Sat.Sep 25, 2021 - Fri.Oct 01, 2021

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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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The banks serving active duty personnel

Independent Banker

Under Larry Wilson’s leadership, First Arkansas Bank and Trust’s branch on the Little Rock Air Force Base was named the 2020 Air Force Bank of the Year. Photo by: Dero Sanford. Community banks operate on a majority of the country’s military installations. Given their selfless service, active-duty personnel rely on community banks that understand their unique needs.

Arkansas 168
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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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National Defense Authorization Act amends SCRA to restrict use of arbitration agreements and waivers of SCRA protections

CFPB Monitor

In addition to amendments to the Fair Credit Reporting Act dealing with the reporting of adverse information on servicemembers by consumer reporting agencies, the National Defense Authorization Act (NDAA) as passed by the House and now headed to the Senate includes amendments to the Servicemembers Civil Relief Act that restrict the use of arbitration agreements and waivers of SCRA protections.

National 147
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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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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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Lindsay LaNore: Creative teambuilding

Independent Banker

By Lindsay LaNore, ICBA. Sometimes teambuilding gets a bad rap, and busy schedules can keep it from reaching the top of the priority list, but it is something every leader should have in their repertoire. Teambuilding promotes employee engagement by improving group dynamics and strengthening bonds. It can help with morale and motivation, improve mental health and boost confidence.

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3 bankers share insights on banking hot topics

ATM Marketplace

When it comes to banking, there's no shortage of hot topics and pressing issues. In order to provide insight into these issues, the Bank Customer Experience Summit, held in Chicago from Sept. 13 to 15 had a panel of three bankers to share their opinions.

Chicago 94
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New document AI helps mortgage lenders work smarter and faster

Accenture

In the mortgage industry, early adopters of document automation technologies were underwhelmed with the results of their investment. Today’s advanced AI solutions are changing that perception. They have little in common with early optical character recognition (OCR), which was able to classify only very simple and structured documents. The latest advancements in AI can cut….

Industry 235
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Virgin Money to close 31 branches across Scotland and north of England

TheGuardian

Move to cut one in five outlets means bank has more than halved number of branches since 2018 Virgin Money has announced it will close 31 branches – almost all in Scotland and the north of England – in the latest stage of the UK banking sector’s retreat from the high street. The bank said it expected to make 112 people redundant because of the closures after the coronavirus pandemic accelerated the shift to online and mobile app-based banking, a move that has rapidly reduced the profitability of

Mobile 99
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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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Rebeca Romero Rainey: Mitigating cybercrime

Independent Banker

Photo by Robert Severi. We know that despite the frights cyberattacks bring, you continue to flourish by safeguarding the communities you serve. It strikes me as interesting that both Halloween and Cybersecurity Awareness Month fall in October. After all, the rapid rise in fraud during the pandemic would spook anyone and definitely keeps community bankers up at night, which is why meaningful monitoring and action continue to be necessary.

Resources 131
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Digital banking solutions providers ranked in Aite-Novarica Group report

BankInovation

Digital banking solutions provider Backbase was ranked best-in-class in a new evaluation of eight banking point solutions vendors. Aite-Novarica Group's assessment taps the Aite Matrix, which looked at elements including vendor stability, client strength, client services and product features to determine vendors' overall competitive position. Other banking point solutions vendors in the evaluation ?

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Clearpath Federal Credit Union Offers Competitive 5-Year CD In SoCal

BankDeals

Clearpath Federal Credit Union (easy membership in Southern CA) 60-month Savings Certificate offers competitive tiered rates, a one-time bump, and one additional deposit.

CA 98
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UK care homes face funding crisis as banks refuse loans

TheGuardian

Providers say lenders have ‘no appetite’ for industry battered by Covid and staff crisis Care homes are facing a credit crunch with banks refusing to lend money or provide new services for fear that the care sector is about to crumble, senior care leaders have warned. A survey of care providers in Hampshire found that 20% had been told their bank was concerned about their long-term viability.

