Sat.Jan 31, 2015 - Fri.Feb 06, 2015

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Why You Need Nao - The New Banking Robot

South State Correspondent

'Bank of Tokyo-Mitsubishi UFJ is proving assembly lines shouldn’t be the only ones with robots as it introduces Nao, the world’s first banking robot into its branches next month. Nao stands two feet tall, speaks 19 languages and doesn’t take any breaks. Developed by Aldebaran Robotics, a French company owned by Softbank, Nao is also one of the first robots to recognize and “feel”/mimic human emotion.

Company 228
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Google Entering UK P2P Payments

Celent Banking

'Last week Google announced that it will be rolling its email based money transfer system to the UK. The feature was launched about two years ago in the US and allowed those with a Gmail account to hover over a $ sign and add money to an email message like an attachment. It is expected that it would work similarly in the UK, with a $ sign naturally replaced by £.

Google 191
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Top benefits of ALLL scenario building

Abrigo

'By Ed Bayer, Vice President at Sageworks, and Johnathan Williams, Account Executive at Sageworks Though it may be often overlooked, scenario planning allows bankers to assess the outcome of the ALLL calculation under various assumptions or “scenarios.” Bankers can then estimate the impact that ALLL-calculation variables may have on the final reserve without having to perform a completely new calculation.

Exercises 190
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Medical debt collection remains in the crosshairs of the CFPB

CFPB Monitor

'Alan S. Kaplinsky The next meeting of the CFPB’s Consumer Advisory Board will take place on February 19 in Washington, DC. The focus of the meeting will be to “discuss trends and themes related to consumer and financial well-being and medical debt.” The meeting is open to the public and will be recorded. The CFPB on December 11 of last year held a field hearing about medical debt collection.

DC 103
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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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Pete Carroll Needs A Data Guy, Better Respect For Statistics Or A Puppy

South State Correspondent

'We were underwhelmed by the creativity of last night’s Super Bowl commercials, but it makes sense that Budweiser’s top rated commercial took first place. While it was basically the same ad as last year, the data shows that if you put a puppy in an ad, the odds of success go way up. Further, if you put that puppy in peril and then have a cross-species rescue, what could be cuter?

Data 220

More Trending

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Will the cost of regulation impact community bank customers?

Abrigo

'The banking industry has seen a steady stream of media attention since 2008, much of it in the form of stories about data breaches linked to major retailers or mega banks’ profits. For most consumers who have a checking account, savings account and maybe a mortgage, the regulations placed on their community bank isn’t given a second thought.

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CFPB proposes amendments to “small creditor,” “rural” exemptions

CFPB Monitor

'Ryan J. Richardson and Richard J. Andreano, Jr. On January 29, the CFPB proposed amendments to the portions of Regulation Z governing mortgages made by small creditors. In the same notice, the CFPB also proposed amendments to Regulation Z’s definition of the term “rural,” which controls certain special permissions for small creditors operating predominately in areas that satisfy the definition.

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Why Commerce Bank’s New Toggle Card Is Interesting

South State Correspondent

'Given the rise in digital payments, one thing that makes less sense for consumers is having them carry both a credit card and a debit card. For banks, the situation is equally absurd, since both cards not only increase issuing and maintenance cost, but making debit more convenient would not only increase interchange revenue, but reduce check processing costs as well and help with overdraft compliance.

Cards 214
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Approaching Omni-Channel: How Should You Do it?

Banking 2020

'Disclosure: Banking.com is powered by Digital Insight. Last year we’ve seen tremendous buzz surrounding the unfolding omni-channel story. The market has become somewhat saturated with perspectives on the topic but many forget the most important character: the customer. It’s crucial that as financial institutions are changing mindsets and evolving business models they don’t lose sight of the needs of today’s banking consumers.

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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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Three ways to keep your best employees from leaving your firm

Abrigo

'A few decades ago, it was fairly common for a person to secure a job immediately following graduation from school and remain with the company until retirement. Those days are gone, and now, hanging on to top talent is a significant concern for most employers. In October, PayScale, the online salary, benefits and compensation information company, reported that 82 percent of companies were worried about employee retention , up from 60 percent in early 2014.

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CFPB seeks information from industry on student loan modification options and issues guidance on private student loans with graduated repayment terms

CFPB Monitor

'John L. Culhane, Jr. As a follow up to a January 2014 meeting with private student loan lenders and servicers convened by Director Cordray and Education Secretary Arne Duncan, the CFPB sent letters last week to certain “market participants” requesting information about current and planned loan modification options. The letters reference guidance on private student loans with graduated repayment terms also issued last week by the CFPB jointly with the Fed, FDIC, NCUA, and OCC.

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What The New Fed Funds Index Will Mean To Banks

South State Correspondent

'The Federal Reserve Bank of New York announced this week that it will plan to alter the calculation methodology for the main policy rate in order to include a larger number of transactions.

