Mon.Nov 22, 2021

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Breaking down common barriers to purpose-driven banking

Accenture

In this series we’ve taken a close look at the business case for embracing purpose in banking. In short, there’s compelling evidence that focusing on customer wellbeing can catalyze growth and digital transformation. Embracing purpose is more than a PR move. It is a powerful opportunity—and a formidable challenge. Today we’re going to unpack four of the….

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Federal agencies approve cyber-attack rules for US banking system

Banking Exchange

OCC, Board, FDIC will require banks to report incidents within 36 hours Compliance Compliance Management Compliance/Regulatory Cyberfraud/ID Theft Security Mobile Online Core Systems Risk Management Technology Feature Feature3.

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6 Steps to Seamless Account Holder Onboarding

SWBC's LenderHub

More and more, financial institutions are focusing on the consumer experience. Particularly, in our post-pandemic environment where consumers are leveraging self-serve channels for their day-to-day activities, user experience has become critical to maintaining and growing relationships.

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Omarova faces more scrutiny on banking regulation reform stance

Banking Exchange

The Biden OCC nominee faced questions from the banking committee on Thursday Compliance Feature3 Feature Financial Trends Duties The Economy.

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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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Decoded: The Alternatives To A Traditional IPO

BankBazaar

With a rush of IPOs making the news recently, let’s take a look at a few other options a company may consider to go public. Buckle up as we break down SPACs and direct listings for you. Although an initial public offering (IPO) is still the go-to choice for many, the extensive process before undergoing an IPO isn’t really a walk in the park. IPO involves complex regulatory filings and months of negotiations with underwriters and regulators.

More Trending

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Four Data Strategies to Scale Real-Time Operations

Banking Exchange

Valuable suggestions to help financial institutions avoid outages, make accurate business decisions, provide personalized experiences, and fight fraud Technology Feature Tech Management Outsourcing/Cloud Mobile Online Core Systems Digital Feature3.

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Citi to hire 100 people in push into digital assets

BankInovation

Citigroup Inc. is looking to hire 100 people as part of a new push into digital assets inside its institutional business, according to a person familiar with the matter. As part of the effort, the firm tapped Puneet Singhvi to be its new head of digital assets inside the institutional-clients group, according to a memo […].

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Trade groups challenging CFPB payday loan rule file opening brief with Fifth Circuit

CFPB Monitor

The trade groups challenging the payment provisions in the CFPB’s 2017 final payday/auto title/high-rate installment loan rule (2017 Rule) have filed their opening brief with the Fifth Circuit. The trade groups filed an appeal with the Fifth Circuit from the district court’s final judgment granting the CFPB’s summary judgment motion and staying the compliance date for the payment provisions until 286 days after August 31, 2021 (which would have been until June 13, 2022).

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Banks, fintechs automate business treasury functions

BankInovation

PNC, Citi and Bank of the West have all begun offering solutions that automate their business customers' treasury functions, including real-time payments and cash-forecasting tools, to speed processes and transactions that have traditionally been manual. Treasurers require access to real-time information to make informed decisions and the $105.4 billion Bank of the West, a subsidiary […].

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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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CFPB issues guidance to staff to address concerns about “revolving door” and “special treatment” of former CFPB employees

CFPB Monitor

This past Friday, the CFPB issued guidance to its staff titled “ Ethics Guidance for Engaging with Former Federal Employees.”. In an accompanying statement , Director Chopra indicated that the guidance was needed to protect the public interest from potential risks and misconduct associated with the “revolving door.” He described the “revolving door” (i.e. when an individual moves back and forth between government and private employment) as a phenomenon that allows former government employees to

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Finovate Interview Series: Part 1

William Mills

In our new video series, William Mills, CEO of WMA, interviews leading fintech professionals at Finovate to examine the latest technology and advancements in the industry. William sits down with Jas Randhawa, Head of Financial Crimes at Stripe, to discuss the current landscape of financial crimes, trends he's seeing to address these threats, and advice for organizations on protecting themselves and their customers.

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Simmons Banks and Spirit of Texas Set to Merge Boosting Texas Footprint

Banking Exchange

Combined firms will expand into Austin, Houston, San Antonion, Corpus Christi and Bryan-College Station Management Feature M&A Feature3 Community Banking.

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Tencent Invests In South Africa-Based Payments Gateway Ozow

CB Insights

Ozow , a online payment gateway, has raised $48M in a Series B round. This round drew participation from Endeavor Harvest Fund, Endeavor Catalyst, and Tencent Holdings. HOW’S THE COMPANY PERFORMING? South Africa-based Ozow automates the online payment process for merchants and consumers. The company caters to over 47M account holders. Ozow’s clients include Uber, Vodacom, MTN, Shoprite Group, and Takealot, among others.

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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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Meeting Future Leaders in AI and Machine Learning

FICO

On Wednesday 4th November I had the pleasure of presenting and talking to over a hundred Mathematics, Computing, Physics and Economics A-Level students at Winstanley College in Orrell, Wigan, about AI and machine learning , as a part of the Pathways to Profession programme. Every year Winstanley College students pursue careers in the tech field, thanks to the college's longstanding dedication to the disciplines of science, technology, engineering, and mathematics - so-called STEM subjects.

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Paysafe research: online retailers face checkout problems during holiday season

The Paypers

New Paysafe -commissioned research has revealed that around 36% of retailers are experiencing online checkout problems during high customer volume months.

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Envision Credit Union Raises Long-Term CD Rates

BankDeals

Envision Credit Union (FL/GA) has raised the rates on its 36-month and 48-month CDs to competitive levels. Minimum deposit is $500. Also available as IRA CDs.

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CUBE to supply regtech services to Revolut

The Paypers

Regtech company CUBE has partnered with financial super app Revolut to provide regulatory technology, with a focus on horizon scanning and managing regulatory change at a global scale.

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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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Amazon's fintech partnerships increase pressure on card networks

American Banker

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El Salvador to create 'Bitcoin City'

The Paypers

El Salvador, the only country in which Bitcoin is a legal tender, has announced plans to build an entire city based on the cryptocurrency.

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KeyCorp buys fintech partner to streamline payments business

American Banker

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ACI Worldwide Report: global ecommerce transactions to increase by 23 per cent

The Paypers

Real-time digital payment software fintech ACI Worldwide has conducted a new report stating ecommerce transactions will rise 23% between Thanksgiving and Cyber Monday 2021.

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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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Tight labor market is no excuse for keeping subpar employees

American Banker

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UAB SME Bank to give up to EUR 100 mln to SMEs

The Paypers

Lithuania-based financial intermediary UAB SME Bank has signed a guarantee agreement with the European Investment Fund to bring up to EUR 100 million financing to Lithuanian SMEs.

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Millennials Now Trust Fintechs as Much as Banks

The Financial Brand

Skyrocketing adoption of fintech is not only changing the way consumers bank, it’s changing how they live, think, and interact with money. The post Millennials Now Trust Fintechs as Much as Banks appeared first on The Financial Brand - Banking Trends, Analysis & Insights.

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TelcoSwitch integrates with British ecommerce platform EKM

The Paypers

Unified communications and compliance solutions provider TelcoSwitch has announced that its omnichannel CX platform, 3Sixty, now offers integration with UK-based ecommerce provider EKM.

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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.