September, 2021

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How the New Experience Economy Is Reshaping Insurance (Part 5 of 5)

Perficient

Harvard Business Review defines the New Experience Economy as the fourth evolution of economic value, which includes commodities, products, services, and now, experiences. It is at this point where the product is most differentiated and pricing most premium. In a commoditizing marketplace such as personal lines, a personal experience is an opportunity for carriers to differentiate themselves from one another and create value that the insured will reward with retention and share of wallet.

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How a long road trip made me a better leader

Accenture

This summer I did something extraordinary. I unplugged. Really unplugged. Over the course of nearly two months, my 11-year-old son Evan and I traveled over 11,000 miles from Charlotte, NC, to the Oregon coast and back hauling a vintage 1971 Airstream camper. No, I’m not unemployed or transitioning between jobs. I lead a major business unit…. The post How a long road trip made me a better leader appeared first on Accenture Banking Blog.

Oregon 416
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Augmented Chat: The Benefits of Personal Service in Digital Contexts

Jack Henry

Heidi Kassab, CEO of Cornerstone Community Financial (CCF) in Michigan, wasn’t thinking about a global pandemic when she decided to implement a secure, augmented chat solution. In fact, she wasn’t sure why her digital banking provider was so focused on building the new technology back in 2018. “[Ben Metz] told me about this new plan, and I just looked at him and said, ‘Are you crazy?

Michigan 179
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Discover the top themes in the financial services industry

Cisco

Here at Cisco we strive to align our strategy, content, and offerings to the top trends happening in the industry. To help us do this effectively, we designed something called the Portfolio Explorer. The Portfolio Explorer divides each industry into various themes and use cases that are revisited and updated each year by our industry experts. We just finished our updates for this fiscal year, and financial services saw a substantial overhaul.

Industry 146
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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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Winners announced for Bank Customer Experience Awards

ATM Marketplace

The winners of the Bank Customer Experience Awards were officially announced at the awards show during the Bank Customer Experience Summit, held in Chicago from Sept. 13 to 15. These awards honor innovators in the financial industry that deliver innovative customer experiences.

More Trending

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Central banks and history: a troubled relationship

BankUnderground

Barry Eichengreen. The Bank of England co-organised a ‘ History and Policy Making Conference ‘ in late 2020. This guest post by Barry Eichengreen, Professor of Economics and Political Science at the University of California Berkley, is based on material included in his keynote address at the conference. Learning from history is hard. At central banks, it can be hard to draw policymakers’ attention to historical evidence.

Policies 107
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Why achieving alignment can supercharge banking cloud transformations

Accenture

As cloud mastery becomes a necessity to compete in today’s financial services industry, organizations are looking to accelerate their cloud transformation journeys. We’ve found that focusing on “the Three As”—alignment, ability, and adoption—will accelerate an organization’s realization of the benefits of migrating to the cloud. Today we’re going to look at alignment, which is the….

Industry 395
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Fintech in a Flash: 3 Important Reasons You Can’t Postpone Payments Reinvention

Jack Henry

Financial services is one of the most technology-dependent industries. And today the actual business of banking is being reinvented with technologies we hadn’t even imagined just a few years ago – apps and APIs, machine learning and AI, chatbots, robotic process automation, cloud computing, and others. As with all shiny new things, there is spirited debate if they are noise or solutions to real industry challenges.

Fintech 158
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‘Developers are the new bankers’: Wells Fargo analysts predict wave of job cuts

BankInovation

The era of bankers dominating banking is over as software developers rise — and a record wave of job cuts will soon sweep the industry. That’s according to Wells Fargo & Co. analysts led by Mike Mayo, who estimated that the technology improvements and automation these developers bring will allow the industry to cut 100,000 […].

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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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Hatchet ATM attack reveals importance of security

ATM Marketplace

On Aug. 15, a man in Manhattan simply withdrawing cash was attacked by another man with a hatchet. This event reveals the importance of using innovative security solutions to keep guests safe.

Security 118
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European banks storing €20bn a year in tax havens

TheGuardian

Barclays and HSBC among banks booking money equivalent to 14% of annual profits in offshore entities Leading European banks are booking around €20bn (£17bn) a year – equivalent to 14% of their total profits – in tax havens, with Barclays, HSBC and NatWest Group among those enjoying the lowest tax rates, according to a new report. The figures emerge from an analysis, conducted by the EU Tax Observatory, of 36 big banks required to publicly report country-by-country data on their activities.

Taxes 101
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Can sectoral supply shocks have aggregate demand consequences?

