Bank Stocks Rise To Highest Rate Since 2007

PYMNTS

Over the last 10 years, the banking industry hasn’t been viewed in the best light. Since the 2008 recession and subsequent financial bailout, banks have experienced a multitude of ups and downs. This week, however, there appears to be a light at the end of the banking tunnel. Following President Trump’s Tuesday (Mar. 1) address to Congress, the KBW Nasdaq Bank index , which measures 24 of the largest U.S. bank stocks, saw an increase of over 3 percent to a total of 32 percent.

In One Way, the U.S. Mortgage Market Looks Just Like It Did in 2007

American Banker

The U.S. mortgage market is of course considerably smaller, safer and less accessible than it was nine years ago. breaking_news national-regional occ mortgage consumer-finance

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2007 reprise: Could FaceBook risk becoming another AOL?

The Bankwatch

Here is something I wrote in 2007. Could Facebook Risk becoming another AOL ). The context was different, ok, a lot different given that is 9 years ago and I was thinking about Lending Club who were only available within FaceBook, but I believe the conclusion stands.

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2007 reprise: Could FaceBook risk becoming another AOL?

The Bankwatch

Here is something I wrote in 2007. Could Facebook Risk becoming another AOL ). The context was different, ok, a lot different given that is 9 years ago and I was thinking about Lending Club who were only available within FaceBook, but I believe the conclusion stands.

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Wells chief comments on mortgages sounds like a preview of another 2007

The Bankwatch

Somehow this article out of the blue took me straight back to 2007. Wells Fargo hold a gun to the Governments head on poor quality mortgages. There still remains a fundamental gap in what Banks believe their role is, compared to what is expected from Government. The concept of government guaranteed mortgages helps many new homeowners but it is also a mis-used function that skews risk management. By definition it eliminates risk for banks.

Q: Do investors believe bank digital transformations are succeeding? A: No.

Chris Skinner

Anyone who’s read this blog since 2007 or my books since 2014 will know that I have a regular rallying call: replace core systems; refresh the bank’s technology stack to an open architecture; embrace APIs, apps and analytics; deep dive on data; transform to be digital and not industrial; rethink … The post Q: Do investors believe bank digital transformations are succeeding? A: No. appeared first on Chris Skinner's blog. Digital Bank Future Grid

Did you realise it’s only 10 years since the iPhone was released?

Chris Skinner

Steve Jobs unveiled the new phone on January 9th, 2007. The first iPhones were made available to the grubby hands of the public on June 29th, 2007, exactly ten years ago today. market share in 2007, 16.6% It’s a decade since the iPhone launched.

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Ten years since the crisis hit, what’s new?

Chris Skinner

On August 9 2007, BNP Paribas froze three of its American funds, the first in a chain of events which would lead to the biggest recession since the Great Depression. Last week marked ten years since the financial crisis hit.

Fiserv updates online bill pay for banks, plans real-time payments

Payments Source

Leveraging new technology and APIs, Fiserv has rolled out CheckFree Next, a major update of the core CheckFree bill payment technology Fiserv acquired in 2007.

How Your Bank Can Make Construction Lending More Profitable

Banker to Banker

Construction and Land Development loans (C&D loans) drove a substantial portion of the loan growth at community banks between 2000 and 2007, especially for banks under $2B in assets. Compared to their peak in 2007, current C&D loan portfolios are relatively small

Mortgage Origination Demand Hit Pre-Crisis High in 2Q

American Banker

Home purchase lending hit its highest point since 2007 as low interest rates and growing consumer confidence continue to support the housing market.

Household Debt Exceeds $14T After 2019 Spike

PYMNTS

The last time there was that much of an increase was in 2007, when debt topped $1 trillion. The growth was mainly driven by mortgage debt balances, which went up $433 billion – again, the largest gain since 2007. Household debt in the U.S.

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Check Founder Launches Next Insurance to Insure Small Businesses

Bank Innovation

Pageonce launched in 2007 to help consumers keep track of Read More. It’s no secret insurance is difficult for consumers to understand, and small business insurance is even more complicated than personal insurance.

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The European banking system is flat-lining

Chris Skinner

By 2007, bank assets in many developed countries had reached in excess of 100 per cent of gross domestic product (“GDP”). In 2007, bank assets in the US were around 78 per cent of GDP.

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Things worth reading: 26th June 2017

Chris Skinner

Things we’re reading today include … Push on with the ‘great unwinding’, BIS tells central banks RBS to cut 443 jobs in UK, move many of them to India Bank of England faces echoes of the 2007 crunch as Brits are back to their bad old habits racking up debt Bank of England poised to act as credit card market overheats Defiant Barclays digs in for US battle Italian government decree for Veneto banks delayed to Sunday: source House Democrats challenge Deutsche Bank over review of Trump’s accounts Luxembourg’s politicians pin economic hopes on fintech drive. The post Things worth reading: 26th June 2017 appeared first on Chris Skinner's blog. Reading

Fidor Bank Closing In on U.S. Launch

Bank Innovation

Fidor began in Munich in 2007, and gained traction as a digital bank during and after the financial crisis. Fidor Bank is closer to its U.S. launch, but is still missing a critical piece to complete its services: a bank charter.

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Broadridge head of strategy outlines innovation by acquisition approach

Bobsguide

Since 2007, Broadridge has announced the acquisition of 29 companies, three of which have been in 2018. At Sibos 2018 in Sydney, the company announced another newly acquired solution, a next generation, SaaS global asset servicing tool. The new solution looks to leverage cloud

EU Probe: Danske Ignored Russia’s Money Laundering Warnings

PYMNTS

The warnings were sent in 2007 and 2013, and the information stems from the outcome of an investigation by the European Banking Authority (EBA).

