Wed.Feb 24, 2021

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[Podcast] What If? So What? Episode 4: What if Every Brand Went Direct to Consumer?

Perficient

In a world where retail has changed and consumers remain at home, how do brands reimagine the task of getting products to customers? In Episode 4 of the What If? So What? podcast , we interview Jon Bostock, best-selling author, innovator, co-founder and CEO of Truman’s and learn how brands that innovate will win in a rapidly changing digital-first economy.

Branding 441
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Hone Your Edge: Why Digital Fluency is Key to Banking Performance

Accenture

Which musical artist has had the longest-running streak at the top of the Billboard Hot 100 list? If you guessed The Beatles, Madonna or Prince, guess again. The answer: Lil Nas X. The singer-rapper holds the record with “Old Town Road.” If you’ve heard the song, you’ll curse me for getting it stuck in your….

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Red Hat OpenShift on IBM Power Systems Virtual Server

Perficient

Red Hat’s OpenShift Container Platform is now supported on IBM Power Systems Virtual Server, expanding the cloud capabilities of your Power Systems infrastructure to deliver a resilient and secure hybrid cloud platform. OpenShift leverages the enterprise scale and security of Power Systems Virtual Server and quickly creates clusters with automation.

System 436
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More than half of Square’s revenue now comes from bitcoin trading

Payments Source

The fintech that gave life to the mobile point of sale market is seeing that business overshadowed by the ever-rising popularity of cryptocurrency.

Bitcoin 163
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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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Data Is Key Across the Sales Enablement Platform

Perficient

My previous blog analyzed how technology and the right team can improve your sales enablement program. This blog explores the benefits that data can bring to your sales enablement program. In addition to the technology and having the right teams involved, data – where and how it is sourced, stored, stewarded, refreshed, and enriched – is critical. Here are the key data-oriented success criteria considerations: Data Acquisition/Sourcing.

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Vertex O Series Training Resources

Perficient

Do you use Vertex O Series and are looking for more information and guidance than what is included in the Vertex O Series help or documentation? You may be in luck! In addition to formal training classes, Vertex has training videos available on its support portal and its training portal. There is a caveat. To be able to take advantage of the training, you need access to the Vertex support portal.

Training 309
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Global payment specifications matter more than ever

Payments Source

The shift from cash has boosted digital and called attention to the importance of standards, says EMVCo's Brian Byrne.

Payments 122
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Tax abuse and money laundering is trapping billions in poverty, says UN

TheGuardian

Report claims up to 10% of the world’s wealth could be hidden offshore and calls for global banking reform Billions of people around the world are being trapped in poverty by systemic tax abuses, corruption and money laundering, according to a UN commission report calling for a global crackdown. The UN panel on financial integrity for sustainable development urged governments to overhaul tax rules and the banking system to help end poverty and tackle the climate emergency.

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Best Buy tests smaller shopping areas to focus on e-commerce

Payments Source

Best Buy is expanding its test of a new store format that reduces the space for customers to browse by nearly half to focus more on getting digital orders out the door, according to people familiar with the move.

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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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Fed restores some services after outage on ‘operational error’

BankInovation

The Federal Reserve began restoring some services Wednesday afternoon following widespread outages across several key payment systems operated by the U.S. central bank. “A Federal Reserve operational error resulted in disruption of service in several business lines,” Jim Strader, a spokesman for the Richmond Fed, said in an e-mailed statement. “We are restoring services and […].

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How the EU is catching up to the U.K. in open banking adoption

Payments Source

The U.K. got an earlier start on open banking implementations, prompting European merchants and fintechs to turn to payments-as-a-service providers for rapid deployment.

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New solution from Astra promises faster automated ACH transactions

BankInovation

A new development platform launched Tuesday claims to help banks and fintechs offer faster automated ACH transactions at less cost than building. The company, Astra, has an ACH API platform that targets fintechs and banks in the market to replace their legacy systems, CEO Gil Akos told Bank Automation News. ACH transactions are the electronic […].

Fintech 90
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New Finablr owners in merger talks with Bahraini payments firm

Payments Source

The UAE-Israeli consortium that acquired UAE Exchange is in merger talks with Bahrain’s BFC Group Holdings to create a Middle Eastern remittances and currency firm with more than 24 million customers in 30 countries.

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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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Royal Bank of Scotland to invest in further automation

BankInovation

Automation investments paid off so well for the Royal Bank of Scotland in 2020 that the U.K. bank plans to invest in additional automation, targeting gross savings of $423.1 million by 2023. Royal Bank of Scotland is owned by the $1.1 trillion NatWest Group. Group CEO Alison Rose said automation and digitalization drove revenue and […].

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McDonald’s partners with Sift to block rising fast-food fraud

Payments Source

Though the lower-ticket sales in fast food traditionally weren’t a large fraud magnet, that’s changed as fraud expanded to new channels during the pandemic.

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Banks redouble efforts to aid Black-owned businesses

American Banker

Several large and midsize banks are investing millions of dollars in Black-run banks, while four community banks have started a fund to make interest-free commercial loans in underserved communities.

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Fed restores some services after outage on ‘operational error’

Payments Source

The automated clearinghouse system and FedWire Funds are back up and running, but other services, including Check 21, are still offline.

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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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Lloyds profits plunge after £4.2bn put aside for Covid defaults

TheGuardian

Banking group becomes latest UK lender to resume dividend payments Coronavirus – latest updates See all our coronavirus coverage Profits at Lloyds Banking Group have plunged 72% after the bank was forced to put aside more than £4bn to protect itself from a potential jump in defaults linked to the Covid crisis. Lloyds, which also runs the Halifax and Bank of Scotland brands, reported pre-tax profits of £1.2bn for 2020, down from £4.4bn a year earlier.

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Fed investigating outage in interbank payment system

Payments Source

The Federal Reserve’s system for interbank payments went down Wednesday afternoon, according to a website for payment services operated by the U.S. central bank.

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4 ways credit unions can keep branches relevant

American Banker

As self-service banking offerings continue to gain ground, financial firms must evolve their brick-and-mortar facilities in order to better serve consumers.

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Open banking's not just for Europe anymore

Payments Source

APIs and the cloud can help financial institutions reach consumers who have become accustomed to digital, says Episode Six's John Mitchell.

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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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Will HSBC's patience on fate of U.S. retail unit pay off?

American Banker

The London company poured cold water on speculation a deal to divest its 152-branch network in the United States was imminent. But biding its time here while focusing on issues in other parts of its global operation could drive up the price in a seller’s M&A market.

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Capital One starting to raise credit limits in hunt for growth

Payments Source

Capital One Financial has begun to lift borrowing limits for certain customers as it seeks to restart growth in its sprawling credit card business.

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Fintechs can help banks meet CRA obligations

American Banker

Lost in the debate about whether to make fintechs comply with the Community Reinvestment Act is that many of them already partner with banks to make loans in low-income neighborhoods.

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Klarna said to raise up to $1 billion at $31 billion valuation

Payments Source

The fresh funding would recrown the Swedish company as Europe’s most valuable startup after the payments business Checkout.com was valued at $15 billion.

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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.