Thu.Sep 09, 2021

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Think big tech is only for big banks? Think again.

Accenture

Middle market bank leaders sometimes assume that the most transformative technologies are out of their reach. But the path to future competitiveness in banking runs through technology. No matter the size of the bank. Middle market banks are in an enviable position when it comes to getting the full value of emerging technologies. They have…. The post Think big tech is only for big banks?

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Fintech in a Flash: Are Real-Time Payments a Disruption or an Opportunity?

Jack Henry

Real-time payments are the most consequential development in the payments industry in decades. Innovative fintechs and big techs anticipated the demand for instant payments and focused on developing solutions that modernize and expedite consumer and commercial payments.

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Watch: Synthetic identity fraud presents growing threat, panel says

BankInovation

The real world poses as much of a threat as the online one, cybersecurity experts said in a Thursday webinar hosted by Bank Automated News. Synthetic identity fraud occurs when a criminal combines stolen identification, such as a Social Security number, with other identifying information to create a new, false identity. “One of the significant […].

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This week’s podcast: Congress overrides the OCC’s true lender rule: what are the risks for banks and their loan program nonbank partners?

CFPB Monitor

The OCC’s true lender rule was intended to create a bright line test for when a national bank or federal savings association should be considered the “true lender” in the context of third party partnerships but Congress overturned the rule. After reviewing the relevant background, we examine the Congressional override’s implications for future federal true lender rulemaking and its impact on existing law, key federal and state court challenges and decisions, state legislative and administrative

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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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Libor judge rejects halting use of benchmark in win for banks

BankInovation

A U.S. judge signaled he won’t immediately terminate Libor, rejecting an effort by a group of borrowers who argued the benchmark is the product of a “price-fixing cartel.” The tentative ruling Thursday by U.S. District Judge James Donato in San Francisco is a win for some of the world’s biggest banks, including JPMorgan Chase & […].

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Varo Bank raises $510M in funding

BankInovation

Varo Bank, the first fintech to secure a national bank charter, today announced a $510 million oversubscribed funding round, a new raise that more than doubles the company’s previous funding, bringing total funding for the San Francisco, Calif.-based mobile bank to $992.4 million. The bank's total valuation now stands at $2.5 billion, Alex Woie, head […].

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ID Proofing and Authentication: Q&A with Andras Cser, Forrester

FICO

As I work with our clients – many of them large retail banks — it’s clear that identity proofing and authentication strategies are evolving. A steady stream of technology innovation has opened new doors, providing the tools needed to embed remarkable consumer experiences within the latest digital transformation initiatives. When it comes to maintaining the trust of banking consumers, identity proofing and authentication are at the top of the list.

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Libor judge rejects halting use of benchmark in win for banks

BankInovation

A U.S. judge signaled he won’t immediately terminate Libor, rejecting an effort by a group of borrowers who argued the benchmark is the product of a “price-fixing cartel.” The tentative ruling Thursday by U.S. District Judge James Donato in San Francisco is a win for some of the world’s biggest banks, including JPMorgan Chase & […].

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Judo Bank willing to work with fintechs and crypto businesses

The Paypers

Australia-based Judo Bank has stated it won’t refuse or decline certain types of businesses from using its banking services but would make decisions on a case-by-case basis.

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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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Watch: Synthetic identity fraud presents growing threat, panel says

BankInovation

The real world poses as much of a threat as the online one, cybersecurity experts said in a Thursday webinar hosted by Bank Automated News. Synthetic identity fraud occurs when a criminal combines stolen identification, such as a Social Security number, with other identifying information to create a new, false identity. “One of the significant […].

Fraud 52
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HR Software For Small Businesses Company Factorial Raises At A $530M Valuation

CB Insights

Factorial , an HR management software developer, has raised $80M in a Series B. The round drew participation from Creandum, Point Nine Capital, CRV, and Tiger Global Management, among others. HOW’S THE COMPANY PERFORMING? Barcelona-based Factorial provides SMEs with software for workforce management. The software enables the automation of HR processes, like time and talent management, and it also features legal and financial support.

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Sopra Financing Platform available as a SaaS Rest API

The Paypers

Sopra Banking Software has announced that Sopra Financing Platform (SFP) pricing engine, Freehand is now available as a Software-as-a-Service REST API.

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Banks escalate fight over IRS reporting in Biden budget plan

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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Experian, 3 Indonesia to boost financial inclusion in indonesia

The Paypers

Global information services company Experian has partnered with Indonesia-based telecommunications provider, Hutchison 3 Indonesia (3 Indonesia).

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OCC Acting Comptroller Hsu: Improving CRA Is Urgent

ABA Community Banking

Acting Comptroller of the Currency Michael Hsu said he “feels the urgency” to modernize the Community Reinvestment Act regulations as soon as possible. The post OCC Acting Comptroller Hsu: Improving CRA Is Urgent appeared first on ABA Banking Journal.

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BNPL operator Addi raises USD 140 million

The Paypers

Fintech startup Addi , based in Colombia and Brazil, has raised an equity funding for USD 75 million as an extension of its Series B, bringing the company’s 90-day funding total to USD 140 million.

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Wells Fargo fined $250 million for mortgage violations

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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Adobe integrates Digidentity's eSignature

The Paypers

Digidentity has signed a resale agreement with Adobe , enabling Adobe to resell Digidentity's Advanced and Qualified Electronic signatures as part of the Adobe Sign service offering.

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Participating in PPP increased banks' risk appetite, study finds

American Banker

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Scalapay raises USD 155 mln Series A at a USD 700 mln valuation

The Paypers

Italy-based Buy Now, Pay Later solution Scalapay has announced that it has raised USD 155 million in equity funding as part of their Series A investment round.

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Fintech Success Story: How ‘Current’ Is Rising To Be The #2 Neobank

The Financial Brand

Current isn't just another fintech. Equipped with all its own technology, the neobank's Gen Z strategy targets legacy institutions. The post Fintech Success Story: How ‘Current’ Is Rising To Be The #2 Neobank 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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Varo Bank's $510 million capital raise: Springboard or lifeline?

American Banker

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Are Cryptocurrencies Coming to Everybody’s Checking Accounts?

The Financial Brand

With interest in holding crypto rising fast among Americans, there's an opportunity to establish an early presence. The post Are Cryptocurrencies Coming to Everybody’s Checking Accounts? appeared first on The Financial Brand - Banking Trends, Analysis & Insights.

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Mobile payments lay foundation for digital vaccine passports

American Banker

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Australian banks unwilling to do business with crypto providers

The Paypers

National Australia Bank and Westpac have rejected criticism that they are stymieing competition by refusing to do business with cryptocurrency providers.

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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.