Tue.Aug 01, 2023

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Upgrade the Front Line to Attract and Retain Deposits

Jack Henry

When was the last time you were in a bank or credit union branch? When I was given power of attorney for my mom’s bank accounts, I needed to go to a branch and work with someone to put her money to work. Seniors are in a unique stage of life where they must convert their savings into a sufficient revenue stream to assist with the cost of senior living facilities.

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Shopify taps Ramp to save on corporate expenses

Payments Dive

E-commerce company Shopify is adopting more artificial intelligence by automating its corporate expenses through Ramp.

Company 369
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If consumers are “clueless” about arbitration, it’s not industry’s fault

CFPB Monitor

Last week, Professor Jeff Sovern of St. John’s University School of Law published a blog post discussing a new empirical study by Roseanna Sommers, Assistant Professor of Law at the University of Michigan Law School, dealing with consumer understanding of predispute arbitration agreements. According to Professor Sovern, the Sommers study augments his earlier (2014) study of this subject and confirms that “consumers are generally unaware of whether their contracts contain arbitration clauses, an

Michigan 145
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ACI eyes FedNow for cross-border uses

Payments Dive

In the future, FedNow will be part of the race to develop cross-border instant payment systems and use cases, said ACI Worldwide CEO Tom Warsop.

System 195
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Elevating Accounting Practices: The Power of Outsourcing and Automation in the Digital Age

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.

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Bank Customer Experience Summit to examine future of branches

ATM Marketplace

Banks are dramatically changing their branch strategies, from shutdowns to redesigns. The Bank Customer Experience Summit will look at the cutting edge of branch transformation during a panel.

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Zelle users report second outage in a week

American Banker

More than 1,000 users reported problems making payments on Tuesday before complaint volumes tapered around midday, according to DownDetector, a site that collects user outage reports. The internal network disruption comes on the heels of another Zelle outage JPMorgan Chase took responsibility for seven days ago.

Report 69
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SECURE Act 2.0’s Hidden Gems

TrustBank

The SECURE Act 2.0 was passed into law last December. If you recall, the original SECURE Act (Setting Every Community Up for Retirement Enhancement) was passed in 2019, but it needed some changes and add-on’s. The general idea of the SECURE Acts was to get people saving more for their retirement since the days of pensions are fading in the rear-view mirror.

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NAFCU, CUNA credit union trade groups agree to merge

American Banker

The governing bodies of the National Association of Federally-Insured Credit Unions and the Credit Union National Association have unanimously approved a merger agreement. Members are expected to vote on the deal later this month.

Groups 69
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Brex rolls out AI-driven accounts payable solution

BankInovation

Brex is automating the accounts payable process with AI-driven expense controls across multiple payment types to help business clients manage their budgets.

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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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CD competition back to pre-2008 as banks fight for funding

American Banker

Banks locked in funding by offering more enticing rates on certificates of deposit last quarter, but rebuilding liquidity came at a cost. Competition isn't dying down either, with a couple of credit unions floating 6% CD rates.

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Global Startup Cities Podcast: Paris fintech offers embedded lending

BankInovation

Keeping up with expenses can be difficult for small- and medium-sized businesses, which may not always have cash on hand or ready access to capital.

Lending 52
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Recent U.S. payment deals in China are a trickle, not a flood

American Banker

Flywire, Visa and Mastercard all entered partnerships that anticipate a post-pandemic recovery. But politics are still keeping them from getting deeper into the market.

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Tide helps more SMEs simplify accounting with a product upgrade

The Paypers

Tide , a UK- based digital business financial platform, has launched its improved Tide Accounting tool to help more SMEs meet their accounting needs directly from their bank account.

Meeting 36
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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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The new FHFA credit score rules will make buying a home harder

American Banker

The decision to allow lenders to review only two credit reports for mortgage applicants will harm homebuyers with less than perfect credit.

Report 69
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Flutterwave launches Send App

The Paypers

Nigeria-based fintech Flutterwave has launched its new Send App in the United States and Canada, in order to enable clients to send funds into Africa faster and safer.

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20 community banks with the largest farm loan portfolios

American Banker

The top five community banks have more than $1.2 billion in combined farm loan portfolios as of March 31, 2023.

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Bluevine integrates accounts payable in its small business banking platform

The Paypers

US-based Bluevine has launched its new accounts payable (AP) offering to facilitate business payments management from within the Bluevine Business Checking account.

US 36
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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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One way or another, the Fed's capital proposal isn't going to fly

American Banker

The Federal Reserve's much-awaited Basel III proposal would raise capital significantly for the largest banks, a move that neither the international agreement nor the moment requires. Somehow that square is going to get circled.

Capital 36
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BigCommerce partners with Google Cloud

The Paypers

Open SaaS ecommerce platform for B2C and B2B brands BigCommerce has partnered with Google Cloud to add AI-powered features to its platform leveraging its AI tech.

Google 36
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Credit union, fintech collaborate on tools for small businesses

American Banker

Michigan State University Federal Credit Union and Nymbus teamed up to design a package of business banking tools with an eye toward credit unions, which historically have tread lightly into this space.

Tools 36
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iDenfy partners with Umazi

The Paypers

Fraud management service provider iDenfy has announced its partnership with UK-based Umazi in order to automate enterprise identity verification processes.

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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.

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Capital reform is coming, but not without a fight

American Banker

The Federal Reserve is leading the push for broader, more standardized risk-capital rules, yet some of its board members, other regulators and industry groups are uncomfortable with the proposal.

Capital 36
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Conotoxia launches Accept payments

The Paypers

Poland-based fintech Conotoxia has announced the launch of its new Accept payments solution, designed to make everyday settlements easier and more secure.

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Lawyers for Bob Lee's accused killer question motive in murder

American Banker

Lawyers representing the man accused of killing technology executive Bob Lee are attempting to poke holes in the prosecution's case, questioning the motive and the thoroughness of the police investigation in what's likely a long-term strategy to raise enough doubt to exonerate their client at trial.

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Skipify partners with Amex to improve checkout experiences

The Paypers

US-based fintech company Skipify has partnered with Amex to improve the checkout experiences of users as well as merchant approval rates.

Fintech 36
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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.