charting a cause amid evolution and revolution'.

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HSBC rolls out openly accessible API portal for customers, developers

BankInovation

HSBC has launched an application programming interface (API) portal to provide developers and customers access to the $2.98 trillion bank’s software gateways. The portal will allow users to access treasury payment, account information, trade processing, custody holding and global disbursement APIs through the London-based bank. It also allows third-party providers to access payment and account […].

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Digital currencies pose threat to economy, warns Bank of England

TheGuardian

Research shows high street banks could face a flood of withdrawals leading to financial instability The rise of digital currencies could lead to a flood of withdrawals from high street banks, risking financial stability and the wider economy, the Bank of England has warned. Threadneedle Street said that stablecoins – a new form of digital asset usually pegged to the value of a traditional currency – would need to be regulated in the same way as payments handled by banks if they became widely ava

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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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Goldman Sachs CIO survey reveals Bitcoin as their least favourite investment

The Paypers

Chief Investment Officers of hedge funds from Goldman Sachs , the investment arm, see Bitcoin as their least favourite investment, according to info from two roundtable sessions held at the bank.

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Celonis speaks on $1B Series D round 

BankInovation

Last week’s announcement of a $1 billion Series D funding round by process mining leader Celonis puts the fintech in a league of its own, taking the company’s post-money valuation to more than $11 billion. “We are a high-growth company with a huge addressable market opportunity that we are going after,” Dave Peterson, chief marketing officer for the Munich and New York City-based Celonis, told Bank Automation News.

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Visa partners Goldman Sachs for global money transaction solution

The Paypers

Visa has partnered with Goldman Sachs Transaction Banking to help businesses move money around the world.

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Nick Benz Joins Merchants Bank as Treasury Management Sales Officer Lead

MerhantsBanks

Nick Benz has joined Merchants Bank as a Treasury Management Sales Officer Lead, according to Andrew Guzzo, Winona and Southeast Regional President. “Nick brings more than 15 years of treasury management expertise to our team, helping local businesses find efficiencies and implement beneficial cashflow strategies. I’m excited to see how he puts his knowledge to […].

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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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Liberty Bay Credit Union (MA) Offers 15-Month Bump-Up CD Special

BankDeals

Liberty Bank Credit Union (MA) is currently offering a competitive 15-month CD Special, with a one-time rate increase (up to 0.25%) option. $10k minimum opening deposit.

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ECB wants digital euro as competition for 'artificial currencies'

The Paypers

The European Central Bank ( ECB ) has announced that a central bank digital currency (CBDC) is needed in order to contest ‘artificial currencies’ in international payments.

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Digital Payments Solutions to Delight Your Indirect Borrowers

SWBC's LenderHub

Table of Content. Introduction.

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Apple to add digital ID storage to Wallet app

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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How Revolut’s ‘Super App’ Strategy Could Shake Up U.S. Banking

The Financial Brand

'Not your typical neobank' describes this hard-charging product machine. Here's why its low-key American debut may be misleading. The post How Revolut’s ‘Super App’ Strategy Could Shake Up U.S. Banking appeared first on The Financial Brand - Banking Trends, Analysis & Insights.

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Taking cue from fintechs, banks warm to early direct deposit

American Banker

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Visa Brings Fintech+Bank Match-Up Project to the U.S.

The Financial Brand

Payments giant plays middleman in encouraging partnerships – versus war – between fintechs and banking providers. (P.S. It also benefits.). The post Visa Brings Fintech+Bank Match-Up Project to the U.S. appeared first on The Financial Brand - Banking Trends, Analysis & Insights.

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Beyond waving a rainbow flag: How banks can support LGBTQ communities

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.