Thu.Jun 10, 2021

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Q1 2021 US credit card issuer snapshot

Accenture

Key themes Purchase volume has continued to show signs of recovery and most issuers are now reporting YoY growth for the first time in a number of; reported spend volumes at or above Q1 2020 levels; all issuers reported modest QoQ declines in spend as is typical following the holiday period Receivables growth continues to…. The post Q1 2021 US credit card issuer snapshot appeared first on Accenture Banking Blog.

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As Bank Branches Go Digital, How Do They Attract Customers?

Banking Exchange

Banks are having to reconsider the role physical branches play in a world of digitized customer experiences Retail Banking Financial Trends Feature Technology Customers People Performance Revenue Feature3 Tech Management Mobile Online.

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Economic Expansion Beginning to Fuel Significant Demand for Working Capital Finance

Jack Henry

Let’s set the stage for what economic activity we are likely to see during the second half of 2021 and through much of 2022. The Conference Board is forecasting real GDP growth above 6% for the year, fueled by a strong 6.4% annualized growth rate in Q1, federal stimulus, and pent-up consumer demand. This includes a quarterly annualized forecast of 8.6% in the second quarter and 6.4% in the third.

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Process mining and process discovery: How they differ and shape automation strategy

BankInovation

Banks and financial institutions want to automate back-end processes but very often the conversation can get confusing right at the start. Realizing that automation adds efficiency is the first step, but figuring out what to automate first — and how — can be tricky. On a regular day at any institution, humans and software applications […].

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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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BauerFinancial Recognizes Popular Bank

PopularBank

Premier Rating Firm BauerFinancial Recognizes Popular Bank as a Superior Financial Institution with Five-Star Rating. New York, NY – June 9, 2021 – Popular Bank, a subsidiary of Popular, Inc. (NASDAQ: BPOP) has once again received the distinguished five-star rating from BauerFinancial. BauerFinancial has now rated Popular Bank with five-stars (Superior) for twenty-four consecutive quarters.

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U.S. unveils AI task force to share government data for research

BankInovation

The Biden administration today unveiled a task force to develop plans on sharing government data with artificial intelligence researchers. The National Artificial Intelligence Research Resource Task Force, made up of 12 members from academia, government, and industry, was mandated under the National Artificial Intelligence Initiative Act of 2020, and will draft a strategy on the […].

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Building A Data-Driven Culture the Right Way: Five Lessons to Build Better Relationships

Banking Exchange

The crucial front in the battle between big banks and community financial institutions has shifted from the physical world to the digital one Technology Financial Trends Tech Management Feature3 Fintech Feature Customers Community Banking.

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Second Circuit rules debt collector did not violate FDCPA by sending settlement offer without disclosing interest would continue to accrue if consumer did not meet payment deadline

CFPB Monitor

The U.S. Court of Appeals for the Second Circuit has ruled that a debt collector did not violate the Fair Debt Collection Practices Act by sending the plaintiff a settlement offer that did not disclose that his balance could increase due to interest and fees. . In Cortez v. Forster & Garbus, LLP , the debt collector sent a collection notice to the plaintiff offering various options for settling his account for less than the full balance owed if he made the payments indicated by the dates sp

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Global banking regulators call for toughest rules for cryptocurrencies

TheGuardian

Growth of crypto-assets threatens financial stability and could increase risks faced by banks, they warn Global regulators have said cryptocurrencies such as bitcoin should come with the toughest bank capital rules to avoid putting the wider financial system at risk should their value collapse suddenly. The Basel Committee on Banking Supervision, which consists of regulators from the world’s leading financial centres, is proposing a “new conservative prudential treatment” for crypto-assets that

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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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This week’s podcast: Should the Office of the Comptroller of the Currency (OCC) be abolished? A conversation with special guest Carter Dougherty, financial reform advocate and author of “The Money Trust” newsletter

CFPB Monitor

Mr. Dougherty recently authored an article calling for the OCC’s abolishment and merger into the Federal Deposit Insurance Corp. After reviewing the history of the creation of the OCC and Federal Reserve Banks, we examine and debate Mr. Dougherty’s arguments in support of his position. We also discuss and respond to Mr. Dougherty’s criticism of the OCC’s “true lender,” Community Reinvestment Act, and fair access rules.

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Community Bank Consolidation Accelerates: Simmons First National in $277M Double Buy in Tennessee

Banking Exchange

Two community banks snapped by Simmons, while Illinois’ Heartland Bank looks to push into Iowa Community Banking Feature3 Feature Management M&A.

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Nordea, Meniga bolster digital banking offering with cashback rewards

The Paypers

Digital banking solutions provider Meniga has partnered with Nordea to continue the integration of its cashback rewards platform within Nordea’s mobile banking app in Sweden.

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Senate hears testimony pushing for U.S. digital currency   

BankInovation

The U.S. Senate on Wednesday conducted a hearing related to a possible rollout of a Central Bank Digital Currency (CBDC), urged on by academic and private sector experts who are pushing for the Federal Reserve to step up its efforts. The Senators and witnesses pointed to the need to establish the U.S. CBDC as the […].

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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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Liberty National Bank (OK) Offers Rewards Checking Statewide

BankDeals

Liberty National Bank (Oklahoma) offers its competitive Kasasa Cash and Kasasa Cash Back accounts on a statewide basis through an online application.

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Bankers predict Euro 2021

Bankelele

The covid-delayed Euro 2020 soccer tournament kicks off tomorrow, on June 11, a year behind schedule. Ahead of soccer tournaments in past years, several banks including Goldman Sachs, ING, Nomura, UBS and ABN Amro have all made predictions of who will win. There’s more attention and interest with global tournaments, such as the World Cup […].

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Virgin Money Australia live on Temenos Banking Cloud

The Paypers

Virgin Money Australia has gone live on The Temenos Banking Cloud, enabling the digital bank to innovate and create a digital service that helps them achieve their financial goals.

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REN Connect - Your solution to joining an RTP Network

ATM Marketplace

Give your customers what they want. Easily and Painlessly Join an RTP Network with Euronet's REN Connect.

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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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BukuWarung fintech raises USD 60 mln in funding

The Paypers

Indonesia-based BukuWarung , a fintech focused on Indonesia’s micro, small, and medium enterprises (MSMEs), announced today it has raised a USD 60 million Series A.

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Berkshire Hathaway-Backed Nubank Raises $750M To Strengthen Digital Banking Offerings

CB Insights

Nubank , a fintech company, has raised $750M in an extended Series G round that drew participation from Berkshire Hathaway, Sands Capital, CPP Investments, and MSA Capital, among others. HOW’S THE COMPANY PERFORMING? Brazil-based Nubank is a digital banking services provider that offers several financial products, such as savings bank accounts, debit cards, no-fee credit cards, P2P payments, loans, and life insurance.

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Upfluence integrates with WooCommerce

The Paypers

Upfluence Software , a US-based marketing company, has announced an integration with WooCommerce.

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New leader, new mission for SoFi's banking-as-a-service arm

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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Visa launches a program for fintechs in Bangladesh

The Paypers

Visa has announced launching its new program for Bangladeshi startups and fintechs.

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What it means that ex-Fed officials are leading OCC

American Banker

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BharatPe acquires loyalty platform Payback India

The Paypers

BharatPe has acquired Payback India from American Express and ICICI Investments Strategic Fund.

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Post-pandemic wanderlust creates runway for travel fintechs

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.