Wed.Nov 01, 2023

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The Top 5 Major Advances in the Future of Banking, Financial Services, and Insurance (BFSI) Industry

Perficient

Intelligent automation and generative AI can unlock tremendous value for financial services leaders who want to optimize experiences and reduce costs. Perficient was honored to participate in the inaugural Banking, Financial Services, and Insurance (BFSI) event hosted by Kofax. With more than 50 financial services and insurance professionals in attendance, this event showcased the industry’s unwavering commitment to practical innovation.

Industry 251
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PayPal tapping Google AI tool

Payments Dive

Google CEO Sundar Pichai did not provide details on how PayPal used the tool, saying only that it helped “boost developer productivity.

Google 418
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Perficient Included in Forrester’s Application Modernization And Migration Services Landscape

Perficient

In today’s world, enterprises must put an emphasis on their cloud transformation, or they’ll be left behind. To have success, organizations must adopt cloud in concert with business vision to deliver digital initiatives and strategic goals. One of the leading drivers of digital transformation is application modernization and migration, but unfortunately, not everyone has the internal resources to champion these efforts on their own.

Report 221
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Global Payments delays new POS launch

Payments Dive

The payments processor’s new point-of-sale software for retail and restaurant customers will launch in early 2024, not this year.

Payments 397
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Fall In Love With the Month-End Close

It's the time of year to give our close process some TLC. Join us in this one hour webinar where we discuss how to adopt leading practices and infuse technology into the month-end close process to improve our experience and increase our productivity during month-end and quarter-end close. Learning Objectives: This course's objective is to understand how the month-end close can be improved with automation and adoption of leading practices.

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Schwarzenegger’s Wisdom: Elevating Appraisers

Realwired Appraisal Management Blog

If you know your potential exceeds your current results, take pause. Be Useful: Seven Tools for Life by Arnold Schwarzenegger provides a roadmap to improve our personal and professional lives. “Be hungry for success, hungry to make your mark, hungry to be seen and to be heard and to have an effect.

Tools 105

More Trending

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UK ‘removes state guarantees from almost £1bn in Covid loans’

TheGuardian

Reported move over scheme run by British Business Bank pushes losses on to banks if borrowers fail to repay The UK government has reportedly removed state guarantees from almost £1bn in Covid-19 emergency loans, pushing potential losses on to banks if borrowers fail to repay them. The taxpayer-owned British Business Bank (BBB), which runs the loan schemes, removed state guarantees from 10,786 loans worth a combined £979m up to 11 October, according to data obtained under freedom of information l

Report 91
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Non-bank financial institutions must report data security breaches: FTC

Payments Dive

The amendment to the FTC’s Safeguards Rule would require non-banking financial institutions to report when they discover information impacting at least 500 people has been accessed without authorization.

Report 221
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FTC announces new Safeguards Rule breach notification requirements

CFPB Monitor

On October 27, the Federal Trade Commission (“FTC”) unanimously voted to amend the Safeguards Rule to require non-banking financial institutions to report data breaches and security events to the Agency. This amendment will become effective 180 days after its publication in the Federal Register. Under the amended rule, financial institutions subject to the authority of the FTC will be required to notify the Agency as soon as possible, and no later than 30 days after discovery of a “Notification

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BNPL debt accumulates in the U.K., Ripple expands cross-border tech

American Banker

The U.K.'s Financial Conduct Authority released data that shows buy now/pay later lending on the rise, Ripple is working with Uphold to improve crypto liquidity and more.

Lending 83
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5 Ways You Can Win Faster with Gen AI in Sales

Incorporating generative AI (gen AI) into your sales process can speed up your wins through improved efficiency, personalized customer interactions, and better informed decision- making. Gen AI is a game changer for busy salespeople and can reduce time-consuming tasks, such as customer research, note-taking, and writing emails, and provide insightful data analysis and recommendations.

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5 Spooky Financial Decisions (and How to Safeguard Your Financial Future)

BankBazaar

Understanding the top spooky financial choices and taking steps to avoid them can help you conquer the financial spectres that might otherwise haunt your future! Just as the festival of Diwali lights up our lives, there are financial decisions that can cast a shadow of fear if not managed wisely. In this article, we’ll explore the top five scary financial decisions and provide guidance on how to ensure you make the right choices.

How To 78
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Mastercard removes some ads for customer transaction data

American Banker

The card network sells aggregate information about customer spending habits, which data-privacy advocates say goes past Mastercard's role as a payment processor. Mastercard explained the recent removal of certain advertisements as a business decision.

Data 78
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Bloomberg Intelligence analysts host Alan Kaplinsky on podcast

CFPB Monitor

Alan Kaplinsky, Senior Counsel in and former Practice Group Leader of Ballard Spahr’s Consumer Financial Services Group and frequent host of the Consumer Finance Monitor Podcast (a weekly podcast episode sponsored by our Consumer Financial Services Group) was recently the special guest of Bloomberg Intelligence analysts Elliott Stein and Nathan Dean on their podcast, Votes and Verdicts. .

