Sat.Dec 26, 2020 - Fri.Jan 01, 2021

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Predictions for 2021: The World is a Digital Place

Payments Dive

2020 was a difficult year in many aspects, but it also challenged the payments industry to find new solutions to work through the limitations of the pandemic. Seth Brennan, CEO of North Lane Technologies, a payments industry veteran, shares his thoughts on the year ahead

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Banks Get Smart on Fintech

ABA Community Banking

What venture capital sees when it surveys the bank tech landscape. The post Banks Get Smart on Fintech appeared first on ABA Banking Journal.

Fintech 140
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Contextual Banking Awaits Its Star Turn

PYMNTS

As treasury management becomes increasingly digital, a bank’s corporate banking clients face challenges when it comes to modernizing treasury workflows. Ideally, they need to change existing ecosystems without giving rise to a major IT project. To that end, as Lisa Shields , CEO of FISPAN , told Karen Webster, contextual business banking, with service embedded within enterprise resource planning (ERP) and business banking, is ready to take off.

System 243
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Were online customers more satisfied during the COVID-19 pandemic?

Perficient

The COVID-19 pandemic stressed everyone in 2020. Many of our clients had prepared their digital businesses ahead of time and survived. Other companies who were late to creating digital customer experiences suffered as people stayed away from traditional stores and shopped online. But even the best companies struggled to keep customer satisfaction levels high during 2020.

Online 421
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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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3 Payments Trends to Watch in 2021

Payments Dive

As 2021 rapidly approaches, many of us are hoping for better days after the whirlwind year of 2020. While COVID-19 has certainly had an impact on every industry, certain trends that began in 2019 continued to develop in 2020, and some of them may even blossom fully in 2021

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Inside The Mind Of The Digital-First Consumer

PYMNTS

The consumers who shopped for anything from groceries to sporting goods to cars in December of 2019 are completely different from the ones who shop today. Not only have they been stung by an unprecedented pandemic and consequential lockdown, they've been made aware of – and have started using – different ways to conduct their shopping journeys, pay for their goods and even take possession of them.

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Should I upgrade my Drupal site?

Perficient

Organizations leveraging Drupal need to consider the ongoing maintenance and upgrades required to keep Drupal secure and enable your authors with new features and modules. Patching Drupal to prevent vulnerabilities. Regardless of the major version of Drupal, it’s important to continue to quickly apply patches associated with security bulletins.

Community 340
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5 Ways Payment Data Can Change How Financial Institutions Serve their Customers and Members

Jack Henry

The use of artificial intelligence (AI) and machine learning (ML) might seem like a space-age concept to some. But today these types of advanced data analytics are being used successfully to enhance the user experience, encourage engagement, drive revenue, increase sales, and fight fraud. A large majority (66%) of financial institutions (FIs) believe technologies such as AI, ML, blockchain, and the Internet of Things (IoT) will have a significant impact on the banking sector.

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What happens to Alipay as China dismantles Jack Ma’s financial empire?

Payments Source

When the Chinese banking authorities finish reshaping Jack Ma’s empire, the only thing he may have left is Alipay — which would still be the world’s most popular mobile and online payments app.

Mobile 162
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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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Central Bank Of Russia: Electronic Money Could Render SWIFT Obsolete

PYMNTS

Digital currencies could render the SWIFT global payments network unnecessary, RT.com reported, citing the Central Bank of Russia (CBR). Olga Skorobogatova, first deputy governor of the CBR, said 30 countries are working on their own national digital currencies, some of which could launch in five to seven years. According to the Bank for International Settlements (BIS), as of July, some 36 central banks published studies on the concept of a central bank digital currency (CBDC) also known as a di

National 356
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Do you use “Composite form” or “runBusinessRule” in your Oracle cloud application ?

Perficient

Oracle’s support for composite forms will be stopped from May 2021 according to oracle’s update for future. There are dashboard features that you can take advantage of to convert your composite forms sooner than later. And also if you are executing rulesets using Automate command “runBusinessRule” – you may want to explore “runRuleset” command as applicable before May 2021.

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2021: Hello innovation

ATM Marketplace

For almost the entire year I have been editor of this publication, the news sources we work with have reported on several ATM thefts happening daily across the country. The odd thing is many aren't just stealing from ATMs they are also stealing the actual machine. Editor Pat Shea shares her thoughts on this topic.

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Where Blackhawk landed in 2020

Payments Source

Michael Moeser, senior analyst at PaymentsSource, talks to Jennifer Philo, group vice president of U.S. commerce at Blackhawk Network, about the ways the global pandemic has transformed the use cases for gift cards, prepaid cards and loyalty products the company supports.

