Mon.Aug 08, 2022

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Non-Fungible Tokens (NFTs): You Never Forget Your First Time

Perficient

Would you trust an electrician who lived in the dark? A plumber who didn’t have indoor running water? A digital asset subject matter expert and program manager who didn’t own a non-fungible token? Toward solving that last one, I thought it would be helpful for our readers to see step-by-step, my screen as I acquired my first NFT. Hopefully, readers will see what an actual NFT is, and after seeing how easy it is to acquire one, be inspired to obtain their own NFT.

New York 275
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Let the credit card battle begin

Payments Dive

Banks that issue credit cards and the retailers who hate their fees are lining up allies on Capitol Hill to fight over a new bill that calls for more competition in the industry. Visa and Mastercard are at the center of the conflict.

Cards 259
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5 Actionable Insights From 2Q 2022 Bank Earnings

South State Correspondent

With 100+ public banks reporting, we have more than a representative sample to see 2Q 2022 bank earnings trends and derive some operational insights on bank performance. We touched on the 33 Items That Stakeholders Want to Know , which highlights some of the industry’s concerns and serves as a good checklist of items to touch on for employee, shareholder, and analyst briefings.

Trends 195
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Consumer spending rises despite inflation: Mastercard

Payments Dive

While card issuers are bracing for economic headwinds, consumer spending has continued to rise recently, including for apparel, jewelry and travel.

Cards 243
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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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Use These Tactics When We Have A Full Inverted Yield Curve

South State Correspondent

A yield curve is a relationship between yield and different maturity dates. The yield curve’s slope can provide insight into future interest rate changes and economic activity. There is much discussion in the market about the current inverted yield curve between the two and ten-year Treasury yields. However, for bankers, the critical dates on the yield curve are short-term rates (Fed Funds) and the ten-year rate.

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Treasuries Shrug Off Strong July Jobs Report

South State Correspondent

Treasuries Shrug Off Strong July Jobs Report. Treasury prices are higher this morning as the downdraft created by the stronger-than-expected July employment report was short-lived. We remain hard-pressed to see a catalyst to materially higher rates in the near-term as the market interprets the hot jobs market as a reason for the Fed to remain aggressively hawkish which implies rate hikes until the economy falters.

Report 195
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US Treasury, banks drill down on AML

BankInovation

Banks are leveraging automation in transactions to weed out suspicious activity from fraudsters, and the U.S. government is taking action to ensure financial institutions can continue testing new anti-money laundering (AML) tactics without running afoul of regulators. The U.S. Department of the Treasury issued the 2022 National Strategy for Combatting Terrorist and Other Illicit Financing […].

US 98
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Where Are We Now? 2022 Data Science and AI Predictions Revisited

FICO

Home. Blog. FICO. Where Are We Now? 2022 Data Science and AI Predictions Revisited. Within my AI predictions for the year, interpretable machine learning (ML) models have surprised me by garnering greater awareness from data science leaders. Saxon Shirley. Thu, 05/12/2022 - 07:46. by Scott Zoldi. expand_less Back To Top. Mon, 08/08/2022 - 15:30. One of my favorite things to think about is my annual data science and artificial intelligence (AI) predictions blog.

Data 96
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Ballard Spahr launches Ballard360 LicenSync tracker

CFPB Monitor

To help financial services companies manage the federal approvals, state licenses, and foreign “doing business” registrations they are required to maintain—and avoid penalties for non-compliance—Ballard Spahr has launched Ballard360 LicenSync. LicenSync was created by the firm’s Client Value and Innovation Team working in partnership with the firm’s Consumer Financial Services Group.

