Thu.Nov 02, 2023

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Connecting the Fintech Ecosystem: Thoughts from Jack Henry Connect

William Mills

Jack Henry Connect was bigger than ever this year. About 2,750 bankers (representing 880 banks and credit unions) joined 250 fintechs in Indianapolis to collaborate and exchange ideas.

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Treasury Prime creates instant payment rail

Payments Dive

The new payment rail allows fintech clients to move money between banks in milliseconds, the software company’s CEO said in an interview.

Payments 437
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The Four Pillars of Smarter Bank Leadership

Gonzobanker

Financial institutions standing in 2030 will have completed a significant and gut-wrenching transformation of their leadership talent. Every year, digitization further rattles the relevancy of the traditional hierarchical banking organization. In the throes of managing balance sheets and loan portfolios and at the same time executing daily “run the bank” operations, bankers are faced with the need to continuously develop new customer experiences and scale enterprise capabilities.

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PayPal’s new CEO promises improvements

Payments Dive

Alex Chriss, who took the top post in September, tapped a new chief financial officer Wednesday and pledged to better focus the digital payment company's strategy.

Strategy 389
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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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Benefits of a Multilingual Digital Banking System

Jack Henry

The benefits of a multilingual digital banking system go far beyond expanding a Financial Institution’s customer base. Click to learn more.

More Trending

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California Court Denies DFPI’s Motion for Preliminary Injunction Against OppFi

CFPB Monitor

On November 30, 2023 at 12:30 PM, ET, Ballard Spahr will hold a webinar entitled “Recent Important Developments in Federal Preemption for National and State Banks: What They Mean for Bank and Nonbank Consumer Financial Services Providers” during which this case will be dissected. In a lengthy (65-page) order , the California Superior Court in Los Angeles has issued an extremely important decision upholding the legitimacy of bank-model online lending by denying a motion for preliminary injunction

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Klarna transfers 500 jobs in cost-cutting move

Payments Dive

The buy now, pay later provider is cutting about 500 positions across 10 markets and outsourcing those roles to two partners, a company spokesperson said.

Marketing 243
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This week’s podcast episode: The U.S. Supreme Court’s decision in Community Financial Services Association of America Ltd. v. Consumer Financial Protection Bureau: Who will win and what does it mean?  Part II

CFPB Monitor

On October 3, 2023, the U.S. Supreme Court held oral argument in CFSA v. CFPB , a case with profound potential implications for the future of the CFPB. The Court will rule on whether the CFPB’s funding mechanism violates the U.S. Constitution’s Appropriations Clause and, if so, what the appropriate remedy should be. .

America 78
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PayPal promotes Archie Deskus to CTO

Payments Dive

The move expands the executive's oversight to include platform engineering teams, the company said Thursday.

Company 195
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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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JPMorgan Chase discloses multiple investigations by U.S. regulators

American Banker

Regulators are looking into practices within JPMorgan's securities arm and investigating parts of its trading operations, according to a regulatory filing by America's largest bank.

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Combatting Fraudsters with AI and ML

BankInovation

In recent years, community and regional banks have been under increasing obligation to discover and report money laundering and tamp down on fraud losses. And this trend shows no sign of slowing down.

Fraud 63
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How a Wyoming credit union is doing more lending despite lower demand

American Banker

Consumer appetites for new loans have slowed in the face of record interest rates, but Sunlight Federal Credit Union's partnership with Avana Capital helps identify commercial real estate opportunities in markets both local and national.

Wyoming 81
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Q3 earnings roundup: Tech spend jumps, headcount falls

BankInovation

Major U.S. banks invested in AI and automation while pulling back on headcount as cost reductions remained a priority during the third quarter. Bank of America, BNY Mellon, Citibank, Citizens Bank, Fifth Third, and JPMorgan Chase, all reported higher tech spend year over year. The $1.

