Sat.Jun 19, 2021 - Fri.Jun 25, 2021

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Robots Transforming Branch Experience

ATM Marketplace

Banks from across the world are beginning to use robots for tasks ranging from counting money to handling customer requests. These robots are not only simplifying tasks, they are also transforming the branch experience

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Creating Credit Opportunities with Open Banking

FICO

Smarter, faster, and fairer credit decisions are set to help drive opportunities and financial inclusion for millions more adults right across Europe. It’s all down to demand-driven innovation in advanced analytics and alternative data. Across Europe, legislation like PSD2 is driving the growth of a well-informed generation of digital-first, data-savvy customers who are directly benefitting from the opportunities Open Banking and the related financial ecosystems on offer.

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A Data Governance Maturity Model for Financial Services (Part 4 of 4)

Perficient

In my last blog post, I shared what a 360-degree view of data means when centered around data lineage principles. Today, in my final blog post of this data lineage series, I’ll discuss how Perficient’s Data Governance Maturity Model can help enhance your data programs. Given the power of data lineage to augment and enforce an established enterprise data management program, it often helps to have an experienced partner on the team.

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HSBC whistleblower claims vindication after bank’s £200m payout to customers

TheGuardian

Nicholas Wilson says redress scheme is a direct result of his campaign over excessive charges Nicholas Wilson has spent years pursuing HSBC over the way it treated some people who fell behind with payments, and when he claimed the bank might owe customers more than £200m, it arguably sounded pretty fanciful. For more than a decade he was ignored and dismissed but HSBC eventually set up a £4m compensation scheme to remedy “a historical issue”.

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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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Procyclicality mechanisms in the financial system: what we know and some open questions

BankUnderground

Robert Czech, Simon Jurkatis, Arjun Mahalingam, Laura Silvestri and Nick Vause. Financial markets reflect changes in the economy. But sometimes they amplify them too. Both of these roles were evident as the Covid-19 (Covid) pandemic materialised. As the economic outlook deteriorated, risky asset prices fell in reflection of that. And those falls were amplified as some investors reacted by liquidating assets.

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More Trending

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Beyond Responsible AI: 8 Steps to Auditable Artificial Intelligence

FICO

With novel artificial intelligence (AI) applications multiplying like rabbits these days, it may seem like the current wave of AI innovation is all beer and skittles. Lawsuits have a way of sobering up any metaphorical party and, in the wake of numerous high-profile racial bias and fairness cases, The Wall Street Journal reports that companies including Google, Twitter and Salesforce say they “plan to bulk up ethics teams responsible for evaluating the behavior of algorithms.”.

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Morgan Stanley to bar unvaccinated staff from New York offices

TheGuardian

Bank warns staff they have less than three weeks to take both Covid jabs or continue working from home Coronavirus – latest updates See all our coronavirus coverage Employees and visitors to Morgan Stanley will be barred from entering the bank’s New York offices unless they are fully vaccinated against Covid-19 from next month, as the Wall Street firm prepares to get staff back to their desks by early September.

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Nicolet Bank Buys Wisconsin Rival in $219M Deal

Banking Exchange

Fifth Third, Farmers National, and Accenture all announce acquisitions Management Feature M&A Feature3.

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The Fully Empowered Banker

ABA Community Banking

By focusing on employee empowerment, banks of all sizes are catalyzing innovation and a healthy workplace culture. The post The Fully Empowered Banker appeared first on ABA Banking Journal.

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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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Pro Tips for Modeling ALM Buzzwords

Jack Henry

Over the past year, the banking industry has seen many unprecedented events that have resulted in both margin- and capital-related challenges. The flat, ultra-low yield curve coupled with the bloated growth of non-maturity deposit balances have many banks considering how to best deal with the current reality. To forecast strategic and economic impacts on key metrics, banks continue to rely heavily on financial modeling using various tools available.

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New £50 note featuring Alan Turing goes into circulation

TheGuardian

Note honouring mathematician, computer pioneer and codebreaker contains advanced security features The new £50 note goes into circulation on Wednesday – but with consumers increasingly going cashless, for millions of people it may be months or even years before they see or touch one. It’s been around for 40 years, but the £50 note doesn’t have a great image: there is a perception that aside from some overseas tourists, the only people who use them are criminals, tradespeople looking to evade tax

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A $130M crypto quant nets big returns as options boom

BankInovation

Forget Elon Musk tweets, regulatory missives and Bitcoin’s energy consumption. To hedge fund manager Shiliang Tang, the biggest crypto story this year is taking place in the shadows: An options market that’s booming and shaking up digital-currency trading along the way. At his $130 million fund LedgerPrime, filled with Wall Street converts from the likes […].

