October, 2021

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Perficient Listed in Forrester Now Tech: Robotic Process Automation Services, Q4 2021

Perficient

Robotic Process Automation (RPA) is the use of software to automate high volume and repetitive tasks that previously required a human to perform. RPA enables the configuration of a “bot” or “digital workers” to capture and interpret tasks on existing applications such as processing transactions, transforming or manipulating data, triggering responses, and integrating with other digital systems.

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How banks can break the cycle of IT transformation fatigue

Accenture

For many middle market banks, IT transformation is constant. Ever since the Agile Manifesto 20 years ago, it’s like we’ve been in a race that never reaches the finish line. Banks implement agile teams. They invest to become more digital. They scale their transformation. Finally, they are closer than ever to enterprise agility. Or so…. The post How banks can break the cycle of IT transformation fatigue appeared first on Accenture Banking Blog.

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Rebeca Romero Rainey: Developing innovation strategy

Independent Banker

Photo by Robert Severi. Community banks are independent institutions fueled by the needs of their individual communities, so what constitutes innovation will look and feel different for every bank. As the popular saying goes, “Creativity is intelligence having fun”—and the same can be said for innovation. As community banks seek to evolve, we bring together the best elements of wise business strategy and out-of-the-box thinking to invent new solutions for a better customer experience.

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What Do the FFIEC IT Handbook Updates Really Mean?

Jack Henry

On June 30, 2021, the FFIEC issued a new booklet in the FFIEC Information Technology Handbook (IT Handbook) series entitled, “Architecture, Infrastructure, and Operations” (AIO). Great, you might say … translation, please?

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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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How to improve banking customer experience with right mix of digital tools, personal touch

ATM Marketplace

Even with digital tools, one of the most important parts of any client experience is complementing online offerings with a personal touch. As financial institutions look to enhance their client care approach, there are simple strategies to ensure you are implementing the right mix of tools to improve the customer experience.

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5 Key Takeaways From Our “Optimization Strategies To Improve Collections” Webinar

Perficient

Financial institutions must prioritize instilling empathy when interacting with their clients. It’s more critical now than ever because of the economic hardships many are facing due to COVID’s impact. In our latest webinar, “Optimization Strategies to Improve Collections,” Scott Albahary, Perficient’s financial services chief strategist, and Byron Gifford, Perficient’s collection transformations lead, shared tangible solutions to the challenges collections and recoveries groups face.

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Making Banking Easier with Intelligent Branch

Cisco

It’s a time of transition and digital transformation in financial services. Whether a retail bank, wealth management firm, credit union, or insurance company with a banking segment, the financial industry is facing dramatic changes on how best to accommodate customers, and what is the appropriate mix between brick-and-mortar bank branches, remote work, self-service ATMs, and digital platforms.

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Podcast: How the IRS Reporting Proposal Would Affect Banks and Customers

ABA Community Banking

Citizens Bank of Edmond CEO Jill Castilla talks about the effects the Biden administration's controversial proposal for a financial account reporting regime would have on a bank like hers. The post Podcast: How the IRS Reporting Proposal Would Affect Banks and Customers appeared first on ABA Banking Journal.

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Your Top 3 Loan Growth Challenges – Solved

Jack Henry

Eighteen months ago, few could have imagined the changes to our world that would occur in 2020 and 2021. The pandemic brought the most significant challenge the global economy since the great recession. This roller coaster ride has produced challenges and left bank and credit union executives wondering how to respond. What approach would meet their goals for borrower assistance, revenue generation, portfolio growth, and credit quality in the years ahead?

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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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Bank Customer Experience Summit closing keynote addresses how banks can succeed in a digital banking world

ATM Marketplace

One major challenge for banks is the rise of digital challengers and neobanks, which have disrupted the banking world and business models. The closing keynote at the Bank Customer Experience Summit addressed how traditional banks can win in this new world.

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Gender imbalance in economics: what next?

BankUnderground

Misa Tanaka. This post by Misa Tanaka is based on her talk at the Royal Economic Society’s webinar on Gender Imbalance in UK Economics which took place on 6 October. She is Head of Research at the Bank of England and a member of the Royal Economic Society’s Women’s Committee. . The latest report on the Gender Imbalance in UK Economics by the Royal Economic Society (RES) Women’s Committee makes a depressing read.

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Sunak to cut tax on banks to keep City competitive, say reports

TheGuardian

Chancellor said to be planning to slash corporation tax surcharge from 8% to 3% from April 2023 Rishi Sunak is preparing to announce a tax cut for Britain’s biggest banks at next week’s budget to maintain the competitiveness of the City of London after Brexit, according to reports, despite plans to raise taxes on workers. Ahead of the setpiece budget and spending review next week, the Financial Times said the chancellor planned to slash the corporation tax surcharge imposed on the banking indust

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Merchants’ Strong Earnings Allows for Dividend Declarations?