Use These Tactics To Position Your Bank For Changes In The Yield Curve

Banker to Banker

This data covers from 2007 to the present and shows how loan growth, particularly over the past year, has been strong While some banks are challenged to expand or even maintain loan balances, the industry has experienced impressive loan growth over the last four and one-half years.

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Teen Workers Rejoin Restaurant Workforce

PYMNTS

million — teens worked in restaurants last year per the Bureau of Labor Statistics, which was the same level as in 2007 before the recession, CNBC reported. percent of teens had a job in 2007, only 35.1

7. Leslie Godridge, U.S. Bancorp

American Banker

Bancorp in 2007, has been the driving force in the growth of both. Bancorp wouldn't have much of a wholesale banking business without Leslie Godridge. The wholesale unit's two main business lines are national corporate banking and global treasury management and Godridge, who joined U.S.

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European Central Bank To Launch Network Of Watchdogs To Fight Money Laundering

PYMNTS

Wilkinson, who was head of Danske Bank’s trading unit in the Baltics from 2007 to 2014, wouldn’t name the banks during the hearing. billion in payments made through the branch from 2007 through 2015.

Risk or Warning – What Bankers Are Thinking After Yesterday’s Signal

Banker to Banker

Back in October and November of 2007, yields dropped 20+ basis points and credit spreads increased by more than 10%. It ended up be a signal as the next month the US found itself in a recession.

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Ally to Pay $52M to Settle Subprime RMBS Investigation

American Banker

Ally Financial in Detroit has agreed to pay $52 million to settle probes and claims related to its role as the underwriter for subprime mortgage backed securities in 2006 and 2007. breaking_news national-regional law-regulation auto mortgage mi consumer-finance

Walgreens Edges Close To Going Private

PYMNTS

If bought at that price, the leveraged buyout would vastly outstrip the previous record holder — the 2007 sale of utility TXU Corp. But Walgreens and KKR have history, as the firms partnered for the Walgreens acquisition of Alliance Boots in 2007.

Danske Bank Whistleblower: Major European Bank, U.S. Lenders Involved

PYMNTS

According to a report in Reuters , Wilkinson, who was head of Danske Bank’s trading unit in the Baltics from 2007 to 2014, wouldn’t name the banks during the hearing. billion in payments made through the branch from 2007 through 2015. “I

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Crisis impact lingers in banks' payment considerations

Bobsguide

2007 The credit crisis that tore apart the banking sector has had a lasting impact on the way the industry works with third parties, particularly within the payments space.

IKEA To Shutter UK Store Due To Fewer-Than-Expected Shoppers

PYMNTS

The Coventry location had regularly notched losses as of its 2007 opening, with customers opting to shop through eCommerce or visit retail parks, The Financial Times reported.

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Bank Planned in Market Once Known as Industry's 'Ring of Death'

American Banker

The application process is worth watching since the group is seeking the first Georgia charter in seven years and would be based in a market where more than 90 banks have failed since 2007. Pacific Metro Bank would cater to Chinese-Americans around Atlanta.

The role of cybersecurity due diligence as an M&A priority

Bobsguide

Last year alone, M&A activity reached fever pitch, with the global market valued at over $4 trillion – its highest since 2007. If 2016 follows suit, we’re looking at over 18,000 M&A events to occur this year, many of which may be “megadeals” exceeding $50B

Does bigger mean more efficient?

Abrigo

He pulled numbers from both 2007 and 2014 to elucidate differences in asset categories at present, as well as how they compare over time. After the $100B mark, efficiency ratio actually increased in both the 2007 and 2014 time periods. With size comes economies of scale.

So what's up with the Google-licenses

Money and Payments

Google already has a license since 2007 Most people forget this, but the earliest register entry for Google dates back to 2007 for E-money, and was handed out to Google Payment Limited in London. Last weeks, we hear all kinds of stories on the Google-license, so let's have a closer look. I blogged about it then, and since then we could see a Google Wallet in the works, Google bucks.

Commercial Real Estate Hedging: Point/Counterpoint

Banker to Banker

above their peak levels from back in 2007. Commercial real estate (CRE) lending for banks continues to be at near-record tight spreads because of the favorable economics. Property prices are up an average of 4.7% for the first quarter and are now 8.2%

Domino’s Mobile Order-Ahead 2.0: How Voice, 5G Can Deliver

PYMNTS

Domino’s took its first digital ordering step by introducing a delivery feature on its website in 2007. Its per-store revenue has grown from $600,000 per year in 2007, when it first launched digital ordering, to approximately $1.2

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Estonia, fake news and digital identity

BankNXT

Since 2007, Estonia has operated a universal national digital identity scheme using blockchain. Or has it? Dave Birch unearths the truth. Estonia, fake news and digital identity on BankNXT. Fintech Payments Security blockchain Dave Birch digital ID

The Finanser’s Week: 25th June – 2nd July 2017

Chris Skinner

Steve Jobs unveiled the new phone on January 9th, 2007. The first iPhones were made available to the grubby hands of the public on June 29th, 2007, exactly ten years ago today.

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The Top 1000 banks in the world

Chris Skinner

In the 2007 ranking, UK banks collectively made $17.3bn in pre-tax profits, a 32% fall on the previous year, and approximately a quarter of what they made before the financial crisis.

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