A Future-Ready Approach: Journey to the Cloud


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)?


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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Trending Sources

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


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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Criminals in the financial system

Chris Skinner

The reality is that such activity today is tiny when compared with the amount of illegal activity, drugs and money laundering goes through the banking system. As of 2019, $829 million in … The post Criminals in the financial system appeared first on Chris Skinner's blog. We hear a lot about how crypto and bitcoin encourages illegal activity, drugs, money laundering and such like.

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Ontario Systems Buys SwervePay To Boost Electronic Payments


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


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


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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The Lender's Guide to Automating Complex Loans

Providing commercial lenders with key insights into how commercial lenders can automate small-balance, mid-market, and large-cap loan documentation with advanced technology.

On the origin of systemic risk


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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Four steps for a cloud-ready talent system in banking


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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How to create a credit risk rating system


Develop a credit risk rating system. Having an internally developed risk rating system is common. For banks and credit unions, a popular tool to monitor credit risk is a standardized risk rating system, which can serve several purposes.

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Cloud Banking Gives Legacy Systems A Lift


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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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.

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


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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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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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.

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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Cryptoassets, the metaverse and systemic risk


We argue that if an open and decentralised metaverse grows, existing risks from cryptoassets may scale to have systemic financial stability consequences. None currently meet the Bank’s standards for a systemic stablecoin. Owen Lock and Teresa Cascino.

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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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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.

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

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.

Mastercard CEO Pushes Back Against National Payments System


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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Google Backs FedNow Payments System


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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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


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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Epic Systems Won’t Pursue Further Google Cloud Integration


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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Healthcare Rx: Flexible Payment Systems Drive Positive Patient Experience


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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Regions and Zions execs share advice gleaned from core system overhauls

American Banker

Core systems Core conversions Technology

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.