Mon.Jan 10, 2022

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The next big payments disruptors may surprise you

Accenture

At the recent Money 2020 conference, I spoke with The Fintech Times about which potential disruptors banks and payments players are most concerned about. Accenture surveyed over 200 payments executives to find out what they thought were the biggest potential disruptors and growth opportunities in payments. That research will be available early this year, but….

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40 Under 40: Emerging Community Bank Leaders awards

Independent Banker

Nominations for 40 Under 40: Emerging Community Bank Leaders 2022 are now open! Click here to nominate. 40 Under 40 seeks to recognize community banking’s brightest, most promising young professionals. Winners are featured in Independent Banker’s June issue. Candidates are judged on the following criteria: Character. Leadership. Community Involvement.

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BSA/AML Reform in the 2021 NDAA: What You Need to Know

Jack Henry

One thing all BSA compliance professionals can agree on is that the requirements to identify money laundering and terrorist financing will continue to get more complex globally as time goes on. The good news is the 2021 National Defense Authorization Act (NDAA) updates aim to improve Bank Secrecy Act (BSA) compliance to make identifying money laundering and terrorist financing easier for everyone.

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Banks Need to Expand Hybrid Banking Options to Survive

Banking Exchange

COVID-19 has caused significant numbers of people to want to limit social contact in public places for the time being Retail Banking Feature Financial Trends Duties Technology Feature3 Customers Consumer Compliance Covid19 Performance People Branch Technology/ATMs Mobile Online.

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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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Andrew Guzzo Promoted to Chief Banking Officer at Merchants Bank

MerhantsBanks

Andrew Guzzo has been promoted to Chief Banking Officer & President (Winona), according to Greg Evans, President & CEO. Guzzo will continue to have primary leadership responsibility for Merchants Bank’s Winona and Goodview locations, along with meaningful community engagement for the Winona area. Additionally, Guzzo will now also oversee the strategic direction of the Wealth […].

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3 California fintechs funded by Citi Ventures

BankInovation

To find out what's new on the horizon for fintech, Bank Automation News spoke with Matt Carbonara, managing director for the enterprise practice at fintech incubator and investor Citi Ventures. A division of $2.4 trillion Citi, Citi Ventures invests in fintech startups and helps test, refine and launch solutions in automation, artificial intelligence (AI), machine […].

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Market Commentary: Week of January 10, 2022

SWBC's LenderHub

Last Week. The markets rang in 2022 with what could be the real beginning of a bond market rout that has been predicted incorrectly for at least a decade—up until now. The December FOMC minutes showed the committee is getting increasingly concerned about “non-transitory” inflation and is considering raising rates as soon as QE buying (not including reinvestment, which is still very substantial) ends in March.

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3 best practices for automated small business lenders

BankInovation

With an estimated market value of $10.7 billion, the automated lending wave is not expected to crest anytime soon. Market value is expected to increase nearly 100% to $20.5 billion by 2026 on the back of diversifying consumer needs and an uncertain COVID-19 situation, according to a study by market research firm Markets and Markets. […].

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Michigan State Univ Federal Credit Union Jumbo 5-Yr CD Is Rate Leader

BankDeals

Michigan State University Federal Credit Union (easy membership) has raised the rate on its 5-year Jumbo CD ($100k min) to a very competitive level.

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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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New partnership allows CSI-partner banks to offer Bitcoin buying, selling

BankInovation

Computer Service Inc. (CSI) is joining FIS and Fiserv as the third core provider to partner with Bitcoin fintech NYDIG in a move that will allow community banks to offer the cryptocurrency to customers. The partnership will allow customers to buy, hold and sell — but not spend — Bitcoin. NYDIG has issued a flurry […].

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DAOs and Democracy. A real world example.

Jessica Ellerm

Over the past two years, during the course of this never-ending pandemic, I, along with roughly 1 million other New Zealanders living offshore have faced something we never, ever thought would happen. We’ve been locked out of our own country. While border closures to citizens initially started out as a brute force measure to limit the unknown impacts of an unknown virus, over time they morphed into a metaphorical slap down to any Kiwi that ever dared to dream of exploring what life might l

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3 best practices for automated small business lenders

BankInovation

With an estimated market value of $10.7 billion, the automated lending wave is not expected to crest anytime soon. Market value is expected to increase nearly 100% to $20.5 billion by 2026 on the back of diversifying consumer needs and an uncertain COVID-19 situation, according to a study by market research firm Markets and Markets. […].

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Gouverneur Bank to Acquire Citizens Bank of Cape Vincent

Banking Exchange

Plus German American has completed its merger with Citizens Union Bank of Shelbyville Management Feature M&A Feature3 Community Banking.

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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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EBA warns of detrimental impact of de-risking

The Paypers

The European Banking Authority (EBA) has published its opinion on the impact of de-risking in the EU and the steps authorities should take to tackle unwarranted de-risking.

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US Regional Bank M&A Activity Continues Amid Increased Regulatory Scrutiny

Banking Exchange

2021 saw several US banks announce new transactions despite simmering regulatory pressure Compliance Management Feature M&A Feature3 Compliance/Regulatory Compliance Management Community Banking.

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Payfit Hits $2.1B Valuation And Becomes Europe’s Latest Unicorn — Its Competitors In The Payroll And HR SaaS Space Include Lucca, Personio, And Pento

CB Insights

PayFit , a provider of payroll and HR management solutions for SMEs, has raised $289M in a Series E. The round drew participation from Accel, Eurazeo, General Atlantic, and Large Venture. How’s the company performing? UK-based PayFit helps businesses manage payroll processes, employee expenses and benefits, timesheets, employee onboarding, and other related tasks.

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Netcetera becomes new ACS provider for EML Payments

The Paypers

Payment card technology solution provider EML Payments has partnered with software solutions Netcetera to implement their Access Control Server (ACS) and Risk Based Authentication (RBA) feature.

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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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Climate-risk disclosures are fairly easy. The next steps aren't.

American Banker

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Topaz buys majority in banking software company Cobiscorp

The Paypers

Topaz , the financial solutions arm of the Brazil-based Stefanini Group, has announced the purchase of a majority stake in Cobiscorp , a US-based banking software company.

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Comment on The kaleidoscopic African market, and one acronym you have probably never heard of. by OCBD: Obsessive Compulsive Business Disorder  - Matteo Rizzi

Matteo Rizzi

[…] more active role, as well as some equity. 2022 will hopefully see the Palop region pushed forward (Palop previous post) and I would love to find a mechanism to bring venture investment (seed stage especially) in this […].

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RBI to establish fintech department

The Paypers

The Reserve Bank of India (RBI) has announced it will put together a separate fintech department in view of the segment’s changing landscape.

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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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Despite big influx of capital, Black banks say more is needed

American Banker

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Microsoft survey 2022: priorities change for ecommerce executives

The Paypers

A survey launched by SaaS platform Namogoo in partnership with Microsoft has shown that executives of ecommerce platforms are shifting priorities.

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The CMO Role in Banking is Being Disrupted

The Financial Brand

The success of a bank CMO requires understanding the power of analytics, technology, strategy and agility to drive business results. The post The CMO Role in Banking is Being Disrupted appeared first on The Financial Brand - Banking Trends, Analysis & Insights.

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UK-based FinTech startup Pay iO goes live

The Paypers

Pay iO has announced the launch of its new payment solution for online retailers.

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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.