Wed.Mar 09, 2022

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White House lays out digital asset priorities

Payments Dive

The White House said Pres. Biden will deliver an executive order today explaining how the U.S. government will approach digital assets, laying out priorities for protecting U.S. consumers and businesses; ensuring a stable global financial system; and promoting American leadership in the use of the emerging technology.

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February CPI Looms for Market

South State Correspondent

February CPI Looms for Market. The back-up in yields this week has several reasons driving it but concern about inflation is certainly one of the primary factors. Part of the uncertainty about inflation will be answered by tomorrow’s February CPI report. The news is not expected to be good as the overall monthly CPI is expected up 0.8% taking the year-over-year to 7.8% which would be a new cycle high.

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Core Unicorn Deals Rattling the Future of Financial Technology

Gonzobanker

Bank executives should take these new deals’ valuations as a sign that the free market sees the future of finance as unbundled from the traditional industry structure. The unicorns of core banking systems have been running wild the past few weeks, and these frothy deals signal a future shift in how executives should view the world of financial technology.

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Transactions: Banks deploy technologies from Copper.co, Pindrop, Zebra Technologies and Scienaptic AI

BankInovation

State Street Bank announced today that it will leverage Copper.co, a London-based provider of digital asset custody and trading infrastructure, to develop an institutional-grade digital custody offering. The solution will allow clients to store and settle their digital assets within a secure environment operated by State Street, according to a release.

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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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Green credentials of world’s largest investor questioned over oil industry emails

TheGuardian

BlackRock ‘trying to have their cake and eat it’, says Greenpeace, as freedom of information requests reveal pressure on major banks Emails have revealed the high-wire act performed by major banks and the world’s biggest asset manager, BlackRock, as they privately soothe oil industry concerns about their public support for greener investment. In his annual letter to chief executives, BlackRock boss Larry Fink said that pursuing climate action policies was not about being “woke” but was about pur

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Australia and UK sign landmark trade deal

Bobsguide

The Australia–United Kingdom Free Trade Agreement (Australia-UK FTA) signed on 17 December 2021 is a historic and ambitious trade agreement that will deliver mutual benefits for exporters, investors, and consumers in both countries. The Australia-UK FTA, set to come into force in 2022, will enable fintech services that are new, or delivered via new technologies, to be supplied in each other’s territory.

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Best practices for implementing crypto services at banks

BankInovation

SAN ANTONIO — With the use cases for cryptocurrency ranging from embedded payment and trading platforms to fiat-backed stablecoins that have real-world lending applications, banks are focusing on safely meeting a growing consumer appetite. But proving the use cases for crypto is just one step for bankers looking to deploy cryptocurrency services at their institutions. […].

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Cost versus availability of loans: which matters more for mortgagors?

BankUnderground

Alexandra Varadi. In early 2000s, mortgage debt increased rapidly relative to income. A key driver of this was an expansion in credit supply that made credit cheaper and more widely available. But, it is largely unknown if it is the cost of borrowing or the availability of loans that matters more for mortgagors. I examine this question in a recent paper.

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Biden pushes for coordinated approach to crypto oversight

BankInovation

President Joe Biden on Wednesday plans to order government agencies to take a closer look at issues surrounding the fast-growing crypto market, from developing a potential digital dollar to combating illicit finance. The White House executive order, which was outlined in a fact sheet, comes as the administration faces calls from the industry to take […].

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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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Visa races to rescue employees from Ukraine

Payments Dive

When Visa CEO Al Kelly got a message at church last Sunday that Ukrainian President Volodymyr Zelenskyy was trying to reach him, "that was the initial sign to me about the pressure we would feel," he said. Aside from implementing sanctions, the card giant has been in a race to move employees out of Ukraine.

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Finuevo Digital: Onboarding process launched

Bobsguide

PR_ProfileSoftware_FinuevoDigital_Onboarding_bobsguide. The post Finuevo Digital: Onboarding process launched appeared first on Bobsguide.

