Sat.Oct 16, 2021 - Fri.Oct 22, 2021

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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.

Strategy 492
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Canada, time to expect an innovative lifestyle banking app

Accenture

The first mobile banking application hit the Canadian market over ten years ago. Since then, advancements have included an e-deposit and mobile business app, a remote deposit capture feature, a banking app on the Apple Watch, and more. Apps have become a part of our everyday lives, from fitness to shopping, social media and news.…. The post Canada, time to expect an innovative lifestyle banking app appeared first on Accenture Banking Blog.

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Waiting (Patiently?) for Interest Rates to Rise: 4 Growth Moves to Prepare for Fed Rate Hike

Abrigo

With a Fed Rate Hike Looming, Here's How to Position Your Bank or CU The timing of a rate hike by the Fed is uncertain, but credit unions and banks can act now to create increased earnings more quickly. You might also like this decision guide: "What Do I Do with All This Excess Money?" Options for Using Excess Liquidity DOWNLOAD . Takeaway 1 The economic recovery's uneven pathway has made it difficult for financial institutions to plan on the timing of a Fed rate hike. .

Lending 195
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Market Commentary: Week of October 18, 2021

SWBC's LenderHub

Last Week. Another wild week as we continue to live in “interesting times”. The Treasury yield curve steepening theme suddenly reversed course. Last week, 2s-30s flattened 20 basis points as the market began to price in inflationary pressures lasting for a period that is more than transitory. Both the front end and the belly of the curve were hit hard as more Fed tightening was priced in.

Marketing 148
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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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Fintech in a Flash: Why Is Revenue Under Siege on So Many Fronts?

Jack Henry

Most banks and credit unions are challenged to generate previous levels of revenue, much less meaningful increases, based on an array of industry-wide headwinds that are significantly impacting key revenue sources like interchange income, interest income, and non-interest income. The new and fierce competitive landscape is a fundamental contributor to these revenue challenges, with fintechs and big techs developing alternative solutions that disenfranchise banks and credit unions.

Fintech 125

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4 Ways Financial Institutions Can Get Buy-in for Their Latest Tech Investment

Abrigo

How to Get Buy-in When Implementing New Technology Achieving 100% adoption is attainable if financial institutions are willing to put the best change management practices in place. You might also like this whitepaper, on optimizing change management. DOWNLOAD. Takeaway 1 One of the most important pieces to garnering employee buy-in for new technology is communication.

Training 195
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Workers of the World, Unite.Again?

SWBC's LenderHub

The last few weeks have had some stunning developments with regard to the cost of labor figures, stunning in their quickness and severity. I have to admit, for many months, I bought into the whole transitory inflation argument. The one caveat I had was that inflation could morph into deep-seated corrosive inflation if labor shortages got acute enough to create demand-pull inflation for labor and empower our long beatdown labor unions to stand up.

Capital 147
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4 “Big Tech” Strategies Banks Need Today to Streamline Marketing Efforts

Banking Exchange

Major technical flaws were revealed because of the pandemic, and companies that couldn’t adapt became increasingly irrelevant to consumers The Economy Technology Lines of Business Financial Trends Tech Management Feature Feature3 Fintech.

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ATM podcast explores cloud, machine learning, innovative tech

ATM Marketplace

ATMs rapidly becoming more complex and innovative, especially as vendors integrate technologies such as cloud tools, machine learning, predictive analytics, remote monitoring and management and more. Manpreet Singh, chief product officer at Cloudexa, addressed these ATM innovations during today's episode of the ATM Marketplace podcast.

ATM 108
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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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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

Taxes 99
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Umpqua focuses on ‘human-digital’ banking strategy amid merger

BankInovation

Umpqua Bank is cultivating its "human-digital" strategy as it approaches a partnership with Tacoma, Wash.-based Columbia Bank that will boost its market share on the West Coast. "Our human-digital initiatives remain critical to our long-term strategy as our customers continue to engage with us through digital channels at an accelerated pace," Cort O'Haver, president and […].

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Popular Bank acquires equipment financing business to expand commercial offering.

PopularBank

Popular Bank, a subsidiary of Popular, Inc. (NASDAQ: BPOP) announced the acquisition of K2 Capital Group LLC (“K2”), a Minnesota-based equipment finance and leasing company. K2 has become a part of Popular Equipment Finance LLC, a wholly owned subsidiary of Popular Bank. Equipment financing further develops Popular Bank’s healthcare financing capabilities.

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Everything You Should Know About Personal Loan in Bangladesh-Read Before You Apply

FluentBanking

Sometimes we fail to save enough money for an emergency or any other reason. This sudden cash requirement can be managed through personal loan. Almost all the banks in our country is offering personal loan. But the eligility criteria is not same for all the banks. Basically you can take a loan for your upcoming wedding , purchasing a gadget or even in case of any emergency medical need.