BankUnderground

Ambrogio Cesa-Bianchi and Andrea Ferrero. Restrictions on activity to curb the spread of Covid-19 led to a shutdown of specific parts of the economy. These lockdown measures can be thought of as a shock that suddenly decreases the supply of affected sectors, which lowers output and increases their price. Guerrieri et al (2020) propose a theoretical model of ‘Keynesian supply shocks’ where a sectoral supply shock triggers knock-on effects on demand in other sectors which, if strong en

Policies 107
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How intelligent prospecting will grow commercial banking

Accenture

When I started as a commercial banking relationship manager (RM) in the early ‘90s, a big part of my job was prospecting for new customers. This was an era when public information on privately held, mid-sized companies was extremely limited. The filings book I used to search for information—a thick paperback known as the Uniform…. The post How intelligent prospecting will grow commercial banking appeared first on Accenture Banking Blog.

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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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Fintech in a Flash: Are Real-Time Payments a Disruption or an Opportunity?

Jack Henry

Real-time payments are the most consequential development in the payments industry in decades. Innovative fintechs and big techs anticipated the demand for instant payments and focused on developing solutions that modernize and expedite consumer and commercial payments.

Fintech 158
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Listen: Bank overtakes Facebook in hackers’ playbook

BankInovation

Facebook for years may have topped cybersecurity firm Vade’s “Phishers’ Favorites,” a report of the most impersonated brands in phishing attacks, but the $2 trillion Credit Agricole bank recently edged out the social media giant with 17,755 unique phishing URLs. Facebook’s topple from the No. 1 spot was a surprise, Adrien Gendre, chief product officer […].

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80+ Companies Shaping The Blockchain Landscape

CB Insights

Blockchain companies raised more venture capital and private equity funding in H1’21 than any full year in history. The space is rapidly evolving as startups tackle a wide range of challenges in financial services and other industries. For example, online exchanges are making cryptocurrency trading and investing more accessible to consumers. Meanwhile, non-fungible tokens ( NFTs ) are making strides toward becoming mainstream. download our best of blockchain research.

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Evergrande: will it collapse and what would happen if it did?

TheGuardian

If Chinese property company Evergrande sinks under its $300bn debt its failure would resound across the global economy Evergrande Real Estate – or Heng Da Group in Chinese – owns more than 1,300 building projects in more than 280 cities across China. Continue reading.

Groups 100
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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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As bitcoin soars, ATMs make purchasing it easier

ATM Marketplace

As bitcoin soars in value, so too do opportunities for Bitcoin ATMs.

ATM 138
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Purpose-driven banking in action: a powerful example

Accenture

For banks, embracing purpose and the financial wellbeing of their customers is more than good PR. As Mohamed Khalil from the Commonwealth Bank of Australia explained during his talk at Sibos in 2020, it can be a powerful way to grow the business. “We discovered that improving wellbeing by 1% correlated to a risk adjusted…. The post Purpose-driven banking in action: a powerful example appeared first on Accenture Banking Blog.

Examples 383
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Beyond Texting – Augmented Chat for Banks and Credit Unions

Jack Henry

Text messaging is one of the most popular ways for users to reach friends and family. With its immediacy and simplicity, it seems like an obvious way for banks and credit unions to send alerts, updates, and more. And yet, text messaging has relatively few viable use cases in financial services today. Instead, authenticated, augmented chat has taken center stage as a way for institutions to connect with accountholders quickly and easily.

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United Credit Union (IL) Offers 3-Month CD Special

BankDeals

United Credit Union (Cook County, IL) has added a very competitive 3-month CD Special to its product line. $500 minimum deposit of new/existing money.

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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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Fintech Funding Trends In Europe

CB Insights

In 2021 so far, fintech companies in Europe have already eclipsed 2020’s full-year funding totals. Our Europe-based fintech funding update digs into the deals driving funding activity across the continent and looks at key trends across sectors including payments, banking, insurance, services for small- and medium-sized businesses (SMBs), and more. get the full report.

Trends 88
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‘Eerie silence’ as Evergrande misses payment deadline

TheGuardian

As debt-laden Chinese property giant enters 30-day grace period, officials look to limit unrest and job losses The embattled Chinese property developer Evergrande is inching closer to the potential default that investors fear, after missing an interest payment deadline. The company, which has total debts of about $305bn (£222bn), has run short of cash and investors are worried a collapse could pose systemic risks to China’s financial system and reverberate around the world.

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JPMorgan Chase to open bank in UK

The Paypers

JPMorgan Chase has announced it will open its first overseas retail bank, with the launch of a digital-only lender that aims to upend the UK banking market.

Retail 93
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Can regulators keep pace with fintech innovation?

American Banker

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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.