Accenture

SEPTEMBER 20, 2021

This summer I did something extraordinary. I unplugged. Really unplugged. Over the course of nearly two months, my 11-year-old son Evan and I traveled over 11,000 miles from Charlotte, NC, to the Oregon coast and back hauling a vintage 1971 Airstream camper. No, I’m not unemployed or transitioning between jobs. I lead a major business unit…. The post How a long road trip made me a better leader appeared first on Accenture Banking Blog.

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Abrigo

SEPTEMBER 22, 2021

CECL disclosure requirements for 2023 filers and others New disclosures are required under CECL in some cases. Here’s how they’re changing for financial institutions. See below for key takeaways of this article. Stay updated on all things CECL. 1. New Disclosures Under CECL CECL disclosures play a central role in the new standard, but many financial institutions begin work on them too late in the process.

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Jack Henry

SEPTEMBER 23, 2021

Text messaging is one of the most popular ways for users to reach friends and family. With its immediacy and simplicity, it seems like an obvious way for banks and credit unions to send alerts, updates, and more. And yet, text messaging has relatively few viable use cases in financial services today. Instead, authenticated, augmented chat has taken center stage as a way for institutions to connect with accountholders quickly and easily.

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CFPB Monitor

SEPTEMBER 20, 2021

On September 17 th , the Consumer Bankers Association, the American Bankers Association, and a large number of other financial trade associations sent a letter to Speaker of the House Nancy Pelosi (D-CA), Majority Leader Kevin McCarthy (R-CA) and other House Members opposing a proposal under consideration as part of the budget reconciliation package that would require financial institutions and other providers of financial services to track and submit to the Internal Revenue Service (IRS) inform

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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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Accenture

SEPTEMBER 22, 2021

Open Banking allows customers to share access to their banking data with trusted third parties, which then provide the customer with a better banking experience. Its adoption has been uneven around the world, with some regions quickly introducing it while others take a more cautious approach. Accenture research shows that 76% of banks worldwide expect customer adoption and….

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ATM Marketplace

SEPTEMBER 24, 2021

If there is one constant need for banks, it is the need to acquire new customers and to convert them into lifelong customers; however, accomplishing this task is no easy feat. A panel at the Bank Customer Experience Summit addressed how to create not just transactional customers, but rather relational.

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CFPB Monitor

SEPTEMBER 23, 2021

The CFPB has filed a lawsuit in a California federal district court against Credit Repair Cloud (CRC), a software company, and its owner, in which the Bureau alleges that the defendants provided substantial assistance to credit-repair businesses charging unlawful advance fees in violation of the Telemarketing Sales Rule (TSR) and the Consumer Financial Protection Act (CFPA).

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Accenture

SEPTEMBER 22, 2021

For the past 21 years, Accenture’s Banking Technology Vision has pinpointed the emerging tech trends with the greatest potential to disrupt businesses and the industry. I’ve been with Accenture for 16 of those years. Reading this edition of the Banking Tech Vision I felt it stood out from all the previous ones—especially from the perspective of the industry in the UK and Ireland.

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TheGuardian

SEPTEMBER 21, 2021

If Chinese property company Evergrande sinks under its $300bn debt its failure would resound across the global economy Evergrande Real Estate – or Heng Da Group in Chinese – owns more than 1,300 building projects in more than 280 cities across China. Continue reading.

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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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ATM Marketplace

SEPTEMBER 21, 2021

Digital banking is here to stay, but doing it properly requires the right practices and tools. Four experts at the Bank Customer Experience Summit, held in Chicago from Sept. 13 to 15, shared insights into how to succeed in various areas of digital banking.

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BankInovation

SEPTEMBER 23, 2021

Advance Intelligence Group, a technology startup led by former hedge fund manager Jefferson Chen, topped $2 billion in valuation after raising more than $400 million from investors led by SoftBank Vision Fund II and Warburg Pincus. Northstar, Vision Plus Capital, Gaorong Capital and EDBI also joined the Series D financing round, the company said in […].

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FICO

SEPTEMBER 24, 2021

Do FICO Scores Consider Telco and Utility Data? The unequivocal answer is yes! FICO® Scores have always considered telco and utility payment data that is furnished to the three nationwide U.S. credit bureaus : Equifax, Experian and TransUnion. The inclusion of telco and utility payment information dates back to the release of the very first FICO Scores in 1989.

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TheGuardian

SEPTEMBER 24, 2021

As debt-laden Chinese property giant enters 30-day grace period, officials look to limit unrest and job losses The embattled Chinese property developer Evergrande is inching closer to the potential default that investors fear, after missing an interest payment deadline. The company, which has total debts of about $305bn (£222bn), has run short of cash and investors are worried a collapse could pose systemic risks to China’s financial system and reverberate around the world.

