Fri.Sep 01, 2023

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Two credit unions are on a bank shopping spree

American Banker

Five Star Credit Union and Michigan State University Federal Credit Union announced a combined four bank acquisitions within a few days. They're among 10 credit union agreements to buy banks this year.

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Durbin, Marshall lambaste card fee increases

Payments Dive

Sens. Dick Durbin and Roger Marshall railed against expected credit card fee increases following a report that hikes are planned for October and April.

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CU Build 2023: Not Just Coding, But Connecting

Jack Henry

Learn about the event, be inspired by the credit union community, learn more about the solutions developed, and consider participating next year.

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Andreessen Horowitz circles healthcare payments

Payments Dive

A health tech partner at the venture capital firm outlined her fintech investment thesis and why the healthcare industry is at an inflection point.

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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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Third of UK mortgage holders ‘do not think they will pay it off by 65’

TheGuardian

Survey released as HSBC becomes latest lender to increase maximum home loan term to 40 years A third of those with a mortgage do not think they will pay it off by the time they are 65, according to data this week. It coincided with HSBC becoming the latest big lender to increase its maximum mortgage term to 40 years. The chaos in the home loans market has resulted in millions of people in the UK being hit with or facing dramatically higher costs – prompting many to look at stretching their mortg

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Fired Morgan Stanley executive alleges reverse discrimination

American Banker

Kevin Meyersburg, who is white, says in a lawsuit that the Wall Street investment bank terminated his employment and replaced him with a Black woman who is less qualified for the position. Morgan Stanley declined to comment.

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Average out-of-network ATM fees up by a penny: Bankrate

Payments Dive

Banks are charging more for out-of-network withdrawals as ATMs slowly disappear and consumers rely less on cash and checks.

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4 ways banks, credit unions can improve the customer experience

American Banker

Smaller financial institutions are prioritizing engagement over other conveniences, a strategy that resonates with younger generations, according to data from Arizent.

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Inside look: Nebraska Bank’s network, core conversion

BankInovation

Nebraska Bank launched a network conversion, core conversion, Office 365 conversion and a bank-wide rebrand in March 2022 as it worked to keep up with branch expansion and asset growth. The rapidly growing Dodge, Neb.

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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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Sohar International and PayMate equip businesses with B2B payments solution

The Paypers

Oman-based bank Sohar International has partnered with India-based PayMate to digitise, automate, and streamline B2B payments using bank-issued corporate corporate credit cards.

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Fintech Funding: Spend management fintech Ramp raises $300M

BankInovation

Spend management fintech Ramp raised $300 million on Aug. 22 to fuel its product expansion aims. The series D funding round has given the New York-based company a valuation of $5.8 billion, according to a release from the company. Ramp’s valuation dropped from $8.

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ZeroPay launches Alipay+ in South Korea

The Paypers

Korea Easy Payment Foundation, the operator of ZeroPay , has introduced Alipay+ global cross-border digital payments and marketing solutions for South Korean merchants.

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See Around Corners: Jack Henry’s Strategic Priorities Benchmark Study Unveils Key Insights

BankInovation

As community and regional banks navigate 2023 and approach 2024, they’re setting their sights on critical priorities to chart their strategic direction – with a keen focus on: • Growing deposits • Growing loans • Retaining talent Jack Henry’s 2023 Strategic Priorities Benchmark Study found that 79% of financial institution CEOs surveyed plan to increase […]

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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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TrueNorth, RADD LLC support regulatory compliance for FIs

The Paypers

Global fintech services company TrueNorth has announced a partnership with RADD LLC , a compliance consulting and internal audit firm.

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Best Credit Unions to Work For with more than $1B of assets

American Banker

Here are some highlights about the largest credit unions that made the 2023 ranking of the Best Credit Unions to Work For.

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Mastercard launches ALT ID for guest checkout transactions

The Paypers

Mastercard has launched the ALT ID solution in India to enhance the security of guest checkout transactions on ecommerce platforms, simplifying payments for merchants and cardholders.

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Bankers suffer from 'disaster myopia'; regulators shouldn't ignore it

American Banker

Banking crises always recur. But time and again, bankers have been shown to operate on the assumption that good times are permanent.

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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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BingX expands copy trading to the spot market

The Paypers

BingX has announced the integration of copy trading into the spot market as part of its effort to enhance user engagement and strengthen its trading strategy ecosystem.

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Splitit's CEO on why the BNPL firm wants to go private

American Banker

In a tough time for buy now/pay later lending, the fintech hopes to pivot its strategy while removing the pressures that come from public shareholders.

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BlinkPay to offer Open Banking services to New Zealand clients

The Paypers

BlinkPay has announced its plan to provide customers from New Zealand with Open Banking services through a partnership with local banks and FIs.

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Supporting the CDBC dialogue

Tomorrow's Transactions

The way that central bank digital currencies will work is a matter of great importance and there needs be informed discussion and debate about the requirements, goals and constraints of practical population-scale fiat electronic cash. But the fact is that CBDC is a complicated, emotive and (frankly) poorly-understood subject that needs collaboration across public and… Continue reading Supporting the CDBC dialogue The post Supporting the CDBC dialogue first appeared on Consult Hyperion.

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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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Alkami and Atomic offer a direct deposit switch solution for financial institutions

The Paypers

Alkami has partnered with Atomic to offer a direct deposit switch solution to US-based financial institutions, enabling account holders with seamless payroll account connections.

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Regulators extend Hurricane Idalia support to affected institutions

American Banker

Federal and state financial regulatory agencies issued a joint statement Friday offering support and guidance to financial institutions affected by Hurricane Idalia. The agencies encouraged banks to assist impacted communities and provided banks with regulatory relief measures.

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Conferma Pay partners with Inlogik

The Paypers

Virtual payments provider Conferma Pay has partnered with Inlogik to launch a new solution for business travellers using virtual card technology.

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Best Credit Unions to Work For with $200M to $500M of assets

American Banker

Read on for additional details on the 19 credit unions that made this year's Best Credit Unions to Work For ranking in this asset category.

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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.