Tue.Dec 07, 2021

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Instant payments are the key to unlock innovation

Accenture

Money is on the move. Transactions that once took days now happen in seconds as new technology kickstarts a real-time payments revolution that is fundamentally changing how people work and live. The old 9-to-5 ways of doing business are being swept aside by the need to be able to send money anytime. All over the world, increasingly tech-savvy consumers and companies want their bill….

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How is Your Institution’s Loan Review Function Organized?

Abrigo

How do other FIs organize their loan review function? Regardless of how the loan review function is organized, it’s paramount that the loan review function is independent. You might also like this whitepaper, Effective Loan Review. DOWNLOAD Now. Takeaway 1 An FI’s loan review function can be organized internally, externally, or through a hybrid approach.

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2 reasons to deploy more ATMs in 2022

ATM Marketplace

Will ATMs still be worth it in 2022? The short answer is: yes. Read more for the long answer.

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How to Conduct an Exam-Proof BSA/AML Risk Assessment

Abrigo

Best practices for your BSA/AML risk assessment Learn top tips for creating a risk assessment to capture your institution's risk. . Would you like other articles like this in your inbox? Takeaway 1 Documentation is one of the most critical aspects of performing a risk assessment. Takeaway 2 Inherent risk and residual risk should be evaluated before mitigating factors are considered.

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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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Credit unions can innovate with more preparation

BankInovation

Credit unions may be slower to adopt technologies like and machine learning (ML), but they have the benefit of learning from the successes and pitfalls of the financial institutions that have gone before them. Credit unions must focus on implementing technology quickly and efficiently, according to a recent panel discussion with credit union executives and […].

More Trending

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nCino reports 29% YOY revenue growth

BankInovation

Cloud banking and loan automation company nCino last week reported third-quarter revenues of $70 million, a 29% year-over-year increase, credited in part to “catch-up revenues” related to the Payroll Protection Program (PPP) loans. The company expects to reap $18 million this year from PPP, CFO David Rudow said during the company's third-quarter fiscal 2022 earnings […].

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CFPB/Fed/OCC increase exemption thresholds for appraisal requirement, Regs Z and M

CFPB Monitor

The CFPB, Fed, and OCC have published notices in the Federal Register announcing that they are increasing three exemption thresholds that are subject to annual inflation adjustments. Effective January 1, 2022 through December 31, 2022, these exemption thresholds are increased as follows: Smaller loans exempt from the appraisal requirement for “higher-priced mortgage loans,” increased from $27,200 to $28,500.

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Interac selects Microsoft Azure as cloud capability provider

BankInovation

Canadian digital payment processor Interac announced last week it will use Microsoft Azure as its cloud capabilities provider. The move will allow Interac to scale and secure its processes in a Canadian payments market that saw online transfers grow by 48% and e-commerce payments grow by 20% in 2020, according to payment clearing and settlement […].

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The structure of regulatory revolutions

BankUnderground

Austen Saunders and Rajan Patel. What can the history and philosophy of science teach us about regulatory reform? In this post, we borrow Thomas Kuhn’s idea of ‘ scientific revolutions ’ to argue that radical overhauls of regulation often occur after crises but that, once major reforms have been completed, it’s normal to have periods when rules do not change so much.

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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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Commercial loan automation vendor Numerated acquires financial spread fintech

BankInovation

Boston-based startup Numerated, which automates commercial loan generation, has acquired Fincura, Inc., a spreading automation and financial analysis fintech. The deal, announced Tuesday, will combine Numerated’s digital loan origination system with Fincura’s optical character recognition software and artificial intelligence (AI) to automate the spreading process for banks, which is when financial information from a business […].

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Is Your Health Insurance Plan Omicron-Ready?

BankBazaar

With the rise in cases of Omicron – the new COVID-19 variant, the visible strain on the healthcare system and your financial planning is indeed a possibility and the implications, simply put, are many. Therefore, be on guard and eliminate any possible cause for concern. Is your health insurance plan ready to come to your rescue? Find out here.

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2022 Fraud Predictions: Fraudsters Will Join Billionaires in Space

FICO

As 2021 wraps up, people still ask me how my wallet diet is doing. Unlike most weight loss gimmicks, I’m pleased to report that my billfold has only been getting slimmer and sleeker since I first talked about the wallet diet in my 2018 predictions blog. Shockingly, post-pandemic, my wallet seems to be withering away; when I leave (work from) home, I often don’t even think to bring it with me.

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Fragma's metaverse to reward users with tokens

The Paypers

Fragma launches its blockchain metaverse, rewarding users with tokens for social mining, which means any action on the platform, including commenting, liking, and sharing.

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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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Quinyx Raises At A $550M Valuation To Take On When I Work, Spur, Deputy, And Others Developing Gig And Hourly Workforce Management Software

CB Insights

Quinyx , a provider of gig and hourly workforce management software, has raised $50M in a Series D round that drew participation from Alfven & Didrikson, Battery Ventures, and Zobito. HOW’S THE COMPANY PERFORMING? Sweden-based Quinyx offers work scheduling, task management, time reporting, communications, budgeting, and forecasting tools to gig and hourly workers.

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Modern Exchange Co. to leverage Nium's technology

The Paypers

Nium and Modern Exchange Co. have announced a partnership that will see Modern Exchange Co. leverage Nium’s global payments infrastructure internationally.

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Biden nominee Omarova pulls out of running for OCC post

American Banker

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Jumio acquires 4Stop to augment the end-to-end identity platform

The Paypers

US-based end-to-end identity orchestration company Jumio has announced that it is acquiring identity verification company 4Stop and plans to redefine the end-to-end identity industry.

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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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First Financial in Cincinnati buying equipment lender for $121 million

American Banker

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Monneo launches new card acquiring service

The Paypers

UK-based Virtual IBAN and corporate account provider, Monneo , has launched its new card acquiring service.

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EU's diverging interpretation of Basel III

The Banker

The European Commission plans to be faithful in its implementation of Basel III, but with some caveats, exceptions and, of course, delays. By Justin Pugsley.

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Kasada raises USD 23 million

The Paypers

US-based cybersecurity company Kasada has secured 23 million in Series C funding, bringing its total investment to 39 million and plans to accelerate sales and marketing abilities.

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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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Banking on Artificial Intelligence in Video Surveillance

The Financial Brand

Pairing network video systems with AI creates opportunities for banks and credit unions to improve security and customer safety in branches. The post Banking on Artificial Intelligence in Video Surveillance appeared first on The Financial Brand - Banking Trends, Analysis & Insights.

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Trulioo's new service supports Gen Z financial inclusion

The Paypers

Canada-based identity verification company Trulioo has announced the addition of US Student Records to the Trulioo GlobalGateway marketplace of identity services.

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Amex adds more countries to cross-border credit-score service

American Banker

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Jumio acquiring 4Stop, augmenting the end-to-end identity platform

The Paypers

US-based end-to-end identity orchestration company Jumio has announced that it is acquiring identity verification company 4Stop and plans to redefine the end-to-end identity industry.

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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.