Sat.May 22, 2021 - Fri.May 28, 2021

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4 Unpredictable Financial Risks You Can Prepare For

Jack Henry

In banking there is, of course, always uncertainty and there are always unknowns. The current economic climate is no exception, and there are many reasons to make a special effort now to be proactive regarding financial risk. It’s time to reduce the worry by preparing for variables that might send surprises your way.

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The U.S. Pandemic Recovery is a Chance to Improve Digital ID

Payments Source

Risk Authentication Payment fraud

Fraud 197
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How Banks Can Use Data to Connect With Customers

BankInovation

Prior to the pandemic, many bank customers were already utilizing online banking, downloading mobile apps, and opening new accounts digitally. These features had become more than a nice-to-have for financial institutions; they were essential offerings that customers expected from their bank.

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Perficient to Present at Fintech Generations 2021

Perficient

Perficient is excited to announce that Fintech Generations 2021 , a global fintech thought leadership event that takes place June 7-11, will feature Scott Albahary, chief strategist, financial services. In the session “Differentiating Your Brand for the Digital Era,” Scott will discuss how financial services companies can leverage digital technologies in new and innovative ways to create new value for consumers and businesses.

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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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Five reasons the cloud is a generational opportunity for payments right now

Accenture

The power of the cloud shouldn’t be news for any leader in payments today. Whether public, private, or hybrid, the cloud’s capabilities are widely known and beyond dispute. But cloud transformation is newly urgent. Accenture research has found that modernizing payments is a $300 billion opportunity, with 2.7 trillion cash transactions forecast to move to….

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Ballard Spahr’s Consumer Financial Services Group again receives highest national ranking from Chambers USA

CFPB Monitor

We are pleased to announce that Ballard Spahr’s Consumer Financial Services Group has once again received the highest national ranking from Chambers USA: America’s Leading Lawyers for Business. The Group was ranked in the highest tier nationally in Compliance and Litigation, the two categories previously used by Chambers USA for Financial Services Regulation: Consumer Finance.

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5 Powerful Statements for Your Debt Collections Call Model

Perficient

When was the last time you revisited the debt collections call model your agents follow? Is it suitable for customers who are late today – versus years ago? Customer contacts made via phone calls must become more than an ask for payment and the total amount due. Here are 5 powerful statements that must be part of your debt collections call model script to convey empathy and improve customer retention: “How can I support you and your family during this time of need?”.

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Introducing The Altimeter, an inside guide to banking in the cloud

Accenture

As the Covid-19 pandemic abates in much of the world, banks are doubling down on their efforts to embrace banking in the cloud. The pandemic highlighted the relative ease and flexibility of moving to the cloud, and of accomplishing things never before imagined. For example, banks created virtual call centers in days—an impossible mission for…. The post Introducing The Altimeter, an inside guide to banking in the cloud appeared first on Accenture Banking Blog.

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How Banks Can Support Small Businesses After COVID-19

Banking Exchange

The pandemic has had a profound effect on small businesses – but the post-pandemic rebirth is rife with opportunity Community Banking Feature3 Feature PPP Covid19 Bank Performance The Economy.

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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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This week’s podcast: A deep dive into the Fair Credit Reporting Act issues arising from use of the Consumer Data Industry Association (CDIA) compliance condition codes for disputed account information furnished to consumer reporting agencies

CFPB Monitor

We take a close look at the CDIA code options available for direct and indirect consumer disputes, their relationship to FCRA compliance, CFPB scrutiny of code use in FCRA compliance exams of furnishers, and court decisions involving alleged improper coding of disputed accounts. We also share our thoughts on best practices for furnishers in coding disputed accounts.

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Does deglobalisation make economies more resilient to recessions?

BankUnderground

Marco Garofalo. Are less open economies more resilient to downturns? There is general agreement on the benefits of openness, but its adverse link to volatility is ambiguous. On the one hand, globalisation makes countries less sensitive to domestic disturbances, yet it also makes them more exposed to foreign shocks. In this post, I use local projections (LP) to show that international business cycles since 1870 appear to support a positive effect of openness on the economic resilience of a countr

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Open Banking and CDR: How to adapt your channel strategy

Accenture

In our last post, we ran through some of the monetisation options available to banks as they begin to look beyond compliance with the Consumer Data Right (CDR) to imagine their strategic role in the new open-data economy. Since that post, CDR has progressed significantly. Today, all of the big four Australian banks have gone…. The post Open Banking and CDR: How to adapt your channel strategy appeared first on Accenture Banking Blog.

