Wed.Mar 15, 2023

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A 'green' digital debit card concedes the need for plastic

American Banker

Cards 69
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Visa, Mastercard depict bank failure impact

Payments Dive

As bank card issuers faltered this past weekend, the card networks monitored payments closely, Visa and Mastercard executives said at a conference.

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The Current Banking Crisis – 10 Not So Apparent Lessons

South State Correspondent

It turns out that confidence is more valuable than capital. While we wrote about the root cause of the failure of Silicon Valley Bank (SVB) HERE , the lessons of the current banking crisis go beyond interest rate risk management. While interest rate risk caused the most significant impact on value, several other factors contributed to the terminality of each bank that was closed.

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Fiserv, Jack Henry CEOs react to bank crisis

Payments Dive

Payments processors’ CEOs this week described how their companies were affected by the recent bank industry turmoil, downplaying the impact.

Industry 301
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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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How to Build a Payment Test Automation Strategy for 2023

ATM Marketplace

Automated testing helps to identify and resolve issues faster and more efficiently, leading to improved user experience and increased customer satisfaction.

Strategy 122

More Trending

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SCOTUS extends briefing schedule in case challenging constitutionality of CFPB’s funding

CFPB Monitor

Having granted the certiorari petition filed by the CFPB seeking review of the Fifth Circuit panel decision in Community Financial Services Association of America Ltd. v. CFPB , the U.S. Supreme Court has granted the parties’ joint request to extend the time to file the briefs on the merits. The Fifth Circuit panel held the CFPB’s funding mechanism violates the Appropriations Clause of the U.S.

America 78
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Credit Suisse: what is happening at Swiss bank and should we be worried?

TheGuardian

Plunge in bank’s share price adds to fears over weaknesses in banking sector following collapse of SVB Credit Suisse shares fall to record low as top investor rules out more funding Panic has gripped global banking stocks for the second time in a week: the wave of fear prompted by the collapse of California’s Silicon Valley Bank (SVB) has been followed by fresh jitters over the stability of major European bank Credit Suisse.

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CFPB and DOJ file statement of interest in lawsuit alleging lender violated ECOA and FHA by denying loan based on appraisal alleged to be discriminatory

CFPB Monitor

The Consumer Financial Protection Bureau (CFPB) and the Department of Justice (DOJ) have filed a Statement of Interest regarding the application of the Fair Housing Act (FHA) and the Equal Credit Opportunity Act (ECOA) to a lender that allegedly denied a loan to the plaintiffs based on a home appraisal alleged to be discriminatory.

Lending 78
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Be serious, conservatives. ‘Wokeness’ didn’t cause Silicon Valley Bank’s demise | Tayo Bero

TheGuardian

The right is claiming that political correctness – not capitalism – caused this financial catastrophe. Really? You’d think that witnessing the second-biggest bank failure in US history would be a sobering moment. Since Silicon Valley Bank collapsed on Friday amid a bank run, however, Republicans have instead been twisting themselves into inelegant pretzels to blame “wokeness” for the financial disaster.

US 75
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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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CRIF, iwoca partner for Open Banking-powered lending for UK SMEs

The Paypers

In a bid to support UK small and medium-sized businesses (SMEs) struggling with the cost of living crisis, CRIF and iwoca have joined forces to bring Open Banking-powered instant lending to SMEs in the country.

Lending 68
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SVB collapse may be start of ‘slow rolling crisis’, warns BlackRock boss

TheGuardian

Larry Fink tells investors more ‘shutdowns and seizures’ in US possible and predicts inflation and interest rates to rise The collapse of Silicon Valley Bank could just be the start of “a “slow rolling crisis” in the US financial system with “more seizures and shutdowns coming”, the chief executive of the world’s largest asset manager has warned. The CEO of BlackRock, Larry Fink, also predicted in a letter to investors and company bosses that inflation would persist and rates continue to rise, t

US 75
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Clik2pay partners with Xero

The Paypers

Payment service provider Clik2Pay has announced its partnership with global small business platform Xero to save a part of Canadian SMEs’ credit card fees.

Cards 68
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Credit Suisse shares fall to record low as top investor rules out more funding

TheGuardian

Saudi National Bank says it cannot stump up more cash because of regulatory restrictions Credit Suisse shares have plunged more than 20% to record lows after its largest shareholder, Saudi National Bank (SNB), said it would not be able to stump up more cash for the beleaguered Swiss bank because of regulatory restrictions. SNB’s chair, Ammar al-Khudairy, said he would not be able to spend any more money to support Credit Suisse, since the Middle Eastern lender had already accumulated a 9.9% stak

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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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National Australia Bank issues Ethereum stablecoin

The Paypers

National Australia Bank (NAB) has completed its first intra-bank cross-border transaction using its own stablecoin via Ethereum.

