Mon.Jun 28, 2021

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How banks can build resilience against ransomware attacks now

Accenture

I’ve asked Michael Monday to co-author this blog post on ransomware. He specializes in cybersecurity in financial services as Accenture Security’s North America Banking Lead. Having begun his career in the US Air Force, Michael knows all about precision, rigor and why offense is often the best defense against bad actors. The threat of cybersecurity….

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Market Commentary: Week of June 28, 2021

SWBC's LenderHub

Last Week: Equities put in a very strong performance last week as the “value stock-reflation trade” was back on. Despite Federal Reserve Bank presidents such as Dallas Fed President Kaplan taking to the airwaves advocating an earlier start to QE tapering, stocks shrugged this off and set new, all-time highs. Treasury yields had a slight bit of indigestion, while MBS spreads showed no immediate fear of the taper by tightening all week.

Marketing 133
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AI Chatbots Face Resistance from Gen X, Baby Boomers

Banking Exchange

Older savers are more likely to shun interaction with AI chatbots compared to younger counterparts Technology Retail Banking Feature3 Feature Financial Trends People Fintech.

Trends 97
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Credit Union Industry Stats and Performance Trends: Q1 2021

SWBC's LenderHub

I look forward to CU Data’s statistics and trends report each quarter. It gives our team insights into what the industry is experiencing and how that will impact our clients and their members. In this blog post, I’d like to share some highlights and notable KPIs from the Q1 2021 report.

Trends 78
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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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Rethinking the Trading Desk to Reduce Risk, Increase Efficiencies and Attract Top Talent

Banking Exchange

A new trading desk platform is emerging that will benefit both the financial services industry and its workforce Risk Management Technology Feature3 Human Resources Feature Financial Trends Management.

More Trending

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Zest AI raises $18 million in funding

BankInovation

Underwriting software provider Zest AI has raised $18 million in a funding round led by VyStar Credit Union and the First National Bank of Omaha, the firm announced last week. Zest builds underwriting models powered by artificial intelligence (AI) and counts organizations like the Federal Home Loan Mortgage Corporation (Freddie Mac) and credit card provider […].

Omaha 84
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Banks Lend Nearly $100B to Support US Agriculture

Banking Exchange

Banking support for the farming sector stays strong despite Covid-19 challenges, new report finds Community Banking Feature3 Feature Covid19.

Lending 78
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Nationwide has signed away my right to use a contactless card

TheGuardian

I’ve had a two-year battle to get it to sort a problem with the ‘chip and signature’ system for disabled users I have had a two-year battle to get Nationwide to treat disabled credit card users like the rest of its customers. Like many others, I have a contactless chip and signature card that requires me to sign (rather than input a pin) for high-value items, and for when the system needs to verify it is me paying.

Cards 60
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DTCC rolls out automated platform for creation, delivery of certificates of deposit

BankInovation

The Depository Trust & Clearing Corporation (DTCC) today announced its roll out of an automated platform for creating, signing and delivering certificates of deposit (CD) in a move to digitize all physical securities. DTCC provides clearing and settlement services to the financial markets. CDs are money-market instruments offered by banks and credit unions that offer […].

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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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Greensill: watchdog opens investigation into auditors including PwC

TheGuardian

Inquiry involves Saffery Champness and PwC’s audit of the Sanjeev Gupta-owned Wyelands Bank Britain’s accounting watchdog has opened investigations into PwC and a smaller rival over audits conducted for Greensill Capital UK and the bank owned by one of its largest borrowers, the metals magnate Sanjeev Gupta. The Financial Reporting Council’s (FRC) investigations – launched on 15 June but only made public on Monday – add to a growing list of investigations linked to Greensill and its customers, a

Capital 55
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How the Double Zero Scam Works - A Con Exposed

FICO

Imagine this: You could be at your bank, waiting in line on a regular day, and see a con unfold before your very eyes. Here’s what it might look like: An elderly gentleman almost pleading with the branch manager on the other side of a Plexiglas divide, asking her to send a wire for $12,000. Every few seconds the gentleman says a few words into his mobile phone, on speaker.

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Neighborhood Credit Union (TX) Rewards Checking Available Statewide

BankDeals

Neighborhood Credit Union (Texas) offers its competitive Kasasa Cash checking account and Kasasa Cash Back account on a statewide basis.

Texas 59
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HSBC to enter Dubai Economy's UAE KYC Blockchain Platform

The Paypers

Dubai Economy , the Dubai-based Department of Economic Development (DED), has announced that HSBC will go live on its UAE KYC Blockchain platform, according to altcoinbeacon.com.

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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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Ron Sikder loses National Bank directorship over loan defaults

FluentBanking

Ron Haque Sikder, who was a director at the National Bank, lost his directorship post due to his loan defaulter status. The development came as the Bangladesh Bank on Sunday refused to extend his directorship due to not having a CIB (Credit Information Bureau) clearance. Two directors of National Bank applied to Bangladesh Bank for extension of directorship.

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Virtual card transaction values to increase by 370 percent in five years, Juniper Research reveals

The Paypers

A new study by Juniper Research has found that the global value of virtual card transactions will reach USD 6.8 trillion in 2026, from USD 1.9 trillion in 2021.

Cards 53
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Small bank takes stake in robo advisor to reach the mass affluent

American Banker

Florida 95
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Mox, Mastercard partner to allow users to choose between spending on a debit or credit card

The Paypers

Hong Kong-based virtual bank Mox has partnered with Mastercard to introduce a new tool that allows Mox users to choose between spending on an all-in-one debit and credit card.

Cards 45
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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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This Y Combinator-Backed Real Estate Startup Raised $90M To Scale Its Real Estate Mortgage Lending Platform

CB Insights

Accept.inc , a residential real estate mortgage lending platform, has raised $90M in seed funding. Of the $90M, $78M was debt from undisclosed investors and $12M was seed funding from Y Combinator, SignalFire, and DN Capital. How’s the company performing? Colorado-based Accept.inc allows homebuyers to make all-cash offers through its mortgage lending platform at no additional cost.

Lending 36
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Santander launches partial payment service for online shops

The Paypers

The Austrian Santander Consumer Bank has partnered with the Germany-based ecommerce technology company payever to develop a partial payment solution for online shops.

Online 45
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Wellspring Credit Union (TX) Offers Competitive Rewards Checking/Saver

BankDeals

Wellspring Credit Union (Gulf Coast Texas) offers competitive rates on its Kasasa Cash Checking, Kasasa Cash Back, and Kasasa Saver accounts.

Texas 40
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Chargebee, Worldline offer subscription and payment management to European merchants

The Paypers

France-based payments and transactional services provider Worldline and subscription billion service Chargebee have teamed to provide a payment, subscription and revenue operations solution for merchants.

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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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Big banks raise dividends after Fed affirms their strength

American Banker

Capital 78
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Green Digital Finance Alliance (GDFA) launches Every Action Counts coalition

The Paypers

The ‘Every Action Counts’ (EAC) coalition has been launched by the Green Digital Finance Alliance (GDFA), funded by the Finance for Biodiversity (F4B) initiative of the MAVA Foundation.

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CFPB lets foreclosures resume — but with caveats

American Banker

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Survitec receives GBP 15 mln bank guarantee facility from Barclays

The Paypers

Global survival and safety solutions provider Survitec has completed a GBP 15 million Bank Guarantee Facility with Barclays Corporate Banking , according to the official press release.

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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.