Mon.Aug 01, 2022

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Salesforce Launches NFT Cloud

Perficient

Salesforce has launched a cloud-based service for the sale and creation of non-fungible tokens (NFTs). The first version of NFT Cloud was released in a limited pilot in mid-June at the Salesforce Connections conference in Chicago. Later this year, anticipated to be in October, Salesforce will make the product available to the public. This product represents Salesforce’s initial entry into blockchain technology.

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How banks commit to being great places to work

Accenture

I believe the “human connection” of middle market banks has always set them apart. This focus isn’t just about how banks treat their customers. It’s also about how they treat their employees—and how that translates into a positive employee experience that makes a bank a great place to work. The power of human connections at…. The post How banks commit to being great places to work appeared first on Accenture Banking Blog.

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Global Payments buys Evo at a premium

Payments Dive

Global Payments said it will pay $4 billion to buy Evo Payments as it sheds its Netspend consumer unit for $1 billion and takes a $1.5 billion investment from Silver Lake Partners.

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July Jobs and ISMs Headline Releases this Week

South State Correspondent

July Jobs and ISMs Headline Releases this Week. There once was a time when Minneapolis Fed President Neel Kashkari was easily the most dovish member of the FOMC. The fact he was on the Sunday news shows yesterday reiterating the hawkish case is just another sign of how intent the Fed is in getting inflation to decline in the months ahead. Kashkari said the Fed will do what it has to in order to get inflation back to their 2% target which remains quite a distance off.

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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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Effective model risk management and model validation in banking

Abrigo

Best practices for assessing models and managing risk Sound model development, implementation, use, and validation is especially important as CECL models debut. . Would you like other articles like this in your inbox? Takeaway 1 Models are relied upon to answer financial reporting and decision-making questions, including CECL reporting and budgeting.

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CFPB adds new debt collection rule FAQs

CFPB Monitor

Last week, the CFPB published additional frequently asked questions on Regulation F , its debt collection rule. The new FAQs address third-party communications, electronic communications, and unusual or inconvenient time and place provisions. Prohibitions on Third-Party Communications. The FAQs address the following questions: What is the Debt Collection Rule’s general prohibition on third-party communications?

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Blue Ocean Technologies Successfully Integrates with Broadridge Trading and Connectivity Solutions

Bobsguide

To better serve banks and broker-dealers in North America and APAC regions on the NYFIX network around the clock, global Fintech leader, Broadridge Financial Solutions, Inc. (NYSE:BR), announced a global partnership with Blue Ocean Technologies (BOT), a unique capital markets Fintech focused on global afterhours trading. Blue Ocean ATS (BOATS) will integrate with Broadridge’s NYFIX order-routing network to offer clients untapped, after-market access to US equities.

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5 questions with … UMB Bank Chief Information and Product Officer Uma Wilson

BankInovation

UMB Bank Chief Information and Product Officer Uma Wilson has focused on bringing together the technology and product development teams since assuming her role at the Kansas City, Mo.-based bank in 2021. The collaboration brings different viewpoints and better understanding of consumer needs, Wilson said, noting, “It’s all about solving our customers’ problems and how […].

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CFPB announces settlement with Hyundai to resolve alleged FCRA violations

CFPB Monitor

The CFPB announced last week that it has entered into a settlement with Hyundai Capital America (Hyundai) to resolve alleged violations of the Fair Credit Reporting Act and Regulation V arising from Hyundai’s reporting of information on vehicle retail installment contracts and leases to consumer reporting agencies (CRAs) from 2016 to 2020. The settlement requires Hyundai to pay a $6 million civil money penalty to the CFPB and $13.2 million in consumer redress.

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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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3 considerations fintechs are exploring for payment cards

BankInovation

The recent explosion of fintechs entering the market is evidence of a rapidly changing financial sector, offering new solutions to consumers who are looking for more convenient ways to use their money. As fintechs and digital banks alike grow their customer base, many recognize the importance of combining a physical card strategy with a digital […].

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FHFA announces Office of Financial Technology

CFPB Monitor

On July 18, the Federal Housing Finance Agency (“FHFA”) announced the launch of a new Office of Financial Technology with the goal of advancing effective risk management as it evaluates fintech developments in the housing finance space. The FHFA also issued a request for information (“RFI”) seeking public input on how to facilitate responsible innovation, identify barriers or challenges to implementing fintech into housing finance, support equity for homeowners and renters, and increase efficie

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HSBC vows to restore dividends to pre-Covid levels amid investor pressure

TheGuardian

Banker bonuses cut as top shareholder Ping An pushes to break up lender HSBC has slashed banker bonuses and pledged to restore dividends to pre-pandemic levels, as the London-headquartered bank attempts to appease investors, including the top shareholder Ping An, which is pushing to split up the lender. It came as the bank reported flat pre-tax profits of $5bn (£4.1bn) for the second quarter.

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GFT are finalists in two categories for the Cloud Excellence Awards 2022

Bobsguide

GFT are finalists in two categories for the Computing Cloud Excellence Awards 2022! GFT are in contention for both the ‘Best Cloud Project’ and ‘Best Cloud Support Provider’ prizes which recognises GFT’s specialist cloud capabilities and ability to accelerate the journey to the cloud. The post GFT are finalists in two categories for the Cloud Excellence Awards 2022 appeared first on Bobsguide.

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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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Open Banking inspiration: Brazil to enter Open Health

The Paypers

The Brazilian government and the National Supplementary Health Agency (ANS) have intended to launch a new platform for Open Health that promises to speed up portability between health plans, according to Valor Investe.

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UiPath acquires natural language processing firm Re:infer

BankInovation

Robotic process automation (RPA) giant UiPath closed its acquisition of natural language processing (NLP) company Re:infer today, bringing communications mining capabilities to its platform. Terms of the deal were not disclosed. “Today, over 80% of enterprise data is unstructured, meaning it cannot be easily analyzed and used to improve business operations or outcomes,” Ted Kummert, […].

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UK government puts banks in the spotlight after releasing BBLS data

The Paypers

The UK government has published the first figures on the performance of its three emergency COVID-19 loan guarantee schemes, pushing banks like Starling Bank to explain their reliance on state-back funding.

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Credit unions hike CEO pay to meet industry's new complexities

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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Shopify secures investment in music commerce app Single

The Paypers

US-based music commerce app Single has secured an investment from Shopify and launched a token-gated commerce and content feature.

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Three keys to successful CRA reform

American Banker

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Amber Group achieves Level 1 compliance for payment cards

The Paypers

Global digital asset platform Amber Group has announced it achieved Level 1 Payment Card Industry Data Security Standard (PCI-DSS) certification after an audit conducted by an independent, privately-owned company.

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Connecticut community bank deploys AI-powered spending insights

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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Polygon and Techstars develop Web 3.0 accelerator programme

The Paypers

Decentralised Ethereum scaling platform Polygon has partnered Techstars , a global investment business, to develop a Web 3.0 theme being applied to Techstars’ London Q1 2023 accelerator programme.

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Wells Fargo restores diversity guidelines after ‘fake interview’ fallout

American Banker

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Global Payments to finalise acquisition EVO Payments

The Paypers

US-based worldwide provider of payment technology and software solutions, Global Payments , has announced a definitive agreement to acquire EVO Payments , a fintech global provider of payment technology integrations and acquiring solutions.

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Why businesses are growing frustrated with the service at their bank

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.