Sat.Jul 31, 2021 - Fri.Aug 06, 2021

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Insurance Operating Models Need to Put the Customer in the Middle (Part 2 of 5)

Perficient

In my last post, I discussed how insurance companies that demonstrate empathetic knowledge of their consumers and deliver tailored, real-time solutions will build on their noble purpose and gain competitive advantages in a digital operating environment. So, where can you begin? It starts with putting your customer in the middle of your operating model.

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How to make empathy part of UK banks’ digital skillset

Accenture

In this short series of blogs I’m exploring how the behaviour of UK financial services customers has changed amid the pandemic. In the first two posts, I drew on the UK findings of our Banking Consumer Study: Making digital more human to examine how COVID-19 has affected the shift to digital banking services across different…. The post How to make empathy part of UK banks’ digital skillset appeared first on Accenture Banking Blog.

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Community Bank Outlook: Challenges and Opportunities in 2021 and Beyond

Abrigo

How can community financial institutions thrive in 2021? Community banks provide unique and important banking services for their customers, but they also face significant obstacles. Would you like other articles like this in your inbox? Takeaway 1 Community banks play an important role in the economy and their communities, but they face significant obstacles.

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Rebeca Romero Rainey: Engaging with talent

Independent Banker

Photo by Robert Severi. The people we employ embody our banks, and the personal relationships our teams forge with our customers make us unique in the industry and keep our customers returning. COVID-19 was an experiment in forced change, and now that we’re transitioning into a new norm, we’re grappling with what’s next. We know we cannot just backtrack to where we were in early 2020; we need to develop a new, post-pandemic mindset.

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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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Federal Reserve Extends FedNow Service Comment Period

Perficient

Do blog readers like to have their opinions heard? For those that do, the Federal Reserve Board has announced it will extend, until September 9, 2021, the comment period for its proposal to govern funds transfers over the Federal Reserve Banks’ FedNow Service. The FedNow Service is a new 24x7x365 service that will support instant payments in the United States and is expected to be available in 2023.

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Top Challenges and Hot Topics: Key Considerations for Today’s BSA/AML Professionals

Abrigo

Survey: Top Challenges and Trends for BSA/AML Professionals Abrigo's 2021 FinCrime survey benchmarks obstacles and trends for BSA/AML and fraud professionals. Want to see more results from the 2021 FinCrime Survey? Register for the webinar: Register Now. Takeaway 1 Managing false positives and keeping up-to-date on regulatory changes continue to be a challenge for financial institutions.

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The Libor Absurdity Continues

SWBC's LenderHub

"Each year, the Great Pumpkin rises out of the pumpkin patch that he thinks is the most sincere. He's gotta pick this one. He's got to. I don't see how a pumpkin patch can be more sincere than this one. You can look around and there's not a sign of hypocrisy. Nothing but sincerity as far as the eye can see." – Linus Van Pelt, It’s the Great Pumpkin Charlie Brown!

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2 tips for designing a customer-centric ATM UI

ATM Marketplace

If you want to have an effective ATM UI, here are two tips for success.

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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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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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Small bank seeds green lending with assist from fintech

American Banker

Lending 101
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Market Commentary: Week of August 2, 2021

SWBC's LenderHub

Last Week. The highlight of the week was the July FOMC meeting and announcement. Importantly, there was some language change that acknowledged the continued progress made by the economy and that they are now actively looking at the data to decide when to begin tapering.

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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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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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Ripple's blueprint to modernize Europe's payments infrastructure

American Banker

Payments 101
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BIS proposes cross-border payment solution

BankInovation

The Bank for International Settlements (BIS) released a proposal this week that aims to break down obstacles to international payments presented by technology differences. Until now, instant transactions made from a sender in one country to a recipient in another have been plagued by tech challenges. While Instant Payment Systems (IPS) like Zelle and Venmo […].

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Goldman Sachs raises pay for junior bankers after 100-hour week complaints

TheGuardian

Increases are thought to apply to three most junior positions across investment bank Goldman Sachs is increasing pay for its junior bankers, months after graduates raised concerns over “inhumane” working conditions and 100-hour weeks. The Guardian understands that the salary increases apply to the three most junior positions across the investment bank, with first-year analysts – who previously received about £50,000 in base pay – set to see their pay rise to $110,000 (£79,000) before bonuses.

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Accelerated: Teslar and Bank of Zachary

William Mills

We're back with a new episode of Accelerated, a podcast series that gives a behind-the-scenes look at how fintech-banking deals are made and why they’re important.

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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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Nebraska bank teams with fintech to help businesses avoid cash crunches

American Banker

Nebraska 101
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Chilean fintech looks for slice of giant money transfers market

BankInovation

Chilean fintech Global66 is tapping into the vast pool of remittances and money transfers sloshing around Latin America, hoping a new wave of products will give it an edge over a hoard of competitors. The start-up that employs 200 people in eight different countries plans to use its latest funding round to promote a new […].

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UK finance giants plan to buy out fossil fuel plants in order to shut them

TheGuardian

Climate campaigners say HSBC’s involvement is ‘cynical’ attempt to distract from investments in coal power A group of the UK’s biggest financial institutions plan to hasten the phasing out of coal power in Asia by buying out fossil fuel plants in order to shut them down within 15 years. Finance companies including lenders HSBC , Citi and BlackRock Real Assets together with UK insurer Prudential are working with the Asian Development Bank on the plans, according to a report by Reuters.

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Finding the right trailer for your horse – and for you!

FirstInternet

Getting ready to purchase a horse trailer? There’s a lot to consider: among other things, the safety of your horse or horses, over-the-road comfort for you both and the financial investment required for this added mobility. Buyers are faced with seemingly unlimited choices in size, style and price points for new or used trailers alike. How do you choose one that is right for you?

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It Takes Two to Tango

With automation, you’ll reduce errors and save valuable time, allowing you to focus on what really matters: strategic analysis and insightful decision-making. Picture accurate financial reports ready at your fingertips, giving you the confidence to tackle business challenges head-on. Embracing automation not only boosts productivity but also elevates your role from number cruncher to closing rockstar.

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California announces deal to treat fintech's ISAs as student loans

American Banker

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Wells Fargo asks developers to update to new API

BankInovation

Wells Fargo is asking those who connect via its API to migrate from its token-based API to the OAuth 2 API, which adds “an additional layer of security by requiring a digital certificate,” Wells Fargo said in an alert sent to developers today. Those using Wells Fargo’s API have until Oct. 31, when the token […].

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Banks failing to properly help victims of fraud, says Which?

TheGuardian

Survey found customers who had been victims of scams often struggled to contact their bank The UK’s biggest banks are failing to properly help fraud victims , leaving them “feeling abandoned at a time of crisis and exposed to future scams”, the consumer group Which? has claimed. Which? found that customers often struggled to contact their bank after they had been a victim of a scam, including one HSBC customer who waited a total of seven hours on hold and racked up a £50 phone bill.

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The State Of Fintech Q2’21: Investment Trends To Watch

CB Insights

The post The State Of Fintech Q2’21: Investment Trends To Watch appeared first on CB Insights Research.

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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.