Thu.Oct 21, 2021

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Canada, time to expect an innovative lifestyle banking app

Accenture

The first mobile banking application hit the Canadian market over ten years ago. Since then, advancements have included an e-deposit and mobile business app, a remote deposit capture feature, a banking app on the Apple Watch, and more. Apps have become a part of our everyday lives, from fitness to shopping, social media and news.…. The post Canada, time to expect an innovative lifestyle banking app appeared first on Accenture Banking Blog.

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Waiting (Patiently?) for Interest Rates to Rise: 4 Growth Moves to Prepare for Fed Rate Hike

Abrigo

With a Fed Rate Hike Looming, Here's How to Position Your Bank or CU The timing of a rate hike by the Fed is uncertain, but credit unions and banks can act now to create increased earnings more quickly. You might also like this decision guide: "What Do I Do with All This Excess Money?" Options for Using Excess Liquidity DOWNLOAD . Takeaway 1 The economic recovery's uneven pathway has made it difficult for financial institutions to plan on the timing of a Fed rate hike. .

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ATM podcast explores cloud, machine learning, innovative tech

ATM Marketplace

ATMs rapidly becoming more complex and innovative, especially as vendors integrate technologies such as cloud tools, machine learning, predictive analytics, remote monitoring and management and more. Manpreet Singh, chief product officer at Cloudexa, addressed these ATM innovations during today's episode of the ATM Marketplace podcast.

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Problems persist for BBVA customers after PNC’s great app purge

BankInovation

The CEO of PNC said on Friday’s earnings call that he was proud of the bank’s ability to convert 2.6 million BBVA USA customers, citing technology as a key factor. But some BBVA customers tell a different story — one about a poorly executed, manual conversion. The $553.5 billion Pittsburgh-based PNC, which completed its $11.6 […].

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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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Everything You Should Know About Personal Loan in Bangladesh-Read Before You Apply

FluentBanking

Sometimes we fail to save enough money for an emergency or any other reason. This sudden cash requirement can be managed through personal loan. Almost all the banks in our country is offering personal loan. But the eligility criteria is not same for all the banks. Basically you can take a loan for your upcoming wedding , purchasing a gadget or even in case of any emergency medical need.

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Barclays profits double as CEO brushes off inflation and supply chain fears

TheGuardian

Strong mortgage lending and booming investment fees boost quarterly profits to £2bn Barclays almost doubled its third-quarter profit to £2bn as it benefited from strong mortgage lending in the UK and a boom in investment banking. The British bank’s profit before tax in the three months to September rose from £1.1bn a year ago , taking its year-to-date profit to an all-time high of £6.9bn.

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FDX update to API adds data sharing, security and consent control

BankInovation

The nonprofit standards body Financial Data Exchange (FDX) released an update to its API today, adding support for two-way data sharing between data providers and third-party fintechs, as well more consumer control of where data is shared. FDX is looking to standardize financial data sharing as U.S. financial institutions continue to adopt open banking.

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Four Generational Marketing Imperatives for Engaging Millennials and Gen Z

Banking Exchange

Almost every brand across industries is courting millennials and Generation Z consumers Retail Banking Technology Lines of Business Financial Trends Feature Customers Feature3 People Digital Mobile Tech Management Online Financial Research Fintech.

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CFPB, federal and state bank and credit union regulators warn of increased supervisory scrutiny in joint statement on managing LIBOR transition

CFPB Monitor

The CFPB, Federal Reserve Board, FDIC NCUA, OCC, in conjunction with the state bank and state credit union regulators, jointly issued a statement on managing the transition away from LIBOR (Joint Statement). In 2017, the United Kingdom’s Financial Conduct Authority (FCA), the regulator that oversees the panel of banks on whose submissions LIBOR is based, announced that it would discontinue LIBOR sometime after 2021.

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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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Supporting Communities with Personal Financial Management Tools

Jack Henry

Financial wellbeing is a lifelong journey with many twists and turns and no clear destination. As of August 2020, more than two-thirds of people in America (approximately 167 million people) are not financially healthy. Financial health disparities have widened by race and persisted across gender over the past year. These individuals are struggling to spend, save, borrow, or plan in ways that allow them to be resilient and seize opportunities over time.

