Tue.Dec 13, 2022

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3 ways banks can wow customers with new value

Accenture

This is the second part of our series on how banks can adapt to changing customer behaviors and expectations. We’re picking up from the last blog, which explored the “why” of this critical issue; this time we discuss the “how”. I’m thrilled to again have my colleague Danelle Faust as co-author. She leads our financial…. The post 3 ways banks can wow customers with new value appeared first on Accenture Banking Blog.

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Brex maintains hiring for key roles, some replacements

Payments Dive

The fintech doesn't anticipate workforce reductions in 2023, but the broader industry isn’t done with job cuts, predicts Chief People Officer Angela Crossman.

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Advocacy group files lawsuit challenging California regulations requiring consumer-like disclosures for commercial transactions

CFPB Monitor

On December 2, a non-profit advocacy organization filed a lawsuit in a California federal district court seeking to enjoin the California Department of Financial Protection and Innovation (DFPI) from enforcing the final regulations (Regulations) issued by the DFPI to implement.

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Supporting the Financial Services Industry Sustainability Journey

Cisco

As climate change and the impacts of the carbon-based economy are becoming a centerstage conundrum across the globe, driving shareholder value is no longer the only goal for financial institutions (FIs). There is pressure from shareholders, consumers, employees, and regulators for organizations to move towards a more sustainable future, and to set ambitious greenhouse gas (GHG) emissions reduction goals.

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Elevating Accounting Practices: The Power of Outsourcing and Automation in the Digital Age

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.

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CFPB Issues Technical HMDA Rule for Closed-End Loan Threshold

CFPB Monitor

The CFPB recently issued a technical rule to reinstate the closed-end loan reporting threshold under the Home Mortgage Disclosure Act (HMDA) of 25 originated covered loans in each of the prior two calendar years that was adopted in an October.

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New Year's Predictions: Marketing, PR and Fintech in 2023

William Mills

The fintech and financial services sectors have proven to be profoundly resilient and we look forward to another productive and innovative year. As we work on our annual Bankers as Buyers report , which highlights predictions and trends for the financial services industry, we were inspired to make a few of our own. WMA team members weigh in on their 2023 fintech, marketing and PR predictions.

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3 ways digital signage can improve branch design

ATM Marketplace

Digital signage can help transform bank branches into spaces that draw in customers.

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Imran Imam obituary

TheGuardian

My brother Imran Imam’s passion was mathematics and science. He gained a master’s in mathematical physics at Imperial College London in 1978, and got a job offer from the aircraft manufacturer Hawker Siddeley, but because he did not want to work on missiles he decided to go into banking instead. Imran, who has died aged 70, began his working life at the Bank of Credit and Commerce International in London.

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EE rolls out new cyber security application supported by Norton

The Paypers

UK-based telecommunications company EE has launched a cyber security application, in partnership with Norton , designed to provide advanced online security to customers.

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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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The Bank’s newfound appetite to tackle risk is welcome, if a little late | Nils Pratley

TheGuardian

The financial policy committee has decided to take on ‘shadow banking’ which has been thriving since 2008 The wise heads on the Bank of England’s financial policy committee (FPC) discovered this year that they’re not as all-seeing as they might have thought. Their job is to spot financial risks before they become dangerous, but it turned out in late September there was a biggie they had missed – or, at least, seriously underplayed.

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OwnID offers passkeys support to Shopify Plus stores

The Paypers

Internet passwordless infrastructure provider OwnID has announced the release of Passkeys support for Shopify Plus stores to reduce drop rates and increase conversion.

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The CB Insights Book of RFTs

CB Insights

Are you a technology company or vendor looking to get in front of tech buyers, investors, and acquirers? We’ve compiled 141 requests for technology (RFTs) from buyers that are looking for a tech solution right now. These include: An American healthcare system is exploring drone delivery services for delivery of lab specimens across its network of hospitals.

