Tue.Sep 12, 2023

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Come on, Barbie, Let’s Go Save The Economy!

William Mills

In the ever-evolving landscape of strategic communications, one powerful trend has emerged for businesses seeking to connect with their target audience: women-centered marketing. The interplay of targeted communications and authentic engagement has proven to be a transformative force, not only in propelling brands to the forefront but also in bolstering local economies.

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Stax CEO zeroes in on embedded payments

Payments Dive

Stax is honing its strategy to build on embedded payments as the company pushes its payment facilitation offering, CEO Paulette Rowe said.

Payments 243
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AI won't replace employees, it will make CX better

ATM Marketplace

A panel at the Interactive Customer Experience Summit in Charlotte from Sept. 11 to 13 tackled AI head on and how its real benefit is to improve the customer experience, not replace humans.

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Rationale for Federal District Court issuing an injunction in addition to vacating changes to UDAAP Exam Manual

CFPB Monitor

Yesterday, we blogged about the opinion issued on September 8 by the Federal District Court for the Eastern District of Texas in the lawsuit brought last year by several trade associations against the CFPB. In that lawsuit, the trade associations challenged changes made by the CFPB to its UDAAP Exam Manual in March, 2022 to encompass discrimination claims within the “unfairness” prong even when such claims go well beyond the scope of the Equal Credit Opportunity Act.

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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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At many banks, pandemic-era bond purchases are still tugging at profits

American Banker

Concerns about large unrealized losses on bond investments have receded since the spring banking crisis, but the paper losses have started growing again in recent months. The worries today are less about banks' survival — and more about how much their margins will get squeezed.

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Mastercard and Paysend enhance cross-border payments for SMEs

The Paypers

Mastercard has partnered with UK-based fintech Paysend to augment cross-border payments for SMEs looking to pay vendors across the globe quickly and securely.

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4 ways tech expected to enhance cross-border payments

BankInovation

The cross-border payments industry is expected to hit $250 trillion by 2027, up from $150 trillion a decade before in 2017, as adoption grows and technology, including real-time payments, AI and new payment rails, evolves.

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SEC's proposed conflict-of-interest rules include a massive oversight

American Banker

The proposed rule would make it virtually impossible for lenders to enter into routine hedging transactions.

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70% of Wells Fargo’s client interactions are digital

BankInovation

NEW YORK — Nearly 70% of Wells Fargo’s interactions with its customers are digital as it continues to invest and improve its digital banking channels, Jazz Samra, head of partnerships at the $1.9 trillion bank, said at Finovate Fall 2023.

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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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‘We’ve learned lessons’: the banker clearing up the £1.1bn fallout from the UK’s Covid loan scheme

TheGuardian

British Business Bank chief Louis Taylor says he values roles that are ‘beyond the pure profit motive’ Louis Taylor is making a habit of being parachuted in at troubled state lenders. For seven years before he took over as chief executive of the British Business Bank (BBB) last year, Taylor led UK Export Finance (UKEF), the state-owned credit agency that had been dragged into the high-profile Airbus bribery scandal.

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Why U.S. Bank created its own font, and how digital design is changing

American Banker

Recent Arizent research shows that having appealing digital spaces is one of the most important factors for customer experience at banks.

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Sprinque expands cross-border B2B payments platform in Germany and Spain

The Paypers

Netherlands-based payment service provider Sprinque has opened new offices in Germany and Spain, further tapping into the European B2B payment market.

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CFPB's Chopra defends his agency's mortgage rules in high court case

American Banker

The head of the Consumer Financial Protection Bureau defended the agency and its mortgage rules in particular on the 15th anniversary of the collapse of Lehman Brothers.

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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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PayPal supports Web3 payments with On and Off Ramps

The Paypers

US-based financial technology company PayPal has introduced On and Off-Ramps to support Web3 payments and improve access to digital currencies.

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Do gift cards need to be plastic? Hallmark, Blackhawk test paper options

American Banker

Blackhawk Network now offers Visa gift cards made of paper, while Venmo and Hallmark are putting QR codes in standard greeting cards. Both initiatives address the environmental harms of first-use plastic.

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BIAN launches Coreless Banking 3.0

The Paypers

The independent standard association BIAN has launched its Coreless Banking 3.0 initiative, in order to resolve the challenges banks face with interoperability.

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Barclays CEO detects early signs of rebound in investment banking

American Banker

Mergers and acquisitions are rebounding and equity capital markets are thawing, says C.S. Venkatakrishnan. That's a welcome forecast after a persistent slump sapped investment banking revenue across the 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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Deduce raises USD 9 million to prevent AI-generated identity fraud

The Paypers

US-based fraud prevention company Deduce has announced the raise of USD 9 million funding round in order to prevent AI-generated identity fraud.

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Franklin Templeton joins race to offer U.S. spot bitcoin ETF

American Banker

Franklin Templeton has joined fellow asset manager powerhouses Fidelity and BlackRock in the race to win approval to offer the first U.S. exchange-traded fund that invests directly in bitcoin.

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Visa partners with Cashflows

The Paypers

Cashflows has extended its partnership with Visa to amplify authorisation rates and provide customers with instant payouts and international payment offerings.

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Citi's family office clients are hunting for direct investments

American Banker

More than half of investment firms for the world's superrich seek opportunistic direct deals based on attractive valuations, Citigroup found in a survey of 268 family offices representing $565 billion in net worth.

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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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TikTok Shop officially launches in the US

The Paypers

Short-form video hosting service TikTok has officially launched its ecommerce product TikTok Shop in the US, aiming to provide customers with new features.

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American Express plans luxury lounge for Newark Airport's newest terminal

American Banker

Amex is planning to debut a new luxury lounge at Newark Liberty International Airport, part of the credit-card giant's continued push into travel and entertainment services.

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Monzo launches investment feature

The Paypers

UK-based digital bank Monzo has launched an investment feature that allows customers to invest in funds managed by BlackRock.

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Wall Street bosses want anonymity to talk China with Congress

American Banker

U.S. lawmakers scrutinizing China said Wall Street executives asked to have their identities withheld when meeting with them so as not to alienate their Chinese investors.

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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.