Sat.Jul 03, 2021 - Fri.Jul 09, 2021

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Top 5 Myths Around Banking Cannabis-Related Businesses (CRBs)

Abrigo

Key points in this article include: Risks exist in states where canabis is illegal > LEARN MORE Ensuring compliance when not servicing CRBs > LEARN MORE Determine your tier of acceptance > LEARN MORE Banking hemp vs. marijuana vs. CBD > LEARN MORE The gray area of banking CBD > LEARN MORE. You might also like this webinar Navigating Regulatory Haze: Banking Cannabis-Related Businesses and Managing Risk WATCH WEBINAR.

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Bank Customer Lifetime Value

Jeff For Banks

Who are your target customers? Answer: XYZ Why are they your target customers? Answer: They are our most profitable customers. May I see your profitability reports that show this? Answer: *crickets* Is "most profitable" the right answer? Aside from my skepticism that the financial institution actually calculates who their most profitable customers are.

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Commoditization, Optimization or Transformation: What’s in Your Core Wallet?

Gonzobanker

Three winning core strategies to accommodate any financial institution’s budget, business case, and future vision. It has become crystal clear that digital transformation is now the largest technology initiative for regional and community financial institutions.

Strategy 158
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Federal Reserve Releases Bank’s Annual CCAR Stress Test Results

Perficient

The Federal Reserve released in late June the results of its annual bank stress tests. The Fed’s Comprehensive Capital Analysis and Review (“CCAR”) stress tests are designed to ensure that large banks can lend to households and businesses even in a severe recession. The annual exercise evaluates large banks’ resilience by estimating their loan losses, revenue, and capital levels—which provide a cushion against losses—under hypothetical recession scenarios that extend nine

Capital 309
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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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Empathetic banking: Human touch, digital reach

Accenture

Human touch, digital reach As I write this, parts of the world are slowly returning to a new version of normal. But many of us are still experiencing, or are in recovery from, the massive upheaval brought about by COVID-19. With governments slowly pulling back financial relief measures, those who relied on state funds will…. The post Empathetic banking: Human touch, digital reach appeared first on Accenture Banking Blog.

US 259

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Fintech on Fire: Deals to Watch

Gonzobanker

The fintech market is smokin’ hot right now. But is it headed into a warm, steady burn, or will it end up as a dumpster fire? After a year in lockdown where consumers and investors saw Zoom stock zooming, investors are flush with cash (or stock) at the ready. Whether housing, used cars, or timber, demand is driving activity to record levels. Fintech is no different.

Fintech 197
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OCC Releases CRA Evaluations for 16 National Banks and Federal Savings Associations

Perficient

The Office of the Comptroller of the Currency (OCC) has released 16 Community Reinvestment Act (CRA) performance evaluations. These evaluations are based on on-site examinations by OCC-trained staff. On-site examinations are done every other year. The reviews, which can take weeks for small banks and months for large banks, assess an institution’s performance in helping to meet the credit needs of communities, including those of low or moderate-income within its assessment area.

National 309
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Market Commentary: Week of July 6, 2021

SWBC's LenderHub

Last Week: Equities continued to grind higher with the S&P 500 managing to set new all-time highs every day of the week. Impervious to bad news, such as the spread of the “Delta Variant,” further Fed speak on tapering, warnings of impending doom from market sages, and continued signs of inflation, the stocks party on. The rally in stocks has become broad and volatility is getting crushed.

Marketing 148
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Survey: Consumers Trust Banks More Than the Federal Government

BankDeals

73% of consumers say they trust their financial institutions, versus just 51% who feel the same about the government regarding banking and personal finance.

Survey 122
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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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CoinFlip partners with actor Neil Patrick Harris to deliver cryptocurrency education

ATM Marketplace

Neil Patrick Harris has jumped into the world of cryptocurrency ATMs through an advertising campaign called "So Flippin' Easy.

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Federal Reserve Extends Paycheck Protection Program Liquidity Facility to July 30, 2021

Perficient

While many people are returning to the office after their July 4th festivities carrying on as usual, bankers can return knowing that the Federal Reserve Board has extended the Paycheck Protection Program Liquidity Facility until July 30th. The Paycheck Protection Program Liquidity Facility, or PPPLF, extends term credit to financial institutions making Paycheck Protection Program (PPP) loans, accepting the PPP loans as collateral.

Community 309
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Podcast: How One Bank Turned a Cycling Hobby into a Line of Business

ABA Community Banking

It's summer cycling season, and the Tour de France is in full swing. Barry Allen of Tower Community Bank joins the ABA Banking Journal Podcast to talk about biking adventures closer to home. The post Podcast: How One Bank Turned a Cycling Hobby into a Line of Business appeared first on ABA Banking Journal.

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What types of businesses have used government support during the Covid-19 pandemic?

