Tue.May 04, 2021

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Quantum computer: The 'coronavirus' of cryptography

ATM Marketplace

Jurjen Bos is the cryptographer and corporate information security advisor for equensWorldline. He deals with determining risk, specializing in IT security and cryptography, which is a branch of mathematics. Bos shares his thoughts on the arrival of quantum computers and how this event can be a potential game changer for the payments marketplace.

Security 149
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SEC clampdown on SPACs to bring maturity to market

Bobsguide

The Securities Exchange Commission (SEC)’s latest accounting and reporting considerations for Special Purpose Acquisition Companies (SPACs) will improve the maturity of the market, according to Betsy Cohen, chairman at FinTech Masala. However, Cohen said fintech SPAC activity had slowed.

Marketing 109
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What Network Uptime Really Means for Your Institution

Jack Henry

With the mass exodus from private network infrastructure to cloud computing, business leaders are always focused on finding vendors that can meet their performance requirements. One important discussion point revolves around the 9s of availability and protecting against the risk of downtime. As a society, we live in a world of instant access to everything.

Meeting 97
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Refinancing your home loan? Here's 6 steps to help you prepare

Qudos Bank

Refinancing your home loan could help you lock in a lower interest rate, more flexible loan features or a more suitable loan structure. And with interest rates at all-time lows, there are more opportunities than ever to lock in a better deal.

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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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Kirk Muhlenbruck Named Market President for Merchants Bank in Northfield

MerhantsBanks

Northfield, Minn. – Long-time Northfield resident and experienced community banker, Kirk Muhlenbruck, has been named the new Market President for Merchants Bank in Northfield, according to Dan Massett, Central Region President. Muhlenbruck has more than 30 years of banking experience, serving mainly in senior commercial and retail leadership roles. Since 2005, he had been with […].

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CFPB Enters Into Consent Order With Reverser Mortgage Lender and Broker

CFPB Monitor

The CFPB recently entered into a consent order with Nationwide Equities Corporation (Nationwide), which the CFPB refers to as a mortgage broker and mortgage lender that primarily provides jumbo reverse mortgage loans and Home Equity Conversion Mortgage Loans (HECMs). The CFPB asserts in the consent order that Nationwide engaged in direct mail advertising practices that violated the Mortgage Acts and Practices—Advertising Rule (the “MAP Rule,” also known as Regulation N), the closed-end advertis

Taxes 78
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Take flight with artificial intelligence

BankInovation

In the past, the financial services industry was slow to change. Due to the COVID-19 pandemic and consumers’ shifting preferences, however, financial institutions are rapidly adopting digital capabilities and other technologies to support quick, seamless and automated processes and better serve their customers. As the industry embraces change, emerging cognitive technologies like artificial intelligence (AI), […].

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Education Department names Richard Cordray Chief Operating Officer of Federal Student Aid

CFPB Monitor

The Department of Education has announced that it has selected former CFPB Director Richard Cordray as the Chief Operating Officer of Federal Student Aid. In addition to having served as CFPB Director, Mr. Cordray formerly served as Ohio Attorney General. Rohit Chopra, President Biden’s nominee for CFPB Director, previously served as the CFPB’s Private Education Loan Ombudsman under Mr.

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UK mortgage lending hits record amid stamp duty rush

TheGuardian

Consumers repaying credit card debts and manufacturing booming as Covid restrictions ease, new figures show Mortgage borrowing in the UK has reached its highest level since modern records began as buyers rushed to beat the now-extended stamp duty holiday deadline. Bank of England figures showed that Rishi Sunak’s decision in the budget to extend the tax break until June came too late to stop a burst of activity in the housing market in March.

Lending 77
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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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OCC files to motion to dismiss CSBS lawsuit seeking to block OCC approval of Figure Technologies charter application

CFPB Monitor

The Office of the Comptroller of the Currency has filed a motion to dismiss the lawsuit filed by the Conference of State Bank Supervisors (CSBS) in D.C. federal district court seeking to block the OCC from granting a national bank charter to Figure Technologies Inc. The lawsuit represents CSBS’s third challenge to the OCC’s authority to issue special purpose national bank (SPNB) charters to non-depository fintech companies.