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Podcast: How Multigenerational Directors and Engaged Employees Drive Bank Independence

ABA Community Banking

For nearly 200 years, Millbury National Bank has stayed independent as a commercially focused community bank in Massachusetts. Part of that independent tradition owes to the bank's history of multigenerational stewardship. The post Podcast: How Multigenerational Directors and Engaged Employees Drive Bank Independence appeared first on ABA Banking Journal.

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Profile | eNewsletter Winter Edition available now!

Bobsguide

Profile_eNewsletterWinterEdition2022. The post Profile | eNewsletter Winter Edition available now! 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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MAS issues AML/CFT Notice for financial institutions

The Paypers

The Monetary Authority of Singapore (MAS) has issued a new notice and other various revised notices applicable to financial institutions and variable capital companies (VCCs).

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Tester: Libor Fix Legislation Is in Must-Pass Spending Bill

ABA Community Banking

A bipartisan, ABA-advocated bill to address “tough legacy” Libor contracts is included in the omnibus spending bill that Congress is expected to pass in the coming days, Sen. Jon Tester (D-Mont.) said at the ABA Washington Summit today. The post Tester: Libor Fix Legislation Is in Must-Pass Spending Bill appeared first on ABA Banking Journal.

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Survey: When Do Fraud Controls Ruin the Customer Experience?

FICO

The last few years have thrown up many challenges for banks and card providers as everything has shifted online, one of the primary challenges being fraud scams. But the online shift has also created opportunities for financial institutions to demonstrate their strong fraud controls in the digital space. The rapid rise of scams and other crimes, as well as the increasingly diverse methods used by fraudsters, has only increased the pressure for banks to protect customers from scammers and detect

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SteadyPay, which aims to reduce gig and freelance worker income volatility, raises $5M. SteadyPay competitors include Wollit, PayActiv, and Trezeo.

CB Insights

SteadyPay, a subscription-based credit service provider, has raised $5M in a Series A. The round drew participation from Ascension, Digital Horizon Ventures, and UK Future Fund. <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 c

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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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Enel, Santander sign global deal to support clients' clean energy transition

The Paypers

Enel and Santander have signed a memorandum of understanding (MoU) aimed at supplying and financing solar facilities, lithium batteries, and energy efficiency solutions for households, SMEs, and corporations.

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Payroll API company Atomic raises $40M from Greylock. Atomic competitors include Finch, Pinwheel, Check, Wage, and Argyle Systems.

CB Insights

Atomic, a payroll API provider, has raised $40M in a Series B funding round. The round drew participation from Mercato Partners, Core Innovation Capital, and Greylock Partners, among others. <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="

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SBA Administrator Guzman Says Country Needs to Return to Work

ABA Community Banking

Small Business Administration Administrator Isabella Casillas Guzman told bankers today at the American Bankers Association's Washington Summit that to help small businesses, the country needs to return to work. The post SBA Administrator Guzman Says Country Needs to Return to Work appeared first on ABA Banking Journal.

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Zwipe, Mediterranean Bank offer biometric payment cards in Libya

The Paypers

Zwipe and Mediterranean Bank have partnered to pilot the Biometric Payment Cards solution built on the Zwipe Pay platform, in Libya.

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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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Tech Market Map Report: Digitization & Task Automation in Payments

CB Insights

CB Insights identified 100+ payments companies addressing 7 technology priorities, from payment APIs & infrastructure to white-label digital wallets, that financial institutions, retailers, and businesses face. The purpose of the analysis is to provide technology buyers with an overview of the technology landscape and its market participants. FREE DOWNLOAD: STATE OF FINTECH 2021.

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Prometheus launches solution to personalise asset management

The Paypers

US-based fintech Prometheus Technologies has announced the launching of an asset management solution to redefine personalisation in the investing world.

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Biden administration will issue sweeping order on crypto

American Banker

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Ravelin report: 62% of merchants face new fraud challenges

The Paypers

Fraud prevention solution provider Ravelin has released its latest report, ' Online merchant perspectives, fraud & payments survey 2022 ', where it states the latest findings in the field of fraud.

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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.