Thu.Mar 31, 2022

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CEOs Sound Off: Confronting a lack of diversity in payments

Payments Dive

Payments CEOs recognize the need to draw more women and people of color into the industry, and the need to promote them. To effect change, these CEOs are changing job descriptions, casting a wider net in recruiting and showcasing how they're different.

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The ICBA 22/23 executive committee is all in

Independent Banker

Photos by Chris Williams. From credit union overreach to onerous overregulation, the 2022/23 ICBA board of directors has plenty on its to-do list. Executive committee members tell us what advocacy issues they’ll be focused on during their terms, while board members share their words of wisdom for up-and-coming community bankers: themselves. To sum it up, these leaders are all in and all heart for community banking.

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Cross River reaches $3B valuation, eyes global expansion

Payments Dive

The company has a sweet spot in payments. Cross River's fintech clients include payments juggernaut Stripe, buy now-pay later provider Affirm and crypto exchange Coinbase.

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Brad M. Bolton: Advancing our communities

Independent Banker

Photo by Chris Williams. My bank’s tagline is ‘Where dreams meet solutions,’ and it serves as my guiding inspiration at the bank and, now, at the national level. As community bankers, our customers depend on us to keep their dreams alive. In today’s tumultuous environment, optimism is a skill worth cultivating. Thankfully, that glass-half-full attitude comes naturally for community bankers.

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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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Small businesses adjust to inflation, supply chain disruptions: survey

Payments Dive

A new survey from American Express and its Kabbage unit found nearly two-thirds of small businesses will keep their inflation-adjusted pricing for the next six months.

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Finastra to use UiPath’s RPA solution

BankInovation

Core provider Finastra will use UiPath’s cloud-based robotic process automation (RPA) solution to allow partners to build and sell automations to the financial market. The U.K.-based financial software company is among the new or expanded partnerships UiPath highlighted Wednesday during its fourth-quarter earnings call. “Additionally, Finastra expects to include UiPath capabilities in their own offerings, […].

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Lindsay LaNore: All in. All heart.

Independent Banker

Photo by MicroStockHub/iStock. There’s nothing like going above and beyond—but being recognized for it feels pretty great, too. By Lindsay LaNore, ICBA. Last month, we hosted the 2022 ICBA LIVE event in San Antonio, and the theme for the general sessions was “All In. All Heart.” But what does it mean to go all in ? According to Merriam-Webster, the expression all in means “fully committed to or involved in something.

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Citizens debuts earned wage access for corporate clients

BankInovation

Citizens announced Tuesday an earned wage access (EWA) solution for corporate clients, offering prompt access to accrued earnings for participating employees. The solution reflects Citizens’ efforts to expand into “bank-agnostic and treasury-adjacent solutions,” and accommodate changing employee needs, Kavita Kurella, senior vice president at the Providence, R.I.

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Rebeca Romero Rainey: Stories worth telling

Independent Banker

Photo by Chris Williams. This Community Banking Month, I invite you to try something new to spread your story. Share a new development, community project or initiative. As community bankers, we know relationships matter. Our actions in support of local schools, nonprofits, businesses and other community institutions make a difference, and when our customers see our commitment to our communities, it deepens their connection with us.

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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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Your Ultimate Checklist For The New Financial Year

BankBazaar

As we welcome the new financial year, here are a few pointers to kick-off FY 22-23 like a pro! We’ve prepared the ultimate checklist for you. Just like that, we start the new financial year. Did you achieve the goals you’d set for yourself last year? If you did, more power to you! However, if you missed, another opportunity to right your financial wrongs presents itself now.

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Charles Potts: Growing small business banking

Independent Banker

Photo by NoSystem images/iStock. We live in unprecedented times, filled with new challenges and opportunities for small businesses. Fortunately, community banks have greater access than ever before to advanced solutions and technologies to meet those needs. By Charles Potts, ICBA. Small businesses are the backbone of the U.S. economy, accounting for 99% of companies with paid employees and 65% of net job creation from 2000 to 2017, according to the Small Business Administration (SBA).

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U.S. Supreme Court restricts ability of federal courts to confirm or vacate arbitration awards

CFPB Monitor

Ruling on an important Federal Arbitration Act (FAA) procedural issue that has divided the circuit courts, the U.S. Supreme Court has decided that the “look-through” approach often used in determining whether federal jurisdiction exists to decide motions to compel arbitration filed under Section 4 of the FAA does not apply to motions to confirm or vacate arbitration awards filed under Sections 9 and 10 of that statute.

