Mon.Sep 13, 2021

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7 Highlights from the Latest FDIC Quarterly Banking Profile

Abrigo

Banking Trends from the FDIC's 2Q Report Net interest margin reached a new record low, but positive signs emerged in lending. You might also like this webinar: "The Basics of Consumer Lending." WATCH. Banking Data. Summary of the Latest FDIC Quarterly Profile. Takeaway 1 Nearly two-thirds of banks actually reported higher net interest income, but aggregate net interest income fell.

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3 tenets to automating better and faster

BankInovation

Banks have made substantial investments to make their businesses more resilient, which helped many withstand the worst impacts of the pandemic. But the transition to digital strategies and processes still rates as a big risk, ranking fourth in a recent EY survey of bank chief risk officers. Only credit, cybersecurity and climate-change risk ranked higher, EY […].

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Market Commentary: Week of September 13, 2021

SWBC's LenderHub

Last Week. It was a tough week for stocks as the S&P 500 fell every day of the holiday-shortened trading week. The drumbeat of Wall Street equity analysts and strategists calling for a chilly fourth quarter got louder and louder as the week went on. With COVID-19 once again on the rampage, global economic forecasts—as well as actual data—seem to be telling a gloomy story.

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Bank of America partners with Indian school for new innovation center

BankInovation

As the pace of automation innovations accelerates, Charlotte, N.C.-based Bank of America is partnering with the Indian Institute of Management Ahmedabad (IIMA) — India’s premier global management school — to launch the Centre for Digital Transformation. The Centre, launched August 26, aspires to become a vibrant knowledge hub for academia, policymaking and the private sector […].

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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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Designing a Useful, Usable, and Desirable Digital Payments Experience

SWBC's LenderHub

We’ve all heard the term user experience (UX) a lot in recent years, but what does UX actually mean for financial institutions and their digital payments platforms ? In this blog post, we’ll let you know why UX design should be a vital part of your digital strategy. We’ll also discuss the top three factors that can make or break your borrowers’ digital payments experience.

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Stock market pullback likely by year end, Deutsche Bank survey finds

TheGuardian

Poll of investors finds possibility of new Covid-19 variants poses biggest risk to stability More than two-thirds of investors are anticipating a stock market pullback before the end of the year, research suggests, amid concerns over growth prospects and the Covid-19 Delta variant. According to a poll of over 550 global investors by Deutsche Bank, an equity correction sometime before the end of the year is “an overwhelming consensus now”, with 58% forecasting a drop of 5% to 10%.

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Allegro launches fulfillment service for selected merchants

The Paypers

Allegro , a Poland-based ecommerce platform, has launched the pilot stage of a new fulfillment service where selected merchants will be able to store, sell, and replenish their merchandise.

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Mastercard Acquires CipherTrace — A Crypto-Focused Analytics Firm Providing Anti-Money Laundering And Forensics Technology

CB Insights

Mastercard , a global fintech platform, acquired CipherTrace , a blockchain analytics and cryptocurrency intelligence software provider, for an undisclosed amount. The deal is expected to close by the end of 2021. Who are the parties to the deal? CipherTrace: California-based CipherTrace provides blockchain analytics and fraud detection tools in order to help financial institutions, banks, and governments identify digital asset risks.

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Wells Fargo fined USD 250 mln

The Paypers

The Office of the Comptroller of the Currency (OCC) has fined Wells Fargo with USD 250 million because of the issues related to stemming from the bank's mortgage loss modification practices.

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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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Why some backers of student lending product welcome CFPB crackdown

American Banker

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Travel and hospitality businesses can increase profits through engaged digitalisation

The Paypers

Europe’s travel and hospitality industries have been heavily impacted by the pandemic. In this article, Rohit Anhal , International Partnerships and Business Development Lead at Worldline, explains what travel and hospitality vendors can do to embrace digitalisation and stay ahead of the curve.

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Big banks emphasize diversity in capital markets deals

American Banker

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Interswitch partners Codebase Technologies

The Paypers

Interswitch has partnered with Codebase Technologies (CBT) , a global Open API Banking solution provider, to accelerate the digital banking transformation across the African continent.

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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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People Love Digital Banking, But Will They Surrender All Their Data?

The Financial Brand

The shift to an online landscape revolutionized banking. The industry is evolving how it shares data but consumers aren't prepared. The post People Love Digital Banking, But Will They Surrender All Their Data? appeared first on The Financial Brand - Banking Trends, Analysis & Insights.

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Wells Fargo launches Integrated Receivables

The Paypers

Wells Fargo has announced the availability of Integrated Receivables, a new Accounts Receivable (AR) service that helps simplify payment and remittance data capture, re-association, and invoice matching.

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Facial recognition tech is catching on with banks

American Banker

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Socure and SpecTrust partner for improved security solutions

The Paypers

Socure and SpecTrust have partnered to offer the recently launched SpecTrust ROAM to work in conjunction with the Socure ID+ digital identity verification and fraud solution.

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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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Rural Georgia bank primed for growth under new ownership

American Banker

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bunq partners with Paysafe to enable cash deposits for digital banking

The Paypers

bunq , a Netherlands-based mobile banking platform, has partnered with Paysafe to provide customers with access to cash services.

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3 Reasons Why Branch Sales Are Suffering (and Could Get Worse)

The Financial Brand

Less-mobile consumers, new banking channels, changes in staffing models and growth factors that won't be repeated all bode ill for sales. The post 3 Reasons Why Branch Sales Are Suffering (and Could Get Worse) appeared first on The Financial Brand - Banking Trends, Analysis & Insights.

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Pine Labs partners with OneCard

The Paypers

Pine Labs , an India-based payment service provider has partnered with credit card company OneCard to extend its monthly installments offering to all OneCard credit card holders.

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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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California credit union gains CDFI certification

American Banker

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Subaio and ABN AMRO digitise recuring payments for families of deceased

The Paypers

Denmark-based fintech Subaio , in partnership with ABN AMRO has launched a solution for surviving family members who wish to understand the recurring payments of deceased loved-ones.

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Your bank is probably squandering a huge source of customer data

American Banker

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NymCard joins forces with Zwipe

The Paypers

NymCard , a UAE-based Banking-as-a-Service provider, has partnered with credit card company Zwipe to launch biometric payment cards in the Middle East and Africa.

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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.