Tue.May 30, 2023

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Consumers use cash to forget, study shows

Payments Dive

New research suggests consumers’ payment method choice can depend on what they’re buying, especially if it’s a guilty-pleasure purchase.

Study 416
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Loan Structuring with an Inverted Yield Curve

South State Correspondent

The yield curve is currently inverted, and the FOMC may take a pause at its next meeting in June. Uncertainty about the evolution of the economy and the path of future interest rates and the unusual inverted yield curve shape affords a prime opportunity for bankers to provide sound, trusted advice to clients. This is the time for bankers to offer loan structuring solutions to help customers solve business problems, mitigate risk, and manage balance sheets and cash flows.

Examples 195
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Marqeta shuts down Australia operations

Payments Dive

The modern card-issuing company is closing its outpost in Australia as part of its cost-cutting campaign.

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The CFPB section 1071 effective date

Abrigo

Timelines for small business loan data collection and reporting Deadlines for complying with the new CFPB section 1071 rule requirements for financial institutions to collect data on small business loan activities. You might also like this one-page summary of key dates and deadlines for complying with the 1071 rule. DOWNLOAD Takeaway 1 The effective date of the CFPB's new rule based on Section 1071 of the Dodd-Frank Act is June 28, 2023.

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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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Foreign Travel Gets Dearer: TCS on Credit Card Transactions Explained

BankBazaar

Travelling abroad soon? Don’t leave without knowing the new TCS rule applicable on Credit Cards, forex cards, debit card transactions, and currency purchases. There is some unfortunate news for travellers who use international Credit Cards while abroad. The Reserve Bank of India (RBI) has included international Credit Card transactions under the Liberalised Remittance Scheme, and as a result, every dollar spent abroad will now incur a 20% Tax Collected at Source (TCS).

Cards 78

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Parashar: A Rising Star’s Extraordinary Journey At BankBazaar

BankBazaar

Discover the awe-inspiring story of Parashar, a trailblazer who has rewritten the rules of success. From her groundbreaking role as the youngest CRO to her stellar sport career representing India, Parashar’s journey is a testament to her determination and resilience. Armed with linguistic prowess and an unyielding drive, she is redefining what it means to excel.

US 78
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Key Trends & Issues Facing Payment Testing Operations in 2023

ATM Marketplace

2023 is shaping up to be another year of uncertainty. There is no “new normal”, only more change. We’ve created this guide to look at the key trends and issues facing testing operations in the financial services industry in 2023 and will impact your people and your organization.

Trends 73
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UK mortgages: nearly 800 deals pulled amid interest rate fears

TheGuardian

Rates rising for new fixed-term home loans, figures from Moneyfacts show Nearly 800 residential and buy-to-let mortgage deals have been pulled during the past few days by UK banks and building societies amid concern surrounding future interest rate rises, data has revealed. The figures from the financial data provider Moneyfacts also show rising rates for new fixed-term home loans, after last Wednesday’s inflation figures moved markets to bet that the Bank of England will raise the cost of borro

Data 73
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Unpacking the Lessons and Insights from BankTech Ventures Limited Partner Summit 2023

William Mills

This year marked BankTech Ventures second annual Limited Partner Summit. BankTech Ventures is the first venture fund created specifically by and for key leaders in the community banking landscape. Launched in 2021, over 100 banks are now part of the fund, with 11 investments already made and over 100 companies in its current pipeline ready to continue fueling the innovation ecosystem for community banks.

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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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Podcast: Moving to a modern, seamless tech stack

BankInovation

Clients are used to having fragmented experiences across their banking relationships, whether it’s their credit card, debit card, auto loan or mortgage, but with a modern tech stack in place, clients can have all of their products on one platform, which will increase loyalty.

Cards 52
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DCMA pilots a point-to-point implementation of Unicoin

The Paypers

The Digital Currency Monetary Authority has announced a pilot for a point-to-point implementation of Unicoin in Latin America and Africa.

America 69
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Lenders should implement these 2 technologies now

BankInovation

Regulatory technology and fraud prevention are two areas that financial institutions should be investing in now to reduce losses and overhead costs.

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Russia abandons its plans to launch a national crypto exchange

The Paypers

The government of Russia has given up on its plans to create a national cryptocurrency exchange and will direct its focus elsewhere.

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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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4Q overdraft revenue fell 50% in three years, CFPB says

American Banker

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Annature joins NAB's reward programme for business account holders

The Paypers

The National Australia Bank has welcomed Annature , an Australia-based eSignature solution provider, in its rewards programme for NAB business transaction account holders.

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With a debt deal pending, changes are coming to the Fed's balance sheet

American Banker

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Razorpay launches one-step payments solution Turbo UPI

The Paypers

India-based fintech Razorpay has launched Turbo UPI to allow customers of online merchants to make UPI payments with redirection to a third-party UPI app during checkout.

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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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Diebold Nixdorf's bankruptcy filing emphasizes the squeeze on hardware

American Banker

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AAZZUR augments its Open Banking offering with Salt Edge

The Paypers

Germany-based embedded finance integrator AAZZUR has partnered with Salt Edge to enrich its Open Banking offers and accelerate go-to-market for its clients.

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Panama still ideal investment destination, bank execs say

The Banker

Seven years after the Panama Papers, the country is still on Gafilat’s grey list for deficiencies in combatting money laundering. Barbara Pianese reports.

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Sylq partners ThetaRay AI to automate AML monitoring and customer screening

The Paypers

France-based payment platform Sylq has partnered with SaaS AML transaction monitoring and screening solution ThetaRay AI to improve its onboarding process.

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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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Banks borrowed more to pad liquidity than they lost in crisis: N.Y. Fed

American Banker

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Fintech firms propose joint standards for Open Finance in LATAM

The Paypers

Colombia Fintech Association , FinTech México , Belvo , and other associations have partnered to propose joint standards for Open Finance in LATAM.

Fintech 36
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Retaining talented bankers requires more than a paycheck

American Banker

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Mambu partners with Mia-FinTech

The Paypers

German software company Mambu has announced its partnership with Mia-FinTech for accelerating the delivery of digital financial services and solutions.

Fintech 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.