April, 2022

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The ultimate guide to banking in the metaverse

Accenture

When Neal Stephenson coined the term “metaverse” in his 1992 science-fiction novel, Snow Crash, he could hardly have foreseen that the phrase would be everywhere by late 2021. With bigtech giants like Tencent, Meta and Microsoft all making big bets on the metaverse, there is little doubt that the internet is on the verge of…. The post The ultimate guide to banking in the metaverse appeared first on Accenture Banking Blog.

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Capture more of the finance market – 3 approaches

Accenture

The auto and equipment finance market is growing worldwide. Most current lenders are doubling down on their commitments, while other companies are excited to explore the opportunities. Whichever you are, there are three different approaches you could take—you could build a new business from scratch, buy an existing business or partner with a finance business….

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Sen. Cruz seeks to restrict Fed role for CBDC

Payments Dive

Sen. Ted Cruz's legislation, which follows a companion House bill introduced earlier this year, would prevent the Federal Reserve from issuing a central bank digital currency directly to consumers.

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Why the Shopping Cart is Irrelevant in Insurance

Perficient

In our previous blogs , we’ve documented how insurance is a complicated product for the traditional commerce process. Let’s recap what we’ve covered: It’s a product that is mandated by the state, financial institutions, and professions for many parts of life – driving, homeownership, rental, professional liability, and others. But it’s not a product that most of us enjoy shopping for in our daily lives.

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Back to Basics with Reconciliations

Join us in this webinar, where we share best practices on how to think about the reconciliation work each month, when best to do reconciliations, how they should be prepared, and some common pitfalls to avoid. Learning Objectives: This course objective is to understand how to properly prepare and review balance sheet reconciliations and its impact on the financial statements.

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Lessons Learned from ICBA’s Karen Thomas

Independent Banker

By Lindsay LaNore, ICBA. Karen Thomas. This year, after almost 30 years at ICBA, Karen Thomas is retiring. As the leader of our government relations and advocacy team, she has built an exceptional legacy and garnered industrywide admiration for the depth of her knowledge and her remarkable humility. As her departure approaches, we sat down to discuss her path to leadership and her advice to others.

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NXTsoft Launches New Version of API Marketplace, Empowering Financial Institutions

Bobsguide

Birmingham, Ala. April 28, 2022 – NXTsoft , a company focused on delivering Connectivity as a Service to the financial marketspace has announced the initial version of a multistage release of its FinTech API Connectivity as a Service Marketplace (marketplace.nxtsoft.com) that enables financial institutions to select from pre-built connectors from up 60+ Fintech companies and 99% of U.S.

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New ESG ratings rules are good news for banks

Accenture

Environmental, social and governance (ESG) ratings are essential for banks and the companies they fund. But too often these sustainability assessments are opaque and inconsistent. Now, regulations that would improve the transparency of ESG ratings have just moved closer. The International Regulatory Strategy Group (IRSG), in the UK, has declared its support for the regulation….

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2022's restaurant payment tech push includes QR codes, kiosks

Payments Dive

From QR codes to advanced mobile apps and robots, restaurants are planning to adopt more technology within their operations — including payments — in the year ahead.

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Diving Into Digital Assets: The Business Side of NFTs

Perficient

It’s 2022, and it seems all the rage in media and digital asset news is surrounding non-fungible tokens (NFTs) and the Metaverse. NFTs have been around since at least 2017, when the OG CyberPunks launched. Yet, 2021 was the defining year that changed everything. It was 2021 when digital artist Mike Winkelmann, aka Beeple, sold his NFT, “Everydays: The First 5,000 Days,” for $69 million at Christie’s auction house, and a shocked world took notice.

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How a Managed Services Partner Can Reduce the Friction in Your RDC Program

Treasury teams at community banks face an ongoing challenge of delivering frictionless customer experiences as they support treasury products – especially RDC. This infographic focuses on the efficiencies community banks gain when partnering with a proven managed services provider. You’ll see the advantages you can gain when a managed services partner leverages online tools, skilled customer and technical support personnel, and fulfillment and logistics capabilities to streamline RDC fulfillment

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The top-performing community banks of 2021

Independent Banker

Illustration by Eight Hour Day. Independent Banker’s annual listing top-performing community banks of 2021 alongside interviews with some of the winners. In true community bank fashion, each has its own story to tell and its own path to success. By Molly Bennett, with contributions from William Atkinson, Ed Avis, and Colleen Morrison. What fits one does not fit all.

