Accenture
JULY 27, 2023
We’re a little over halfway through 2023, but it feels like we’ve already seen more than a year’s worth of major banking news since January. With all due respect to the impact of generative AI—which we anticipated in our Top 10 Banking Trends for 2022—the biggest overall story so far this year is probably the… The post Checking in on the Banking Top 10 Trends for 2023 appeared first on Accenture Banking Blog.
American Banker
JULY 26, 2023
Stock markets have shot up as investors grow hopeful that the United States will avoid a recession. But nearly 3 in 4 community bankers are less optimistic that the Fed will achieve its mission of reducing inflation without causing a downturn, a survey from IntraFi found.
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South State Correspondent
JULY 12, 2023
Next week, FedNow goes live, ushering in the next era of faster payments. Some 57 financial institutions will start with FedNow, including about 42 banks (plus a handful of core systems providers and fintechs). FedNow joins The Clearing House, which has offered real-time payments (RTP ® ) for the last five years. Banks are about to win back payment flow from non-banks, and in this article, we break down how this will happen and what it means for your bank.
Payments Dive
JULY 24, 2023
The launch of the instant payments system FedNow last week has the potential to change how businesses manage cash flow and corporate processes. Here are six ways that could play out.
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.
Accenture
JULY 13, 2023
Generative AI: what’s in it for me? Everyone, including auto and equipment finance providers, wants to know. The way I see it, it’s a technology that will have far-reaching impacts on the lending and leasing business, bringing efficiencies and better experiences for those organizations that incorporate it across the value chain. A few weeks ago,… The post Unleashing the power of Gen AI in Specialty Finance appeared first on Accenture Banking Blog.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
American Banker
JULY 25, 2023
A hefty advertising budget combined with a worldwide pool of potential members has now pushed Navy FCU beyond the 13 million-member mark, substantially larger than its nearest competitors.
American Banker
JULY 14, 2023
The average credit union member had saved $286 less in March compared to a year earlier. That was the largest per-member drop in credit union history, fueled by rising costs of living and more aggressive competition.
BankInovation
JULY 31, 2023
Artificial intelligence has revolutionized credit decisioning. What was once a slow, manual and subjective process is becoming highly automated, and the all-important act of approving or denying credit is increasingly being turned over to highly sophisticated neural networks.
BankUnderground
JULY 25, 2023
May Rostom On average, parental contributions help children buy homes four years earlier than those without them. Out of every 100 new homeowners below the age of 30, 16 will have had help from ‘the Bank of Mum and Dad’, or Bomad for short. That rises to one in four new homeowners under the age of 25. Those who have had help from their parents put down a deposit twice as large, bought bigger first homes, and had smaller mortgage payments than those who did not.
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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
Payments Dive
JULY 6, 2023
The Federal Trade Commission revved up its case against Walmart last week, alleging the retailer facilitated fraudulent transactions, despite a court ruling setback in March.
Accenture
JULY 12, 2023
Well over a decade ago, I was fortunate enough to land a banking leadership role in commercial and corporate banking operations. I immediately noticed two things that have stuck with me ever since. First, the people in operations are some of the best and most well-intentioned, albeit often overlooked, employees in the firm. When we… The post Commercial banks can benefit by transforming ops talent appeared first on Accenture Banking Blog.
BankBazaar
JULY 31, 2023
It’s time to put on y our party hats and join the celebration as BankBazaar turns 15! Over the past decade and a half, we’ve been on a thrilling journey, redefining the way Indians access credit. Let’s take a delightful trip down memory lane and relive some of the most remarkable moments that shaped BankBazaar’s incredible 15-year adventure.
CFPB Monitor
JULY 20, 2023
The U.S. Supreme Court has scheduled oral argument on October 3, 2023 in Community Financial Services Association of America Ltd. v. CFPB. In the case, CFSA has asked the Supreme Court to affirm the Fifth Circuit panel’s decision which held that the CFPB’s funding mechanism violates the Appropriations Clause of the U.S.
