Thu.Feb 17, 2022

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Data, Data Everywhere. But What Are We to Think?

Jack Henry

Like that parched and ancient mariner surrounded by an undrinkable sea, it’s a special kind of torture to be awash in glorious data and not able to use it. And it stings even more knowing data analytics is critical to being able to serve your accountholders at their moment of need.

Data 148
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An unintended consequence of holding dollar assets

BankUnderground

Robert Czech, Shiyang Huang, Dong Lou and Tianyu Wang. During the March 2020 ‘ dash for cash ’, 10-year gilt yields increased by more than 50 basis points. This huge yield spike was accompanied by the heavy selling of gilts by mutual funds and insurance companies and pension funds (ICPFs). Focusing on the latter group, we argue in a recent paper that ICPFs’ abnormal trading behaviour in this period was partly a result of the dollar’s global dominance: ICPFs invest a large portion of their

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Low code and no code fintech solutions put banks in the driver’s seat

BankInovation

Competition in the financial services landscape is growing and today’s influx of neobanks and non-bank entrants makes it fiercer than ever. Many of these fintechs are beginning to eat away at traditional financial institutions’ market share for products and services at unprecedented levels and they are doing so by offering first-class end-to-end online customer experiences. […].

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This week’s podcast: A deep dive into mass arbitration: Part I, with special guest Maria Glover, Professor of Law at Georgetown University Law Center

CFPB Monitor

Prof. Glover is the author of the first major academic study of mass arbitration, which is soon to be published as a law review article. In Part I of this two-part podcast, after reviewing the historical background of the Federal Arbitration Act, key SCOTUS arbitration decisions, and the evolution of mass arbitration, Prof. Glover discusses the findings of her case study, the legal viability of mass arbitration, investments being made by the plaintiffs’ bar in the use of mass arbitration, and t

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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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Kristy Younger, Wells Fargo’s head of commercial banking intelligent automation, joins Bank Automation Summit

BankInovation

Kristy Younger, head of commercial banking intelligent automation at Wells Fargo, will join a panel on “Modernizing Commercial Lending through Automation” Tuesday, at 3:45 p.m. ET at the Bank Automation Summit 2022, to be held March 1-2 at JW Marriott in Charlotte, N.C. The panel will cover use cases for new loan origination processes, developments […].

More Trending

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Crypto firms including Coinbase, Gemini work together to meet U.S. money-laundering rule

BankInovation

Coinbase Global Inc., Gemini Trust Co. and Robinhood Markets Inc. are among firms helping to build a platform to comply with a U.S. money-laundering rule as crypto and financial-technology companies seek to satisfy existing requirements and head off stricter oversight. A group of 18 companies is setting up the platform to help meet conditions of […].

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Debunking the Five Myths of Loan Growth

The Emmerich Group

“If you want to reach people no one else is reaching, we’ve got to do things no one else is doing.” Andy Stanley said that, and it starts my chapter on debunking the five biggest myths of loan growth in my Breakthrough Banking Blueprint book. Those five biggest myths, sadly, are crushing net interest margin. Continue Reading. The post Debunking the Five Myths of Loan Growth appeared first on Roxanne Emmerich.

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Ethereum wallet Rainbow raises $18M from Alexis Ohanian. Rainbow competitors include MetaMask, Trezor, Argent, and Exodus.

CB Insights

Rainbow , an Ethereum wallet, has raised $18M in a Series A round that drew participation from Reddit co-founder Alexis Ohanian’s venture firm Seven Seven Six. HOW’S THE COMPANY PERFORMING? New York-based Rainbow has developed a user-friendly Ethereum wallet. The app enables users to connect with decentralized applications and invest in tokens through decentralized exchanges.

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Comdirect launches sustainable robo advisor

The Paypers

Germany-based digital asset manager comdirect has announced expanding its offering by launching the sustainable robo advisor cominvest green.

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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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4 ways to prevent business fraud.

PopularBank

No business is immune to fraud, and small businesses are especially at risk. Small businesses experience fraud at a 42% higher frequency than large corporations. Fraudulent activity can have lasting financial consequences for business owners. There are steps small businesses can take to prevent business fraud. 1. Safeguard computers and technology. Employees utilize a lot of technology to get the job done.

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Banking disruptions foster open network opportunities

BankInovation

With digital demand and tech awareness rising sharply, banks should keep new disruptions in mind as they strike a balance between legacy processes and new automations. Automated lending and cloud-native capabilities are chief drivers of transformation in U.S. retail banking, but some areas continue to lag. As fintechs and challenger institutions disrupt business functions, including […].

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Yapily launches Open Banking solution on AWS Marketplace

The Paypers

Open Banking infrastructure provider Yapily has launched its first listing on AWS Marketplace , a digital catalogue featuring more than 12,000 products and services.

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H&R Block turns to MX, Galileo to power its Spruce banking app

American Banker

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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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Tinkoff selects BPC's SaaS payment services for Asia expansion

The Paypers

Tinkoff has selected BPC ’s SaaS Cloud payment services for its planned expansion to the Philippines.

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When iPhones become card readers, how will terminal makers respond?

American Banker

Cards 83
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LexisNexis' study says banks and fintechs were hit hard by SMB lending fraud

The Paypers

LexisNexis Risk Solutions has released its latest SMB Lending Fraud Study, which reveals that this type of fraud increased 6.9% in the US since 2020.

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Massachusetts deal signals return of larger credit union mergers in 2022

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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Russia to allow crypto mining operations in specific areas

The Paypers

Russia’s Ministry of Economic Development has greenlighted the concept of crypto mining regulation in the country, proposing to allow mining operations in areas with sustainable surplus in electricity generation’

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BNY Mellon would consider big acquisition, but bar is ‘really high’

American Banker

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AuthenticID partners with 1Kosmos for identity proofing and authentication

The Paypers

AuthenticID has teamed up with 1Kosmos to provide identity proofing and authentication solutions for governments, businesses, and individuals.

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Notre Dame Federal Credit Union in Indiana completes purchase of trust firm

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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BankiFi partners with TSB to launch app for SMEs

The Paypers

BankiFi has partnered with TSB to launch Revenu, an app, exclusive to TSB that will allow small businesses to receive quicker payments and to better manage their business finances.

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MoneyGram's many suitors

American Banker

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Open Banking passes the 5 million users milestone in the UK

The Paypers

OBIE has announced that there are now more than 5 million active users of Open Banking services in the UK based on data provided during January 2022 by the CMA9.

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Small businesses still face $28 billion of unforgiven PPP loans

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.