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Fifth Third CIO Jude Schramm joins Bank Automation Summit US 2023

BankInovation

Jude Schramm, chief information officer at Fifth Third Bank, will join the panel discussion “Solving data expandability issues through cloud” at the Bank Automation Summit U.S. 2023 on Thursday, March 2, at 9:15 a.m. ET. The Summit will take place March 2-3, 2023, at the Westin Charlotte, N.C., and brings together U.S.-based industry experts to […].

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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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Digital Collections: 7 Things That Can Make You More Successful

FICO

Home. Blog. FICO. Digital Collections: 7 Things That Can Make You More Successful. Digital collections isn't a new concept, but it has taken on additional relevance in the current economic environment. Here are some tips for success. FICO Admin. Tue, 07/02/2019 - 02:45. by Ulrich Wiesner. expand_less Back To Top. Tue, 12/13/2022 - 10:40. This story of digital collections starts with Steve Jobs.

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Listen: Preparing for the CFPB’s new open banking rule

BankInovation

The Consumer Financial Protection Bureau (CFPB) plans to propose a new open banking rule in 2023 requiring financial institutions to share consumer data upon consumers’ requests. Along with the new parameters come fresh opportunities for exploitation of data from bad actors — and financial institutions should remain aware of gaps in the rule that fraudsters […].

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Biometric Security Crucial for Fraud Protection and CX

FICO

Home. Blog. FICO. Biometric Security Crucial for Fraud Protection and CX. Because customers value ease of use and good fraud protection most, FIs must balance scam protection with making things easy for good customers – but not TOO easy. FICO Admin. Tue, 07/02/2019 - 02:45. by Sarah Rutherford. expand_less Back To Top. Tue, 12/13/2022 - 11:20. Customers Prefer Easy & Safe.

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Banks employ bots to fight rising fraud, compliance risks

BankInovation

Financial fraud is big business for cybercriminals, with the Federal Trade Commission (FTC) estimating that $5.8 billion was lost to scams in 2021, a 70% increase from 2020. To fight the threat and help maintain compliance, several banks have turned to bots and robotic process automation (RPA). Ally Financial, for example, has partnered with […].

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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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Analyzing Google’s blockchain strategy: How the search giant is prepping for Web3

CB Insights

Google rose to prominence as the internet became popular with consumers — for many people, its familiar search home page is synonymous with being online. But now blockchain developers and crypto startups want to build a decentralized internet, referred to as Web3 , where big companies like Google have less control. The tech giant has other ideas.

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Buy now, pay later revolution starts to slow

The Banker

The buy now, pay later model has shaken up global e-commerce in recent years. While the tool has opened up avenues in emerging markets to access credit, overleveraged consumers, regulation and rising inflation are putting pressure on the business model. Kimberley Long reports.

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Traxpay partners with Arqit for secure trade finance

The Paypers

Germany-based supply chain finance platform provider Traxpay has entered into a collaboration agreement with UK-based digital financial instruments encryption company Arqit Quantum.

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In rural Alaska villages, internet banking comes with challenges

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.

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Jordan: central bank to regulate Open Finance

The Paypers

The Central Bank of Jordan (CBJ) has issued instructions to regulate Open Finance services provided by all banks operating in the Kingdom, according to The Jordan Times.

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"We aren't being recognized": Workers' union bid at one financial institution

American Banker

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Trovata and J.P. Morgan Asset Management partner

The Paypers

Trovata and J.P. Morgan Asset Management , have partnered to help joint customers tap into Morgan Money’s services to access higher yields on corporate investing.

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Can You Handle the Truth? The Big Lessons Focus Groups Are Teaching Banks

The Financial Brand

This article Can You Handle the Truth? The Big Lessons Focus Groups Are Teaching Banks appeared first on The Financial Brand. Bank of America, Fifth Third and many banks and credit unions bring in focus groups for product development and more. This article Can You Handle the Truth? The Big Lessons Focus Groups Are Teaching Banks appeared first on The Financial Brand.

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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.