Tue.Nov 22, 2022

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FIS may cut thousands of workers, Bloomberg reports

Payments Dive

The news report on workforce reductions at the payments processor follows its announcement earlier this month that it would embark on a $500 million cost-cutting program.

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The Few, the Proud, the Protected — Provisions in SCRA That Financial Institutions Must Be Aware Of

Perficient

SCRA stands for the Servicemembers Civil Relief Act. The history of the SCRA can be traced back to a Civil War moratorium that protected Union soldiers and sailors from collection actions, divorce proceedings, and other legal issues during wartime. These protections resurfaced in 1918 with the Soldiers’ and Sailors’ Civil Relief Act. The Act was revisited frequently in the 20 th Century and became the Servicemembers Civil Relief Act in December 2003.

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Demand for credit cards climbed this year

Payments Dive

Consumer demand for credit cards rose this year over prior years, and card issuers increasingly approved their applications despite the worsening economic climate.

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The Crypto Brat Pack Just Earned Themselves Regulation

Gonzobanker

Now is the time for bankers to engage lawmakers in how the crypto and digital asset market shapes up. Picture a 1970s mom making a sarcastic statement to her irresponsible son, “ Well you’ve just earned yourself a weekend of chores.”. Remember back to the creepy Mr. Vernon from the Breakfast Club who, growing tired of Bender (Judd Nelson) talking back to him, declared, “Congratulations, you just bought yourself another Saturday detention.”.

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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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Afterpay, Expedia link for travel BNPL

Payments Dive

The buy now-pay later provider and the travel booking company are teaming up to allow consumers to spread out payments for flights and hotels.

Payments 397

More Trending

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BNPL connected to overdraft charges, card fees: study

Payments Dive

Heavy users of buy now-pay later ? which researchers said inspires consumers to spend beyond their means — showed larger declines in financial health, a recent academic study determined.

Study 221
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G4S strike prompts fears of festive cash shortages at banks and shops

TheGuardian

More than 1,000 staff who deliver money to firms such as Barclays, Asda and Tesco to take action More than 1,000 security workers who deliver cash and coins to some of the UK’s biggest banks and supermarkets have voted to strike in December, raising the prospect of potential cash shortages in the run-up to Christmas. The 48-hour strike by 1,156 members of the GMB union who work for the security company G4S is due to take place from 3am on 5 December, after a 97% vote in favour of industrial acti

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JPMorgan’s crypto wallet trademark is approved

Payments Dive

The green light comes more than two years after the bank submitted paperwork to the U.S. Patent and Trademark Office, and is at odds with some statements by its CEO.

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CFPB Releases Analysis of Consumer Complaints Related to Crypto-Assets

CFPB Monitor

Pointing to a growth in consumer complaints related to crypto-assets, on November 10 th , 2022, the Consumer Financial Protection Bureau (the “CFPB”) released a Complaint Bulletin , which analyzed in excess of 8,300 consumer complaints that the CFPB had received related to crypto-assets. The CFPB reviewed complaints submitted to it during the period of October 2018 to September 2022, but noted that the majority of the complaints it received were submitted over the last two years, with the great

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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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Video: How to Avail No-Cost EMI on Amazon

BankBazaar

Here’s a quick video tutorial that will show you how to avail no-cost EMI offers on Amazon using your YES Bank-BankBazaar FinBooster Credit Card or your RBL Bank BankBazaar SaveMax Credit Card. Ready to explore no-cost EMI offers on top electronics with your Credit Card and pick out your favourite? Just click the link below: Shop With Your YES Bank Card >> Shop With Your RBL Bank Card >> The post Video: How to Avail No-Cost EMI on Amazon appeared first on BankBazaar - The Definit

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Congress bill aims to address ATM crime with heftier penalties

ATM Marketplace

A bill in Congress aims to address ATM theft by putting independent ATMs under federal purview.

ATM 112
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Best FD Interest Rates in November 2022

BankBazaar

If guaranteed returns are in your short-term or long-term financial goals, a fixed deposit is what you may be looking for. Opting for a fixed deposit is a sure-shot way of creating wealth without the risk of fluctuating interest rates that occur due to changing economic and market conditions. …and because we have your best ‘interest’ at heart, we have done the research so you can make an informed decision while planning an investment portfolio.

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Inside Marketing: 3 Things Credit Unions Can Learn From Lionel Messi

William Mills

The 2022 World Cup is quickly approaching, and many soccer legends are participating in their final world cup games. One of them is Lionel Messi —a soccer (or football, for those not in the U.S.) professional that has inspired millions of soccer fans around the globe.

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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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Bank and VC consortium to invest in emerging fintechs

BankInovation

Community banks and venture capital firms are joining forces through the newly launched BTech Consortium to help smaller financial institutions (FIs) invest in emerging fintech technologies to the tune of $100 million. Through the consortium, banks will collectively invest funds to help power various technology initiatives, Cummings said, noting the current pool sits at […].

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Red states are where the anti-ESG action is

American Banker

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Listen: How FIs can improve CX through site search personalization

BankInovation

Raleigh, N.C.-based First Citizens Bank is leveraging the services of a fintech to offer search personalization and improve the customer experience. The $108 billion bank has a search bar in the middle of its homepage for easy navigation. The search option brings answers to client questions “without clicking a bunch of blue links,” Shane Closser, […].

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Top Retail Banking Innovation Trends for 2023

The Financial Brand

This article Top Retail Banking Innovation Trends for 2023 appeared first on The Financial Brand. Banks are better positioned to generate positive results from innovation initiatives. But legacy cultures and processes continue to impede progress. This article Top Retail Banking Innovation Trends for 2023 appeared first on The Financial Brand.

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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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Truist CIO Bryce Elliott joins Bank Automation Summit US 2023 speaker faculty

BankInovation

Bryce Elliott, executive vice president and chief information officer for wholesale and enterprise payments technology at Truist, joined the speaker faculty for the Bank Automation Summit U.S. 2023 and will be part of the panel “Solving data expandability issues through cloud” on Thursday, March 2, at 9:15 a.m. ET. The panel discussion will dive into […].

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Wells Fargo charged borrower $40,000 in excessive legal fees, judge rules

American Banker

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The Answers To Financial Marketing Social Media Questions in 2023

The Financial Brand

This article The Answers To Financial Marketing Social Media Questions in 2023 appeared first on The Financial Brand. Should you zero in on one social platform or juggle them all? Is TikTok worth trying? Here are insights guiding social strategies in 2023. This article The Answers To Financial Marketing Social Media Questions in 2023 appeared first on The Financial Brand.

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PacWest in Los Angeles accelerates CEO succession

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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Flexible Designs, Floorplans & Branding Help Future-Proof Bank Branches

The Financial Brand

This article Flexible Designs, Floorplans & Branding Help Future-Proof Bank Branches appeared first on The Financial Brand. In an environment of segmented markets and fast-changing consumer behaviors, flexible branch designs enable banks to respond quickly. This article Flexible Designs, Floorplans & Branding Help Future-Proof Bank Branches appeared first on The Financial Brand.

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Visa teams with fintech to improve international small-business payments

American Banker

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Bankrate, Step Aside. Seattle Bank’s Unbiased CD Site Has National Plans

The Financial Brand

This article Bankrate, Step Aside. Seattle Bank’s Unbiased CD Site Has National Plans appeared first on The Financial Brand. One community bank has launched a free CD rate listing service that aims to help both consumers and financial institutions. This article Bankrate, Step Aside. Seattle Bank’s Unbiased CD Site Has National Plans appeared first on The Financial Brand.

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Cracking down on 'woke' banks may be good politics,  but it's bad policy

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.