Wed.Oct 12, 2022

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Nearly half of Gen Z, millennials to tap BNPL for holiday shopping

Payments Dive

That buy now-pay later outlook emerged from a new Bluedot survey that also showed 43% of consumers are likely to open a new store credit card during the yearend shopping period.

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“Time-on-Task” Should Be Your Dominate Banking Metric

South State Correspondent

While “customer delight” is a worthy goal, few banks should focus on the concept. We covered various methodologies HERE. Instead of trying to “Wow” your customer, in this article, we present the “time-on-task metric” (and its companion, the Customer Effort Score (CES) framework) and detail not only why it matters but why it can change the course of your bank.

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Card amendment misses defense funding bill

Payments Dive

U.S. Sen. Dick Durbin wasn’t able to attach the Credit Card Competition Act proposal to a defense funding bill this week, but he will try again next month.

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Macro-Economic Impacts and Portfolio Management (September 2022)

Jack Henry

On September 21, 2022, the Federal Open Market Committee (FOMC) increased the federal funds rate by 0.75% to help achieve its objective of maximum employment and controlled long-term inflation at 2%.

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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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Will Toast achieve profits next year?

Payments Dive

Restaurant payments company Toast may be on a path to profitability by the third quarter of next year, Mizuho Americas analysts predicted this week.

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Capturing Commercial Accountholders – Takeaways from Jack Henry™ Connect 2022

Jack Henry

Amidst the hustle and bustle of working this year’s Jack Henry Connect, I had the great fortune to attend some inspiring sessions focused on capturing commercial accountholders. It was clear from the start this challenge would require an entire ecosystem of financial technology – satisfying a diversity of businesses with equally diverse needs requires solutions that provide optionality and allow for a tailored strategic approach.

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UK’s 13-year housing market boom to end in 2023, surveyors predict

TheGuardian

RICS report says rise in repossessions will add to supply while soaring interest rates price buyers out of market Homeowners will struggle to make mortgage repayments and repossessions will rise next year as soaring interest rates and falling prices mark the end of the UK’s 13-year housing market boom, according to a sobering report from the Royal Institution of Chartered Surveyors (RICS).

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Ripple expands into Europe with two partnerships

The Paypers

US-based blockchain and crypto solutions provider Ripple has announced its first On-Demand Liquidity (ODL) customer in France, partnering with Lemonway , and in Sweden with Xbaht.

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Australian banks hit with payment transfer outage as RBA blames technical error

TheGuardian

Reserve bank says system is back up and running on Thursday, and they are working to clear the backlog Follow our Australia news live blog for the latest updates Get our free news app , morning email briefing or daily news podcast The Reserve Bank has said an internal system engineering issue caused a four-hour industry-wide bank payment transfer outage that left customers in the lurch.

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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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Google, Santander partner to ease cloud tech transition

The Paypers

Giant tech Google has announced a new strategic partnership with Banco Santander to help companies across various industries to transition from legacy mainframe systems to cloud tech.

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Transactions: Google, Santander team up on cloud software

BankInovation

Google Cloud and $147 billion Banco Santander recently unveiled Dual Run, a solution that simplifies the migration of legacy mainframe systems to the cloud. Dual Run is built on Madrid-based Santander’s technology and enables parallel processing, which allows customers to run workloads on existing mainframes as well as Google Cloud, perform real-time testing, and gather […].

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SIX Digital Exchange launches crypto assets custody service

The Paypers

SDX Web3, the newly launched business unit from SIX Digital Exchange , has gone live with its Institutional Custody Service for Crypto Assets.

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KeyBank customers embrace digital banking

BankInovation

Banking customers are embracing digital platforms to access their accounts and pay their bills, and more than one-third are looking to adopt digital banking as their primary form of banking within the next six to 12 months, according to a recent poll conducted by $139 billion KeyBank. Thirty-six percent of more than 1,500 Key customers […].

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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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Deutsche Bank and Fiserv launch Vert

The Paypers

Deutsche Bank and Fiserv have launched Vert, a payment acceptance and banking services provider to small and medium-sized enterprises (SMEs).

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Citi to launch 24/7 cross-border payments

BankInovation

Citi Treasury and Trade Solutions, a division of Citi’s Institutional Clients Group, announced plans to launch 24/7 Clearing in the fourth quarter, a service allowing its 1,500 financial institution clients to make cross-border payments at any time of day. “As entire business modes of our clients and clients’ clients shift to 24/7 models, it became […].

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Thoma Bravo acquires ForgeRock

The Paypers

Thoma Bravo , a US-based private equity and growth capital firm, has acquired ForgeRock , a digital identity provider, for USD 2.3 billion.

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Evaluating competency is key to hiring process, ex-Google recruiter says

BankInovation

ORLANDO, Fla. — Evaluating a candidate’s competency is key to the hiring process, and a step that financial institutions must take to combat attrition, Ginny Clarke, the former director of executive recruiting at Google, said during a keynote address at the 61st annual Equipment Leasing and Finance Association (ELFA) Convention in Orlando, Fla., on Monday.

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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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Indue, BioCatch offer behavioural biometrics powered fraud detection

The Paypers

BioCatch has partnered up with Indue , end-to-end payment solution provider in Australia and New Zealand, to help protect Indue’s customers from fraud.

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Fed's Barr says banks should be cautious with crypto partners

American Banker

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Fluro announces GBP 200 mln financing partnership with BNP Paribas

The Paypers

UK-based embedded lender Fluro has announced a GBP 200 million financing partnership with BNP Paribas aimed at expanding its lending capabilities.

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7 banks and other firms changing payroll to battle inflation

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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Nuvei Simply Connect augments transactions for SMEs

The Paypers

Canada-based payment platform Nuvei has launched Simply Connect, a ready-to-use, fully customisable payments interface to help businesses grow.

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Citizens offers carbon offsets to sustainability-focused corporate clients

American Banker

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JP Morgan and Visa connect their private blockchains for cross-border payments

The Paypers

JP Morgan has partnered with Visa to streamline global payments using their private blockchain networks, Liink and B2B Connect.

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Latest global banking news

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.