Wed.Apr 20, 2022

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2022's restaurant payment tech push includes QR codes, kiosks

Payments Dive

From QR codes to advanced mobile apps and robots, restaurants are planning to adopt more technology within their operations — including payments — in the year ahead.

Payments 439
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Banks capture cloud value with talent and culture

Accenture

This blog series began with a look at some of the challenges facing banks on their journey to cloud. This post focuses on a necessary shift for banks to maximize the value from their cloud migration: changing the bank’s culture. In my second Banking Cloud Altimeter Conversations video with Keri Smith, who leads Accenture’s Applied…. The post Banks capture cloud value with talent and culture appeared first on Accenture Banking Blog.

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How The Babe Can Improve Risk Mitigation At Your Bank

South State Correspondent

It was 102 years ago, almost to the day, that Babe Ruth hit his first home run as a Yankee against his previous team, the Boston Red Sox. That hit launched a juggernaut that not only changed baseball but changed the view of both team building and risk mitigation. In this article, we highlight the not-so-obvious lessons in banking learned from the New York Yankees when they managed the Sultan of Swat.

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NovoPayment lands $19M, spearheads US growth

Payments Dive

Miami-based NovoPayment, the banking-as-a-service provider of digital payments and other services, is collecting capital for an expansion move in the U.S., just as its key business territory in Latin America is heating up as a destination for international fintech expansion.

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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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Finastra teams up with EcoTree to provide a green offering for banks on the journey to net-zero emissions

Bobsguide

Finastra teams up with EcoTree to provide a green offering for banks on the journey to net-zero emissions. London, UK – April 20, 2022 – Finastra today announced that it has teamed up with EcoTree, a specialized forestry company focused on carbon removal and biodiversity preservation through tree planting and sustainable forestry management. The initiative provides Finastra customers the opportunity to remove the carbon footprint associated with both the running and implementation of technologic

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CFPB files lawsuit against TransUnion and former executive alleging violations of 2017 consent order

CFPB Monitor

The CFPB has filed a new lawsuit against TransUnion, two of its subsidiaries (TransUnion Interactive, Inc. (TUI) and TransUnion, LLC (TULLC)), and a former TUI executive alleging that the defendants violated the CFPB’s 2017 consent order with the corporate defendants. The consent order settled the CFPB’s claims that TransUnion had engaged in deceptive marketing of credit-related products.

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US M&A banking boom sheds new light on need for digital transformation

BankInovation

Whether it’s People's United Financial merging with M&T Bank, PNC acquiring BBVA, or BMO buying Bank of the West from BNP Paribas in a deal worth $16.3 billion, M&A activity across the US banking industry has continued to gain momentum within the past year Following the onslaught of the COVID-19 pandemic in 2020, mid-tier banks […].

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BoE asks financial firms for £24m more to keep track of risks from crypto assets

TheGuardian

Levy increase needed to hire 100 extra staff in response to ‘new policy responsibilities’, says regulator body The Bank of England is asking lenders and insurers to pay an extra £24m so it can hire 100 extra staff and keep track of new risks, including those linked to crypto assets. The central bank’s Prudential Regulation Authority (PRA), which is in charge of managing systemic risks across the financial sector, said it was expanding its 1,341-strong workforce in response to “new policy respons

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Music distribution and payments service Stem raises $20M from Block. Stem competitors are Revelator, Paperchain, Distrokid, and beatBread.

CB Insights

Stem , a music distribution and payments service, has raised $20M in a Series C. The round drew participation from QED Investors, Block, Quality Control, and Slow Ventures. <span data-sheets-value='{"1":2,"2":"<div class="cbi-cta-shortcode-wrapper"><div class="cbi-cta-shortcode-content"></div><div class="cbi-cta-shortcode-forms" ><div class="cta has-desktop"><div class="cta-desktop center

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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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Credit Suisse issues profit warning caused by jump in legal costs

TheGuardian

The bank, beset by a string of controversies, has put aside an extra 600m Swiss francs for unspecified cases Credit Suisse has announced it is likely to report a first-quarter loss owing to a jump in legal costs, as the beleaguered bank tries to draw a line under a string of scandals. The Swiss lender issued the profit warning before its scheduled earnings report next week, saying it would be putting aside an extra 600m Swiss francs (CHF) (£485m) after “developments in a number of previously dis

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Open-source calendar scheduling software Cal.com raises $25M. Cal.com competitors include Calendly, Chili Piper, CommandDot, and Doodle.

CB Insights

Cal.com, a provider of open-source calendar scheduling software, has raised $25M in a Series A. The round drew participation from Seven Seven Six, OSS Capital, Obvious Ventures, and Daily.co, among others. 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 Q1 2022. First name.

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Commerzbank applies for BaFin license for crypto custody

The Paypers

Germany-based bank Commerzbank has announced applying for a Federal Financial Supervisory Authority (BaFin) license for a crypto custody business.

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NATO taps FS-ISAC to lead cybersecurity exercises

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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Robinhood to acquire Ziglu

The Paypers

Robinhood has agreed to buy UK-based crypto company Ziglu , as the US retail brokerage steps up its expansion beyond share trading and makes a second attempt to push into Britain.

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Why this credit union says AI can reduce lending bias

American Banker

Lending 90
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Arkose Labs launches attack intelligence offering 'Arkose Detect'

The Paypers

US-based fraud prevention company Arkose Labs has unveiled its standalone real-time risk score and attack intelligence offering ’Arkose Detect’

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Comerica boosts energy lending as oil prices soar

American Banker

Lending 87
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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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NICE Actimize chosen by LGT for AML

The Paypers

Private banking group LGT has chosen US-based NICE Actimize ’s Markets Surveillance and AML solutions along with its targeted compliance offerings.

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After slow quarter, M&T says People's United deal will fuel loan growth

American Banker

Lending 85
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Ultimaco acquires Celltick to expand PWS services

The Paypers

Global provider of cybersecurity and compliance solutions, Ultimaco , has acquired US-based fintech of Public Warning Systems (PWS) and Mass Notification Systems (MNS) company Celltick.

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Bankers with bad CO2 targets face certification crackdown

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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Daali partners Salt Edge for Open Banking solution

The Paypers

Daali , a UK-based automated cashback platform for in-store card transactions, has partnered Salt Edge , provider of Open Banking solutions.

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High-risk payments are proving harder for banks to avoid

American Banker

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Uplift selected by Vail Resorts to launch 'Epic FlexPay Powered by Uplift'

The Paypers

US-based BNPL provider Uplift has partnered with Vail Resorts and launched ‘Epic FlexPay Powered by Uplift’, allowing guests to pay over time.

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How Congress could increase homeownership for minorities

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.