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5 Strategies to Successfully Launch an ESG Program| FinTalk

Jack Henry

ESG (environmental, social, and governance) has been a hot topic lately, and as Forbes’ article ESG Is Here and There’s No Turning Back explains, publicly traded companies can’t afford to neglect ESG matters any longer.

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Market Commentary: Week of April 18, 2022

SWBC's LenderHub

Last Week. Last week, the financial markets took hits from all directions. On the inflation front, March CPI and PPI came in at levels not seen since the late 1970s to early 1980s. On the war front, the conflict continued to rage as we move closer to direct engagement with Russia by announcing to deliver more and heavier weapons to Ukraine.

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One powerful team solving cloud payments for banks

Accenture

In payments, so much is changing so fast that sometimes it’s hard for banks to know where to start. Moving payments functions to the cloud is one area that a lot of our banking clients are trying to figure out right now as part of their strategy for growth in payments. At the Money 20/20…. The post One powerful team solving cloud payments for banks appeared first on Accenture Banking Blog.

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Budget Playbook for Commercial Lenders — Bank and Credit Union Edition

Amid market uncertainty, banks and credit unions are faced with critical decisions about the future of their commercial lending. With fluctuating interest rates and rising competition from non-bank lenders, it's critical to allocate your 2025 budget strategically to optimize lending operations. Our Budget Playbook for Commercial Lenders delivers key strategies to help you navigate these challenges, ensuring your institution is well-positioned for the coming year.

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Bolt buys Wyre to get crypto in its wallet

Payments Dive

With the $1.5 billion acquisition of cryptocurrency payments firm Wyre, Bolt aims to bring crypto front and center within its online checkout capabilities and digital wallet. Crypto "will be a major part of Bolt’s strategy going forward," said CEO Maju Kuruvilla.

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ThreatAdvice Partners With IGI CyberLabs to Incorporate Nodeware in ThreatAdvice Breach Prevention

Bobsguide

Atlanta, Ga., April 26, 2022 –ThreatAdvice , a company focused on cybersecurity management solutions for the MSP space, today announced a partnership with IGI CyberLabs to include the company’s Nodeware solution that provides continuous vulnerability scanning—including, internal, external and asset identification—in its comprehensive cybersecurity management solution.

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Brad M. Bolton: Educating future leaders

Independent Banker

Photo by Chris Williams. Focusing on the ‘whys’ helps employees see how decisions fit together in a perfect puzzle for high-performing success, and it motivates them to be contributors to that success. In community banking, we’re not ones to rest on our laurels. We’re always raising the bar for ourselves, our teams and our communities to ensure we provide the best possible services to our customers.

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Fannie and Freddie issue guidance implementing foreclosure hold for HAF applicants

CFPB Monitor

As previously reported , the Federal Housing Finance Agency announced that Fannie Mae and Freddie Mac will require servicers to suspend foreclosure activities for up to 60 days if the servicer has been notified that a borrower has applied for assistance from the Treasury Department’s Homeowner Assistance Fund (HAF). Fannie Mae and Freddie Mac have issued guidance documents implementing this requirement in Updated Lender Letter 2021-01 and Bulletin 2022-8 , respectively.

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Is Your Current Card Platform Holding You Back?

Have you ever felt the pain and loss of a client suddenly going silent, leaving you questioning everything? Ghosting can cause heartbreak; in business, it drains resources, and emotionally, it shatters your confidence. A modern credit card program can give you the tools to deliver the digital-first experiences your customer’s demand. Our eBook, “5 Signs Your Credit Card Offering Needs an Upgrade,” will help you identify key indicators that your current card platform may be holding you back and w

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3 Expectations to Set with Vehicle Protection Product Partners

SWBC's LenderHub

When adding new products to their portfolios, financial institutions have no shortage of providers to consider. A well-thought-out introduction and delivery of new products to your account holders and employees is essential to a smooth rollout. This is especially the case with vehicle protection products like Guaranteed Asset Protection (GAP) , Major Mechanical Protection (MMP) , and SWBC’s newly introduced healthCAR program.

