June, 2023

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The Biggest Challenges and Opportunities for Credit Unions from a Marketing Perspective

The Financial Brand

This article The Biggest Challenges and Opportunities for Credit Unions from a Marketing Perspective appeared first on The Financial Brand. Credit unions view relationship marketing and artificial intelligence as big opportunities. But they also have some challenges banks don't have to worry about. This article The Biggest Challenges and Opportunities for Credit Unions from a Marketing Perspective appeared first on The Financial Brand.

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Community bank stocks mount relief rally

American Banker

After shares dropped in the aftermath of recent failures, most banks demonstrated resilience and investors started to buy back into the sector.

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Embold Credit Union CEO: Tougher times are looming

American Banker

At the Milwaukie, Oregon, institution, total loans increased 16% in the first quarter from a year earlier. But President and CEO Aaron Goff predicted this would level off significantly for his credit union and the industry overall.

Oregon 74
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How are banks automating or failing to automate?

ATM Marketplace

Banks are typically seen as traditional organizations; however, many are embracing automation to improve efficiency and meet customer needs. That being said, there are still barriers to a full embrace of the technology.

Meeting 133
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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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How digital transformation can make banks stronger

ATM Marketplace

Valley Bank recently made a major digital transformation. Brad Cooper, editor of ATM Marketplace, spoke with Daniel Brown, editor of Digital Signage Today, about what this means for the banking industry as a whole.

ATM 139

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Banks and Credit Unions Rethinking Priorities Amid Economic Uncertainty

The Financial Brand

This article Banks and Credit Unions Rethinking Priorities Amid Economic Uncertainty appeared first on The Financial Brand. Technology & third-party collaborations are not just value-added propositions, but fundamental elements to meet strategic banking urgencies. This article Banks and Credit Unions Rethinking Priorities Amid Economic Uncertainty appeared first on The Financial Brand.

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3 trends driving payments innovation, according to Bank of America exec

BankInovation

Consumer trends and needs directly affect payments innovation through the application of AI in finance, real-time payments enhancements and global transaction capabilities.

America 98
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Is the NCUA really about to loosen credit union membership rules again?

American Banker

Further changes to field of membership rules will result in credit unions so big that they lose focus on the communities they were chartered to serve.

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Shopify taps Adyen in bid for bigger clients

Payments Dive

Canadian e-commerce company Shopify is upgrading its integration with Dutch fintech Adyen in an effort to serve larger merchants in North America, and on the international stage.

America 418
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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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Bold banks tackle supply chain emissions

Accenture

A few bold banks are beginning to see the benefits of working together to tame supply chain emissions. They’re sharing ideas about how they can more accurately measure these Scope 3 emissions that are generated by their suppliers. And, most important, they’re exploring ways to reduce them. The discussions involve several big retail banks and… The post Bold banks tackle supply chain emissions appeared first on Accenture Banking Blog.

Retail 297
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In Rough Times, a Confident Board is the Best Asset

Gonzobanker

A recent Gallup survey notes 48% of Americans are worried about the safety of their money in banks. How worried are bank boards? So Gonzo Bankers, are you feeling like the worst of the banking chaos is behind you, or are you peering around the corner like you’re in a classic horror-movie scene? Lately, it feels like a “B” movie where the villain has just been slain and you’ve let your guard down only to have the villain open their eyes!

Capital 158
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HUD Requires Use of Supplemental Consumer Information Form for FHA Mortgage Loans

CFPB Monitor

The U.S. Department of Housing and Urban Development (HUD) recently announced in Mortgagee Letter 2023.13 that lenders must use the Supplemental Consumer Information Form (SCIF) of Fannie Mae and Freddie Mac in connection with FHA insured mortgage loans with application dates on or after August 28, 2023. As previously reported , in May 2022 the Federal Housing Finance Agency announced that for residential mortgage loans to be sold to Fannie Mae or Freddie Mac with application dates on or after M

Report 148
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The Three-Digit Summary Of Financial Wellness

BankBazaar

To many, a Credit Score may seem like a simple, inconsequential three-digit number. However, for a lender, it gives deeper insight into a borrower’s financial behaviour and patterns. They look at the credit reports to understand the borrower’s ability and willingness to pay off debt. You can imagine how crucial that is because, at some point in life, the need to get a Credit Card or a Personal Loan may arise.

Cards 147
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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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Bitcoin ATM operator demands Texas sheriff return funds seized in ransomware scam

ATM Marketplace

The sheriff claims his office acted appropriately in seizing cash from the machine and returning it to the victim of a ransomware scam. BItcoin Depot claims legal procedure was not followed.

