Sat.Jun 05, 2021 - Fri.Jun 11, 2021

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Beyond Open Banking Compliance: The Opportunity for Commercial Banks

Accenture

Following our article on 5 actions to enable Open Banking for business finance, we now consider how commercial banks can innovate their entire business model by using Open Banking frameworks to build a powerful ecosystem. Open Banking, accelerated by the Consumer Data Right (CDR) in Australia, aims to give customers control of their data and….

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The Real Effects of Zombie Lending in Europe

BankUnderground

Belinda Tracey. ‘Zombie lending’ occurs when a lender supports an otherwise insolvent borrower through forbearance measures such as repayment holidays and temporary interest-only loans. The phrase was first coined for Japan in the late 1990s , but more recently several authors have documented that zombie lending to European firms has been widespread following the sovereign debt crisis (see Acharya et al (2019) , Adalet McGowan et al (2018) , Banerjee and Hofmann (2020) , Blattner et

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What is Fastly and Why a Slew of Websites Went Offline

BankInovation

An outage at Fastly Inc., a cloud-based content platform that serves many leading international websites, sent swaths of the web offline on Tuesday. Fastly is one of a number of high-level website and application hosting services that large enterprises use to serve content to millions of users simultaneously.

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What Does An Automated Data Lineage Solution in Financial Services Look Like? (Part 2 of 4)

Perficient

In my last blog post, I introduced data lineage. Today, I’ll share what an automated data lineage solution can look like when it’s implemented. In order to reap the benefits obtained from integrating data lineage into the fabric of an overarching data governance program, each of the respective governance tools must be implemented, configured, and populated in its own right.

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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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Open Banking and CDR: The open data economy

Accenture

In our last post we discussed the different channel strategies banks can adopt when considering their place in the open banking ecosystem. We spoke about the opportunity this brings for banks to distribute their products through non-banks and for banks to distribute non-bank products. Globally we are seeing this happening already, and conversations are increasingly….

Data 360

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Market Commentary: Week of June 7, 2021

SWBC's LenderHub

Last Week. While the major stock indices continued to grind higher and Treasury yields drifted in a very tight range, last week was still quite interesting. Retail investors, the new 800-pound gorilla, drove their new love interest, AMC, up 83% for the week. At one point on Tuesday, the stock was up over 140% from the prior week’s close. Other favorites such as Koss, Bed Bath and Beyond, and Blackberry were also driven to the moon.

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As Bank Branches Go Digital, How Do They Attract Customers?

Banking Exchange

Banks are having to reconsider the role physical branches play in a world of digitized customer experiences Retail Banking Financial Trends Feature Technology Customers People Performance Revenue Feature3 Tech Management Mobile Online.

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How intelligent operations can help European banks prepare for the future

Accenture

In my conversations with banks over the last year, I’ve been asked three common questions: How can we achieve a better quality of service for our customers? How can we simplify our processes so that we can reduce costs and help customers find what they need quicker? How can we improve our productivity so that…. The post How intelligent operations can help European banks prepare for the future appeared first on Accenture Banking Blog.

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OFAC Sanctions: Lessons from Deutsche Bank

Abrigo

Real consequences from OFAC sanctions violations OFAC compliance has increased in complexity and clarity with guidance released within the past few years and institutions need to take notice to avoid penalties. Would you like others articles like this in your inbox? Takeaway 1 Civil monetary penalties and reputational risks are reasons why institutions need to employ seasoned sanctions officers.

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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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Are ATMs, digital signage a good fit?

ATM Marketplace

Are ATMs and digital signage a good fit? How can they work together to deliver an omnichannel experience?

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Economic Expansion Beginning to Fuel Significant Demand for Working Capital Finance

Jack Henry

Let’s set the stage for what economic activity we are likely to see during the second half of 2021 and through much of 2022. The Conference Board is forecasting real GDP growth above 6% for the year, fueled by a strong 6.4% annualized growth rate in Q1, federal stimulus, and pent-up consumer demand. This includes a quarterly annualized forecast of 8.6% in the second quarter and 6.4% in the third.

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Why banks should see CFOs as heroes

Accenture

When people think of bank CFOs, they might be thinking of left-brained numbers gurus who are laser-focused on core finance activities. But today’s CFOs, in banks and across industries, are doing so much more. Many CFOs are increasingly becoming architects of business value. As strategic partners to the business, they aren’t just managing financial operations—they’re….

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3 Risks Asset/Liability Management (ALM) Addresses

Abrigo

Risks ALM Addresses Will Affect Performance and Strategy Asset/liability management models and processes address credit risk, liquidity risk, and interest rate risk. . Would you like other articles on ALM in your inbox? Takeaway 1 The pandemic has shown that financial institutions deal with a variety of risks that can impact cash flow and capital. .

