Thu.Nov 18, 2021

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Lucas Stangl of Merchants Bank Earns Accredited ACH Professional Certification

MerhantsBanks

Lucas Stangl has earned the Accredited Automated Clearing House Professional (AAP) designation according to Kerri Bronk, Vice President/Senior Operations/eChannel Officer for Merchants Bank. “We strive to be a resource for our customers and Lucas becoming an AAP exemplifies our commitment to being a true financial partner. Automated Clearing House payments can be complicated so having […].

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6 evolving trends in financial crime

BankInovation

With a footprint in markets worldwide as well as anti-fraud and anti-money laundering (AML) efforts in finance, online global marketplace provider Nasdaq has a front-row seat to evolving trends that invite in bad actors. The company has been working to root out abuses like stock manipulation and insider trading for years, more recently expanding to […].

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Confessions Of A Shopaholic | How To Curb Your Spending Habits

BankBazaar

Ever reach a point at the end of the month where you just pause and wonder where all your money went? Well, welcome to the club! . No matter how many times the little voice in your head hopelessly chants “Spend less, spend less…”, it often leads you nowhere. Be it splurging on those new pair of sneakers or that handbag you just can’t live without, one thing remains constant – your pockets are lighter, and often – emptier!

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Thiel-backed bank N26 to close 500,000 accounts in U.S. exit

BankInovation

N26 GmbH will discontinue its U.S. operations in the latest setback to the expansion plans for the German digital bank, which was recently valued at more than $9 billion. The Berlin-based company will pull its offerings from the U.S. by Jan. 11 to prioritize expansion in Europe, it said in a statement on Thursday. The […].

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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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Tactfully Overcoming the Top 5 Delinquent Borrower Objections

SWBC's LenderHub

It’s been a tough 18 months for millions of Americans. The COVID-19 pandemic caused major job losses and employment interruptions, families have had to navigate paying for childcare services after working remotely for over a year, and savings from 2020 stimulus checks and extended unemployment benefits are starting to run dry for many.

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Payments for the Most Valuable

Jack Henry

Community banks and credit unions strive to build solid relationships with the consumers and small businesses that form the bulk of their accountholder base, but almost every community bank and credit union has a small collection of larger businesses that provide critical revenue and receive a lot of attention from branch staff, lending officers, and senior managers.

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Blockchains could save banks $10B in cross-border payments costs by 2030

BankInovation

Cross-border payments in their current form tend to be slow, costly and offer limited transparency and traceability. Deploying blockchains — a technology used to maintain shared ledgers across a network of computers — could speed transfers, saving banks $10 billion by 2030, according to a recent report from U.K.-based research firm Juniper. Players offering blockchain-based […].

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CFPB issues request for information regarding assessment of HMDA rule

CFPB Monitor

Earlier this week, the CFPB issued a Request for Information (RFI) regarding an assessment of the significant amendments to the Home Mortgage Disclosure Act rules, known as Regulation C, adopted in October 2015 and subsequently revised in several additional rulemakings (the “HMDA Rule”). Responses to the RFI will be due 60 days after it is published in the Federal Register.

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Accelerated: Agora and Seattle Bank

William Mills

Tune into our latest episode of Accelerated, a podcast dedicated to giving a behind-the-scenes look at how fintech-banking deals are made and why they’re essential to the overall industry.

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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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This week’s podcast: CFPB Director Chopra’s targeting of “digital” or “algorithmic” redlining: What it means for providers of technology and consumer credit

CFPB Monitor

After reviewing federal regulators’ traditional theory of redlining, we discuss the types of underwriting practices that are likely targeted by Director Chopra’s recent comments expressing concern about “algorithmic redlining,” examine how the use of machine learning (ML) underwriting models incorporating alternative data can be more inclusive than traditional logistic regression models and result in more approvals for protected class members and “credit invisibles,” and offer our thoughts on ac

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Improve Your Bank-Customer Relationship

The Emmerich Group

What are your customers saying about you? Do they have brand awareness? Or do they have brand insistence? You see, the degree to which you create a customer relationship with every customer at your bank is the degree to which you become their only banker that’s necessary. Now those words are easier said than done. Continue Reading. The post Improve Your Bank-Customer Relationship appeared first on Roxanne Emmerich.

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‘Terminated’ takeover of Metro Bank blow to idea of challenging old guard

TheGuardian

Failure of talks shows bank consolidation at bottom end of industry never seems to achieve momentum That didn’t last long. Two weeks ago, Metro Bank said it was in discussions about a takeover approach from private equity giant Carlyle. Now, the talks are “terminated” for reasons neither side is prepared to state. As it headed to the exit, Carlyle didn’t even offer a few polite words of encouragement for the Metro management crew trying to revitalise a lender whose go-go expansion plans were blo

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The secrets to unlocking alpha in fixed income trading

The Banker

New developments in electronic fixed income trading will facilitate a much better experience for trading desks and clients alike in the private banking space

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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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Metro Bank shares slump after US buyer ends takeover talks

TheGuardian

Troubles for challenger bank continue, with Carlyle Group saying it was no longer interested Metro Bank shares have slumped after the US private equity firm Carlyle Group said it had ended its interest in buying the UK challenger bank. Carlyle said it had agreed with the bank “to terminate discussions regarding a possible offer”. Continue reading.

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Tomorrow’s Winners Start Today by Making Better Decisions

FICO

Over the years we have seen a large number of organisations improve their market position by implementing decision strategies that enabled them to quickly bring innovative products to market, improve customer satisfaction, or implement a pricing strategy that keeps them ahead of the competition. But these successes don’t happen overnight. Today’s winners made the decision to become disciplined and set-up top-performing infrastructures that enable them to implement strategies at speed and scale ,

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Mercury Mastercard to be available for digital wallets

The Paypers

Mercury Financial has announced that its Mercury Mastercard will be available for digital wallets, increasing accessibility to payment platforms for underrepresented communities.

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Rich countries must pay up to keep 1.5C alive | Letter

TheGuardian

Colin Hines and Richard Murphy call for ‘climate quantitative easing’ to keep up hopes of hitting climate targets Rebecca Solnit’s inspiring long read ( Ten ways to confront the climate crisis without losing hope, 18 November ) correctly emphasised the need to maintain hope when tackling the climate crisis by acting collectively, being tenacious through constant campaigning, despite setbacks, and listening to those whom the climate crisis most directly affects.

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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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New updates for Google Pay India introduce Hinglish

The Paypers

Giant tech Google has announced new features for its Google Pay payment service for its Indian customers, including support for Hinglish language.

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Credit unions dealt blow in bid to expand membership

American Banker

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Pomelo Pay raises USD 10 million

The Paypers

UK-based digital payments company Pomelo Pay has announced that it has raised USD 10 million in Series A round led by UK-based investment firm Inference Partners to fuel its growth.

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Nonbanks gain upper hand in commercial real estate lending

American Banker

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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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UniTeller and Thunes collaborate to expand services in APAC and Africa

The Paypers

US-based remittance payments processors UniTeller has partnered with Singapore’s global payments network Thunes to continue its global expansion in emerging markets in Africa and Asia Pacific.

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Digital Banker of the Year: Truist's Dontá Wilson

American Banker

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Fraugster partners with IXOPAY for improved secure payments

The Paypers

Austrian-based payment orchestration platform IXOPAY has partnered with AI fraud prevention Fraugster to provide merchants with fraud prevention and compliance solutions.

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A bipartisan grilling for OCC nominee

American Banker

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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.