BankUnderground

Will Banks, Sudipto Karmakar and Danny Walker. This post is the first of a series of posts about the Covid-19 pandemic and its impact on business activity. During the pandemic, UK businesses have received unprecedented levels of government support , set to total 9% of GDP. This has mainly been through the Coronavirus Job Retention Scheme ( CJRS ), under which 1 in 3 employees have been furloughed , and the government-guaranteed loan schemes that were used by 1 in 4 businesses.

Regional 102
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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 Customer Experience Summit to offer key insights into banking trends

ATM Marketplace

The Bank Customer Experience Summit will address key trends in the financial industry and how to reach a more demanding customer base.

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Credit Card Review: LangkaBangla Credit Cards

FluentBanking

LangkaBangla is one of the oldest financial institutions in the country that started its journey back in 1997. Presently only a few NBFI is providing credit card services to its customers. As per our view, it is the most successful credit card service provider among the NBFIs. A LankaBangla credit cardholder can avail almost every benefit of a credit card.

Cards 98
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Funding roundup: New Delhi-based Pine Labs nabs a $600 million investment round

BankInovation

This week, some of the more notable funding rounds included sizeable capital raises for a New Delhi fintech and two European companies, indicating investors ever increasing interest in making headway into Asian and EU markets. Here are?the Bank Automation News highlights. Pine Labs New Delhi-based Pine Labs, a cloud-based merchant commerce platform, announced Tuesday a […].

Capital 98
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Bankcard and Auto Industry Versions of FICO® Score 10 Now Available

FICO

Following the release of the FICO® Score 10 Suite for lenders in 2020, FICO has announced the general availability of industry-specific versions of FICO® Score 10 for U.S. auto lenders and credit card issuers. The industry-tailored scores in the FICO® Score 10 suite are now available from all three major U.S. credit bureaus. Developed using recent data, FICO® Bankcard Score 10 and FICO® Auto Score 10 reflects FICO’s practice of continual innovation to address market and data evolutions.

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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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Qudos Bank wins Best Large Mutual Bank for second year running

Qudos Bank

The results of the 2021 Australia’s Best Banking Awards from financial comparison site mozo.com.au are out, and for the second year running, Qudos Bank has beaten their competitors to the prestigious title of Australia’s Best Large Mutual Bank.

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Getting Started with CDFI and MDI Partnerships

ABA Community Banking

Creating more options for banks of all sizes to reach underserved communities. The post Getting Started with CDFI and MDI Partnerships appeared first on ABA Banking Journal.

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President Biden executive order gives customers more control of financial data

BankInovation

President Joe Biden will sign a sweeping executive order today designed to promote competition in the U.S. While the order primarily targets Big Tech and health care, it also calls for changes in banking and other large economic sectors. Biden’s executive order calls for banks to allow customers to take financial transaction data with them to a competitor, a move that will “make it easier and […].

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UK mortgage price war hots up with 0.94% fixed-rate deal

TheGuardian

Deals offered by HSBC and TSB are available only to borrowers with hefty deposits UK mortgage borrowers now have the choice of two loans with interest rates fixed at 0.94% for two years as the price war between lenders heats up. HSBC and TSB are offering the ultra-low rate, which undercuts the previous best buy of 0.95%, and adds to a rising number of sub-1% deals for borrowers with large deposits.

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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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CFPB Issues Report Addressing Asian American and Pacific Islanders in the Mortgage Market

CFPB Monitor

The CFPB recently issued a report entitled Data Point: Asian American and Pacific Islanders in the Mortgage Market. The report briefly examines differences among subgroups of Asian American and Pacific Islanders (AAPI) based on the 2020 Home Mortgage Disclosure Act (HMDA) data. In issuing the report the CFPB stated that “[e]xisting studies often portray AAPI borrowers as similar in characteristics to non-Hispanic White borrowers and thus imply that the group fares well.

Report 78
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From Advice to Action: Banks’ Evolving Role in Financial Guidance

Banking Exchange

JD Power study found that big banks are leading the way when it comes to financial advice Retail Banking Duties Financial Trends Feature Lines of Business Feature3 Community Banking.

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5 Questions with FedNow CIO Dan Anthony

BankInovation

The large scope of building a national real-time payment system is what strikes Dan Anthony, chief information officer for the Federal Reserve’s real-time payment program, FedNow Service. The native of New Zealand points out that while his home country tends to be more progressive about banking technology, it manages only a handful of banks. New […].

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Cryptocurrency scam costs online dating user £20,000

TheGuardian

Internet cons have surged in the Covid crisis, with some victims left with little recourse to recover cash In early May, James Evans* met a man on the dating app Grindr. The man, who said his name was David, was friendly and chatty. “It started off as a normal conversation,” says Evans. “We moved to WhatsApp and exchanged messages. After a few days he started telling me about crypto trading and how he could show me how it worked and how I could earn money from it.

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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.