Fri.Sep 24, 2021

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How to move from transactional to relational banking

ATM Marketplace

If there is one constant need for banks, it is the need to acquire new customers and to convert them into lifelong customers; however, accomplishing this task is no easy feat. A panel at the Bank Customer Experience Summit addressed how to create not just transactional customers, but rather relational.

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‘Eerie silence’ as Evergrande misses payment deadline

TheGuardian

As debt-laden Chinese property giant enters 30-day grace period, officials look to limit unrest and job losses The embattled Chinese property developer Evergrande is inching closer to the potential default that investors fear, after missing an interest payment deadline. The company, which has total debts of about $305bn (£222bn), has run short of cash and investors are worried a collapse could pose systemic risks to China’s financial system and reverberate around the world.

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Plaid partners with digital banking platform Q2

BankInovation

API integration provider and data network Plaid this week announced a new partnership with digital banking platform Q2 to offer customers a secure, reliable means to connect accounts to apps and services. It’s an alliance that will give developers at more than 500 banks and credit unions free access to the technology platform, Plaid spokesperson […].

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FICO Facts: Do FICO Scores Consider Telco and Utility Data?

FICO

Do FICO Scores Consider Telco and Utility Data? The unequivocal answer is yes! FICO® Scores have always considered telco and utility payment data that is furnished to the three nationwide U.S. credit bureaus : Equifax, Experian and TransUnion. The inclusion of telco and utility payment information dates back to the release of the very first FICO Scores in 1989.

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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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Remitly’s IPO reveals details of its technology moves

BankInovation

Remittance fintech Remitly began trading on the Nasdaq Thursday, with its IPO starting at $43. The Seattle-based company’s S-1 filings, filed ahead of its IPO reveal details about some of the fintech’s technology efforts and how they contribute to its business model. Remitly is built on a cloud-based service-oriented architecture, or SOA, according to the […].

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Funding wrap: AI-driven Asian fintech closes $400M series D

BankInovation

It was a diverse week for investment in fintech automations, headlined by the largest-ever funding round targeting AI-driven tech from Asia. Here in the U.S., investors threw their support behind an intelligent document processing technology firm and an altruistic startup aiming to help millennials and others progress toward homeownership. Advance Intelligence Group In the biggest […].

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Community Banks’ Early Technology Investment Pays Off During Pandemic

ABA Community Banking

Community banks that invested more in technology before COVID-19 made more loans and took in more deposits during the pandemic than did community banks that invested less in technology, according to a new FDIC report. The post Community Banks’ Early Technology Investment Pays Off During Pandemic appeared first on ABA Banking Journal.

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Battle of the exchange funds

BankUnderground

Max Harris. This post contributes to our occasional series of guest posts by external researchers who have used the Bank of England’s archives for their work on subjects outside traditional central banking topics. When Britain created the Exchange Equalisation Account (EEA) in 1932, its designers had little sense of the controversy that would ensue.

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E-Signature Provider PandaDoc Joins Unicorn Club After Closing Series C Round

CB Insights

PandaDoc , an e-signature startup, has raised an undisclosed amount in Series C. The round drew participation from Altos Ventures, M12, and One Peak Partners, among others. How’s the company performing? San Francisco-based PandaDoc’s digital transactions management solution helps users generate e-signatures and collect payments for contracts, quotes, forms, and invoices.

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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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JPMorgan to replace US core banking system with Thought Machine | China bans all cryptocurrencies | Fantasy soccer NFT platform Sorare scores $680m

Bussman Advisory

FinTech Ecosystem Insights by Bussmann Advisory is our weekly newsletter with over 40’000 subscribers across different social media channels, summarizing relevant news and reports related to ecosystems around disruptive technologies, highlighting key updates from the industry as well as our portfolio companies: JPMorgan Chase to replace US retail core banking system with Thought Machine’s Vault China’s central bank says all cryptocurrency-related activities are illegal Fantasy

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FICO Fact: Do FICO Scores Consider Telco and Utility Data?

FICO

Do FICO Scores Consider Telco and Utility Data? The unequivocal answer is yes! FICO® Scores have always considered telco and utility payment data that is furnished to the three nationwide U.S. credit bureaus : Equifax, Experian and TransUnion. The inclusion of telco and utility payment information dates back to the release of the very first FICO Scores in 1989.

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China bans crypto transactions

The Paypers

According to Bloomberg , China has banned all crypto transactions and vowed to stop illegal crypto mining.

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SBA Issues Final Rule on PPP Loan Review Decision Appeals Process

ABA Community Banking

The Small Business Administration has issued a final rule outlining procedures for appealing final SBA Paycheck Protection Program loan review decisions to its Office of Hearings and Appeals. The post SBA Issues Final Rule on PPP Loan Review Decision Appeals Process appeared first on ABA Banking Journal.

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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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Lloyds, Halifax, and Bank of Scotland to let customers set their own transaction limit

The Paypers

Lloyds Bank , Halifax , and Bank of Scotland have announced they will allow customers to set their own contactless card limits when the new GBP 100 transaction limit starts in October 2021.

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Why Wells Fargo picked both Microsoft Azure and Google Cloud

American Banker

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Jscrambler raises USD 15 mln in Series A funding

The Paypers

Jscrambler , a Portugal-based technology company specialising in cybersecurity products for web and mobile applications, raised USD 15 million in Series A financing.

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Does vaccine passport give Apple an edge in payments?

American Banker

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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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ADIB partners with Spotii to launch Buy Now, Pay Later prepaid card in UAE

The Paypers

Abu Dhabi Islamic Bank (ADIB) has partnered with Spotii , a digital payments provider, to introduce the first virtual 'Buy Now, Pay Later' prepaid card in the UAE.

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Banks and credit unions unswayed after House softens IRS reporting plan

American Banker

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Serrala and Tink partner for PSD2 payments in Europe

The Paypers

Germany-based Serrala , a global financial automation and payments software company, and Open Banking platform Tink , have entered a channel partnership for Open Banking technology.

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Do women on boards make banks less risky? It’s too soon to say.

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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Circle integrates with Plaid

The Paypers

Circle , a financial technology firm that provides payments and financial infrastructure for internet businesses, has integrated with Plaid , a data network helping the digital financial ecosystem.

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China bans crypto transactions, vows to stop illegal mining

American Banker

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REPAY announces strategic partnership with Veem

The Paypers

REPAY , a US-based payment service provider, has partnered with Veem to expand each party’s B2B payment capabilities.

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Banks' consumer-friendly moves validate challenger model

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.