Perficient
DECEMBER 1, 2023
In various press releases, the Federal Deposit Insurance Corporation (FDIC) has highlighted that an estimated $16.3 billion of the total cost incurred from the failures of Silicon Valley Bank (SVB) and Signature Bank was designated for safeguarding uninsured depositors. This financial strain emphasizes the critical need for effective regulatory oversight.
Payments Dive
DECEMBER 1, 2023
Fidelity National Information Services is on the hunt for smaller acquisitions in one of its divisions, and it’s benefitting from other companies’ deals in another.
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TheGuardian
DECEMBER 1, 2023
Treasury select committee highlights concerns over data privacy and increased possibility of bank runs The idea of creating a digital pound should not even be considered until the UK government and Bank of England address concerns over data privacy and the increased risk of bank runs, a parliamentary committee has warned. MPs on the Treasury select committee said that while it was true that the rollout of a central bank digital currency could trigger fresh innovation and competition in the payme
Payments Dive
DECEMBER 1, 2023
Synchrony, American Express and Capital One have all been floated by analysts as potential successors to Goldman Sachs for Apple’s credit card.
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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.
CFPB Monitor
DECEMBER 1, 2023
The U.S. Department of Veterans Affairs (VA) recently issued Circular 26-23-25 in which VA “is strongly encouraging a foreclosure moratorium on all VA-guaranteed loans through May 31, 2024.” Additionally, VA “urges servicers to cease initiating, continuing, and/or completing foreclosures on all VA-guaranteed loans during this moratorium.” The voluntary moratorium does not apply to vacant or abandoned properties.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
American Banker
DECEMBER 1, 2023
Expenses at Canada's second-biggest bank are higher than they should be, and the layoffs are one part of a plan to control costs going forward, executives say. Other Canadian banks including CIBC, Scotiabank and BMO have also shed workers this year.
BankInovation
DECEMBER 1, 2023
BMO Financial Group completed the conversion of Bank of the West customer accounts to BMO operating systems during its fiscal fourth quarter. “We closed and integrated strategic acquisitions, advanced our digital-first capabilities and increased our focus on delivering interconnected one-client experiences” in Q4, Chief Executive Darryl White said during today’s earnings call.
American Banker
DECEMBER 1, 2023
The Toronto-based company is now forecasting more than $800 million USD in annual cost savings as a result of its Bank of the West acquisition in February. That's up nearly 20% from an earlier projection.
BankInovation
DECEMBER 1, 2023
TD Bank is investing in technology to drive efficiency, reduce costs, and restructure operations with AI efforts at the forefront. The Toronto-based bank’s total technology and equipment expenses were CA$620 million ($458 million), up 18% year over year, according to its fiscal fourth-quarter (ending Oct. 31) earnings report.
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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
American Banker
DECEMBER 1, 2023
Bank of New York Mellon is hiking its minimum wage 12.5%, offering stock options to a wider range of employees and expanding well-being programs amid a tight labor market and increasing demand for employee benefits.
The Paypers
DECEMBER 1, 2023
Mambu , a cloud banking platform, and Aldermore Bank , a UK-based retail bank and specialist lender, have partnered to modernise the latter's technology.
American Banker
DECEMBER 1, 2023
The lobbyist for the Home Loan Bank System has asked the Federal Deposit Insurance Corp. to confirm that the private consortium can continue to be a "lender of last resort," in direct conflict with the recommendations of its regulator, the Federal Housing Finance Agency.
The Paypers
DECEMBER 1, 2023
The Indian unit of Prosus NV’s PayU financial technology firm has stated it is seeking an initial public offering within the next 12 months.
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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
American Banker
DECEMBER 1, 2023
The Federal Home Loan Bank System is a crucial element of our financial infrastructure. All stakeholders should be included in discussions about reforming it.
The Paypers
DECEMBER 1, 2023
The Australian government has announced a delay on its BNPL laws until 2024, due to resourcing pressures on the federal government’s legislative drafting teams.
American Banker
DECEMBER 1, 2023
Banking advocates claim FDIC's proposed corporate governance guidelines could undermine their legal duty to shareholders, despite the agency's claim that the proposal wouldn't break new ground.
The Paypers
DECEMBER 1, 2023
Allianz Direct has partnered with Netherlands-based ING in order to provide companies and firms in the region with its insurance products for business purposes.
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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.
American Banker
DECEMBER 1, 2023
The Federal Reserve's vice chair for supervision said the central bank is weighing regulatory and supervisory changes to liquidity management standards. Current approaches, he said, might not be able to contend with the speed of modern runs.
The Paypers
DECEMBER 1, 2023
Canada-based e-signing solution Syngrafii has integrated Trulioo Identity Document Verification into its iinked Sign and Video Signing Room (VSR) platform.
American Banker
DECEMBER 1, 2023
Sloan is seeking to force Wells Fargo to honor multiple canceled stock awards and a bonus he says he was promised, according to a complaint filed Friday in California state court. He's also seeking unspecified damages for, among other things, emotional distress.
The Paypers
DECEMBER 1, 2023
International banking group Standard Chartered has started offering exchange services for China’s CBDC, the digital yuan.
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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.
American Banker
DECEMBER 1, 2023
Wells Fargo is expanding into New York City's Hudson Yards, Mastercard launches a new generative AI-powered shopping tool, Banc of California closes PacWest acquisition and more in the weekly banking news roundup.
The Paypers
DECEMBER 1, 2023
1Kosmos has announced the 1Kosmos BlockID platform now enables organisations to extend web-based identity proofing sessions to a user's mobile device.
American Banker
DECEMBER 1, 2023
Zelle owner Early Warning Services has completed a test of its digital wallet, which it sees as a tool to combat the rising tide of fraud schemes, including those driven by generative AI.
The Paypers
DECEMBER 1, 2023
US-based payments platform Square has announced the launch of Tap-to-Pay on iPhone for its sellers across the UK aiming to improve their operations.
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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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