Groups 78
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As Maui reopens, Hawaii's leading banks brace for post-fire challenges

American Banker

The island state's biggest banks — which reported lower profits in the third quarter — say it is too soon to fully assess the economic fallout from the deadly August wildfires. The rebuilding effort could boost near-term deposit growth and long-term loan demand, they said.

Hawaii 77
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The Role of Automation in Commercial Lending

Automation is changing the game for commercial lenders, offering a clear path to competitive advantage in 2025. Rising costs, outdated workflows, and manual data entry slow growth and impact borrower satisfaction. Automation addresses these challenges, reducing costs, speeding up loan cycles, improving accuracy, and elevating borrower experiences. With market uncertainty easing, now is the time to act—waiting until loan volumes rebound leaves lenders unprepared and struggling to compete.

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Kenya to roll out a digital identification system

The Paypers

The government of Kenya has revealed its plans to introduce a digital identification system in December 2023 following a testing period.

System 74
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Transactions: Citizens Bank adds AWS plug-in

BankInovation

Citizens Bank added a new Amazon Web Services plug-in to its tech stack in October, according to BuiltWith, which offers an intelligence tool that tracks technology adoption and use.

Tools 72
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Two black heroes on slave trade abolition stamp series | Brief letters

TheGuardian

Olaudah Equiano and Ignatius Sancho | Seaweed servings | Bank profits | Retirement age | A vote for Labour To offer some small credit to Royal Mail, Olaudah Equiano did feature on a first-class stamp as part of the Abolition of the Slave Trade series in 2007 , which also included a 72p stamp for the great Ignatius Sancho ( Opinion, 28 October ). That the same series also included four stamps of white people tends to confirm the point that black figures have been poorly represented.

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Chase exec: 3 uses for automation, AI in underwriting

BankInovation

Financial institutions are identifying AI uses within their operations for coding, documentation and underwriting. Chase Auto National Credit Director Anne Alburo discussed use cases and their implications for AI and automation in underwriting at Auto Finance Summit 2023 in Las Vegas on Monday.

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10 Ways to Leverage Buyer Signals and Drive Revenue

In today’s ultra-competitive markets, it’s no longer enough to wait for buyers to show obvious signs of interest. Instead, sales teams must be proactive, identifying and acting on nuanced buyer behaviors — often before prospects are fully ready to make a purchase. In this eBook from ZoomInfo & Sell Better, learn 10 actionable ways to use these buyer signals to transform your sales strategy and close deals faster.

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Powell says Fed will pursue 'consensus' on capital reform

American Banker

Federal Reserve Chair Jerome Powell said he expects the final version of the Basel III endgame reforms to garner "broad support" after comments are received and addressed.

Capital 48
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Mangopay secures UK EMI licence

The Paypers

Mangopay has received an EMI licence authorised by the FCA in order to deliver its services to UK customers and strengthen its presence in the region.

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Why fintechs that help older adults are fundraising now

American Banker

Charlie, a neobank marketed to people 62+, and Carefull, which partners with financial institutions, recently raised their Series A's. A third, called EverSafe, is embarking on its first fundraise.

Fintech 41
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Payhawk becomes a principal member of Visa Europe

The Paypers

Global spend management solution Payhawk has received principal member status from Visa , advancing its mission to simplify business payments.

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Outsource With Confidence for RDC Program Success

Remote Deposit Capture (RDC) clients are more likely to use additional treasury services and maintain larger deposits. However, poor customer experiences—particularly if they delay deposits—can compel RDC clients to take their business elsewhere. This eBook makes the case for outsourcing RDC operations to a proven managed services partner. This approach helps Treasury Departments with limited resources provide excellent client experiences that result in higher retention and productivity rates.

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Virginia bank extends dividend pause amid ongoing regulatory issues

American Banker

Citing the need to conserve capital, Blue Ridge Bankshares indefinitely extended a dividend suspension that it announced in July. The bank remains well-capitalized, but it saw its ratios shrink in the third quarter.

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Tabby secures USD 200 million in Series D funding round

The Paypers

MENA-based BNPL platform Tabby has secured USD 200 million in Series D funding round in order to develop its solutions and expand its offerings.

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N.J. banker arrested in drug money laundering scheme

American Banker

U.S. Attorney Philip R. Sellinger said Oscar Marcelo Nunez-Flores, a New Jersey bank staffer of a bank unnamed in case documents, was arrested Wednesday after he allegedly took bribes to launder millions in drug money to Colombia.

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Waave partners with Merco

The Paypers

Australia-based Waave has partnered with Merco to provide continuity to POLi -affected merchants by introducing an Open Banking alternative.

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Signal-Based Selling: How to Leverage 4 Key Buying Signals

As prospects define their problem, search for solutions, and even change jobs, they are generating high-value signals that the best go-to-market teams can leverage to close more deals. This is where signal-based selling comes into play. ZoomInfo CEO Henry Schuck recently broke down specific ways to put four key buying signals into action with the experts from 30 Minutes to President’s Club.