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6 Reasons Financial Institutions Are Embracing Risk and Regulation Tactics

Perficient

Legal Obligations and Regulatory Frameworks It is well-known that financial institutions operate within a complex web of laws and regulations. Operational Efficiency and Effectiveness Adopting regulatory risk and compliance practices is not merely a box-ticking exercise. This ensures a seamless and compliant global operation.

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APIs Raising Tough Questions About FinServ Innovation, Competition And Data Privacy

PYMNTS

The B2B payments industry is finally beginning to hustle when it comes to technological innovation. And as traditional financial institutions (FI) begin to recognize the value of collaborating with FinTechs, these banks can similarly shake their reputation for being innovation laggards and promote B2B payments progress while they’re at it. .

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Bank IT Spending – Use These Metrics to Improve Performance

South State Correspondent

The good news is that for many other areas, budgets are lower at banks compared to last year, and the fact that IT is still positive underscores the strategic imperative that banks face to digitize traditional operations, reduce costs, gain scale, and improve the customer experience. Usually, a bank spends about 8% of its revenue on IT.

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Solve This Problem with Your Strategic Horizon

South State Correspondent

The bank that will be around in the next 50 years will be one that develops the ability to build infrastructure now that allows for efficient innovation in the future. Strategy Is About Choices – Blockbuster If your strategic plan operates under the common theory “more but better,” then you likely have more strategic risk than you know.

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Today In Data: Intelligence Of Things Pushes Innovation

PYMNTS

IoT-enabled televisions, refrigerators and even vehicles are becoming mainstream, and even smartwatches are seeing the effects of connected innovation. Smartwatches are known to act as personal trainers, motivating users to reach daily exercise goals, track one’s heart rate or count calories and steps, among other functions.

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CA DFPI exercises its new enforcement authority against coding school’s income-based deferred tuition agreement

CFPB Monitor

The California Department of Financial Protection and Innovation announced last week that it has entered into a consent order with Lambda, Inc., Lambda discontinued ISAs for California students as a condition of receiving approval to operate from the California Bureau of Private Postsecondary Education in August 2020.).

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APIs Raising Tough Questions About FinServ Innovation, Competition And Data Privacy

PYMNTS

The B2B payments industry is finally beginning to hustle when it comes to technological innovation. And as traditional financial institutions (FI) begin to view the value of collaborating with FinTechs, these banks can similarly shake their reputation for being innovation laggards and promote B2B payments progress while they’re at it. .