Sat.May 29, 2021 - Fri.Jun 04, 2021

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The Digital Customer is Here to Stay – Five Principles to Keep Them Engaged

Accenture

In my first blog in this short series on how the behaviour of UK financial services customers has changed amid the pandemic, I looked at the way COVID-19 has accelerated consumers’ migration to digital banking services. And I drew on the UK findings from our Banking Consumer Study: Making digital more human to examine the….

Study 488
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Should Banks Adopt Embedded Lending?

CB Insights

As the pandemic has pushed more financial transactions online, embedded lending — which lets retailers and other non-financial businesses offer lending products to customers — is gaining traction. Today, businesses seeking loans typically go through traditional banks or lenders, which require lengthy processes to determine creditworthiness.

Lending 59
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How Cryptocurrency is Affecting BSA Initiatives

Abrigo

Cryptocurrency continues gaining traction. As the cryptocurrency industry continues to expand, financial institutions must remain vigilant to thwart cybercriminals. Want more BSA training and articles emailed to you? Takeaway 1 The cryptocurrency industry has expanded quickly. Cybercriminals have caught on. Takeaway 2 While crypto crime fell in 2020, there are many risks financial institutions must be aware of.

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Data Conversion Tips from Your Peers Who’ve Been There, Done That

Jack Henry

After 15 years in the conversion business , I still get asked the same question. “What can we do to ensure a successful and accurate data conversion?” It can be challenging because most banks and credit unions will never go through an acquisition of another site or a change of their vendor. And those who do may only do it a few times, with a different contact handling the effort each time.

Data 167
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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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Are you empowering relationship managers to serve digitally savvy commercial banking clients?

Accenture

The other day I was chatting with an executive at a major UK commercial bank. And they made an observation that echoed many of their counterparts in other institutions. “I don’t want us to spend the next two years simply dealing with the aftermath of the pandemic,” they explained. “Instead, we need to focus on…. The post Are you empowering relationship managers to serve digitally savvy commercial banking clients?

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Hot Topics: How to Prepare for Your Next BSA Exam

Abrigo

Prepare for your BSA exam by following these tips Getting ready for your upcoming BSA examination takes planning and thinking through several issues. Here's a guide to help. Want more BSA training and articles emailed to you? Takeaway 1 The first step to BSA exam preparation is to review regulatory guidance from the FFIEC and FinCEN. Takeaway 2 Good communication with your BSA examiner and having a team plan are key aspects of exam preparation. .

How To 195
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Rebeca Romero Rainey: Staying the course

Independent Banker

Photo by Robert Severi. We must work to remain optimistic in the face of adversity and keep in mind that no matter how difficult that feat may be, it’s worth the effort. When I transitioned from a community bank CEO to ICBA president and CEO, my team gave me a beautiful handmade card with notes and best wishes. On the front is a favorite quote of mine from French writer Anatole France: “To accomplish great things, we must not only act, but also dream; not only plan, but also believe.

Course 104
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A clear-eyed approach to the data dilemma in sustainable banking

Accenture

In my last blog post, I outlined the challenges and opportunities ahead for sustainable banking. With this post, I’m joined by my colleague Prithika Priyanshi, Senior Principal from the Center for Data & Insights at Accenture, who specializes in AI-powered sustainability. Just as digital did ten years ago, sustainability now impacts every part of the….

Data 311
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NFC vs RFID: What's the difference?

ATM Marketplace

In the contactless industry, we often hear people talk about the difference between near field communication, NFC, and radio frequency identification, RFID. However, there are both differences and similarities between them.

Industry 109
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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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Non-Profit Group Backs Digital Payments Firm with $15M

Banking Exchange

US non-profit invests in Airtm in bid to open cross-border digital payments and foreign currency transactions in Latin America Payments Technology Feature3 Fintech Feature Duties.

Groups 99
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45 Years in Business – A Look Back at Where It All Started and Where We Are Today

Jack Henry

This year, Jack Henry & Associates, Inc.® (Jack Henry) is celebrating 45 years of being in business. Since the start of the company, a lot has changed – not just technology, but the way in which people do business has changed (especially this last year). However, even with all of the change that both the company and the world has experienced over the last nearly five decades, there are some things that have remained constant at Jack Henry.

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Fresh auto finance approach boosts market share

Accenture

It’s time to reimagine the auto loan and leasing process. With all the digital tools at our disposal, buyers expect a process that’s fast and transparent. And it could mean a huge increase in market share for auto lenders willing to seize the opportunity. I recently went with my son to purchase his first car—and…. The post Fresh auto finance approach boosts market share appeared first on Accenture Banking Blog.

Marketing 273
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The empty office: what we lose when we work from home

TheGuardian

For decades, anthropologists have been telling us that it’s often the informal, unplanned interactions and rituals that matter most in any work environment. So how much are we missing by giving them up? In the summer of 2020, Daniel Beunza, a voluble Spanish social scientist who taught at Cass business school in London, organised a stream of video calls with a dozen senior bankers in the US and Europe.

