ABA Community Banking
OCTOBER 9, 2023
Community banks need to get engaged on the regulators’ capital framework overhaul, outgoing ABA Chair Dan Robb told ABA’s Annual Convention in Nashville this morning. The post Dan Robb: Capital proposal is concerning to community bankers appeared first on ABA Banking Journal.
Payments Dive
OCTOBER 9, 2023
Payments professionals will have plenty of choices when contemplating conferences to attend next year. The hard part will be choosing which to attend. Here are our staff picks.
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South State Correspondent
OCTOBER 9, 2023
In two articles in the past few weeks ( here and here ), we discussed how the “higher-for-longer” interest rate environment will affect the community bank sector – continued increase in the cost of funds (COF), steady yields on loans, and a decrease in net interest margin (NIM) will put severe pressure on ROE for new loan originations. Community banks must improve the performance of their existing portfolio.
Payments Dive
OCTOBER 9, 2023
The federal agency is considering regulatory action to better protect U.S. consumers from “excessive surveillance,” Director Rohit Chopra said last week during a Brookings Institution event.
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CFPB Monitor
OCTOBER 9, 2023
The Office of the Comptroller of the Currency’s (OCC) Committee on Bank Supervision (CBS) recently issued its annual Bank Supervision Operating Plan for FY 2024, which sets forth the OCC’s supervision priorities and objectives across CBS operating units. The Plan also facilitates the execution of supervisory strategies for individual national banks, federal savings associations, and federal branches of agencies of foreign banking organizations (collectively, Banks). .
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
William Mills
OCTOBER 9, 2023
Our CEO, William Mills, attended this year's FinovateFall in New York and sat down with leading fintech and financial services innovators to examine the latest technological advancements in the industry. To watch the full interview series below, create a free Streamly account. Streamly is a new way to watch business videos, delivered by experts and tailored to your needs and interests.
Payments Dive
OCTOBER 9, 2023
Smart retailers are focusing on their existing customer base and improving the shopping experience to boost their end-of-year sales.
American Banker
OCTOBER 9, 2023
The Fed's meteoric increase in the federal funds rate over the last 18 months has left banks holding billions in unproductive investment securities. Helping them would be good for the economy.
CFPB Monitor
OCTOBER 9, 2023
The Federal Trade Commission (“FTC”) and the Consumer Financial Protection Bureau (“CFPB”) have filed a joint amicus brief in which they urge the U.S. Court of Appeals for the Second Circuit to reverse the decision of a New York federal court in Suluki v. Credit One Bank, NA. The agencies argue that the district court disregarded the Fair Credit Reporting Act’s (“FCRA”) requirement that a furnisher delete disputed information that it cannot verify. .
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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
The Paypers
OCTOBER 9, 2023
American Express has announced its plans to pilot facial and fingerprint recognition technologies for user authentication at online checkouts in the US.
TheGuardian
OCTOBER 9, 2023
Lender confirms customers have started to pull money out amid worries over its financial health What is happening at Metro Bank? Metro Bank is launching a fresh cost-cutting drive after the embattled lender clinched a £925m rescue package from investors over the weekend. The high street lender said it was aiming to slash about £30m of costs a year from 2025 as part of the deal, which avoided a potential breakup or takeover by a rival UK bank.
BankInovation
OCTOBER 9, 2023
American Express’ recent technology investments include product development and tech stack enhancements. In the second quarter of 2023, the financial institution increased expenses 23% year over year to $402 million, according to its earnings supplement, with the increase primarily driven by higher technology costs.
TheGuardian
OCTOBER 9, 2023
Chief executive’s boast that there is nothing wrong with its business model will sound hollow to those nursing a 97% loss Once upon a time, Metro Bank was going to shake up the old guard in the banking world via the radical strategy of opening branches while others were closing them. The talk was of simplicity, ease of doing business and free dog biscuits.
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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
OCTOBER 9, 2023
The Federal Reserve's top regulator cited the financial crisis of 2008 repeatedly in a speech about the merits of new risk-capital standards — proposals that have drawn unprecedented fire from banking trade groups and members of Congress.
TheGuardian
OCTOBER 9, 2023
Jaime Gilinski Bacal is known for snapping up struggling lenders on the cheap and turning around their fortunes The Colombian banking tycoon Jaime Gilinski Bacal is known for taking a gamble. Now one of the wealthiest people in Latin America, worth a reported $5.3bn (£4.3bn), Bacal built his name snapping up the assets of struggling lenders on the cheap, turning around their fortunes and selling them on for a big profit.
ABA Community Banking
OCTOBER 9, 2023
Federal Reserve Governor Michelle Bowman commented on what she termed the “responsible evolution” of banking’s regulatory framework. The post Fed’s Bowman: Public engagement ‘critical’ in rulemaking process appeared first on ABA Banking Journal.
BankInovation
OCTOBER 9, 2023
Citizens Bank has been exploring multiple uses for AI as it looks to enhance its digital channels and improve customer offerings.
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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
OCTOBER 9, 2023
The addition of branded debit cards is bringing BNPL fintechs' products closer to traditional credit cards, both in terms of consumer perception and the fees the cards generate.
The Paypers
OCTOBER 9, 2023
Automated, end-to-end identity verification, risk assessment, and compliance solutions provider Jumio has expanded its partnership with pure-play data services provider NextWealth.
American Banker
OCTOBER 9, 2023
In spite of rising borrowing costs, the US economy has shown surprising resilience. The labor market added 336,000 jobs in September, according to fresh data published Friday.
The Paypers
OCTOBER 9, 2023
Flipkart, an India-based ecommerce marketplace, has launched Flipkart Commerce Cloud to offer retail intelligence solutions for international retailers and ecommerce platforms.
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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 Financial Brand
OCTOBER 9, 2023
This article Gallery: Priming Your Social Media Strategy for Amazon’s Prime Day appeared first on The Financial Brand. Prime Day is a great marketing opportunity for banks and credit unions. This gallery of social media posts illustrates how seven different types of messages can be used to maximum effect. This article Gallery: Priming Your Social Media Strategy for Amazon’s Prime Day appeared first on The Financial Brand.
The Paypers
OCTOBER 9, 2023
Tarabut , an Open Banking platform, has partnered with FLOOSS , a digital lending platform, to introduce fully digital loans to Bahrain by utilising Open Banking.
The Paypers
OCTOBER 9, 2023
Trulioo , a global identity verification platform, has announced new research showing that 79% of responding organisations have experienced defrauding, extorting or stealing money.
The Paypers
OCTOBER 9, 2023
Investment bank Beltone has announced that its wholly-owned subsidiary Beltone Capital signed a framework agreement with CRIF to collaborate on data science and credit rating.
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