Fri.Mar 11, 2022

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Russia pivots to UnionPay for payments alternative

Payments Dive

With Russia shut out of U.S. and EU payment infrastructures, the country is pivoting to alternatives such as China's UnionPay card system and other channels that may take its trade and commerce through China.

Payments 493
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Top 10 Regulatory Topics NBFIs Should Prepare for in 2022

Abrigo

Expert insights on 10 regulatory topics that NBFIs should consider this year Review this list of what regulators are looking for in 2022 to help your NBFI pass exams with flying colors. You might also like this whitepaper on combatting domestic terrorism financing DOWNLOAD . Takeaway 1 NBFIs are not immune to regulatory penalties, especially with examiners' increased BSA focus and the Ukraine crisis putting OFAC in the spotlight.

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Biden's digital asset order may prompt legislation

Payments Dive

Comprehensive cryptocurrency legislation may follow the executive order released this week, which called for a multi-agency response to exploring and regulating digital assets.

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Fintech Funding: Document AI company Base64.ai raises $1.8M

BankInovation

Document artificial intelligence (AI) technology company Base64.ai last week raised $1.8 million in its first funding round. Long Journey Ventures and Data Community Fund led the investment. New York City-based Base64.ai automates document identification, recognizing IDs, invoices, checks and forms in more than 60 languages. The platform leverages AI to translate any document into standard […].

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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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Communication is key when servicing ATMs

ATM Marketplace

When it comes to ATMs that are having service issues, you need to communicate clearly with your customers to maintain a good experience.

ATM 98

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Mambu: SMEs to face shrinking access to capital

The Paypers

Cloud banking platform Mambu has released a report stating that more than two thirds (67%) of small and medium sized enterprises (SMEs) globally have been unable to secure sufficient, or any, funding on at least one or more occasions.

Capital 69
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Listen: Weekly Wrap explores how blockchain can automate in financial services

BankInovation

CHARLOTTE, N.C. — In this Weekly Wrap episode of “The Buzz” podcast, the Bank Automation News team pivots to an excerpt from the Bank Automation Summit 2022 held in Charlotte, N.C., March 1-2. Learn how blockchain is being deployed at TIAA and other banks to both automate and solve unique business problems. This episode features […].

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Company Update from CEO Greg Evans – March 2022

MerhantsBanks

Spring is here and with that for me comes the same sense of optimism and hopefulness that I had a year ago. I never imagined that 2021 would play out as a mirror image of 2020 in terms of COVID. Today, while we seem to have taken a positive step forward with the health pandemic, […].

Company 52
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Indian corporate debt marketplace CredAvenue sees valuation climb to $1.3B

CB Insights

CredAvenue , a corporate debt marketplace, has raised $137M in a Series B. The round drew participation from B Capital Group, Dragoneer Growth Opportunities, and Insight Partners. <span data-sheets-value='{"1":2,"2":"<div class="cbi-cta-shortcode-wrapper"><div class="cbi-cta-shortcode-content"></div><div class="cbi-cta-shortcode-forms" ><div class="cta has-desktop"><div class="cta-desktop

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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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ABA Data Bank: Bank On Certified Accounts Available at Over 36K Branches at the End of 2021

ABA Community Banking

In 2021, 94.8% of low- and moderate-income households were nearby a branch offering a certified Bank On account—which feature low costs, minimum deposits, and no overdraft fees—up from 65.4% in 2015. Learn more about the progress of the Bank On movement at aba.com/BankOn. The post ABA Data Bank: Bank On Certified Accounts Available at Over 36K Branches at the End of 2021 appeared first on ABA Banking Journal.

Data 59
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ComplyAdvantage, Fireblocks to provide customer screening and transaction risk management for SMEs

The Paypers

UK-based financial crime detection company ComplyAdvantage has teamed with digital asset custody and settlement platform Fireblocks to provide AML customer screening and monitoring.

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Congress passes 72-hour cyberattack reporting requirement

American Banker

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Visa completes Tink acquisition

The Paypers

Visa has completed its acquisition of Tink – an Open Banking platform that enables financial institutions, fintechs, and merchants to build financial products and services and move money.

Fintech 36
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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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Berkshire Hills bets on fintech partnerships for growth

American Banker

Fintech 78
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Noh secures USD 3 mln to automate splitting bills

The Paypers

Brazil-based payments platform Noh has closed a seed round worth USD 3 million to enter the Brazil market of shared finances.

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WhatsApp is off-limits to bankers. So why do they keep using it?

American Banker

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Twitter adds 'view shop' button for US users, to boost online shopping

The Paypers

Social media platform Twitter has shifted to a more hands-on shopping strategy with addition of a new button directly connecting used to virtual stored on the platform in the US.

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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 the cloud changed the way Diebold Nixdorf approaches payments

American Banker

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Cardstream and NomuPay partner for Asian payment solutions

The Paypers

UK-based independent provider of payment solutions Cardstream has partnered with NomuPay , a global payments platform that aims to ease global payments and operating international ecommerce businesses.

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State Employees’ Credit Union adds chief culture officer

American Banker

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Stripe supports crypto businesses

The Paypers

Stripe has announced that it supports crypto businesses, including cryptocurrency exchanges, digital wallets, and NFT marketplaces.

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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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Banking news roundup

American Banker

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SBI to separate digital bank

The Paypers

State Bank of India (SBI) has announced it will separate digital entity and will revamp its current mobile application, rechristening it ‘ Only Yono ', as part of its decision to be future-ready.

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Revolut executive exits to seek $100 million for crypto startup

American Banker

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Battle Financial chooses Finxact as its platform for banking operations

The Paypers

Provider of next-gen core banking platforms to the US regional banking sector Finxact has announced that Battle Financial , a Colorado-based company building Battle Bank has selected the former to be its platform for banking operations.

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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.