Perficient
AUGUST 5, 2021
Do blog readers like to have their opinions heard? For those that do, the Federal Reserve Board has announced it will extend, until September 9, 2021, the comment period for its proposal to govern funds transfers over the Federal Reserve Banks’ FedNow Service. The FedNow Service is a new 24x7x365 service that will support instant payments in the United States and is expected to be available in 2023.
Accenture
AUGUST 3, 2021
In this short series of blogs I’m exploring how the behaviour of UK financial services customers has changed amid the pandemic. In the first two posts, I drew on the UK findings of our Banking Consumer Study: Making digital more human to examine how COVID-19 has affected the shift to digital banking services across different…. The post How to make empathy part of UK banks’ digital skillset appeared first on Accenture Banking Blog.
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Abrigo
AUGUST 6, 2021
How can community financial institutions thrive in 2021? Community banks provide unique and important banking services for their customers, but they also face significant obstacles. Would you like other articles like this in your inbox? Takeaway 1 Community banks play an important role in the economy and their communities, but they face significant obstacles.
Independent Banker
JULY 31, 2021
Photo by Robert Severi. The people we employ embody our banks, and the personal relationships our teams forge with our customers make us unique in the industry and keep our customers returning. COVID-19 was an experiment in forced change, and now that we’re transitioning into a new norm, we’re grappling with what’s next. We know we cannot just backtrack to where we were in early 2020; we need to develop a new, post-pandemic mindset.
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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
Jack Henry
AUGUST 5, 2021
Your organization’s tech team is busy implementing a new digital banking feature that’s going to be a huge benefit to your accountholders. Congratulations! Now it’s time to plan on how you’ll introduce the new solution to your accountholders, explain how it works, and drive enrollments.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Abrigo
AUGUST 4, 2021
Survey: Top Challenges and Trends for BSA/AML Professionals Abrigo's 2021 FinCrime survey benchmarks obstacles and trends for BSA/AML and fraud professionals. Want to see more results from the 2021 FinCrime Survey? Register for the webinar: Register Now. Takeaway 1 Managing false positives and keeping up-to-date on regulatory changes continue to be a challenge for financial institutions.
ATM Marketplace
AUGUST 3, 2021
The finalists have officially been announced for the Bank Customer Experience Summit Awards, which will be held in Chicago during the summit, which will run from Sept. 13 to 15.
ABA Community Banking
AUGUST 5, 2021
The investment of time and effort on the front end of a CRA cycle can yield notable benefits. The post Preparation: The Overlooked Key to CRA Success appeared first on ABA Banking Journal.
SWBC's LenderHub
AUGUST 2, 2021
Last Week. The highlight of the week was the July FOMC meeting and announcement. Importantly, there was some language change that acknowledged the continued progress made by the economy and that they are now actively looking at the data to decide when to begin tapering.
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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
BankInovation
AUGUST 6, 2021
The Bank for International Settlements (BIS) released a proposal this week that aims to break down obstacles to international payments presented by technology differences. Until now, instant transactions made from a sender in one country to a recipient in another have been plagued by tech challenges. While Instant Payment Systems (IPS) like Zelle and Venmo […].
TheGuardian
AUGUST 2, 2021
Increases are thought to apply to three most junior positions across investment bank Goldman Sachs is increasing pay for its junior bankers, months after graduates raised concerns over “inhumane” working conditions and 100-hour weeks. The Guardian understands that the salary increases apply to the three most junior positions across the investment bank, with first-year analysts – who previously received about £50,000 in base pay – set to see their pay rise to $110,000 (£79,000) before bonuses.
ABA Community Banking
AUGUST 4, 2021
As kids head back to school, banks across the United States will deploy their resources, reach and expertise to provide the next generation, particularly those in underserved communities, with the financial education they need. The post Bank Partnerships Improve America’s Financial Education Report Card appeared first on ABA Banking Journal.
ATM Marketplace
AUGUST 6, 2021
If you want to have an effective ATM UI, here are two tips for success.
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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.
BankInovation
AUGUST 5, 2021
Chilean fintech Global66 is tapping into the vast pool of remittances and money transfers sloshing around Latin America, hoping a new wave of products will give it an edge over a hoard of competitors. The start-up that employs 200 people in eight different countries plans to use its latest funding round to promote a new […].
