Sat.Jul 09, 2022 - Fri.Jul 15, 2022

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5 Lessons We Learned Using AI for Bank Email Marketing

South State Correspondent

Email is one of the most effective bank marketing channels available. Most banks send emails with little regard to optimization – they create an email, then send it. Other banks, like ourselves previously, pour over countless amounts of data to optimize open rates, clicks, and conversions. Now, it is about personalization and using artificial intelligence (AI) to guide the effort.

Marketing 195
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How can banks make online bill payments cool again?

Accenture

As the 21st century began, banks revolutionized bill payments by introducing online bill pay. Customers could finally ditch their check books and stop licking stamps. They simply had to log on, enter their biller information and make payments electronically. Customers loved the convenience of paying their bills in one centralized place, banks created more loyal….

Online 412
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FedNow chases real-time payments front-runners

Payments Dive

The Federal Reserve plans to unleash a U.S. real-time payments system next year in the form of FedNow, but it’s an open question as to whether, or how, consumers and businesses will adopt instant payments.

Payments 518
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Pass Microsoft Certified Power BI Data Analyst Exam | PL-300

Perficient

I will be sharing my personal experience with learning Power BI and clearing the PL-300 (Earlier called DA-100) exam. I hope this will help the other aspirants. I would not be compromising the signed NDA; hence no questions will be disclosed in this article. About the Exam : PL-300: Microsoft Power BI Data Analyst. Analyzing Data with Microsoft Power BI (PL-300) is the requirement for Microsoft Data Analyst Associate Certification.

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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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Examining Bond Portfolio Trends: Second Quarter 2022

South State Correspondent

Examining Bond Portfolio Trends: Second Quarter 2022. Beginning in May 2012, we started tracking portfolio trends of our bond accounting customers here at the Correspondent Division of SouthState Bank. At present, we account for over 130 client portfolios with a combined book value of $13.5 billion (not including SouthState Bank), or $104 million on average per portfolio.

Trends 195

More Trending

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Zip ditches Sezzle BNPL buyout

Payments Dive

The Australian company will pay $11 million to Sezzle after it dropped a plan to purchase the Minneapolis-based company in the face of “macroeconomic and market conditions.

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Young Consumers Love to “Buy Now, Pay Later” – Here’s What to Know About the Explosive Fintech Trend

Perficient

Buy now, pay later (BNPL) is a type of point-of-sale installment loan that partners with retailers to allow consumers to pay for their purchases in multiple equal payments. One could consider it the “layaway of the digital age,” except unlike with layaway, the consumer does not have to pay in full before taking their purchase home, using the service, obtaining the tickets to an event or destination, etc., which is a huge draw to using BNPL as a non-cash payment method.

Fintech 474
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Once Again, CPI Hotter Than Expected

South State Correspondent

Once Again, CPI Hotter Than Expected. Once again CPI disappointed markets with a hotter-than-expected read and that has sent Treasury yields higher once again. The overall inflation rate rose 1.3% for the month which was above the 1.0% increase in May and higher than the 1.1% expected. The 1.3% is a new cycle high. The increase was broad-based but gas (11.2%), food (1.3%), and shelter prices (0.6%) were the primary culprits.

Marketing 195
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Self-service banking to feature front and center at Bank Customer Experience Summit

ATM Marketplace

Self-service banking will be a major topic at the upcoming Bank Customer Experience Summit, being held in Chicago from Aug. 31 to Sept 1. In fact, an entire panel, entitled "Self-service Strategies for Success," will address the technology in detail.

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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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Consumers demand contactless payments for transit: Visa

Payments Dive

Public transport is expected to become a driver of contactless payment usage, especially as environmentally conscious commuters get on board, suggested a survey by card network company Visa.

Payments 418
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Addressing the Need for Personalization in the Financial Services Industry

Perficient

Across financial services – industries such as banking, wealth management, and insurance – the need for greater personalization has been a theme for several years. Fueled by consumers’ willingness to share their data in return for timely and relevant experiences, personalization requires continually learning about the customer and applying this knowledge into the relationship and creating authentic, individualized experiences.

Industry 294
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Fixing Loan Selection Bias In Banking

South State Correspondent

At this point in the business cycle, we believe that community banks should migrate to higher credit quality loans. However, in response to our last few blogs, some community bankers told us they have few opportunities to originate loans at 1.75X debt service coverage ratio (DSCR) and sub 60% loan-to-value (LTV). We believe that the issue some community banks face is survivorship bias, which can be easily remedied.

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Regions Bank exec to cover future of bank branches at Bank Customer Experience keynote

ATM Marketplace

The opening keynote for the Bank Customer Experience Summit, being held in Chicago from Aug. 31 to Sept. 1, will examine the future of bank branches.

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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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Mastercard reports consumer spending increase despite inflation

Payments Dive

In-store spending in June rose 11.7% over last year while e-commerce sales grew at a slower 1.1% pace, excluding auto and gas expenditures, according to Mastercard.

