Thu.Jul 28, 2022

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Durbin to lob bill at Visa, Mastercard

Payments Dive

Sen. Dick Durbin is poised to make good on his long-time threat to further rein in the two big U.S. credit card companies Visa and Mastercard with legislation aimed at increasing competition.

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Elevating Voices: A Discussion About Equity and Inclusion in Lending

SWBC's LenderHub

I'd like to welcome you to the first of a series of conversations I will be having with real estate and real estate lending professionals regarding diversity, equity, and inclusion within our industries. I believe strongly that inclusion and equity can be strong drivers of change in an area of lending that needs to evolve.

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Mastercard earnings get cross-border lift

Payments Dive

“We will continue to watch the environment closely” and “be nimble in managing our expenses,” Mastercard CEO Michael Miebach said during a conference call with analysts.

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TS Imagine Expands Executive Team with Chief Operating Officer Appointment

Bobsguide

• TS Imagine Chief Transformation and Data Officer, Thomas Bodenski, appointed as COO. New York, 27 July 2022 – TS Imagine , a global leader in trading, portfolio, and risk management solutions for capital markets, has appointed Thomas Bodenski as COO as the firm expands its executive team to support its rapid growth. Based in New York, COO, Thomas Bodenski will lead the firm’s business operations across TS Imagine’s integrated trading, portfolio, and real-time risk solutions.

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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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Taxpayers left with £421m bill after one in 12 firms default on Covid loans

TheGuardian

About 8% of borrowers – 130,000 firms – have so far failed to repay government-backed emergency loans Taxpayers have been left to foot a £421m bill to cover soured Covid debts, after one in 12 businesses defaulted on state-backed emergency loans distributed at the height of the pandemic, official figures reveal. In the first set of figures detailing the performance of government-backed loans offered to struggling firms during the outbreak, the Department for Business, Energy and Industrial Strat

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Barclays reveals 40% fall in profits after having to put aside £1.5bn

TheGuardian

UK bank earmarked money to cover US trade error and potential loan defaults caused by surging cost of living Barclays has revealed a 40% slump in profits after putting aside £1.5bn to cover a US trading blunder and potential customer loan defaults. The UK bank said pre-tax profits tumbled between April and June – from £2.5bn a year earlier to £1.5bn – falling short of the analysts’ consensus forecast of £1.6bn.

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A Proven Approach for Enhancing Your Cyber Security and Business Continuity Testing

Jack Henry

Over the past seve ral years, I’ve had the pleasure of working with many financial institutions (FIs) reviewing and testing both their Incident Response Plan (IRP) for Cyber Security and Business Continuity/Disaster Recovery Plans (BC/DRP). I am pleased to say that most FIs have plans in place to deal with unplanned outages, whether cyber or disaster related.

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This week’s podcast episode: Takeaways for banks from the CFPB’s recent consent order on garnishment orders

CFPB Monitor

In a recent consent order with a national bank, the CFPB found that the bank committed UDAAP violations in its process for handling garnishment orders and by including certain waiver language in its deposit account agreements. We discuss the specific aspects of the bank’s process that the CFPB found to be improper and what banks should consider when reviewing their own garnishment procedures in light of the consent order.

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Participation in Investor Communications Japan’s Proxy Platform Surpasses 1,700 Listed Companies

Bobsguide

Investor Communications Japan (ICJ) , a joint venture by Broadridge Financial Solutions, Inc. (NYSE:BR), a global Fintech leader, and the Tokyo Stock Exchange Inc. (TSE), announced today that the number of share-issuing companies on its electronic proxy voting platform (the Platform) has exceeded 1,700 listings, an increase of 499 companies since June 2021.

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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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NCR makes SaaS transformation, sees revenue spike

BankInovation

Automated teller machine (ATM) provider NCR Corporation remained steadfast in its software-as-a-service (SaaS) transformation in the second quarter amid a rise in digital banking alongside software and services revenue. NCR saw total revenue increase 23% year over year to $2 billion, according to its Q2 earnings release. Digital banking revenue grew 2% YoY to $131 […].

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Sumsub releases new KYC guide for traders

The Paypers

UK-based identity verification software provider, Sumsub , has published a comprehensive Know Your Customer (KYC) guide to help trading platforms remain compliant, increase pass rates, and efficiently deter fraud alerts.

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Why financial services CFOs need to partner with their CIOs

BankInovation

It’s no secret that the financial services industry is highly regulated, and it’s just one challenge the industry faces. In addition to the ubiquitous burdens the COVID-19 pandemic brought to just about every industry, financial services firms are also trying to navigate de-globalization as well as digital disruption. In order to succeed, financial services institutions […].

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The Most Influential Women in Payments: Next, 2022

American Banker

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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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TD Bank’s Paul Margarites joins Bank Automation Summit Fall

BankInovation

Paul Margarites, head of commercial digital platforms at the $1.4 trillion TD Bank, will join the Bank Automation Summit Fall 2022 speaker faculty to discuss “Embedded Finance: Frontiers in Open Banking” on Monday, Sept. 19, at 1:45 p.m. PT. Bank Automation Summit Fall 2022 will take place live from the Hyatt Olive 8 in Seattle […].

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Mastercard CEO addresses possible recession, tougher fee rules

American Banker

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Upgrade OneCard is a single card for regular and flexible payments

The Paypers

US-based fintech Upgrade has launched OneCard to give users a single card for ‘Pay Now’ and ‘Pay Later’

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How Goldman Sachs plans to conquer the mass affluent space

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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Temenos and Wipro partner to accelerate banks' digital journey

The Paypers

Temenos and Wipro have expanded their partnership to help banks across varying scales to accelerate their go-to-market strategies in regions like the US, the UK, and Australia.

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Interchange bill could cut fees for the largest credit card issuers

American Banker

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Ayoconnect launches recurring payments capabilities

The Paypers

Ayoconnect , Open Finance platform, has launched an API that provides Indonesian companies, including non-banking financial institutions, with recurring capabilities that can debit from customers’ saving accounts across multiple banks.

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Fifth Third deploys software to analyze contact center conversations

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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Alibaba.com and Kyto enter into ecommerce partnership

The Paypers

B2B ecommerce marketplace Alibaba.com has announced collaborating with Germany-based MarTech company Kyto to enable German B2B companies to set up their own digital shop.

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LendingClub leans into bank funding as economic worries grow

American Banker

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Westpac to launch digital mortgage

The Paypers

Westpac , an Australia-based bank, has announced the next steps in becoming a digital first bank and transforming the products and services offered to customers.

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Three banks invest in low-code software developer

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.