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Can banks grab the buy now, pay later opportunity?

Accenture

Buy now, pay later (BNPL). It’s a message that appeals to customers, and it’s a growing trend that’s shaking up the credit industry. Fintechs have been moving aggressively to offer BNPL point-of-sale (POS) options for e-commerce purchases, and increasingly for purchases at brick-and-mortar shops. BNPL offers both convenience and personalization that focuses on customers’ needs. ….

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Card companies called on congressional carpet

Payments Dive

Visa and Mastercard will be in the hot seat next week at a hearing of the Senate Judiciary Committee led by their long-time nemesis, Sen. Dick Durbin. A notice for the hearing teases that the discussion will zero in on "excessive swipe fees" and a lack of competition in the industry.

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TS Imagine EMS Integrates with Appital’s Bookbuilding Platform Ahead of Launch

Bobsguide

EMS integration automates historically manual processes, unlocking hard-to-find liquidity for the buy-side community. London, 25 April 2022: Appital, the Equity Capital Marketplace , today announced that TS Imagine, a leader in trading, portfolio and risk management solutions, has integrated its award-winning, multi-asset EMS with Appital’s pioneering bookbuilding platform to provide buyside clients with greater access to liquidity.

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Top 3 Banking Secrets to Stay Relevant with Gen Z Consumers

Speaker: Brian Muse-McKenney, Chief Revenue Officer & Matt Simester, Cards and Payments Expert

In today’s world of social media, dating apps, and remote work, businesses risk becoming irrelevant (or getting "ghosted") if they fail to meet the evolving needs of Gen Z consumers. Credit cards with flexible payment options, especially for young adults with little-to-no credit history, are a particularly important and valuable solution for this generation.

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3 Challenges of Fintech Integration | FinTalk

Jack Henry

Partnering with large financial technology companies can be a tremendous opportunity for fintechs to gain exposure to more financial institutions and end-users. In return, large technology companies can benefit from the innovative solutions fintechs offer that can help them stand out from the competition and exceed customer expectations. Regardless, there’s no doubt that these mutually beneficial relationships regarding fintech in the banking industry are the future.

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CFPB issues report on state payday loan extended payment plans

CFPB Monitor

A new CFPB report, “ Market snapshot: Consumer use of State payday loan extended payment plans, ” describes the requirements of state payday loan extended payment plan laws in the 16 states that have such laws. The report also compares extended payment plan usage to payday loan rollover and default rates. According to the CFPB, the report “is believed to be the first study to compare State extended payment plans and usage rates.”.

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Market Commentary: Week of April 11, 2022

SWBC's LenderHub

Last Week. Last week was highlighted by carnage in the long end of the Treasury yield curve as both Federal Reserve Vice-Chairwoman Lael Brainard and Kansas City Federal Reserve Bank President Esther George took to the airwaves to say that the Fed would be reducing its $8+ trillion balance sheet very soon.

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Banks need to modernize their cultures in the wake of the pandemic

Accenture

One of the biggest long-term impacts of the COVID-19 pandemic is how it changed our relationship with work. Record numbers of people are re-thinking their careers right now. A survey of 30,000 employees across 31 markets in early 2021 found that more than 40% were thinking about leaving their current jobs. Between April and September…. The post Banks need to modernize their cultures in the wake of the pandemic appeared first on Accenture Banking Blog.

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Breaking New Ground: Managing Innovation Fatigue With Effective Automation

Speaker: Gary Dmitriev

Our upcoming webinar aims to demystify the process of selecting and implementing automation tools for financial institutes. This session will provide your roadmap for vetting potential solutions, focusing on due diligence, vendor assessments, and aligning technology with strategic goals. We’ll also address the critical issue of innovation fatigue, offering tips on maintaining enthusiasm and momentum for new initiatives.