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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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Banks Look to Digitize Customer Onboarding

Banking Exchange

Bringing in new customers is increasingly happening online rather than in person Technology Retail Banking Financial Trends Lines of Business Payments Tech Management Branch Technology/ATMs Mobile Online Cards Feature3 Feature.

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UK housing market is on fire, warns Bank of England chief economist

TheGuardian

Continued rise stoked by tax breaks and demand from well-off households likely to deepen inequality, says Andy Haldane Britain’s housing market is “on fire” thanks to the extension of government tax breaks for homebuyers and increased demand from richer households with more savings following coronavirus lockdowns, the Bank of England’s chief economist said on Tuesday.

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Banks stand to benefit as sustainability co-stars alongside digital

Accenture

Kudos to the gurus: ten years ago, the prediction was that digital would be driving every business today. It is. However, something else has happened, too. Digital now has a co-star. Sustainability. Top billing is no longer solo: it’s a dual affair. Green Economy and Digitalization are the two pillar concepts in Europe’s Recovery Plan. That’s no…. The post Banks stand to benefit as sustainability co-stars alongside digital appeared first on Accenture Banking Blog.

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Process mining and process discovery: How they differ and shape automation strategy

BankInovation

Banks and financial institutions want to automate back-end processes but very often the conversation can get confusing right at the start. Realizing that automation adds efficiency is the first step, but figuring out what to automate first — and how — can be tricky. On a regular day at any institution, humans and software applications […].

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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.

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How a Digital Dollar Could ‘Reshape the Banking System

Banking Exchange

ABA warns of wide-ranging impacts of central bank digital currencies Risk Management Technology Feature3 Fintech Feature Financial Trends Blockchain Bitcoin Cryptocurrency.

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BauerFinancial Recognizes Popular Bank

PopularBank

Premier Rating Firm BauerFinancial Recognizes Popular Bank as a Superior Financial Institution with Five-Star Rating. New York, NY – June 9, 2021 – Popular Bank, a subsidiary of Popular, Inc. (NASDAQ: BPOP) has once again received the distinguished five-star rating from BauerFinancial. BauerFinancial has now rated Popular Bank with five-stars (Superior) for twenty-four consecutive quarters.

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Q1 2021 US credit card issuer snapshot

Accenture

Key themes Purchase volume has continued to show signs of recovery and most issuers are now reporting YoY growth for the first time in a number of; reported spend volumes at or above Q1 2020 levels; all issuers reported modest QoQ declines in spend as is typical following the holiday period Receivables growth continues to…. The post Q1 2021 US credit card issuer snapshot appeared first on Accenture Banking Blog.

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Klarna, highest-valued private fintech in Europe, rakes in $639M 

BankInovation

This week, Buy-Now-Pay-Later (BNPL) players and digital banks stayed on investor radars and valuations for companies continued to skyrocket. Other notable funding rounds included an ID verification player and a banking app looking to go public via a Special Purpose Acquisition Company (SPAC) listing. Here are the highlights of some of the more notable rounds: Klarna Klarna, one of the top BNPL fintechs, announced on Thursday a new equity funding round of $639 million, giving the company a post-m

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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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Alastair Hanton obituary

TheGuardian

Ethical banker whose innovations including direct debits and free accounts transformed financial services for the British public Alastair Hanton, who has died aged 94, was a banker and pioneer of ethical investment and fair trade, as well as a green transport campaigner. Through his innovations, he transformed the day-to-day experience of banking for ordinary British people.

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Join the Popular Virtual 5K Race

PopularBank

Popular Bank invites runners to participate in the Popular Virtual 5K race benefitting Domestic Violence Prevention Programs in New York, South Florida and Puerto Rico. Participants have until August 15th to complete the race for a chance to win select prizes. Running for a Cause. Popular Bank is proud to invite runners to participate in the 2021 Popular Virtual 5K race.

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Podcast tackles post-pandemic ATM world

ATM Marketplace

In today's episode of the ATM Marketplace podcast, Bradley Cooper, editor of ATM Marketplace, discussed how this post-pandemic world will affect ATMs and banking with Dom Hasler, global VP and head of services banking portfolio, Diebold Nixdorf.

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Citrix shifts to API-driven treasury management, taps FinLync

BankInovation

Software giant Citrix is looking to “leapfrog” typical text-file-based legacy connections by transitioning to an API-driven treasury management system, and announced today it will use a solution from API-maker FinLync to do so. Treasury management can be cumbersome given how diversified cash holding is for corporate clients, but APIs, or software gateways, allow distinct databases […].

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Addressing Top Enterprise Challenges in Generative AI with DataRobot

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.