Sat.Oct 09, 2021 - Fri.Oct 15, 2021

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Q2 2021 US card issuer earnings commentary

Accenture

Credit Card Receivables & Purchase Volume YoY Growth: 2Q21 Earning call commentary Growth “We’ve ramped up our acquisition engine. We’re pleased to see overall acquisitions of proprietary cards, which include our co-brands, increased to 2.4 million new cards acquired in the quarter.”– American Express “Spending accelerated as COVID vaccinations increase, business reopen, and domestic….

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Your Top 3 Loan Growth Challenges – Solved

Jack Henry

Eighteen months ago, few could have imagined the changes to our world that would occur in 2020 and 2021. The pandemic brought the most significant challenge the global economy since the great recession. This roller coaster ride has produced challenges and left bank and credit union executives wondering how to respond. What approach would meet their goals for borrower assistance, revenue generation, portfolio growth, and credit quality in the years ahead?

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Market Commentary: Week of October 11, 2021

SWBC's LenderHub

Last Week. It was a chaotic week for just about every asset class. The supply of goods and services across the globe continues to have the transitory camp scrambling to redefine “transitory," as we saw WTI crude oil touch $80 during the week. The Commodity Research Bureau Raw Material Index ended the week less than one percent from its all-time high.

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Making Banking Easier with Intelligent Branch

Cisco

It’s a time of transition and digital transformation in financial services. Whether a retail bank, wealth management firm, credit union, or insurance company with a banking segment, the financial industry is facing dramatic changes on how best to accommodate customers, and what is the appropriate mix between brick-and-mortar bank branches, remote work, self-service ATMs, and digital platforms.

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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

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How equipment finance can take advantage of servitization

Accenture

In the past two weeks, I’ve had the opportunity to go to two college football games, FSU vs. Syracuse and Wisconsin vs. Notre Dame. Both were good games for someone, just not for both of my teams. Regardless, it made me think about outcomes and expectations. At one game I wanted a specific outcome: a…. The post How equipment finance can take advantage of servitization appeared first on Accenture Banking Blog.

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3 financial experts share elevator pitches

ATM Marketplace

Three financial services companies provided elevator pitches for innovative products at the Bank Customer Experience Summit, including a virtual assistant, integrated credit platform and a collaboration app.

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Malware is Calling. Will Your Users Answer?

Jack Henry

Phishing – in the modern digital world, you no doubt have an idea of what phishing entails, but do you know where the name comes from? In the mid-90s, hackers were fast at work targeting America Online (AOL) accounts. Hackers knew most users wouldn’t take the bait from rather obvious email-based “fishing” lures, but they also knew a select few, out of the sea of internet users, would inevitably respond.

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Azor review – eerie conspiracy thriller about the complacency of the super-rich

TheGuardian

Andreas Fontana’s debut feature is an unnervingly subtle drama about a Swiss private banker visiting clients in Argentina during the period of the military junta and ‘disappearances’ Pure evil is all around in this unnervingly subtle, sophisticated movie; an eerie oppression in the air. Andreas Fontana is a Swiss director making his feature debut with this conspiracy drama-thriller, shot with a kind of desiccated blankness, about the occult world of super-wealth and things not to be talked about

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Bank of England warns of potential crypto crash

BankInovation

The Bank of England is concerned that unregulated crypto growth could end with major price correction with far-ranging consequences. "There are well-founded concerns around crypto assets in relation to investor protection, market integrity and financial crime" that could have implications to financial stability, said Sir Jon Cunliffe, deputy governor of financial stability at the $959 […].

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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

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How the cloud is revolutionizing financial technology

ATM Marketplace

By utilizing the cloud, financial institutions can not only reduce infrastructure costs, but they can also acquire products and services much quicker than under traditional circumstances.

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Fifth Third Bank Offers $300 Checking Account Bonus

BankDeals

Fifth Third Bank is offering a $300 bonus when opening a new checking account. Available through 12/31/21 in FL, GA, IL, IN, KY, MI, MO, NC, OH, PA, SC, TN, and WV.

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Gradually, Then Suddenly: The Sequel – CB Insights CEO Anand Sanwal On The Future Of Financial Services

CB Insights

Tech is eating every industry. It was happening gradually. Now, it’s happening suddenly. Especially across financial services. In his 2021 Future Of Fintech keynote presentation entitled “Gradually, Then Suddenly: The Sequel,” Anand Sanwal, CEO and co-founder of CB Insights, covers the two reasons why the dramatic change is occurring: An absolute flood of fintech innovation capital.

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A brief guide to implementing digital card programs

BankInovation

Financial service providers continue to rethink and evolve delivery models to accommodate today’s need for robust self-service financial experiences. Where the “personal touch” was once prized among all other interactions, today’s focus is on social distancing recommendations and remote capabilities — pushing banks to identify and deliver digitally-based capabilities that the times, and consumers, now […].

