Fri.Apr 30, 2021

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Rebeca Romero Rainey: Lead with purpose

Independent Banker

Photo by Robert Severi. Our approach to service is not about checking something off the list for today. It’s about making incremental positive change over time. In today’s world, it’s more important than ever for businesses to lead with purpose. Consumers are demanding it from the companies with which they do business—so much so that in its Retail Trends 2021 list, Deloitte said it expects purpose to be as disruptive in the next 10 years as digital has been in the past 10.

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The customer experience: How the pandemic changed e-commerce

ATM Marketplace

The pandemic changed how customers viewed shopping and spending. But as the world moves into post-pandemic, retailers are concerned with creating a positive customer experience. Rafael Lourenco, executive vice president at ClearSale shares his thoughts on ways to improve the customer experience.

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UK heading for biggest economic boom since 1948 – Barclays chief

TheGuardian

Jes Staley says bank continues to take ‘cautious view’ of impact of Covid-19 pandemic Coronavirus – latest updates See all our coronavirus coverage The UK economy is on course for its biggest economic boom since 1948 as the country’s coronavirus vaccination programme allows consumers to go out and spend, according to the chief executive of Barclays.

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FTC settles claims alleging merchant cash advance providers engaged in unfair and deceptive practices

CFPB Monitor

The Federal Trade Commission recently announced that it has settled the lawsuit it filed against Yellowstone Capital LLC, a provider of merchant cash advances, and its chief executive officer and president for alleged unfair and deceptive conduct in violation of section 5 of the FTC Act, 15 U.S.C. § 45. In its Complaint, the FTC alleged that the defendants engaged in deceptive acts or practices by (1) representing that they did not require collateral or personal guarantees from business owners w

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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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Mortgage prisoners ‘distressed and betrayed’ as MPs reject interest cap

TheGuardian

Borrowers still trapped into paying 5%-plus rate with inactive lenders that do not offer cheaper deals Mortgage borrowers trapped on interest rates of more than 5% say they are “disappointed, distressed and betrayed” after MPs voted against a cap on how much lenders can charge. The plan to limit standard variable rates (SVRs) charged by inactive lenders was an amendment to the financial services bill added in the House of Lords to help a group of about 250,000 borrowers known as mortgage prisone

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Weekly Wrap: Bank automation lags and payments fraud picks up

BankInovation

This week, in "The Buzz," Bank Automation News explores why banks lag behind other industries when it comes to automation, and also discussed rising losses due to digital payments fraud. Fifty-eight percent of banks have widely deployed automation technologies, compared to 67% across other industries, according to a recent Accenture survey. Today the BAN team […].

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Don't believe the talking points: Cards benefit businesses.

Payments Source

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EU moves to ban ‘unacceptable’ uses of AI

BankInovation

As the European Union moves toward banning “unacceptable” uses of artificial intelligence (AI) systems, its proposed rules could slow the adoption of AI in banking and financial services. Proposed rules released by the EU last week put stringent controls on the use of AI systems for surveillance and “applications that manipulate human behavior,” laying down […].

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What Happens When You Don’t Have Homeowners Insurance?

MyBankTracker

Your home (and the contents inside) is your biggest investment, so replacing the actual structure and your belongings after a disaster can be costly. The good news is that home insurance helps soften the financial burden. Although these policies provide a lot of value, they’re not a legal requirement. And since a policy isn’t required by law, you might assume that you don’t really need one.

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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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Apple hit with EU complaint amid fight over app store fees

Payments Source

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Safe Harbor Credit Union (MI) Offers Kasasa Products Statewide

BankDeals

Safe Harbor Credit Union (MI) has expanded its FOM and now offers its competitive Kasasa Cash, Kasasa Cash Back, and Kasasa Saver on a statewide basis.

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US bank M&A surges as tech investment drives deals

The Banker

As the country exits the pandemic, institutions are looking to cut costs and scale up to invest in digital services.

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How EU antitrust investigation could pressure Apple’s payment rails

Payments Source

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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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Wellet launches card reader app for smartphones

The Paypers

The Germany-based startup Wellet has announced launching an app that converts Android smartphones into a card reader to process payments.

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Why the Fed should reengineer its monetary policy

American Banker

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FedEx, Adobe to integrate eommerce sales, service platforms

The Paypers

FedEx and Adobe have announced they are teaming up in a deal aimed at helping retailers meet ecommerce demand and compete with industry giants by sharing data across digital sales and distribution networks.

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Why are complaints about credit bureaus soaring?

American Banker

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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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Solarisbank and Swisscom launch identification solution

The Paypers

The Germany-based banking-as-a-service platform Solarisbank has announced partnering with telecommunications provider Swisscom Trust Services to launch identification solution BankIdent.

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Illinois credit unions welcome lower deposit insurance fees

American Banker

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Korea enables savings banks to offer Open Banking services

The Paypers

Korea-based Financial Services Commission (FSC) has announced the availability of Open Banking services from savings banks from 29 April 2021, according to the official press release.

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Former Bank of the West employee banned from industry for loan fraud

American Banker

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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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IFC partners with Nigeria-based LAPO for microfinance expansion

The Paypers

The International Finance Corporation (IFC) has partnered with the Lift Above Poverty Organisation (LAPO) to help expand banking services to low-income populations in sub-Saharan Africa.

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Modernized transit fare systems brace for commuters' return

Payments Source

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18,000 stolen identities are added each month on the Genesis Market, Netcetera finds

The Paypers

18,000 stolen identities are being added each month on the Genesis Market, a new research from Netcetera finds.

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How five banks gang-tackled one nagging escrow problem

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.