Wed.Aug 18, 2021

article thumbnail

What’s a Digital Lending Ecosystem and Why Should Banks Care?

Gonzobanker

Financial institutions aiming for long-term success need to revamp the way they think about digital transformation. There’s a great line in the movie The Princess Bride: “You keep using that word. I do not think it means what you think it means.”. “Inconceivable” is the word the movie character was referring to, but if we were to apply this quote to the banking industry then the word that is constantly being used is “digital transformation” — and based on Cornerstone Advisors’ research, most ban

Lending 178
article thumbnail

KPMG cybersecurity expert Matt Miller joins Sept. 9 panel on bank security and ID best practices

BankInovation

Matt Miller, principal and industry lead in the U.S. Cyber Security Services Banking practice at consultancy KPMG New York, will join a live webinar presented by Bank Automation News on “Automation technology for exceptional bank cybersecurity and ID verification” Sept. 9, at 11:30 a.m. ET. “Cyber fraud and the frequency of losses are increasing,” Miller […].

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

New Cybersecurity Legislation Sparks Concerns Among Financial Trade Groups

Banking Exchange

Groups claim the legislation would hinder, rather enhance, current efforts toward cybersecurity Compliance Technology Duties Cyberfraud/ID Theft Cybersecurity Feature Feature3.

Groups 78
article thumbnail

Open Lending revenue jumps as new lenders join platform

BankInovation

Automation fintech Open Lending logged a jump in revenue and certified loans as auto lenders increasingly signed on to its insurance platform. Open Lending’s artificial intelligence-powered platform allows auto lenders in the prime space to dip down further in the credit spectrum by insuring up to 85% of losses on loans underwritten using its parameters. […].

Lending 98
article thumbnail

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

article thumbnail

Inflation Fears Rife Among US Bankers

Banking Exchange

Although bankers remain positive about the future economic conditions, many are concerned the spike in housing prices poses a serious risk to the US economy Risk Management Feature3 Financial Research Feature Financial Trends The Economy.

US 78

More Trending

article thumbnail

Pandemic Fuels Rise in US Consumer Debit Spending

Banking Exchange

Card-not-present (CNP) transactions soared with the shift to digital commerce Payments Technology Financial Trends Lines of Business The Economy Feature Feature3.

US 78
article thumbnail

Afghanistan Bank Governor on Economic Prospects

Bankelele

Ajmal Ahmady, the acting Governor of the Central Bank of Afghanistan, Da Afghanistan Bank (DAB) in the ousted government has continued to post a series of tweets about events in the country. He answered questions about the country’s reserves, future relations with the IMF, relations with the US, management of the budget and deficit and […].

US 74
article thumbnail

Jobs Bulletin: Truist Banking Chief to Retire

Banking Exchange

Plus: New chief risk officer at MUFG and CEO at State Employers’ Credit Union Management Human Resources Feature Feature3 Bank Performance Lines of Business.

article thumbnail

The Impact of COVID-19 on Credit Card Trends - US, UK, Canada

FICO

This post explores the credit card trends in the US, UK and Canada, reviewing regional differences and focussing on the impact of the pandemic. Part 1 covers activity, limits, utilisation, spend, cash and interest. The data shows that whilst there were some common trends, there were differences in when they first emerged, with the UK seeing the greatest lag.

Trends 52
article thumbnail

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

article thumbnail

Generating Returns from C&I Loans

ABA Community Banking

Community banks look to the senior loan market for solutions to liquidity, competition, yield and growth. The post Generating Returns from C&I Loans appeared first on ABA Banking Journal.

article thumbnail

Asian banks ramp up regional expansion drives

The Banker

In the face of saturated local markets, banks in Japan, South Korea and Singapore are increasingly looking elsewhere in the region.

article thumbnail

This Liberty City Ventures-Backed Crypto Proof-Of-Stake Infrastructure Developer Raised $50M To Expand Its Business

CB Insights

Figment, a blockchain infrastructure and crypto staking provider, has raised $50M in a Series B funding round. The round drew participation from Liberty City Ventures, Senator Investment Group, and Galaxy Digital, among others. HOW’S THE COMPANY PERFORMING. Canada-based Figment develops systems and infrastructure that provide yield on tokens for proof-of-stake (PoS) blockchains.

article thumbnail

XinFin joins the Global Trade Finance Distribution Initiative

The Paypers

XDC Network has been selected to join the global Trade Finance Distribution (TFD) Initiative , a consortium of trade originators, credit insurers, and institutional funders.

46
article thumbnail

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.

article thumbnail

PNC pledges $20B over five years for sustainable finance

American Banker

Groups 101
article thumbnail

Heritage Bank and People's Choice exploring AUD 22 billion merger

The Paypers

Heritage Bank and People’s Choice Credit Union , two of Australia’s customer-owned banking organisations, have agreed to explore a merger opportunity.

41
article thumbnail

Green challenger bank Aspiration going public via a SPAC

American Banker

Fintech 100
article thumbnail

Plaid gets additional series D funding

The Paypers

Plaid has announced additional series D funding, backed up by JP Morgan Private Capital Growth Equity Partners and existing investor Amex Ventures.

Capital 41
article thumbnail

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.

article thumbnail

New York Community boss makes another bold move with Figure deal

American Banker

article thumbnail

AusPayNet releases 2020 payment card fraud data

The Paypers

New data released by the payments industry self-regulatory body, Australian Payments Network (AusPayNet), has shown a slight increase in online card fraud in 2020.

Fraud 39
article thumbnail

How Financial Institutions Can Improve Banking for Hispanic Millennials

The Financial Brand

Younger LatinX consumers are struggling financially for several unique reasons. Banks and credit unions can help (and profit) by stepping in. The post How Financial Institutions Can Improve Banking for Hispanic Millennials appeared first on The Financial Brand - Banking Trends, Analysis & Insights.

article thumbnail

Small banks, credit unions push back against Fed debit-routing proposal

American Banker

article thumbnail

Top 10 Benefits of Automating Loan Modifications for Commercial Lenders

Get ready for the wave of $1.2 trillion in commercial debt maturing in the next 24 months with GoDocs' ModDocs® platform. Traditional loan modifications are slow, expensive, and prone to errors, which put lenders at risk. But with ModDocs®, you can enjoy an innovative solution that eliminates attorney fees, allows on-the-fly loan modifications, and ensures compliance.

article thumbnail

Branch secures USD 540 mln

The Paypers

Branch has raised over USD 540 million to fuel its momentum in delivering flexible workforce payments.

article thumbnail

Nasdaq’s board-diversity plan challenged in court as ‘unfair’

American Banker

81
article thumbnail

Survey by Yooz shows there's a need for invoice automatization

The Paypers

Yooz , a Cloud-based Purchase-to-Pay (P2P) automation software company, has commissioned the first edition of their global report based on a survey of over 1,000 Finance and Accounting decision-makers across eight countries.

Survey 31
article thumbnail

FHFA proposes affordable housing goal for minority communities

American Banker

article thumbnail

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.