Sat.Sep 04, 2021 - Fri.Sep 10, 2021

article thumbnail

How the New Experience Economy Is Reshaping Insurance (Part 5 of 5)

Perficient

Harvard Business Review defines the New Experience Economy as the fourth evolution of economic value, which includes commodities, products, services, and now, experiences. It is at this point where the product is most differentiated and pricing most premium. In a commoditizing marketplace such as personal lines, a personal experience is an opportunity for carriers to differentiate themselves from one another and create value that the insured will reward with retention and share of wallet.

article thumbnail

Think big tech is only for big banks? Think again.

Accenture

Middle market bank leaders sometimes assume that the most transformative technologies are out of their reach. But the path to future competitiveness in banking runs through technology. No matter the size of the bank. Middle market banks are in an enviable position when it comes to getting the full value of emerging technologies. They have…. The post Think big tech is only for big banks?

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Remembering 9/11 – A Pivotal Day for BSA/AML Professionals

Abrigo

September 11, 2001 will stay with Americans forever. This day was a pivotal point for all Americans, especially BSA officers and FinCrime professionals. Would you like other articles like this in your inbox? Takeaway 1 The terrorist attacks of September 11 were a pivotal point in the BSA, and the world. Takeaway 2 The USA PATRIOT Act was the first legislation that criminalized terrorist financing in the United States.

Training 195
article thumbnail

Fintech in a Flash: Are Real-Time Payments a Disruption or an Opportunity?

Jack Henry

Real-time payments are the most consequential development in the payments industry in decades. Innovative fintechs and big techs anticipated the demand for instant payments and focused on developing solutions that modernize and expedite consumer and commercial payments.

Fintech 158
article thumbnail

Digital Transformation: Accelerating ROI and Growth in Commercial Lending

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

article thumbnail

Market Commentary: Week of September 7, 2021

SWBC's LenderHub

Last Week: Despite a rapidly worsening global wave of Covid, catastrophic natural disasters, and weaker than expected economic numbers—culminating with a huge downside miss for August employment creation—risk assets managed to pull out gains for the week. It seems, yet again, that bad news equals lower for longer with regard to Treasury yields and that means higher corporate equity and debt values.

Marketing 145

More Trending

article thumbnail

D.C. emergency and temporary legislation limiting collection activities to take effect September 23, 2021

CFPB Monitor

During D.C.’s declared State of Public Health Emergency, several financial protections have been put in place, including some that severely limit, among other things, collection activities relating to consumer contracts, repossession, and legal actions on accounts. On September 1, Mayor Muriel Bowser signed the most recent pair of emergency and temporary legislation to land on her desk, B24-0347 and B24-0348.

article thumbnail

It's not too late to gain banking insights at Bank Customer Experience Summit

ATM Marketplace

You still have a chance to join the Bank Customer Experience Summit, but you need to act quickly. Registration closes on Sept. 10 for the event, which will be held in Chicago from Sept. 13 to 15. This summit will gather experts from leaders in the industry ranging from Truist to Republic Bank of Chicago.

article thumbnail

European banks storing €20bn a year in tax havens

TheGuardian

Barclays and HSBC among banks booking money equivalent to 14% of annual profits in offshore entities Leading European banks are booking around €20bn (£17bn) a year – equivalent to 14% of their total profits – in tax havens, with Barclays, HSBC and NatWest Group among those enjoying the lowest tax rates, according to a new report. The figures emerge from an analysis, conducted by the EU Tax Observatory, of 36 big banks required to publicly report country-by-country data on their activities.

Taxes 101
article thumbnail

Can sectoral supply shocks have aggregate demand consequences?

BankUnderground

Ambrogio Cesa-Bianchi and Andrea Ferrero. Restrictions on activity to curb the spread of Covid-19 led to a shutdown of specific parts of the economy. These lockdown measures can be thought of as a shock that suddenly decreases the supply of affected sectors, which lowers output and increases their price. Guerrieri et al (2020) propose a theoretical model of ‘Keynesian supply shocks’ where a sectoral supply shock triggers knock-on effects on demand in other sectors which, if strong en

Policies 107
article thumbnail

The State of Automation in Financial Services 2024 Report

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

article thumbnail

Reduced Revolving Debt: A Key Driver of Improved FICO Scores During Pandemic

FICO

We recently shared that the national average FICO® Score increased to 716 (as of April 2021). Our blog post on the subject highlighted that consumers in the lower score ranges were the biggest driver of the upward trend from 708 in the prior year. For example, for those consumers who had a FICO® Score value between 550-599 as of April 2020, their average score went up from 575 as of April 2020 to 596 as of April 2021.

Cards 98
article thumbnail

5 Questions with Automation Anywhere CIO Sumit Johar

BankInovation

San Jose, Calif.-based Leading robotic processing automation (RPA) company Automation Anywhere has raised more than $849.3 million in eight funding rounds, and is preparing for its initial public offering. Bank Automation News sat down with newly appointed Chief Information Officer Sumit Johar to discuss his approach to automation and information technology (IT).

article thumbnail

First Tech Federal Credit Union Ups 36-Month Bump Up Jumbo CD Rate

BankDeals

First Tech Fed Credit Union (easy membership) added 50 bps to its 36mo Bump Up CD ($500)/Bump Up Jumbo CD ($50k). 1 rate increase and 1 additional deposit each 12 months.

