August, 2021

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Delight customers with easy and invisible payment experiences

Accenture

In early 2020, when the COVID-19 pandemic shut down many everyday services, people discovered new ways of doing things—like grooming their pets or styling their own hair. Doing these things involved mainly online purchases. The way they made their regular purchases changed too—for example, getting their groceries delivered to their door or picking them up curbside.

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Data Is the Foundation…for Everything in Insurance (Part 4 of 5)

Perficient

Data fuels the engine of the digital economy. Connected experiences, in the context of the customer relationship, are driven by a robust data set that confidently presents integrated, diverse data to enable actionable insights that can be automated across the customer’s journey. Internally, data creates the foundation for increased analytic application of fraud detection, at-risk customer behavior, and improved cross-functional process management.

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ICBA’s 2021 National Community Bank Service Award winners

Independent Banker

This year’s winners: Left: Central Valley Community Bank, People’s Choice Award; Middle: Kennebec Savings Bank, Exceptional Community Bank Service Award; Right: Cross River Bank, Emerging Service Program Award. ICBA’s National Community Bank Service Award winners for 2021 demonstrate that when their local areas need support, community banks are there with innovative, compassionate and thoughtful responses.

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Now is the Time to Diversify Revenue Generation

Jack Henry

As many of you are aware, there is a proposal in Congress to cap debit interchange, and it’s likely to pass into law. For institutions with less than $10B in assets, the cap could eliminate 25% to 35% of interchange income. While it’s always a good idea to have multiple healthy income streams, this unfavorable outlook for interchange makes it especially relevant now.

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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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Be advised: helping financial services adapt to hybrid work

Cisco

This week’s blog comes to us from Marc Haimsohn , Senior Director of Business Development at Vyopta. Vyopta is a Cisco Solutions Partner that specializes in monitoring, reporting, and analytics in order to increase user adoption and improve ROI for your Cisco investments and collaborations spaces. Companies in the financial services sector – whether established names like Goldman Sachs or newer players in the tech world – have come out most in favor of returning their employees to the offi

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How to tap marketing to boost your ATM presence

ATM Marketplace

When it comes to ATMs, most banks are fairly good at branding. Most post large signs and symbols that clearly communicate to customers that this is their ATMs. But when it comes to marketing, many banks fall behind. Here's how to catch up.

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Preparation: The Overlooked Key to CRA Success

ABA Community Banking

The investment of time and effort on the front end of a CRA cycle can yield notable benefits. The post Preparation: The Overlooked Key to CRA Success appeared first on ABA Banking Journal.

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Do large and small banks need different prudential rules?

BankUnderground

Austen Saunders and Matthew Willison. Banks come in different shapes and sizes. Do prudential regulations that work well for big banks work as well for small ones? To help us find out, we measure the effectiveness of some key regulatory ratios as predictors of bank failure. We do so using ‘receiver operating characteristic’ – or ‘ROC’ – analysis of simple threshold rules.

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Boost Your Bottom Line by Changing the Conversation on CX

Jack Henry

Banks and credit unions have known for years that experience matters. We know that customers and members, particularly mobile-first digital natives like Millennials and Gen Z, expect the same speed and ease-of-use they experience with Instagram and Uber from their financial institutions. In the modern world, a digital offering can’t be viewed as simply a checklist item or a means to an end.

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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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Bolstering Digital Transformation in Banking

Cisco

IDC Uncovers the latest trends and advice for financial services. The events of 2020 will leave a lasting impact on the financial sector as institutions accelerated the shift to a digital environment, both for customers and their employees. Digital transformation has raised the bar for financial services , dictating seamless, personalized interactions during branch visits.

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Robinhood Acquired This Company For Its Shareholder Communications Platform

CB Insights

Robinhood , a financial services company, has acquired Say Technologies , a shareholder communication platform, for $140M. WHO ARE THE PARTIES TO THE DEAL? Say Technologies: California-based Say is a technological platform that gives shareholders access to their full ownership stake. It crowdsources retail investor queries and allows investors to communicate with firms that they own during annual meetings, earnings calls, and other events.

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Finalists announced for Bank Customer Experience Summit Awards

ATM Marketplace

The finalists have officially been announced for the Bank Customer Experience Summit Awards, which will be held in Chicago during the summit, which will run from Sept. 13 to 15.

