Sun.Feb 03, 2019

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Is the branch dead?

Chris Skinner

A regular discussion of mine has resurfaced in recent days: is the branch dead? Why it has returned is due to the announcement of Santander closing a fifth of its UK branch network: The Spanish-owned bank, which has one of the largest high street networks in Britain, will shut 140 branches, leaving … The post Is the branch dead? appeared first on Chris Skinner's blog.

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SWIFT To Assist Bangladesh Bank After $81M Hack

PYMNTS

SWIFT global payments network has agreed to help Bangladesh Bank rebuild its infrastructure after hackers stole $81 million in 2016. The funds were stolen when cybercriminals hacked into Bangladesh’s systems and sent fake orders via SWIFT to the NY Fed. While $1 billion was requested, $81 million was eventually sent to accounts at Manila-based Rizal Commercial Banking Corporation (RCBC), and then mostly disappeared into Philippine casinos.

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Things worth reading: 4th February 2019

Chris Skinner

Things we’re reading today include … Australia bank inquiry does not recommend individual criminal charges Wirecard says law firm found no findings of criminal misconduct Banking royal commission final report a scathing account of ‘conduct driven by greed’ – politics live Australian banking inquiry recommends new watchdog for regulators Royal … The post Things worth reading: 4th February 2019 appeared first on Chris Skinner's blog.

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VCs Urge Tech Startups To Spend Less

PYMNTS

Venture capitalists are reportedly urging startup companies to curb their spending and hold on to more capital as concerns about the volatility in the stock market and the growth of the global economy are starting to worry them. According to a report in The Financial Times , it’s the first evidence that worries about the stock market and global economies are impacting the financing of private technology startups.

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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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Will Robo-Advisors And Chatbots Eliminate The Need For Financial Literacy?

Ron Shevelin

Who needs to be financially literate when banks and credit unions can make financial decisions for us?

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More Trending

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Startup makes meal ordering social to cut delivery fees

Payments Source

Mobile technology is giving restaurants new ways to accept orders and payment, but largely ignores the social aspect of ordering a meal, particularly in office complexes.

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Australian Reg: Banks Need More Competition

PYMNTS

Australia’s competition regulator is going after the banking industry in the country, vowing to punish what it claims is misconduct, reported The Financial Times. The report, citing Rod Sims, chief executive of the Australian Competition and Consumer Commission, reported that having more competition in the banking industry is the ideal way to fix the industry.

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Issuers and merchants need to rethink reward expense

Payments Source

One solution would be to move to infrastructures where card issuers can share the cost of offering rewards with the retailers — making it a win-win-win situation, according to Mehmet Sezgin, CEO and founder of myGini.

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Electrocomponents acquires Monition

The Paypers

(The Paypers) Electrocomponents has acquired Monition , a UK-based company focused on design, development and application of condition-monitoring systems.

System 28
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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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? Wells Fargo Unveils New Logo to Rebuild Its Battered Brand

The Financial Brand

The megabank aims to rehabilitate its image, rebuild consumer trust, and heal the big black eye left on its brand by scandals and bad press. The post ✅ Wells Fargo Unveils New Logo to Rebuild Its Battered Brand appeared first on The Financial Brand.

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Automating is the way of the future in banking

Insights on Business

The future is here with the convergence of technologies and capabilities including AI, robotic process automation, blockchain, advanced analytics and cloud. Together, the convergence is causing major change in all aspects of our lives. Business processes are being recreated and automated; and to keep up, we need to change the way that we work and even our workplaces.

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SMBs Reign In Spending, Hiring

PYMNTS

Coming off a strong 2018, small business owners are becoming more conservative in terms of how many investments they make and how many new people they will hire. According to a report in The Wall Street Journal, some of the business owners are responding to signs that sales are slowing, while others are reacting to fears over tariffs with China, volatility in the stock market and the impact from the government shutdown that lasted more than a month and was the longest shutdown of the governmen

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CFPB, Payday Lenders Settle

PYMNTS

The Consumer Financial Protection Bureau , the government watchdog agency, settled with a handful of payday lenders over alleged violations of the Consumer Financial Protection Act. Marketwatch , citing the CFPB, reported it settled with payday lenders and officials of the companies located in Canada and Malta. According to the report, the CFPB contended the companies told consumers they had to repay loans in states where the loans were running afoul of licensing and usury rules.

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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.