A Future-Ready Approach: Journey to the Cloud

Accenture

Banks need a clear approach to eliminate their legacy technology debt and attain future-ready systems. That means taking the journey to the cloud – a typically incremental process by which banks shift their core-systems architecture to a flexible,….

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What is a Loan Origination System (LOS)?

Abrigo

What an LOS Is, and How It Benefits CFIs A loan origination system automates and manages the lending process to address common challenges. You might also like this report on commercial loan automation systems DOWNLOAD. Here's what a loan origination system is.

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A Future-Ready Approach: Building “Living Systems” for Banks

Accenture

The post A future-ready approach: Building “Living Systems” for banks appeared first on Accenture Banking Blog. Uncategorized Agile Bank Bank Innovation Banking Technology Data & Analytics Digital Banking future of banking legacy systems

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COVID-19 recovery forces transit systems to accelerate contactless

Payments Dive

Public transit systems are speeding up their efforts to promote contactless travel as the COVID-19 pandemic has devastated ridership and revenue on many of these systems

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How to Choose the Best Automated Documentation System for Commercial Loans

Not all automated loan doc prep solutions are created equal. That is why we have put together a checklist to help you evaluate potential partners and find the best-automated documentation system for your requirements and needs.

Is the whole system about to fail?

Chris Skinner

That being said, I do follow … The post Is the whole system about to fail? I’m a simple guy. I don’t trade or invest much. That may seem surprising for a FinTech guy, but most of what I’ve invested in seems to lose value.

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Four steps for a cloud-ready talent system in banking

Accenture

The post Four steps for a cloud-ready talent system in banking appeared first on Accenture Banking Blog. With cloud skills of all kinds in hot demand across many industries, banks are having to come to grips with an uncomfortable truth.

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Ontario Systems Buys SwervePay To Boost Electronic Payments

PYMNTS

Payment collections software company Ontario Systems has acquired SwervePay to help bolster its electronic payment capabilities, according to a press release. B2B Payments Acquiring Acquisition B2B Digital Payments News Ontario Systems SwervePay What's Hot In B2B

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Bank Of Thailand Plans Digital Payments System Prototype

PYMNTS

The Bank of Thailand plans to work on a new payment system for businesses using Central Bank Digital Currency (CBDC), according to a press release , which will be a step toward readying the business sector for the digital age.

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On the origin of systemic risk

BankUnderground

Systemic risk in the bank sector is often associated with long periods of economic downturn and large social costs. In a new paper , we develop a microstructural contagion model to disentangle and quantify the different sources of systemic risk for the euro-area banking system.

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Digital Commercial Lending Technology Case Study: Increasing Loan Volume and ROI

In this Commercial Lending Case Study, you'll discover how to leverage digital lending technologies to accelerate growth and leapfrog the competition in the private lending market. A new and innovative approach to mortgage lending — growing lending volume by orders of magnitude.

24 Big European Banks Take On Visa, Mastercard With Their Own Payment System

PYMNTS

Dubbed the Pan European Payment System Initiative, or PEPSI, the group has the support of 20 French and German banks, and would handle all forms of cashless transactions. . International banking Banks EU europe MasterCard News Payment System Visa What's Hot

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What Basic Functions Should My Loan Origination System (LOS) Perform?

Abrigo

Features of a Commercial LOS What basic functions should a loan origination system complete? Takeaway 1 Know the features and functions of a loan origination system (LOS) if your financial institution is shopping for one or upgrading.

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Cloud Banking Gives Legacy Systems A Lift

PYMNTS

Is it surprising to know that 55 percent of legacy financial institutions (FIs) report lacking maturity in core systems? Or that, on average, 15 percent of an FI’s annual operating costs go toward maintaining core banking systems that are outmoded?

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Data-Driven Insurance for Energy Systems

Daily Fintech

The post Data-Driven Insurance for Energy Systems appeared first on Daily Fintech. The energy industry is changing. A U.S. Energy Information Administration report found that solar and wind accounted for most new electricity capacity.

Trusted AI 102: A Guide to Building Fair and Unbiased AI Systems

The risk of bias in artificial intelligence (AI) has been the source of concern and debate. High-profile examples demonstrate the reality that AI is not a default “neutral” technology and can come to reflect or exacerbate bias encoded in human data.

Why banks fear core systems change

Chris Skinner

I was listening to a group of CIOs talking about legacy systems change the other day. One said that it doesn’t matter how old the systems are; it’s all about whether they are maintainable and fit-for purpose. I kind of agreed with that, although I cannot think of any silo-based, … The post Why banks fear core systems change appeared first on Chris Skinner's blog.

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Should your business upgrade to a modern payment system?

Payments Dive

Retailers need to consider shedding their legacy POS systems to enable mobile payment acceptance, business analytics, EMV security and better inventory management

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Forget legacy systems; what about legacy vendors?

Chris Skinner

I’m always blogging about replacing core systems, open source the bank, change the leadership to one that gets it and just do it. Not gonna name names, but I’ve had a few really fun discussions with banks in … The post Forget legacy systems; what about legacy vendors? I’m saying it so much that I’m finding myself boring. So let’s change tack. Who’s the vendor?