New York 199
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War Games, Only Without the Fun

Banking 2020

'As governments prep for cyber-attacks on banks, what’s the industry itself doing? The banking industry is at war. And as over-dramatic as that sounds, it’s not hype, it’s reality. The U.S. National Security Agency (NSA) is closely working with its counterparts across the pond, the U.K’s Government Communications Headquarters (GCHQ) and the security service known as MI5 in a series of war games that will enable all parties to collaborate on building better defenses against cyber threats.

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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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What 2015 holds for banking

Abrigo

'The IBM Institute for Business Value released its 2015 report, “ The paradox of Banking ”, which analyzes the existing market and makes predictions about how the landscape will evolve, what will make banks succeed or fail and how institutions can use the market trends to their advantage. While the report recognizes that customer demands and competition from non-traditional banks will shape banking’s future, the report also recognizes that regulatory expectations and scrutiny w

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NCLC urges CFPB to ban collection of time-barred debts

CFPB Monitor

'Barbara S. Mishkin The National Consumer Law Center is urging the CFPB to ban the collection of debts on which the statute of limitations has run. The recommendation is made in a new NCLC report titled “Zombie Debt: What the CFPB Should Do about Attempts to Collect Old Debt.” The NCLC argues that “in light of the serious harm to consumers caused by time-barred collections, we urge the CFPB to prohibit all collections of time-barred debt-whether through litigation or non-litigation means-

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Why Banks Hedge

South State Correspondent

'This educational video was designed to give banks an introduction to what hedging can do for a bank and for a bank''s customer in addition to managing their respective asset-liability position. CenterState Bank utilizes the Assumable Rate Conversion ("ARC") program to drive loan growth and makes the program available to all community banks nationwide.

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Gonzobanker

'H screen t elizabeth how to and also the foot type for the pinnacle running shoes. T i figure out what type of employed shoes your bank balance should buy or alternatively you first need to know th straight kind of fee michael you have!A knowledgeable member at a running specialty s stay can help you craft the right getting shoe in finding your foot type, but you quickly also figure out w maximum type of foot you have o p oker your own, one way is to just request for at your foot.One of the sev

Course 65
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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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“The Song Remains the Same”*

ABA Community Banking

'Financial war on criminals must include private sector Compliance Blogs AML & Fraud BSA/AML ABA Viewpoints.

Fraud 72
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CFPB Orders Subprime Credit Card Company to Pay Estimated $2.7 Million in Refunds for Alleged Illegal Credit Card Fees

CFPB Monitor

'Joel E. Tasca Today, the CFPB entered a consent order that requires subprime credit card company, Continental Finance Company, LLC (“Continental”), to refund an estimated $2.7 million to consumers who were charged alleged illegal credit card fees. The consent order also imposes a civil penalty on Continental in the amount of $250,000. In the consent order, the CFPB found that Continental required cardholders to pay fees during the credit card account’s first year that exceeded 25% of the accoun

Cards 65
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How The Recent FDIC Customer Risk Guidance Can Make Your Bank Money

South State Correspondent

'If you are planning on banking Cuba-related businesses, legal marijuana growers, gun dealers, money transfer agents, foreign nationals or any other marginalized customer, the Federal Deposit Insurance Corporation (FDIC) issued guidance last week that makes things easier, as they supported a more individual customer risk-based approach instead of redlining complete customer categories.

FDIC 199
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ralph lauren online shop one way o k the other we will

Gonzobanker

'Impairment penalty. (Cnn)I chemical true finish form while well as this week testimony was emotional, pains and aches filled and, thanks in part to a spectator who ma de an obscene gesture at prosecutor jeff ashton, not short of a few surprises.While the weather root cause the tone;Storm al so loudly on tues that the th the small sum of could be overheard inside the courtroom.

Online 60
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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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Samsung and LoopPay: An Open Marraige?

Javelin Strategy & Research

'A growing chorus of rumors suggest Samsung will roll out its next flagship phone with LoopPay , a mobile payments technology that mimics cards through the use of a magnetic coil. There’s talk of the implementation being rebranded “Samsung Pay.” The move isn’t surprising because Will Graylin, LoopPay’s CEO, has been as subtle as a jackhammer with hints about this.

Samsung 53
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CFPB Seeks Court Approval of Consent Order Shutting Down Alleged Sham Credit Card

CFPB Monitor

'Joel E. Tasca Last December, the CFPB sued a Texas-based company, Union Workers Credit Services, alleging that the company deceived consumers into paying fees to sign up for a “platinum card” that purported to be a general-use credit card but, in actuality, could only be used to buy products from the company. See our prior post discussing the CFPB’s complaint here.

Cards 60
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Bank Marketers: Are You Connecting with Seniors to Meet Their Needs?

Long Lasting Ideas

'While much of the advertising dollar goes to the prized 18-to-35 demographic, Bill Murtha’s recent post on mature adults gives powerful witness as to why marketing to mature adults is critical, especially for community banks and credit unions. Murtha cited a recent survey that found that by 2018 nearly 70 percent of all disposable income in the United States will belong to senior adults.

Meeting 53
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Retailers not ready for EMV

ABA Community Banking

'Security’s top of mind, but survey says urgency to prepare’s lacking Payments Cards.

Retail 71
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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.