Fri.Jan 20, 2023

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PayPal confirms data breach

Payments Dive

Impacted customers were notified of the incident nearly a month after it was discovered. It’s unclear where or how customer account credentials were obtained.

Data 195
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Fintech partnerships to lead the way in 2023

ATM Marketplace

While initially seen as rivals, banks now view fintechs as partners to build innovative financial tools customers want, while still retaining the trust of a traditional financial institution.

Fintech 103
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FIS director resigns after appointment last month

Payments Dive

An FIS director resigned last week after being appointed to the board in December, and the payments processor appointed two new directors.

Payments 195
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‘It will affect all of us’: how bank closures have hit one UK town

TheGuardian

In a week when several big banks announced they were axing branches, we talk to locals concerned over effect on elderly and vulnerable people Lloyds and Halifax to close 40 bank branches in England and Wales “I’ve been with them since I left school. I’m really sad it’s going – where do we go now?” An older couple who have lived in the Cheshire market town of Sandbach their whole lives are talking about how the imminent loss of its last bank will affect those who struggle to use online banking se

US 98
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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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Event on January 31 Focuses on Month End Activities for Banks

Banking Exchange

Automation supercharges any process and brings its value to the forefront Technology Financial Trends Lines of Business Feature Human Resources Feature3 Management Digital

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Link raises USD 30 mln to give merchants access to direct bank payments

The Paypers

US-based payments company Link has raised USD 30 million to dat, after a USD 20 million Series A and a USD 10 million seed round, to expand merchants’ access to direct bank payments.

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Truist acquires BankDirect Capital Finance in Q4

BankInovation

Truist Financial closed its acquisition of finance company BankDirect Capital Finance in the fourth quarter of 2022. The deal for the finance company to operate under the bank’s Truist Insurance Holdings arm was announced Sept. 6, according to a Truist release.

Capital 52
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UK, Thailand to improve trading

The Paypers

The UK Centre for Digital Trade and Innovation (C4DTI) and the Electronic Transaction Development Agency (ETDA) have partnered to improve trading between the UK and Thailand.

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Huntington prioritizes tech initiatives in Q4

BankInovation

Huntington Bancshares is planning to accelerate its automation efforts using savings gained from shuttering 63 branches in 2022. WHY IT MATTERS: Huntington outlined during its August 2022 Investor Day some core tech initiatives, including automating and enhancing the customer experience.

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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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One Group partners with fintech company Know Your Customer

The Paypers

UK-based provider of financial services ONE , has announced its partnership with Know Your Customer to deliver an improved onboarding experience for its clients.

Groups 64
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Ally looks to tech industry layoffs for potential hires

BankInovation

Ally Financial is looking to capitalize on recent layoffs of tech talent to grow its own digital platforms despite potential economic turbulence to come this year.

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MoonPay expands its Web3 presence by acquiring Nightshift

The Paypers

Crypto payments firm MoonPay has acquired Web3 creative agency Nightshift in order to help brands expand into crypto and collectible tokens.

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Native American neobank Totem takes on its first tribal partner

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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Paymentus announces collaboration with Green Dot

The Paypers

Real-time bill payment services company Paymentus has partnered with US-based fintech Green Dot to expand the Cash Bill Pay features into its Instant Payment Network.

Fintech 36
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Morgan Stanley cuts Gorman's pay 10% to $31.5 million for 2022

American Banker

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IXOPAY and Fraud.net team up to fight fraud

The Paypers

Europe-based independent provider of payment orchestration solutions, IXOPAY has announced a strategic partnership with fraud and risk management provider Fraud.net.

Fraud 36
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Credit unions turn to chatbots and AI for member service

American Banker

Fintech 78
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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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Oro raises USD 13 mln

The Paypers

Open-source ecommerce platform Oro has closed a USD 13 million strategic growth funding round led by private equity firm Zubr Capital to accelerate B2B ecommerce.

Capital 36
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20 community banks with the highest returns on average assets

American Banker

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CFPB issues guidance to eliminate confusing subscription practices

The Paypers

The Consumer Financial Protection Bureau (CFPB) has addressed patterns and other tricks companies use to confuse and deceive consumers enrolled in subscriptions.

Company 36
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Crypto lender Nexo pays $45 million in fines to SEC, states

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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KLYM has raised USD 27 mln

The Paypers

KLYM , a Colombia-based fintech that provides working capital to small and medium-sized companies, has received a USD 27 million round of investment.

Capital 36
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SVB Financial forecasts lower deposits, net interest income for 2023

American Banker

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Bitwarden buys Passwordless.dev to support passwordless authentication

The Paypers

US-based password management platform Bitwarden has acquired Sweden-based startup Passwordless.dev to support authentication without passwords.

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Ally is ready for escalation in auto charge-offs, execs say

American Banker

Lending 74
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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.