Wed.Aug 30, 2023

article thumbnail

What’s the Deal with Details

Realwired Appraisal Management Blog

Job Manager: “So, can you give me some details about this property? Loan Officer: “Sure, it’s a… building. Maybe brick? Definitely has windows.” I tease but many loan officers see details as an inconvenience. Maybe they’re playing a game, trying to see if the appraiser can guess the rest.

article thumbnail

Visa, Mastercard eye price increases: WSJ

Payments Dive

Card issuing banks and their card network partners are poised to increase fees they charge merchants as soon as October, The Wall Street Journal reported.

Cards 370
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Using Data in Banking – Get This Framework

South State Correspondent

One challenge in banking is that many banks know data is the bank’s future but lack a data framework. As a result, their progress in leveraging data and machine learning is slow. In this article, we explore what a data strategy looks like, how that translates into tactics, and how the “Next Best Action” should be a near-term goal to build towards.

Data 195
article thumbnail

Elavon, Ingenico team on new payments tool

Payments Dive

U.S. Bank’s payments software unit is locking arms with the French hardware-maker to take on a raft of competitors targeting small businesses.

Tools 259
article thumbnail

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.

article thumbnail

BMO, Bank of the West conversion update

BankInovation

BMO Financial Group shared its long-term savings plans and provided an update on its integration of Bank of the West during its third-quarter earnings call Tuesday.

Groups 112

More Trending

article thumbnail

Transactions: BMO, Mastercard, Extend launch mobile wallet for virtual cards

BankInovation

On Monday, BMO, with Mastercard and digital card fintech Extend, rolled out a mobile wallet for virtual cards for its commercial banking clients in the U.S. and Canada to leverage, according to a BMO release.

Cards 102
article thumbnail

BMO, Mastercard bring virtual cards into the physical world

American Banker

The card network is working with the Bank of Montreal and the fintech Extend to enable businesses to approve and track in-store payments via employees' own digital wallets.

Cards 96
article thumbnail

FedNow: Now what?

BankInovation

The Federal Reserve launched its much-awaited FedNow real-time payments channel on July 20, and experts say it can be revolutionary for the payments industry.

article thumbnail

Florida bank finds a new credit union buyer

American Banker

Innovations Financial Credit Union is purchasing First National Bank Northwest Florida, taking the place of Harvesters Credit Union, which terminated its 2022 deal to acquire the bank.

Florida 83
article thumbnail

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

article thumbnail

UK savings rates: NS&I launches one-year deal offering record 6.2%

TheGuardian

Government-backed bank throws down gauntlet to high street lenders with new growth bonds The UK government’s savings bank, NS&I, has “thrown down the gauntlet” to high street rivals by launching a one-year fixed-rate savings account paying a table-topping 6.2%. Commentators said NS&I was likely to experience strong demand from savers keen for a decent return, as it means they get to secure a record rate that comes with a 100% Treasury guarantee.

article thumbnail

USAA wins patent agreement with Discover, vows to keep going after banks

American Banker

The card network has agreed to pay USAA licensing fees for the use of mobile deposit capture technology. USAA says it plans to keep trying to get other banks to do the same.

Mobile 83
article thumbnail

GoCardless partners with Commusoft

The Paypers

UK-based bank payment company GoCardless has announced its partnership with Commusoft in order to provide clients with cost-effective payments via Open Banking.

article thumbnail

Central Bank of Ireland's loan data snafu, BofA on Interac

American Banker

Ireland's central bank holds loan data for too long, Bank of America enables two-way corporate disbursements in Canada, and more.

Data 92
article thumbnail

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

article thumbnail

CommentSold launches Videeo

The Paypers

US-based live video commerce platform CommentSold has launched Videeo for Shopify, an app that improves customer engagement and optimises live selling experiences.

Video 68
article thumbnail

A mini deposit run in early May preceded the sale of PacWest

American Banker

Following reports that the Los Angeles bank was considering strategic options, its deposits fell by $1.7 billion in two days, according to a securities filing. The disclosures shed new light on PacWest's predicament before its merger agreement with Banc of California.

article thumbnail

Profits in a time of inflation: some insights from recent and past energy shocks in the UK

BankUnderground

Sophie Piton, Ivan Yotzov and Ed Manuel How have profits behaved in this context of sustained level of inflation? In part, the answer depends on how ‘profits’ are defined. Some broad measures suggest increasing profits, but conflate market and non-market sector dynamics and omit important corporate costs. We construct an alternative measure of corporate profits to capture UK firm earnings in excess of all production costs.

Capital 57
article thumbnail

Visa to spread the word about credit fintech Uplinq among its banks

American Banker

Uplinq, which helps lenders make credit decisions for small business owners using alternative data, already has large global banks among its clientele.

Fintech 69
article thumbnail

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.

article thumbnail

Binance launches Send Cash in Latin America

The Paypers

Binance , a blockchain and cryptocurrency infrastructure provider, has launched Send Cash in Latin America, to allow users to transfer crypto through Binance Pay from nine countries in the region.

America 45
article thumbnail

CFPB's spurious claims about 'junk' fees harm legitimate businesses

American Banker

Many of the fees that the agency derides as unnecessary are funds owed to medical practices, homebuilders and educational institutions.

article thumbnail

BofA launches Global Digital Disbursements in Canada

The Paypers

Bank of America has announced the launch of Global Digital Disbursements in Canada facilitated by the money movement solution of Interac , Interac e-Transfer.

America 45
article thumbnail

Fed ramps up demands for corrective actions by regional banks

American Banker

The Federal Reserve has issued a slew of private warnings to lenders with assets of $100 billion to $250 billion, including Citizens Financial Group, Fifth Third Bancorp and M&T Bank, according to people with knowledge of the matter.

article thumbnail

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.

article thumbnail

JP Morgan increases stake in Brazilian bank C6

The Paypers

JP Morgan has announced the increase of its stake in Brazil-based digital bank C6 to 46 percent, without disclosing any of the financial terms and conditions.

article thumbnail

Mortgage applications increase for first time in over a month

American Banker

Both purchases and refinance volumes climbed higher, as interest rates flattened following earlier volatility, according to the Mortgage Bankers Association.

36
article thumbnail

Weave introduces Scan to Pay to payment suite

The Paypers

US-based platform for SME healthcare practices Weave has added Scan to Pay to its payment suite, enabling users to scan QR codes to complete transactions.

article thumbnail

Switzerland weighs new anti-money-laundering rules amid U.S. criticism

American Banker

Switzerland on Wednesday proposed tougher AML rules as U.S. officials ramp up their critique of what they say is weak sanctions enforcement.

article thumbnail

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.