Bitcoin 133
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Global Payments mulls price increases

Payments Dive

Global Payments CEO Cameron Bready called the payment services pricing environment “favorable” in light of increases rivals have made.

Payments 459
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3 efficient ways to win the payments innovation race

Accenture

Banks and other incumbent payment players face an intriguing paradox right now. They must innovate to stay relevant, but their discretionary budgets for innovation are limited. They must find a way to do more with less. Rapid growth in the payments market, which is attracting a wide range of new value propositions and competitors, adds… The post 3 efficient ways to win the payments innovation race appeared first on Accenture Banking Blog.

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Baker Hill to Be Acquired by Flexpoint Ford: So What?

Gonzobanker

The Flexpoint Ford deal looks good, but there are some things to keep an eye on Baker Hill , a provider of cloud-based, end-to-end loan origination, risk management and analytics software, recently announced that Flexpoint Ford , a private equity firm specializing in investments in the financial services and healthcare industries, agreed to acquire the company.

Fintech 148
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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.

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DOJ announces consent order with property management company to resolve alleged SCRA early lease termination violations

CFPB Monitor

On June 13, 2023, the Department of Justice (“DOJ”) announced that it had settled an action against a multi-family residential property management company for alleged violations of the Servicemembers Civil Relief Act (“SCRA”) prohibition on imposing early termination charges when a servicemember lawfully terminates a residential lease after receiving military orders. .

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What can we learn about monetary policy transmission using international industry-panel data?

BankUnderground

Sangyup Choi, Tim Willems and Seung Yong Yoo How does monetary policy really affect the real economy? What kinds of firms or industries are more sensitive to changes in the stance of monetary policy, and through which exact channels? Despite advances in our understanding of the monetary transmission mechanism, existing studies have not reached a consensus regarding the exact mechanics of transmission.

Policies 111
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Why cash recycling can pay off for banks

ATM Marketplace

Cash recycling is a relatively recent development for ATMs, which raises the question of whether it is actually a good investment that can save time and money while increasing teller productivity.

ATM 126
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FedNow battles conspiracy theories

Payments Dive

The Federal Reserve’s new instant payments system is confronting disinformation as it gears up for a launch, likely late next month.

System 459
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Need Curated Pre-foreclosure Lists to Generate New Real Estate Leads? Trellis Has the Data!

Trellis is a state trial court research and analytics platform that provides Real Estate Professionals (Buyers, Foreclosure, Loan Modification, etc.) with LEADS on Pre-Foreclosures, Lis Pendes, Distressed Assets and more — to help uncover **new** opportunities and grow their business. The process is quick and easy — and all in real time. Trellis will supply you with a link to the relevant dockets, a Leads sheet and access to its UI where applicable.

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Thinking about retiring from appraising 

Realwired Appraisal Management Blog

With the current bank slowdown, many in the valuation field are considering retiring. In the past, retiring meant taking less jobs but not a full stop. Does green golf courses or fishing on the bay in your center console boat sound alluring? Maybe it’s thoughts of getting to all those house projects.

Course 98
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The Newest Neobank is for the 62+ Crowd

Gonzobanker

The launch of Charlie points to an underserved niche in banking: older adults. Well, it happened. At last. In mid-May, a digital bank account for the 62+ crowd debuted in the United States. It’s called Charlie , and its appeal is emotional. “You’ve been the everything to everyone. Now it’s your turn” reads the tagline on its website. At first glance, the account resembles plenty of others – free ATM access at thousands of locations, no monthly fees and no minimum account balances.

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FTC settles lawsuit against Publishers Clearing House involving alleged use of “dark patterns”; Ballard Spahr to hold Aug. 8 webinar

CFPB Monitor

Less than a week after announcing that it had filed a civil case against Amazon alleging that the company used “dark patterns” to enroll people in its Prime program, the FTC announced that it has entered into a settlement with Publishers Clearing House (PCH) to settle charges involving PCH’s use of “dark patterns.” .

Company 145
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Inside look: Discover Financial Services’ approach to responsible AI

BankInovation

Vetting new technology and jumping through compliance hoops is nothing new for financial institutions — and implementing AI should be no different. In theory. As technology advances and large language models (LLM) improve daily, financial institutions (FI) are finding new applications for it.

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How to Stay Competitive in the Evolving State of Martech

Marketing technology is essential for B2B marketers to stay competitive in a rapidly changing digital landscape — and with 53% of marketers experiencing legacy technology issues and limitations, they’re researching innovations to expand and refine their technology stacks. To help practitioners keep up with the rapidly evolving martech landscape, this special report will discuss: How practitioners are integrating technologies and systems to encourage information-sharing between departments and pr