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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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SoftBank plans Vision Funds cost cuts after record £19bn loss

TheGuardian

Japanese technology and investment group is seeking to float UK-based chip maker Arm Softbank has reported a record quarterly loss of 3.1tn yen (£19bn)after the global sell-off of tech stocks, prompting the embattled Japanese conglomerate to embark on a big cost-cutting drive. Masayoshi Son, the chief executive of Softbank, said the company was to launch a “dramatic” group-wide cost-cutting drive after a 7tn yen gain in investments made by its Vision Funds were almost completely wiped out over t

Groups 78
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Trade groups petition CFPB to adopt larger participant rule for data aggregators

CFPB Monitor

Eight national trade groups have filed a petition with the CFPB that urges the Bureau to engage in rulemaking to define larger participants in the market for data aggregation services. The trade groups are the American Bankers Association, Consumer Bankers Association, Credit Union National Association, Housing Policy Counsel, Independent Community Bankers of America, National Association of Federally Insured Credit Unions, National Bankers Association, and Clearing House Association.

Groups 78
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Five Turkish banks to adopt Russia's Mir payments system

The Paypers

Five Turkish banks have adopted Russia’s Mir payments system, Turkey’s President Recep Tayyip Erdogan said after talks with President Vladimir Putin.

System 78
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Listen: How automation, AI are changing the compliance officer role

BankInovation

The role of the chief compliance officer (CCO) at financial institutions has evolved as technology, automation and access to data present new opportunities and challenges for executives. "Today’s compliance officer faces that very burdensome trade-off of creating a really good frictionless experience for their end users. but also building compliance confidence within their organization,” […].

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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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WhatsApp to launch new login approval feature to prevent hacking

The Paypers

Meta-owned popular instant messaging platform, WhatsApp , is currently working on a new security feature, login approval, to prevent against identity fraud and enhance security and user experience.

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Built acquires Nativ after weighing buy v. build

BankInovation

Cloud-based loan software provider Built Technologies announced it has acquired deal management platform Nativ to provide lenders with a risk management solution that shifts away from analog processes. Terms of the deal were not disclosed. “The Nativ product, which is classified as a deal management product in commercial real estate, assists with underwriting the future […].

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ING to trial Cogo's carbon footprint tracking app

The Paypers

ING has announced it will trial a carbon footprint tracking app offered by fintech firm Cogo , with 350,000 mobile clients.

Fintech 74
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2023 FICO Decisions Awards Now Open

FICO

Home. Blog. FICO. 2023 FICO Decisions Awards Now Open. Call for analytics and digital transformation champions! Saxon Shirley. Thu, 08/04/2022 - 10:01. by Nikhil Behl. expand_less Back To Top. Mon, 08/08/2022 - 15:10. I am excited to announce that our 2023 FICO Decisions Awards are now open! We are calling on our customers who are achieving outstanding success using analytics and decision management solutions from FICO to submit nominations for the awards. .

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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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Nepal Rastra Bank prepares to launch its own digital currency

The Paypers

The Nepal Rastra Bank has taken steps towards issuing its own digital currency following a study that has revealed the project’s feasibility.

Study 41
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Why the fintech lender Avant is partnering with Major League Soccer

American Banker

Fintech 88
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Aleta Planet partners DiMuto to tackle supply chain problems

The Paypers

Agrifood solutions platform Dimuto and fintech focused on cross-border payments, Aleta Planet , have partnered to address supply chain inefficiencies that lead to global food waste.

Fintech 36
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MetaBank's Nancy Schempp champions the underbanked in a tough economy

American Banker

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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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Goldman Sachs' credit card unit investigated by US watchdog

The Paypers

US-based Goldman Sachs has announced its credit card unit is under investigation by the Consumer Financial Protection Bureau , a federal agency tasked with protecting US citizens from financial abuse.

US 36
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Banks hint at legal challenges to CRA rewrite

American Banker

FDIC 81
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Yapily rolls out Virtual Accounts

The Paypers

Open Banking platform Yapily has rolled out Yapily Virtual Accounts to bring more transparency to real-time payments, according to the official press release.

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How Washington can protect U.S. dollar hegemony with stablecoins

American Banker

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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.