Sat.Apr 20, 2024 - Fri.Apr 26, 2024

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From Spreadsheet Chaos to Data Strategy Triumph with Perficient

Perficient

Uncovering the Challenge: Relying on Spreadsheets for Portfolio Analysis A leading wealth and asset management firm recently sought our financial services expertise for a critical challenge. Relying on complex spreadsheets for portfolio analysis, the firm faced operational hurdles due to immense computing demands. The Perficient Approach: Transforming Operations through Strategic Consulting Our team embraced the challenge, conducting a meticulous two-week analysis to uncover the root issue: a cu

Strategy 440
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3 Technology Predictions from the Magic 8 Ball

Jack Henry

The Magic 8 Ball might be the easiest fortune-telling device available. You simply ask it a question, shake it, then read its response through the little window.

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Why financial institutions should embrace ISO 20022

Payments Dive

Adopting ISO 20022 payment standards can help U.S. banks and credit unions unlock richer data and stay competitive in the global financial marketplace.

Data 397
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Small business lending insights Vol. 1

Abrigo

Recent data and trends of the small business lending market SMB Lending Insights is a snapshot of current financial trends and metrics that impact small and medium-sized business (SMB) lending and financial institutions. You might also like this guide for smarter, faster small business lending. DOWNLOAD Takeaway 1 SMBs and financial institutions face tremendous uncertainty in the current environment, which is characterized by elevated interest rates, high inflation, and growing personal de

Lending 221
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Live Demo: How to Achieve Reconciliation Zen

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Automation generally supercharges any process and brings its value to the forefront. See how infusing automation such as ART (our month-end close solution), into your close can get you to the next level of closing. We will share a live demo of SkyStem's solution, ART and share the key elements of month-end close automation. Through ART, we'll take a look at: What month-end close automation entails Which process steps can and should be automated Benefits of achieving process automation, and Why i

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How Bank of America approaches innovation

BankInovation

Bank of America’s innovation is never complete since its team constantly updates offerings to meet ever-changing client needs. “At Bank of America, innovation is everybody’s job,” Jorge Camargo, managing director of mobile app, online banking and Erica AI at Bank of America, told Bank Automation News.

America 69

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Fed seeks 8,000 financial institutions for FedNow

Payments Dive

About 700 financial institutions have connected to the Fed’s instant payment network since last July, with at least 1,000 more in the pipeline, a FedNow official said this week.

Payments 505
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The Holy Quest for CRM in Anytown, USA

Gonzobanker

Once upon a time, First Southern Farmers, Merchants & Community Bank & Trust (or FSFMCBT, for short), a community bank in Anytown, USA, was renowned for its neighborly charm. When Calvin DoRight founded the bank in 1948, delivering exceptional customer service was his dream. Fast forward to modern times, when Thomas B. DoRight, Calvin’s son and present-day CEO, realized that the bank’s growth across counties, states and lines of business had made managing relationships much more involved

System 134
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Quantifying the macroeconomic impact of geopolitical risk

BankUnderground

Julian Reynolds Policymakers and market participants consistently cite geopolitical developments as a key risk to the global economy and financial system. But how can one quantify the potential macroeconomic effects of these developments? Applying local projections to a popular metric of geopolitical risk, I show that geopolitical risk weighs on GDP in the central case and increases the severity of adverse outcomes.

Policies 107
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SBA Loan for Assisted Living That Finances Your Dream Facility

Commercial Lending USA

An SBA loan for assisted living could help you reach your goal of giving seniors the best care possible. According to the U.S. Administration for Community Living, the U.S.

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New York Lien Law Essentials: 5 Key Facts for Commercial Lenders

Dive into the complexities of New York lien laws with our comprehensive eBook, 'New York Lien Law Essentials: 5 Key Facts for Commercial Lenders.' In this detailed guide, we explore the critical formalities necessary for lenders navigating ground-up construction and fix-and-flip projects in the New York market. From documentation requirements to the implications of non-compliance, learn how to safeguard your lending position and prioritize legal adherence.

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Fed courts nonbanks for FedNow growth

Payments Dive

The Federal Reserve is stressing the importance of fintechs and core providers for the future expansion of its new instant payments system FedNow.

Fintech 476
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Why Texas has its own account with the Federal Reserve

American Banker

The state's comptroller of public accounts is one of several notable non-depositories with access to the Fed's payments system, along with the Chicago Mercantile Exchange and the Tennessee Valley Authority. So why do they have accounts while some neobanks don't?