America 59
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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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Mint: A surprising lesson in security

American Banker

Intuit is shutting down one of the most popular personal financial management sites of its time — which attracted millions of users despite its counterintuitive approach to accessing consumer data.

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Podcast: Managing payments pressure

BankInovation

Payments fintechs are leaning on technology as consumers look to them to alleviate payments pressure in today’s high interest rate environment.

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Florida credit union buys insurance firm to boost noninterest income

American Banker

Achieva Credit Union, which previously bought two community banks, is furthering its growth through the acquisition of an insurance company.

Florida 85
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Microsoft starts selling AI tool for Office | Musk wants X to replace the need for a bank | SEC subpoenas PayPal over stablecoin

Bussman Advisory

This week’s must-know stories in the FinTech, AI and Digital Asset space: Microsoft starts selling AI tool for Office, which could generate $10 billion a year Musk wants X to replace the need for a bank SEC subpoenas PayPal over stablecoin Plus, 9 more exclusive stories to help you stay ahead of the curve! The latest edition of the FinTech Ecosystem Newsletter is here : Join our Community Join our community of 52,000+ subscribers and stay informed on the latest trends and news in the FinTe

Tools 52
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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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Minnesota sues out-of-state tribe over loans with annual rates of 500%

American Banker

The lawsuit by state Attorney General Keith Ellison is the latest challenge to high-cost loans by tribal lenders. The lenders argue that tribal sovereignty gives them immunity from such lawsuits.

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Why U.S. Bank Is Elbowing into the Competitive BNPL Space

The Financial Brand

This article Why U.S. Bank Is Elbowing into the Competitive BNPL Space appeared first on The Financial Brand. U.S. Bank sees potential for merchant-based buy now, pay later programs online, in person and when invoices arrive. Here’s its marketing strategy for Avvance. This article Why U.S. Bank Is Elbowing into the Competitive BNPL Space appeared first on The Financial Brand.

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PayPal receives SEC subpoena focused on stablecoin work

American Banker

The subpoena asks the company to produce documents tied to its work on the dollar-linked stablecoin PayPal USD. The company says in a regulatory filing that it's cooperating with the probe.

Company 58
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Maximizing ATM Marketing Deepens Customer Relationships

The Financial Brand

This article Maximizing ATM Marketing Deepens Customer Relationships appeared first on The Financial Brand. Though banks and credit unions are all about improving the customer experience these days, one touchpoint that’s often overlooked is the ATM. This article Maximizing ATM Marketing Deepens Customer Relationships appeared first on The Financial Brand.

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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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Banks 'flying blind' without cumulative data on regulatory proposals

American Banker

Trade groups, analysts and some regulators want more data on how various regulatory changes and proposals would impact the banking sector in totality. But regulatory agencies have yet to take on such a project and private sector groups say the task is beyond their capabilities.

Data 56
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Unlock AI’s Often Overlooked Potential to Improve Your Core Processes

The Financial Brand

This article Unlock AI’s Often Overlooked Potential to Improve Your Core Processes appeared first on The Financial Brand. Q&A: Obsessed with sexy customer-facing AI, banks are ignoring internal uses that can deliver real-world results now, says Ron Shevlin. This article Unlock AI’s Often Overlooked Potential to Improve Your Core Processes appeared first on The Financial Brand.

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PayPal CEO: company's focus 'has not been clear'

American Banker

Alex Chriss, the new chief executive, says the firm aims to reverse its stock slump by assessing its business to favor its best-performing products.

Company 62
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Cheat Sheet: Can Marketers Focused on Short-term Wins Drive Long-term Growth?

The Financial Brand

This article Cheat Sheet: Can Marketers Focused on Short-term Wins Drive Long-term Growth? appeared first on The Financial Brand. A New BAI report offers advice to financial marketers struggling to juggle competitive threats and emerging tech. This article Cheat Sheet: Can Marketers Focused on Short-term Wins Drive Long-term Growth? appeared first on The Financial Brand.

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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.