4 ways to “Break the Cycle” and leave manual reimbursements in the past
Payments Dive
DECEMBER 11, 2023
Manual travel reimbursements cost companies time and money yet remain common in corporate policies.
Mon.Dec 11, 2023
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Professor Sovern’s reply underscores need for consumer education
CFPB Monitor
DECEMBER 11, 2023
Recently, Professor Sovern replied to our blog post that commented on the letter that he and 160 other law academicians submitted to the CFPB in support of the pending Petition for Rulemaking that would prohibit pre-dispute consumer arbitration clauses and permit only post-dispute clauses. In response, we would like to acknowledge that two of Professor Sovern’s statements are accurate. .
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Mastercard ties growth to digital strategy
Payments Dive
DECEMBER 11, 2023
The network is advancing technologies to let consumers and businesses more easily use its cards, after doubling the number of merchants that accept them over the past five years.
CFPB rulemaking on post-dispute consumer arbitration agreements not mentioned in Fall 2023 rulemaking agenda: is there significance?
CFPB Monitor
DECEMBER 11, 2023
As we reported , the CFPB just released its Fall 2023 rulemaking agenda as part of the Fall 2023 Unified Agenda of Federal Regulatory and Deregulatory Actions. I have been contacted by many clients who have asked me whether we should read any significance into the fact that the anti-arbitration Petition for Rulemaking submitted to the CFPB by a consortium of consumer advocacy groups on September 13 is not mentioned in the new rulemaking agenda. .
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.
Discover names banking exec as new CEO
Payments Dive
DECEMBER 11, 2023
Michael G. Rhodes, previously the group head for Canadian personal banking at TD Bank Group, will take the helm at Discover in March.
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Discover to spend at least $500M on compliance next year
Payments Dive
DECEMBER 11, 2023
“We’re going to continue to invest whatever we have to invest in order to get the compliance issues behind us,” CFO John Greene said last week.
Regulatory pressures to merge intensify at larger banks
American Banker
DECEMBER 11, 2023
Proposed capital rules aimed at bigger institutions will force regional and larger community banks to consider ways to grow or seek an exit strategy, bankers and analysts predict.
Understanding the Basics of Commercial Mortgage Loans
Commercial Lending USA
DECEMBER 11, 2023
Looking for commercial loans in the USA? Commercial Lending USA specializes in arranging commercial mortgages for businesses and commercial purposes nationwide. Get the funding you need today!
Why banks may still face pain on deposit costs next year
American Banker
DECEMBER 11, 2023
Bank CEOs are eyeing a near-term peak in deposit costs as the Fed perhaps moves closer to cutting interest rates. But the pressures they've faced this year as depositors ask for more compensation may not die down right away.
Digital Transformation: Accelerating ROI and Growth in Commercial Lending
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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
European Parliament, Council reach EU AI Act deal
BankInovation
DECEMBER 11, 2023
The European Parliament and European Council reached a deal Friday on AI regulation to protect consumers from high-risk uses of the technology while promoting innovation in a controlled environment. The deal could become the international benchmark on AI.
Discover picks TD Bank exec as its new CEO
American Banker
DECEMBER 11, 2023
Michael Rhodes, who has spent the last dozen years in various executive roles at TD Bank Group, will become CEO and president of Discover Financial Services. The move comes four months after the unexpected departure of Discover's longtime CEO Roger Hochschild.
Hong Kong allocated USD 25.6 bln in its fintech and AI
The Paypers
DECEMBER 11, 2023
The Hong Kong government has assigned USD 25.6 billion and has made significant investments to establish Hong Kong as a fintech hub through innovation and technology.
How banks can boost customer savings
American Banker
DECEMBER 11, 2023
Mobile banking features that encourage customers to set savings goals can supercharge customer loyalty and attract new primary banking customers. A renewed focus on consumer savings may also help banks offset the decline in deposits reported at many banks in 2023.
The State of Automation in Financial Services 2024 Report
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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
Neobank Dave launches DaveGPT chatbot
BankInovation
DECEMBER 11, 2023
Challenger bank Dave launched its generative AI-driven chatbot last week and is exploring multiple uses of the technology.
How lenders are adapting new tech to strengthen underwriting activity
American Banker
DECEMBER 11, 2023
Leaders at the helms of organizations like Georgia United Credit Union, BayPort Credit Union, Blend Labs and more are adapting products such as "soft check" credit scoring, artificial intelligence-powered bots to streamline application reviewal and more.
Navigating Choppy Waters: Staying Invested and Focused in Turbulent Markets
TrustBank
DECEMBER 11, 2023
Investing in the financial market can sometimes feel like sailing through unpredictable seas, especially during times of market stress and volatility. The waves of market uncertainty can make even the most seasoned investors uneasy, or at times even seasick. 2023 has been a time of turbulent markets. The graph below displays the year-to-date investment growth of a 60% equity and 40% fixed income portfolio (as illustrated by the MSCI All Countries World Index for equity and the Bloomberg Intermed
Forget redlining. Branchless banks are now 'weblining' our communities
American Banker
DECEMBER 11, 2023
Internet-based banks are siphoning deposits away from urban centers in the U.S. and, unlike brick-and-mortar banks, face no requirement that they loan money back into those communities.
Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance
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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.
TikTok partners with GoTo to support online shopping in Indonesia
The Paypers
DECEMBER 11, 2023
TikTok has entered into a joint venture with Indonesian tech company GoTo to resume its online shopping operations in the country.
FDIC hires Cleary Gottlieb to investigate workplace misconduct
American Banker
DECEMBER 11, 2023
The Federal Deposit Insurance Corp. said Monday it has hired Cleary Gottlieb Steen & Hamilton to conduct an independent review of its workplace culture amid allegations of rampant sexual harassment in the workplace.
HitPay introduces payout APIs
The Paypers
DECEMBER 11, 2023
Payment platform for SMEs HitPay has introduced Payout APIs in the regions of Singapore, Malaysia, and the Philippines, for multiple types of disbursements.
Citi explores new deal structures in battered CO2 offsets market
American Banker
DECEMBER 11, 2023
Citi is among an increasing number of global banks that's now building out desks to finance carbon offset projects, trade credits and advise corporate buyers in the hope of latching on to growth in a market that may reach $1 trillion.
2024 Lending Outlook: Innovations and Evolutions in the Financial Sector
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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.
Swift enables global eBL interoperability in trade finance
The Paypers
DECEMBER 11, 2023
Swift has tested an interoperability solution with BNY Mellon , Deutsche Bank , and four eBL platforms to promote the adoption of electronic documents for digitising trade.
Bank of America promotes 334 to managing director, 8% fewer than last year
American Banker
DECEMBER 11, 2023
More than half of those elevated to the senior role were women or people of color, marking the fourth consecutive year that historically underrepresented groups made up the majority of the class.
DataVisor expands fraud protection with Twilio-powered SMS verification
The Paypers
DECEMBER 11, 2023
AI-powered fraud and risk platform DataVisor has expanded its end-to-end platform capabilities by integrating SMS customer authentication for fraudulent transactions.
Bluebell calls for Worldline board shake-up after shares drop 60%
American Banker
DECEMBER 11, 2023
Activist investor Bluebell Capital Partners called on French payments company Worldline to shake up its board and replace its chairman to "restore the trust of the market" after the shares plunged almost 60% in a day.
Top 10 Benefits of Automating Loan Modifications for Commercial Lenders
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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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