Thu.Aug 26, 2021

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Harnessing The Power of the Human Connection

Jack Henry

The Human Touch. It’s just another weekday at Mazama’s. As I stand in line, I watch as a woman gracefully moves from one task to another with ease. She makes eye contact and greets every person who comes through the door. She often knows what the person wants before they even ask, as if she reads minds. She asks about your kids by name and asks about your recent vacation.

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Technology spend plays role in RBC, BMO and Scotiabank Q3 expense rise

BankInovation

Three of Canada's “Big Five” banks cited increased technology spend while providing insights into how they are each utilizing technology during this week’s third-quarter earnings calls. Here’s a rundown of what the Royal Bank of Canada, Bank of Montreal and Scotiabank revealed during their reports to shareholders: RBC The $1.3 trillion Royal Bank of Canada […].

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This week’s podcast: NACHA’s Meaningful Modernization Rule: A Close Look at the Changes for Consumer Debit Authorizations and more

CFPB Monitor

In this podcast we cover upcoming changes to the NACHA Operating Rules as part of the Meaningful Modernization rule which takes effect September 17, 2021. We discuss the payments environment leading to the changes, new disclosures for consumer ACH authorizations, use cases and requirements for Standing Authorizations and changes for Oral Authorizations.

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U.S. Bank takes ownership stake in 2 venture capital firms

BankInovation

U.S. Bank has ownership stake in two fintech-focused venture capital firms, the $558.9 billion bank announced today. The VC firms are Fin Venture Capital and Commerce Ventures, which both invest in startups that work alongside banks. David Ness, who leads the fintech engagement group, told Bank Automation News why U.S. Bank chose Fin Venture Capital […].

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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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The Future According To SoftBank

CB Insights

SoftBank Group , headed up by Masayoshi Son, has made enormous and varied bets on the future. . It has ratcheted up its investment activity since 2017, when it launched its first Vision Fund, which sized up at nearly $100B — the largest tech-focused investment fund ever. In 2019, the firm launched a $5B Latin American Fund, as well as a second Vision Fund, which has since grown in size to roughly $30B.

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Paysafe Acquired This LatAm E-Commerce Payment Service Provider For $441M

CB Insights

Paysafe , a specialized payment solutions company, acquired SafetyPay , a digital payments platform, for $441M in an all-cash deal. The deal is expected to close in Q4’21. WHO ARE THE PARTIES TO THE DEAL? SafetyPay: Florida-based SafetyPay is an online transaction platform for e-commerce companies that facilitates non-card transactions across various banking networks.

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Bank Central Asia (BCA) to pump USD 200 million in digital unit

The Paypers

Bloomberg has reported that Indonesia-based BCA has decided to invest USD 200 million in its digital arm to match competitors’ efforts in one of the world’s largest unbanked markets, according to techinasia.com.

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This Accel-Backed Digital Money Transfer Startup Raised $292M Ahead Of A Potential IPO In 2022

CB Insights

Zepz , a digital money transfer platform, has raised $292M in a Series E. The round drew participation from Accel, LeapFrog Investments, Technology Crossover Ventures, and Farallon Capital Management. HOW’S THE COMPANY PERFORMING? UK-based Zepz (previously known as WorldRemit Group) offers several online banking services, including money deposit and collection, mobile money and top-ups, and online cashless transactions.

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Qolo Raises USD 15 mln in Series A Round

The Paypers

Qolo , an omnichannel payments company, has concluded series A funding round led by US-based Raptor investment group with USD 15 mln.

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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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This Founders Fund-Backed Company Raised A $300M Series C To Enhance Corporate Card For Startups

CB Insights

Ramp , a corporate expense management platform, has raised $300M in a Series C with participation from Founders Fund, Redpoint Ventures, Thrive Capital, D1 Capital Partners, and Coatue Management, among others. HOW’S THE COMPANY PERFORMING? New York-based Ramp offers various financial products, such as physical and digital corporate cards and financial management tools.

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Absa Kenya rebounds from Covid hit

Bankelele

Absa Kenya's half-year results as at June 2021.

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Inside Facebook's plans for a banking super app

American Banker

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5 Credit Card Trends Signaling a Major Upheaval in Consumer Market

The Financial Brand

A more dynamic era driven by customer preferences and technology is bringing the card business up to speed. The post 5 Credit Card Trends Signaling a Major Upheaval in Consumer Market appeared first on The Financial Brand - Banking Trends, Analysis & Insights.

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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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New York cracks down on bank overdraft fees. Will OCC, CFPB follow?

American Banker

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Google Pay to let Indian users open fixed deposits on its platform

The Paypers

Google Pay has announced it will be working on offering fixed deposits (FDs) on its platform with the help of a India-based fintech startup Setu.

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Lenders hunker down in response to spread of delta variant

American Banker

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PayMate enters UAE with new partnerships

The Paypers

PayMate , an Indian-based payment solution provider, has partnered with Visa and Citi to automate the way businesses pay their suppliers in the UAE.

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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 Bank of America execs Montag, Finucane retiring

American Banker

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National Bank of Canada invests USD 103 mln in Flinks

The Paypers

National Bank of Canada has invested USD 103 million in Flinks , including USD 30 million in growth capital towards acceleration of the Canada-based fintech's expansion activities in North America.

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5 ways Washington could shake up the stablecoin sector

American Banker

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PawaPay raises USD 9 mln seed financing

The Paypers

UK-based and Africa-focused payments company PawaPay has closed USD 9 million in seed funding to scale its operational presence, recruit talent and expand into new markets.

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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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Weary of passwords, mobile banking users warm to biometrics

American Banker

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Mercado Libre acquires Kangu

The Paypers

Mercado Libre , an Argentina-based ecommerce technology company, has bought Brazilian-based delivery platform Kangu to increase its reach in Latin America.

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Forget Sales Training… You Need a Sales SYSTEM [VIDEO]

The Emmerich Group

If your top 100 customers do account for 50 to 140 percent of your profits, like they do for most every bank with under $2 billion in assets, you have to ask yourself: Do you really know how to identify your next top 100 potential customers? Can you get an appointment and create a relationship. Continue Reading. The post Forget Sales Training… You Need a Sales SYSTEM [VIDEO] appeared first on Roxanne Emmerich.

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NPCI International partners with Mashreq Bank to offer UPI In UAE

The Paypers

National Payment Corporation of India (NPCI) has announced a partnership with UAE-based Mashreq Bank to offer Unified Payments Interface (UPI) in the UAE.

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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.