May, 2021

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How to Build Future-Ready, Intelligent Operations That Drive Customer Experience and Faster Growth

Accenture

In my first blog on the future of banking operations in a post COVID-19 world, I examined why banks must reduce their operational costs dramatically just to stand still. In this follow-up post, I zero in on how to achieve the scale of cost reduction required – while also building the intelligent, growth-enhancing operations function….

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Perficient to Present at Fintech Generations 2021

Perficient

Perficient is excited to announce that Fintech Generations 2021 , a global fintech thought leadership event that takes place June 7-11, will feature Scott Albahary, chief strategist, financial services. In the session “Differentiating Your Brand for the Digital Era,” Scott will discuss how financial services companies can leverage digital technologies in new and innovative ways to create new value for consumers and businesses.

Fintech 462
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Bank of America, Wells Fargo Hit Minority Investment Targets

Banking Exchange

The banking giants have fulfilled pledges made last year to boost investment in minority-owned banks and businesses Retail Banking Duties Lines of Business Feature Business Credit Financial Trends Feature3 Fair Lending Diversity Socially Responsible Investing.

America 167
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Banks: Investors need to know ESG factors to stay relevant

Bobsguide

Investors need to start ingesting ESG factors in their overall value proposition to remain relevant, according to Simone Vroegop, head of investor services strategy for Europe and Asia at Brown Brothers Harriman. “ESG has gone from a hype to the biggest revolution where virtually all.

Strategy 167
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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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Ballard Spahr’s Consumer Financial Services Group again receives highest national ranking from Chambers USA

CFPB Monitor

We are pleased to announce that Ballard Spahr’s Consumer Financial Services Group has once again received the highest national ranking from Chambers USA: America’s Leading Lawyers for Business. The Group was ranked in the highest tier nationally in Compliance and Litigation, the two categories previously used by Chambers USA for Financial Services Regulation: Consumer Finance.

National 148

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Introducing The Altimeter, an inside guide to banking in the cloud

Accenture

As the Covid-19 pandemic abates in much of the world, banks are doubling down on their efforts to embrace banking in the cloud. The pandemic highlighted the relative ease and flexibility of moving to the cloud, and of accomplishing things never before imagined. For example, banks created virtual call centers in days—an impossible mission for…. The post Introducing The Altimeter, an inside guide to banking in the cloud appeared first on Accenture Banking Blog.

Examples 441
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Are You Losing Good-Credit Customers to Suboptimal Debt Collection Practices?

Perficient

2020 had a significant impact on families from many perspectives. Consumers who worked extremely hard to achieve coveted top credit scores were caught off guard and ended up having to rely on their savings to stay in good standings with banks and creditors. Unfortunately, no one could predict how long the impact would last, and therefore those consumers fell into delinquency.

Analytics 436
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How Banks Can Support Small Businesses After COVID-19

Banking Exchange

The pandemic has had a profound effect on small businesses – but the post-pandemic rebirth is rife with opportunity Community Banking Feature3 Feature PPP Covid19 Bank Performance The Economy.

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Memorial Day: Remember Maurice "Maury" Hukill

Jeff For Banks

In 1975, a bloody civil war erupted in the country of Lebanon between Palestinian and other Muslim guerrillas and Christian groups. During the ensuing years, Syrian, Israeli and United Nations interventions failed to resolve the factional fighting and the resulting instability and bloodshed. In August, 1982, a multinational force, including 800 U.S.

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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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Quantum computer: The 'coronavirus' of cryptography

ATM Marketplace

Jurjen Bos is the cryptographer and corporate information security advisor for equensWorldline. He deals with determining risk, specializing in IT security and cryptography, which is a branch of mathematics. Bos shares his thoughts on the arrival of quantum computers and how this event can be a potential game changer for the payments marketplace.

Security 142
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Quantifying culture and its implications for bank riskiness

BankUnderground

Joel Suss, David Bholat, Alex Gillespie and Tom Reader. ‘Bad cultures’ at banks are often blamed for scandals and crises, from the global financial crisis to the mis-selling of payment protection insurance (PPI) in the UK. Yet surprisingly little research has tested this claim. This is because quantifying culture is difficult to do. Our working paper gives it a go.

Survey 145
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A clear-eyed approach to the data dilemma in sustainable banking

Accenture

In my last blog post, I outlined the challenges and opportunities ahead for sustainable banking. With this post, I’m joined by my colleague Prithika Priyanshi, Senior Principal from the Center for Data & Insights at Accenture, who specializes in AI-powered sustainability. Just as digital did ten years ago, sustainability now impacts every part of the….