Tennessee 101
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The Guardian view on globalisation’s discontent: it’s not right for poor countries to fund the rich | Editorial

TheGuardian

Wealthy nations exploit their position as the world’s bankers to siphon off hundreds of billions from the needy Developing nations have long complained that globalisation has enthroned western currencies in such a way as to subsidise living standards in the rich world. Last year , Brazil, Russia, India, China and South Africa – the Brics – even talked of an alternative common currency to replace the dollar.

National 100
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Personal Finance Fails (and How to Fix Them)

BankBazaar

Let’s face it, talking about money isn’t always sunshine and rainbows. We all dream of financial freedom, but the road there can be paved with some pretty epic stumbles. From the infamous “bottomless cocktail brunch” every Sunday that mysteriously drained your savings account to the “surely-I’ll-win-the-lottery” mentality, personal finance fails are a universal experience.

How To 78
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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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Walmart removes self-checkout from select stores

Payments Dive

The retailer joins Target, Dollar General and other chains in recalibrating a reliance on self-service, and rethinking the whole checkout experience.

Retail 435
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Synchrony hikes interest rates on credit cards to offset late-fee rule

American Banker

The store-branded card issuer is raising annual percentage rates and adding fees for paper statements to compensate for lost revenue. The Consumer Financial Protection Bureau's new regulation is scheduled to take effect on May 14.

Cards 97
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Barclays accused of greenwashing over financing for Italian oil company

TheGuardian

Exclusive: Environmental groups say bank is misleading public over ‘sustainable’ financing for Eni as company vastly expands fossil fuel production Barclays is being accused by environmental groups of greenwashing after helping to arrange €4bn (£3.4bn) in financing for the Italian oil company Eni in a way that allows them to qualify towards its $1tn sustainable financing goal.

Company 92
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Where are bank branches headed?

ATM Marketplace

Bank branches are decreasing in number across the U.S., but this trend doesn't tell the entire story.

Trends 111
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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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Visa debit card volume growth keeps sliding

Payments Dive

The card network behemoth’s latest earnings report showed a contraction in card volume growth during the first three months of the year, and into April.

Cards 386
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Republic First fails; Fulton Bank acquires assets, branches

American Banker

The Philadelphia-based bank's parent company, Republic First Bancshares, had been roiled by a yearslong proxy battle involving activist investors groups and its former CEO.

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UK bankers warned of ‘severe losses’ if they fail to monitor private equity exposures

TheGuardian

Bank of England executive says creeping sense of complacency and lack of data is putting lenders at risk UK banks are leaving themselves open to “severe, unexpected losses”, by failing to properly measure how exposed they are to the $8tn private equity industry, the Bank of England has warned. In a speech on Tuesday, Rebecca Jackson, a senior executive at the central bank, said there was a “creeping sense of complacency” among lenders, who – despite a boom in loans and financing to the sector –

Data 83
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Experience innovation at the Bank Customer Experience Summit

ATM Marketplace

The Bank Customer Experience Summit 2024's first early bird deadline is coming up on May 3rd.

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Thinking About How To Lessen Your Burden During Month-End Close? Skystem Can Help!

Most people dread the nearing of the month-end close and reconciliation process, and who can blame them? It's typically a tedious, long, stressful process; but it doesn't have to be. Implementing automation into your month-end process can significantly reduce this headache by automating up to 40% of your reconciliation and saving nearly 30% of your time spent.

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Walmart offers a new BNPL option: report

Payments Dive

The fintech One now offers buy now, pay later financing at the store chain, presenting competition for Affirm, which has partnered with the retail giant since 2019.

Report 370
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Anchorage Digital debuts crypto settlement network

American Banker

The San Francisco-based firm's Anchorage Digital Trusted Liquidity and Settlement network, better known as Atlas, will allow clients to settle a range of cryptocurrency transactions.

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Lloyds Bank’s operating costs up 11% YoY

BankInovation

Lloyds Bank reported an increase in operating costs in the first quarter driven by higher inflation and increased investment in technology. “Cost management remains a core discipline for us as a group,” Chief Financial Officer William Chalmers said during the bank’s earnings call today.

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Paysera integrates real estate investments via InRento

The Paypers

Lithuania-based fintech Paysera has incorporated in its app the ability to directly invest in crowdfunded real estate rental projects on the InRento platform.

Fintech 78
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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