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How to create a seamless core conversion

Independent Banker

Photo by RYosha/iStock. Making the switch to a new core technology provider can be a daunting task, since many core relationships last years, if not decades. Faced with several transitional issues, here’s how these community banks gained support from their new providers to adapt to the change. By Elizabeth Judd. Two years before changing core processors, Asian Bank began conducting weekly meetings to brainstorm attributes its dream core provider would possess.

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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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CFPB issues report on credit card late fees

CFPB Monitor

The CFPB has issued a report titled “ Credit card late fees ” that discusses the consumer impact of late fees by card type, credit score, and geography, and market reliance on late fees. (Late fees are also among the fees at which the CFPB has taken aim in its “junk fees” initiative.) Following a pattern established under former Director Cordray, the CFPB used relatively neutral language in its report and more judgmental language in Director Chopra’s comments contained in the Bureau’s press re

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The benefits of small business relationships

Independent Banker

One Community Bank’s 30-year relationship with All-Color Powder Coating is carried on by banker Steven Erickson (left) and Dan Anderson. Photo: Sharon Vanorny. Whether achieved by internal or external resources, community banks provide valuable support for small businesses. Here, bankers share how they build and maintain long-standing partnerships with their business customers.

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County Government office resolves end-of-day settlement issues and reduces labor costs with CIMA Cash Recyclers

ATM Marketplace

Vita Lansworth is pleased to announce the sale and installation of eight (8) CIMA Teller Cash Recyclers at the Wayne County Treasurer’s Office (WCTO) in Detroit, Michigan.

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A community bank-fueled payments rail

Independent Banker

Julieann Thurlow, CEO of Reading Cooperative Bank, hopes other ICBA member banks will support the CHUCK payment network. Photo by Donis Perkins. A secure, open-loop, cost-saving, customer-accessible, multiplatform P2P payments network might sound too good to be true, but community bank consortium Alloy Labs Alliance hopes to achieve just that with the CHUCK payment rail.

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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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A look at the CFPB’s first months under Director Rohit Chopra, with special guest Chris Peterson, John J. Flynn Endowed Professor of Law, University of Utah’s S.J. Quinney College of Law

CFPB Monitor

Professor Peterson, who served at the CFPB under former Director Cordray, shares his perspective on the CFPB’s publicly-announced enforcement activities and initiatives under Director Chopra and what they might signal for future enforcement and supervisory activities. The matters discussed include the UDAAP implications of the CFPB’s focus on pricing in its enforcement action against JPay, the CFPB’s use of UDAAP to challenge discrimination not involving credit, and the CFPB’s junk fees initiat

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Klarna launches Klarna Kosma division for Open Banking

The Paypers

As announced during this exclusive interview with The Paypers , Klarna has launched a new business unit that has its own brand — Klarna Kosma, as reported by TechCrunch.

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BA investors as much as customers deserve explanation for IT woes | Nils Pratley

TheGuardian

It’s hard to fathom why airline and IAG didn’t throw kitchen sink at deep-rooted problems years ago Guess the year in which a City analyst wrote this introduction to a research note on British Airways’ parent company, IAG: “BA suffered yet another operational failure yesterday, this time larger than the spate of rumbling issues over the last year. As yet the cause is not known.

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Employee performance management software Leapsome raises $60M from Insight Partners. Leapsome competitors include 15Five, Lattice, and Culture Amp.

CB Insights

Leapsome , an employee performance management software provider, has raised $60M in a Series A that drew participation from Creandum, Insight Partners, and Visionaries Club. the state of venture report. Download our free report to get the TL;DR on what you need to know about venture funding and trends in 2021. First name. Last name. Email. Company name.

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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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99% of FDIC Supervised Banks Rated Satisfactory or Better for Consumer Compliance

ABA Community Banking

The FDIC said today that 99% of the banks it supervises were rated satisfactory or better for consumer compliance and Community Reinvestment Act compliance, as of the end of 2021. The post 99% of FDIC Supervised Banks Rated Satisfactory or Better for Consumer Compliance appeared first on ABA Banking Journal.

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Cross River announces USD 620 mln capital raise

The Paypers

CRB Group , the parent company of Cross River Bank , a technology infrastructure provider that offers embedded financial solutions, has announced a USD 620 million financing.

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How to Build a Top Performance Culture

The Emmerich Group

How do you, as an executive, build a performance culture that attracts top talent, retains top talent, and allows your bank to thrive? Top performance culture is easier said than done—but it can be done You just have to know the magic performance culture formula that works for other banks and apply it within your. Continue Reading. The post How to Build a Top Performance Culture appeared first on Roxanne Emmerich.

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Tricount partners with Aion Bank and Vodeno to launch in-app one-click bank transfer

The Paypers

Tricount , Aion Bank , and Vodeno have partnered to launch Tricount’s new service, which allows its users to reimburse expenses in its app through a one-click bank transfer.

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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.