Maine 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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Jellied eel canapés and venison: No 10 hosts biggest names in business

TheGuardian

Boris Johnson dines with Bill Gates, David Solomon and more to kick off global investment summit Boris Johnson will host 20 of the world’s most influential business leaders on Monday evening as he urges them to provide a “rocket boost” for “global Britain”, as the UK emerges from the coronavirus pandemic and life outside the EU. Among those sitting down for the power dinner with the prime minister in No 10 will be the Goldman Sachs boss, David Solomon; the JP Morgan chief executive, Jamie Dimon;

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Problems persist for BBVA customers after PNC’s great app purge

BankInovation

The CEO of PNC said on Friday’s earnings call that he was proud of the bank’s ability to convert 2.6 million BBVA USA customers, citing technology as a key factor. But some BBVA customers tell a different story — one about a poorly executed, manual conversion. The $553.5 billion Pittsburgh-based PNC, which completed its $11.6 […].

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Simulated FICO Score Impacts from Balance Aggregation due to Mortgage Forbearance

FICO

This post presents new results following up our last blog post that described the FICO® Score impacts from simulating up to 12 months of mortgage forbearance accommodation. In the previous analysis, we enacted the simulation on all open mortgage accounts identified on a national sample of millions of U.S. consumers from late 2018. All stats shared in that post were based on the entire consumer population that has at least one open mortgage reported in their credit file.

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CFPB, federal and state bank and credit union regulators warn of increased supervisory scrutiny in joint statement on managing LIBOR transition

CFPB Monitor

The CFPB, Federal Reserve Board, FDIC NCUA, OCC, in conjunction with the state bank and state credit union regulators, jointly issued a statement on managing the transition away from LIBOR (Joint Statement). In 2017, the United Kingdom’s Financial Conduct Authority (FCA), the regulator that oversees the panel of banks on whose submissions LIBOR is based, announced that it would discontinue LIBOR sometime after 2021.

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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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Another 48 Lloyds and Halifax bank branches to close

TheGuardian

Union condemns move by banking group, which announced multibillion-pound profits in July Lloyds Banking Group is closing a further 48 branches, in a move condemned by a trade union as a “classic example of putting profits before people”. The group, which announced multibillion-pound profits in July, will shut 41 Lloyds Bank and seven Halifax branches across England and Wales between January and April 2022.

Groups 95
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Deals and dollars: European fintechs land $1.7B in funding rounds

BankInovation

European fintechs fared well in funding rounds this week, with neobank N26 nabbing $900 million and banking infrastructure company Euroclear collecting $824.5 million. N26’s series E funding round brought the bank’s valuation to more than $9 billion. Third Point Ventures and Coatue Management led the funding round for the Berlin-based bank, and were joined by […].

Fintech 98
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Four Generational Marketing Imperatives for Engaging Millennials and Gen Z

Banking Exchange

Almost every brand across industries is courting millennials and Generation Z consumers Retail Banking Technology Lines of Business Financial Trends Feature Customers Feature3 People Digital Mobile Tech Management Online Financial Research Fintech.

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Supporting Communities with Personal Financial Management Tools

Jack Henry

Financial wellbeing is a lifelong journey with many twists and turns and no clear destination. As of August 2020, more than two-thirds of people in America (approximately 167 million people) are not financially healthy. Financial health disparities have widened by race and persisted across gender over the past year. These individuals are struggling to spend, save, borrow, or plan in ways that allow them to be resilient and seize opportunities over time.

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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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Barclays profits double as CEO brushes off inflation and supply chain fears

TheGuardian

Strong mortgage lending and booming investment fees boost quarterly profits to £2bn Barclays almost doubled its third-quarter profit to £2bn as it benefited from strong mortgage lending in the UK and a boom in investment banking. The British bank’s profit before tax in the three months to September rose from £1.1bn a year ago , taking its year-to-date profit to an all-time high of £6.9bn.

Lending 92
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Digital shortfalls may be biggest threat to community FIs

BankInovation

Consumers and businesses have high opinions of community financial institutions (FIs) but increasingly demand digital banking services, so "for community banks and credit unions that have fallen behind the digital transformation curve, the opportunity cost of not modernizing is now a matter of survival." Those are some conclusions in a report released last week by […].

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CFPB/FTC/North Carolina DOJ file amicus brief with Fourth Circuit in support of reversal of district court decision giving FCRA immunity to consumer reporting agency under the Communications Decency Act

CFPB Monitor

The CFPB, FTC, and the North Carolina Department of Justice filed an amicus brief with the U.S. Court of Appeals for the Fourth Circuit urging it to reverse a district court decision that found Section 230 of the Communications Decency Act made a consumer reporting agency immune from FCRA claims. In Henderson v. The Source for Public Data, L.P. , the plaintiffs alleged that Public Data qualified as a “consumer reporting agency” under the FCRA because it collected, sorted, summarized, and assembl

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HSBC Venture Debt Program Reserves $100m to Support Women and Minority Led Start-ups

Banking Exchange

Early-stage capital will seek to bridge the gender and racial gap Community Banking Feature3 Feature Duties Financial Trends Net Zero Sustainability Socially Responsible Investing SRI Exchange SRI Women SMEs Diversity Inclusion Carbon Neutral.

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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.