Fri.Mar 18, 2022

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Payments industry makes a tempting target for hackers

Payments Dive

The industry might not be experiencing a major uptick in cyberattacks as a result of Russia's war on Ukraine, but that doesn't mean it shouldn't be on high alert, cybersecurity professionals say.

Industry 370
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Why You Should Colour-Code Your Budget This Holi

BankBazaar

It is now time to forge a new path forward with your finances. Although budgeting may not have worked for you earlier, colour-coding your budget is your new budgeting lifesaver! . Let’s start! Let’s work on creating your monthly budget. Whoa, wait! Did you just roll your eyes, or did you snort with derision? We get it. For many, trying different budget management methods has either not worked or they just despise the many restrictions that come along with it. .

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Merchants lose North Dakota debit fee case

Payments Dive

Merchant trade groups that sued the Federal Reserve Board in federal court last year over what they alleged was the central bank's failure to keep debit card fees in check had their case dismissed this week. They said they'll appeal the ruling.

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The 'ins and outs' of EMV

ATM Marketplace

Over the past few years, there has been a lot of confusion about EMV — what is it, why do you need it, and what will happen if your card readers don't accept EMV transactions. So, what is EMV and why is it essential as we look towards the future of payments?

Cards 115
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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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FICO Response to the War in Ukraine

FICO

As a result of the attack on Ukraine, FICO is exiting all work in Russia. Consistent with directives by governments around the world, we are actively unwinding our business relationships in Russia and will not be pursuing new business in Russia. To support the humanitarian efforts underway, the FICO Cares team in EMEA has made a donation to the British Red Cross and FICO is making a donation to the American Red Cross.

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Bitesize: Efficiently green? What a simple metric can tell us about banks’ exposure to energy price shocks and the transition to a green economy

BankUnderground

Benjamin Guin. UK residential buildings account for about 15% of greenhouse gas emissions. To facilitate the transition to a low-carbon economy, the UK government aims to see many homes upgraded to an energy (EPC) rating of C or higher by 2035. Mortgage lenders are key in transitioning to more energy-efficient housing by financing purchases. This transition can be informed by a simple metric – like the portfolio share of mortgages for energy-efficient properties (with a rating of C or higher) re

US 81
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Fintech Funding: Automated mortgage fintech EarnUp closes $31M series C

BankInovation

Automated payments fintech EarnUp announced Tuesday that it raised $31 million in a series C funding round. KeyBank and LendingTree led the round, with investment from participation from Bain Capital Ventures, SignalFire, Blumberg Capital and Flourish Ventures. EarnUp automates payments and uses just-in-time data to streamline mortgage and financing for retail customers, with adjustable autopay […].

Fintech 98
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U.S. banks haven’t had a ‘digital Pearl Harbor’ yet. Is one coming?

American Banker

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Fiserv holds 40% marketshare among core bank processors in Q1

BankInovation

Core provider Fiserv held 40% marketshare among the top bank core processors during the first quarter of 2022. Fintech data analytics company FedFis on Wednesday released the 2022 market information in chart form. All core providers listed are based in the U.S., except London-based Finastra. FedFis tracks financial, merger and acquisition, and vendor data — […].

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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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Adobe to launch AR ecommerce shopping tool

The Paypers

US-based multinational computer software company Adobe has debuted a new technology to help retailers embed augmented reality (AR) shopping options into their ecommerce platforms.

Tools 36
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Heard of the “Challenger Sale”? Here’s What Works Even Better…

The Emmerich Group

The past decades and even centuries have witnessed much banking innovation. Consider pneumatic capsule transportation (1799), the credit card (1950), and the ATM (1967). Those innovations were external—easily visible to everyone. But there is also a history of innovation that’s internal to the industry, with bellwether changes to banking sales management and its increasing focus.

ATM 36
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FIS report: PIX to increase bank transfers recurrence in Brazil

The Paypers

US-based fintech services company Fidelity National Information Services (FIS) has released ‘ The Global Payments Report ’ in which states that the use of PIX in ecommerce will double by 2025, in Brazil.

Report 36
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Make This the Year NIM Stands for Nothing Is Impossible

The Emmerich Group

I’ve been in banking for more than 30 years. Recently, I tried to estimate how often I’ve heard a community bank CEO say, “No matter what we do, we can’t get our NlM out of the 3s. It’s impossible.” It turns out that I can’t estimate it. The number’s so high I’ve lost count. Whenever. Continue Reading. The post Make This the Year NIM Stands for Nothing Is Impossible appeared first on Roxanne Emmerich.

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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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Traxpay, Landgard and NORD/LB expand cooperation with digital guarantees

The Paypers

Germany-based supply chain finance platform Traxpay and wholesale company Landgard have announced launching the new Traxpay program "Digital Guarantees" to protect against payment defaults.

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Do You Have the Right Chemistry on Your Team?

The Emmerich Group

In my newest series of books about WHY certain teams win championships in professional sports, I was blown away by the importance of one singular metric. It was consistently woven throughout the locker rooms and front offices of every successful organization I researched: CHEMISTRY. How Do You Build a Great Team? Sure, talent is important, Continue Reading.

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CFPB expands its authority to punish banks for discrimination

American Banker

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Russia's central bank keeps key interest rate at 20%

The Paypers

Russia's central bank kept its key interest rate at 20% on 18 March following an emergency rate hike in late February and warned of an imminent spike in inflation and a looming economic contraction.

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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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Banking news roundup

American Banker

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Bluecode launches mobile payment platform in Nigeria

The Paypers

Austria-based payment solution Bluecode has launched its mobile payment platform in Nigeria in collaboration with three Nigerian banks.

Mobile 34
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Ax falls early on Heartland Financial USA’s activist chairman

American Banker

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Shenzen asks lenders to provide support to recovering SMEs

The Paypers

Shenzhen’s financial authorities have called for lenders within the city to ensure they provide adequate support to small businesses still reeling from the impacts of COVID-19-related restrictions.

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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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Trapped in Russia, Europe’s banks weigh the cost of breaking out

American Banker

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Paynovate taps iDenfy's ID verification solution

The Paypers

Belgium-based e-money company Paynovate has partnered with iDenfy to speed up and augment the registration process for new customers.

Company 31
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BNY Mellon joins other U.S. banks pulling back in Russia

American Banker

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Sendcloud integrates with Mirakl Connect for delivery augmentation

The Paypers

Netherlands-based shipping platform Sendcloud has integrated into marketplace ecosystem Mirakl to augment its delivery experience.

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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.