Payments Dive
MAY 23, 2024
“All parties in the payments ecosystem would benefit greatly from state laws that provide clarity and consistency between jurisdictions,” write two legal professionals.
South State Correspondent
MAY 22, 2024
Between now and the end of 2027, it is estimated that $2.2T of office loans is coming due. Much of this product lies on banks’ balance sheets. A high percentage of those office loans on banks’ balance sheet are balloon structures where the bulk of the loan’s principal is due. Equally worrisome is the large number of loans on banks’ balance sheets that are due for a rate reset where the interest rate will be almost double, thereby putting stress on borrowers.
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BankInovation
MAY 22, 2024
JPMorgan Chase has identified three uses for generative AI to boost efficiency. “AI, and particularly large language models, will be transformational,” Chief Operating Officer Daniel Pinto said during the bank’s Investor Day on May 20, noting that the bank has been investing in AI for “a number of years.” The $3.
Gonzobanker
MAY 23, 2024
It’s “leave your emotions at the door” time when making a core system decision. Esteemed Gonzo readers, let’s get right to one of the core challenges in banking. Every financial institution needs to get real, tangible returns on every technology investment it makes, and core systems are a critical piece in increasing or hurting these returns.
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Automation generally supercharges any process and brings its value to the forefront. See how infusing automation such as ART (our month-end close solution), into your close can get you to the next level of closing. We will share a live demo of SkyStem's solution, ART and share the key elements of month-end close automation. Through ART, we'll take a look at: What month-end close automation entails Which process steps can and should be automated Benefits of achieving process automation, and Why i
ABA Community Banking
MAY 23, 2024
Roughly 30% of military families cite low income and lack of stability as a “primary challenge” they face with their current financial products and services, according to a new survey by the Fort Leavenworth, Kansas-based Armed Forces Bank. The post Bank survey: Military families cite low income, inflation as financial product challenges appeared first on ABA Banking Journal.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Commercial Lending USA
MAY 21, 2024
DSCR loans, "Debt Service Coverage Ratio loans," are financing for real estate investors that put the property's cash flow ahead of standard creditworthiness checks. This makes them a valuable tool for investors who want to grow their portfolios.
BankInovation
MAY 22, 2024
Fintech Lili, which provides a business platform for small and medium-sized businesses, has teamed up with Amazon Web Services to deploy a generative AI-driven chatbot for its customers.
TheGuardian
MAY 21, 2024
While the big beasts of Wall Street rail against WFH, Mike Regnier of Santander UK says he wouldn’t have taken the job if he had had to commute all week At a time when banking bosses from Wall Street to Canary Wharf have been cracking down on working from home, Santander UK’s chief executive remains an outlier. While Goldman Sachs’s David Solomon has described home working as an “aberration” , and JP Morgan’s Jamie Dimon calls himself a “skeptic” of the trend that took off during the pandemic,
American Banker
MAY 22, 2024
Executives from JPMorgan Chase, Bank of America and Wells Fargo are expected to get grilled in Congress this summer over victims of Zelle scams who don't get reimbursed. A Senate panel has spent much of the last year examining fraud on the bank-owned payments network.
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Dive into the complexities of New York lien laws with our comprehensive eBook, 'New York Lien Law Essentials: 5 Key Facts for Commercial Lenders.' In this detailed guide, we explore the critical formalities necessary for lenders navigating ground-up construction and fix-and-flip projects in the New York market. From documentation requirements to the implications of non-compliance, learn how to safeguard your lending position and prioritize legal adherence.
Payments Dive
MAY 20, 2024
Young consumers are open to using the peer-to-peer payments app as their primary bank, but many say they won’t switch because they value having a physical branch.
Commercial Lending USA
MAY 17, 2024
One of the largest companies that offers business loans is Commercial Lending USA. You can get money from them to help your business grow and stay ahead of the competition.
BankInovation
MAY 23, 2024
TD Bank is exploring the use of generative AI within its institution through pilot programs. “Understanding how generative AI can be used to augment the work of our colleagues has always been our focus,” Imran Khan, head of TD Invent, the bank’s innovation arm, told Bank Automation News.
ATM Marketplace
MAY 17, 2024
The future of ATMs lies not as machines that just dispense cash, but rather as multifunctional banking kiosks,
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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
MAY 22, 2024
Santander joins Iberpay as the first supporters of the European Payment Council's instant account-to-account network, Australian lawmakers approved bills to create a federated digital identity system, and more.
Payments Dive
MAY 23, 2024
This week, South Carolina became the fifth state to enact a law regulating earned wage access providers, but it doesn’t subject them to lending laws.
The Paypers
MAY 20, 2024
Spain-based Santander , in collaboration with Iberpay , has announced that it processed one of the first instant transfers based on the EPC’s OCT Inst scheme.
BankInovation
MAY 20, 2024
JPMorgan Chase considers customer needs, competition and time to market when approaching product launches for small-business clients. “We really try to keep the small-business owner at the center of all of that innovation process at Chase for Business,” Jameson Troutman, head of product for small business at JPMorgan Chase, told Bank Automation News.
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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.
ATM Marketplace
MAY 21, 2024
ATM Marketplace spoke with Bank of America about the Erica chatbot and its continued development as an AI banking tool.
American Banker
MAY 23, 2024
The bank took a big hit on an office property in Washington, D.C., during the first quarter. This month, it filed a shelf registration statement for an offering of up to $150 million that could be used to bolster capital or refinance debt.
Payments Dive
MAY 22, 2024
American Express and Capital One cardholders can now see what rewards they would earn from purchases when checking out with Google Pay, the tech giant said in a blog post.
BankUnderground
MAY 23, 2024
Marco Garofalo, Giovanni Rosso and Roger Vicquery Most international trade is denominated in dominant currencies such as the US dollar. What explains the adoption of dominant currency pricing and what are its macroeconomic implications? In a recent paper , we explore a rare instance of transition in aggregate export invoicing patterns. In the aftermath of the depreciation that followed the Brexit referendum in 2016, UK exporters progressively shifted to invoicing most of their exports in dollars
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.
BankInovation
MAY 17, 2024
Small business clients looking to make data-driven business decisions within their operations don’t always know how to tap into their data, but JPMorgan Chase has created a solution to deliver these insights.
The Paypers
MAY 22, 2024
The Hong Kong Monetary Authority ( HKMA ) and the People’s Bank of China ( PBoC ) have advanced the e-CNY pilot for cross-boundary payments, expanding its scope in Hong Kong.
American Banker
MAY 22, 2024
Royal Bank of Canada, in partnership with TIFIN, is testing a pilot to provide its wealth management advisors with AI tools to see what the technology can do.
Payments Dive
MAY 21, 2024
The fledgling U.S. instant payments system can learn from real-time systems that have flourished in Brazil and India using QR codes and broad missions, say industry professionals.
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Most people dread the nearing of the month-end close and reconciliation process, and who can blame them? It's typically a tedious, long, stressful process; but it doesn't have to be. Implementing automation into your month-end process can significantly reduce this headache by automating up to 40% of your reconciliation and saving nearly 30% of your time spent.
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