Survey 97
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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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Ponce Bank serves the underserved

Independent Banker

Bronx activists and business leaders founded Ponce Bank in 1960. Photo courtesy Ponce Bank. Ponce Bank has brought banking services to minority neighborhoods in the Bronx and greater New York City for more than six decades with a clear focus on community investment. By Roshan McArthur. Ponce Bank was founded in the South Bronx in 1960, a time when many financial institutions were packing up to leave.

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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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As bitcoin soars, ATMs make purchasing it easier

ATM Marketplace

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

ATM 136
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Chopra confirmed as CFPB Director

CFPB Monitor

By a 50-48 party line vote, the U.S. Senate confirmed Rohit Chopra yesterday as CFPB Director. Mr. Chopra’s confirmation clears the way for the White House to move forward on President Biden’s nomination of Alvaro Bedoya to fill Mr. Chopra’s seat as FTC Commissioner and on the President’s nomination of Acting CFPB Director Dave Uejio to serve as Assistant Secretary for Fair Housing and Equal Opportunity at the Department of Housing and Urban Development.

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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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Robert Fisher: Education is the foundation

Independent Banker

Photo by Heather Esposito. Educated customers form stronger relationships with their community banks. They are more likely to repay loans, live within their means and maintain higher balances. When I first came into community banking, I quickly learned that our jobs are as much about education as they are about finance. While community bankers have deep knowledge of financial topics, most people don’t have that background.

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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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How To Maintain A Low Credit Utilisation Ratio

BankBazaar

Ever wondered how your credit utilisation ratio can affect your financial profile? Read this article to learn all about it and more. In the world of Credit Cards , credit limit and credit utilisation ratio are two terms that are commonly used. Heard of them, right? The big question, however, is why do these two terms matter to Credit Card users? Well, if you’ve been wondering about this, then we’ve got the answers for you.

How To 78
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National Defense Authorization Act amends FCRA to restrict reporting of adverse information on servicemembers

CFPB Monitor

The National Defense Authorization Act as passed by the House and now headed to the Senate includes amendments to the Fair Credit Reporting Act dealing with the reporting of adverse information on servicemembers by consumer reporting agencies. The amendments add the defined terms “uniformed consumer” and “deployed uniformed consumer” to the FCRA. A “uniformed consumer” is defined as a consumer who is a member of the uniformed services (i.e.

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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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Does your bank suffer from Core Technophobia?

Independent Banker

The thought of learning a new core system, making a significant investment, and undergoing another complex conversion process are enough to make someone sick, and we’re not talking about the common cold either. When bankers are not ready or in the right mindset to bring on a new core system, they can start developing Core Technophobia. It’s important to recognize the signs and symptoms and learn how to treat and prevent this ailment before a bank starts experiencing undesired problems and compli

eBook 103
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Funding Wrap: Global investments marked for digital growth

BankInovation

The global economy was represented in fintech investments with international investors spreading money to startups aimed at bringing the world into the digital economy, boosting efficiencies and automation. Aspire Bank In the biggest funding news this week, Singapore-based Aspire Bank raised a total of $158 million — $58 million in a series B funding round […].

Fintech 98
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Credit Union Industry Stats and Performance Trends: Q2 2021

SWBC's LenderHub

When it comes to understanding the auto lending industry, I’m a numbers guy. Data weaves the story that allows me to keep my pulse on the market and make informed business decisions. One of my go-to resources is CU Data’s quarterly statistics and trends report. In this blog post, I’d like to share some highlights and notable KPIs from the Q2 2021 report.

Trends 78
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FTC Chair Khan outlines priorities in memo to FTC Commissioners and FTC staff

CFPB Monitor

FTC Chair Lina Khan sent a memo this week to the other FTC Commissioners and FTC staff outlining her “vision and priorities” for the agency. The key statements in her memo relevant for consumer financial services are: Use of authorities. In light of the U.S.

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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.