Video 99
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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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Temenos inks cloud partnership with Huawei, eyes expansion in China, Asia-Pacific

BankInovation

Bank software provider Temenos is eyeing an expansion into the Chinese market under a deal inked with IT giant Huawei, announced Thursday. Temenos will offer its cloud-native core banking platform on the Huawei public cloud under a new partnership announced at the Huawei Intelligent Finance Summit 2021 held in Shanghai, China. The cloud-native offering, rolled […].

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A Hand Up with a Down Payment

ABA Community Banking

Banks help first-time borrowers tackle the high cost of homeownership. The post A Hand Up with a Down Payment appeared first on ABA Banking Journal.

Payments 107
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Winds of change: How climate risk is shifting regulatory roles

Accenture

Executive Summary Central banks and regulators around the world know climate risk constitutes a growing risk to financial stability. In their role to enable, manage and supervise financial sector (FS) participants in dealing with environmental risks, a number of them have focused on several crucial areas. Many, however, have been less proactive. They should consider….

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Cryptocurrency dealers face closure for failing UK money laundering test

TheGuardian

Up to 50 companies dealing in digital assets such as bitcoin could be forced to stop trading immediately Up to 50 companies dealing in cryptocurrencies such as bitcoin may be forced to close after failing to meet the UK’s anti-money laundering rules. The Financial Conduct Authority, the City regulator, announced on Thursday that an “unprecedented number” of companies had withdrawn applications from a temporary permit scheme that allowed firms to continue trading until the regulator could green-l

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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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Weekly Wrap: FDIC’s new chief innovation officer weighs in on AI

BankInovation

In this week’s episode of "The Buzz," Bank Automation News tackles the question of what banks can expect from regulatory agencies when it comes to deploying artificial intelligence (AI) in financial services. AI may offer a competitive advantage for U.S. companies, Sultan Meghji, the FDIC’s new chief innovation officer, told BAN. And while he said […].

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2 digital banking trends to follow post-pandemic

ATM Marketplace

While physical branches aren't going anywhere anytime soon, in order to suceed in the post-pandemic world, they will need to adjust to two major digital banking trends.

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Two senior officials reported to be leaving CFPB

CFPB Monitor

According to an American Banker report, two senior CFPB officials, Bryan Schneider and Peggy Twohig, will be leaving the Bureau in the coming weeks. Mr. Schneider has been serving as Associate Director of Supervision, Enforcement and Fair Lending. He was named to the position by former Director Kraninger. Ms. Twohig has been serving as Assistant Director of Supervision Policy and Strategy.

Report 78
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Biden corporate tax plan could earn EU and UK billions, study shows

TheGuardian

EU forecast to reap extra €50bn per year with UK expected to gain €200m from BP alone A proposal to be tabled by the US president, Joe Biden, at the upcoming G7 meeting for a 15% global corporate tax rate could reap the EU €50bn (£43bn) a year, and earn the UK nearly €200m extra alone from the British multinational BP, according to research. Should the tax rate be set higher at 25%, the lowest current rate within the seven largest world economies, the EU would earn nearly €170bn extra a year – m

Taxes 98
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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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Ethical AI: Experts say AI can be tapped for alternative credit scoring

BankInovation

Approximately 7.1 million U.S. households are unbanked, according to the most recent data from the FDIC, and 1.7 billion adults lack a bank account of any kind, according to global estimates from 2017. While some major U.S. banks have plans to serve the unbanked, including the $2.9 trillion JPMorgan Chase, $1.96 trillion Wells Fargo and […].

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Traditional Lenders Outperform Fintechs in Consumer Lending

Banking Exchange

JD Power’s survey reveals high satisfaction with traditional banks that have moved into digital The Economy Technology Financial Trends Feature3 Fintech Feature Retail Banking Covid19.

Fintech 78
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Ballard Spahr files amicus brief on behalf of communications client in support of en banc review of 11th Cir. decision applying FDCPA restriction on third-party communications to debt collector’s transmittal of debtor’s personal information to letter vendor

CFPB Monitor

On behalf of our client RevSpring, Inc., Ballard Spahr has filed an amicus brief in support of the petition for rehearing en banc filed in the Eleventh Circuit by the defendant in Hunstein v. Preferred Collection and Management Services. In that case, a unanimous Eleventh Circuit panel reversed the lower court’s dismissal of the plaintiff’s FDCPA claim, instead ruling that the plaintiff stated a claim by alleging that a debt collector’s transmittal of the plaintiff’s personal information to the

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HSBC wouldn’t help after scammers stole £40,000 from my Isa

TheGuardian

Nearly a year since it happened, I’m no nearer getting a refund I was a victim of identity theft and £40,000 was stolen from my HSBC cash Isa. But, nearly a year on, I’m no nearer to getting a refund. The money had been transferred in seven £5,000 payments to a new HSBC current account which, unbeknown to me, had been set up in my name. I reported it to HSBC and a day later another £5,000 was transferred.

Report 97
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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.