August, 2021

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Data Is the Foundation…for Everything in Insurance (Part 4 of 5)

Perficient

Data fuels the engine of the digital economy. Connected experiences, in the context of the customer relationship, are driven by a robust data set that confidently presents integrated, diverse data to enable actionable insights that can be automated across the customer’s journey. Internally, data creates the foundation for increased analytic application of fraud detection, at-risk customer behavior, and improved cross-functional process management.

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Delight customers with easy and invisible payment experiences

Accenture

In early 2020, when the COVID-19 pandemic shut down many everyday services, people discovered new ways of doing things—like grooming their pets or styling their own hair. Doing these things involved mainly online purchases. The way they made their regular purchases changed too—for example, getting their groceries delivered to their door or picking them up curbside.

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What’s a Digital Lending Ecosystem and Why Should Banks Care?

Gonzobanker

Financial institutions aiming for long-term success need to revamp the way they think about digital transformation. There’s a great line in the movie The Princess Bride: “You keep using that word. I do not think it means what you think it means.”. “Inconceivable” is the word the movie character was referring to, but if we were to apply this quote to the banking industry then the word that is constantly being used is “digital transformation” — and based on Cornerstone Advisors’ research, most ban

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Now is the Time to Diversify Revenue Generation

Jack Henry

As many of you are aware, there is a proposal in Congress to cap debit interchange, and it’s likely to pass into law. For institutions with less than $10B in assets, the cap could eliminate 25% to 35% of interchange income. While it’s always a good idea to have multiple healthy income streams, this unfavorable outlook for interchange makes it especially relevant now.

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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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Bolstering Digital Transformation in Banking

Cisco

IDC Uncovers the latest trends and advice for financial services. The events of 2020 will leave a lasting impact on the financial sector as institutions accelerated the shift to a digital environment, both for customers and their employees. Digital transformation has raised the bar for financial services , dictating seamless, personalized interactions during branch visits.

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How to tap marketing to boost your ATM presence

ATM Marketplace

When it comes to ATMs, most banks are fairly good at branding. Most post large signs and symbols that clearly communicate to customers that this is their ATMs. But when it comes to marketing, many banks fall behind. Here's how to catch up.

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Preparation: The Overlooked Key to CRA Success

ABA Community Banking

The investment of time and effort on the front end of a CRA cycle can yield notable benefits. The post Preparation: The Overlooked Key to CRA Success appeared first on ABA Banking Journal.

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Do large and small banks need different prudential rules?

BankUnderground

Austen Saunders and Matthew Willison. Banks come in different shapes and sizes. Do prudential regulations that work well for big banks work as well for small ones? To help us find out, we measure the effectiveness of some key regulatory ratios as predictors of bank failure. We do so using ‘receiver operating characteristic’ – or ‘ROC’ – analysis of simple threshold rules.

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Boost Your Bottom Line by Changing the Conversation on CX

Jack Henry

Banks and credit unions have known for years that experience matters. We know that customers and members, particularly mobile-first digital natives like Millennials and Gen Z, expect the same speed and ease-of-use they experience with Instagram and Uber from their financial institutions. In the modern world, a digital offering can’t be viewed as simply a checklist item or a means to an end.

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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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Robinhood Acquired This Company For Its Shareholder Communications Platform

CB Insights

Robinhood , a financial services company, has acquired Say Technologies , a shareholder communication platform, for $140M. WHO ARE THE PARTIES TO THE DEAL? Say Technologies: California-based Say is a technological platform that gives shareholders access to their full ownership stake. It crowdsources retail investor queries and allows investors to communicate with firms that they own during annual meetings, earnings calls, and other events.

Company 101
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Backbase partners with eToro

The Paypers

Engagement Banking fintech Backbase has partnered with multi-asset investment platform eToro to enhance eToro’s digital onboarding capabilities and back-end compliance infrastructure.

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Finalists announced for Bank Customer Experience Summit Awards

ATM Marketplace

The finalists have officially been announced for the Bank Customer Experience Summit Awards, which will be held in Chicago during the summit, which will run from Sept. 13 to 15.

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Bank Partnerships Improve America’s Financial Education Report Card

ABA Community Banking

As kids head back to school, banks across the United States will deploy their resources, reach and expertise to provide the next generation, particularly those in underserved communities, with the financial education they need. The post Bank Partnerships Improve America’s Financial Education Report Card appeared first on ABA Banking Journal.