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Bank Partnerships Improve America’s Financial Education Report Card

ABA Community Banking

As kids head back to school, banks across the United States will deploy their resources, reach and expertise to provide the next generation, particularly those in underserved communities, with the financial education they need. The post Bank Partnerships Improve America’s Financial Education Report Card appeared first on ABA Banking Journal.

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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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Monetary policy, sectoral comovement and the credit channel

BankUnderground

Federico Di Pace and Christoph Görtz. There is ample evidence that a monetary policy tightening triggers a decline in consumer price inflation and a simultaneous contraction in investment and consumption (eg Erceg and Levin (2006) and Monacelli (2009) ). However, in a standard two-sector New Keynesian model, consumption falls while investment increases in response to a monetary policy tightening.

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Harnessing The Power of the Human Connection

Jack Henry

The Human Touch. It’s just another weekday at Mazama’s. As I stand in line, I watch as a woman gracefully moves from one task to another with ease. She makes eye contact and greets every person who comes through the door. She often knows what the person wants before they even ask, as if she reads minds. She asks about your kids by name and asks about your recent vacation.

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Backbase partners with eToro

The Paypers

Engagement Banking fintech Backbase has partnered with multi-asset investment platform eToro to enhance eToro’s digital onboarding capabilities and back-end compliance infrastructure.

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This Nubank–Backed Indian Neobank Raised $71M To Hire Talent

CB Insights

Jupiter, a neobanking startup, has raised $71M in a Series B. The round drew participation from NuBank, Beenext, Sequoia Capital India, Greyhound Capital, Tanglin Venture Partners, and Global Founders Capital, among others. How’s the company performing? India-based Jupiter has built a neobank for Indian consumers and created a number of products, including a savings account, with features aimed at making money management easier.

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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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Non-traditional branches: A new approach for a changing world

ATM Marketplace

The world has changed and with it consumer banking habits. How do financial institutions keep up with these changes while still offering their customers exceptional branch experiences?

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Afghanistan Bank Governor on Economic Prospects

Bankelele

Ajmal Ahmady, the acting Governor of the Central Bank of Afghanistan, Da Afghanistan Bank (DAB) in the ousted government has continued to post a series of tweets about events in the country. He answered questions about the country’s reserves, future relations with the IMF, relations with the US, management of the budget and deficit and […].

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Core Conversions Don’t Have to Be Chaos

Image Works Direct

Many core conversions were put on hold during the pandemic, but those seem to be moving full speed ahead now. If your financial institution is facing a conversion, you may feel overwhelmed. After all, a lot goes into a successful core conversion, and along the way, there can be many challenges and obstacles.

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3 Ways Deposit Escrow Management Software Can Help You Drive Growth

Jack Henry

Constant economic changes, evolving customer expectations, emerging technology, and other market challenges have forced banks to be even more innovative in their strategies to achieve business goals. Building on – or expanding upon – commercial services like escrow management is often an untapped strategy. Many banks are still relying on siloed data systems and manual processes (including labor-intensive, error-prone spreadsheets) to track and add sub-accounts.

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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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Facebook digital wallet Novi is ready for market launch

The Paypers

Facebook has announced it will launch the Novi digital wallet tied to the Diem blockchain-based payment system, having received the necessary regulatory clearances.

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The Future According To SoftBank

CB Insights

SoftBank Group , headed up by Masayoshi Son, has made enormous and varied bets on the future. . It has ratcheted up its investment activity since 2017, when it launched its first Vision Fund, which sized up at nearly $100B — the largest tech-focused investment fund ever. In 2019, the firm launched a $5B Latin American Fund, as well as a second Vision Fund, which has since grown in size to roughly $30B.

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Credit union uses ITM to handle COVID-19

ATM Marketplace

Banks have struggled to keep branches operational during COVID-19. Credit unions in particular, had major issues adjusting since many unions thrive on that in-person, family environment. However, for one credit union, ITMs helped keep that personal touch alive.

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Dalberg on Kenya’s Digital Economy

Bankelele

How deep is the digital economy in Kenya? The post Dalberg on Kenya’s Digital Economy appeared first on Bankelele.

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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.