Thu.Apr 15, 2021

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Six ways to increase your bank board’s tech expertise

Accenture

Good leadership is a key indicator of successful digital transformations. And yet, while the pace of digital transformation in banking is accelerating, bank boardrooms are falling behind. Our new research report called Boosting the Bank Board’s Technology Expertise shows that only 10 percent of banking board directors have technology expertise. We believe the number should….

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How To Claim Tax Break On An ELSS SIP While Switching Jobs

BankBazaar

If you’re worried that your ELSS SIP may be impacted because of a switch in your job, read on. If you’re tired of slogging away at your job and getting paid peanuts for it, a job switch can hold the answer to your work woes. Not only does a job switch present an opportunity for career advancement and diversifying your skill set, the rise in income will help you step up your investments in Mutual Funds , Fixed Deposits etc. over the years.

Taxes 179
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Banks enhance UX by accelerating investment in digital technologies

Bobsguide

The pandemic has accelerated digital transformation in banking, leading banks to faster adopt new digital delivery models. The rise of neo and digital banking became the new normal, with an emphasis on mobile banking services.

UX 179
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4 Reasons Your Financial Institution Should be Using Social Media

SWBC's LenderHub

It’s no secret social media has made its way into millions of Americans’ everyday lives. These days, it’s basically essential that businesses have a social media presence—and for good reason. Your consumers—current and future—are actively using social media to engage with their favorite brands, make purchases, and seeking for social proof from their peers on products and services they are considering.

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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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4 Tips for Bank and Credit Union Process Improvement

Jack Henry

In our current age of technology, speed, and extreme expectations, the ability of banks and credit unions to quickly provide answers, complete transactions, and deliver service is no longer simply a convenience feature – it’s an absolute necessity. Simply put, it could be the difference between someone who hangs up the phone and someone who becomes an accountholder for life.

More Trending

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Never too late to start: The value of financial planning

PopularBank

Where are your priorities? In a 2019 survey conducted by MyBankTracker , respondents in the U.S. were asked a simple question as it related to financial planning: How much time do you spend planning your vacations vs. your finances? . The results were telling. Around 20% of respondents reported that they spent more time planning their vacations over planning their finances.

Taxes 97
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Key current issues of interest to banks, with special guest Richard Hunt, President and CEO of Consumer Bankers Association

CFPB Monitor

Mr. Hunt shares his perspective on a range of issues, including how Rohit Chopra, CFPB Director-nominee, is likely to approach his new role, the CFPB’s likely approach to innovation and overdraft rulemaking under Mr. Chopra’s leadership, how banks are engaging with data aggregators, the OCC’s role and expectations for a new Comptroller, the status of Community Reinvestment Act rulemaking, and the potential for legislative changes.

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Circle adds Facebook Diem vet to bring its stablecoin into mainstream

Payments Source

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MSU Federal Credit Union to launch financial concierge

BankInovation

MSU Federal Credit Union is piloting a “financial concierge,” solution to build banking relationships with its members, and plans to launch the program soon. The solution is an effort to build relationships with younger customers who no longer visit bank branches, said Benjamin Maxim, assistant vice president of digital strategy and innovation at the East […].

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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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13 tales from the mobile wallet graveyard

Payments Source

Mobile 165
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JPMorgan Chase, Citi, Bank of America report uptick in profits, improved efficiency ratios

BankInovation

Most big banks have benefited from releasing reserves they had tucked away as a rainy-day fund in case loans turned bad, but government spending and liquidity support seem to have blunted the edge and the released reserves are now juicing the banks’ bottom line. JPMorgan Chase, Citibank and Bank of America are among the banks […].

America 72
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BitPay joins COPA in fight for innovation

The Paypers

US-based BitPay , a provider of Bitcoin and cryptocurrency payment services, has announced a partnership with the Crypto Open Patent Alliance (COPA).

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Farmers Insurance Review: Extensive Offerings With Focus on Auto Perks

MyBankTracker

Farmers Insurance is a national insurance carrier that offers both personal and business lines of insurance coverage. If you watch TV or listen to the radio, you’ve inevitably heard the catchy jingle, “We are Farmers… ” and you know the rest. Aside from their ear-wormy commercials, you’ll find that they have an extensive offering of property and casualty insurance policies.

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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 Credit Cards Report Shows Financial Stress and Less Spend

FICO

The FICO Credit Market Report for the UK paints a conflicting picture of UK consumer finances, with both increased financial stress and reduced spending. Our February data reflects another month in lockdown and government support, with falling average spend, lower general card and cash usage and decreasing delinquency rates. Those able to save have put more aside but those suffering from financial stress have seen no change in the circumstances contributing to their situation.

Cards 52
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New Dimension Fed Credit Union (ME) Has Competitive Kasasa Products

BankDeals

New Dimensions Federal Credit Union (ME) offers competitive Kasasa Cash, Kasasa Cash Back, and Kasasa Saver accounts in four Maine counties.

Maine 59
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U.S. Bancorp bets on corporate payments rebound

Payments Source

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JP Morgan to invest USD 2.5 tln in climate change businesses

The Paypers

JP Morgan has aimed to lend, invest, and provide other financial services for up to USD 2.5 trillion of banking business to be done for companies and projects tackling climate change and social inequality over the next decade, according to Reuters.

Lending 41
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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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There are limits to how quickly businesses can dump paper

Payments Source

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St. Paul Federal Credit Union (MN) Offers Top Rate On 60-Month CD

BankDeals

St. Paul Federal Credit Union (MN) is currently offering a top rate on its 60-month CD. Minimum opening is $1k, with no stated balance cap. Also available as an IRA CD.

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The virtual B2B card push also helps combat fraud

Payments Source

Fraud 88
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How Flagstar Bank shaved $48 million from crisis-era DOJ settlement

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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Nordic API Gateway rebrands to Aiia

The Paypers

Nordic API Gateway has announced that its fully rebranding to Aiia to reflect the company’s pan-European focus of delivering Open Banking solutions.

Company 41
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House bill aims to encourage more de novo banks

American Banker

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ITFC conducts first transaction with Bolero

The Paypers

The International Islamic Trade Finance Corporation (ITFC) has facilitated its first transaction with trade finance digitisation provider Bolero , according to gtreview.com.

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How long can credit unions keep sacrificing fees?

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.