Thu.Mar 28, 2024

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Banks Should Make 2024 a True ‘Year of Digital’

Gonzobanker

Banks and credit unions won’t find a perfect digital vendor. What they can find is the right partner to fulfill their strategic needs. 2024 will prove to be a remarkably busy year in the digital space, when many financial institutions will make near-life-or-death choices about the future of their digital platforms and how they will support them.

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Markup matters: monetary policy works through aspirations

BankUnderground

Tim Willems and Rick van der Ploeg Since the post-Covid rise in inflation has been accompanied by strong wage growth, interactions between wage and price-setters, each wishing to attain a certain markup, have regained prominence. In our recently published Staff Working Paper , we ask how monetary policy should be conducted amid, what has been referred to as, a ‘battle of the markups’.

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The Power of Machine Learning in Transaction Monitoring

BankInovation

In the banking industry, transaction monitoring stands as a critical pillar of defense against fraud, money laundering, and other illicit activities. While traditional methods have served their purpose, the landscape is evolving, demanding a more sophisticated approach. This is where machine learning emerges as a key driver, offering remarkable capabilities in transaction monitoring.

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Worldline partners with Lidio

The Paypers

France-based digital payments firm Worldline has announced that Turkey’s Central Bank ( TCMB ) approved its collaboration with fintech company Lidio.

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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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Ally Financial names Rhodes as CEO

BankInovation

Ally Financial named a new chief executive today, ending a three-month search. Michael Rhodes will take the reins of the bank April 29 and become a member of the board, according to an Ally release. Prior to joining Ally, Rhodes served as CEO of Discover Financial Services, which Capital One announced plans to acquire last month.

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Looking back: The fall of crypto giant Sam Bankman-Fried

American Banker

Once a prominent figure spurring financial institutions to engage in cryptocurrency, Bankman-Fried's downslide began with the collapse of the digital asset exchange FTX in late 2022 and hit rock bottom with his sentencing to 25 years in prison.

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Monzo signs up for 159 anti-fraud service

The Paypers

UK-based digital bank Monzo has signed up for 159, the phone service that connects individuals with their bank when they receive a suspect call on financial matters.

Fraud 41
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A road map for how to do good

American Banker

In her new book, "Higher Ground," Alison Taylor, a business school professor, dives into how executives can grapple with thorny social and environmental challenges while ensuring an ethical culture within their companies.

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Google Wallet integrates verification settings on Android

The Paypers

Google Wallet has announced that it introduced an additional verification settings menu for Android devices, enabling users to have a more secure payment experience.

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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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Integrated Financial finds new buyer in Capital Bancorp

American Banker

Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.

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Plaid announces new partnerships to combat fraud

The Paypers

Plaid has announced its partnerships with Sandbox Banking and RealPage in order to prevent fraud across several markets and ensure a more secure customer experience.

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How to tie everyone to PROFIT [VIDEO]

The Emmerich Group

Does every team member on your team know how they tie to profit? I mean really know? When a study published in Businessweek revealed they had asked 6,000 employees, “Do you perform in the top 10 percent?” more than 90 percent said they performed in the top 10 percent! Whoa. So yes, you likely have a problem. And no, your people don’t really understand how they tie to profit—but they certainly think that they do.

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Walmart to end partnership with Capital One early

The Paypers

A US judge ruled that Walmart could end its credit card collaboration with Capital One early, as the bank failed to provide the needed level of client solutions.

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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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Clairvoyance isn't in anyone's job description, so don't expect it

American Banker

Managers often find themselves frustrated that their expectations aren't being met. Instead of assuming the worst about employees, first ask yourself whether you have clearly expressed what you want from your team.

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TD Bank launches new banking products

The Paypers

US-based financial institution TD Bank has announced the launch of TD Complete Checking and TD Early Pay, aiming to simplify and improve the banking experience.

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Buy the People: Red as Rust — Sherrod Brown's battle for Ohio's populist vote

American Banker

Senate Banking Committee Chairman Sherrod Brown faces a tough 2024 campaign to recapture his Ohio senate seat in a state that's increasingly Red. Can the same state that elected conservative populist firebrand J.D. Vance also re-elect Sherrod Brown? And what do the political undercurrents apparent in Ohio mean for banks?

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SCOPE FinTech Solutions and iDenfy augment fintech security

The Paypers

iDenfy has partnered with SCOPE FinTech Solutions to augment fintech security in response to the expanding European market and rising threat of financial fraud.

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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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How KeyBank's approach to fintechs set the tone for product development

American Banker

The bank is launching KeyVAM, a virtual account management offering it designed with fintech Qolo. Both companies said the nature of the relationship was as important as the technology it produced.

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Tempo France suspends classical remittance services

The Paypers

EU-based payment system operator Tempo France has announced its decision to suspend classical remittance services and exclude them from its product suite.

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20 bank holding companies with the largest credit card loan portfolios

American Banker

The top five bank holding companies have combined total credit card loan portfolios of more than $705 billion.

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Bluefin launched new P2PE devices, application listings, and KIFs

The Paypers

Bluefin has added new PCI-validated P2PE devices, application listings, and KIFs tools into its Encryption Management Services P2PE Component listing.

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Top 10 Benefits of Automating Loan Modifications for Commercial Lenders

Get ready for the wave of $1.2 trillion in commercial debt maturing in the next 24 months with GoDocs' ModDocs® platform. Traditional loan modifications are slow, expensive, and prone to errors, which put lenders at risk. But with ModDocs®, you can enjoy an innovative solution that eliminates attorney fees, allows on-the-fly loan modifications, and ensures compliance.

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Citi says 42% of energy clients unprepared for low-carbon future

American Banker

With the movement to clean energy under way in most industries, banks are paying closer attention to their clients' plans.

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Paysend partners with Currencycloud

The Paypers

UK-based fintech Paysend has chosen Currencycloud to boost its FX and treasury capabilities, becoming a key partner for cross-border money movement.

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Mortgage rates slip, helping spring home purchase activity

American Banker

But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.

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Boku launches new research report

The Paypers

Boku has launched a new global research report, in which the company analysed payment preferences and purchasing behaviours of customers globally.

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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.