Fri.May 28, 2021

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Weekly Wrap: KeyBank ramps up RPA use, Wall Street questioned by U.S. Senate

BankInovation

Bank Automation News spoke with KeyBank this week on how the $176 billion financial institution is leveraging robotic process automation (RPA) tools to automate its internal processes across commercial credit, consumer lending, commercial lending, the contact center, ACH payments, human resources and finance. KeyBank signed deals with Automation Anywhere in 2017, and with UiPath in 2020, to provide automation tools […].

Lending 98
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Protesters call on banks to ‘drop African debt’ in wake of Covid

TheGuardian

World’s poorest nations saddled with ‘imprisoning’ debt, hampering responses to the pandemic, say activists protesting HSBC meeting Activists at a demonstration outside the annual general meeting of HSBC in London have demanded the bank and other financial giants provide debt relief to African countries hit hard by the coronavirus pandemic. In an attempt to highlight the role of private creditors in the debt crises of the world’s poorest countries, campaigners with “drop the debt” banners gather

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SoftBank makes $250M bet on neobank platform Zeta 

BankInovation

This week, the?Bank Automation News?funding wrap?profiles three fintechs from across the globe, all with valuations of more than a $1 billion, indicating investors’ appetite for payments and billing fintechs. Here’s?a look at the highlights: Zeta Zeta, a cloud-native neobanking platform, raised $250 million in a Series C round from SoftBank Vision Fund 2, taking the fintech’s valuation to $1.45 billion.

Fintech 93
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Citizens, Cathay Buy Branches as HSBC Quits US Retail Banking

Banking Exchange

HSBC’s departure is the result of a “lack of scale to compete”, company says Retail Banking Management Lines of Business Feature3 Feature.

Retail 78
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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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Adjusting to NACHA rule changes

ATM Marketplace

The NACHA has updated its rules for protecting sensitive customer data for payments. Here's how to stay on top of the new regulations.

More Trending

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FICO Consumer Digital Banking Survey 2021 – Top Five Takeaways

FICO

At the beginning of the year, we commissioned a survey of 1,000 adults in each of fourteen countries to canvas them about their attitudes to opening a range of different financial accounts digitally using websites and apps. There were some very interesting findings and some results that challenged my pre-conceptions and received wisdom! At a country or regional level, you can find out what the top trends for each were by downloading the e-books: North America – Covering Canada and USA.

Survey 52
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Erie Federal Credit Union (PA) Offers Competitive Rewards Checking

BankDeals

Erie Federal Credit Union's long-standing rewards checking account, Dividend +Plus Checking, continues to offer a competitive rate in Northwest Pennsylvania.

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Digital QC Multi-Stage Power Protection

ATM Marketplace

Keep Mid-Level Office Equipment Functioning Properly

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Tinkoff shows ETFs are the most popular with Russian investors

The Paypers

Tinkoff has conducted a research into which exchange-traded funds are the most popular with investors, considering anonymous data collected from one million Tinkoff customers.

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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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Actually, Sen. Toomey, fighting racism is the Fed’s job

American Banker

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FreedomPay and JP Morgan support omnichannel solutions

The Paypers

US-based payments technology company FreedomPay and investment bank JP Morgan have announced strengthening their partnership to support omnichannel solutions for retailers in the UK and Europe.

Retail 45
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Even Amazon isn't big enough to issue its own currency: Richmond Fed

American Banker

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Marlin Equity Partners takes over majority of iBanFirst

The Paypers

The US investment company Marlin Equity Partners has announced taking over 50% of the foreign currency specialist for medium-sized businesses iBanFirst.

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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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UK interest rates swaps business haemorrhaging to US and EU

The Banker

Trillions of pounds of business migrated out of the City of London in March, according to Deloitte and IHS Markit [from Global Risk Regulator ].

US 36
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SeedBlink ends its series A financing round with EUR 3 mln

The Paypers

SeedBlink has ended the series A financing round worth EUR 3 million, of which EUR 1,1 million through crowd investing, double the initial target.

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The impact of Italy’s €235bn recovery plan on banks

The Banker

The ambitious scheme seeks to boost growth and drive reforms, but it will require sustained political support.

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Square, Google enable sellers to reach customers through direct listings

The Paypers

Square has announced a new integration with Google Merchant Center, enabling Square sellers to reach new customers through direct product listings on Google.

Google 40
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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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TD Bank commits $100M for minority small-business lending

American Banker

Lending 71
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JP Morgan study: how German midcaps are embracing technology

The Paypers

German businesses are doubling down on globalisation, embracing technology to adapt, and planning for ownership transitions in the medium term, according to a JP Morgan survey.

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A wealth of challenges for HSBC in U.S. pivot

American Banker

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Curve raises almost GBP 10 mln in crowdfunding campaign

The Paypers

Curve has closed an equity raise on Crowdcube , hitting nearly GBP 10 million in funding from 11,795 investors.

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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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Curve turns to crowdfunding to push buy now/pay later expansion

American Banker

Lending 58
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Digital bank Komo selects Brankas for instant in-app deposits

The Paypers

Philippines-based Komo , a digital banking service created by EastWest Bank , has partnered with Open Banking solution provider Brankas to enable instant in-app deposits, according to fintechnews.ph.

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Merger would create $3B California credit union

American Banker

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Four in ten consumers have invested in crypto, study says

The Paypers

38% of respondents of a UK study said they had either invested in or bought a cryptocurrency, and 84% said they had heard of at least one cryptocurrency, with 64% recognising Bitcoin.

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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.