Wed.May 11, 2022

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World Bank forecast for cross-border payments rises

Payments Dive

The international bank expects remittances to climb 3.7% to $802 billion this year. That's more than was previously expected and the increase is partly due to the upheaval in Ukraine, the World Bank said.

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April CPI Hotter Than Expected

South State Correspondent

April CPI Hotter Than Expected. April CPI disappointed markets with a hotter-than-expected read and that has sent Treasury yields higher once again. The overall rate rose 0.3% for the month which was well off the 1.2% increase in March but a touch higher than the 0.2% expected. The year-over-year rate ticked down to 8.3% vs. 8.5% in March but missed the 8.1% expectation.

Report 195
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VizyPay carves out a niche catering to rural America

Payments Dive

Austin Mac Nab, the CEO and cofounder of Waukee, Iowa-based payments processing firm VizyPay, said the company aims to disrupt the payments landscape by catering to small town businesses.

Iowa 397
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ERI PARTNERS WITH UNBLU TO OFFER CONVERSATIONAL BANKING SOLUTIONS TO BANKS AND FINANCIAL INSTITUTION

Bobsguide

ERI PARTNERS WITH UNBLU TO OFFER CONVERSATIONAL BANKING SOLUTIONS TO BANKS AND FINANCIAL INSTITUTIONS. ERI, provider of the leading technology platform, the OLYMPIC Banking System, digitising front-to-back financial services processes, and Unblu, the leading conversational platform for financial services today announced a strategic partnership to integrate Unblu’s solutions with ERI’s OLYMPIC Banking System software package.

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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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Yellen urges stricter stablecoin regulation amid TerraUSD crash

Payments Dive

The coin, which relies on an algorithm rather than being backed by dollar reserves, plummeted to 23 cents Wednesday, according to CoinDesk.

More Trending

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Transactions: Envestnet acquires business intelligence firm Truelytics

BankInovation

Wealth management giant Envestnet has acquired business intelligence provider Truelytics, the company announced today. Truelytics offers a software as a service (SaaS) digital platform based on performance data and proprietary banking and investment formulas. The company maintains partnerships with companies including the $615 billion financial services firm TIAA, Fidelity Investments, Lincoln Investment and Cetera Financial […].

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ERI CROWNED BEST OPERATIONAL EFFICIENCY SOLUTION AT THE ASIAN PRIVATE BANKER – 7TH TECHNOLOGY AWARDS

Bobsguide

ERI is proud to announce that its digital front-to-back technology platform – the OLYMPIC Banking System – has been awarded Best Operational Efficiency Solution at the Asian Private Banker-7th Technology Awards. The Asian Private Banker Technology Awards celebrate the innovations and achievements of Asia’s rapidly growing financial technology sector.

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Fintech Current integrates platform of 4M members with Plaid

BankInovation

Current, a fintech offering financial services such as savings, early payday deposits and a debit card, on Tuesday opened its 4-million-member platform via an API, with the first integration being Plaid’s financial ecosystem. Current’s API platform was built to facilitate integrations for its customers with other fintechs, allowing for other embedded banking experiences, a Current […].

Fintech 98
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Is Financial Security The Same As Financial Stability?

BankBazaar

Financial security is what we’re all striving towards. But are we going about it in the best way possible? Read on to know if you are already practising some of these great pointers or if a revamp of your financial mantras is due! Different people have different notions about what financial security means. To some, it is having enough money to cover their bills and put aside a little something for retirement.

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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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Leveraging codeless architecture to improve successful merger integration

BankInovation

Today, M&A deals in the financial sector have rebounded from early-pandemic levels and are on track for another amplified year in 2022. A particular area of M&A growth from 2021 came from bank mergers, which grew in the US by 25% from the year prior – a significant increase compared to global figures. Mergers bring […].

US 98
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State of Blockchain Q1’22 Report

CB Insights

While most other sectors saw quarterly declines, venture funding to blockchain startups was red-hot in Q1’22 — hitting an all-time high for the seventh straight quarter. In our State of Blockchain Q1’22 Report, we dive into global funding trends to uncover takeaways like: How Web3 drove the $9.2B quarter . The number of deals per day, and which categories are drawing the most dollars.

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Upstart to expand automated lending to business banking

BankInovation

Loan automation platform Upstart on Monday announced the launch of its Small Dollar loan, as well as a new product for small- and medium-sized business (SMB) lending. Small Dollar loan is for personal, payroll-based loans of around $1,000 or less. That offering was launched at the end of first quarter, Dave Girouard, Upstart Chief Executive, […].

Lending 96
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Consumption effects of mortgage payment holidays during the Covid-19 pandemic

BankUnderground

Alexandra Varadi and and Bruno Albuquerque. Mortgage payment holidays (PH) were introduced in March 2020 to help households who might have struggled to keep up with mortgage payments due to the pandemic. It allowed a suspension of mortgage principal and interest repayments for a maximum of six months, without affecting households’ credit risk scores.

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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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Amber Group to launch Openverse, the gateway into the metaverse

The Paypers

Singapore-based digital asset platform Amber Group has announced its entry into the metaverse with Openverse, a Web3 enablement platform for creators.

Groups 74
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Middle East-focused payment service provider Paymob raises $50M. Paymob competitors are Fawry, Hala, Khazna, PayTabs, and XPay.

CB Insights

Paymob , a payment service provider, has raised $50M in a Series B. The round drew participation from Helios Digital Ventures, Kora Management, FMO, PayPal Ventures, and Clay Point Investors, among others. <span data-sheets-value='{"1":2,"2":"<div class="cbi-cta-shortcode-wrapper"><div class="cbi-cta-shortcode-content"></div><div class="cbi-cta-shortcode-forms" ><div class="cta has-desktop"><

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BigCommerce chooses Mollie as technology partner

The Paypers

US-based ecommerce software company BigCommerce has named payment service provider Mollie as Preferred Technology Partner.

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Four Minnesota credit unions join forces to capture more commercial loans

American Banker

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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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Survey: more banks are open to fintech partnerships

The Paypers

Digital transformation technology provider WSO2 has commissioned a global survey of 300 C-suite banking industry executives.

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Google Wallet makes a comeback as a digital credential app

American Banker

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Central Bank of Azerbaijan adapts interbank payment system to ISO20022

The Paypers

The Central Bank of Azerbaijan Republic (CBAR) has successfully completed switching its Azerbaijan Interbank Payment System (AZIPS) to the ISO20022 standard, according to azernews.az.

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Keynova gives Bank of America high marks for online banking

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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European Banking Authority releases final draft regulatory on EU risk retention

The Paypers

The European Banking Authority (EBA) has recently announced the publishing of its final draft of the regulatory technical standards regarding risk retention.

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Cook confirmed as first Black woman to serve on Fed board

American Banker

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Ebury acquires Bexs

The Paypers

UK-based fintech Ebury has signed an agreement to acquire 100% of the Brazilian fintech Bexs , which includes the businesses Bexs Banco (foreign exchange) and Bexs Pay (payments).

Fintech 36
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Chopra's expansive vision for CFPB authority is facing industry pushback

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.