Perficient

NOVEMBER 30, 2021

Recognizing that regulated and non-regulated financial institutions seek to engage in cryptocurrency and crypto asset activities, the three largest federal bank regulators, the Federal Reserve, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency, recently issued a joint statement on crypto assets. The regulators broadly defined crypto assets as any digital asset implemented using cryptographic techniques.

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Independent Banker

NOVEMBER 30, 2021

As more customers moved online, fraudsters took advantage of new and increasingly inventive opportunities to commit remote authentication fraud. Experts say community banks can use education, biometrics and solid cybersecurity practices to fight this growing area of crime. By Elizabeth Judd. Say a scammer calls a community bank customer and gains their trust by using information obtained from a major data breach.

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Fraud Strategy Community Bank New York City 160

Jeff For Banks

NOVEMBER 30, 2021

//Note: This is not a banking post.// "Ain't nobody livin' in a perfect world, And everybody's out there, cryin' to be heard And now I got a new fire, burnin' in my eyes Lightin' up the darkness, movin' like a meteorite." I'm All Fired Up! This past Sunday, CBS Sunday Morning ran an excellent segment on Pat Benatar and husband / lifelong bandmate Neil Girardo.

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Independent Banker

NOVEMBER 30, 2021

Photo by Robert Severi. While our decisions over the past year have been driven even more by our mission than by our bottom lines, we’ve also achieved good results. Winter is upon us. Dec. 21 marks the solstice, the official start of winter and the shortest, darkest day of the year. But as I see it, that milestone also signals a transition to light, as days grow longer from there.

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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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BankInovation

NOVEMBER 30, 2021

TD Bank, along with robotic process automation (RPA) company Automation Anywhere and cryptocurrency lending platform Celsius, announced promotions this month: TD Bank names Dinn CIO Judy Dinn was promoted Nov. 1 to chief information officer at TD Bank, where she is responsible for strategic technology planning and delivery for the $1.3 billion bank.

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cryptocurrency Lending Technology Company 98

BankInovation

NOVEMBER 30, 2021

Accelerated customer adoption of digital channels and internal processes automation at Scotiabank this year led to an increase in efficiencies, as well as branch closures and staff reductions. The $917.5 billion bank reported a $98 million restructuring charge related to closing 10% of its branches and a reduction in full-time employees, mainly in the middle […].

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Maine Report Digital Banking Mobile 98

Independent Banker

NOVEMBER 30, 2021

Community bankers’ awakening to new possibilities has made for an impactful year and will help position community banks to flourish in 2022 and beyond. By Charles Potts, ICBA. Building on the digital solutions put in place for Paycheck Protection Program (PPP) loans in 2020, community bankers have expanded their digital services and channels to meet their customers’ evolving needs and serve their communities.

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Community Bank Community Innovation Video 134

BankInovation

NOVEMBER 30, 2021

Nasdaq Inc. partnered with Amazon.com Inc. to shift its North American markets to the cloud starting in 2022. The move is the latest among exchanges that have started to expand into cloud-based software and data analytics. Earlier this month Alphabet Inc.’s Google struck a deal with CME Group Inc. to help the derivatives exchange operator […].

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Independent Banker

NOVEMBER 30, 2021

Here’s another conversation with our consummate community banker. By Jim Reber, ICBA Securities. “This is Jim Reber.”. “Hi Jim, this is Charlie Brown with Community Trust Bank. Do you have a minute?”. “I sure do, Charlie. I don’t think I’ve heard from you since the summer of 2020. How are things at the community bank?”. “I think things are going pretty well.

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Community Community Bank Taxes Security 126

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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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ATM Marketplace

NOVEMBER 30, 2021

In order to determine if your bank needs an ITM, you should ask yourself several questions.

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Independent Banker

NOVEMBER 30, 2021

La Plata County commissioner Marsha Porter-Norton champions First Southwest Bank’s innovative lending. It’s one reason why she’s a customer of the bank. Photo courtesy First United Bank & Trust Company. First Southwest Bank is carving out new business models to address a need for credit and financial services through nonprofit lending programs and software that leverages its community development financial institution (CDFI) funding.

