Tue.Apr 18, 2023

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Bank Customer Experience Summit to tackle innovative banking/customer trends

ATM Marketplace

The Bank Customer Experience Summit will analyze the cutting edge of customer and banking trends and will be held in tandem with the Interactive Customer Experience Summit in Charlotte, North Carolina from Sept. 11 to 13.

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US payments funding rebounds

Payments Dive

U.S. payments venture funding surged in the first quarter of the year, largely thanks to Stripe’s March funding round, CB Insights said.

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The Concentric Relationship Strategy in Banking

South State Correspondent

In recent articles ( here and here and here ), we discussed why banks that take risks to earn higher revenue demonstrate lower performance as measured by return on assets (ROA). Empirical evidence, historical bank failures, and common sense teach us that many risks do not translate to higher yields. We analyzed why pay-for-risk does not lead to higher performance, whether that risk is credit or interest rate risk.

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FIS executive compensation jumps

Payments Dive

Compensation for FIS CEO Stephanie Ferris and former CEO Gary Norcross jumped significantly last year despite the company’s underperformance.

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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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SCOTUS decision allowing constitutional challenges to FTC and SEC to be brought in federal district court has broader implications

CFPB Monitor

The U.S. Supreme Court ruled last week that parties seeking to challenge the constitutionality of the structure of the Federal Trade Commission and the Securities and Exchange Commission cannot be required to raise such challenges in the first instance before an administrative law judge (ALJ) and may bring such challenges directly in a federal district court. .

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Game of Thrones stars challenge big banks over fossil fuel links

TheGuardian

Kit Harington and Rose Leslie attend ‘couples therapy’ in Richard Curtis film for Make My Money Matter The Game of Thrones stars and real-life couple Kit Harington and Rose Leslie are co-starring in a Richard Curtis short film highlighting the “toxic relationship” between UK high street banks and the fossil fuel industry. The Couples Therapy film is part of Curtis’s Make My Money Matter campaign to raise awareness of how consumers’ cash may be financing industries that are destroying the planet.

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India and Nepal to sign cross-border mobile payments agreement

The Paypers

The governments of India and Nepal have drawn up an agreement to launch the service that will let visitors to Nepal use Indian digital wallets for payments.

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Bank of America personnel, tech spend rises in Q1

BankInovation

Bank of America saw noninterest expenses increase year over year as employee and technology costs increased during the first quarter of 2023. WHY IT MATTERS: The $3.1 trillion bank’s noninterest expenses rose 6% YoY to $16.

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FCA selects NayaOne to build a permanent digital sandbox

The Paypers

Financial Conduct Authority (FCA) has selected NayaOne , a UK-based digital sandbox provider, to build and operate its permanent digital sandbox.

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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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Goldman Sachs tech spend jumps 10% YoY to $466M

BankInovation

Goldman Sachs was focused on growing its Global Banking and Markets, and Asset and Wealth Management businesses in the first quarter of 2023 amid market turbulence.

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Curve now allows users to transfer crypto rewards to external wallets

The Paypers

UK-based super app Curve has introduced a new function that allows users to transfer cryptocurrency rewards to external wallets.

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How a Ripple CBDC project in Montenegro could influence payments globally

American Banker

Payments 101
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The State of Fintech in 5 charts: Funding rebounds due to Stripe, while deals continue to fall

CB Insights

Following the steady decline of investment activity in 2022, global fintech funding increased 55% quarter-over-quarter (QoQ) in Q1’23. Excluding Stripe’s massive $6.5B round, however, funding fell 12%. Deal count also dropped, falling for the fourth straight quarter to hit 983. Using CB Insights data, we highlight some of the key takeaways from our Q1’23 State of Fintech report, including: Global fintech funding grows 55% QoQ in Q1’23; $6.5B is raised by Stripe alone.

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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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Factris secures EUR 50 million in funding round

The Paypers

Netherlands-based fintech company Factris has raised a EUR 50 million funding line from Aegon Asset Management, to expand its SME financing services.

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Washington State Employees Credit Union sells its fast-growing CUSO

American Banker

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Adyen expands payment offerings in Malaysia

The Paypers

Netherlands-based Adyen has expanded its offerings in Malaysia through the launch of its unified commerce solution, which businesses use to flexibly meet consumer expectations.

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SEC's Gensler directly links crypto and bank failures

American Banker

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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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Mangopay extends its partnership with GiftRound

The Paypers

Platform-specific payment infrastructure provider Mangopay has announced its extended collaboration with UK-based GiftRound , in order to process all of its payment flows.

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BofA is cutting jobs in response to rising expenses

American Banker

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GetTransfer.com partners Binance Card to offer exclusive discounts

The Paypers

Cyprus-based GetTransfer.com has partnered with Binance Card to offer exclusive discounts and cashback in crypto for transportation services.

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FDIC sees deposit insurance fund replenishing ahead of schedule

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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Eurora releases report on AI's impact on cross-border trade

The Paypers

Estonia-based platform for cross-border trade compliance Eurora has published a report on how AI can assist in complying with diverse cross-border trade regulations.

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Goldman is considering sale of GreenSky one year after buying it

American Banker

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Central Payments partners with Galileo Financial Technologies

The Paypers

Payments technology provider Central Payments has announced its partnership with US-based Galileo Financial Technologies for a long-term processing services renewal.

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Credit unions' interest rate cap harms both the industry and its customers

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.