98
article thumbnail

80+ Companies Shaping The Blockchain Landscape

CB Insights

Blockchain companies raised more venture capital and private equity funding in H1’21 than any full year in history. The space is rapidly evolving as startups tackle a wide range of challenges in financial services and other industries. For example, online exchanges are making cryptocurrency trading and investing more accessible to consumers. Meanwhile, non-fungible tokens ( NFTs ) are making strides toward becoming mainstream. download our best of blockchain research.

article thumbnail

Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

article thumbnail

Sweet deal: UK workers lured back to office with bonuses and ice-cream

TheGuardian

Companies such as PwC and Goldman Sachs offering extra perks to persuade home workers to return Companies across the UK are offering perks to lure their staff back into the office after nearly 18 months of working from their kitchen tables, ranging from free meals and ice-cream to cash bonuses. The professional services firm PwC’s 22,000 UK workforce are being offered one of the most lucrative incentives, each receiving an extra £1,000 this month, as they switchto a hybrid working environment wh

Company 93
article thumbnail

UiPath rival Automation Anywhere plans IPO as soon as this year

BankInovation

Automation Anywhere Inc., a software company backed by SoftBank Group Corp.’s Vision Fund, is preparing for an initial public offering that could happen later this year, according to people familiar with the matter. The company, based in San Jose, California, focuses on robot process automation, which helps companies save time and money by automating repetitive, […].

article thumbnail

Webinar tackles non-traditional branch strategies

ATM Marketplace

How do banks keep up with changing customer expectations and a tougher landscape? A webinar hosted on ATM Marketplace and sponsored by NCR Corp. entitled "Non-traditional branches: A new approach for a changing world" addressed how non-traditional branches can make a big impact.

article thumbnail

This week’s podcast: Congress overrides the OCC’s true lender rule: what are the risks for banks and their loan program nonbank partners?

CFPB Monitor

The OCC’s true lender rule was intended to create a bright line test for when a national bank or federal savings association should be considered the “true lender” in the context of third party partnerships but Congress overturned the rule. After reviewing the relevant background, we examine the Congressional override’s implications for future federal true lender rulemaking and its impact on existing law, key federal and state court challenges and decisions, state legislative and administrative

article thumbnail

2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

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.

article thumbnail

Innovative Standardization: The Next Gen of Standard Appraisal Forms

SWBC's LenderHub

Fannie Mae and Freddie Mac are currently collaborating on a game-changing initiative to redesign the uniform appraisal dataset (UAD) for their standard appraisal forms. This project has been in the works since 2019, and we will likely see it come to fruition by the end of 2023. This is a huge undertaking that involves subject matter experts across the country, including appraisers, lenders, appraisal management companies, government agencies, and other trade organizations.

article thumbnail

Watch: Synthetic identity fraud presents growing threat, panel says

BankInovation

The real world poses as much of a threat as the online one, cybersecurity experts said in a Thursday webinar hosted by Bank Automated News. Synthetic identity fraud occurs when a criminal combines stolen identification, such as a Social Security number, with other identifying information to create a new, false identity. “One of the significant […].

Fraud 97
article thumbnail

The end of the wallet: how phones replaced cash, credit cards and receipts

TheGuardian

People have been carrying them around for centuries, but their days are now numbered. The burning question? Where to keep that old, ever-optimistic condom … Name: The wallet. Age: So the word has been around since the 14th century, but it used to refer to a small sack for carrying provisions. The introduction of paper money to the west in the 1600s led to the development of wallets for the way we use them today.

Cards 84
article thumbnail

CFPB Alleges Income Share Agreements are Extensions of Credit in Results-Oriented Enforcement Action against ISA Originator

CFPB Monitor

(Register for Ballard Spahr’s webinar at the link below). The CFPB issued a consent order against an income share agreement (ISA) provider, Better Future Forward (BFF), in which it concluded that BFF’s ISAs are extensions of credit under the Consumer Financial Protection Act and Truth in Lending Act and are “private education loans” under TILA. In doing so, the CFPB alleged that BFF: Engaged in deceptive acts and practices by representing that its ISAs are not loans and do not create debt; Viol

article thumbnail

Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance

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.

article thumbnail

Gr4vy partners with Banked and GoCardless to streamline ecommerce payments

The Paypers

US-based cloud-native payments company Gr4vy has announced two new partnerships with real-time payments network Banked and UK-based fintech GoCardless , focused on A2A payments.

article thumbnail

Big week for buy now, pay later

BankInovation

Buy Now Pay Later (BNPL) companies continue to attract buyers and investors alike as this week saw neobank Revolut announce it would work on a BNPL product, and PayPal bought Japanese BNPL provider Paidy for $2.7 billion. Meanwhile, in fintech funding, European BNPL technology provider Scalapay revealed a closed funding round that raised $155 million, […].

Fintech 96
article thumbnail

NatWest gives RBS the full makeover including carpets, couches and cafes

TheGuardian

Revamped interiors and flexible working plan at City HQ look to usher in new dawn for thousands of returning staff It was a lingering reminder of Royal Bank of Scotland’s former boss Fred Goodwin: the blue and yellow carpets that were allegedly handpicked by the disgraced banker, who was blamed for the bank’s near-collapse more than a decade ago and was subsequently stripped of his knighthood.

Groups 80
article thumbnail

How a Community Bank Launched a Retail Crypto Platform

ABA Community Banking

Banks of all sizes are hearing from many customers that they want exposure to the fast-growing but volatile cryptocurrency market. Vast Bank recently became the first nationally chartered, FDIC-insured bank to offer crypto banking. The post How a Community Bank Launched a Retail Crypto Platform appeared first on ABA Banking Journal.

article thumbnail

Addressing Top Enterprise Challenges in Generative AI with DataRobot

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.