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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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CFPB Monitor

SEPTEMBER 23, 2021

The Department of Justice announced earlier this week that it has entered into a consent order with the New Jersey Higher Education Student Assistance Authority (HESAA) to settle the DOJ’s claim that HESAA violated the Servicemembers Civil Relief Act (SCRA) by obtaining unlawful court judgments against two military servicemembers for amounts owed on student loans.

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BankInovation

SEPTEMBER 24, 2021

API integration provider and data network Plaid this week announced a new partnership with digital banking platform Q2 to offer customers a secure, reliable means to connect accounts to apps and services. It’s an alliance that will give developers at more than 500 banks and credit unions free access to the technology platform, Plaid spokesperson […].

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Banking Exchange

SEPTEMBER 22, 2021

‘Perpetuation of inequality is a deepening problem, while pace of technology is increasing’ says Acting Comptroller Compliance Technology Feature3 Feature Fintech Duties Diversity Digital Bank On Initiative.

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TheGuardian

SEPTEMBER 22, 2021

UK Finance says £754m stolen from bank customers in first half of 2021 as scammers capitalised on Covid Fraud victim scammed for almost £25,000 Coronavirus – latest updates See all our coronavirus coverage Fraud in the UK has risen to a level where it poses a “national security threat”, according to the main banking body, with £754m stolen from bank customers during the first half of this year – a 30% rise on the same period in 2020.

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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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CFPB Monitor

SEPTEMBER 22, 2021

The U.S. Court of Appeals for the Sixth Circuit recently ruled that the unconstitutionality of the 2015 TCPA amendment that created an exception to the robocall restriction for calls made to collect debts owed to the federal government did not invalidate the plaintiff’s claims for TCPA violations based on robocalls he received in 2019 and 2020 advertising utility services.

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BankInovation

SEPTEMBER 21, 2021

Perhaps the biggest business trend over the past several decades has been customer centricity, making the customer experience a top priority. Financial institutions continue to invest heavily in technologies that improve customer interactions and help to build long-term loyalty. But in today’s digital-first world where most interactions are increasingly on screen, we no longer have […].

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Banking Exchange

SEPTEMBER 22, 2021

Plus: Technology Credit Union hires chief credit officer, Guggenheim Securities expands consumer and retail investment team, and banking veteran joins Rochelle State Bank Management Feature Human Resources Feature3 Community Banking.

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TheGuardian

SEPTEMBER 19, 2021

Hong Kong stock fell almost 17% amid default fears that are beginning to have a knock-on effect on other markets Shares in the embattled Chinese property company Evergrande have plunged 17% as investors weigh up whether the group’s massive debt problems could trigger a broader sell off across all financial markets. Evergrande plunged to its lowest market value ever in Hong Kong on Monday, dragging the Hang Seng index down to its lowest point for nearly a year.

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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.

Analysis

CFPB Monitor

SEPTEMBER 20, 2021

AB-1864, which took effect on January 1, 2021 and significantly expanded the powers of the California Department of Financial Protection and Innovation, required the DFPI to establish a “Financial Technology Innovation Office.”. Adam Wright, Senior Counsel, recently joined the Department’s new Office of Financial Technology Innovation, having previously served as an enforcement attorney with the DFPI.

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BankInovation

SEPTEMBER 21, 2021

The $1.9 trillion Wells Fargo has selected banking software provider nCino’s technology platform to streamline loan origination, account opening, business process management, customer engagement and instant reporting. The San Francisco-based bank serves one in three U.S. households and more than 10% of all middle-market companies and small businesses in the United States.

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Banking Exchange

SEPTEMBER 20, 2021

$120 million pledged by anchor investors including Microsoft, Truist Financial and Discovery to support low- and moderate-income minorities and rural communities Feature Feature3 Socially Responsible Investing SRI Diversity Community Banking.

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TheGuardian

SEPTEMBER 22, 2021

Merrick Anderson was called by someone posing as a member of Lloyds Bank’s fraud department Fraud in UK at level where it ‘poses national security threat’ Merrick Anderson lost almost £25,000 through an authorised push payment fraud in March. The university fellow, who moved to the UK late last year, was called by a scammer posing as a member of the Lloyds Bank fraud department, who told him that the account he held there had been compromised.

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Community banks seek ways to leverage their technology infrastructure to drive productivity and growth. However, the sheer volume of technology devices, capital constraints, and lack of skilled resources stand in the way. This Strategy Brief explores how a managed device services partner can help bridge this resource gap. Managed device services partners empower community banks to take charge of mission-critical device management activities with: Logistics and installation services to support se

Community Bank