Thu.Jan 13, 2022

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Sustainability Impact in Financial Services: Improvements to Four Areas

Cisco

At no other time in humankind’s history has every government, business, and citizen in the world held the collective responsibility to act with determination to ensure the sustainability of our planet. This large-scale transformation of global societies will require coordinated public/private actions to drive consistent environmental, social, and governance (ESG) business practices and fuel investments in innovation and technology necessary for the greening of global economies.

Community 109
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6 steps to governing intelligent automation risk

BankInovation

As intelligent automation among financial services companies ramps up beyond robotic process automation (RPA) bots to include new machine learning (ML) and artificial intelligence (AI) tools, risk increases. How should financial institutions address the potential risk that comes with this new tech? “RPA programs that have been successful usually have started with a pilot moving […].

Tools 98
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M&T Bank $350 MyChoice Premium Checking Bonus Offered Through 1/28/22

BankDeals

M&T Bank $350 MyChoice Premium Checking account bonus offered through 1/28/2022. Available in CT, DC, DE, MD, NJ, NY, PA, VA, and WV, based on Zip Code.

NJ 98
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DailyPay goes live with digital wallet, gives users access to pre-payday funds

BankInovation

Payroll fintech DailyPay has gone live with its digital wallet solution, which provides users access to earned wages before payday, as well as the ability to make payments and perform real-time transfers between cards, accounts and connected institutions. The digital wallet, formerly known as DailyPay PayEX, is built on a data exchange framework with thousands […].

Fintech 97
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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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CFPB sues debt buyer companies and their owners/officers for unlawful debt collection practices based on third-party conduct

CFPB Monitor

The CFPB filed a complaint earlier this week in a New York federal district court against three companies that purchase defaulted debts (Corporate Defendants) and three individuals who are owners and/or officers of the Corporate Defendants (Individual Defendants). ( Click here to read the statement from United Holding Group, LLC, one of the Corporate Defendants, about the lawsuit.).

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This week’s podcast: Pitfalls of using subscription services in the consumer financial services industry

CFPB Monitor

We look at the legal considerations that should be addressed when developing subscriptions for consumer financial products and services. After reviewing the practices addressed by federal and state automatic renewal/subscription laws and the types of products and services covered by such laws, we discuss legal requirements for subscriptions and renewals such as up-front disclosures, notification obligations, and cancellation options, federal and state enforcement actions, and private litigation

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Retaining, Recruiting & Rewarding Top Talent in a Competitive Labor Market

Jack Henry

Retaining, recruiting, and rewarding employees has never been more important than in today’s tight labor market. A quick review of the labor statistics and employment challenges that banks and credit unions in the U.S. are facing quickly lays bare the need to discuss the role of appropriate incentives in maintaining a competitive advantage.

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How Can Your Bank Create Brand Insistence?

The Emmerich Group

Way too many banks have spent a lot of money on brand awareness. And yet, can you even point to one customer who said I came to this bank because I just love their brand? In fact, most money spent on branding has a negative return on investment. Sadly, we’ve all been sold a bill. Continue Reading. The post How Can Your Bank Create Brand Insistence?

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Revolut launches as a bank in 10 more European countries | PayPal explores launch of own stablecoin | Stocks and property will be turned into NFTs

Bussman Advisory

FinTech Ecosystem Insights by Bussmann Advisory is our weekly newsletter with over 40’000 subscribers across different social media channels, summarizing relevant news and reports related to ecosystems around disruptive technologies, highlighting key updates from the industry as well as our portfolio companies: Revolut launches as a bank in 10 more European countries PayPal explores launch of own stablecoin as crypto business grows Stocks and property will be turned into NFTs, venture capi

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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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Debt Collection and Debt Resolution in 2022

FICO

Now that we’ve turned the page on the calendar, and entered the third year of the global pandemic, what are the challenges facing debt collection and debt resolution professionals? I’ve been in the business for more than 30 years now, and while some of what I see is new, much of it is awfully familiar. Stress on Household Wallets. Regardless of the billions in cash reserves governments have invested in furlough schemes, business loans, deferred repayments and debt relief schemes, the cost of liv

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Hydr develops proprietary invoice finance platform

The Paypers

UK-based fintech Hydr has developed its proprietary invoice finance platform to integrate with more cloud accounting software providers including Sage and QuickBooks.

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Citi to sell Southeast Asian units to UOB Group for $3.6 billion

American Banker

Groups 96
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Survey: financial services industry impacted by rapid digitalisation

The Paypers

Software provider ITRS Group has released a new global survey that has found financial services firms are struggling to keep up with an unprecedented rate of digital transformation in the wake of the COVID-19 pandemic.

Survey 52
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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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Navient to pay $1.85 billion to settle deceptive lending charges

American Banker

Lending 87
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SEBA Bank raises USD 120 mln in Series C

The Paypers

SEBA Bank , a digital assets firm with a Swiss banking license from FINMA, has announced that it has raised CHF 110 million (USD 120 million) in an oversubscribed Series C funding round.

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Largest seller of stolen credit cards on dark web shuts down

American Banker

Cards 85
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Soft Space partners with JCB

The Paypers

Malaysia-based fintech Soft Space has partnered with JCB to expand the latter’s presence in Southeast Asia and act as a link for Japanese consumers with the region and contrariwise.

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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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Neobanks say they're unfazed by old guard’s overdraft moves

American Banker

Fintech 81
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Airwallex launches international payment services in Singapore

The Paypers

Australia-based fintech Airwallex has announced its official launch in Singapore after receiving its grant of a Major Payment Institution license by the Monetary Authority of Singapore.

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Brainard stops short of endorsing climate stress tests for banks

American Banker

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Thunes expands into China

The Paypers

Singapore-based cross-border payments provider Thunes has announced plans to expand its operations in China, Hong Kong, Taiwan, and Macau.

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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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Bank economists see ‘blue skies’ on other side of omicron

American Banker

Lending 77
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Checkout.com gets USD 1 bln in Series D funding

The Paypers

Global payments processor Checkout.com has raised USD 1 billion in Series D funding round at a valuation of USD 40 billion.

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Dozens of M&T branches designated as 'multicultural banking centers'

American Banker

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Blockchain Research Institute partners with Standard Bank

The Paypers

Blockchain Research Institute (BRI) has expanded its work on the continent courtesy of cooperation with one of Africa’s largest banks, Standard Bank.

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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.