Fri.Jul 22, 2022

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Amex raises growth projections

Payments Dive

The spending behaviors of American Express customers don’t suggest an economic downturn is imminent, CEO Steve Squeri asserted during Friday’s second quarter earnings call.

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Weak European PMI Readings Boost Treasury Prices

South State Correspondent

Weak European PMI Readings Boost Treasury Prices. Treasury yields are lower this morning after EU composite PMI readings unexpectedly slipped below 50.0 earlier today. Anything below 50 signals contraction and the recession warning sent EU-based yields lower and Treasuries have followed suit on what should be a quiet Friday trading day here. We will get our own preliminary PMI readings later this morning for July, but while some softening is expected none are forecast to dip below 50.

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PayPal hands out stock to new workers

Payments Dive

The digital payments pioneer is distributing shares of its beat-up stock to hundreds of new workers in a bid to hang onto employees after cutting others earlier this year. A spokesperson said the distribution was a “normal course” of action.

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Visa exec to deliver closing keynote at Bank Customer Experience

ATM Marketplace

Clinton Cheng, VP, global head of the Visa/PLUS ATM Network at Visa, will deliver key insights regarding the future of self-service banking and payments at the Bank Customer Experience Summit, being held in Chicago from Aug. 31 to Sept. 1.

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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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Fintech Funding: PE firm Motive Partners raises $2.5B

BankInovation

Private equity firm Motive Partners raised $2.5 billion for its Motive Capital 2 fund last week. Motive Capital 2 invests in software and information services businesses in North America and Europe, according to a release. The fund closed above its original hard cap of $1.5 billion with the help of investments from public and private […].

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Capital One scouts potential fintech acquisitions

BankInovation

Capital One is looking to the fintech market for potential acquisition opportunities as purchase prices drop. “As the pricing has crashed in that marketplace, we continue to watch the market carefully,” Chief Executive Richard Fairbank said during Thursday’s second-quarter earnings call, noting that when an opportunity arises for a tech acquisition, the bank is “well-suited” […].

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Market Trend Report: Underwriting Data Platforms for P&C Insurers

CB Insights

What are underwriting data platforms? Underwriting data platforms collect third-party alternative datasets, such as social media, public records, and demographic information. Insurers can tap into these data sources to augment their own internal datasets — with the goal of improving and expediting underwriting decisions. download the state of fintech Q2 2022 report.

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Decentralized finance versus traditional finance: Key differences

BankInovation

Listen to Bloomberg Crypto on the iHeartRadio App Listen to Bloomberg Crypto on Apple Podcasts Listen to Bloomberg Crypto on Spotify Something we say a lot here on the Bloomberg Crypto team is, “everything old is new in crypto.” And what we mean by that is that while there’s a perception that ideas like the blockchain are novel and groundbreaking, the […].

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7 mobile app features that will be essential to bank customers

American Banker

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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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BRAC Bank partners with TerraPay to augment cross-border payments

The Paypers

Bangladesh-based BRAC Bank has signed an agreement with TerraPay to enable faster cross-border payments.

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Emissions reporting could help banks allocate capital more effectively

American Banker

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BridgerPay partners PrestaShop and launches a module for merchants

The Paypers

Cyprus-based payments platform BridgerPay has teamed with ecommerce platform PrestaShop , launching a new module for ecommerce merchants to scale payments.

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Regions’ approach to near-term loan growth: ‘Very cautious, very careful’

American Banker

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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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FloBiz launches its e-invoicing service

The Paypers

FloBiz , an India-based neobank for Small & Medium Businesses (SMBs), has launched its e-invoicing service on its flagship GST invoicing and accounting product myBillBook.

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Amex bucks inflation fears as consumer and business travel soar

American Banker

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HSBC to sell its Russian unit to Expobank

The Paypers

HSBC has agreed to sell its Russia business to Expobank , signing a deal shortly before Moscow said it would move to block the sale of foreign banks' Russian businesses in retaliation for restrictions imposed on its own lenders.

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7 ways banks are responding to social and political change

American Banker

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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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Mahalo Banking completes USD 20 mln funding round

The Paypers

Mahalo Banking , a US-based CUSO that provides online and mobile banking solutions for credit unions, has completed a USD 20 million funding round.

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Huntington reports solid credit and strong earnings growth

American Banker

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ANZ to but Suncorp's banking arm

The Paypers

Australia-based lender ANZ has agreed to a USD 3.3 billion deal to acquire insurer Suncorp ’s banking arm in a bid to boost the size of its mortgage book.

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Latest banking news

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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Pivotree partners with Spryker to offer Commerce-as-a-Service

The Paypers

Canada-based commerce solution company Pivotree has teamed with commerce platform Spryker to offer Commerce-as-a-Service for B2B customers.

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Umpqua expects Columbia merger to close in Q3

American Banker

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Signifyd survey: shoppers in France are annoyed with SCA

The Paypers

US-based fraud prevention company Signifyd has released a survey, stating that consumers in France have a poorer shopping experience due to security measures.

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Can a small credit union take a bite out of Apple Pay's fees?

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.