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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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Big Tech Faces Regulation Reckoning As 2021 Dawns

PYMNTS

If 2020 was the year of streaming media, of content done a million different ways, of apps and Apple, and Google’s and Amazon’s algorithms … it was also the year of Big Tech regulation, where 2020 set the stage for a 2021 that could be seismic in changing the way companies — from Facebook to Apple to debt collectors — interact with consumers. Starting with some of the most recent changes — and a sign of what’s to come — earlier in the month, the European Commission offered up its initial draft o

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Making a December Difference One Dollar at a Time

Perficient

The season of giving is in full swing, and Perficient employees around the world are participating in unique and impactful ways. A group of colleagues in our Chicago office came together throughout December to donate to and support the Greater Chicago Food Depository in the spirit of Perficient’s Make a December Difference Campaign. The impact they made through this simple act is significant, and their passion for giving to others in this time of hardship is inspiring.

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CFPB settles with New Jersey debt buyer for alleged FDCPA and CFPA violations based on unlicensed collection activity

CFPB Monitor

Earlier this month, the Consumer Financial Protection Bureau issued a consent order against a New Jersey debt buyer accused of threatening and suing consumers to collect debts in states where it did not have a legally required license. Specifically, the Bureau alleged that RAB Performance Recoveries, LLC’s (RAB) purchased consumer debt accounts from debt brokers and placed the accounts for collection with collections law firms in the states where the consumers were located.

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11 fintech M&A deals that defined 2020

Payments Source

The year 2020 was disruptive and chaotic. And while it derailed or delayed some companies' plans for growth, it also created opportunities for new combinations — or, at the very least, didn't slow them down.

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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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Are Smart Cities Still A Smart Bet Amid ‘Urban Flight’ And The Pandemic?

PYMNTS

The pandemic has pressured corporate top lines — and as a result, leaves less money to go around to fund innovation, especially for tech-focused firms. So-called “smart-city” initiatives might be a casualty, especially if it’s perceived that people are leaving urban areas for the ‘burbs. In other words, to mangle a line from “Field of Dreams”: “Why build it if they won’t come?”.

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Achieving Data Copy Functionality in “Planning in Oracle EPM Cloud” ASO Reporting Cube

Perficient

It is standard practice to use the DATA COPY function to copy actuals for the current and previous months to forecast in BSO cubes to support the forecasting for the business FP&A departments. When it comes to ASO cubes it’s a little bit challenging with the combination of MaxL script to invoke a calc script to provide the same functionality.

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Banking"s Top 5 Total Return to Shareholders: 2020 Edition

Jeff For Banks

For the past nine years I searched for the Top 5 financial institutions in five-year total return to shareholders because I support long-term strategic decision making that may not benefit next quarter's or even next year's earnings. And I am weary of the persistent "get big or get out" mentality of many industry pundits. If their platitudes about scale are correct, then the largest FIs should logically demonstrate better shareholder returns, right?

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Consumers more confident about paying card bills in full

Payments Source

Nearly 70% of consumers surveyed said they were confident in their ability to pay their full monthly statement in December, up 5 percentage points from November, according to monthly data from the online lending marketplace LendingTree.

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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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Square Said To Mull Buy of Jay-Z’s TIDAL Music-Streaming Service

PYMNTS

The highly competitive streaming-audio industry could be starting the New Year with some consolidation, a new report suggests. Jack Dorsey — the billionaire CEO of Square and Twitter — is said to be interested in buying TIDAL , the audio service owned by billionaire music legend Jay-Z. Unnamed sources told Bloomberg that the outspoken Dorsey has been seen with Jay-Z and his singer-wife Beyonce recently, and is reportedly interested in adding a music feature to payment platform Square’s growin

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Selecting Tools for Mobile Application Testing!

Perficient

Today, with several mobile apps out there, the app ratings and reviews conjointly play a very important role for an end user in downloading the mobile apps. Hence, it’s primarily vital that the mobile app automation testing ought to be done throughout the mobile app development phase to confirm the app is absolutely tested with effective mobile automation testing tools.

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My top ten books in 2020

Lars Markull

Initially I was planning to write a longer 2020 personal recap, but after an exhausting year (for all of us), I am keeping it short. The year had many ups and downs for me personally, and specifically the first lockdown in Germany was particularly tough for me. Luckily the summer gave some time to reflect and recharge, and thus, I am able to cope a lot better with the second/current lockdown.

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In the bank/fintech battle, challenger banks make their own luck

Payments Source

There's a wide open market with plenty of opportunity not just for challenger banks but for financial technology as an industry to set themselves apart from incumbents and gain market share, says Veem's Marwan Forzley.

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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.