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CECL’s First Wave Offers Insights for Smaller Banks

ABA Community Banking

Many banks have until January 1, 2023 before they must implement the current expected credit loss standard, or CECL. But it’s not too soon to start gleaning lessons from larger institutions that are already utilizing the new standard. The post CECL’s First Wave Offers Insights for Smaller Banks 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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Returning to the Office in Financial Services

Cisco

How organizations can provide safe environments and smart spaces – part 1. Ready to roll up your sleeves and get back to the office? Many employers are eager to get their workforce under one roof. CEOs like Goldman Sachs’ David Solomon and JPMorgan Chase’s Jamie Dimon have announced their current remote workforce will soon return to the office either full time or in a hybrid model.

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Banks must guarantee access to cash for everyone, says Age UK

TheGuardian

Millions of older and vulnerable people cut off from ATMs and banking services, charity finds Banks must move swiftly to guarantee access to money for everyone as the cash system in part of the UK veers towards market failure, a national charity has said. Age UK warned that millions of UK citizens are cut off from cash and banking services. The lack of facilities is causing many to fall victim to financial abuse after being forced to rely on others to make transactions on their behalf, the chari

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‘Credential stuffing’ attacks on the rise at banks

BankInovation

Cybersecurity firm Akamai has seen a 45% year-over-year increase in automated “credential stuffing” attacks, which use stolen user names and passwords to specifically target financial institutions. The financial services industry is one of the hardest hit when it comes to this form of attack, said Steve Ragan, a security researcher at Akamai, a cybersecurity and […].

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Commercial Card Growth in a Post COVID-19 Environment Outline

Banking Exchange

As the economy recovers we are seeing an emergence of the usage of commercial cards by businesses Payments Duties Lines of Business Mobile Online Cards Covid19 Feature Feature3.

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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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RD Legal Funding asks SCOTUS to decide if CFPB can ratify pre-Seila Law actions

CFPB Monitor

RD Legal Funding has filed a petition for a writ of certiorari in the U.S. Supreme Court that asks the Court to decide whether the CFPB can ratify actions taken when it was unconstitutionally structured. A New York federal district court had dismissed the enforcement action against RD Legal filed jointly by the CFPB and New York Attorney General, ruling that the CFPB’s structure was unconstitutional and that the proper remedy for the constitutional violation was to invalidate Title X in its ent

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Market Commentary: Week of June 21, 2021

SWBC's LenderHub

Last Week: The Fed produced quite a bit of drama last week, first with the FOMC statement and press conference, then with Fed president James Bullard discussing tapering of the Fed’s $120 billion a month quantitative easing program. Essentially, the Fed told us that based on the current economic data they might curtail their super-accommodative, emergency monetary policy by a tiny amount a little earlier than expected, as in, perhaps a year from now as opposed to 2 years.

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BNY Mellon expands automated liquidity management solution with cross-currency sweeps

BankInovation

BNY Mellon is expanding its cash-management solutions by tacking on cross-currency sweeps, allowing clients with cash holdings in multiple currency accounts to concentrate them into their preferred base currency.?The automated liquidity-management tool was launched today and can help reduce internal cash management costs and risks. “Sweeping” refers to the process of moving cash balances from […].

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Banks Beat Fintech Rivals on Digital Trust

Banking Exchange

Traditional US financial institutions such as Capital One and TD are still favored over PayPal, Visa and Amazon to deliver digital banking solutions Retail Banking Financial Trends Duties Feature Lines of Business Technology Feature3 Fintech PPP Covid19.

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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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SCOTUS decision on FHFA’s constitutionality could provide support for validity of pre-Seila Law CFPB actions

CFPB Monitor

In its decision earlier this week in Collins v. Y ellin (previously captioned Collins v. Mnuchin ), the U.S. Supreme Court, relying on its decision in Seila Law , held that the Federal Housing Finance Agency’s structure is unconstitutional because the Housing and Economic Recovery Act of 2008 only allows the President to remove the FHFA’s Director “for cause.

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How RegTech is Improving Efficiency in the Financial Services Industry

SWBC's LenderHub

Regulatory technology, or RegTech, was developed in the wake of the FinTech revolution and has been continuously expanding since the financial crisis of 2008. Experts predict it will rapidly advance the regulatory landscape by offering technological compliance solutions for the highly regulated financial services industry.

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How Bitcoin ATMs Can Benefit Your Business

ATM Marketplace

Bitcoin ATMs are quickly becoming more common. But how beneficial are they to your business? Ayman Rida, CEO of Cash2Bitcoin, discusses this and more with Bradley Cooper, editor of ATM Marketplace.

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Scale Up Smaller Banks to Address Inequity, Says Milken

Banking Exchange

Think tank research details how corporations, financials, non-profits and governments can leverage mission-focused lenders to help underbanked communities Community Banking Feature3 Feature Management People Diversity.

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3 Ways Managed Device Services Help Community Banks Cut Costs

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