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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.

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Bank Customers Lose Real Money

Jeff For Banks

You worked hard, saved money, and reduced or eliminated debt. You've been conservative, preferring the stability and security of bank deposits versus the gyrations of the market. Now, after forty years of toil and delayed gratification, you're ready for retirement. If this were 2006, things would be good. The Fed Funds Rate stood at 5.25%, and inflation in check at 2.5%.

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CFPB publishes Director Chopra’s statement to staff and other regulators

CFPB Monitor

The CFPB has published the statement that Director Chopra sent to CFPB staff and other financial regulators following his swearing-in on October 12. The statement can be found here.

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Full-Service Branch Access Unaffected Despite Industry Consolidation

Banking Exchange

Report by the Federal Reserve of Cleveland studied whether bank consolidation had impacted customer access Retail Banking Financial Trends Duties Branch Technology/ATMs Customers Feature3 Feature Financial Research.

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Banks and real-time payments players team up on cross-border payments

BankInovation

Banks on both sides of the Atlantic have created a high-speed cross-border payments proof-of-concept project headed up by three powerhouses of payment and messaging. The Immediate Cross-Border payments (IXB) initiative proves that it’s possible to synchronize settlement in one instant payment system, with settlement in another, and to convert real-time messages between both systems, according […].

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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.

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Stripe, Hubspot, And JP Morgan Are Buying Audiences. Why Acquiring Media Companies And Communities Is About To Explode

CB Insights

Over the last month or so, JP Morgan has purchased 2 content/media assets. In early September 2021, it bought The Infatuation, a publisher that offers reviews and recommendations on restaurants in 50 cities across the USA and internationally. And later in the month, it bought Frank, an online portal with content and tools that help students research and apply for financial aid.

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CFPB enters into second settlement with reverse mortgage provider

CFPB Monitor

Last week, the CFPB simultaneously filed a lawsuit against American Advisors Group (AAG) in a California federal district court and a proposed stipulated final judgment and order to settle the lawsuit. The lawsuit alleged that AAG inflated estimated home values in marketing its reverse mortgage product and made false representations about AAG’s effort to ensure home value information was reliable.

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US Banks Combined Market Cap Jumps to Nearly $1.4 trillion

Banking Exchange

80% increase year-on-year as US economy begins to “roar back to life” Retail Banking Management Financial Trends Feature Lines of Business The Economy Financial Research Customers People Performance Profitability Feature3.

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Payroll API provider Atomic raises $22 million in series A funding round

BankInovation

Atomic, a payroll integration API provider, has raised $22 million in a series A funding round announced Tuesday. The round was led by Core Innovation Capital and saw participation from Portag3 Ventures and Greylock Capital, both existing investors in Atomic. The funds will be used toward scaling Atomic’s offerings and onboarding new staff. Atomic’s APIs […].

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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.

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Philip Hammond adds cryptocurrency role to post-Treasury jobs list

TheGuardian

Former chancellor joins Copper.co as adviser weeks after being criticised by Westminster lobbying watchdog The former chancellor Philip Hammond has added another job to the dozen or so he has taken on since leaving the Treasury in 2019, this time as an adviser to a Mayfair-based cryptocurrency trading firm. Lord Hammond, who also served as foreign secretary and was an early supporter of bitcoin and other digital currencies, joined Copper.co with immediate effect on Monday.

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CFPB announces senior leadership changes

CFPB Monitor

As expected, with Rohit Chopra having been sworn in on October 12 as CFPB Director, the Bureau announced senior leadership changes today. The changes consist of the following: Zixta Q. Martinez will serve as Deputy Director, and in that role will oversee the Bureau’s Operations Division. Ms. Martinez joined the Bureau in 2011 to help lead the implementation team and has since served as Senior Advisor for Supervision, Enforcement and Fair Lending, Associate Director for External Affairs, and As

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The Best of Modern Marketing: Lessons Learned from INBOUND 2021

William Mills

HubSpot’s INBOUND 2021 Conference was an exciting three-day event where our team heard from some of the top industry leaders in marketing and business about current and future trends. Although still virtual, the insights and networking obtained from this experience mirrored the value of an in-person event. The sessions offered an understanding of topics ranging from email marketing, SEO, social media advertising and much more.

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Wells Fargo, Bank of America and US Bancorp show growth in digital platforms

BankInovation

Wells Fargo, Bank of America and U.S. Bancorp all highlighted their digital growth and use of the payment platform Zelle in today’s earnings calls. Wells Fargo & Co. At Wells Fargo, automation helped reduce costs in fraud management, card collection and other areas during the third quarter, according to Chief Financial Officer Mike Santomassimo.

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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.