Thu.Aug 24, 2023

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Expanding Your Loan Trading Network: 4 Lessons from Apple

Jack Henry

In today’s interconnected world, it’s crucial to expand your loan trading network to open doors to new opportunities, collaboration, and resources that can drive growth and success. One company that has excelled in this area is Apple. Over the years, Apple has demonstrated the ability to leverage partners, expanding its network to achieve unparalleled success.

Apple 78
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Swift makes progress on some G20 cross-border payments goals

Payments Dive

The international cooperative reports improvements in meeting some G20 cross-border payments goals, but says the industry is falling short on others.

Payments 368
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Q&A: What “higher for longer” interest rates mean for U.S. financial institutions

Abrigo

Adapting to higher interest rates What does the "higher for longer" scenario for interest rates mean for U.S. financial institutions and borrowers? Experts from Derivative Path discuss rate implications. You might also like this webinar on tracking and monitoring deposit behaviors in the new environment. WATCH Focus on liquidity Ongoing volatility: Protect the balance sheet The Federal Reserve’s latest 25 bp rate hike on July 26 has pushed short-term interest rates to the highest level in 22

Strategy 195
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PayNearMe partners with Dollar General

Payments Dive

The deal increases PayNearMe's retailer footprint by one-third, bringing the ability to pay bills in cash to more Americans.

Retail 369
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Elevating Accounting Practices: The Power of Outsourcing and Automation in the Digital Age

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.

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The Banking Crisis of 2023 is Over — Time to Get Back to the Crisis of the ’20s

Gonzobanker

This decade-long crisis touches banks’ products, technologies, people, processes and the political climate. In an article titled Is the Banking Crisis Over? We Are About to Find Out , the Wall Street Journal identified three concerns that could determine if the banking industry is out of the crisis or still in one: Deposit costs. High interest rates have forced many banks to pay more to retain deposits (often via brokered deposits), while many institutions have seen deposits flee to higher-yield

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Agile and DevOps in banking today

BankInovation

In the rapidly evolving world of banking and financial services, Agile and DevOps methodologies have emerged as essential tools to drive innovation and stay ahead of the competition.

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This week’s podcast episode: A look at the growing use of generative artificial intelligence and chatbots in consumer financial services, with special guests Ron Shevlin, Chief Research Officer, Cornerstone Advisors, and Reggie Young, Product Counsel, Lithic

CFPB Monitor

We first look at what generative AI is and how it differs from other types of AI and technology such as machine learning. We then look at the ways in which banks and fintech companies can deploy AI tools and the business use case for banks and fintechs considering the addition of chatbots, including how chatbots differ from voice response units. .

Tools 78
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How do firms pass energy and food costs through the supply chain

BankUnderground

Hela Mrabet and Jack Page The rise in commodity prices after Russia’s invasion of Ukraine had a direct and noticeable impact on consumers’ bills for energy and food. But firms also felt the brunt of higher costs. How did firms pass on these cost shocks through the supply chain and all the way onto consumer prices? How much and how quickly can firms pass through such large cost shocks?

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Ballard Spahr to hold special webinar roundtable on Oct. 17 on SCOTUS oral argument in CFSA v. CFPB

CFPB Monitor

The U.S. Supreme Court will hold oral argument on October 3, 2023 in Community Financial Services Association of America Ltd. v. Consumer Financial Protection Bureau , a case we have been following closely on Consumer Finance Monitor because of its profound potential implications for the future of the CFPB. In the case, the Court will rule on whether the CFPB’s funding mechanism violates the U.S.

America 78
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Digital Transformation: Accelerating ROI and Growth in Commercial Lending

Now is the time for lenders to prioritize their digital transformation initiatives in preparation for the lending rebound. Rising competition and ever-increasing customer demands for speed and efficiency are forcing financial institutions to embrace digital transformation. This shift can feel overwhelming—where do you begin? This infographic illustrates automation demands and shows you how loan document automation serves as an essential step to increase profits and provide the best lending exper

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ResearchAndMarkets launches Europe POS Payment Methods 2023 report

The Paypers

ResearchAndMarkets has rolled out the ‘Europe POS Payment Methods 2023’ report, detailing how digital wallets and other POS payment methods gain popularity over cash.

Report 69
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At long last — and over banks' protests — CRA reform is afoot

American Banker

Banking regulators have been debating how to reform the implementing regulations for the Community Reinvestment Act across two presidential administrations. But despite banks' urging to slow down, regulators are poised to finish the job in early fall.

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Zorrz partners with Sileon for BNPL

The Paypers

UK-based fintech Zorrz Finance has announced a partnership with Sweden-based company specialising in card-based Buy Now, Pay Later (BNPL) functionality, Sileon.

Fintech 67
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Are payment executives too hot on advanced AI?

