Tue.Sep 26, 2023

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How can banks craft the customer journey?

ATM Marketplace

Banks have made efforts to improve their customer journeys, but consumers often feel it isn't enough. How can banks fix this issue? A panel at the Bank Customer Experience Summit held from Sept. 12 to 13 in Charlotte, North Carolina took a closer look at this topic.

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Is FedNow pivotal for payments or overhyped?

Payments Dive

FedNow won’t fill the gap between the U.S. and other countries in payments innovation, writes one fintech CEO.

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FinCEN Issues Small Entity Compliance Guide for Corporate Transparency Act

CFPB Monitor

The Financial Crimes Enforcement Network (“FinCEN”) has published a Small Entity Compliance Guide (the “Guide”) for beneficial ownership information (“BOI”) reporting under the Corporate Transparency Act (“CTA”), as well as updated FAQs regarding CTA compliance. The Guide contains six chapters and an appendix. It is 56 pages long. It appears to be useful to its apparent target audience, which is small businesses confronting relatively simple issues under the CTA.

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Wawa’s $10.7M data breach lawsuit against Mastercard thrown out

Payments Dive

The convenience retailer accused the card network company of breach of contract and unfair practices stemming from its 2019 malware attack.

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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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Europe’s banks helped fossil fuel firms raise more than €1tn from global bond markets

TheGuardian

Exclusive: Pan-European investigation looked at thousands of transactions since Paris climate agreement in 2016 Banks including some of Europe’s largest lenders have helped fossil fuel companies to raise more than €1tn (£869bn) from the global bond markets since the Paris climate agreement, according to an investigation by the Guardian and its reporting partners.

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Appraisal Dept. Talent: Why Banks Shouldn’t Let Go

Realwired Appraisal Management Blog

The pressure is on. With tightening margins, banks are scouring their balance sheets, hunting for opportunities to cut costs. However, it’s vital that in this quest for efficiency to understand that letting go of appraisal department talent is a HUGE mistake.

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Andreessen Horowitz pushes cross-border payment improvements

Payments Dive

While money is much older than software, it’s still more difficult to move payments around the world, the venture capital firm said in a recent report advocating cross-border improvements.

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Stated Income Commercial Loans

Commercial Lending USA

The Lite/ No Doc Loan program is becoming a popular loan today. It does not require any income to qualify for a commercial or residential investment loan.

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Real leadership requires executives who can look beyond 'ESG backlash'

American Banker

Long-term business profit is inextricably tied to sustainability. The head of the U.K.'s Chartered Banker Institute explains that financial services leaders have a special responsibility to understand and communicate that fact.

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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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Podcast: Data analytics, automation help FIs better understand customer sentiment

BankInovation

Financial institutions can look to data analytics technology to better understand customer sentiment so they can drive organizational change.

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Square's Canadian cannabis deal plants seeds for U.S. growth

American Banker

The payment company's partnership with tech firm Jane is focused on Canada, but it enables a quick expansion if the SAFER Banking Act passes.

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Five Questions With … Lloyds Bank Group Head of Data and AI Ethics Paul Dongha

BankInovation

Lloyds Bank Head of Data and AI Ethics Paul Dongha is focused on developing AI use cases to generate trustworthy and responsible outcomes for the bank’s customers. In March, the Edinburgh, U.K.-based bank invested an undisclosed amount into Ocula Technologies, an AI-driven e-commerce company, to help improve customer experience and drive sales. Meanwhile, the $1.

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From Caracas to Miami: One branch manager's banking journey

American Banker

Born in Venezuela, Lolita Perozo initially came to the U.S. to further her education and improve her English. Now 20 years into her banking career, she serves as a branch manager for Amerant Bank in Florida and is described by her boss as "always looking for additional opportunities to give back to the community.

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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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Greenomy partners with Microsoft

The Paypers

Belgium-based company Greenomy has announced its partnership with Microsoft to provide ESG data and RegTech services to corporate clients and financial institutions.

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Can big profits be a red flag in banking? Yes, a new study finds.

American Banker

Bankers often use return on equity to measure their success, but the banks whose stock prices have suffered most during past crises are the ones with high ROEs, according to new research. The findings add to academic skepticism about high-profit banks.

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Endoxa launches Position Reporting Utility supported by Droit

The Paypers

Endoxa, a consortium of five banks including Barclays, BNP Paribas, Goldman Sachs, and HSBC, have set to develop a Position Reporting Utility with Droit as their tech provider.

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Dimon warns 7% Fed rate is still possible, Times of India says

American Banker

The JPMorgan Chase CEO's comments contrast with the consensus view after 5.25 percentage points of hikes that lifted the benchmark rate to 5.5% — the highest level in 22 years. Money markets are pricing in cuts from next year.

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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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Cashfree Payments launches One Escrow

The Paypers

India-based payments and API banking company Cashfree Payments has launched its One Escrow platform, a modular escrow solution that ensures trust and transparency in financial dealings.

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What does and doesn't matter about the Menendez indictment

American Banker

The indictment of Senate Banking Committee member Bob Menendez, D-N.J., on bribery and corruption charges may not have a lot of impact on banks' near-term legislative priorities, but it is emblematic of a deeper struggle to preserve the rule of law.

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Brankas partners with Konsentus to launch BaaS platform

The Paypers

Open Finance company Brankas has partnered with SaaS tech provider Konsentus to offer centralised technology infrastructure and Banking-as-a-Service (BaaS) solutions to expedite Open Finance.

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Private equity is piling debt on itself like never before

American Banker

Private equity firms have been increasingly adding another layer of debt to their complex borrowing arrangements, raising concern among some investors about potential risks to the wider industry and the financial system.

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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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Bank ABC leverages J.P. Morgan's Coin Systems for blockchain payments

The Paypers

Bahrain-based Bank ABC has leveraged J.P. Morgan 's Coin Systems for blockchain payments, following a partnership with the Central Bank of Bahrain (CBB).

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U.S. government shutdown nears as moderates try to keep It short

American Banker

(Bloomberg) — The US government is hurtling toward an Oct. 1 shutdown as Senate leaders and House moderates work to try to at least shorten a disruptive federal funding lapse.

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iDEAL partners with in3

The Paypers

iDEAL has partnered with Netherlands-based fintech in3 to launch a pilot where clients will be enabled to pay in three instalments by using iDEAL’s payment methods.

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JPMorgan to block crypto payments from Chase UK bank accounts

American Banker

JPMorgan Chase's U.K. digital lender is blocking customers from making crypto payments, citing an increase in frauds and scams.

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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.