Wed.Oct 20, 2021

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4 Ways Financial Institutions Can Get Buy-in for Their Latest Tech Investment

Abrigo

How to Get Buy-in When Implementing New Technology Achieving 100% adoption is attainable if financial institutions are willing to put the best change management practices in place. You might also like this whitepaper, on optimizing change management. DOWNLOAD. Takeaway 1 One of the most important pieces to garnering employee buy-in for new technology is communication.

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Sunak to cut tax on banks to keep City competitive, say reports

TheGuardian

Chancellor said to be planning to slash corporation tax surcharge from 8% to 3% from April 2023 Rishi Sunak is preparing to announce a tax cut for Britain’s biggest banks at next week’s budget to maintain the competitiveness of the City of London after Brexit, according to reports, despite plans to raise taxes on workers. Ahead of the setpiece budget and spending review next week, the Financial Times said the chancellor planned to slash the corporation tax surcharge imposed on the banking indust

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Fifth Third takes ‘head-to-head’ approach with fintechs, big banks

BankInovation

As it undergoes a core upgrade, builds on its digital banking services and continues to increase technology spend, Fifth Third Bank is targeting competition from fintechs and larger banks with a key advantage: its brick-and-mortar assets. "Our objective is to go head to head with the fintech players, the large bank competitors that we have […].

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Another 48 Lloyds and Halifax bank branches to close

TheGuardian

Union condemns move by banking group, which announced multibillion-pound profits in July Lloyds Banking Group is closing a further 48 branches, in a move condemned by a trade union as a “classic example of putting profits before people”. The group, which announced multibillion-pound profits in July, will shut 41 Lloyds Bank and seven Halifax branches across England and Wales between January and April 2022.

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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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Citizens’ active mobile users jump by 20% YoY

BankInovation

Citizens Financial Group is pushing usage of its mobile and digital channels in hopes of shifting branches to focus on providing advice to customers. The $186.1 billion bank reported 1.7 active mobile users — a 20% year-over-year increase — during today’s third-quarter earnings call. Digital active users are “incredibly high, with over 80% of the […].

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Consumer groups urge CFPB to regulate fee-based earned wage access products as credit

CFPB Monitor

A group of 96 organizations and individuals, who describe themselves as consisting of “consumer, labor, civil rights, legal services, faith, community and financial organizations and academics,” have sent a letter to the CFPB urging the Bureau to regulate fee-based earned wage access (EWA) products as credit subject to the Truth in Lending Act. EWA products provide employees with access to earned but as yet unpaid wages.

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Neobanks offer challenges and opportunities for traditional banking sector

Banking Exchange

27% of consumers now have relationships with neobanks Retail Banking Financial Trends Feature Lines of Business Technology Feature3 Fintech Mobile Online Neobanks.

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The Top 50 Blockchain Companies Of 2020: Where Are They Now?

CB Insights

In 2020, 50 private blockchain companies from 14 countries made it to the CB Insights Blockchain 50. They were selected from a pool of 2,700 companies based on factors including business models, market potential and momentum, competitive landscape, team strength, investor profiles, data submitted by the companies, and proprietary Mosaic scores. GET THE LIST OF BLOCKCHAIN 50 COMPANIES.

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Pandemic Prompts Jump in Online and Mobile Banking

Banking Exchange

Changes in digital habits expected to be permanent The Economy Technology Mobile Online Tech Management Digital Feature Feature3.

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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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Smart Fintech gets Open Banking authorisation in Romania

The Paypers

Romania-based Smart Fintech has announced a new authorisation from the National Bank of Romania, becoming licensed on both Open Banking segments.

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ABA elects Zions Bank CEO as chair

Banking Exchange

Election was held recently in Tampa, Florida Management Feature Human Resources Feature3 Community Banking.

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Start Now to Save for the Holidays

FirstInternet

The holidays are nearly here, and you can feel the anticipation growing. The days are getting shorter – and colder. Decorations are popping up everywhere and the kid in you is totally ready to come out. Let’s face it…it’s exciting to surprise friends and family members with the perfect gift – the one you’re absolutely certain they’ll love. But remember, it’s also important to budget wisely – even when you are surrounded by those blockbuster sales and enticing ads.

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HSBC to launch Banking as a Service solution

The Paypers

HSBC has announced the launch of a Banking as a Service (BaaS) offering that will help customers to create and provide business banking services through their own platforms.

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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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Employee Spotlight: Emily Dunlap

Image Works Direct

Born and raised in a small Wisconsin town, senior graphic designer Emily has dedicated a large portion of her life to image.works. As our longest-standing designer, Emily has spent more than a decade and a half helping build IW from the ground up and still finding the magic in what we do and the clients we serve.

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NPCI launches NTS platform for Card tokenisation

The Paypers

National Payments Corporation of India (NPCI) has announced the launch of NPCI Tokenisation System to support tokenisation of cards, an alternative to storing card details with merchants.

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G-SIBs emerge from pandemic in good shape but new risks loom

The Banker

The top 30 global systemically important banks’ diversification and scale helped them contend with Covid-19, but technological disruption poses a bigger challenge.

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Citizens Financial eyes more wealth management acquisitions

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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4 Things You Should Know About Geographical Lists

Image Works Direct

Geographical lists – they let you target individuals based on their location, right? Well, yes… but there’s more to it than that!

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Blend rolls out income verification service for gig economy workers

American Banker

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How Financial Institutions Can Stop Chasing Their Tail Digitally

The Financial Brand

Most banks and credit unions approach innovation by product or channel, leaving them struggling to keep pace with digital banking leaders. The post How Financial Institutions Can Stop Chasing Their Tail Digitally appeared first on The Financial Brand - Banking Trends, Analysis & Insights.

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What banks want most from young fintechs

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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Zwipe and IC Payment to offer biometric payment cards to banks in LATAM

The Paypers

Norway-based fintech Zwipe has partnered with Chile-based fintech IC Payment to offer biometric solutions in LATAM and Caribbean markets.

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Stripe buying Recko to improve payment accounting

American Banker

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Top Mortgage Lending Trends for 2022

The Financial Brand

Despite some uncertainty over the duration of the home buying boom, banks and credit unions must adapt to technology and demographic changes. The post Top Mortgage Lending Trends for 2022 appeared first on The Financial Brand - Banking Trends, Analysis & Insights.

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Regional banks see signs of life in commercial lending

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.