BankInovation
MARCH 5, 2024
Technology buzz, both inside and outside the banking industry, is centered on innovation — including the ongoing ramp of cloud migration and the excitement around the promise of AI, the new kid on the block.
Payments Dive
MARCH 5, 2024
The mega processor has signed up 200 banks for FedNow, but now its clients are in search of use cases.
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South State Correspondent
MARCH 5, 2024
Several measurable factors drive loan (and, by extension, bank) profitability, including loan size, credit quality, term, cross-sell, and upsell. In this article, we will consider how and why loan size is one of the most significant drivers of profitability for community banks and what community banks can do to improve performance. Relationship Between Loan Size and Profitability Four primary factors drive the relationship between loan size and return on assets (ROA)/ return on equity (ROE).
Payments Dive
MARCH 5, 2024
The point-of-sale attack on a merchant processor may have compromised card numbers, expiration dates and cardholder names, Amex said in a state regulatory filing.
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.
South State Correspondent
MARCH 5, 2024
Several measurable factors drive loan (and, by extension, bank) profitability, including loan size, credit quality, term, cross-sell, and upsell. In this article, we will consider how and why loan size is one of the most significant drivers of profitability for community banks and what community banks can do to improve performance. Relationship Between Loan Size and Profitability Four primary factors drive the relationship between loan size and return on assets (ROA)/ return on equity (ROE).
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
TheGuardian
MARCH 5, 2024
Whatever Jeremy Hunt says, traders know the rich will get richer and the poor will get poorer. And they’re paid millions to bet on it In May 2010, I lost $8m in a week. I was 23 years old. Back then, I was an interest rates trader for Citibank in Canary Wharf. I had won that job only three years earlier in a card game while I was a maths student at LSE.
Payments Dive
MARCH 5, 2024
“While we respect the European Commission, the facts simply don’t support this decision. And as a result, Apple will appeal,” the tech giant said Monday.
TheGuardian
MARCH 5, 2024
Citi, BofA, JPMorgan Chase and Wells Fargo leave framework that assesses environmental, social and governance (ESG) financing Four of the world’s biggest banks have left the Equator Principles, a set of minimum industry standards and safeguards for financial institutions to address environmental and social risks in countries where they finance fossil fuel and mining projects.
Payments Dive
MARCH 5, 2024
The tech giant is fighting “tooth and nail” to protect its commission from in-app purchases, Consumer Reports Senior Researcher Sumit Sharma said.
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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
CFPB Monitor
MARCH 5, 2024
Today, the CFPB issued its final credit card late fee rule. As we expected, the final rule was released prior to President Biden’s March 7th State of the Union address. The final rule reduces the late fee safe harbor amount to the proposed $8 amount and eliminates automatic annual inflation adjustments for issuers subject to the reduced safe harbor amount. .
American Banker
MARCH 5, 2024
Bill Demchak, in a panel hosted by Brookings on Tuesday, said that last year's bank failures wouldn't have happened if the Office of the Comptroller of the Currency had been the supervisor.
CFPB Monitor
MARCH 5, 2024
On February 29, 2024, the Consumer Financial Protection Bureau (“CFPB”) issued Consumer Financial Protection Circular 2024-01, Preferencing and steering practices by digital intermediaries for consumer financial products or services. The Circular advised that: “[o]perators of digital comparison-shopping tools can violate the [Consumer Financial Protection Act (CFPA)] prohibition on abusive acts or practices if they distort the shopping experience by steering consumers to certain products or serv
American Banker
MARCH 5, 2024
Banks and trade groups denounced the Consumer Financial Protection Bureau's final rule to cut credit card late fees to $8, saying they will do everything possible to kill the rule.
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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
ATM Marketplace
MARCH 5, 2024
With cloud-based tech, ATM operators can deliver the same customized experiences as smartphones.
American Banker
MARCH 5, 2024
The auditing giant KPMG audited the three regional banks that failed last year. New York Community's recent disclosures that it had financial reporting weaknesses in 2023 raises new questions over the auditors' role.
The Paypers
MARCH 5, 2024
US-based fintech Galileo Financial Technologies has expanded relations with The Bancorp Bank to offer real-time payments via The Clearing House.
American Banker
MARCH 5, 2024
Clients that have a brokerage account with either bank can invest in the exchange-traded funds tied to the spot price of bitcoin, as the currency's value sits at historic highs.
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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.
BankInovation
MARCH 5, 2024
For the first time since it was founded in 2016, digital bank Dave posted a profitable quarter. Dave reported fourth-quarter adjusted EBIDTA of $10 million compared to a loss of $13 million in Q4 2022, according to the bank’s earnings release today.
American Banker
MARCH 5, 2024
The calling off of the TD-First Horizon deal drew the most headlines, but 14 agreements involving the purchase of a bank were canceled last year.
The Paypers
MARCH 5, 2024
Digital ID verification provider IDVerse has announced the launch of its FraudHub solution, aiming to improve fraud detection and prevention for businesses globally.
American Banker
MARCH 5, 2024
As founder of the card network's Center for Inclusive Growth, Singh brings financial resources, corporate tools and volunteer expertise to small businesses around the world.
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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.
The Paypers
MARCH 5, 2024
Open reputation protocol Karma3 Labs has secured USD 4.5 million in fresh capital to increase trust in web3 with ratings and recommendations.
American Banker
MARCH 5, 2024
The fintech has grown its way into the black for the first time since going public in January 2022, CEO Jason Wilk says, capitalizing on AI-underwritten cash advances of up to $500.
The Paypers
MARCH 5, 2024
Authorities from Thailand have decided to accept applications for virtual banks in a bid to support people with limited access to financial services.
American Banker
MARCH 5, 2024
The chair of the House Financial Services Committee called the last resort lending facility "a generation behind" broader capital markets. He said modernization should be part of the Federal Reserve's response to last year's bank failures.
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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.
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