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Colorado Community Bank Community New Mexico 119

BankUnderground

NOVEMBER 30, 2021

Mahmoud Fatouh. Quantitative easing (QE) involves creating new central bank reserves to fund asset purchases. Deposited in the reserves account of the seller’s bank, these reserves can have implications for banks’ asset mixes. In our paper , we use balance sheet data for 118 UK banks to empirically investigate whether the asset compositions of banks involved in the UK QE operations reacted differently in comparison to banks not involved in the initial rounds of QE between March 2009 and July 201

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Independent Banker

NOVEMBER 30, 2021

Photo by Jorg Greuel/Getty Images. Community banks use dozens or even hundreds of vendors—making it critical that they have an efficient way to stay compliant, track performance and more. Some banks are using a combination of software and internal personnel and systems to do just that. By Cheryl Winokur Munk. There’s a host of regulatory guidance when it comes to vendor management, but community banks also have wiggle room to craft their own policies.

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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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CB Insights

NOVEMBER 30, 2021

The Middle East has seen significant growth as a fintech hub over the last few years. So far in 2021, funding has reached $1.3B across 142 deals — already comfortably surpassing 2020’s year-end totals. FREE DOWNLOAD: STATE OF FINTECH q3’21. 43 fintech unicorns were born in Q3’21, bringing the total to 206 — twice the Q3’20 count.

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Company Fintech Report Marketing 81

Independent Banker

NOVEMBER 30, 2021

By Christopher Weyant. “Just when I think we’ve finished our succession planning…”.

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Leadership 91

TheGuardian

NOVEMBER 30, 2021

Bank is latest to announce slashing of branch network in response to increase in digital banking use TSB Bank is closing a further 70 branches – a quarter of its network – in a move described by campaigners as “yet another hammer blow” to the UK high street. Fourteen months ago TSB had 475 branches, but these latest cuts – following a wave of previous closures in 2020 and this year – mean that by the end of June 2022 this number will have more than halved to 220.

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Digital Banking 67

CB Insights

NOVEMBER 30, 2021

Kore.ai , a conversational AI and chatbot company, has raised $3.5M in an extended Series C round that drew participation from Nvidia. How’s the company performing? Florida-based Kore.ai’s conversational AI platform optimizes customer, agent, and search experiences. The company has automated 1B interactions for top banks, healthcare services, and over 100 Fortune 500 companies since its inception.

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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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PopularBank

NOVEMBER 30, 2021

As a business owner it’s important to stay up to date about cybersecurity threats since things change daily. Scams have become so sophisticated that everyone – and anyone – can be an unsuspecting target. Today, some of the biggest cybersecurity threats to look out for include: 1. Phishing/social engineering attacks. Small Business Trends reports that “1 in every 99 emails is a phishing attack.

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ABA Community Banking

NOVEMBER 30, 2021

FDIC-insured banks and savings institutions earned $69.5 billion in the third quarter of 2021, a 35.9% increase from a year before, the FDIC reported today in its Quarterly Banking Profile. The post FDIC: Bank Profits Up in Third Quarter as Capital, Liquidity Levels Remain Strong appeared first on ABA Banking Journal.

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FDIC Capital Report Community Bank 59

The Paypers

NOVEMBER 30, 2021

UK-based regtech company CUBE has announced a partnership with US-based MetricStream to enable customers to utilise CUBE’s automated regulatory intelligence.

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Qudos Bank

NOVEMBER 30, 2021

Christmas is the highlight of the year for many of us and it’s easy to see why. It’s a rare chance for us to catch up with family and friends, pop on our party hats, give and receive gifts and share delicious food and drink. With all the excitement of the occasion, it’s easy to get carried away and spend a little more than you should on gift shopping and fancy food for the spread.

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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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The Paypers

NOVEMBER 30, 2021

Worldline has become a member of the FIDO Alliance , a worldwide organisation that aims to standardise and bring interoperability in the authentication world.

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CB Insights

NOVEMBER 30, 2021

Fonoa , a provider of automated tax compliance tools, has raised $25M in a Series A round. The round drew participation from Index Ventures, FJ Labs, OMERS Ventures, and Moving Capital, among others. HOW’S THE COMPANY PERFORMING? Ireland-based Fonoa has developed APIs that help internet companies automate all stages of the tax compliance process, such as verifying the tax status of buyers and sellers, computing tax dues, and generating a locally tax-compliant invoice for the transaction.

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Taxes Compliance Tools Company 36

The Paypers

NOVEMBER 30, 2021

Central Bank of Indonesia and that of the United Arab Emirates have signed a memorandum to improve payment system cooperation.

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American Banker

NOVEMBER 30, 2021

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Management 90

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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.

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