Thu.May 11, 2023

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Convenience chain adds Amazon palm pay

Payments Dive

This is the second convenience store chain to install the palm-scanning technology, which is also being used in sports arenas and Amazon’s own brick-and-mortar retail locations.

Retail 370
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A BNPL Borrower Strategy That Builds Relationships

SWBC's LenderHub

Times may be tough financially, but that does not mean consumers are skimping on necessities or sacrificing luxuries to get by. Many are leveraging a popular lending concept that facilitates short-term split payment options to finance their purchases.

Strategy 148
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Everee takes on EWA providers

Payments Dive

The payroll provider is angling to disrupt the earned wage access companies that have been making it easier for employers to offer workers on-demand pay.

Company 312
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CFPB issues circular on reopening closed deposit accounts

CFPB Monitor

The CFPB has issued a circular that addresses the reopening of closed deposit accounts (Circular 2023-02). Specifically, the circular warns that it can constitute an unfair act or practice for a financial institution to unilaterally reopen closed accounts to process debits or deposits. By way of background, the CFPB describes a scenario in which, after a consumer has completed all of the steps required by the financial institution to close a deposit account and the financial institution has clo

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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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A Lender’s Guide to Navigating the Appraisal Modernization Path

SWBC's LenderHub

In Fannie Mae’s March Selling Guide Announcement , the government-sponsored enterprise introduced updated guidance to lenders and mortgage industry professionals aimed at modernizing the valuation process. According to the announcement, “Valuation modernization helps lenders, appraisers, and risk investors manage collateral risk more effectively, while also benefiting consumers via greater appraisal accuracy, lower costs, and increased speed of loan decisions.

More Trending

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Rapid Finance partners with Mambu to provide Lending-as-a-Service

The Paypers

US-based financial service company Rapid Finance has integrated with Mambu ’s cloud-based lending platform to offer Lending-as-a-Servive to financial institutions in the US.

Lending 68
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New Law Makes It Harder to Sue Appraisers

Realwired Appraisal Management Blog

The valuation industry doesn’t often get helpful legislation. Today we do. On May 2, 2023, the Florida Legislature passed HB 213/SB 398, which amends Florida Statutes to establish new time limitations for legal actions against real estate appraisers and appraisal management companies (AMCs).

Florida 52
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Visa invests in and partners TerraPay

The Paypers

Payments infrastructure company TerraPay has announced a strategic equity investment from Visa and a partnership to simplify cross-border ecommerce for consumers and SMBs.

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RSG Media Boosts Ad Viewership by 10-25% with FICO Optimization

FICO

Home Blog Feed test RSG Media Boosts Ad Viewership by 10-25% with FICO Optimization Global media tech company develops AI-driven media planning platform and wins FICO ® Decisions Award for AI, Machine Learning & Optimization Tue, 05/09/2023 - 02:51 Saxon Shirley by Nikhil Behl Chief Marketing Officer expand_less Back to top Thu, 05/11/2023 - 13:00 Innovation in Media Planning Optimization RSG Media , a global media tech company headquartered in New York, is achieving significant benefits for its

Groups 52
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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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Revolut, Upvest enable ETF and stock trading in Europe

The Paypers

Revolut has partnered with Germany-based fintech Upvest to provide its end users with fractional ETF and European stock trading throughout Europe.

Fintech 67
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PNC rebuilding tech stack to add flexibility

BankInovation

PNC is rebuilding its technology stack to be more modern and flexible, Michael Degnan, head of enterprise innovation at PNC, said Wednesday at Fintech Nexus in New York. The $557 billion bank has nearly completed upscaling its tech to enable more agile decisions — especially when quick pivots are necessary, he said.

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Cyber fraud start-up ThreatFabric closes EUR 11.5 mln seed round

The Paypers

Netherlands-based fraud prevention company ThreatFabric has raised EUR 11.5 million in a seed round to expand its technical capabilities and support growth.

Fraud 45
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What banks are saying about AI

BankInovation

NEW YORK — Banks are looking into AI use cases within their operations, but many are proceeding with caution as they keep customer experience, data collection and, especially, regulation in mind. Financial institutions discussed AI within the industry at Fintech Nexus on Wednesday.

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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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Is keeping your money in a bank the safest option?

Qudos Bank

Keeping your money in a bank v’s at home Is cash really king? With cyber-crimes on the rise [1] and fears of a potential recession, you may be wondering whether your money is kept safer in a bank or as cold, hard cash in the confines of your home. Banking your money offers the overall safest and most beneficial option for both protecting and growing your savings.

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Interac launches digital data verification service branch

The Paypers

Interbank payments network Interac has launched an identity verification service that facilitates the connection between Canadian consumers, businesses, and governments.

Data 41
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Rise in consumer loan delinquencies signals end of pandemic trend

American Banker

Trends 91
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Simplifying Our Social Strategy

Image Works Direct

As social media continues to become more impactful in marketing, the strategy for it continues to change. Because of that, we’re making a massive enhancement to our social media accounts!

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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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Citi Retail Services expands embedded payment strategy

The Paypers

Retail payments and credit solution provider Citi Retail Services has announced the expansion of its embedded payments strategy with the launch of the Citi Pay product suite.

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FDIC proposes special assessment to replenish deposit insurance fund

American Banker

FDIC 78
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Feedzai launches ScamPrevent to fight financial crime

The Paypers

Financial crime and risk management solutions provider Feedzai has launched ScamPrevent on its RiskOps Platform to help banks protect their customers from financial scams.

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Place a growth limit on the Fed's reverse-repo facility

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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RBI and TIS to offer customers enhanced API and connectivity services

The Paypers

Austria-based Raiffeisen Bank International (RBI) and Treasury Intelligence Solutions (TIS) have partnered to offer cash management solutions to mutual customers.

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'I want to see consumer finance where people aren't stuck': CFPB's Chopra

American Banker

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Central Bank of Brazil allows firms to participate in its CBDC pilot

The Paypers

The Central Bank of Brazil has announced that it will allow 10 commercial banks to participate in its CBDC pilot.

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A Bright Future for BNPL Is in the (Bank) Cards

The Financial Brand

This article A Bright Future for BNPL Is in the (Bank) Cards appeared first on The Financial Brand. Buy now, pay later plans from the Klarnas of fintech introduced many online buyers to installment payments, but banks are poised to move in. This article A Bright Future for BNPL Is in the (Bank) Cards appeared first on The Financial Brand.

Cards 37
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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.