Thu.Jan 20, 2022

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Roadmap to build future-ready banking operations

Accenture

North American banks are under pressure due to declining net income but bullish in their outlook. They face rising client expectations and regulatory requirements, as well as aggressive new fintech competitors. To combat these challenges, banks need to move towards future-ready operations, grounded in the latest technology with people who know how to use it.

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2022 and You: Cybersecurity Threats and Trends

Jack Henry

It’s that time of year once again – to take a look ahead at what we can expect in cybersecurity for the new calendar year. The effects of the global pandemic continue to impact not just our health but our global economy, and cyber-attackers are just as persistent as those fighting for our wellbeing. Not surprisingly, ransomware is expected to remain a top threat for businesses worldwide.

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U.S. Bank: Technology investments expected to level off in 2022

BankInovation

Technology investment was a major point of focus for U.S. Bank’s fourth-quarter earnings report, but the bank expects investments to remain level in 2022. The $573 billion bank made significant digital banking investments in Q4, acquiring MUFG Union Bank in an $8 billion deal, along with fintechs TravelBank and Bento. However, the level of investment […].

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Accelerated: The Evolution of One Bank’s Product into a Spin-Off Fintech

William Mills

WMA and The Venture Center are back with a new episode of Accelerated, the podcast series that examines the process of fintech-banking deals and how they affect the industry.

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Elevating Accounting Practices: The Power of Outsourcing and Automation in the Digital Age

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.

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Fed takes key step in deciding on U.S. digital-coin issuance

BankInovation

The Federal Reserve took a key step toward the possible issuance of a U.S. digital currency, a move that the central bank said could dramatically alter the American financial system. The Fed on Thursday solicited feedback through a 35-page discussion paper on a government-backed coin, known as a central bank digital currency or CBDC. As […].

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Citizens’ net income climbs nearly 120% YoY as digital portfolio expands

BankInovation

Citizens Financial Group reported net income of $2.3 billion for 2021, up 119% year over year, citing customer gains and a deepening digital product portfolio during its fourth-quarter earnings call today. The $187.5 billion Citizens credits technology as key to its earnings, citing the bank's efforts to "transform and reposition" itself to deliver a "customer-centric […].

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Juro, A Provider Of Contract Management Software For Sales, Raises $23M — Its Competitors In The Broader Contract Automation Space Include Ontra, Malbek, Contractbook, And Ironclad

CB Insights

Juro , a contract automation platform developer, has raised $23M in a Series B. The round drew participation from Eight Roads Ventures, Seedcamp, Union Square Ventures, and Point Nine Capital, among others. HOW’S THE COMPANY PERFORMING? UK-based Juro enables users to automate contract management processes. The company caters to around 6K companies, including Trustpilot, Deliveroo, The Real Real, Quantum Scape, and Cazoo.

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Listen: How banks can de-bias models to stay ahead of potential AI regulations

BankInovation

The most common mistake that companies make with the data when de-biasing artificial intelligence models is to remove obvious indicators such as race, gender and age, and then assume they’ve eliminated bias, David Van Bruwaene tells Bank Automation News in this episode of “The Buzz” podcast. Van Bruwaene is the founder and CEO of Canada-based […].

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Intel gets active in the Bitcoin mining business

The Paypers

Bitcoin mining company Griid has made a significant disclosure in December 2021: a deal with tech conglomerate Intel to provide it with hardware for crypto mining.

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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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Payroll API Provider Pinwheel Raises $50M At A Valuation Of $500M — Its Competitors Include Atomic, Citadel, Check, And Finch

CB Insights

Pinwheel , a payroll API provider, has raised $50M in a Series B. The round drew participation from GGV Capital, American Express Ventures, Coatue Management, and Franklin Templeton, among others. HOW’S THE COMPANY PERFORMING? New York-based Pinwheel helps fintech companies and financial institutions manage direct deposits, verify income and employment information, and streamline other payroll processes.

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ECOMMPAY expands its Open Banking capabilities across Europe

The Paypers

ECOMMPAY , an international payment service provider with its own fintech ecosystem for business growth, has announced the expansion of its Open Banking capabilities to cover Romania, Spain, and Greece.

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CFPB suggests credit card giants may not be playing fair

American Banker

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Nuvei to process payments for online sportsbook operators in NY state

The Paypers

Global payment technology company Nuvei has announced it received approval by the New York State Gaming Commission to process payments with recently licensed digital sports betting platforms that go live in the state.

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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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9 Misunderstood Fintech Trends Impacting Retail Banking

The Financial Brand

Some, like Banking-as-a-Service are widely known. Others, like embedded finance and DeFi are emerging. Not all trends will have equal impact. The post 9 Misunderstood Fintech Trends Impacting Retail Banking appeared first on The Financial Brand - Banking Trends, Analysis & Insights.

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Worldine partners with Kilo Health for expansion plans

The Paypers

Europe-based payments and transactional services company Worldline has been selected by digital health and wellness platform Kilo Health as its digital payments partner to boost the latter’s international expansion strategy.

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Illinois banker group proposes exit fee for credit union-bank deals

American Banker

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Swarmio Media launches Swarmio Pay for gamers

The Paypers

End-to-end gaming and esports platform Swarmio Media has announced the launch of its in-house digital payment and digital wallet solution, Swarmio Pay for the global gaming community.

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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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Private banking and the future of work

American Banker

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Factor4 launches gift card with Maverick Payments

The Paypers

Gift card provider and loyalty solutions company Factor4 has announced a new gift card programme with fintech payments company Maverick Payments.

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M&T plans balance sheet makeover amid sluggish performance

American Banker

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Adatree becomes data gateway for Australian companies

The Paypers

Adatree , a data intermediary fintech at the forefront of Open Banking, has become a gateway for companies wishing to access secure data in Australia.

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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.

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A Facebook for credit unions: One trade group's plan to keep members connected

American Banker

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beep launches NFC-based card loading

The Paypers

Singapore-based cashless payment provider beep has enabled its cardholders with real-time loading of their stored value cards in their mobile app.

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H&R Block’s Retail Bank App Has a Slight Edge: 21 Million Tax Customers

The Financial Brand

Tax firm targets its millions of tax clients for a year-round financial relationship intended to improve financial health. The post H&R Block’s Retail Bank App Has a Slight Edge: 21 Million Tax Customers appeared first on The Financial Brand - Banking Trends, Analysis & Insights.

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EMQ enables real-time payouts for mobile wallets globally

The Paypers

Hong Kong-based fintech EMQ has announced an improvement to its payment capabilities by allowing real-time payouts to mobile wallets in Indonesia.

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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.