Perficient
FEBRUARY 16, 2022
Cryptocurrency continues to grow, and Perficient is committed to helping financial services clients continue to understand and navigate this fast-changing part of the economy. Over the last 90 days, we have let clients know about the federal banking regulators planned cryptocurrency road map , explained what steps national banks need to take to begin crypto activities , provided thoughts on the possibility of a U.S.
CFPB Monitor
FEBRUARY 16, 2022
Although several court decisions have held that ringless voicemails to a consumer’s cell phone constitute “calls” subject to the Telephone Consumer Protection Act (TCPA) autodialer prohibition, the Federal Communications Commission (FCC) has not yet officially weighed in on the question. In 2017, a marketing company filed a petition with the FCC seeking a declaratory ruling that the technology was not subject to the TCPA but the petition was withdrawn.
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TheGuardian
FEBRUARY 16, 2022
International watchdog highlights stablecoins as particular concern in absence of regulation The booming crypto assets market could pose a serious threat to financial stability if regulators fail to take action, a global watchdog has said. The Financial Stability Board (FSB), which monitors financial authorities in 24 countries, is concerned that the scale and structural vulnerabilities of crypto markets – as well as increasing interconnectedness with traditional financial systems – have the pot
BankInovation
FEBRUARY 16, 2022
Artificial intelligence (AI)-based lending platform Upstart expects to facilitate $1.5 billion in auto loans on its platform in 2022 on the heels of accelerated growth in 2021. Upstart’s bank partners originated 495,205 auto and personal loans totaling $4.1 billion on the platform in Q4 2021, a year-over-year increase of 301%, according to the company’s earnings […].
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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
ABA Community Banking
FEBRUARY 16, 2022
Amid persistent inflation and supply chain kinks, small businesses are finding more and more that "cash is king," especially as their suppliers are likelier to ask for cash up front. The post Podcast: Providing Liquidity for Small Businesses Amid Supply Chain Kinks 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.
CFPB Monitor
FEBRUARY 16, 2022
The CFPB has published a table that shows the overdraft/NSF practices of the 20 banks with the most overdraft/NSF revenue through the first three quarters of 2021. According to the CFPB, the table reflects over 80% of the total overdraft/NSF fees earned by banks with assets over $1 billion. The information in the table is based on publicly available information, including press releases, publicly available account disclosures, and news reports.
BankInovation
FEBRUARY 16, 2022
Financial institutions, especially those dealing with large deposits like wealth management firms, have a dilemma when it comes to compliance with Know Your Customer (KYC), Anti-Money Laundering (AML) data collection and other regulatory requirements. On the one hand, firms and their advisors must comply with these regulations – they are in no way optional.
CFPB Monitor
FEBRUARY 16, 2022
Around the nation, regulators are preparing to implement and enforce new consumer-like disclosure laws for small business commercial finance providers. New York regulators have yet to issue final regulations implementing the state’s Commercial Finance Disclosure Law (CFDL), which went into effect on January 1, 2022. As we previously reported , the New York State Department of Financial Services (NYDFS) advised that commercial finance providers’ obligations under the CFDL do not ripen until the
BankInovation
FEBRUARY 16, 2022
Core provider Jack Henry is responding to a widespread shift in the financial services landscape with an open banking strategy that aims to facilitate a fintech-enabled digital ecosystem for community banks. The fintech disruptions and digital innovation that have caused sweeping changes in financial services have pushed local and regional banks to adjust.
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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
FICO
FEBRUARY 16, 2022
Banks must be prepared to help stop scams, including making customers more aware of the danger, all while continuing to ensure an exemplary customer experience. FICO published our 2021 Digital Consumer Banking and Fraud Survey today that emphasizes consumer perspectives on customer experience and fraud prevention management. . Survey Findings: Digital Dominates, But Customer Experience Remains Important.
CB Insights
FEBRUARY 16, 2022
RapidRatings , a supplier risk management software provider, has raised $200M in a Series C funding round that drew participation from 22C Capital and Spectrum Equity. HOW’S THE COMPANY PERFORMING? New York-based RapidRatings assesses the financial health of companies, allowing its customers to manage the risk associated with third-party organizations, such as suppliers and vendors.
FICO
FEBRUARY 16, 2022
Even before the impact of the global pandemic started to bite, banks were being asked to help bridge an estimated US$3.4 trillion SME funding gap in unmet trade finance, with demand for funding of small businesses rapidly becoming an acute challenge. It’s a mind-boggling number largely driven by demand for unfilled or rejected trade finance applications tabled by small businesses in emerging markets.
The Paypers
FEBRUARY 16, 2022
Zbooni , a UAE-based connected commerce (ccommerce) platform, has announced its launch in Egypt, providing digital commerce tools for SMEs across the country.
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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.
FICO
FEBRUARY 16, 2022
Banks must be prepared to help stop scams, including making customers more aware of the danger, all while continuing to ensure an exemplary customer experience. FICO published our 2021 Digital Consumer Banking and Fraud Survey today that emphasizes consumer perspectives on customer experience and fraud prevention management. . Survey Findings: Digital Dominates, But Customer Experience Remains Important.
The Paypers
FEBRUARY 16, 2022
Switzerland-based watch company Hublot has announced partnering with cryptocurrency and digital asset platform LEDGER to introduce a limited Big Bang Unico watch with a Ledger Nano X crypto wallet.
ATM Marketplace
FEBRUARY 16, 2022
The OperationsBridge™ device monitoring and management platform empowers users with the flexibility to transform their business.
The Paypers
FEBRUARY 16, 2022
Detected , a component for global KYB compliance, has raised an additional GBP 1.5 million, adding to GBP 2 million seeded in previous funding rounds.
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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.
The Paypers
FEBRUARY 16, 2022
ING Bank Romania has announced the launching of the ING SoftPOS app that turns Android mobile devices into POS.
The Paypers
FEBRUARY 16, 2022
UK-based payment ecosystem provider Monneo has announced the launch of Pixelpay, a financial product designed for the affiliate marketing industry.
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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.
The Paypers
FEBRUARY 16, 2022
Sweden-based fintech Zimpler has partnered with Rabble to enable instant payouts to customers in Sweden as the latter launches its cashback app.
The Paypers
FEBRUARY 16, 2022
Arvato Financial Solutions has acquired a stake in Switzerland logistics digitalisation Nexxiot , continuing to invest in solutions that advance global supply chain precision and dependability.
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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.
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