Sat.May 29, 2021 - Fri.Jun 04, 2021

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The Digital Customer is Here to Stay – Five Principles to Keep Them Engaged

Accenture

In my first blog in this short series on how the behaviour of UK financial services customers has changed amid the pandemic, I looked at the way COVID-19 has accelerated consumers’ migration to digital banking services. And I drew on the UK findings from our Banking Consumer Study: Making digital more human to examine the….

Study 526
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Should Banks Adopt Embedded Lending?

CB Insights

As the pandemic has pushed more financial transactions online, embedded lending — which lets retailers and other non-financial businesses offer lending products to customers — is gaining traction. Today, businesses seeking loans typically go through traditional banks or lenders, which require lengthy processes to determine creditworthiness.

Lending 59
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How Cryptocurrency is Affecting BSA Initiatives

Abrigo

Cryptocurrency continues gaining traction. As the cryptocurrency industry continues to expand, financial institutions must remain vigilant to thwart cybercriminals. Want more BSA training and articles emailed to you? Takeaway 1 The cryptocurrency industry has expanded quickly. Cybercriminals have caught on. Takeaway 2 While crypto crime fell in 2020, there are many risks financial institutions must be aware of.

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The Value of Data Lineage in Financial Services (Part 1 of 4)

Perficient

Over the next few blog posts, I will share how you can supercharge your firm’s data governance programs by leveraging data lineage capabilities. The information I will share with you is based on many years of experience leading and supporting large data governance initiatives in financial institutions. Whether you’re in commercial, retail, or investment banking, asset management, capital markets, payments, or insurance, you can benefit from the use of data lineage concepts, approaches, and tools

Data 294
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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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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….

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Hot Topics: How to Prepare for Your Next BSA Exam

Abrigo

Prepare for your BSA exam by following these tips Getting ready for your upcoming BSA examination takes planning and thinking through several issues. Here's a guide to help. Want more BSA training and articles emailed to you? Takeaway 1 The first step to BSA exam preparation is to review regulatory guidance from the FFIEC and FinCEN. Takeaway 2 Good communication with your BSA examiner and having a team plan are key aspects of exam preparation. .

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Bitcoin ATMs take center stage

ATM Marketplace

Although bitcoin has taken a hit recently due in part to recent comments from Tesla CEO Elon Musk, the cryptocurrency still shows no sign of disappearing. In fact, bitcoin ATMs are still growing dramatically.

ATM 138
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Are you empowering relationship managers to serve digitally savvy commercial banking clients?

Accenture

The other day I was chatting with an executive at a major UK commercial bank. And they made an observation that echoed many of their counterparts in other institutions. “I don’t want us to spend the next two years simply dealing with the aftermath of the pandemic,” they explained. “Instead, we need to focus on…. The post Are you empowering relationship managers to serve digitally savvy commercial banking clients?

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Rebeca Romero Rainey: Staying the course

Independent Banker

Photo by Robert Severi. We must work to remain optimistic in the face of adversity and keep in mind that no matter how difficult that feat may be, it’s worth the effort. When I transitioned from a community bank CEO to ICBA president and CEO, my team gave me a beautiful handmade card with notes and best wishes. On the front is a favorite quote of mine from French writer Anatole France: “To accomplish great things, we must not only act, but also dream; not only plan, but also believe.

Course 104
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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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Non-Profit Group Backs Digital Payments Firm with $15M

Banking Exchange

US non-profit invests in Airtm in bid to open cross-border digital payments and foreign currency transactions in Latin America Payments Technology Feature3 Fintech Feature Duties.

Groups 99
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NFC vs RFID: What's the difference?

ATM Marketplace

In the contactless industry, we often hear people talk about the difference between near field communication, NFC, and radio frequency identification, RFID. However, there are both differences and similarities between them.

Industry 104
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Fresh auto finance approach boosts market share

Accenture

It’s time to reimagine the auto loan and leasing process. With all the digital tools at our disposal, buyers expect a process that’s fast and transparent. And it could mean a huge increase in market share for auto lenders willing to seize the opportunity. I recently went with my son to purchase his first car—and…. The post Fresh auto finance approach boosts market share appeared first on Accenture Banking Blog.

Marketing 274
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Revisiting the New Keynesian policy paradoxes under QE

BankUnderground

Dario Bonciani and Joonseok Oh. In the wake of the global financial crisis in 2008, nominal interest rates in the US and other advanced economies have approached the effective lower bound (ELB). This fact has motivated new research to understand, both theoretically and empirically, the impact of monetary policies when the nominal policy rate is at the ELB.

