Wed.Apr 28, 2021

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Congratulations, you bought a bank. Now what?

Accenture

The headlines are crowded with stories about bank mergers and acquisitions among middle market banks. This doesn’t surprise me. While M&A slowed down during the height of the pandemic, it’s ramping up fast now as a mechanism to spur growth and recovery. Buying is one thing, integrating is another What I find fascinating about M&A…. The post Congratulations, you bought a bank.

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CFPB Delays Mandatory Compliance Date of New General Qualified Mortgage Rule

CFPB Monitor

The CFPB recently issued a final rule delaying the mandatory compliance date for the new general qualified mortgage (QM) rule based on an annual percentage rate (APR) limit from July 1, 2021 to October 1, 2022. The final rule is effective on June 30, 2021. The CFPB also issued an executive summary of the final rule. In December 2020, the CFPB issued the new general QM rule to replace the original general QM rule based on a strict 43% debt-to-income (DTI) ratio.

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How banks can resist commoditization in a digital world

Accenture

In this series we’ve looked at a range of important subjects for banks looking to grow and gain competitive advantage in 2021. All are connected to Accenture’s latest Global Banking Consumer Study. But in every post we have encountered, in one way or another, the same challenges and questions. If a post-pandemic world is also…. The post How banks can resist commoditization in a digital world appeared first on Accenture Banking Blog.

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How digital integrity and transformation empower retail banks against emerging competitors

Bobsguide

Retail banks have found themselves at the centre of the digital disruption shaking financial services. As well as direct competition from challenger and neobanks entering the sector, they also have to contend with the likes of Facebook, Amazon and Google and their peers looking to expand their.

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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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Alphabet and Microsoft report strong quarters backed by growth in cloud offerings

BankInovation

As financial institutions eye significant digital shifts, cloud providers continued to rake in the gains in the first quarter of the year. In their quarterly financial reports released Wednesday, Alphabet and Microsoft both reported a significant uptick in revenues and signaled that persistent demand for digital services delivered through the cloud has bolstered their financial […].

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More Trending

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Crypto Bank Gets OCC Approval, ABA Objects

Banking Exchange

The OCC has conditionally approved Paxos National Trust for a banking charter Compliance Duties Compliance Management Compliance/Regulatory Community Banking Feature3 Feature.

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Accenture: Bank adoption of automation slower than other industries

BankInovation

A global survey of 1,100 bank executives shows a slim majority of banks are automating processes, and at rates lower than in other industries. Moreover, this automation is broad rather than deep — an approach that could lead to rework down the road. Fifty-eight percent of banks currently use automation on a wide scale, a […].

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Safaricom’s Ethiopia License Bid

Bankelele

This week marked the deadline for bids for two new Ethiopia telecommunication licenses on April 26. Two offers were received in Addis Ababa; one by MTN (Mauritius) and the other for a “Global Partnership for Ethiopia”, a consortium by Vodafone, Vodacom, Sumitomo and Safaricom. This is part of an overdue privatization push by Ethiopia that […].

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Silicon Valley Bank Holds Firm on Boston Bid

Banking Exchange

SVB Financial won’t pay more for Boston Private despite opposition from one vocal investor Management Feature M&A Feature3.

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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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Facebook's vision for VR hinges on easier payments

Payments Source

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New York Community Bancorp to Acquire Flagstar for $2.6B

Banking Exchange

NYCB is to acquire Flagstar in an all-stock merger scheduled to complete later this year Management Feature M&A Feature3.

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Nacha's emerging rules require an accelerated compliance strategy

Payments Source

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Accenture: Bank adoption of automation slower than other industries

BankInovation

A global survey of 1,100 bank executives shows a slim majority of banks are automating processes, and at rates lower than in other industries. Moreover, this automation is broad rather than deep — an approach that could lead to rework down the road. Fifty-eight percent of banks currently use automation on a wide scale, a […].

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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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Risks from ‘bad bots’ rising for banks

The Banker

Financial services received 18.9% of bad-bot traffic last year, with attempts at account takeovers, content scraping and credit card fraud particularly prevalent, according to a report by software group Imperva.

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When Can You Switch Homeowners Insurance Policies?

MyBankTracker

If you own a home, chances are you have homeowners insurance—especially if you’re financing the property. Homeowners insurance is a policy that protects your home against certain types of damages and losses. Many people select a home insurance company when getting their mortgage loan, and then have their premiums paid directly from an escrow account.

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COVID Vaccine Fraud: Be Wary of the Scammers

FICO

Around the world, COVID vaccination campaigns are ramping up, as leaders pledge to protect their citizens from the deadliest pandemic in a century. But despite Herculean logistics efforts worldwide , in some countries (and localities within the US), the vaccine is still hard to come by. People everywhere are anxious to get the COVID jab, and fearful of contracting the disease—two vulnerabilities that are among fraudsters’ favorites to exploit.

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How to Get the Cheapest Car Insurance for College Students

MyBankTracker

Just like any other auto insurance premium, age, gender, location, vehicle type, and credit will be the major factors that go into determining your rate. But college students may face slightly different factors. This is an important consideration for both college students and their parents. Car insurance is notoriously expensive for college students because they’re also young drivers.

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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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How TikTok’s GenZ financial influencers are changing finance

Lex Sokolin

This is Jim Cramer, in the early days. This is his performance relative to the S&P 500. It is not higher than the index. Lots of people have villainized Mad Money, the show on which Jim talks about stocks and markets, and makes investment recommendations. It is easy to pick on the style, substance, and investment returns of the show. But in the end Jim is right, and you are wrong, because he is not providing investment advice.

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Driving Business Success through the Pandemic

PopularBank

Popular Bank announces partnership with Latin Business Today to share important insights to help small businesses and entrepreneurs. Popular Bank and Latin Business Today have formally announced the launch of Driving Business Success through the Pandemic. The nine-part series will discuss topics and challenges facing Latinx small businesses amid the COVID-19 health crisis.

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Intelligent automation can shed latency from business pay

Payments Source

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Technology Solutions for Increased Service Profits

ATM Marketplace

Hytec provides superior aftermarket support for Original Equipment Manufacturers and Field Service Providers through various service solutions.

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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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Miracles may not be in the pipeline at GSK but it’s too soon to panic | Nils Pratley

TheGuardian

The CEO’s best policy is to ignore the noise. The decluttering demerger plan looks solid and is backed by shareholders It was not a knockout quarter to put Elliott Management, the big, aggressive and newly arrived US activist hedge fund, back in its box. GlaxoSmithKline’s revenues fell 18% as patients, sensibly, delayed their GSK shingles vaccinations so they could be jabbed with other people’s anti-Covid juice.

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Petal offers alt-data underwriting tech to banks. Do they want it?

Payments Source

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Andreessen Horowitz-Backed Current Raises $220M To Expand Digital Banking

CB Insights

Current , a digital banking services platform has raised $220M in a Series D, led by Andreessen Horowitz. HOW’S THE COMPANY PERFORMING? New York-based Current offers mobile banking solutions such as direct deposits, spend notifications, and banking insights, among others. The company started off as a provider for teen banking. One of the company’s earlier design iterations involved cryptocurrency wallet addresses and Ripple gateways, but the team shifted to mobile banking as the tech

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No bubble in housing market, Fed’s Powell says

American Banker

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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.