Tue.Apr 20, 2021

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We're Getting a Bit Ahead of Ourselves

SWBC's LenderHub

Last Wednesday, cryptocurrency exchange creator Coinbase launched its highly anticipated direct stock offering (as opposed to a traditional initial public offering) to great success and excitement. As cryptocurrencies like Bitcoin and Ethereum become increasingly accepted by major institutional investors and custodians (like the Bank of New York), the public offering of the main gateway for fiat currency (USD, EUR, JPY, as examples) was a big deal and a smashing success.

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Business interrupted: How the pandemic is still affecting the payments industry

ATM Marketplace

The pandemic has forced the payments industry to find new ways to do business, and a year later we are still dealing with changes, according to Josh Cyphers, president of Nvoicepay.

Industry 136
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'Open Banking' is What 'Banking' Has Rapidly Become

Payments Source

Fintech Digital payments Payment processing APIs

Fintech 188
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Finding the right technology partner for your innovation roadmap

Bobsguide

Consumers today are in the driving seat. Bolstered by the incoming waves of digital natives and growing digital confidence among boomers and Gen X consumers, the banking and commerce landscapes are changing fast – and all organisations need to evolve to remain relevant. Traditional.

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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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What matters to firms? New insights from survey text comments

BankUnderground

Ivan Yotzov, Nick Bloom, Philip Bunn, Paul Mizen, Pawel Smietanka and Greg Thwaites. Text data is often raw and unstructured, and yet it is the key means of human communication. Textual analysis techniques are increasingly being used in economic and financial research in a variety of different ways. In this post we apply these techniques to a new setting: the text comments left by respondents to the Decision Maker Panel (DMP) Survey, a UK-wide monthly business survey.

Survey 107

More Trending

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IBM grows cloud revenues, adds PNC Bank and Banorte as hybrid cloud clients

BankInovation

Increased adoption of cloud computing helped IBM kick off the year with a strong quarter, the enterprise technology and software provider said in its first quarter earnings report released Monday. IBM’s quarterly filings also revealed the company has taken on PNC Bank and Mexican banking and financial services firm Banorte, as clients for its hybrid […].

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‘Contactless’ – A New Digital Payment Method

BankBazaar

How we pay for things and services that we need has evolved over the years. From following the barter exchange system, which was quite sophisticated back in its time, we’ve progressed to relying on cashless transactions today. The contactless payment method, with all its benefits, seems like the most likely successor. So, how do we describe contactless payment?

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The path to personalization in automation

BankInovation

During the early days of the COVID-19 pandemic, Bank of America’s virtual assistant, Erica, was hammered with requests related to COVID thousands of times per day, but Erica hadn’t been programmed to answer those questions, or even understand their context. Within one weekend, the $2.2 trillion bank was able to use machine learning to adjust […].

America 92
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Real-time payments tech puts pressure on banks

Bobsguide

Processing payments in real-time is becoming increasingly commonplace and in turn is “dramatically” increasing the pressure on banks’ internal systems, according to Andre Casterman, chief marketing officer at Intix. The expectation that sending and receiving payments happens.

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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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FTC Commissioners to appear at April 20 Senate Commerce Committee hearing

CFPB Monitor

Today, April 20, the Senate Committee on Commerce, Science, and Transportation will hold a hearing, “ Strengthening the Federal Trade Commission’s Authority to Protect Consumers.” The four currently-serving FTC Commissioners are scheduled to appear as witnesses. The hearing will address the FTC’s endangered consumer redress authority, its anti-fraud efforts during the pandemic, and its current tools and capabilities, including $30.4 million in funding for consumer protection matters provided in

Fraud 78
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Leading finance firms sign up to Mark Carney forum on low-carbon investment

TheGuardian

Barclays, HSBC and Axa among 160 firms in global alliance to hasten transition to net zero economies Banks and financial institutions with more than $70tn assets have pledged to cut their greenhouse gas emissions and ensure their investment portfolios align with the science on the climate. In the initiative, chaired by Mark Carney , the former governor of the Bank of England, 160 companies, including 43 banks from 23 countries, will set targets to cut the carbon content of their assets by 2030,

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Public policy can't slow distributed finance

Payments Source

Policies 164
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Low-code platform maker FintechOS raises $60M in Series B funding

BankInovation

Low-code platform startup FintechOS has raised $60M in a Series B funding round, the firm announced Tuesday. The light-on-coding software development approach used by Fintech OS, and others like Unqork, can accelerate the speed of deploying software-based tools by incorporating drag-and-drop functionalities for developers. This cuts down the cost of digital shifts for legacy institutions, […].

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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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Apple Card now lets multiple family members to share a credit line

Payments Source

Apple 135
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Assessing your pain points: How small changes can add up to big results

BankInovation

Digital transformation has been a hot topic for years, but has been accelerated exponentially due to the recent crisis. While financial institutions have traditionally put their customers’ needs first to remain competitive and serve their respective communities, rapid shifts in consumer needs and expectations offer an opportunity to build better systems and processes.

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Lucas Stangl Promoted To Treasury Management Support Officer Lead

MerhantsBanks

Winona, Minn. – Lucas Stangl has been promoted to Treasury Management Support Officer Lead at Merchants Bank, according to Kerri Bronk, Vice President/Senior Operations/eChannel Officer. “Lucas is a strong leader for our Treasury Management support team. He consistently provides excellent customer service to our business clients and demonstrates a strong work ethic.

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AccessPay, Yapily to re-define corporate cash management

The Paypers

Fintech AccessPay has partnered with Open Banking infrastructure provider Yapily to launch a new Treasury solution for corporates, using Open Banking, according to the official press release.

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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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Comdata adds instant earned wage access option for payroll card

Payments Source

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UAE launches blockchain-based platform Trade Connect

The Paypers

The United Arab Emirates has launched UAE Trade Connect, a blockchain-based platform, designed to prevent economic crimes such as under-invoicing, money laundering, and fraud in trade finance.

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Venmo primes a younger crowd for crypto payments

Payments Source

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Small banks look to fintech academy for talent, fresh ideas

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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Banking revealed as the third most phished industry in Q4 2020, report suggests

The Paypers

IT software company CheckPoint Research has released the Brand Phishing Report for Q1 2021 highlighting the most frequently criminally counterfeited brands.

Report 45
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Fifth Third’s expansion in Southeast paying early dividends

American Banker

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Saudi banks buy into country's plans for change

The Banker

With a new open banking initiative planned for the first half of 2022, Saudi institutions are beginning to ramp up their digital offerings in the retail and SME banking arena.

Retail 36
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TeraBlock receives USD 2.4 million funding

The Paypers

Crypto investment exchange TeraBlock has announced receiving USD 2.4 million in investments to make its binance-based tools for crypto investments access widely available.

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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.