Tue.Feb 01, 2022

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3 reasons Bitcoin ATMs are no fad

ATM Marketplace

It seems like Bitcoin ATMs exploded overnight. While previously only concentrated in big cities, now I see them everywhere in places ranging from gas stations to used games stores. These Bitcoin ATMs are no mere fad; in fact, they will be an enduring trend for some time for a few reasons.

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New Trends Redefining the Role of Community Banks

Independent Banker

The banking industry remains in flux. 2021 introduced new challenges for traditional banks, from the added competition of digital-only entrants to shifting consumer banking behaviors and lingering fallout from the ongoing COVID-19 pandemic. However, there was one steadfast constant: the increased demand for digital banking experiences and rising digital expectations from consumers and businesses alike.

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How to provide more transaction clarity & reduce friendly fraud

BankInovation

In 2020, 1 in 5 consumers shopped online for the first time and experienced a lack of transaction clarity. Issuers are facing a record level of friendly fraud claims due to a combination of cardholder miscommunication, user error, and access to basic merchant information in transaction records. High friendly fraud volume not only overwhelms back-office […].

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State Of Blockchain 2021 Report

CB Insights

Global blockchain deals and dollars shattered records in 2021. Funding grew 713% year-over-year as investors poured money into crypto and NFT startups. In our State Of Blockchain 2021 Report, we dig into global investment trends to spotlight takeaways like: What drove the biggest year in blockchain funding yet — and what’s on the horizon. The record unicorn count, unicorn birth trends, and the highest-valued startups to close out the year.

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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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New ransomware White Rabbit targets US bank

BankInovation

A new family of ransomware — called “White Rabbit” — could be targeting banks. A U.S. bank was attacked in December, according to security firm Trend Micro. Although Trend Micro didn't provide attack specifics, ransomware attacks typically steal customer account data and threaten to release it – typically on the dark web -- unless the […].

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FBI issues warning on QR code payment fraud

BankInovation

The shift to digital banking and payments is enabling cybercriminals to steal consumers’ login and financial information using quick response (QR) code manipulation. The FBI has responded, issuing a warning and associated guidance on QR code payments for consumers, leading companies and analysts alike to reexamine the state of play. QR codes — a type […].

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Words which travel the world: global spillovers of the Fed information effect

BankUnderground

Marco Pinchetti and Andrzej Szczepaniak. It is certainly not a mystery that the Fed’s monetary policy is of great importance for financial markets and the global economy. However, in a recently published Staff Working Paper , we show that the Fed’s monetary policy measures are not the only valuable piece of information contained in the Fed’s announcements.

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Cryptocurrency Tax Management Software Provider CoinTracker Valuation Climbs To $1.3B. CoinTracker Competitors Include TaxBit, ZenLedger, And CryptoTrader.Tax.

CB Insights

CoinTracker , a cryptocurrency tax management software provider, has raised $100M in a Series A. The round drew participation from Accel, Coinbase Ventures, General Catalyst, Y Combinator, and Initialized Capital, among others. HOW’S THE COMPANY PERFORMING? California-based CoinTracker enables crypto investors to track portfolio performance and taxes.

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Ingenico receives RNIB certification for its Android payment terminal

The Paypers

France-based payments company Ingenico has gotten certification by the Royal National Institute of Blind People (RNIB) in the UK for its AXIUM DX800 payment terminal for the visually impaired.

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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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Fed’s Bowman to Speak at Conference for Community Bankers

ABA Community Banking

Federal Reserve Governor Michelle Bowman, who holds the designated community bank seat on the board of governors, will speak during ABA’s Conference for Community Bankers, taking place Feb. 20-22 in Palm Desert, California. The post Fed’s Bowman to Speak at Conference for Community Bankers appeared first on ABA Banking Journal.

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iValue InfoSolutions partners 1Kosmos for multi-factor authentication

The Paypers

India-based iValue InfoSolutions , a technology enabler, has announced their collaboration with 1Kosmos , a multi-factor authentication expert.

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Four Technology Trends Radically Altering the Banking Model

The Financial Brand

2022 looks to be a turning point for the industry amid the rise of platform business models, ecosystems, AI and end-to-end digitization. The post Four Technology Trends Radically Altering the Banking Model appeared first on The Financial Brand - Banking Trends, Analysis & Insights.

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EBA launches central database for AML/CFT

The Paypers

The European Banking Authority (EBA) has launched its central database for anti-money laundering and counter-terrorist financing (AML/CFT).

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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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Google adds support team for blockchain technology

American Banker

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MYPINPAD partners with CabCard Services to bring mobile payments to Taxis

The Paypers

UK-based payment service provider for the taxi sector, CabCard , has incorporated MYPINPAD ’s SoftPOS technology, allowing taxi operators to accept card payments.

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KeyCorp hires new chief diversity, equity and inclusion officer

American Banker

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Bambuser partners with LVMH for One-to-One live video shopping solution

The Paypers

Sweden-based live video shopping provider Bambuser has teamed up with LVMH Moët Hennessy Louis Vuitton (LVMH) by adding to the existing Master Agreement, One-to-One live video shopping.

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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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Expenses expected to keep weighing down bank profits

American Banker

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US AFP survey: 73 per cent of businesses to switch to electronic payments

The Paypers

The Association for Financial Professionals (AFP) has conducted a survey on US-based professionals regarding their payments processes and revealed that 92% of organisations still use paper checks.

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Fintechs merge to combine consumer, business loan tech for banks

American Banker

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MANTL launches automatic business account opening service

The Paypers

US-based banking service provider MANTL has launched a business account opening service that automates up to 97% of new account decisions whether online, in person, or ‘in the field.

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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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Banks Spend Billions on Digital Transformation, But What’s The Payoff?

The Financial Brand

Feeling the pressure of rising digital demands, banks are investing to improve customer experience, but lack confidence in their progress. The post Banks Spend Billions on Digital Transformation, But What’s The Payoff? appeared first on The Financial Brand - Banking Trends, Analysis & Insights.

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AstroPay rolls out cryptocurrency trading

The Paypers

Online payment solution AstroPay has launched its cryptocurrency offering, allowing clients to buy and sell crypto on the company’s platform and mobile app.

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TD Bank joins lenders revamping overdraft fees amid criticism

American Banker

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Vroozi launches accounts payable and invoice automation platform

The Paypers

US-based Vroozi has announced the general availability of Vroozi Intelligence, a smart accounts payable and invoice automation (APIA) platform.

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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.