Thu.Apr 27, 2023

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Self-checkout now dominant grocery checkout format, report says

Payments Dive

Self-checkout, which grocers have turned to as a way of lowering costs, accounted for 55% of transactions in 2022, according to shopper insights firm VideoMining.

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Nature is key to banks’ sustainability ambitions

Accenture

The growing threat of climate change has spurred banks and other financial services companies to step up efforts to become sustainable. Many have pledged to fight climate change and reduce their greenhouse gas emissions to net zero. Far fewer firms, however, have begun the vital task of arresting the destruction of our natural environment. Without… The post Nature is key to banks’ sustainability ambitions appeared first on Accenture Banking Blog.

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Payments increasingly in regulatory crosshairs, industry lawyers say

Payments Dive

Attorneys and payments professionals called out recent areas of interest for regulators during the Electronic Transactions Association’s conference this week in Atlanta.

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Bankers: What Problem Are You Trying to Solve?

Jeff For Banks

Finovate Spring 2023 is coming up in late May and the social medial buildup is palpable. Industry pundits in the know about everything financial technology and financial technology firms will soon be clinking martini glasses saluting each other and telling stories about their profitability and number of bank installs they have under their belt. I was actually joking about the last two things.

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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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This week’s podcast episode: Recent federal and state debt collection developments

CFPB Monitor

Third-party debt collectors, first-party creditors, and debt buyers face an ever-evolving federal and state regulatory landscape as well as ongoing private litigation. We first look at the impact of the CFPB’s most recent rulemaking agenda on debt collectors. We then discuss compliance and licensing issues under District of Columbia, California, Utah, and New York debt collection laws and the Wyoming “debt buyer” licensing requirement. .

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UK economy not ‘out of the woods’, says Barclays boss after bank’s record profit

TheGuardian

Venkatakrishnan says bank remains cautious about months ahead despite first-quarter profit of £2.6bn The British economy is still not “out of the woods”, according to Barclays’ chief executive, who said the bank would remain cautious in the months ahead despite making its strongest quarterly profit since 2011. CS Venkatakrishnan said: “The macro-economic outlook around the world – not only the UK or in the US – is a little better today than it was six months ago.

US 61
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US Department of the Treasury issues the 2023 de-risking strategy

The Paypers

The US Department of the Treasury has revealed the 2023 De-Risking Strategy, which examines the phenomenon of financial institutions de-risking.

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Banks prioritize tech spend in Q1

BankInovation

Tech spend remained strong overall in the first quarter as the industry prepped for an economic downturn, and turbulence swept the banking world amid the collapse of Silicon Valley Bank and Signature Bank.

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Pyypl rolls out social, micro-investment platform

The Paypers

Pyypl has announced the commercial rollout of its social, micro-investment platform for self-employed entrepreneurs and micro-SMEs in Africa.

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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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Q&A with Lee Wetherington, senior director of corporate strategy at Jack Henry

BankInovation

Core provider Jack Henry is looking to technology to address changes in today’s payments landscape and client concerns following the collapse of Silicon Valley Bank while preparing to launch new solutions to address cyberthreats in the financial services industry.

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EU Parliament approves the Transfer of Funds regulation

The Paypers

The EU Parliament has voted on a new set of rules that support the tracing of crypto asset transfers in the same way as traditional money transfers.

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FIS sees uptick in bank solutions demand post-SVB

BankInovation

FIS posted an uptick in its banking solutions demand in the first quarter following the collapse of Silicon Valley Bank. The financial services technology provider remains committed to banking services through turbulent or uncertain times, Chief Executive Stephanie Ferris said during Thursday’s earnings call.

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PPRO partners NPCI International for UPI access

The Paypers

Digital payments infrastructure provider PPRO has partnered with NPCI International Payments Limited (NIPL) to offer global partners access to UPI for cross-border transactions.

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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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There are three ways out of the First Republic mess. All have downsides.

American Banker

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Clover integrates Tap-to-Pay in its Clover Go iOS app

The Paypers

US-based Clover , an extension from Fiserv , has enabled SMBs in the US to accept in-person contactless payments on their own iPhone due to an integration with the Clover Go iOS app and Tap-to-Pay.

US 36
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House Financial Services, Ag panels to tackle crypto bill together

American Banker

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Celerant partners Sezzle for BNPL

The Paypers

Retail software company Celerant Technology has partnered with consumer financing solution provider Sezzle to integrate Buy Now, Pay Later (BNPL) on its ecommerce platform.

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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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How does UBS’s takeover of Credit Suisse stack up financially?

The Banker

The first quarter results for both banks are in, but the value of what UBS has acquired remains to be seen. Anita Hawser reports.

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Rego Payment Architectures partners with ENACOMM

The Paypers

White-label digital wallet platform provider for FIs Rego Payment Architectures has entered a three-year agreement with fintech ENACOMM as its data integration platform.

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Community groups seek investigation of KeyBank for alleged redlining

American Banker

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diñeiro joins forces with Envestnet | Yodlee

The Paypers

diñeiro has selected Envestnet | Yodlee to supply financial data and analytics so mortgage brokers can understand a borrower’s financial position.

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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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Digital wallets become a buy now/pay later battleground

American Banker

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VigiPay taps ThetaRay's AI solution for AML monitoring

The Paypers

Nigeria-based paytech VigiPay has chosen ThetaRay ’s AI solution to combat money laundering, sanctions violations, and other financial crime risks.

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AI will alter banking, but it won't change the need for human bankers

American Banker

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El Salvador launches a Bitcoin and Lightning Network course

The Paypers

The Government of El Salvador has launched a Bitcoin and Lightning Network course supported by the Salvadoran University.

Course 36
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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.