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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
TheGuardian
JULY 9, 2023
Exclusive: MPs found to hold ‘in effect secret’ stock in listed firms from banks to housebuilders Wife of Tory MP who criticised windfall tax on oil firms has £50,000 in BP shares Attorney general and close family hold £130,000 in shares in six FTSE 100 firms Which UK MPs own shares in publicly listed companies? More than 50 MPs have owned stakes in publicly listed companies that raise questions about possible conflicts of interest and that until now have been in effect secret, the Guardian can
BankUnderground
JULY 10, 2023
Marcus Buckmann, Galina Potjagailo and Philip Schnattinger Understanding the origins of currently high inflation is a challenge, since the effects from a range of large shocks are layered on top of each other. The rise of UK service price inflation to up to 6.9% in April might potentially reflect external shocks propagating to a wider range of prices and into domestic price pressures.
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.
Alex Jimenez
JULY 31, 2023
Image by ThankYouFantasyPictures from Pixabay Journalism has been heavily impacted by technology transformation happening all around us. The introduction of the internet and later of smartphones have resulted in a significant change to both distribution and the actual practice of journalism. While there have been some positives, e.g., the ability to cover developing stories real-time through social media, the overall impact has been negative, mostly from the impact to the financial model.
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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.
Commercial Lending USA
JULY 26, 2023
Starting a new business is exhilarating. That requires dedication, vision, and, most importantly, enough financial support. But securing funding for a startup with no revenue can be a significant challenge. Traditional lenders often rely on revenue history to assess creditworthiness. Leaving many entrepreneurs feeling stuck. But fear not! In this comprehensive guide.
CFPB Monitor
JULY 5, 2023
The CFPB announced that on July 11, 2023 it will host a hearing on medical billing and collections, with a focus on medical payment products, such as medical credit cards and installment loans. In addition to Director Chopra, the hearing will include agency officials from the White House, the U.S. Department of Health and Human Services, and the U.S.
TheGuardian
JULY 9, 2023
Exclusive: Victoria Prentis’s shareholdings not disclosed in registers despite potential for conflicts of interest Revealed: shares held ‘in secret’ by scores of MPs raise questions about vested interests Which UK MPs own shares in publicly listed companies? The attorney general, Victoria Prentis, and her close family members have shares in six FTSE 100 companies worth more than £130,000 that have never been publicly disclosed, the Guardian can reveal.
Realwired Appraisal Management Blog
JULY 27, 2023
After you choose an appraisal management software provider, you expect excellent customer service. But what happens after onboarding? Crickets? Maybe you get custom features and responsive service but only if you’re a huge bank. But what about everybody else? It comes a point where you continue or give up.
Advertiser: Data Robot
The buzz around generative AI shows no sign of abating in the foreseeable future. Enterprise interest in the technology is high, and the market is expected to gain momentum as organizations move from prototypes to actual project deployments. Ultimately, the market will demand an extensive ecosystem, and tools will need to streamline data and model utilization and management across multiple environments.
Payments Dive
JULY 21, 2023
Direct access to the Fed’s payments system for nonbanks — specifically payments companies — will push the U.S. more fully into payments modernization, writes an executive from cross-border payments company Wise.
BankInovation
JULY 18, 2023
PNC upped its 2023 improvement plan savings outlook by $50 million in the second quarter, increasing its cost-reduction efforts to $450 million, up from the previously announced $400 million.
Ublocal
JULY 7, 2023
As home values have increased in VT and NH in the last few years, you may have more equity in your home than you think. That equity can be borrowed against with a Home Equity Line of Credit (HELOC), or a Home Equity Loan to fund home improvements and renovations. Keep reading to learn about the differences between these two types of home financing, what they are best used for, and what to consider before applying.
CFPB Monitor
JULY 31, 2023
The Texas federal district court hearing the lawsuit challenging the validity of the CFPB’s final rule implementing Section 1071 of the Dodd-Frank Act (Rule) has issued an order that preliminarily enjoins the CFPB from implementing and enforcing the Rule “pending the Supreme Court’s reversal of [ Community Financial Services Association of America Ltd.
Advertiser: Trellis
Trellis is a state trial court research and analytics platform that provides Real Estate Professionals (Buyers, Foreclosure, Loan Modification, etc.) with LEADS on Pre-Foreclosures, Lis Pendes, Distressed Assets and more — to help uncover **new** opportunities and grow their business. The process is quick and easy — and all in real time. Trellis will supply you with a link to the relevant dockets, a Leads sheet and access to its UI where applicable.
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