Data 397
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Cisco Financial Services welcomes imimobile

Cisco

The Cisco Financial Services team welcomes imimobile’s Aly Abji – Strategic Client Director for Financial Services as our guest blogger this week. Earlier this year Cisco completed its acquisition of imimobile, adding an enterprise-grade, digital-first client interaction management platform to Cisco’s industry-leading collaboration and contact center solution portfolio.

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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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Pandemic Puts Branch-Based Bank Jobs at Risk

Banking Exchange

Wells Fargo analyst warns that 200,000 jobs could be lost as digitization and branch consolidation trends bite The Economy Technology Financial Trends Feature3 Feature Fintech.

Trends 147
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The U.S. Pandemic Recovery is a Chance to Improve Digital ID

Payments Source

Risk Authentication Payment fraud

Fraud 197
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Goldman Sachs executive quits after making millions from Dogecoin

TheGuardian

The crypto asset is down more than 30% this week but is still up by more than 1,000% from the start of 2021 A senior manager at Goldman Sachs in London has quit the US investment bank after making millions from investing in Dogecoin, the joke crypto asset which has risen by more than 1,000% in value this year. City sources said Aziz McMahon, a managing director and head of emerging market sales, had resigned from the bank after making money from investing in the digital currency based on the Dog

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The consumption response to borrowing constraints in the mortgage market

BankUnderground

Belinda Tracey and Neeltje van Horen. How is household consumption affected by borrowing constraints in the mortgage market? In a new paper , we answer this question by studying the UK’s Help to Buy (HTB) program over the period 2014–16. The program facilitated home purchases with only a 5% down payment and resulted in a sharp relaxation of the down-payment constraint.

Marketing 142
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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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Five reasons the cloud is a generational opportunity for payments right now

Accenture

The power of the cloud shouldn’t be news for any leader in payments today. Whether public, private, or hybrid, the cloud’s capabilities are widely known and beyond dispute. But cloud transformation is newly urgent. Accenture research has found that modernizing payments is a $300 billion opportunity, with 2.7 trillion cash transactions forecast to move to….

Payments 370
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ATMIA: Texas ATM human trafficking bill 'based on false premise'

ATM Marketplace

A proposed law to register ATMs in Texas to fight human trafficking has drawn criticism from the ATM industry.

Texas 136
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Blue Ridge and Aeldra Partner to Help Underserved Cross-Border Clients

Banking Exchange

Virginia-based bank seeks to boost banking access for overseas companies with US banking needs Community Banking Feature3 Fintech Feature Financial Trends Mobile Online Tech Management.

Virginia 145
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Cities work to bring fintech to underserved communities

Payments Source

Community 211
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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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British banks finance 805m tonnes of CO2 production a year

TheGuardian

Emissions from projects and companies backed by the City are nearly double those of the UK The amount of CO2 production financed by Britain’s banks and asset managers is nearly double the UK’s annual carbon emissions, according to a new report. The study, published by environmental campaign groups Greenpeace and WWF, shows the City provided loans and investments for projects and companies that emitted 805m tonnes of CO2 in 2019.

Study 110
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Does deglobalisation make economies more resilient to recessions?

BankUnderground

Marco Garofalo. Are less open economies more resilient to downturns? There is general agreement on the benefits of openness, but its adverse link to volatility is ambiguous. On the one hand, globalisation makes countries less sensitive to domestic disturbances, yet it also makes them more exposed to foreign shocks. In this post, I use local projections (LP) to show that international business cycles since 1870 appear to support a positive effect of openness on the economic resilience of a countr

Exercises 132
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Three innovative solutions shaping the future of the banking industry

Accenture

The Efma-Accenture Banking Innovation Awards are always a highlight of the year for me—and 2021 promises to be one of the most exciting competitions yet. As my colleague Alan McIntyre mentioned earlier this year, “Banks in 2020 were forced to make years’ worth of technology and business model changes in a matter of months.” So,…. The post Three innovative solutions shaping the future of the banking industry appeared first on Accenture Banking Blog.

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Weekly Wrap: KeyBank ramps up RPA use, Wall Street questioned by U.S. Senate

BankInovation

Bank Automation News spoke with KeyBank this week on how the $176 billion financial institution is leveraging robotic process automation (RPA) tools to automate its internal processes across commercial credit, consumer lending, commercial lending, the contact center, ACH payments, human resources and finance. KeyBank signed deals with Automation Anywhere in 2017, and with UiPath in 2020, to provide automation tools […].

Lending 98
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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.