Thu.Apr 13, 2023

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Cash Or Credit Card For Your Travels Abroad?

BankBazaar

B ig wad of cash or a sl eek Credit Card ? Let’s help you figure out the pros and cons of both when travelling abroad , along with a few pro tips on using Credit Card s overseas. Business or leisure? You do not have to state the purpose of your visit to us, but we know for sure that you are going to spend when in a foreign country. Handling finances could be as daunting as figuring out the many nuances of a new country.

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SF tech worker charged in murder of Cash App founder

Payments Dive

San Francisco police arrested an IT worker in the murder of Bob Lee, who was knifed to death in the early morning hours of April 4. Police declined to discuss a motive at a Thursday press conference.

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5 ways to reignite customer relationships for growth

Accenture

Banking has been blasted by the winds of change in 2023. If you think we’re not in Kansas anymore, you’re not alone. The industry right now has a surprising amount in common with some of the most iconic characters from The Wonderful Wizard of Oz, the famous L. Frank Baum story published in 1900 and… The post 5 ways to reignite customer relationships for growth appeared first on Accenture Banking Blog.

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Why card networks should embrace gun codes

Payments Dive

Using the new merchant category code for gun and ammunition sales “could help identify dangerous patterns,” one advocacy group lawyer argues.

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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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Podcast: The just-do-it mindset in community bank innovation

ABA Community Banking

How can community bank emerging leaders take initiative in innovation? Tim Shangle advises bankers to take small steps and explore what new technologies can do. The post Podcast: The just-do-it mindset in community bank innovation appeared first on ABA Banking Journal.

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Doing More With The Bare Necessities Of Life!

BankBazaar

Did we successfully put the ‘Baloo song’ in to your head? Good …n ow you’ll be singing it all day long. So n ow that that’s done, we have an interesting r ead ahead. It’s going to make you catch those lessons you probably missed growing up. Presenting , ‘ T he Jungle Book – The F inance S equel! ’ We all know who Mowgli is, don’t we? The Jungle Book hits home for children and adults everywhere, giving us that familiar feeling that is so easy to go back to!

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Square rolls out new features

Payments Dive

Facing stiff competition, Block’s merchant services unit Square is adding tools for its merchant clients.

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This week’s podcast episode: Performance-based regulation: a new approach to consumer financial regulation, with special guest Lauren Willis, Professor of Law and Associate Dean for Research, LMU Loyola Law School

CFPB Monitor

Professor Willis advocates the adoption of a performance-based approach to regulation to replace or supplement the current approach of disclosure and design regulation. We first discuss how benchmarks would be used in a performance-based approach and discuss the shortcomings of the current disclosure and design approach as well as behavioral economics in designing regulations. .

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3 Ways to Hedge Your Auto Portfolio Against Losses

SWBC's LenderHub

Financial institutions and their borrowers are up against challenging times. Many households are facing financial difficulties in the face of high inflation, while financial institutions are struggling to maintain profitability due to economic uncertainty and rising interest rates. As a result, many are focusing their 2023 efforts on reducing costs to maintain returns and supporting their borrowers during these difficult times.

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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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What if it’s a perfect storm? Stronger evidence that insurers should account for co-occurring weather hazards

BankUnderground

John Hillier, Tom Perkins, Ryan Li, Hannah Bloomfield, Josie Lau, Stefan Claus, Paul Harrington, Shane Latchman and David Humphry In 2022 a sequence of storms (Dudley, Eunice and Franklin) inflicted a variety of hazards on the UK and across Northwest Europe, resulting in £2.5–4.2 billion in insured losses. They dramatically illustrate the potential risk of a ‘perfect storm’ involving correlated hazards that co-occur and combine to exacerbate the total impact.

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Former TSB chief information officer fined £81,000 over IT meltdown in 2018

TheGuardian

Regulator says Carlos Abarca ‘failed to take reasonable steps’ to ensure outsourcing firm was ready to migrate accounts en masse UK regulators have imposed an £81,000 fine on a former TSB information officer over the bank’s IT meltdown in 2018 that left millions of customers locked out of their accounts. The Prudential Regulation Authority (PRA) said Carlos Abarca, who was TSB’s chief information officer at the time of the meltdown, “failed to take reasonable steps” to ensure that an outsourcing

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Skate where the puck is going

Realwired Appraisal Management Blog

Wayne Gretzky’s overused sports metaphor, “I skate to where the puck is going to be, not where it has been” still has relevant legs. It speaks to innovation, looking to the future. Innovation is largely absent in our highly fractionalized valuation industry. Using only Windows 11, O365 and an HP 12c is NOT innovative.

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Listen: Financial institutions prep for FedNow July launch

BankInovation

The U.S. federal government’s instant payment service network FedNow will launch in July, triggering financial institutions and tech providers to come together to prepare operations for the new payment rail.

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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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Why Bank of England is looking to bolster UK protections for savers

TheGuardian

Governor has played down repeat of financial crisis but review of payout policy points to unhappy memories When Andrew Bailey revealed in a speech that the Bank of England was working on updating Britain’s deposit insurance guarantee scheme, which gives government protection on savings up to £85,000 in the event of a bank run, it was with one eye on the recent shocks, and the other on events from 15 years ago.

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MSU credit union updates CX with low-code, no-code generated solution

BankInovation

Michigan State University Federal Credit Union is launching a personalized digital banking experience in the fall developed using a low-code, no-code digital banking solution by Nextly. The solution allows $7.3 billion, East Lansing, Mich.

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UK regulators shake up financial services with new bill

The Banker

Crypto opportunities and greater UK-focused regulation lie ahead as the UK Financial Services and Markets Bill clears the last hurdles. Bill Lumley reports.

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Addressing 3 prongs to cybersecurity

BankInovation

Financial institutions must consider personnel, physical security and technical security when safeguarding their data and operations against cybercrimes. “You must look at all three as a combined piece, especially if you think about that personnel piece in a hybrid environment,” Sue Gordon, former Principal Deputy Director of National Intelligence, said at the recent CBA Live event in Las Vegas.

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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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CEOs at some of the biggest U.S. banks took pay cuts in 2022

American Banker

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5 Marketing Types You Should Have on Your Radar

The Financial Brand

This article 5 Marketing Types You Should Have on Your Radar appeared first on The Financial Brand. When financial marketing chiefs hire lots of generalists, they get a homogenous team. Sharper hiring can help produce sharper results. This article 5 Marketing Types You Should Have on Your Radar appeared first on The Financial Brand.

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How Plaid is building new roles within faster payments

American Banker

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ESG ratings oversight long overdue

The Banker

Regulatory efforts to bring increased clarity and consistency to the burgeoning ESG ratings market are a welcome development, writes Marie Kemplay.

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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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With farmers on brink of slump, will agriculture lenders retreat?

American Banker

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HSBC hires 40 former SVB bankers to create a U.S. startup practice

American Banker

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Wells Fargo names top tech executive to head consumer banking

American Banker

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How payments tech helps fitness studios get in shape

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.