Mon.Apr 04, 2022

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GEICO, State Farm, Nationwide, Progressive, USAA Top Q1 2022 Mobile Insurance Scorecard

Perficient

Recently, Digital Insurance issued the findings from Keynova Group on the 2022 Mobile Insurance Scorecard. While mobile has long been a part of the carrier offering – pay a bill, get an ID card, file a claim – this survey reflects the evolution of insurers from transactional into personalized servicing. I’ve long advocated that personalization includes three essential elements: . 1) Know Me – Data & Analytics Relevant to the Customer. 2) Learn About Me – Preferences and Interact

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U.S. Bank teams with Lithia on real-time payments tool

Payments Dive

U.S. Bank and Lithia Motors are teaming up to test a new real-time payments tool for customers selling their used cars to the auto dealer in their driveways. The pilot in Portland, Oregon, is expected to be rolled out nationwide this year.

Tools 221
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What Is A Lending Curve and How To Use It

South State Correspondent

A yield curve shows interest rates associated with different contract lengths for a particular interest rate instrument. With recent interest rate volatility, the yield curve is changing shape daily, and there is much discussion about how the shape of the yield curve predicts the future strength of the economy. While economists may use the shape of the yield curve to gauge future economic strength, bankers should be paying particular attention to the lending curve.

Lending 195
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Chipotle teams with Cash App for Guac Mode promotion

Payments Dive

The quick service restaurant and the money transfer app are encouraging people to join Chipotle Rewards with the chance to win free guacamole and cash.

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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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Is operations a source of competitive advantage?

Accenture

How is operations perceived within your bank? As a back-end function ripe for continual cost reductions? Or as an embedded part of an integrated end-to-end design process, collaborating with other areas to create compelling and cost-effective experiences for customers? If your answer was the first rather than second of these options, it’s time for a….

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Market Commentary: Week of April 4, 2022

SWBC's LenderHub

Last Week. Last week’s biggest market event in this reporter’s opinion was the continued sky-rocketing yield of the U.S. Treasury 2-year note as it rose another 19 basis points for the week with 2s 10s curve spread inverting Friday.

Marketing 147
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CFPB enters into consent order with student loan servicer to settle alleged UDAAP violations in connection with FFELP loans

CFPB Monitor

The CFPB has entered into a consent order with Edfinancial Services, a student loan servicer, to settle the Bureau’s allegations that Edfinancial engaged in deceptive acts and practices in violation of the CFPA UDAAP prohibition. The consent order requires Edfinancial to pay a $1 million civil money penalty. According to the Bureau’s findings set forth in the consent order (which Edfinancial neither admits nor denies), Edfinancial made various misrepresentations to borrowers with Federal Family

Training 147
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Wells Fargo expands use of nCino platform to consumer and small business banking

BankInovation

Wells Fargo will leverage nCino’s digital banking platform in its consumer and small business banking division, the vendor revealed during its fourth-quarter earnings call last week. This is an expansion of the $1.95 trillion bank’s use of the digital banking platform, which began in 2021 when Wells Fargo deployed nCino as the technological foundation to […].

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I’m locked out of my account, but Co-op Bank doesn’t answer

TheGuardian

A reader says the lender is almost impossible to contact and it doesn’t accept emails or messages In August you published a letter from a reader who found it almost impossible to contact the Co-operative Bank by phone. Nothing has changed. Both business and personal account lines are basically uncontactable, unless you have a few hours to spare. I was locked out of my business account for three weeks because I could not get hold of anyone.

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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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Emerging fintechs: Pocketnest digitizes financial wellness

BankInovation

Wealth management fintech Pocketnest digitizes financial wellness for financial institutions. The Detroit, Mich.-based startup is one of the newest additions to Bank Automation News’ Emerging Fintech Directory, a compilation of fintechs in the financial services sector. Founded in 2019, Pocketnest’s flagship offering is a white-label financial wellness platform for banks and credit unions, with clients […].

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Finastra welcomes Lynne Biggar to Board of Directors

Bobsguide

Finastra today announced the appointment of Lynne Biggar, a proven financial services and marketing leader, to its Board of Directors, effective March 2022. Lynne brings decades of experience and deep financial services insight to the Board. Most recently, she was Executive Vice President and Global Chief Marketing Officer at Visa, where she led the organization’s global brand and marketing strategy, including all consumer, B2B, and B2B2C marketing activities that advanced Visa’s brand and busin

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Hyper-Personalization + Prescriptive Analytics for Customer Offers

FICO

In today’s noisy marketplace, irrelevant offers are frustrating and often undermine customer sentiment. The win comes from consistently standing out from the competition with pre-emptive, competitive, attractive offers that you assign in real-time via omnichannel communications strategies. Personalization can mean many things, such as inserting the name of the client/ consumer to individualize digital marketing.

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WooCommerce offers Mollie Payments in the UK

The Paypers

Netherlands-based payment service provider Mollie has launched Mollie Payments for WooCommerce in the UK to support domestic and European payments.

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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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Federal Home Loan banks' purpose called into question as advances drop

American Banker

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Klarna acquires PriceRunner

The Paypers

Sweden-based Buy Now, Pay Later company Klarna has announced it completed the acquisition of PriceRunner , a comparison-shopping service activating in Northern Europe and the UK.

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Fintechs slam the FICO score. The company’s CEO says it’s evolving.

American Banker

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AJMS Group integrates Confirm for crypto AML screening

The Paypers

Dubai-based Remitex Technologies (RETL), an AJMS Group entity, has partnered and integrated with UK-based Coinfirm to offer crypto AML screening.

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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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Banks vie for share of trillion-dollar equipment finance market

American Banker

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Paysafe intensifies Canadian iGaming presence with Ontario market launch

The Paypers

Payments platform Paysafe has announced that it is live and supporting private iGaming operators with payments in Ontario, Canada.

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Energy, inflation and war: Jamie Dimon on the big risks ahead

American Banker

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Dana partners with FintechOS

The Paypers

Dana , an embedded lending platform, and FintechOS , a global technology provider for financial services companies, have partnered to provide technology solutions and value propositions to financial institutions in the South Asian region.

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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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Wells Fargo names first-ever chief sustainability officer

American Banker

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CityMall secures USD 75 mln Series C for further expansion in India

The Paypers

India-based commerce platform CityMall has closed Series C funding round led by Norwest Venture Partners , bringing the total funds raised to USD 110 million.

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Let's make a (better) deal: How Cardlytics is changing card-linked offers

American Banker

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Flink to set up debut date in Colombia, its second LATAM market

The Paypers

Mexico-based investment platform Flink has scheduled its anticipated debut on its second LATAM market, Colombia, for June 2022.

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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.