Sat.Apr 24, 2021 - Fri.Apr 30, 2021

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SCA: Five Months to Go

Bobsguide

We’re five months away from the final regulatory deadline set by the Financial Conduct Authority for card issuers, payments firms and online retailers to implement Strong Customer Authentication (SCA). SCA is a regulatory requirement brought in to protect consumers and businesses from

Retail 88
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Tips on Building Banking Trust From One of the World’s Most Trusting Markets

Accenture

It’s hard to overstate the importance of trust in banking—which makes the findings of our latest Global Banking Consumer Study concerning for banks. The study, which interviewed 47,000 consumers around the world, revealed that the COVID-19 pandemic has accelerated what has been a longer-term decline in trust in banks. We found that 29 percent of….

Marketing 221
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3 Ways to Improve Customer Loyalty Through a Secure Digital Banking Approach

Banking Exchange

The pandemic greatly accelerated the technology shift as customers were largely unable or not willing to visit branches in-person The Economy Technology Duties Security Tech Management Mobile Online Operational Risk Feature3 Feature.

Security 117
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OCC Releases Community Reinvestment Act (CRA) Evaluations

Perficient

The Office of the Comptroller of the Currency (OCC) has released 15 Community Reinvestment Act (CRA) performance evaluations. These evaluations are based on on-site examinations by OCC-trained staff. On-site examinations are done every other year. Reviews, which can take weeks, assess an institution’s performance in helping to meet the credit needs of communities, including those of low or moderate income within its assessment area.

Community 294
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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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Rebeca Romero Rainey: Lead with purpose

Independent Banker

Photo by Robert Severi. Our approach to service is not about checking something off the list for today. It’s about making incremental positive change over time. In today’s world, it’s more important than ever for businesses to lead with purpose. Consumers are demanding it from the companies with which they do business—so much so that in its Retail Trends 2021 list, Deloitte said it expects purpose to be as disruptive in the next 10 years as digital has been in the past 10.

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CFPB Delays Mandatory Compliance Date of New General Qualified Mortgage Rule

CFPB Monitor

The CFPB recently issued a final rule delaying the mandatory compliance date for the new general qualified mortgage (QM) rule based on an annual percentage rate (APR) limit from July 1, 2021 to October 1, 2022. The final rule is effective on June 30, 2021. The CFPB also issued an executive summary of the final rule. In December 2020, the CFPB issued the new general QM rule to replace the original general QM rule based on a strict 43% debt-to-income (DTI) ratio.

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Market Commentary: Week of April 26, 2021

SWBC's LenderHub

Last Week. It was quite a volatile week for stocks as the markets swung between euphoria and fear. Continued strong economic data and bullish first quarter corporate earnings provided the bid for equities and corporate bonds. However, the Biden White House’s proposal for a sharp increase in Long-Term Capital Gains tax and uneasiness about a sharp rise in COVID cases, hospitalizations, and deaths—particularly in India—stoked fears that global trade will be handicapped.

Marketing 148
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How Financial Services Can Thrive After COVID-19

Banking Exchange

Brands across all industries need to be prepared for what comes next, especially when it comes to customer experience (CX) Retail Banking Risk Management Feature Financial Trends Lines of Business Feature3 Covid19.

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Why an operations revolution is an urgent imperative for banks

Accenture

UK banks have been striving for years to reduce their cost base. Yet despite these efforts, downward pressure on revenue is continuing to squeeze profitability. Now the fallout from COVID-19 – including widespread uncertainty and an economic downturn – is set to make revenue growth even harder to achieve. The effect is to put banks’…. The post Why an operations revolution is an urgent imperative for banks appeared first on Accenture Banking Blog.

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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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Eleventh Circuit Overturns Landmark Accessibility Decision in Winn-Dixie, Determines Certain Websites Are Not “Public Accommodations” Covered by Title III of the ADA

CFPB Monitor

On April 7, 2021, the Eleventh Circuit Court of Appeals ruled that Winn-Dixie Stores’ websites are not “public accommodations” and therefore are not subject to the accessibility requirements of Title III of the Americans with Disabilities Act (“ADA”). The decision reversed a 2017 federal district court opinion – in what may be the only website accessibility case to ever go to trial – that required the grocery store chain to make its website accessible to individuals with visual disabilities.

Alabama 147
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How digital integrity and transformation empower retail banks against emerging competitors

Bobsguide

Retail banks have found themselves at the centre of the digital disruption shaking financial services. As well as direct competition from challenger and neobanks entering the sector, they also have to contend with the likes of Facebook, Amazon and Google and their peers looking to expand their.

Retail 139
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The customer experience: How the pandemic changed e-commerce

ATM Marketplace

The pandemic changed how customers viewed shopping and spending. But as the world moves into post-pandemic, retailers are concerned with creating a positive customer experience. Rafael Lourenco, executive vice president at ClearSale shares his thoughts on ways to improve the customer experience.