Report 418
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Debt Collection Modernization: The Moment for Bold Action

Perficient

For those of us closely looking over bank results for any signs of an economic recession, there is more evidence that we’ll be there soon if we’re not already here. Wells Fargo announced on July 15 th that revenue and profits missed estimates. Of interest was CEO Charlie Scharf expects “credit losses to increase from these incredibly low levels,” and the bank had sharply increased its provision for credit losses in the quarter from a year earlier.

Strategy 275
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Investors Brace for Hot June CPI Report and So-So Retail Sales

South State Correspondent

Investors Brace for Hot June CPI Report and So-So Retail Sales. Two factors will probably drive most of the price action this week and that’s Wednesday’s June CPI Report and Friday’s Retail Sales. Also, in the background keeping pressure on prices will be reopening auctions of 10yr notes tomorrow and 30yr bonds on Wednesday. Those auctions should keep any rallies in check if not bring some selling pressure in order to move the new debt.

Retail 195
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Compass Plus Technologies hits the double at Global Banking & Finance Awards

Bobsguide

Compass Plus Technologie s has picked up two awards in the Global Banking & Finance Awards 2022. The awards have been running since 2011 and aim to recognise businesses driving innovation, progressive and inspirational changes within the global financial sector. The first accolade received by Compass Plus Technologies was for Best Banking Technology Overhaul Project in recognition of its recent achievements with the Central Bank of Mongolia.

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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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Prepaid Tech buys WorkStride to boost customer engagement

Payments Dive

The Birmingham, Alabama-based fintech says there is room to grow in the $8 trillion market for business-to-business payment software services.

Alabama 418
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The Wait Is Over – The World of Hurt for Auto Lenders Is Here

Perficient

Back in May, we wrote about how various factors were converging to put a world of hurt on auto lenders. Auto loan originations hit a record high during the pandemic, total outstanding debt grew, and constrained inventory and pent-up demand drove new and used car prices (and monthly payments) to record highs. We highlighted the risks to auto lenders who financed vehicles at elevated prices and would inevitably find themselves underwater as the chip shortage eased, expanding the pool of vehicles t

Meeting 275
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Monetary and fiscal policy in interwar Britain

BankUnderground

David Ronicle. Macroeconomic outcomes in Britain’s interwar years were terrible – they featured two of modern Britain’s worst recessions, unemployment twice peaked above 20% and was rarely below 10% and there were two periods of chronic deflation. Policy, meanwhile, was pulled in multiple directions by multiple objectives – employment, price and financial stability and debt sustainability.

Policies 111
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Registration for Intersekt 2022 have officially opened

Bobsguide

Now in its 6th year, the Annual Flagship Australian FinTech Industry Conference – Intersekt, is the leading and most thought-provoking conference. Held from the 7th to 8th of September 2022 at the Grand Hyatt, Melbourne , Australia, it is the largest gathering of Australian Fintechs, hubs, accelerators, policymakers, regulators, investors and advisors, devoted to examining, discussing and unlocking the potential of Australia’s Fintech market.

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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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Rectangle Health taps partner for BNPL financing

Payments Dive

Rectangle Health said it’s partnering with Healthcare Finance Direct to provide buy now-pay later financing to patients that want the option to pay their healthcare bills over time.

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Kids banking fintech GoHenry acquires Pixpay

BankInovation

U.K.-based fintech GoHenry, which provides pre-paid debit cards and a financial education app for children, this week announced its acquisition of France-based startup Pixpay, a challenger bank for tweens and teens. Terms of the deal were not disclosed. The deal will afford GoHenry the opportunity to expand into Europe, Dean Brauer, co-founder and president of […].

Fintech 98
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Celsius Network: crypto firm reveals $1.2bn deficit in bankruptcy filing

TheGuardian

Company says it was faced with ‘run on the bank’ amid ‘cryptopocalypse’ as investors raced to withdraw assets The cryptocurrency platform Celsius Network was left with a $1.2bn (£1bn) deficit after suffering from a digital version of an old-fashioned “run on the bank”, according to its bankruptcy filing in the US. Blaming a combination of its own poor decisions, a global “cryptopocalypse” and unfavourable media coverage, the company filed for Chapter 11 – a US process that allows companies to tr

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BANKING CIRCLE RESEARCH SHOWS NOW IS THE TIME TO GET ON BOARD WITH DIGITAL CURRENCIES

Bobsguide

BANKING CIRCLE RESEARCH SHOWS NOW IS THE TIME TO GET ON BOARD WITH DIGITAL CURRENCIES. Latest white paper suggests banks should prepare for crypto – or risk falling behind the competition. London, 23rd June 2022 – Innovative tech-led Payments Bank, Banking Circle, has commissioned a report on what banks need to do to prepare for the widespread adoption of digital currencies.

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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.