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Playing Catch-Up in Crypto, Banks Ask Core Providers for Help

American Banker

Core systems Bitcoin Digital transformation - The Simplification of the Tech Stack Cryptocurrencies

Build Trustworthy AI With MLOps

Machine learning operations (MLOps) helps companies deliver machine learning applications in production at scale. Discover the importance of secure MLOps in the four critical areas of model deployment, monitoring, lifecycle management, and governance.

What cost a system outage?

Chris Skinner

A month ago, I blogged about the problems at TSB when implementing the change-over of their core systems. Yes, core systems replacements are challenging, but they’re not risky when done right. Not only has it been highly … The post What cost a system outage? Unfortunately, TSB’s change-over shows all the marks of how to get it wrong. appeared first on Chris Skinner's blog. Case Studies Grid Opinion

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Massive cyberattack on the US wholesale payments system (simulation but real?)

Chris Skinner

Financial System: A Pre-Mortem Analysis from The New York Fed and released in January. One report you may have missed was this one: CyberRisk and the U.S.

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Core systems should have built-in obsolescence

Chris Skinner

There is no need to build … The post Core systems should have built-in obsolescence appeared first on Chris Skinner's blog. Talking about moving from proprietary to open, from controlled to marketplace and from internal to external focus, another key change is the very nature of technology itself. It’s quite clear that a start-up today could launch with just a few thousand dollars, Amazon Web Services and a bright idea.

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Mastercard CEO Pushes Back Against National Payments System

PYMNTS

Ajay Banga, the chief executive officer (CEO) of Mastercard, is adamantly against any attempts to fracture the Global Payments Systems (GPS) into national domains, Financial Times (FT) reported on Sunday (Feb.

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Reaching Unreachable Candidates

Speaker: Patrick Dempsey and Andrew Erpelding of ZoomInfo

What is ZoomInfo for Recruiters? Find and connect with the right talent to fill roles fast with more data, basic search, advanced search, candidate and company profiles, and export results. Watch this On-Demand Webinar today to see how ZoomInfo for Recruiters can work to get your talented candidates results.

Pakistan Launches Payment System To Boost Financial Inclusion

PYMNTS

Pakistan has debuted a government-run instant digital payment system to help with financial inclusion and government revenue, Reuters reports. The new system is called "Raast," or "direct way," and will be rolled out in three phases culminating in early 2022, according to the news outlet.

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Google Backs FedNow Payments System

PYMNTS

First, UPI is an interbank transfer system. … Second, it is a real-time system. The system in India was quickly and widely adopted, and jumped from 100,000 monthly transactions three years ago to 1.15 Google sent a letter to the Federal Reserve , asking the U.S.

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Healthcare Rx: Flexible Payment Systems Drive Positive Patient Experience

PYMNTS

healthcare system is lauded for providing the best, most advanced care in the world, when it comes to the payments practices being used with much of that industry, honorable mention might be a more fitting rank. Although the U.S.

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Epic Systems Won’t Pursue Further Google Cloud Integration

PYMNTS

Epic Systems is telling clients that it will not seek further Google Cloud integration and will instead focus on Microsoft Azure and Amazon Web Services (AWS), CNBC reported. hospital systems, and its installations are a large endeavor.

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Marketing-Led Post-COVID-19 Growth Strategies

Businesses are laying off workers, shutting their doors (some permanently), and struggling to react to the radical destruction that coronavirus (COVID-19) is doing to our society and communities. However, there’s no team better suited to lead that charge than the marketing department.

Federal agencies approve cyber-attack rules for US banking system

Banking Exchange

OCC, Board, FDIC will require banks to report incidents within 36 hours Compliance Compliance Management Compliance/Regulatory Cyberfraud/ID Theft Security Mobile Online Core Systems Risk Management Technology Feature Feature3.

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JCB And TECHFUND Partner For Blockchain Payment System Ideas

PYMNTS

Japan-based credit card and payment firm JCB has announced a partnership with tech startup accelerator TECHFUND to explore the idea of a payment system with blockchain options, the company said on Friday (May 15). based Paystand for a B2B payments system.

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U.S. Bank: How Legacy Systems Impede Open Banking Adoption

PYMNTS

and the United Kingdom, a study of how open banking has reduced the need for outmoded data sharing practices like screen scraping, and an examination of how legacy systems have hindered the spread of open banking.

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Russia To Launch MIR Payment System In UK

PYMNTS

Russia is partnering with PayXpert to test its national payment system MIR in London, RT.com reported on Wednesday (Nov. will be the first country where the system will operate, and PayXpert will become the “unique acquirer” of MIR cards in Europe, the report noted.

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Humility in AI: Building Trustworthy and Ethical AI Systems

AI is becoming ubiquitous. More and more critical decisions are automated through machine learning models, determining the future of a business or making life-altering decisions for real people. The number of critical touch points is growing exponentially with the adoption of AI. In this ebook, we explore the concept of humility in AI systems and how it can be applied to existing solutions to ensure their trustworthiness, ethicality, and reliability in a fast-changing world.