Mon.Apr 05, 2021

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Fintechs and the Government Teamed Up for COVID: Will It Last?

Banking Exchange

Fintechs stepped up to the plate in giving Americans faster access to stimulus checks without fees Payments Duties Retail Banking Technology Feature3 Fintech Feature PPP Covid19 The Economy.

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Market Commentary: Week of April 5, 2021

SWBC's LenderHub

Last Week: Last week, U.S. economic news came up a royal flush! The Biden White House went big with the introduction of a $2 trillion infrastructure plan; the Suez Canal was cleared of the gigantic Ever Given (terrible name) container ship; the BLS Non-Farm Employment numbers showed much better-than-expected job gains; and COVID-19 vaccines in U.S. continued picking up sharply.

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Extinction Rebellion to step up campaign against banking system

TheGuardian

Group aims to highlight financial sector’s role in climate crisis through escalation in tactics this week Extinction Rebellion is planning to step up its campaign against the banking system with a series of direct action protests and debt strikes in the coming weeks aimed at highlighting the financial sector’s role in the escalating climate crisis. Last week the group targeted Barclays Bank’s headquarters in London and the Bank of England as well as high street branches across the UK as part of

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Cisco Podcast Team Wraps Up Five-Part Financial Services Series

Cisco

Five episodes and eight guest speakers later, we have officially wrapped up our first Financial Services podcast series. Over the past five weeks, Cisco’s Conversations & Coffee Podcast channel has focused exclusively on financial services. Each week co-hosts Danny Vicente and Garry Senna welcomed new guests and dove into a different aspect of the industry.

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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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Analysis finds security flaws in 94 popular banking apps

BankInovation

A security analysis of 107 banking apps released last week has found security flaws in 88 percent of the apps — some of which might be avoided through automation. The mobile banking apps were among the 3,335 of the most popular free and paid Android apps on the Google Play Store that were downloaded and […].

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How FIS helped expand food assistance programs

Payments Source

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Goldman Sachs prepares for staff to return to London office this week

TheGuardian

Investment bank could see 200 of its 6,000 London workers back in the office after Easter break Coronavirus – latest updates See all our coronavirus coverage Goldman Sachs is preparing for hundreds more staff to go back to its London office this week as it eyes a return to pre-pandemic working conditions. As many as 200 of the US investment bank’s workers could return to the main London office from Tuesday, joining several hundred staff who have been at their desks throughout several lockdowns.

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BofA acquisition makes its health care payments business more nimble

Payments Source

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John Lewis Finance caused our refund delays, then blamed us

TheGuardian

It said it couldn’t help with our claim as our time had run out – but that was because it was so slow Last February we bought Ryanair flights to Ibiza for a family-of-four holiday. When the government grounded the flights, Ryanair initially offered a voucher. When we asked for a refund, it said that the flight was cancelled by “causes outside of their control”, so they could not do so.

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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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Laundering Rules are Getting Tougher, But Also Easier to Follow

Payments Source

Banking Compliance Payment fraud AML

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Long Term Disability Insurance: How Does It Work?

MyBankTracker

If you become disabled, it impacts your life in many ways. Disability can make simple tasks around the house much harder or take much longer to complete. Even worse: Disability may prevent you from handling your duties at your job. This could result in a loss of income if you can’t work and don’t have vacation or sick leave to cover the time off you need to recover.

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“Centralized Decisioning”: The Industry’s Most Cutting Edge Decision Management Solution Needs a Better Name

FICO

If you speak with FORTUNE Global 1000 executives from around the world, they all have the same decision management mission: they need quickly transform their traditional business capabilities to digital…. break down the silos of data across their enterprise… build a complete 360 º view of every customer across their buying lifecycle… and to maximize ROI.

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Acorns Review: Automated Micro-Investing Made Simple

MyBankTracker

Saving money and investing can be complicated at the best of times. Figuring out how much you can save, actually putting that money aside, and making good investment choices is difficult. Many people who don’t want to deal with the stress put off investing until it’s too late, or never get started at all. Acorns is an app that aims to make investing easier by automating the process.

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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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Why card issuers cling to legacy tech despite a demand for modernization

Payments Source

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First State Bank (OH) Kasasa Brand Products Available Nationwide

BankDeals

First State Bank (OH) is currently offering its competitive Kasasa Cash, Kasasa Cash Back, and Kasasa Saver on a nationwide basis through an online application.

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Morgan Stanley fills for Bitcoin exposure for 12 mutual funds

The Paypers

US-based Morgan Stanley has filed with the US Securities and Exchange Commission (SEC) to add Bitcoin exposure to 12 of its mutual funds’ investment strategies.

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Card fraud has gotten more brazen during the pandemic

Payments Source

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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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LendInvest partners with Credit Kudos to boost its lending decisions

The Paypers

Property financing platform LendInvest has teamed up with credit reference fintech Credit Kudos to strengthen its underwriting through Open Banking, according to AltFi.

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Citi hires Fincen’s Blanco as financial crimes compliance chief

Payments Source

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The Federal Reserve to launch FedNow for settlements process

The Paypers

The Federal Reserve has launched a two-year pilot program, called FedNow, designed to improve the clearing and settlements process.

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Security State Bank (KS) Interest Reward Checking Available Statewide

BankDeals

Security State Bank (KS) is offering its new and competitive Interest Reward Checking and Interest Reward Savings accounts on a nationwide basis.

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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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Deutsche Bank sanctioned by South African Reserve Bank over compliance weaknesses

The Paypers

The South African Reserve Bank (SARB) has imposed administrative sanctions on Deutsche Bank in Johannesburg.

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BofA acquires health care tech startup Axia in payments push

Payments Source

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Uruguay-based dLocal secures USD 150 mln investment

The Paypers

Cross-border payments startup dLocal has raised USD 150 million at a USD 5 billion valuation, less than seven months after securing USD 200 million at a USD 1.2 billion valuation, according to TechCrunch.

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Transparency, diversity make Vestwell a Best Fintech to Work For

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.