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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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Afghanistan Bank Governor on Economic Prospects

Bankelele

Ajmal Ahmady, the acting Governor of the Central Bank of Afghanistan, Da Afghanistan Bank (DAB) in the ousted government has continued to post a series of tweets about events in the country. He answered questions about the country’s reserves, future relations with the IMF, relations with the US, management of the budget and deficit and […].

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Harnessing The Power of the Human Connection

Jack Henry

The Human Touch. It’s just another weekday at Mazama’s. As I stand in line, I watch as a woman gracefully moves from one task to another with ease. She makes eye contact and greets every person who comes through the door. She often knows what the person wants before they even ask, as if she reads minds. She asks about your kids by name and asks about your recent vacation.

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This Nubank–Backed Indian Neobank Raised $71M To Hire Talent

CB Insights

Jupiter, a neobanking startup, has raised $71M in a Series B. The round drew participation from NuBank, Beenext, Sequoia Capital India, Greyhound Capital, Tanglin Venture Partners, and Global Founders Capital, among others. How’s the company performing? India-based Jupiter has built a neobank for Indian consumers and created a number of products, including a savings account, with features aimed at making money management easier.

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Facebook digital wallet Novi is ready for market launch

The Paypers

Facebook has announced it will launch the Novi digital wallet tied to the Diem blockchain-based payment system, having received the necessary regulatory clearances.

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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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Non-traditional branches: A new approach for a changing world

ATM Marketplace

The world has changed and with it consumer banking habits. How do financial institutions keep up with these changes while still offering their customers exceptional branch experiences?

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Core Conversions Don’t Have to Be Chaos

Image Works Direct

Many core conversions were put on hold during the pandemic, but those seem to be moving full speed ahead now. If your financial institution is facing a conversion, you may feel overwhelmed. After all, a lot goes into a successful core conversion, and along the way, there can be many challenges and obstacles.

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Dalberg on Kenya’s Digital Economy

Bankelele

How deep is the digital economy in Kenya? The post Dalberg on Kenya’s Digital Economy appeared first on Bankelele.

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3 Ways Deposit Escrow Management Software Can Help You Drive Growth

Jack Henry

Constant economic changes, evolving customer expectations, emerging technology, and other market challenges have forced banks to be even more innovative in their strategies to achieve business goals. Building on – or expanding upon – commercial services like escrow management is often an untapped strategy. Many banks are still relying on siloed data systems and manual processes (including labor-intensive, error-prone spreadsheets) to track and add sub-accounts.

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Addressing Top Enterprise Challenges in Generative AI with DataRobot

The buzz around generative AI shows no sign of abating in the foreseeable future. Enterprise interest in the technology is high, and the market is expected to gain momentum as organizations move from prototypes to actual project deployments. Ultimately, the market will demand an extensive ecosystem, and tools will need to streamline data and model utilization and management across multiple environments.

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The Future According To SoftBank

CB Insights

SoftBank Group , headed up by Masayoshi Son, has made enormous and varied bets on the future. . It has ratcheted up its investment activity since 2017, when it launched its first Vision Fund, which sized up at nearly $100B — the largest tech-focused investment fund ever. In 2019, the firm launched a $5B Latin American Fund, as well as a second Vision Fund, which has since grown in size to roughly $30B.

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Affärsänglarna selects Open Banking APIs from to Nordigen democratise startup investment

The Paypers

Business angels network Affärsänglarna has teamed up with European Open Banking company Nordigen to connect with investors through the company’s free European Open Banking API.

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Credit union uses ITM to handle COVID-19

ATM Marketplace

Banks have struggled to keep branches operational during COVID-19. Credit unions in particular, had major issues adjusting since many unions thrive on that in-person, family environment. However, for one credit union, ITMs helped keep that personal touch alive.

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U.S. banks give embedded finance a whirl. Will it catch on?

American Banker

Fintech 101
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Need Curated Pre-foreclosure Lists to Generate New Real Estate Leads? Trellis Has the Data!

Trellis is a state trial court research and analytics platform that provides Real Estate Professionals (Buyers, Foreclosure, Loan Modification, etc.) with LEADS on Pre-Foreclosures, Lis Pendes, Distressed Assets and more — to help uncover **new** opportunities and grow their business. The process is quick and easy — and all in real time. Trellis will supply you with a link to the relevant dockets, a Leads sheet and access to its UI where applicable.