Wed.Mar 31, 2021

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Digital financial services require accessibility, convenience and transparency

Bobsguide

Accessibility, convenience and transparency are key in the push for consumer adoption of digital payments and financial services, with both bank and non-bank financial institutions expanding their offerings, a panel of experts said at the BIS Innovation Summit on Tuesday. “First is.

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Podcast: Crafting a New Bank Amid COVID-19

ABA Community Banking

When the coronavirus pandemic began, Craft Bank was just about to begin its capital raise as a de novo community bank in Atlanta. With its roadshow about to begin, CEO Ross Mynatt and his small team threw out the playbook and began pivoting. The post Podcast: Crafting a New Bank Amid COVID-19 appeared first on ABA Banking Journal.

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Bots can make mortgages more efficient but complex tasks need a hybrid model

BankInovation

The mortgage application process is a bit like assembling a pie: Both require several ingredients and steps, and take longer to prepare than anyone cares to think about. Mortgages come with reams of paperwork, and strict industry standards determine how chunks of information are to be treated. Sleep on the rules for either, and that […].

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How David Cameron got caught up in a classic lobbying scandal

TheGuardian

The Greensill Capital affair is the exact type of lobbying row that the ex-PM warned about and vowed to eradicate In the wake of the 2009 expenses scandal – in which MPs were found to have submitted claims for among other things a £1,600 floating duck house and a £2,200 bill for cleaning a moat – the then-Conservative leader David Cameron warned that political lobbying would be “the next big scandal waiting to happen”.

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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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KeyBank’s Justin Hunsaker speaks on automating the customer experience at Bank Automation Ignite

BankInovation

Justin Hunsaker, head of omnichannel experience at KeyBank, will speak on automating the customer experience during the Bank Automation Ignite virtual conference, which takes place April 13-14. Hunsaker’s on-demand presentation will be broadcast on April 13 at 3:15 p.m. ET. View the BA Ignite agenda. Hunsaker’s presentation will focus on “CX Automation and the Pursuit […].

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CFPB Announces Availability of 2020 HMDA Data

CFPB Monitor

The CFPB recently announced the public availability of calendar year 2020 residential mortgage loan application data reported under the Home Mortgage Disclosure Act (HMDA). The data can be accessed here. For each reporting institution, a modified version of the HMDA data reported by the institution is made publicly available. For privacy reasons, certain reported data is removed or modified before it is made public.

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Banks and brokers encourage second EU research unbundling

Bobsguide

Despite asset managers looking to negotiate prices down for specific areas of research after the second Markets in financial infrastructure directive (Mifid II) was implemented, some providers have been prepared to work at a loss for the ability to grow relationships, according to Mike Carrodus, CEO.

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FFIEC Issues 2021 HMDA Guide

CFPB Monitor

The Federal Financial Institutions Examination Council (FFIEC) recently issued the 2021 edition of A Guide to HMDA Reporting (Guide). The Guide addresses the collection and reporting of residential mortgage loan application data under the Home Mortgage Disclosure Act (HMDA) for calendar year 2021. The Guide reflects the changes to the HMDA reporting thresholds that the CFPB adopted in April of 2020.

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How e-commerce is disrupting Japan's love of cash

Payments Source

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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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99% of FDIC Supervised Banks Rated Satisfactory or Better for Consumer Compliance

ABA Community Banking

The FDIC said today that 99% of the banks it supervises were rated satisfactory or better for consumer compliance and Community Reinvestment Act compliance, as of the end of 2020. The post 99% of FDIC Supervised Banks Rated Satisfactory or Better for Consumer Compliance appeared first on ABA Banking Journal.

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Peoples Set to Acquire Premier Financial Bancorp for $292M

Banking Exchange

Plus: Investar Holding Corporation approved for purchase of Alabama community bank Management Feature M&A Feature3 Community Banking.

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Brexit gives U.K. payment firms two sets of rules

Payments Source

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PPP Extended by Two Months After Senate Agrees New Deadline

Banking Exchange

The lending program was due to expire on March 31 Community Banking Feature3 Feature Financial Trends The Economy PPP Covid19.

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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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Banks should join fintechs instead of fighting them

Payments Source

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Movers and shakers: New heads of digital at Citi, Wells Fargo

BankInovation

Banks continue to invest in digital transformation: Grewal is Wells Fargo’s new head of digital Reetika Grewal will join Wells Fargo & Co. in April as the new head digital for commercial banking and corporate and investment banking. Grewal will be responsible for accelerating development and implementation of commercial and corporate banking digital offerings and […].

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Boeing Creates Complex COVID-19 Nurse Schedule in a Week

FICO

A Race Against Time To Save Lives. Boeing’s market leading Jeppesen digital aviation software solved a crucial nurse scheduling problem for the intensive care unit (ICU) for Karolinska University Hospital in Stockholm, Sweden’s second largest hospital, at the start of the COVID-19 pandemic. Using Jeppesen Crew Rostering, which employs FICO® Xpress Optimization , Boeing created rosters for over 300 nurses and healthcare workers during the peak period, resulting in more workable shifts for staff a

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First mover advantage: How Customers Bank partnered with a fintech to gain a competitive edge over larger lenders

BankInovation

Most banks operate in the stone age, hindered by legacy technology and processes. At Customers Bank, we have been able to compete with some of the largest and most established lenders, growing assets from?$250 million to $18 billion over the last decade, by taking a “high tech, high touch” approach. Partnerships with leading fintechs and confidence to be a first mover have been keys to this growth.

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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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How Much Car Insurance Do You Need?

MyBankTracker

This is a serious question, in no small part because there are several factors that determine how much car insurance you need. While drivers often choose a coverage amount (and policy options) based on premium cost, that should never be the primary factor. Premium cost always matters, but it’s also important to have an adequate level of coverage.

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JCB sees a 300% e-commerce surge that began before COVID-19

Payments Source

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Can You Have Multiple Brokerage Accounts? When It Makes Sense

MyBankTracker

Yes, you can have multiple brokerage accounts, just like you can have multiple bank accounts. There are a few reasons that you might want to open multiple accounts, but there are also a few drawbacks to keep in mind. Reasons You Might Want Multiple Brokerage Accounts. These are some of the reasons you might want to have more than one brokerage account.

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Credit Suisse aims at wind-up orders for Gupta's Liberty arm

TheGuardian

Bank acts to recoup funds through courts against metals trading firm as Gupta tries for “standstill” deal with Greensill administrators Credit Suisse has begun court action to push a $4bn trading business belonging to the metals magnate Sanjeev Gupta into insolvency, as it tries to recoup losses. Gupta is the founder of Liberty Steel and its holding company, GFG Alliance.

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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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Peru plans instant payments network that links fintechs, mobile bank accounts

Payments Source

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Payoneer filed its full year audited 2020 financial results

The Paypers

Payoneer , a global payment and commerce-enabling platform, has filed its full year audited 2020 financial results with the SEC in Amendment No. 1 to the Registration Statement.

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How Brian McLaughlin keeps Redtail’s spirit alive while working from home

Payments Source

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Bofin selects ComplyAdvantage for fraud detection and AML

The Paypers

UK-based technology marketplace for financial services firms Bofin has partnered ComplyAdvantage to lower its risk of financial crimes and money laundering.

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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.