MerhantsBanks

Merchants Financial Group, Inc. (MFGI) has announced financial performance results for the third quarter and two forthcoming dividend payments to shareholders, according to MFGI President & CEO Gregory M. Evans. As a result of strong earnings performance, during its October meeting the MFGI Board of Directors authorized an increase in the semiannual dividend payment from […].

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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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Want to build loyalty and reduce customer churn? Start with a seamless customer Experience

BankInovation

Long gone are the days of free toasters for opening an account. Or promoting online banking as a unique offering. Today, banks differentiate themselves on customer service, which in our digital-first world now means OnScreen customer experiences. Digital Customer Service (DCS) has become a strategic priority for banks seeking to deliver positive customer experiences, build […].

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Why Every Month Should Be Preparedness & Cybersecurity Month

Jack Henry

Autumn is a time of transition from those hot summer days (where it doesn’t get dark until around 10:00 p.m. where I live) to cool mornings with temperatures in the 50s and sunsets before dinnertime. Autumn is a time when trees shed their leaves and we prepare for the more sinister season of winter. Autumn is also a time to pay special attention to security, with National Preparedness Month (September) and Cybersecurity Awareness Month (October).

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Reviewing Bitcoin Depot ATMs

ATM Marketplace

In the next entry on our series on Bitcoin ATMs, we will review Bitcoin Depot's Bitcoin ATM, which can be found at Circle K locations in the U.S.

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Challenges to monetary policy: lessons from Medieval Europe

BankUnderground

Nathan Sussman. The Bank of England co-organised a ‘ History and Policy Making Conference ‘ in late 2020. This guest post by Nathan Sussman, Professor of International Economics at the Graduate Institute of Geneva, is based on material included in his conference presentation. The monetary system is going through significant changes: the rise of cryptocurrencies, negative interest rates, and the decline in the role of traditional banks as intermediaries.

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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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Why are UK banks making so much money and why are their taxes being cut?

TheGuardian

Bumper profits come as other sectors do not seem to be reaping the same benefits HSBC profits rise 74% as economy rebounds from Covid crisis UK banks have so far reported bumper profit rises in the third quarter, which they say reflects improving economic forecasts. Other sectors do not seem to be reaping the same benefits, particularly in light of the uncertainty linked to the Covid crisis.

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State Of Fintech Q3’21 Report

CB Insights

Following a record-breaking Q2, global fintech private market deal activity remained elevated in Q3’21. . In our State of Fintech Q3’21 Report, we dive into global investment trends to spotlight takeaways including: . The second-highest quarter on record for fintech financing, up 147% YoY. Top equity deals of the quarter, including 3 of the top 5 raised outside the US.

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Movers and Shakers: Canadian banks make big executive changes

BankInovation

This month saw a number of leadership changes at top Canadian banks, spurred in part by the retirements of long-tenured executives. Among those, Toronto-based TD Bank Group on Thursday announced a succession of changes to its senior executive team. Michael Rhodes, group head of innovation, technology and shared services will take over in January 2022 […].

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How the 6 Steps of Ecosystem Management Can Drive Revenue and Loan Growth

Jack Henry

The events of the past year have reinforced the notion that healthy loan portfolios feed much more than the financial institution and its shareholders. They feed the communities served by those institutions. They nurture the nationwide economy. Most importantly, they help form the conditions that ensure future economic growth.

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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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Deloitte shares report on CBDCs ahead of Federal Reserve's CBDC review

The Paypers

Deloitte has launched a report on central bank digital currencies , in the context of the Federal Reserve preparing to launch a review of whether to implement its own digital currency soon.

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Banks urge White House to ditch IRS reporting plan

American Banker

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Azor review – eerie conspiracy thriller about the complacency of the super-rich

TheGuardian

Andreas Fontana’s debut feature is an unnervingly subtle drama about a Swiss private banker visiting clients in Argentina during the period of the military junta and ‘disappearances’ Pure evil is all around in this unnervingly subtle, sophisticated movie; an eerie oppression in the air. Andreas Fontana is a Swiss director making his feature debut with this conspiracy drama-thriller, shot with a kind of desiccated blankness, about the occult world of super-wealth and things not to be talked about

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Gradually, Then Suddenly: The Sequel – CB Insights CEO Anand Sanwal On The Future Of Financial Services

CB Insights

Tech is eating every industry. It was happening gradually. Now, it’s happening suddenly. Especially across financial services. In his 2021 Future Of Fintech keynote presentation entitled “Gradually, Then Suddenly: The Sequel,” Anand Sanwal, CEO and co-founder of CB Insights, covers the two reasons why the dramatic change is occurring: An absolute flood of fintech innovation capital.

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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.