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CFPB/FTC/North Carolina DOJ file amicus brief with Fourth Circuit in support of reversal of district court decision giving FCRA immunity to consumer reporting agency under the Communications Decency Act

CFPB Monitor

The CFPB, FTC, and the North Carolina Department of Justice filed an amicus brief with the U.S. Court of Appeals for the Fourth Circuit urging it to reverse a district court decision that found Section 230 of the Communications Decency Act made a consumer reporting agency immune from FCRA claims. In Henderson v. The Source for Public Data, L.P. , the plaintiffs alleged that Public Data qualified as a “consumer reporting agency” under the FCRA because it collected, sorted, summarized, and assembl

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PayPal in $45B bid for Pinterest | A Facebook name change could be a great idea — or a terrible one | N26 secures $900m – now valued at $9B

Bussman Advisory

FinTech Ecosystem Insights by Bussmann Advisory is our weekly newsletter with over 40’000 subscribers across different social media channels, summarizing relevant news and reports related to ecosystems around disruptive technologies, highlighting key updates from the industry as well as our portfolio companies: PayPal in $45 billion bid for Pinterest A Facebook name change could be a great idea — or a terrible one Neobank N26 secures $900 million – now valued at $9 billion.

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This week’s podcast: CFPB enforcement action developments and trends

CFPB Monitor

CFPB enforcement activity has already ramped up and the pace is expected to increase with Director Chopra now at the helm. We look at the areas expected to be the focus of intensified enforcement activity, such as military lending, fair lending, and treatment of LEP consumers, and new areas under consideration by CFPB enforcement staff, such as machine learning models, use of alternative data, and fair lending related to servicing and loss mitigation (particularly in light of the end of pandemi

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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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Top Challenges in Risk Management: Are Your Risk Models Working?

FICO

How can lenders best measure and manage credit risk, given the disruptive patterns in consumer behaviour over the last 18 months? How can large banks ensure their digital transformation programmes make them more competitive? What is the value of a diverse team and new ideas? Last week a FICO team met with chief risk officers from some of the biggest UK banks to discuss these and other challenges, at our UK CRO Summit.

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LOTTE Finance and OpenWay introduce new BNPL service to Vietnam

The Paypers

LOTTE Finance Vietnam, a subsidiary of LOTTE Card, one of the credit card companies in South Korea, has launched a Buy Now, Pay Later (BNPL) service to enhance the online shopping experience of Vietnamese consumers.

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The Five Pillars of a Decision Management Platform

FICO

It’s widely accepted that the most successful market-leading organizations often share many common attributes. In fact, many continue to record success and top-performing business results by embedding a culture of continuous learning and innovation. New strategies are constantly developed and tested via simulated to enable experimentation, often with radically new approaches in a low-cost and low-risk environment.

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ChargeAfter's BNPL financing platform now available on Lenovo.com

The Paypers

US-based multi-lender Buy Now, Pay Later financing platform ChargeAfter has announced that Lenovo launched its services on its US website and now shoppers cand receive financing from multiple lenders.

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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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How climate risk is already creeping into banking policy

American Banker

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Sift launches new API and fraud protection features

The Paypers

Sift , a US-based fraud prevention company, has announced the launch of several new capabilities for fintechs to capitalise on their growth opportunities while mitigating fraud.

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Hercules Duo

ATM Marketplace

Scale faster with the Hercules portfolio management platform featuring built-in RMS.

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ACCA releases recommendations on tackling fraud

The Paypers

The Association of Chartered Certified Accountants (ACCA) have released a new report providing recommendations in tackling fraud and addressing ongoing concern issues.

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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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Hercules Shield

ATM Marketplace

Scale faster with the Hercules portfolio management platform featuring built-in RMS.

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CFPB orders tech giants to turn over payment system information

American Banker

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ComplySci acquires NRS

The Paypers

US-based provider of regulatory technology solutions ComplySci has bought compliance and registration company National Regulatory Services to support its clients’ needs.

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Where gender and racial gaps persist in financial services — and why

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.