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‘Lungs of the startup world’: bank fall upends most Silicon Valley industries

TheGuardian

Demise of Silicon Valley Bank has rattled not just businesses and investors but the ecosystem that grew up around it Startup founders, venture capitalists and aspirational entrepreneurs descended on Austin on Friday for the annual South by Southwest conference as they do every year. But as the day wore on, a sense of fear and confusion began to take hold amid the usual energy and buzz in the Texas capital.

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UK, US move to address SVB collapse

BankInovation

LONDON — The United States and the United Kingdom are trying to sort out the impact of Silicon Valley Bank’s collapse on fintechs. In the U.S., the Federal Deposit Insurance Corporation (FDIC) will guarantee bank deposits up to $250,000, including in insured bank branches in foreign banks that are payable to contract in the U.S.

FDIC 52
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Budget 2023: Hunt overhauls pensions, benefits and childcare in push for growth

TheGuardian

Chancellor pledges cash for businesses and parents, and says UK will avoid recession this year Budget 2023 live: reaction to Jeremy Hunt’s statement Budget 2023: key points at a glance Jeremy Hunt has said he is “proving the doubters wrong” as he used a stronger than expected economic performance to help fund new tax breaks for business investment and a drive to get people back into the workforce.

Taxes 67
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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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Top 5 2023 Trends Redefining Banking Today

FICO

Home Blog FICO Top 5 2023 Trends Redefining Banking Today FICO’s 2023 Trends Report reveals what’s impacting the financial services industry Saxon Shirley Wed, 05/25/2022 - 03:43 by Darryl Knopp expand_less Back To Top Wed, 03/15/2023 - 18:00 We are currently at an apex where several profound transformations are converging on the banking landscape – machine intelligence is positioned to complement (and even exceed) human intelligence, there are significant advancements in analytics and AI, and t

Trends 52
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Credit Suisse takes $54bn loan from Swiss central bank after share price plunge

TheGuardian

After largest shareholder was unable to provide backing, Europe’s 17th largest lender says it will use government help to become ‘simpler and more focused’ Credit Suisse has announced that it will take a CHF50bn ($53.7bn) loan from the Swiss central bank, in an action it says will “pre-emptively strengthen its liquidity” as it moves to stem a crisis of confidence a day after its share price plummeted.

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Germany-based LBBW on SVB

BankInovation

LONDON – Startup founders at FinovateEurope were initially worried about the deposits they had with tech bank Silicon Valley Bank, until the HSBC rescue emerged earlier this week, Stephan Paxmann, head of digitalization and innovation at nearly $300 billion Germany-based bank LBBW, told Bank Automation News Tuesday at the event in London.

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Credit Suisse has shot itself in the foot – and wounded the banking system | Nils Pratley

TheGuardian

The Swiss lender is deemed ‘systemically important’ so the jittery markets are studying the bank carefully – very carefully Credit Suisse: what’s happening and should we be worried? Full story: Swiss bank’s shares fall to new record low Credit Suisse’s ability to shoot itself in the foot is legendary but you would have thought its shareholders would have learned not to make matters worse.

System 62
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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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2023, the Year of Commercial Lending Transformation

BankInovation

There are many reasons to modernize your commercial lending technology. Make 2023 a year of transformation for these core reasons: Enabling a digital omnichannel experience One loan system for multiple lines of business Real-time access to data System agility to grow These all support the main priority—improving the customer experience.

Lending 52
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‘The first Twitter-fuelled bank run’: how social media compounded SVB’s collapse

TheGuardian

The speed at which Silicon Valley Bank collapsed has left experts questioning whether social media has opened up entirely new risks in the world of finance Shares in banks all over the world have plummeted in recent days as fears that the collapse of Silicon Valley Bank (SVB) could precipitate a wider crisis in the sector. The speed at which market jitters have spread across the world have forced bank executives and regulators to move with unprecedented swiftness: US authorities guaranteed all d

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BankiFi and Financialle partner for product launch

The Paypers

UK-based fintech company BankiFi has announced its partnership with Financielle to launch a new playbook for SMEs, aimed to improve their business management.

Fintech 58
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Credit Suisse latest bank to tank

BankInovation

Credit Suisse shares plummeted more than 20% at market open from the news that Saudi National Bank will not provide more funding to Credit Suisse.

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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.