Accenture
DECEMBER 20, 2023
With 2023 in the rearview mirror, we can look back on the year with 20/20 clarity. This year saw banks confronting multiple risks, some foreseeable and others less so. If the year has taught us anything, it’s that banks can do more to guard against the risk they can predict, and risk they may not… The post Five steps to banking cyber resilience appeared first on Accenture Banking Blog.
Payments Dive
DECEMBER 20, 2023
This primer fills in the gaps on how digital wallets work, what companies compete to provide such payment tools and what to expect from them in the future.
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CFPB Monitor
DECEMBER 20, 2023
Colorado and New York are not waiting for the Fair Credit Reporting Act rulemaking to eliminate creditor use of medical debt announced by the CFPB in September 2023. As we previously blogged , in the past two years, Equifax, Experian, and TransUnion have made significant changes with respect to medical debt collections by removing unpaid medical collections under $500 from consumer credit reports, removing paid medical collections from credit reports, and extending the time period before unpaid
Payments Dive
DECEMBER 20, 2023
The Minneapolis-based lender flagged a CFPB probe into prepaid card use last year. The OCC added a separate penalty Tuesday.
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.
CFPB Monitor
DECEMBER 20, 2023
On December 12, 2024, the Federal Trade Commission (“FTC”) announced its Combating Auto Retail Scams Rule , otherwise known as the “CARS Rule,” setting new requirements on the sale, financing, and leasing of vehicles by motor vehicle dealers. The final rule, which is effective on July 30, 2024, prohibits certain misrepresentations in the financing process, sets disclosure requirements on dealers’ advertising and sales communications, mandates that dealers obtain consumers’ express, informed cons
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
BankUnderground
DECEMBER 20, 2023
Daniel Albuquerque and Jamie Lenney Rent prices have risen by 9% on average in England since the Bank of England’s Monetary Policy Committee (MPC) started raising interest rates in December 2021. Alongside this rise in prices has been a widening in the gap between reported supply and demand in the rental sector, with tenant demand continuing to rise in 2023 amidst falling supply ( RICS survey ).
Payments Dive
DECEMBER 20, 2023
Teaming with emerging fintechs is “a way of staying very, very relevant,” said Jim Schinella, Visa’s global head of digital partnerships.
TheGuardian
DECEMBER 20, 2023
Four branches of the bank in New Mexico, Alaska, California and Florida have filed for union elections since November Workers at Wells Fargo, the fourth largest bank in the US, have ramped up their union organizing campaign in recent weeks in a move that marks the largest union drive at a US bank in decades. Four Wells Fargo branches have filed for union elections since November in Albuquerque, New Mexico, Bethel, Alaska, Atwater, California, and Daytona Beach, Florida.
CFPB Monitor
DECEMBER 20, 2023
On December 13, 2023, New York Governor Hochul signed two laws, which aim to protect consumers from (1) unwanted subscriptions by requiring notice to consumers for upcoming automatic renewals with clear instructions for canceling, and (2) confusion over prices by requiring merchants to post the highest price a consumer may pay for a product regardless of payment method.
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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 20, 2023
The resolution to nullify the CFPB's small business data rule, which would require lenders to collect demographic information before making loans to small businesses, passed in both chambers with some bipartisan support.
CFPB Monitor
DECEMBER 20, 2023
The CFPB recently released results of a study of residential mortgage refinance loans from the first quarter of 2013 to the first quarter of 2023, focusing on differences between cash-out and non-cash-out (or rate and term) refinance loans. The CFPB used data from the National Mortgage Database to conduct the study.
Cisco
DECEMBER 20, 2023
This was my first time attending the Singapore FinTech Festival and I thoroughly enjoyed my time at the conference, chatting with colleagues, listening to sessions, and visiting booths.
BankInovation
DECEMBER 20, 2023
BECU has rolled out same-day payments for its dealer partners as the credit union looks to increase funding speed as dealer cash flow remains squeezed amid elevated interest rates. The Tukwila, Wash.
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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 20, 2023
States need to think twice about allowing earned wage advance programs. They look increasingly like predatory lending.
BankInovation
DECEMBER 20, 2023
Financial institutions are looking to The Clearing House’s real-time payments network to grow deposits and offer instant gratification in their payments offerings. “It’s definitely been an interesting and accelerating year for the growth of the real-time payments (RTP) network,” Elena Whisler, chief client officer at The Clearing House, told Bank Automation News.
The Paypers
DECEMBER 20, 2023
Quadient has announced its partnership with Xero in order to fully automate and streamline accounting processes for SME clients in North America and the UK.
BankInovation
DECEMBER 20, 2023
Santander Bank has successfully moved its corporate investment banking business to the cloud as part of its effort to migrate all of its operations. The $1.
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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 20, 2023
Meritrust Credit Union in Wichita is giving $400 to each of its 370 employees to start or grow a rainy day fund.
The Paypers
DECEMBER 20, 2023
Visa and digital identity company TECH5 have formed a strategic partnership agreement focusing on developing digital government systems globally.
American Banker
DECEMBER 20, 2023
Many banks, especially smaller ones, will have to rethink how they lend to small businesses and automate manual processes.
The Paypers
DECEMBER 20, 2023
Saudi-based fintech savings platform Hakbah has announced its USD 5.1 million Series A funding to accelerate growth and product development.
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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.
Bussman Advisory
DECEMBER 20, 2023
2023 was an exciting and successful year for Bussmann Advisory ! As this will be the last edition of our newsletter in 2023, we wish our over 52’000 subscribers and customers a happy holiday season and all the very best for 2024! We will be back with our first 2023 edition on January 14. This week’s must-know stories in the FinTech, AI and Digital Asset space: Microsoft and OpenAI’s Copilot: Corporate spending surge begins after hype year Anthropic, OpenAI competitor, nears $750M fun
The Paypers
DECEMBER 20, 2023
Okta has announced an agreement to acquire Spera Security to broaden its identity threat detection and security posture management capabilities.
American Banker
DECEMBER 20, 2023
The Justice Department and the Consumer Financial Protection Bureau are suing a real estate developer over an alleged bait-and-switch land-sale scheme near Houston. The developer used TikTok and other social media sites to lure Hispanic immigrants into predatory loans, the government alleges.
The Paypers
DECEMBER 20, 2023
Mastercard has announced the launch of contactless payment solutions in Nigeria, aiming to drive digital payment transformation in the region.
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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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