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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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.

Raleigh 78
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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.

Fraud 66
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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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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.

Cards 63

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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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Bankman-Fried is sentenced to 25 years in prison over FTX collapse

BankInovation

FTX co-founder Sam Bankman-Fried was sentenced to 25 years in prison for stealing billions of dollars from customers, marking the final chapter in a case that has upended the crypto industry. US District Judge Lewis A.

US 58
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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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Discover: AI accelerates RPA lifecycle

BankInovation

Discover Financial Services is looking to AI to help boost its coding and robotic process automation efforts. When implementing robotic process automation (RPA), “you don’t just say, all right we have automation, we’re done.

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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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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.

Fintech 45
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Banks, fintechs back in the M&A game

BankInovation

Mergers and acquisitions are heating up after a subdued 2023, with investors on the hunt for strategic deals, especially in the fintech and financial services industries.

Fintech 44
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allpay partners with Crown Commercial Service

The Paypers

allpay has been appointed as the supplier of Crown Commercial Service ’s Open Banking and Fund Administration & Disbursement Services Dynamic Purchasing Systems.

System 41
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AI's potential for handling customers' complaints

American Banker

Synovus Financial demonstrated at an industry conference how it is using Microsoft's Copilot to help its staff address customers' concerns.

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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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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.

Fintech 45
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Marsh's Oliver Wyman promotes Rosberg, ZayZoon raises 15 million

American Banker

Mariya Rosberg is named Americas head of banking and financial services at Marsh McLennan's Oliver Wyman unit; startup ZayZoon raised $15 million in a new funding round; and more in the weekly banking news roundup.

America 36
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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.

How To 36
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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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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.

Google 41
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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.

Video 36
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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.

Fraud 41
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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.

Fintech 46
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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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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.

Capital 41
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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?

Ohio 34
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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.

US 41
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Santander adds ex-Marcus head to lead retail banking and digital push

American Banker

The U.S. arm of Spanish banking giant Santander has hired Swati Bhatia to oversee retail banking and its digital transformation efforts. Bhatia joins at "an inflection point" for the company, which aims to be "a digital bank with branches," CEO Tim Wennes said.

Retail 31
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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.