Abrigo
JULY 1, 2021
Identify Human Trafficking via Transactions Banking professionals run across many types of transactions pointing to human trafficking. Here are tips to spot them from Love Never Fails Founder Vanessa Russell. You might also like this webinar: "Human Trafficking - Close to Home" WATCH . Takeaway 1 Some financial transactions flag human trafficking because they are from websites notorious for this behavior.
Accenture
JULY 1, 2021
The power of the cloud is not new for banks. But we are rapidly approaching a tipping point in the industry’s adoption of the cloud, spurred partly by the digital acceleration caused by the pandemic. Nearly every bank has adopted the cloud in some form, or are planning to get there soon. The reason for…. The post How the cloud can transform people practices in banking appeared first on Accenture Banking Blog.
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CFPB Monitor
JULY 1, 2021
On June 29, Florida Governor DeSantis signed into law CS/SB 1120 which amends Florida law to impose new limits on the use of “automatic dialers.” The law is effective today, July 1. The new law prohibits the use of an “automated system” to make “telephonic sales call” without the prior express written consent of the “called party.” A “telephonic sales call” is defined as “a telephone call, text message, or voicemail transmission to a consumer for the purpose of soliciting a sale of any consum
BankInovation
JULY 1, 2021
Financial institutions that leverage artificial intelligence (AI) and machine learning (ML) are not in favor of new regulations determining how the techniques can be used. The Federal Reserve and the Office of the Comptroller of the Currency (OCC) together with the Federal Deposit Insurance Corporation (FDIC), Consumer Financial Protection Bureau and the National Credit Union […].
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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
FluentBanking
JULY 1, 2021
IFIC is the country's 1st public-private partnership bank. The bank is a unique embodiment of reality, stability, and the highest level of professionalism in the financial sector. Through a continuous innovative process, since 1976, we built the best-in-class platform of people, process, technology, products and service proposition. We are ready to become one of the largest and most distinguished banks, both nationally and internationally.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
ABA Community Banking
JULY 1, 2021
Banking has always been about people and no bank is better than its employees—so it’s incumbent on all of us to recruit the best and brightest. The post The Imperative of Developing the Next Generation of Bankers appeared first on ABA Banking Journal.
CFPB Monitor
JULY 1, 2021
The final step in the demise of the OCC’s true lender rule occurred yesterday with President Biden signing the resolution under the Congressional Review Act (CRA) overturning the rule that was passed by the House and Senate. On August 9, 2021, from 12:00 p.m. to 1:00 p.m. ET, Ballard Spahr will hold a webinar, “Congress Overrides the OCC’s True Lender Rule: What Are the Risks for Banks and Their Loan Program Nonbank Partners?
Jack Henry
JULY 1, 2021
It might take you a second to remember what life was like prior to COVID-19. Travel was booming , people were vacationing around the world, and the hospitality sector was flourishing. In 2019 alone, direct spending by resident and domestic travelers in the United States was around $3.1 billion per day, supporting a total of 15.8 million American jobs.
CFPB Monitor
JULY 1, 2021
After announcing several years ago that it intended to pick up with fair lending enforcement in the indirect auto finance market where the CFPB left off, the New York Department of Financial Services has announced two consent orders with smaller, New York-chartered banks based on the allegation that allowing auto dealers to negotiate the retail prices of retail installment contracts resulted in a disparate impact on the basis of race and national origin.
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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
BankInovation
JULY 1, 2021
Moveworks Inc., a startup that helps with employee technology support, is now valued at $2.1 billion, according to founder and Chief Executive Officer Bhavin Shah. The Mountain View, California-based company has raised $200 million in a new investment, Shah said in an interview. The financing was led by Tiger Global Management and Alkeon Capital Management. […].
CFPB Monitor
JULY 1, 2021
After discussing the current state of the regulators’ knowledge about artificial intelligence and machine learning (ML) in underwriting models, we examine the regulators’ key areas of focus for ML models (explainability/accuracy in adverse action notices, potential hidden bias, testing for disparate impact), discuss how to test for and counteract disparate impact and how to search for less discriminatory alternatives in ML model development, and consider regulators’ possible next steps.
ATM Marketplace
JULY 1, 2021
With rising costs, tighter regulations, and more frequent security attacks, Financial Institutions can trust NCRs ATM-as-a-Service model to help take complexity out of running the ATM network.
CB Insights
JULY 1, 2021
Visier , a people analytics and workforce planning platform, has raised $125M in a Series E round with participation from Goldman Sachs Asset Management, Foundation Capital, and Adams Street Partners, among others. HOW’S THE COMPANY PERFORMING? Canada-based Visier offers a workplace platform that analyzes data to suggest accurate salaries, promotion, and hiring budgets.
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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.
The Paypers
JULY 1, 2021
The ai Corporation (ai) has extended its partnership with University of Southampton (UoS) working together to improve fraud risk strategy automation through machine learning.
ATM Marketplace
JULY 1, 2021
Unlock exceptional experiences at the ATM
The Paypers
JULY 1, 2021
Australia’s Open Banking scheme has reached its next milestone, with all banks and credit unions now expected to share basic consumer data with individuals and registered data holders, according to itnews.com.au.
CB Insights
JULY 1, 2021
Thomas Bravo , a private equity firm, has acquired QAD , a provider of cloud-based enterprise software. The deal, valued at $2B, is an all-cash transaction and is expected to be complete by Q4’21. WHO ARE THE PARTIES TO THE DEAL? QAD: California-based QAD provides cloud-based planning and resource management software to manufacturing companies.
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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.
ABA Community Banking
JULY 1, 2021
The Federal Reserve today said it plans to launch a new tool, the Scaled CECL Allowance for Losses Estimator, or SCALE, to help community banks implement the current expected credit loss standard. The post Fed: CECL Tool for Community Banks to Launch July 15 appeared first on ABA Banking Journal.
The Paypers
JULY 1, 2021
Belgian digital identity app itsme has received EUR 14.5 million from Federal Holding and Investment Company (FPIM/SFPI) to develop a Europe-wide digital identity app.
CB Insights
JULY 1, 2021
Thoma Bravo , a private equity firm, has acquired QAD , a provider of cloud-based enterprise software. The deal, valued at $2B, is an all-cash transaction and is expected to be complete by Q4’21. WHO ARE THE PARTIES TO THE DEAL? QAD: California-based QAD provides cloud-based planning and resource management software to manufacturing companies.
The Paypers
JULY 1, 2021
The Verkhovna Rada (the Ukraine-based parliament) has approved a bill on payment services aimed at consumers to improve the quality of payment services, according to finance.ua.
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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.
The Paypers
JULY 1, 2021
RippleX , an open platform for money, has invested in Mintable , an NFT marketplace that allows users to create, buy, and sell digital items using fiat or cryptocurrency.
The Banker
JULY 1, 2021
A UK high court decision means that if a bank wants to bind customers into a compensation scheme, it needs to consider what is a ‘fair level’ of compensation.
The Paypers
JULY 1, 2021
Elucidate , a financial crime risk scoring platform, has launched the Elucidate FinCrime Risk Monitor (EFRM), an open database for scoring the financial crime risk vulnerability of financial institutions.
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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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