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How banks can resist commoditization in a digital world

Accenture

In this series we’ve looked at a range of important subjects for banks looking to grow and gain competitive advantage in 2021. All are connected to Accenture’s latest Global Banking Consumer Study. But in every post we have encountered, in one way or another, the same challenges and questions. If a post-pandemic world is also…. The post How banks can resist commoditization in a digital world appeared first on Accenture Banking Blog.

Study 312
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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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Decomposing changes in the functioning of the sterling repo market from 2014 to 2018

BankUnderground

Rupal Patel. Repo markets form part of the plumbing of the financial system. They allow participants to borrow cash against collateral and buy back this collateral at a higher price at the end of the transaction. When there is a blockage in repo it has repercussions on financial markets. Since 2014 there have been significant changes in repo functioning, causing policymakers to question why these changes are happening and what it means for financial stability.

Marketing 106
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Tech giants risk squeezing out banks, French watchdog warns

Payments Source

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3 Tips for Creating a Fraud Education Strategy That Fits Your Brand

Jack Henry

It may seem strange for you to put a spotlight on the notion that digital banking can be a prime target for scammers and fraudsters, but you should. Because while talking about fraud and scams with your accountholders may seem awkward or alarming (after all, banks and credit unions are the most secure places for people to manage their money), highlighting the reality of fraud puts your brand in a position of advocacy.

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Banking’s cloud imperative: Succeeding in an altered landscape

Accenture

This series of blogs look at the future of banking in Growth Markets in a post-COVID-19 world. Although Asia-Pacific banks have outperformed global peers in recent years, they’re dealing today with challenges including an uncertain economy, under-pressure balance sheets, competition from digital attackers, declining cost-income ratios and a low interest-rate environment.

Marketing 307
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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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CFPB issues interim rule applicable to FDCPA debt collectors seeking to evict tenants for non-payment of rent

CFPB Monitor

The CFPB has issued an interim final rule that requires “debt collectors” as defined under the FDCPA who seek to evict tenants for non-payment of rent to provide written notice to tenants of their rights under the Centers for Disease Control and Prevention (CDC) Order that establishes an eviction moratorium. The interim rule also prohibits FDCPA debt collectors from misrepresenting tenants’ eligibility for protection from eviction under the moratorium.

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UK to come under scrutiny in Italy’s largest mafia trial in decades

TheGuardian

Witnesses will be asked to respond to claims the ’Ndrangheta has laundered billions of euros in City of London In a high-security, 1,000-capacity courtroom converted from a call centre, Italy’s largest mafia trial in three decades is under way in Lamezia Terme, Calabria. About 900 witnesses are set to testify against more than 350 defendants, including politicians and officials charged with being members of the ’Ndrangheta, Italy’s most powerful criminal group.

Groups 101
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Chase builds out digital and product leadership team, Citi hires new compliance chief

BankInovation

This month saw investment in digital leadership and compliance, as C-suite positions were filled with new faces at JPMorgan Chase, Citi and Independent Financial, as well as at MoneyGram and Fiserv. Notable hires from April include: Chase grows its consumer and community banking digital and product leadership team JPMorgan Chase brought three new recruits into […].

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One-Year Anniversary of Reg D Change - Impact to Savings Accounts

BankDeals

One year after the Fed announced the Reg D change, I thought it would be interesting to review the latest policies of a few popular banks and credit unions.

Policies 101
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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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One of America's oldest wine sellers starts taking crypto

Payments Source

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UK heading for biggest economic boom since 1948 – Barclays chief

TheGuardian

Jes Staley says bank continues to take ‘cautious view’ of impact of Covid-19 pandemic Coronavirus – latest updates See all our coronavirus coverage The UK economy is on course for its biggest economic boom since 1948 as the country’s coronavirus vaccination programme allows consumers to go out and spend, according to the chief executive of Barclays.

Course 99
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Citizens Bank and Trust banks on Fiserv and APIs  

BankInovation

Alabama’s Citizens Bank and Trust is upgrading its core account processing platform to offer real-time payments and better automate with the help of third-party providers — a move that more banks may pursue, given Fiserv’s first-quarter earnings report of increased sales today. The $700 million community bank is pivoting to Fiserv’s DNA core, which uses […].

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FTC settles claims alleging merchant cash advance providers engaged in unfair and deceptive practices

CFPB Monitor

The Federal Trade Commission recently announced that it has settled the lawsuit it filed against Yellowstone Capital LLC, a provider of merchant cash advances, and its chief executive officer and president for alleged unfair and deceptive conduct in violation of section 5 of the FTC Act, 15 U.S.C. § 45. In its Complaint, the FTC alleged that the defendants engaged in deceptive acts or practices by (1) representing that they did not require collateral or personal guarantees from business owners w

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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.