October 25, 2021
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News for marketers, creatives and communications professionals in financial services
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Top Story
Bitcoin reached an all-time high after Tuesday's launch of the ProShares Bitcoin Strategy exchange-traded fund, but JPMorgan Chase strategists say the rise has been caused by investors' inflation concerns. The strategists contend the cryptocurrency is increasingly regarded as a better inflation hedge than gold.
Full Story: BNN Bloomberg (Canada) (10/20),  Cointelegraph (10/21),  CNBC (10/21) 
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Financial Brand News
Plaid has announced a new venture into the payments sector by deploying its software to facilitate digital payments from consumers and business bank accounts, in a joint initiative with tech firms and payment processors such as Square and Stripe. The venture represents a renewed attempt to enter the sector after last year's planned sale to Visa was blocked by the Justice Department.
Full Story: The Wall Street Journal (10/21) 
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Citi commissions racial equity audit of bank
(Eugene Gologursky/Getty Images)
Citigroup has enlisted a law firm to carry out an independent racial equity audit of the bank to further the Action for Racial Equity initiative it launched last year. Vice President Edward Skyler said the audit aims to "help us assess the impact our work is having and will help inform how to adapt and grow our work to address the racial wealth gap."
Full Story: The Hill (10/22) 
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Creators: A megaphone to your customers
Creators can represent products and services to audiences beyond brand-owned media, most often with a wider and deeper reach than owned channels. In this November 4th session, learn how to approach the creator economy to seize this rapidly expanding marketing opportunity. Register now
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Digital Banking & Marketing Trends
Morgan Stanley says it has saved around 50,000 human work hours and $10 million in legal fees by using so-called robot lawyers to handle the heavy administrative burden of switching contracts away from Libor. Several other banks report successful use of AI in the transition process.
Full Story: BNN Bloomberg (Canada) (10/22) 
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Empower delivery of the best customer experience
Enabling contact center sales and service employees with an intuitive and guided digital experience is critical. Especially now, in our distributed workplaces, the experience can't be great if it's not personal and relevant. Find out how to provide employees with context, guidance, collaboration, and support for a great customer experience, every time during this upcoming webinar. Register Now
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Industry Pulse
The Department of Justice will collaborate with the Consumer Financial Protection Bureau and Office of the Comptroller of the Currency in a nationwide effort to curb redlining in banks' lending practices. Attorney General Merrick Garland said the initiative will look at lending practices "on a broader geographic scale than the Justice Department has ever done before."
Full Story: Reuters (10/22) 
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Media & Technology Trends
Former Interesting Development founder Paul Caiozzo and former Deloitte and Heat executives Mike Barrett and John Elder have founded a new agency named Supernatural, which they're calling the first "human-machine hybrid creative agency." Caiozzo explains that the agency's platform "helps make smarter decisions prior to the ad being created, during its creation and also while it's running in order to optimize," adding, "We can get to strategies very, very fast -- at the fraction of the time as another agency."
Full Story: Ad Age (tiered subscription model) (10/25) 
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Marketing Strategy
Reexamine customer's needs to maintain an edge
(Pixabay)
The pandemic has shown the value of regularly reviewing buyer experiences, as buyers needs' have dramatically changed. "By constantly asking your buyers what their preferences are, you'll keep a finger on the pulse of their tendencies and be in a position to adjust your strategy accordingly," writes Mark Thacker, president of Sales Xceleration.
Full Story: Entrepreneur (10/22) 
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Fear comes with imagination, it's a penalty, it's the price of imagination.
Thomas Harris,
writer
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