Thu.Mar 14, 2024

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Banking apps fall short on fraud protections: report

Payments Dive

Consumer Reports Senior Director Delicia Hand said preventing fraud and scams is "crucial" for traditional and digital banks alike, as more of their customers use their mobile apps.

Fraud 459
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Solve This Problem with Your Strategic Horizon

South State Correspondent

When it comes to bank planning, your strategic horizon has a huge influence on your success. Recently, we published a piece urging banks to set their strategic planning horizon out longer ( HERE ). We were inundated with questions and opinions. Our overarching point was that banks underperform, in part, because their strategic planning time horizon is too short.

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Visa teams with SAP’s Taulia on embedded payments

Payments Dive

The card network giant wants to simplify payment processes for chief financial officers, accounts payable staff and procurement professionals, via the new tie.

Payments 243
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Customer retention in banking: A proactive guide

Abrigo

Strengthening customer relationships with tangible value and personal touch Customer retention in banking can be challenging for community financial institutions. Follow this guide for strategies to stay competitive. You might also like this SMB Lending Insights report for banks and credit unions Download report Takeaway 1 Banks need to implement customer retention strategies to keep their valuable customers, not just attract new ones.

Lending 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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ACI CEO weighs in on FedNow, cross-border payments

Payments Dive

The federal real-time payments system may spool up slowly, but it could ultimately transform U.S. cross-border payments, ACI Worldwide's CEO predicted.

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More Trending

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This week’s podcast episode: U.S. Supreme Court hears two cases in which plaintiffs seek to overturn Chevron judicial deference framework: Who will win and what does it mean? Part II

CFPB Monitor

On January 17, 2024, the U.S. Supreme Court heard oral argument in two cases in which the question presented is whether the Court should overrule its 1984 decision in Chevron, U.S.A., Inc. v. Nat. Res. Def. Council, Inc. That decision produced what became known as the “ Chevron judicial deference framework”–the two-step analysis that courts typically invoke when reviewing a federal agency’s interpretation of a statute. .

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10 Essential Personal Finance Moves Before the Financial Year Ends

BankBazaar

The end of the financial year is the perfect time to review your financial situation and make strategic moves to optimise your money matters. Here are essential finance moves to consider. As a young professional in India, managing your personal finances effectively is crucial for securing your financial future. With the end of the financial year fast approaching, now is the perfect time to review your financial situation and make strategic moves to optimise your money matters.

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Fintech Meetup Stays True to Its Mission: Making Connections

William Mills

We all cherish those networkers with a superpower for connecting people. Now there’s a conference that’s honed in on meeting the need: Fintech Meetup. Here’s our take on the show.

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'They're fixing a broken bank': NYCB starts to outline a way forward

American Banker

The troubled Long Island-based lender laid out steps that it's taking to improve its loan review process. The remediation efforts follow a massive loan provision last quarter, which led to a management shakeup and a $1 billion rescue led by former Treasury Secretary Steven Mnuchin.

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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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CFPB: Open banking update

BankInovation

Consumer Financial Protection Bureau Director Rohit Chopra released an update today on the bureau’s Personal Financial Data Rights rule-sharing based on his remarks given March 13 at the Financial Data Exchange Global Summit in Washington, D.C. Chopra discussed at the FDX event how the bureau is identifying standard-setting organizations.

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JPMorgan Chase fined $348 million for gaps in trading venue oversight

American Banker

The Federal Reserve and the Office of the Comptroller of the Currency both cited the nation's largest bank for having "inadequate" policies around firm and client trading activities.

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Inside ING’s hybrid, multi-cloud strategy

BankInovation

ING Bank is moving its operations to the cloud for scalability, efficiency and security. The $967 billion bank’s operations are 65% on a private cloud, Marco Eijsackers, head of the CIO office at ING, told Bank Automation News. “We started our migration in 2014-15 in partnership with Microsoft by building private clouds,” Eijsackers said.

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TransUnion launches new data analytics platform powered by AI

American Banker

The credit bureau's data analytics portal, OneTru, hosts all previously offered products on a hybrid cloud-based platform and uses guides powered by artificial intelligence to streamline query processes.

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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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Navy Federal developing omnichannel platform

BankInovation

Navy Federal Credit Union is developing an omnichannel lending platform as credit unions and captives prioritize technology upgrades in the face of increased competition and changing consumer preferences.

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Calculum partners with Corpay

The Paypers

Financial AI and data analytics services provider Calculum has announced its partnership with Corpay , aiming to provide its customers with access to Corpay Payments Automation.

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Podcast: Grasshopper CEO Butler talks growth

BankInovation

Grasshopper Bank is investing in its digital offerings to meet its clients where they want to be met — whether through self-service channels or other avenues.

Meeting 68
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Credit unions' top regulator sounds the alarm. Is Congress listening?

American Banker

The Navy Federal scandal is just the tip of the iceberg. After looking away for 20 years, Congress needs to focus on providing real oversight of the credit union industry.

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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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Klarna to launch Open Banking settlements in the UK

The Paypers

AI-enabled payments network and shopping assistant Klarna has announced the launch of an Open Banking-powered settlement in the UK.

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The Role of Digital Document Collection in Fraud Prevention

BankInovation

Navigating the landscape of finance and technology requires innovation and a strategic vision addressing industry challenges. A big concern is the staggering amount of non-mortgage consumer debt—over $100 billion—charged off last year. In the face of rising fraud, digital document collection and consumer transparency is a game-changing approach for lenders.

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PPRO raises EUR 85 million in funding round

The Paypers

PPRO has completed a EUR 85 million funding round, aimed at accelerating its development in key markets and optimise its global network of local payment methods.

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Discover: Contactless payments make mass transit more inclusive

American Banker

The pandemic reduced the number of daily mass-transit commuters, but the accompanying surge of contactless payments is expanding and diversifying transit systems' demographic reach, according to data from the card network.

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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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Temenos partners with InCountry

The Paypers

Switzerland-based Temenos has announced its partnership with InCountry in order to provide secure data residency for the Temenos Banking Cloud.

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Morgan Stanley wins $1.5 million bonus spat with French banker who quit

American Banker

The Paris court of appeals ruled against Bernard Mourad, saying the bank's cash and shares incentive programs "sought to ensure his loyalty in the long term." The judges said they were distinct from his performance compensation — covered by his salary and discretionary bonus.

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Teachers' Venture Gowth invest USD 80 mln in Perfios

The Paypers

Canada-based Teachers’ Venture Growth has invested USD 80 million in Perfios , an Indian fintech that provides real-time credit underwriting solutions to financial institutions.

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Mortgage rates slip but forecasts don't look promising

American Banker

The average 30-year fixed mortgage rate for conforming loans fell, according to Freddie Mac, even as the 10-year Treasury yield rose nearly 18 basis points from the start of this week.

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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.