Wed.Nov 30, 2022

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FIS, Fiserv could benefit from credit legislation

Payments Dive

Legislation aimed at creating competition for card giants Visa and Mastercard could be a boon for payments companies FIS and Fiserv.

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Themes & Takeaways From the 2022 Real-Time Payments & Fraud Management Summit 

Perficient

Our Payments Practice recently had the opportunity to represent Perficient at the 2022 Real-time Payments & Fraud Management Summit held in New York City. . The conference was attended by several Financial Institutions, Service Providers, Fintechs, and Industry Regulators. Among its attendees were representatives from The Clearing House (TCH), The Federal Reserve Bank of Boston, and SWIFT, along with some of the largest financial institutions in the U.S. .

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ACI charts 15% rise in holiday e-commerce

Payments Dive

The payments software company said buy now-pay later made a big showing as e-commerce shot up for holiday shopping between Friday and Monday.

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Brad M. Bolton: Putting the “community” in community banking

Independent Banker

Photo by Chris Williams. People want to be a part of something bigger than themselves, and community banks provide that opportunity. Community banking is about serving the greater good. As community continuators, we are part of something bigger than ourselves. We support civic clubs, Lions Clubs, the Relay for Life, our local schools and so much more, because these issues matter to the communities we serve.

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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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FHFA Announces 2023 Conforming Loan Limits

CFPB Monitor

The Federal Housing Finance Agency (FHFA) recently announced the conforming loan limits for residential mortgage loans acquired by Fannie Mae and Freddie Mac in 2023. Fannie Mae addresses the limits in Lender Letter 2022-06. As was expected based on the significant increase in housing prices during 2022, the limits increased substantially. The standard loan limit for a one-unit home increased from $647,200 in 2022 to $726,200 for 2023.

More Trending

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UK plans to relax ringfencing rules on banks to spark Brexit ‘big bang’

TheGuardian

Largest banks would still be ringfenced, while smaller lenders might not need to follow rules Ministers are considering relaxing rules brought in to stabilise the banking system after the credit crunch, as part of government plans to deregulate the City of London and spark a post-Brexit second big bang for financial services. The ringfencing regulations, introduced unilaterally by the UK in the wake of the 2008 global financial crisis, require lenders to separate their high street operations fro

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Best Community Banks to Work For 2022

Independent Banker

Clockwise from top left: Grand Ridge National Bank, Wheaton, Ill.; Community Financial Services Bank, Benton, Ky.; Bank of Montana, Missoula, Mont.; CNB Bank, Berkeley Springs, W.Va.; Midwest Bank, Norfolk, Neb. What great resignation? In our annual workplace survey, employees of ICBA’s best community banks to work for told us they benefit from engaging cultures, opportunities for advancement and innovative benefits. » LESS THAN $250 MILLION.

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Full list of HSBC closures: is your local branch on it?

TheGuardian

HSBC is to shut a further 114 branches – more than a quarter of its network. Here is the list of sites to close HSBC to close more than one in four bank branches Scores of communities across the UK will lose their local HSBC branch from April after the banking group announced another wave of closures, which come on top of the 69 outlets axed this year.

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Rebeca Romero Rainey: The people make the bank

Independent Banker

Photo by Chris Williams. How we hire, retain, recruit and advance our missions amid momentous change will remain a key topic for community bank leaders and will influence our plans for the future. December creates a natural opportunity for reflection, and as I look back on our efforts over the past year, I’m struck by one core truth: It’s the people who make the bank.

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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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Rule Change Presents Challenge for Zelle

Banking Exchange

The payments network Zelle is owned by seven United States based banks, and has been under the careful watch of lawmakers Payments Duties Compliance Financial Trends Feature3 Feature Customers Compliance Management Compliance/Regulatory.

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Lexicon Bank: A bank that shows its hand

Independent Banker

Stacy Watkins (left), president and CEO, and Hilary Nelson (right), senior vice president and director of operations and compliance, at the Las Vegas Strip. Photo by Sammy Tillery. When it comes to supporting outliers in the Las Vegas community, Lexicon Bank knows how to play its cards. By Tom Groenfeldt. Name: Lexicon Bank. Assets: $237.6 million. Location: Las Vegas, Nev.

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CFPB and FTC file amicus brief regarding  servicemembers’ right to sue under the Military Lending Act

CFPB Monitor

On November 22, 2022, the Consumer Financial Protection Bureau (“CFPB”) and the Federal Trade Commission (“FTC”) filed an amicus brief in a case involving the right of servicemembers to sue under the Military Lending Act (“MLA”). In the brief, the agencies ask the Eleventh Circuit to overturn a district court decision that held the plaintiffs (a servicemember and his wife) did not have a right to sue under the MLA because they had not suffered a concrete injury sufficient to confer standing.

