Mon.Feb 07, 2022

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Growth beyond digital banking: A new day dawns

Accenture

It’s time to stop talking about digital banking as though it’s an end game. Today’s digitalization is just the first step in the more holistic transformation to come. In the first of my focused insights on the Future of Banking, I’ll discuss a few of the meaningful changes banks need to undertake in order to…. The post Growth beyond digital banking: A new day dawns appeared first on Accenture Banking Blog.

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Market Commentary: Week of February 7, 2022

SWBC's LenderHub

Last Week. The best way to describe last week is, “the week of the hawk." On Thursday, the Bank of England became the first of the major central banks to raise policy rates 25 basis points with four members of the BOE’s committee calling for a 50-basis point hike. Not to be outdone, the uber-dove ECB signaled its readiness to remove extraordinary monetary accommodation, setting off a rout in European Government Bonds.

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To buy or build? Choosing the best path for digital transformation

BankInovation

Modern, cloud-based digital technology is a must-have for financial institutions seeking to enhance the customer experience, improve operational effectiveness, streamline internal communications and allow access to data across the enterprise. For years, the only option was to develop these technologies in-house. While this “build” approach offers some benefits, such as greater control over implementation and […].

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Consumer Credit Is on the Rise—What It Means for Your Borrowers

SWBC's LenderHub

As we kick off 2022, pandemic blues are still very much part of our daily lives and many Americans are contributing to the economic recovery by spending their feelings. They’re buying more cars (or trying to, with current semiconductor shortages), finally taking COVID-rescheduled vacations, and returning to retail shops and movie theaters.

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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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Fiserv to acquire cloud-native banking solution Finxact

BankInovation

Fiserv and Jack Henry made announcements today that show core providers are shifting their strategies to the cloud. Fiserv — an early investor in Jacksonville, Fla.-based core-as-a-service provider Finxact — plans to acquire the remaining ownership of the company for approximately $650 million, Fiserv said in an announcement. Through the acquisition, Wisconsin-based Fiserv will acquire […].

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Listen: Conversational AI for banks should ‘orchestrate’ customer interactions

BankInovation

Conversational artificial intelligence (AI), such as chatbots and virtual assistants, should facilitate enhanced communications between financial institutions and their customers rather than function as tech for tech’s sake. Key to a successful conversational AI framework is the ability to “orchestrate” a conversation between an agent and customer, providing context for both parties and increasing interaction […].

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Easy Hacks To Master Your Money This Year

BankBazaar

The journey to mastering your money starts with the first step – smart saving. Take those baby steps today with these simple practices. A penny saved is a penny earned as the saying goes. However, if this is easier said than done for you, here are a few easy ways to start taking those baby steps towards building your savings this year. If you’re someone who is regularly turning out your bare pockets towards the end of every month and eagerly awaiting a fresh infusion of cash in the form of your

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How Credit Limit Increase Optimization Drives Portfolio Profit

FICO

Credit limit management is regarded as a key driver to profitable portfolios. But despite this, many issuers fail to apply advanced prescriptive analytics to a crucially important process, or if they have, it may often be without a framework or infrastructure to maximise the effectiveness of the insights it can bring. Credit limit increase optimization (CLI) is a powerful tool to achieve portfolio goals.

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Barclays, Rainmaking partner for new fintech initiatives

The Paypers

Barclays Bank has formed a strategic partnership with corporate venture builder Rainmaking , through which it will launch a new suite of initiatives for global fintechs, according to Open Banking Expo.

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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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Health care workers are quitting in droves. Can flexible paydays help?

American Banker

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Railsbank will raise USD 100 mln, getting closer to Unicorn status

The Paypers

UK-based BaaS and fintech Railsbank has announced it is in the process of receiving USD 100 million in a new round of funding, getting closer to its valuation of over USD 1 billion.

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Fiserv acquiring bank tech provider Finxact

American Banker

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Sokin partners with Visa to roll out digital accounts to Asia Pacific

The Paypers

UK-based payments provider Sokin has partnered with Visa , preparing to roll-out its Global Currency Account and debit cards across Asia Pacific.

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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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The road ahead for Meta’s Diem under Silvergate Bank’s ownership

American Banker

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NFT wash traders unprofitable, report shows

The Paypers

Findings from Chainalysis have shown that the NFT space is prone to wash trading, but fraudsters are not profiting.

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Former Manafort banker sentenced to year in prison for bribery

American Banker

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Nordigen, Simbase partner for automated accounting processes

The Paypers

Freemium Open Banking platform Nordigen has teamed up with technology developer expert Simbase to help retrieve transactional data to streamline internal accounting procedures.

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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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Texas trade group creates platform to help small banks keep up with tech

American Banker

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Infibeam to bring technology that converts smartphones into 'payment terminals'

The Paypers

India-based digital payments provider Infibeam has announced it looks to broaden its payment solutions portfolio by offering a no-hardware contactless mobile point of sale (POS).

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Fed, OCC set public hearing on U.S. Bank-Union Bank deal

American Banker

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Mode partners Heroes to offer salaries in Bitcoin

The Paypers

UK-based fintech Mode has partnered with technology-driven ecommerce platform Heroes , which will allow employees of the firm to take some of their monthly salary in Bitcoin.

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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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Acting FDIC chief signals shifts on climate risk, merger review, crypto

American Banker

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Vivid receives EUR 100 million from investors

The Paypers

Germany-based smartphone bank Vivid Money has completed a EUR 100 million financing round.

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Pennsylvania credit union finds merger partner after its sponsor is sold

American Banker

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Commercial Bank of Dubai partners with Postpay

The Paypers

Commercial Bank of Dubai (CBD) has approved a debt financing deal with Postpay , an omni-channel Buy Now, Pay Later (BPNL) provider in the Middle East.

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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.