American Banker

Investment in machine learning is outpacing consumer interest on the ground. Here's what companies like FIS and Marqeta are doing while waiting for demand to catch up.

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The State of Automation in Financial Services 2024 Report

In this report, you’ll find a comprehensive analysis of survey responses from executives at banks, credit unions, and insurance companies concerning their organization’s current and future use of automation. The report’s key insights include: Which types of automation are saving organizations the most time and money How to overcome the biggest barriers to automation implementation and adoption Why automation investments will continue to grow over the next few years How much you could save in 202

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Goldman mulls selling wealth unit in revamp | Yahoo buys CommonStock | Citi notes surge in digital asset adoption

Bussman Advisory

Join our community of 50,000+ subscribers and stay informed on the latest trends and news in the FinTech & AI world with the weekly newsletter provided by Bussmann Advisory. Gain insights into disruptive technologies, industry updates, and success stories from our portfolio companies. This week’s must-know stories: Goldman Sachs weighs selling part of wealth business in broad strategy revamp Yahoo acquires social investing platform CommonStock Citi survey finds significant jump in

Fintech 52
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Does a spat between fintech founders spell doom for the company?

American Banker

A co-founder of Totem, a neobank for Native Americans, initiated legal action against his counterpart. Disputes are not uncommon in the startup world.

Company 69
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Nvidia’s data centers drive record revenue

BankInovation

Chipmaker Nvidia has seen demand for its data centers, AI services and graphic processing unit [GPU] rise as companies consider integrating AI into operations. The company recorded data center revenue of $10.

Data 52
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The lawsuit targeting the Fearless Fund is part of a disturbing trend

American Banker

While federal efforts to provide funding for minority small businesses wither, a lawsuit seeks to shut down an effective source of private capital.

Trends 69
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Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance

Commercial lending is on the verge of a resurgence, but traditional processes are an obstacle. Explore the top 3 reasons for resistance to digital transformation and how overcoming them can pave the way for growth and efficiency. Discover why embracing automation and digital solutions is crucial for success in today's competitive landscape. Discover how GoDocs helps commercial lenders in the digital era with seamless integration and a borrower-focused approach.

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DataArt joins The Payments Association

The Paypers

DataArt , a global software engineering firm, has announced its membership to The Payments Association , aiming to enhance compliance measures and deliver solutions in the payments industry.

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Failed merger and federal investigation weigh on TD's earnings

American Banker

After terminating a $13.4 billion acquisition of First Horizon in May, TD Bank disclosed a federal investigation of its anti-money laundering controls during the bank's third-quarter earnings.

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Decisions secures SOC2 Type 2 compliance and HIPAA certification

The Paypers

US-based process automation platform Decisions has attained SOC2 Type 2 and HIPAA certification to prove its adherence to standards of data security and privacy for customers.

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Fed ends enforcement action against HSBC for FX trading scandal

American Banker

Front-running schemes by the bank's foreign exchange desk defrauded clients of millions of dollars. In 2017, the Federal Reserve cited the lackluster oversight for failing to stop it.

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2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

As we step into 2024, the lending landscape evolves rapidly with technology, regulations, and market dynamics driving change. For banks and financial institutions to stay competitive and meet the evolving needs of their customers, these drivers must be understood and engaged with. Lenders can anticipate significant transformation fueled by technological advancements, regulatory shifts, and changing consumer behaviors.

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Krakowski Bank Spó?dzielczy partners with Diebold Nixdorf

The Paypers

Krakowski Bank Spółdzielczy (KBS) has partnered with Diebold Nixdorf to implement the DN Series self-service ATM solution, aiming to meet the evolving demand of its customers.

ATM 36
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JPMorgan wins ruling that leveraged loans are not securities

American Banker

The decision by the 2nd U.S. Circuit Court of Appeals in Manhattan came in a securities fraud lawsuit brought by a trustee for note purchasers in a 2014 syndicated loan deal led by JPMorgan Chase.

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EIF commits more than EUR 40 mln to SME Finance

The Paypers

The European Investment Fund (EIF) has granted more than EUR 40 million to SME Finance via InvestEU for micro-business growth in Baltics, Finland, and Netherlands.

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RBC faces tough questions after bad quarter at LA-based City National

American Banker

The company's U.S. banking unit, which focuses on wealth management, reported a $38 million quarterly loss. Executives said they're cutting staff in an effort to right the ship, but analysts questioned whether the expense cuts are aggressive enough.

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Top 10 Benefits of Automating Loan Modifications for Commercial Lenders

Get ready for the wave of $1.2 trillion in commercial debt maturing in the next 24 months with GoDocs' ModDocs® platform. Traditional loan modifications are slow, expensive, and prone to errors, which put lenders at risk. But with ModDocs®, you can enjoy an innovative solution that eliminates attorney fees, allows on-the-fly loan modifications, and ensures compliance.