Thu.Oct 05, 2023

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6 Tips for Effective Credit Risk Rating In Today’s Environment

Jack Henry

Falling asset values, deteriorating credit quality, and a reduced tolerance for risk have dimmed new loan appetite for many community banks and credit unions. Effectively assessing borrower and portfolio risk is more important now than ever before, driving everything from relationship and loan pricing to determining the reserves needed to mitigate economic fluctuations.

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Senate bill would let small businesses use SBA loans to cover fintech fees

Payments Dive

The Financial Technology Association is backing a bill that would clarify that loans made through the Small Business Administration’s flagship lending program can be used to pay for fintech services.

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Dana-Farber Cancer Institute, UBM, and Mecklenburg County Shine as Acquia Engage Awards Finalists

Perficient

Each year, Acquia hosts the esteemed Acquia Engage Awards , recognizing exceptional projects brought to life through their platform and products. The finalists have been announced, and Perficient is proud to have played a pivotal role in three projects that have earned finalist status in their respective categories. Excellence in Governance: Dana- Farber Cancer Institute Leaders of the Pack- Financial Services: UBM Regional Excellence- North America: Mecklenburg County These three projec

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Amex pilots biometrics in online checkout

Payments Dive

The card issuer is testing fingerprint and facial recognition with a fraction of its U.S. consumer cardholders before rolling out the capabilities more broadly early next year.

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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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This week’s podcast episode: A close look at the Federal Trade Commission’s updates to its guides on the use of endorsements and testimonials in advertising and proposed rule on the use of consumer reviews and testimonials

CFPB Monitor

Our special guest is Michael Ostheimer, Senior Consumer Protection Attorney in the FTC’s Division of Advertising Practices. In June 2023, the FTC updated its guides that set forth the FTC’s position on how Section 5 of the FTC Act, which prohibits unfair or deceptive acts or practices, applies to the use of endorsements and testimonials in advertising. .

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What PR Pros Can Learn from Halloween

William Mills

Every year, as the days grow shorter, cold winds blow in from the north, and the barrier between our world and the world of ghosts and ghouls becomes thin, people don masks and disguises to evade the malevolent spirits that emerge to haunt the realms of the living. That’s how the old story goes anyways. Even if it isn’t actually true, its legacy endures, as people still love dressing up for Halloween.

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CFPB plans to hire 50% more enforcement attorneys, support staff

American Banker

The Consumer Financial Protection Bureau plans to hire 75 employees in its enforcement division as it boosts investigations against "large market actors," according to an internal email obtained by American Banker.

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Metro Bank shares plummet as bank prepares fundraising drive

TheGuardian

Stock falls by 25% in early trading as high street lender seeks to raise £350m to shore up its balance sheet Metro Bank shares have plunged after news that the high street lender is seeking to raise hundreds of millions of pounds to shore up its balance sheet. The bank – which was founded by the US billionaire Vernon Hill in 2010 – issued a market statement on Thursday , confirming that Metro was considering a “range of options”, which would remove barriers to further lending and growth.

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Electric vehicles may spark a new EMV standard

American Banker

The market for EV charging is fragmented and complex. EMVCo, the consortium behind the EMV chip-card protocols, has a plan to standardize this rapidly growing market.

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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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What is happening at Metro Bank and why is it in need of so much money?

TheGuardian

The bank is operating at the edges of its capital requirements and shares have tumbled by 30% Metro Bank’s shares plunged by 30% on Thursday after it emerged on Wednesday night that the lender was preparing to ask investors for hundreds of millions of pounds to shore up its balance sheet. Here’s what it means for the bank and its customers. Continue reading.

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Bankers should be looking at the inverted yield curve with real alarm

American Banker

The financial landscape is currently riddled with warning signs that point toward potential liquidity issues for banks.

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Western Union provides international payments for Morocco earthquake victims

The Paypers

US-based money transfer service Western Union has enabled international money transfers for the victims of the Morocco earthquake, as well as relief donations.

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Soft skills, emotional intelligence give female bankers an edge

American Banker

In technology and other departments, women can lead with much-needed "softer" qualities, panelists at the Most Powerful Women in Banking Conference said.

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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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On the job with … Citi TTS global head of instant payments director

BankInovation

Citigroup’s Treasury and Trade Solutions business is looking to hire someone to lead its global instant payments strategy amid the bank’s restructuring and efficiency efforts. The $2.

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Fed's Barr warns of looming AI 'arms race' for cybersecurity

American Banker

The Federal Reserve vice chair for supervision said advancements in technology could put banks in a "constant struggle" to stay ahead of hackers and other bad actors.

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Inside Ally’s AI playbook

BankInovation

Ally Financial has developed an AI playbook to help its employees better understand the technology and take part in its innovation. “AI playbook is the common language that we have created so everybody becomes immersive and understands AI and starts using it,” Sathish Muthukrishnan, chief information, data and digital officer, told Bank Automation News.

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How to overcome roadblocks in financial services innovation

American Banker

A laser focus on intended outcomes and crystal clear communication helps maintain progress, according to banking experts.

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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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NAB partners with Trovata on next-gen cash management solution

The Paypers

National Australia Bank (NAB) has partnered with fintech Trovata to launch NAB Liquidity+, an AI-enabled cash management, analytics, and forecasting platform.

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Workers have better views of employers who value diversity: Survey

American Banker

Employees are more likely to view diverse and inclusive environments as healthier places to work, according to new research presented at American Banker's Most Powerful Women in Banking conference.

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iwoca integrates its B2B payment solution with Shopify

The Paypers

UK-based small business lender iwoca has integrated its B2B payment solution with Canada-based ecommerce platform Shopify.

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Common Home Loan Guarantor Questions Answered

Qudos Bank

Securing a home loan can be challenging, especially if you don't meet a financiers typical lending criteria. That's where a Guarantor for a home loan can make a significant difference. A Guarantor can play a vital role in helping you obtain a home loan by providing additional security to the lender. However, the concept of a Guarantor and the responsibilities involved can be complex and often raise several important questions.

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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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Tietoevry partners with the Maldives Monetary Authority

The Paypers

Fintech solutions provider Tietoevry Banking has announced the launch of the Maldives instant payment system Favara by the Maldives Monetary Authority (MMA).

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How the end of the student-loan pause could hurt deposit levels

American Banker

Following the end of a long moratorium for federal student loan borrowers, monthly payments are expected to total $18 billion. Much of that money will come from checking and savings accounts, which will put more pressure on banks' deposit bases.

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CLEAR launches reusable KYC solution

The Paypers

Secure identity company CLEAR has expanded into financial services with the launch of its reusable Know Your Customer (KYC) solution to simplify the onboarding experience.

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Celebrating 75 Years of ICU Day

Image Works Direct

International Credit Union Day ® , or ICU Day, is a yearly celebration of credit unions around the world. It’s a time to look back over the history of credit unions and their impact on banking as a whole. It’s also a great time to promote financial learning and special deals to help improve the financial health of your accountholders.

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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.