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The shifts in female representation on bank boards

The Banker

Legislation has spurred female representation on bank boards in a number of developed countries but others still lag behind.

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Jack Henry, M&T Bank join open banking standards group FDX

BankInovation

The Financial Data Exchange (FDX) announced Tuesday the addition of 18 new members to the nonprofit group, including the $143 billion M&T Bank and banking core technology provider Jack Henry. FDX is looking to standardize financial data sharing as U.S. financial institutions continue to adopt open banking. At its core, open banking allows third-party vendors […].

Groups 69
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Payments startup DLocal said to confidentially file for IPO

Payments Source

Payments 152
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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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Superior Aftermarket Support for OEMs and Field Service Providers

ATM Marketplace

Providing Service & Technical Solutions since 1981, Hytec complements any Service or Manufacturer Program. Hytec offers Individual Solutions by Industry, working with OEMs to develop solutions specific to their industry needs for Office Imaging, ATM, Banking & Cash Handling, POS & Barcode Printers, Kiosks, Vending, and Mailbox Systems.

ATM 55
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Mortgage Protection Insurance vs. Term Life Insurance: Pros and Cons to Consider

MyBankTracker

When you take out that home loan, it gets recorded in the public records of your locality. This way, others can know your house is encumbered by a lien to the mortgage lender. The public lien prevents you from taking out multiple mortgages and running off with the money, scamming the banks. One downside of the public nature of these documents is anyone can access them.

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Digio, Conductor and FICO Partner to Curb Fraud in Latin America

FICO

Latin America is a huge opportunity market for financial services with approximately 70% of the region either unbanked or underbanked. This opportunity is being exploited by a growing number of fintech and banking technology innovators such as Digio, an organisation with the strength of a bank but the agility of a fintech. Unfortunately, this digital growth is a fertile ground for fraudsters, who take advantage of these new organisations and technologies that generally have limited financial exp

Fraud 52
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Should You Switch Car Insurance After an Accident?

MyBankTracker

The good news: You can switch car insurance at any time – but that doesn’t necessarily mean you should. There may be compelling reasons to stay with your current carrier. Switching to get a lower rate or better benefits for an already claimed accident will not be possible. The insurer you have at the time of the accident will be the one you’ll go through for that claim.

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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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3 Essential Small Business Security Practices

MerhantsBanks

Keeping your business protected from fraud and security threats can feel like an overwhelming job. One place to start is by focusing on internal controls that help keep your business’s financial information more secure. Our Security Officer, Kerri Bronk, recommends putting the following three internal controls into practice and reviewing them regularly.

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91st Banking Diploma Result Published

FluentBanking

Banking diploma is a very common and recognized professional certification from The Institute of Bankers, Bangladesh (IBB). Though there are so many contradictions about this course, every banker wants to pass this certification. It is important to know thoroughly about the syllabus and regulations of any course before enrolling in that. Today we are going to provide you a better insight into IBB, Bangladesh, and their banking diploma course.

Course 52
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Greylock-Backed Wealthsimple Raises $610M, Triples Its Valuation To $4B In 7 Months

CB Insights

Wealthsimple , a provider of tools for money management and portfolio investment, has raised $610M in its latest fundraise, valuing it at $4B. Investors include Greylock Partners, Inovia Capital, Redpoint Ventures, as well as celebrities Drake and Ryan Reynolds. HOW’S THE COMPANY PERFORMING? Canada-based Wealthsimple provides an array of financial services, like a commission-free stock trading platform, cryptocurrency trading, P2P money transfers, and tax filing services.

Taxes 59
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Acronis receives USD 250 mln in funding round

The Paypers

Switzerland-based Acronis , a global player in cyber protection, has received more than USD 250 million in funding round from CVC Capital Partners VII and other investors.

Capital 58
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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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Amex Business Travel Group to buy Expedia unit in bet on revival

Payments Source

Groups 118
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94% of people in the APAC region consider using an alternative payment method in 2022, Mastercard finds

The Paypers

94% of people in the APAC region say they will consider using at least one emerging alternative payment method in 2022, according to the Mastercard New Payments Index.

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Why consumers are finally paying with crypto

Payments Source

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Congress's inaction on ILCs, fintech charters worries bankers

American Banker

Fintech 99
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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.