Wed.Feb 22, 2023

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Transparency for Transformation Initiatives

BankInovation

Transformation initiatives often seek to provide greater efficiency through process optimization and cost reduction or to elevate the customer experience and drive growth. Sometimes they accomplish both. In either case it’s important to consider the need for transparency in newly deployed systems and processes.

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A Bank Automation Summit Preview: Key 2023 Banking Automation Trends

Perficient

Perficient is looking forward to bringing our unique combination of automation technical know-how along with financial services and payments industry expertise to the Banking Automation Summit in Charlotte, North Carolina on March 2-3. The Summit brings together experts in the field, including bank executives, technology vendors, and consultants, to discuss the latest advancements in automation and its impact on the banking industry.

Trends 474
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Square chases bigger merchants

Payments Dive

Block-owned Square made its name catering to owners of small businesses, but the company is now setting its sights on bigger clients for growth.

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Embracing Change & Other Insurance Trends We’re Forecasting for 2023

Perficient

Whether you’re an insurance carrier or a broker, change is here and change is about to accelerate beyond the prior few years when our world was modified in ways none of us had ever seen. I’m sure this isn’t the first opinion piece you’ve read where someone has laid out the trends that you must follow to be successful in your business. I can’t tell you the exact trends that you must follow because I will never know your business as well as you do.

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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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Discover debit reboot gets marketing assist

Payments Dive

The card company is betting its soon-to-be relaunched debit account services will help it better compete with fintech and neobank rivals.

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More Trending

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Klarna touts US as largest market

Payments Dive

The Swedish buy now, pay later provider aims to keep growing in the U.S. with new services despite the intense competition.

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HUD Announces 30 Basis Point Reduction in Annual FHA Mortgage Insurance Premium

CFPB Monitor

HUD recently announced a reduction to the annual mortgage insurance premium charged to borrowers with FHA-insured loans. HUD estimates that the reduction will save FHA borrowers on average $800 annually. HUD also released Mortgagee Letter 2023-05 addressing the premium reduction, and a Factsheet addressing other steps that HUD has taken to make homeownership more affordable. .

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Lloyds bankers to share £446m bonus pot – largest in four years

TheGuardian

Lloyds says top performing bankers to share bonus pool for work in 2022 – up 11% from £399m last year Lloyds Banking Group staff will share their largest bonus pot in four years, despite the lender reporting flat annual profits as it put aside more money to protect against a potential jump in defaults amid ongoing economic uncertainty. Lloyds, which owns Halifax and is the UK’s largest mortgage lender, said its top performing bankers would share a bonus pool worth £446m for their work in 2022 –

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Deutsche Bank acquires DataMesh stake

The Paypers

Deutsche Bank has acquired a stake in DataMesh to accelerate the buildup and service offering of the bank’s merchant solutions across the Asia Pacific.

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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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UK inflation could fall below 2% this year, Citi forecasts

TheGuardian

Falling gas prices and CPI decline could boost public finances before 2024 general election Britain’s inflation rate could fall to below 2% by the end of the year, according to new financial industry forecasts, handing the chancellor a boost to the public finances before a general election in 2024. Predictions that falling gas prices will accelerate the decline this year in the consumer prices index (CPI) from last month’s level of 10.1% could also support a recovery in household living standard

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Transactions: Visa, Wedge partner on card payments

BankInovation

Digital wallet company Wedge is teaming with Visa to launch a debit card within Visa’s network in the U.S. using Wedge’s card technology. Austin, Texas-based Wedge’s card allows users to liquidate their assets — including stocks, ETFs and crypto — to pay for goods and services, according to the company.

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UK Card Spend Reaches Highest Level Since at Least 2006

FICO

Home Blog FICO UK Card Spend Reaches Highest Level Since at Least 2006 FICO data shows that inflation and Christmas consumer spending saw a sharp rise in December, while more UK customers missed a payment Darcy Sullivan Tue, 11/10/2020 - 12:17 by Liz Ruddick Principal Consultant expand_less Back To Top Wed, 02/22/2023 - 11:15 Seasonal consumer spending surged on UK credit cards in December, which is the trend you would expect in the holiday season.

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Huntington accelerates tech development by 20% in 2023

BankInovation

Huntington Bancshares continues to prioritize efficiency through branch reduction, cautious spending and automation in 2023. The $179 billion bank outlined technology development efforts during its November 2022 Investor Day and announced plans for 2023 at the Bank of America Securities Financial Services Conference last week.

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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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Swedbank partners Immuta and launches the Enterprise Analytics Platform

The Paypers

Sweden-based Swedbank has partnered with cloud data access control company Immuta to launch the Enterprise Analytics Platform.

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Emmer introduces bill to bar Fed from issuing CBDC to consumers

American Banker

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Mastercard partners Immersve to support crypto payments in Web3

The Paypers

Mastercard has partnered Web3 payment protocol Immersve to allow users to conduct crypto payments in Web3 via USDC settlements.

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How to Make Your Brand Stand Out During Financial Capability Month

Image Works Direct

With April right around the corner, National Financial Capability Month (previously Financial Literacy Month) is quickly approaching. Not only is Financial Capability Month important for raising awareness about the value of financial education, but it’s also a great marketing opportunity for your brand.

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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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Juniper Research: Embedded payments wear down card dominance

The Paypers

Juniper Research predicts that embedded finance vendors’ global revenue from embedded payments will reach USD 59 billion in 2027, wearing down card dominance within ecommerce.

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Clearview Federal Credit Union in Pennsylvania names first female CEO

American Banker

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Nethone receives ISO 27001 certification

The Paypers

Challenger machine learning-based fraud prevention company Nethone has received the ISO 27001 certification from the International Organisation for Standardization.

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The Secrets of Expert Deposit Pricing Management

South State Correspondent

You can always tell a good banker by the way they handle their deposits. With loans, it’s hard to discern expert-level skills unless you know the market and the credit. Deposits, however, are pure. When we analyze a bank, it is typically the first thing we look for, as deposit pricing and structure are the metrics that tell you the most about the quality of a bank.

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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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Computop launches new card terminals

The Paypers

Payment service provider Computop has announced the expansion of its portfolio with the launch of three Linux-based card terminals from its Switzerland-based partner PayTec.

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Wells Fargo plans financial planning upgrade to its mobile app

American Banker

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Nexi and Jakala launch a CVM development centre

The Paypers

Italy-based fintech Nexi and MarTech company Jakala have founded the CVM Martech Lab, a customer value management centre for the financial services sector.

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Latest global payments news

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.