TheGuardian
AUGUST 3, 2021
Climate campaigners say HSBC’s involvement is ‘cynical’ attempt to distract from investments in coal power A group of the UK’s biggest financial institutions plan to hasten the phasing out of coal power in Asia by buying out fossil fuel plants in order to shut them down within 15 years. Finance companies including lenders HSBC , Citi and BlackRock Real Assets together with UK insurer Prudential are working with the Asian Development Bank on the plans, according to a report by Reuters.
Banking Exchange
AUGUST 4, 2021
Traditional banking products are “out”, according to tech company Temenos Retail Banking Financial Trends Feature Human Resources Customers Performance Feature3 Covid19 Branch Technology/ATMs Financial Research.
CFPB Monitor
AUGUST 5, 2021
To further its ongoing diversity, equity, and inclusion (DEI) efforts, the New York State Department of Financial Services (DFS) announced an initiative to collect and publish diversity data on the demographic makeup of NY-regulated financial institution’s boards and senior management teams. In its July 29 th business industry letter , DFS emphasized that transparency around this data will help measure progress toward DEI goals, allow firms to assess where they stand relative to their peers, an
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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.
BankInovation
AUGUST 5, 2021
Wells Fargo is asking those who connect via its API to migrate from its token-based API to the OAuth 2 API, which adds “an additional layer of security by requiring a digital certificate,” Wells Fargo said in an alert sent to developers today. Those using Wells Fargo’s API have until Oct. 31, when the token […].
TheGuardian
AUGUST 2, 2021
Survey found customers who had been victims of scams often struggled to contact their bank The UK’s biggest banks are failing to properly help fraud victims , leaving them “feeling abandoned at a time of crisis and exposed to future scams”, the consumer group Which? has claimed. Which? found that customers often struggled to contact their bank after they had been a victim of a scam, including one HSBC customer who waited a total of seven hours on hold and racked up a £50 phone bill.
William Mills
AUGUST 2, 2021
We're back with a new episode of Accelerated, a podcast series that gives a behind-the-scenes look at how fintech-banking deals are made and why they’re important.
CFPB Monitor
AUGUST 5, 2021
Maine has amended its Consumer Credit Code to target loans made using a bank partnership model. The amendments include an anti-evasion provision under which a purported agent or service provider is deemed a “lender” subject to Title 9-A, Article 2 of Maine Revised Statutes. Article 2 contains a licensing requirement and rate and fee limits for consumer loans.
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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.
BankInovation
AUGUST 4, 2021
Cloud-based software company Salesforce announced this week it will acquire robotic process automation (RPA) provider Servicetrace in a move that will boost Salesforce’s function-specific offerings, especially with regard to finance. The German RPA provider will become part of Salesforce-owned MuleSoft, which offers API management and other integration solutions.
Banking Exchange
AUGUST 2, 2021
Academics argue that universal digital dollars could threaten financial stability and privacy Risk Management Technology People Feature3 Feature Financial Trends Blockchain Bitcoin Cryptocurrency.
SWBC's LenderHub
AUGUST 2, 2021
There is a somewhat dated adage in business that it costs five times more to acquire a new customer than it does to retain an existing one. However, in focusing on this data point, many financial institutions lose sight of something even more important—connecting with account holders, creating positive experiences with your brand, and delivering value.
CFPB Monitor
AUGUST 5, 2021
We look at the practices found to be unlawful by CFPB examiners. In addition to “as low as” rate advertising by providers of private student loans that did not disclose rates were dependent on borrower creditworthiness, we discuss servicer practices involving: providing inaccurate information about eligibility for the Public Service Loan Forgiveness program, automatic placement in a natural disaster forbearance, failing to waive or refund overcharges imposed after servicing transfers of loans o
Advertiser: Data Robot
The buzz around generative AI shows no sign of abating in the foreseeable future. Enterprise interest in the technology is high, and the market is expected to gain momentum as organizations move from prototypes to actual project deployments. Ultimately, the market will demand an extensive ecosystem, and tools will need to streamline data and model utilization and management across multiple environments.
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