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A fund for diverse tech companies

Independent Banker

Photo by Nate Smallwood. First National Bank and Black Tech Nation Ventures teamed up to support minority-owned startups in the Pittsburgh community and beyond. By Elizabeth Judd. Driven by her goal to cultivate a supportive community for diverse tech startups, Kelauni Jasmyn founded the fiscally sponsored nonprofit Black Tech Nation in Pittsburgh in 2018.

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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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Australia’s banks likely to reduce lending to regions and sectors at risk of climate change impacts, regulator says

TheGuardian

Apra finds country’s banks may be more vulnerable to economic downturns as they face threefold increase in lending losses Get our morning and afternoon news emails , free app or daily news podcast Banks expect to reduce lending to households and businesses in northern Australia and to fossil fuel industries across the country as the risk of losses due to the climate crisis escalates, the industry regulator says.

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Charles Potts: ICBA’s legacy of success

Independent Banker

Illustration by Jess Rodriguez/Adobe. In 2022, ICBA’s award-winning ThinkTECH Accelerator program reached more community banks with innovative solutions and partnerships than ever before. By Charles Potts, ICBA. For ICBA and our community bank members, 2022 was a year full of potential. We not only continued to grow and improve on our iconic, award-winning ThinkTECH Accelerator program; we also reached more community banks with innovative solutions and partnerships than ever before.

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HSBC to close more than one in four bank branches in the UK

TheGuardian

Next round of 114 site closures between April and August 2023 will cut total to 327 Full list of HSBC closures: is your local branch on it? HSBC is to shut a further 114 branches in the UK – more than a quarter of its network – after claiming use of its outlets by regular customers has plummeted by two-thirds in five years. Early last year, HSBC had 593 branches, but the latest round of closures, scheduled to take place between April and August next year, will take that number down to 327.

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Can AI assist in vendor management challenges?

Independent Banker

Photo by MirageC/Getty Images. As community banks grow, their vendor partnerships usually also do, which can lead to challenges with organization, data security and more. To address these issues, some community banks have turned to artificial intelligence. By Elizabeth Judd. The dazzling possibilities of artificial intelligence (AI) have captured the public imagination.

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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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Bulb takeover saga sheds light on ‘disgraceful’ lack of transparency

TheGuardian

Let’s hope E.ON, Centrica and Scottish Power’s judicial reviews succeed in forcing some openness Selling a nationalised energy supplier, even one with 1.5 million customers, ought to be a simple process. First, you invite bids. Second, you assess the proposals, weighing them against criteria such as deliverability, value for money for taxpayers and likelihood of increasing competition.

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Super apps: The rise of an all-in-one platform

Independent Banker

Artwork by ra2 studio/Adobe. Convenience is a growing desire from consumers everywhere. Across the world, people are using super apps to send messages, purchase tickets and, of course, bank online. What are they, and how can community banks stay on top of this trend? By Colleen Morrison. Super apps, or apps that aggregate online or mobile user experiences into one central location, have taken off globally.

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Yapily partners with Certua to augment life insurance with Open Banking

The Paypers

UK-based Open Banking infrastructure Yapily has teamed up with insurance platform Certua to simplify applying for and managing life insurance.

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Four Key Components of Real-Time Insurance Success

FICO

Home. Blog. FICO. Four Key Components of Real-Time Insurance Success. Insurers need to make real-time decisions using advanced analytics, with interactive communications, based on a complete view of the customer. FICO Admin. Thu, 08/22/2019 - 12:37. by Rodrigo Camargo. Director, Partner Solutions. expand_less Back To Top. Wed, 11/30/2022 - 12:10. Throughout these years of working with insurance companies to leverage technologies such as like data streaming and orchestration , rules authoring and

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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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Riskified integrates with SAP Commerce Cloud

The Paypers

US-based fraud management platform Riskified has integrated with the SAP Commerce Cloud platform to give merchants easy access to Riskified fraud prevention solutions.

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Profitability and Customer Financial Health in Retail Banking

FICO

Home. Blog. FICO. Profitability and Customer Financial Health in Retail Banking. Here’s how to strike a balance that delivers long-term benefits for customers' financial health. FICO Admin. Tue, 02/18/2020 - 14:57. by Bill Waid. expand_less Back To Top. Wed, 11/30/2022 - 19:00. In my recent Forbes article , I explored a vision for the future of retail banking where the customer’s complete financial wellness is at the center of decision making.

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How to create a holiday shopping budget

PopularBank

Holiday shoppers may be looking at pricier gifts this season with inflation remaining high. You can take steps to alleviate the financial toll of the holiday season by making a holiday shopping budget. According to recent data from Deloitte, retail sales are set to increase due to higher prices. Deloitte predicts that holiday sales will total $1.45 to $1.47 trillion this season.

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Transactions: Santander UK leverages ATM-as-a-Service tech

BankInovation

Santander U.K. selected NCR Corporations’ NCR ATM-as-a-Service technology to run its ATM network to manage the bank’s network of more than 1,700 ATMs across the U.K. The service allows the bank to pass its operational management including the software, transaction processes, cash management and ATM monitoring needs, according to an NCR release. “Moving to NCR […].

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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.