Thu.Dec 23, 2021

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CFPB/ FTC/DOJ/Federal Reserve Board file joint amicus brief arguing consumers not applying for credit are “applicants” under ECOA

CFPB Monitor

The CFPB, FTC, DOJ, and Federal Reserve Board have filed a joint amicus brief in the U.S. Court of Appeals for the Seventh Circuit urging the court to reverse a district court ruling that an individual who had already received credit from the defendant and who was not currently applying to the defendant for credit was not an “applicant” for purposes of the ECOA’s adverse action notice requirement.

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How to automate for good

BankInovation

Robotic process automation (RPA) company UiPath and research firm IDC this month launched a free interactive assessment tool that offers organizations a tailored response on how to automate for good. But what, exactly, does it mean to “automate for good?” UiPath and IDC looked to the United Nations for its definition, said Margareta Mucibabici, public […].

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Security in Layers

Jack Henry

Layers of Protection Exist Everywhere. We don't realize how often we apply layers of protection in our daily lives. Some protections come naturally, like our skin and hair to protect our bodies from the environment. Some protections are taught to us. When we play sports, we wear layers of protection to reduce the risk of injury: helmets, gloves, chest pads, knee pads, mouth guards.

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Movers and Shakers: Citizens names new CEO

BankInovation

This month saw Citizens promote its long-time interim chief executive officer to the position permanently, while Bank of America Chicago named a new president. Bank Automation News takes a look at December’s movers and shakers. Gerald Shields named CEO of Citizens Citizens named Gerald Shields as its new chief executive officer, effective Jan. 1. He […].

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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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No provisions on arbitration or interest rate cap in final version of NDAA

CFPB Monitor

The final version of the National Defense Authorization Act for Fiscal Year 2022 (NDAA) ( S. 1605 ) currently awaiting President Biden’s signature does not contain several proposed provisions that members of the consumer financial services industry had opposed. Specifically, the NDAA does not contain provisions that would have: Expanded coverage of the Military Lending Act’s 36% “all-in” rate cap to all consumers.

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How to Increase Bank Profits in Challenging Times

The Emmerich Group

How do you increase your bank’s profits, and replace PPP revenue, when your desperate competitors are doing crazy things, and it has never looked harder to create profit within your bank? Well … Here’s the reality There are circumstances outside of your control that you can’t do anything about. But there are things within your. Continue Reading.

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Mastercard, Schoolvoice partner to education sector payments across MENA

The Paypers

Mastercard has partnered with Schoolvoice , a school-parents communication platform based in the UAE, to digitise the education experience for schools in the Middle East and North Africa (MENA) region.

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Log4j security vulnerability is a double threat to banks

American Banker

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Aware acquires Fortress Identity and expands eKYC capabilities

The Paypers

Risk management company Aware has announced it acquired Fortress Identity to expand its offering around identity proofing, onboarding, verification, and authentication.

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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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Better late than never: Flurry of Fed approvals bodes well for bank M&A

American Banker

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Mantra Softech devices will integrate Fingerprint Cards' iris biometrics

The Paypers

Fingerprint Cards (FPC) has signed a multi-year deal with Mantra Softech , in which the former with supply iris biometric technology to power Mantra’s iris recognition software.

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Remote electronic notarizations now legal in New York

American Banker

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The Paypers is celebrating the Holiday Season until 3 January!

The Paypers

We will take a short break on the 24th of December and return on the 3rd of January 2022.

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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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Bitcoin-owning senator to propose crypto overhaul bill next year

American Banker

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EIF, CaixaBank, and MicroBank to support Spanish SMEs with EUR 500 mln under the EGF

The Paypers

The European Investment Fund has joined forces with CaixaBank and MicroBank to support Spanish small and medium-sized companies hit by the economic crisis generated by COVID-19.

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TAPCO Credit Union appoints new CEO

American Banker

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Instabox to expand in Germany

The Paypers

Swedish-based Instabox has announced plans to enter Germany with its parcel delivery services in early 2022.

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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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National Association of State Credit Union Supervisors names CEO

American Banker

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Laurentian Bank partners with Brim Financial

The Paypers

Canada-based Brim Financial has partnered with Laurentia Bank ’s to fuel its digital transformation and augment its end-to-end customer journey for Visa products.

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Citigroup to sell Philippines consumer assets to Union Bank

American Banker

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SETL to take part in asset tokenisation pilot with SWIFT

The Paypers

SETL has announced that it will be working with SWIFT on an innovation pilot, as the cooperative explores how it can support interoperability in the development of the tokenised asset market.

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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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Capital One settles class-action cyber lawsuit for $190 million

American Banker

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Deutsche Bank: stronger growth, tougher politics in Chile, Colombia, Peru in 2022

The Paypers

Deutsche Bank has said that it expects Chile, Colombia, and Peru to outperform the rest of the Latin American region in terms of growth in 2022, according to tradingview.com.

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New RBI rules for online payments from 1 January, 2022

The Paypers

The RBI has ordered all companies in India to purge saved credit and debit card data from their systems from January 1, 2022.

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Visa launches 'Meet Visa' campaign in Hong Kong

The Paypers

Visa (V) has unveiled its new campaign ‘Meet Visa’ in Hong Kong that underlines the capabilities of its network, as per nasdaq.

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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.