Payments Dive
JULY 10, 2023
The Federal Reserve in July is launching the FedNow Service, an instant-payment service that will help banks and other financial institutions better serve consumers and businesses.
South State Correspondent
JULY 10, 2023
With an inverted yield curve, borrowers have a pricing advantage to lock in long-term fixed-rate loans, while lenders strongly desire to limit loan duration. One possible solution to this dichotomy is for banks to offer interest rate swaps to hedge individual loans. This article will review domestic banks’ adoption of interest rate swaps. Next week’s article will consider the challenges and possible solutions for community banks to adopt loan hedging programs.
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Payments Dive
JULY 10, 2023
The purchase gives Merchant Lynx Services a payment acceptance presence in the highway construction and large equipment sector, a Merchant Lynx executive said.
Perficient
JULY 10, 2023
The trust placed in financial services organizations by clients, investors, and stakeholders is not only a reflection of reliability but also a significant driver of business success. But, as one of the most regulated and notoriously untrusted industries, the financial services industry is among the most vulnerable to being impacted by negative digital media, driving up its vulnerability to reputational risk.
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.
Abrigo
JULY 10, 2023
Stay up-to-date on AI fraud trends to protect your clientele Emerging AI fraud schemes reveal holes in financial institution's defenses. Here are several suggestions for tightening security. Get more tips for managing the AML program from this webinar: "Conquering BSA challenges: Best practices for managing a successful AML program" DOWNLOAD Takeaway 1 AI can enhance our efficiency, but financial institutions must be on guard against AI fraud.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
BankInovation
JULY 10, 2023
In one week in April, Metro Credit Union received more than 450 fraudulent account opening applications. Using manual processes, fraud and digital teams at the Boston-based, $3 billion credit union worked overtime to fend off a series of attacks that Chief Operating Officer Traci Michel believed was enabled by generative AI tools.
CFPB Monitor
JULY 10, 2023
In advance of a hearing scheduled for tomorrow on medical billing and collections in which the focus will be medical payment products such as medical credit cards and installment loans, the CFPB, jointly with the U.S. Department of Health and Human Services (HHS) and U.S. Department of Treasury (Treasury), has issued a request for information (RFI) regarding medical payment products. .
American Banker
JULY 10, 2023
The tech giant wanted to put the consumer first. This meant its banking partner was always second — and taking on more risk than most card issuers at a time of economic volatility.
CFPB Monitor
JULY 10, 2023
A Pennsylvania federal district court has ruled that the plaintiffs’ allegations that notices of repossession sent by a bank failed to comply with the state’s Motor Vehicle Sales Finance Act (MVFSA) were sufficient to state a claim under the Pennsylvania Uniform Commercial Code (UCC). As a result, the court denied the bank’s motion to dismiss the plaintiffs’ class action complaint.
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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
JULY 10, 2023
We surveyed 164 professionals at banks and credit unions to find out their tech agenda for this year, including investment plans, tech priorities and thoughts on transformational tools. Here's what we found out.
CFPB Monitor
JULY 10, 2023
On June 28, a group of plaintiffs filed a class action lawsuit against OpenAI—creator and publisher of the generative artificial intelligence (AI) tool ChatGPT—as well as OpenAI’s primary investor, Microsoft. The 151-page complaint is the first significant U.S. class action to assert that generative AI tools violate consumer privacy rights. The Complaint , filed in the Northern District of California, challenges the core of the generative AI models. .
American Banker
JULY 10, 2023
The Cleveland-based regional bank recently announced a $20 million line of credit for Lendistry, a Los Angeles-based, minority-led community development financial institution.
BankInovation
JULY 10, 2023
Citigroup launched a digital platform for its commercial banking clients today as it continues to build out its digital offerings. The $2.
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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
JULY 10, 2023
The $4 billion-asset United Federal Credit Union partnered with the Nevada Housing Division to offer first-time homebuyers access to down-payment assistance.
The Paypers
JULY 10, 2023
Supply chain solutions and logistics services provider BEST Vietnam and Vietnam-based digital payment solution company VNPAY have partnered.
American Banker
JULY 10, 2023
New regulations on small-dollar lending are leaving consumers with few viable options when they need emergency access to cash.
Realwired Appraisal Management Blog
JULY 10, 2023
The life of appraisers is undoubtedly challenging, as we face mounting pressures from various angles. Things like acceleration of declining number of appraisers, finding good reviewers, regulatory audits, ROVs, bias claims and so on. Though work has slowed, appraisers often feel trapped in a cycle of endless work, limiting their ability to make significant strides.
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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
JULY 10, 2023
High interest rates could dampen demand for refinancing, which took a hit during the pandemic-era pause in federal student loan payments. "Curb your enthusiasm," one analyst said.
BankInovation
JULY 10, 2023
TD Bank is enhancing its personal finance management tools and looking to AI-driven predictive analytics to help consumers control their spending in a real-time, automated fashion. The Cherry Hill, N.J.
American Banker
JULY 10, 2023
A number of large banks, the Federal Reserve of New York and Swift participated in a proof of concept of a shared ledger that would allow cross-border transactions to settle instantly in U.S. dollars — with regulators literally in the loop.
The Paypers
JULY 10, 2023
Payment solutions provider Payment Asia has announced the launch of an AI-powered processing service set to raise ESG standards for payment solutions in Hong Kong.
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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
JULY 10, 2023
In a speech Monday, Federal Reserve vice chair for supervision Michael Barr said the few banks that would have to raise capital under the final Basel III capital rules would be able to do so fairly quickly and without reducing dividends.
The Paypers
JULY 10, 2023
Orchestration service provider Mvine has partnered with digital identity verification provider Onfido to prioritise accessibility and simplicity when offering IDV services.
American Banker
JULY 10, 2023
JPMorgan Chase and Goldman Sachs are leading the financing, which will involve the private equity firm taking a 55% stake in the payments processor, while FIS retains the remainder.
The Paypers
JULY 10, 2023
Bahrain-based fintech Infinios has announced its partnership with B2B SAAS solution provider FOO in order to improve customer experience across the MENA 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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