Tue.Aug 10, 2021

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Boost Your Bottom Line by Changing the Conversation on CX

Jack Henry

Banks and credit unions have known for years that experience matters. We know that customers and members, particularly mobile-first digital natives like Millennials and Gen Z, expect the same speed and ease-of-use they experience with Instagram and Uber from their financial institutions. In the modern world, a digital offering can’t be viewed as simply a checklist item or a means to an end.

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Do large and small banks need different prudential rules?

BankUnderground

Austen Saunders and Matthew Willison. Banks come in different shapes and sizes. Do prudential regulations that work well for big banks work as well for small ones? To help us find out, we measure the effectiveness of some key regulatory ratios as predictors of bank failure. We do so using ‘receiver operating characteristic’ – or ‘ROC’ – analysis of simple threshold rules.

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Big banks to share big insights at Bank Customer Experience Summit

ATM Marketplace

While it's been a tough past year for the banking world, many banks and financial institutions have also learned critical lessons. Several big banks will share what they learned to stay afloat and thrive during the Bank Customer Experience Summit being held Sept. 13 to 15 in Chicago.

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KPMG: Global fintech investments surge in 2021

BankInovation

Global fintech investment reached $98 billion with 2,456 deals at mid-year — well over the milestone reached at the second half of last year, when global fintech funding hit $87 billion. Most of the 2021 funding — $42.1 billion — went to U.S. fintechs. A number of factors, including growing venture capital and corporate venture […].

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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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California DFPI issues proposed amendments to small dollar loan pilot program regulations

CFPB Monitor

The California Department of Financial Protection and Innovation (DFPI) has issued proposed amendments to its regulations implementing the Pilot Program for Increased Access to Responsible Small Dollar Loans (Pilot Program). Initially effective from 2014 to2018, the Pilot Program’s sunset date was extended to January 1, 2028. The Pilot Program operates under the California Financing Law (CFL) and is administered by the DFPI.

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California enforcement updates and privacy tools highlight regulatory scrutiny of right to opt out

CFPB Monitor

With a little over a year of enforcing the California Consumer Privacy Act (CCPA) under its belt, the Office of the California Attorney General (OAG) recently held a press conference to announce updates on its CCPA enforcement efforts and promote new tools relating to California consumers’ right to opt out of the sale of their personal information.

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Rapyd to enable PromptPay payments for Thailand's Google Play users

The Paypers

Rapyd has rolled out PromptPay on the Google Play Store, enabling Thailand’s national payment method to support app downloads and in-app purchases for games, music, movies, video streaming, books, magazines, and other content purchases from Google Play Store.

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Dalberg on Kenya’s Digital Economy

Bankelele

How deep is the digital economy in Kenya? The post Dalberg on Kenya’s Digital Economy appeared first on Bankelele.

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This Point72 Ventures-Backed Crypto Analytics And Research Firm Raised $21M To Build New Governance Tools

CB Insights

Messari, a crypto analytics and research firm, has raised $21M in a Series A funding round. The round drew participation from Point72 Ventures, Uncork Capital, Tom Glocer, and Winklevoss Capital, among others. How’s the company performing? New York-based Messari’s crypto analytics tools and research database enables investors to explore opportunities in the emerging asset class.

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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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Flutter’s punt on US gambling business FanDuel has played out in spades | Nils Pratley

TheGuardian

The FTSE 100 company’s share of the US online sportsbook market in the last quarter was an astonishing 45% The smartest deal, in hindsight, done in recent years by a FTSE 100 company must be Flutter Entertainment’s purchase in 2018 of a majority stake in FanDuel, a US business running online sports-based fantasy games for prizes. It was a punt that leadership in the fantasy market could be converted into something very big if US rules were liberalised to allow locals to bet on sport for serious

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The Role of Decision Orchestration in Financial Platforms

FICO

In previous posts, I’ve explored data-related capabilities of a financial platform , such as use of external data, data ingestion , development of a characteristic library and microservices. These explore how data should flow into a decision process at high level. When it comes to real-life decision processes used in financial services and many other industries, the decision logic is far more complex and involves several different external and internal data sources and decision points.

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WooCommerce activates its payments offering in Europe

The Paypers

US-based WordPress ecommerce plugin WooCommerce has expanded its payment services across four new countries in Europe: Spain, Italy, France, and Germany.

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Circle could face an uphill climb to get a banking charter

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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Medius' AP Automation achieves SAP certification

The Paypers

Sweden-based spend management solutions provider Medius has announced that its AP Automation solution has achieved SAP certification as integrated with SAP S/4HANA and SAP S/4HANA Cloud.

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Activist investor presses Pennsylvania bank to find buyer

American Banker

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Banking and Payment CX Jeopardized By Surging Digital Fraud

The Financial Brand

Anemic lending and vaccination questions aren't the only things nagging banking leaders. A 'pandemic' of fraud must also be dealt with. The post Banking and Payment CX Jeopardized By Surging Digital Fraud appeared first on The Financial Brand - Banking Trends, Analysis & Insights.

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Truist buying home improvement lender for $2 billion

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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Innovation and Sheer Marketing Muscle Power Credit Card Battle

The Financial Brand

Fintechs and neobanks are adding competition with fresh ideas as major players prepare to spend for share. The post Innovation and Sheer Marketing Muscle Power Credit Card Battle appeared first on The Financial Brand - Banking Trends, Analysis & Insights.

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How Kabbage is helping American Express connect with small merchants

American Banker

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Ukraine could legalise crypto payments

The Paypers

The Ukrainian government has drafted a roadmap for the integration of crypto into the country’s economy.

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Simmons First National hires TCF veterans for equipment finance unit

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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DueDil, nCino allow FIs easy due diligence checks and risk mitigation

The Paypers

Intelligence platform DueDil has announced a new collaboration with nCino , a pioneer in cloud banking and digital transformation solutions for the global financial services industry.

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How Financial Institutions Can Upgrade Their Negatives to Affirmatives

The Financial Brand

A key objective of bank and credit union CRM systems is to empower frontline employees to say "Yes, and.", instead of "No, but.". The post How Financial Institutions Can Upgrade Their Negatives to Affirmatives appeared first on The Financial Brand - Banking Trends, Analysis & Insights.

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Volaris Group acquires MetaViewer

The Paypers

Volaris Group has acquired a division of Metafile Information Systems, MetaViewer – provider of accounts payable (AP) automation technology to Microsoft Dynamics users in North America.

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Wells Fargo elects new board chair as Charles Noski plans retirement

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.