Policies 110
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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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45 Years in Business – A Look Back at Where It All Started and Where We Are Today

Jack Henry

This year, Jack Henry & Associates, Inc.® (Jack Henry) is celebrating 45 years of being in business. Since the start of the company, a lot has changed – not just technology, but the way in which people do business has changed (especially this last year). However, even with all of the change that both the company and the world has experienced over the last nearly five decades, there are some things that have remained constant at Jack Henry.

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The empty office: what we lose when we work from home

TheGuardian

For decades, anthropologists have been telling us that it’s often the informal, unplanned interactions and rituals that matter most in any work environment. So how much are we missing by giving them up? In the summer of 2020, Daniel Beunza, a voluble Spanish social scientist who taught at Cass business school in London, organised a stream of video calls with a dozen senior bankers in the US and Europe.

Video 101
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Winds of change: How climate risk is shifting regulatory roles

Accenture

Executive Summary Central banks and regulators around the world know climate risk constitutes a growing risk to financial stability. In their role to enable, manage and supervise financial sector (FS) participants in dealing with environmental risks, a number of them have focused on several crucial areas. Many, however, have been less proactive. They should consider….

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The differing effects of globalization on trade versus migration

BankUnderground

Rebecca Freeman and John Lewis. Compass on old map. Better communications, enhanced transport links, integration agreements between governments, and other factors have all helped increase global economic interconnectedness over the past few decades. Yet, comparing a state-of-the-art gravity model for trade versus migration reveals important differences in the evolution of globalization over time on flows of goods versus people.

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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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Temenos inks cloud partnership with Huawei, eyes expansion in China, Asia-Pacific

BankInovation

Bank software provider Temenos is eyeing an expansion into the Chinese market under a deal inked with IT giant Huawei, announced Thursday. Temenos will offer its cloud-native core banking platform on the Huawei public cloud under a new partnership announced at the Huawei Intelligent Finance Summit 2021 held in Shanghai, China. The cloud-native offering, rolled […].

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Cryptocurrency dealers face closure for failing UK money laundering test

TheGuardian

Up to 50 companies dealing in digital assets such as bitcoin could be forced to stop trading immediately Up to 50 companies dealing in cryptocurrencies such as bitcoin may be forced to close after failing to meet the UK’s anti-money laundering rules. The Financial Conduct Authority, the City regulator, announced on Thursday that an “unprecedented number” of companies had withdrawn applications from a temporary permit scheme that allowed firms to continue trading until the regulator could green-l

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A Hand Up with a Down Payment

ABA Community Banking

Banks help first-time borrowers tackle the high cost of homeownership. The post A Hand Up with a Down Payment appeared first on ABA Banking Journal.

Payments 107
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2 digital banking trends to follow post-pandemic

ATM Marketplace

While physical branches aren't going anywhere anytime soon, in order to suceed in the post-pandemic world, they will need to adjust to two major digital banking trends.

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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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Weekly Wrap: FDIC’s new chief innovation officer weighs in on AI

BankInovation

In this week’s episode of "The Buzz," Bank Automation News tackles the question of what banks can expect from regulatory agencies when it comes to deploying artificial intelligence (AI) in financial services. AI may offer a competitive advantage for U.S. companies, Sultan Meghji, the FDIC’s new chief innovation officer, told BAN. And while he said […].

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Biden corporate tax plan could earn EU and UK billions, study shows

TheGuardian

EU forecast to reap extra €50bn per year with UK expected to gain €200m from BP alone A proposal to be tabled by the US president, Joe Biden, at the upcoming G7 meeting for a 15% global corporate tax rate could reap the EU €50bn (£43bn) a year, and earn the UK nearly €200m extra alone from the British multinational BP, according to research. Should the tax rate be set higher at 25%, the lowest current rate within the seven largest world economies, the EU would earn nearly €170bn extra a year – m

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Two senior officials reported to be leaving CFPB

CFPB Monitor

According to an American Banker report, two senior CFPB officials, Bryan Schneider and Peggy Twohig, will be leaving the Bureau in the coming weeks. Mr. Schneider has been serving as Associate Director of Supervision, Enforcement and Fair Lending. He was named to the position by former Director Kraninger. Ms. Twohig has been serving as Assistant Director of Supervision Policy and Strategy.

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Traditional Lenders Outperform Fintechs in Consumer Lending

Banking Exchange

JD Power’s survey reveals high satisfaction with traditional banks that have moved into digital The Economy Technology Financial Trends Feature3 Fintech Feature Retail Banking Covid19.

Fintech 78
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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