Fed courts nonbanks for FedNow growth
Payments Dive
APRIL 22, 2024
The Federal Reserve is stressing the importance of fintechs and core providers for the future expansion of its new instant payments system FedNow.
Payments Dive
APRIL 22, 2024
The Federal Reserve is stressing the importance of fintechs and core providers for the future expansion of its new instant payments system FedNow.
Perficient
APRIL 24, 2024
Uncovering the Challenge: Relying on Spreadsheets for Portfolio Analysis A leading wealth and asset management firm recently sought our financial services expertise for a critical challenge. Relying on complex spreadsheets for portfolio analysis, the firm faced operational hurdles due to immense computing demands. The Perficient Approach: Transforming Operations through Strategic Consulting Our team embraced the challenge, conducting a meticulous two-week analysis to uncover the root issue: a cu
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Abrigo
APRIL 25, 2024
Recent data and trends of the small business lending market SMB Lending Insights is a snapshot of current financial trends and metrics that impact small and medium-sized business (SMB) lending and financial institutions. You might also like this guide for smarter, faster small business lending. DOWNLOAD Takeaway 1 SMBs and financial institutions face tremendous uncertainty in the current environment, which is characterized by elevated interest rates, high inflation, and growing personal de
South State Correspondent
APRIL 22, 2024
In a few short months, stronger economic data (higher GDP, stronger job market, and stubborn inflation) changed the market’s and the Fed’s view on the future path of interest rates. The market and the Fed are now aligning on only one rate cut in 2024 – obviously this will change over the course of the year as the economic data evolves. The market, and most economists, often get interest rate predictions wrong.
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.
Payments Dive
APRIL 24, 2024
The fintech One now offers buy now, pay later financing at the store chain, presenting competition for Affirm, which has partnered with the retail giant since 2019.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Jack Henry
APRIL 22, 2024
The Magic 8 Ball might be the easiest fortune-telling device available. You simply ask it a question, shake it, then read its response through the little window.
BankBazaar
APRIL 23, 2024
Let’s face it, talking about money isn’t always sunshine and rainbows. We all dream of financial freedom, but the road there can be paved with some pretty epic stumbles. From the infamous “bottomless cocktail brunch” every Sunday that mysteriously drained your savings account to the “surely-I’ll-win-the-lottery” mentality, personal finance fails are a universal experience.
Payments Dive
APRIL 25, 2024
The retailer joins Target, Dollar General and other chains in recalibrating a reliance on self-service, and rethinking the whole checkout experience.
BankUnderground
APRIL 24, 2024
Julian Reynolds Policymakers and market participants consistently cite geopolitical developments as a key risk to the global economy and financial system. But how can one quantify the potential macroeconomic effects of these developments? Applying local projections to a popular metric of geopolitical risk, I show that geopolitical risk weighs on GDP in the central case and increases the severity of adverse outcomes.
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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
APRIL 24, 2024
The store-branded card issuer is raising annual percentage rates and adding fees for paper statements to compensate for lost revenue. The Consumer Financial Protection Bureau's new regulation is scheduled to take effect on May 14.
TheGuardian
APRIL 23, 2024
Bank of England executive says creeping sense of complacency and lack of data is putting lenders at risk UK banks are leaving themselves open to “severe, unexpected losses”, by failing to properly measure how exposed they are to the $8tn private equity industry, the Bank of England has warned. In a speech on Tuesday, Rebecca Jackson, a senior executive at the central bank, said there was a “creeping sense of complacency” among lenders, who – despite a boom in loans and financing to the sector –
Payments Dive
APRIL 24, 2024
The card network behemoth’s latest earnings report showed a contraction in card volume growth during the first three months of the year, and into April.
BankInovation
APRIL 25, 2024
Barclays is looking to cut costs through structural changes as it seeks efficiencies in the face of falling profits. “We achieved around 200 million pounds of gross cost efficiency savings in Q1 out of our targeted 1 billion pounds for the full-year 2024,” Chief Executive C.S. Venkatakrishnan said today during the bank’s first-quarter earnings call.
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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
APRIL 24, 2024
An anti-ESG crusade in Texas exposes the degree to which conservative hype over companies' ESG policies has lost touch with the reality of the market, to the detriment of taxpayers.
TheGuardian
APRIL 24, 2024
Wealthy nations exploit their position as the world’s bankers to siphon off hundreds of billions from the needy Developing nations have long complained that globalisation has enthroned western currencies in such a way as to subsidise living standards in the rich world. Last year , Brazil, Russia, India, China and South Africa – the Brics – even talked of an alternative common currency to replace the dollar.
Payments Dive
APRIL 25, 2024
The Federal Reserve aimed to “not upset the marketplace as a second mover” when it set fees for the new instant payments system last year, a Fed official said Wednesday.
BankInovation
APRIL 24, 2024
Lloyds Bank reported an increase in operating costs in the first quarter driven by higher inflation and increased investment in technology. “Cost management remains a core discipline for us as a group,” Chief Financial Officer William Chalmers said during the bank’s earnings call today.
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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
APRIL 21, 2024
As recently as a few months ago, many observers predicted a surge of bank mergers this year. But longtime obstacles to dealmaking are still there and have been joined by new ones.
The Paypers
APRIL 22, 2024
The UK’s Metropolitan Police has announced that it infiltrated LabHost, a fraud website leveraged by criminals to scam individuals into handing over their personal data.
Payments Dive
APRIL 23, 2024
After successfully raising $150 million in funding, the finance automation platform will have its choice of acquisition targets, according to research firm CB Insights.
BankInovation
APRIL 24, 2024
Bank of America’s innovation is never complete since its team constantly updates offerings to meet ever-changing client needs. “At Bank of America, innovation is everybody’s job,” Jorge Camargo, managing director of mobile app, online banking and Erica AI at Bank of America, told Bank Automation News.
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.
American Banker
APRIL 25, 2024
The state's comptroller of public accounts is one of several notable non-depositories with access to the Fed's payments system, along with the Chicago Mercantile Exchange and the Tennessee Valley Authority. So why do they have accounts while some neobanks don't?
Realwired Appraisal Management Blog
APRIL 24, 2024
Thomas Weller is a seasoned respected CEO of Union Gateway Bank. He’s predictable as the sunrise. Under his leadership, Union Gateway had earned a reputation for its conservative approach, boasting stability and consistent growth. However, this conservative ethos was a double-edged sword, especially as the tech world around them accelerated.
Payments Dive
APRIL 23, 2024
The processing and payments technology giant is increasingly selling its services abroad, but also benefiting lately from sales to government entities at home.
BankInovation
APRIL 23, 2024
Goldman Sachs Group Inc. is closing down its automated-investing business for the masses after clinching a deal with Betterment. The bank has struck an agreement to transfer clients and their assets from the unit known as Marcus Invest to Betterment, a $45 billion digital investment-advisory firm.
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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.
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