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Blue Ridge and Aeldra Partner to Help Underserved Cross-Border Clients

Banking Exchange

Virginia-based bank seeks to boost banking access for overseas companies with US banking needs Community Banking Feature3 Fintech Feature Financial Trends Mobile Online Tech Management.

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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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British banks finance 805m tonnes of CO2 production a year

TheGuardian

Emissions from projects and companies backed by the City are nearly double those of the UK The amount of CO2 production financed by Britain’s banks and asset managers is nearly double the UK’s annual carbon emissions, according to a new report. The study, published by environmental campaign groups Greenpeace and WWF, shows the City provided loans and investments for projects and companies that emitted 805m tonnes of CO2 in 2019.

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Cities work to bring fintech to underserved communities

Payments Source

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How the pandemic accelerated digital payments innovation

Accenture

The COVID-19 pandemic has pushed digital payments into a new era as businesses around the world were forced to switch quickly from in-store to online. As more and more consumers started to shop online, embedding the payments experience in customer journeys and managing payments infrastructure have become extremely important to businesses in virtually every industry.….

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Weekly Wrap: KeyBank ramps up RPA use, Wall Street questioned by U.S. Senate

BankInovation

Bank Automation News spoke with KeyBank this week on how the $176 billion financial institution is leveraging robotic process automation (RPA) tools to automate its internal processes across commercial credit, consumer lending, commercial lending, the contact center, ACH payments, human resources and finance. KeyBank signed deals with Automation Anywhere in 2017, and with UiPath in 2020, to provide automation tools […].

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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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UK banks’ support for deforestation firms topped £900m last year

TheGuardian

MP leads call for amendment to environment bill to root out illegal deforestation from supply chains British banks provided at least £900m in finance last year to companies involved in deforestation overseas, research has shown, putting pressure on the government to include financial institutions in plans to force companies to root out illegal deforestation from their supply chains.

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It’s 2021. Do You Know What Your AI Is Doing?

FICO

Responsible AI has been one of my big topics for a few years now, the subject of many articles, blogs and talks I’ve given to audiences around the world. So how are companies faring in adopting Responsible AI, making sure they are using artificial intelligence ethically, transparently, securely and in their customers’ best interests? The short answer: not great.

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Digital change accelerates in Canada’s commercial banking sector

Accenture

The launch of the Canada Emergency Business Account (CEBA) last year was remarkable. In a few short weeks, Export Development Canada and financial institutions across the country stood up entirely new loan products and processes. The successful launch of CEBA was made possible by the agility of the commercial banking arms of financial institutions large….

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Inside Look: KeyBank ramps up RPA and process mining efforts 

BankInovation

KeyBank projects that 450 full-time equivalent (FTE) worker processes will be automated by January 2022, requiring the $176 billion bank to augment its automation team. The Ohio-based bank, which in 2017 began to roll out robotic process automation (RPA) in its frontline, middle and back-office operations, currently executes about 300 FTE worker processes daily.

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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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Protesters call on banks to ‘drop African debt’ in wake of Covid

TheGuardian

World’s poorest nations saddled with ‘imprisoning’ debt, hampering responses to the pandemic, say activists protesting HSBC meeting Activists at a demonstration outside the annual general meeting of HSBC in London have demanded the bank and other financial giants provide debt relief to African countries hit hard by the coronavirus pandemic. In an attempt to highlight the role of private creditors in the debt crises of the world’s poorest countries, campaigners with “drop the debt” banners gather

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What role will cryptocurrency play with ATMs?

ATM Marketplace

Bitcoin ATMs present a key opportunity not just for customers but also for retailers, since they can often boost both their bottom line and their brand by deploying one of these machines.

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Addressing the Unbanked: ABA Hails ‘Bank On’ Success

Banking Exchange

The initiative has proven successful in addressing the needs of the US’s unbanked population Community Banking Feature Fair Lending Feature3 PPP Covid19 People The Economy Duties.

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Financial services and small business: Building back stronger, together

BankInovation

During COVID-19, the temporary shut-down of businesses devastated US small business. According to a survey in February 2021 from the Federal Reserve Bank, it’s projected that three out of every 10 small businesses in the U.S. say they likely won’t survive 2021 without additional government assistance during the pandemic. Considering there are roughly 30 million […].

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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.