Accenture
FEBRUARY 23, 2022
When I was shopping online recently, a new option appeared on the checkout screen that presented me the opportunity to finance my purchase. This new offering is becoming pervasive across all asset types, from laptops to lift trucks, and including services such as vacation travel, on B2C, B2B and even P2P shopping sites. The goal…. The post Finance now!
South State Correspondent
FEBRUARY 23, 2022
The reality is that most banks only design less than half a product. Sure, bankers are great at getting the basics right, but there is rarely much thought around 66% of the product’s design after that. In this article, we look at the elements of excellent bank product design and provide some hacks on how to improve your current product offerings.
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Abrigo
FEBRUARY 23, 2022
Loan Decisioning Allows Small Business Lending to Grow Community financial institutions can leverage automated loan underwriting to increase small business lending and achieve consistency. . Would you like other articles like this in your inbox? Takeaway 1 Financial institutions are using small business loans as a source of growth and this trend will continue. .
Gonzobanker
FEBRUARY 23, 2022
A financial institution’s Banking-as-a-Service strategy needs to be more than an extra credit project for the I.T. department. The Banking-as-a-Service (BaaS) gold rush has clearly begun. Early adopters are earning prestige while investors and a hoard of community banks explore the opportunity to tap into this new source of revenue. However, if BaaS is ever going to enhance shareholder value, bankers need to ensure they have the strategic focus, operational savvy, and execution commitment to do
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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
Abrigo
FEBRUARY 23, 2022
Making small business loans efficient and worthwhile Digitalizing the lending process can help financial institutions win small business loans and meet customers' needs. You might also like this webinar on small business lending best practices. WATCH. Takeaway 1 Lack of efficiency and staffing problems can make small business loans seem like more trouble than they're worth.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
BankInovation
FEBRUARY 23, 2022
$24B Eastern Bank selects Backbase Boston-based Eastern Bank announced last week that it has partnered with digital banking platform provider Backbase to provide enhanced digital account opening for consumer and commercial customers. The $24 billion bank will leverage Backbase’s fintech integrations to create personalized customer experiences and reduce friction in account opening, along with providing […].
TheGuardian
FEBRUARY 23, 2022
Staff bonus pool increases by 17% to £1.3bn as bank reports pre-tax of £8.4bn Barclays is the latest UK bank to boost bonuses following a surge in annual profits linked to the release of cash originally put aside to cushion the blow of the Covid crisis. The lender confirmed it had increased its staff bonus pool by more than 17% to £1.3bn for 2021, having paid out nearly £1.1bn a year earlier even as the pandemic raged.
BankInovation
FEBRUARY 23, 2022
People are increasingly moving between jobs in crypto and the government agencies that police the industry, raising potential conflicts of interest that could undermine efforts to rein in the sector, according to a watchdog group. There have been nearly 240 instances of crypto’s so-called revolving door, where employees leave the government for the private sector […].
CFPB Monitor
FEBRUARY 23, 2022
Yesterday, eight federal agencies joined together to issue an “ Interagency Statement on Special Purpose Credit Programs Under the Equal Credit Opportunity Act and Regulation B ” (Interagency Statement). The agencies consist of the CFPB, FDIC, OCC, Federal Reserve Board, NCUA, HUD, DOJ, and FHFA. The Interagency Statement indicates that it is intended “to remind creditors of the ability under the Equal Credit Opportunity Act (ECOA) and Regulation B to establish special purpose credit programs
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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
BankInovation
FEBRUARY 23, 2022
Scotiabank has launched a new cloud-based wealth management tool for both advisors and retail customers that leverages artificial intelligence (AI) and machine learning to make and monitor investment goals. The Smart Investor platform was created in collaboration with financial services firm SigFig, which has already stood up white-label wealth portfolio management solutions for the likes […].
BankBazaar
FEBRUARY 23, 2022
Although the pandemic has derailed the plans, priorities, and expectations of many, do not get blindsided when it comes to house-hunting and be ready to roll with the punches. . Here is a handy guide for your house-hunting adventure! . Before you take the plunge, having a priority checklist is really helpful. It is important to factor in design, budget, location, legal documentation or procedures, and financing options. .
BankInovation
FEBRUARY 23, 2022
Payments are the lifeblood of digital commerce for all of us. However, the clearing and settling of funds are based on payment infrastructure from another era in many markets. The time to fully process a payment is often measured in minutes, hours, and days instead of seconds. The disconnect between the instantaneous, always-on digital world […].
TheGuardian
FEBRUARY 23, 2022
Oligarchs, sovereign debt, exports and high net worth individuals are targets for UK, US, and EU measures Ukraine crisis: live updates Ministers are preparing tougher sanctions against Russia, which officials said would target UK-based oligarchs, tech exports and sovereign debt. The move follows Boris Johnson’s measures, which were criticised by Conservative MPs for failing to hit Vladimir Putin’s power base hard enough.
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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.
The Paypers
FEBRUARY 23, 2022
Transformative credit assessment platform, Uplinq , has partnered with fundii , an equity fundraising platform dedicated to tech startups across the Middle East and North Africa (MENA) region.
CB Insights
FEBRUARY 23, 2022
Found , a digital bank for freelancers, has raised $60M in a Series B. The round drew participation from Founders Fund and Sequoia Capital. HOW’S THE COMPANY PERFORMING? California-based Found offers a suite of financial services for self-employed workers via its mobile app. Over the past year, the company has increased its customer base by more than 20x.
ABA Community Banking
FEBRUARY 23, 2022
During the CoreConnection session at ABA's Conference for Community Bankers, core provider CEOs sounded notes that will sound familiar to those following the work of ABA's Core Platforms Committee: open APIs, access to data and flexible and transparent contracts. The post Podcast: Have the Cores Stepped Up to the Challenge? appeared first on ABA Banking Journal.
FICO
FEBRUARY 23, 2022
When it comes to fraud, are people worried about the wrong things? New data suggest that people are concerned about fraud, but one of the biggest threats seems to be flying under the radar, at least for consumers. That threat is fraud scams – tactics and techniques that fraudsters are using to trick people into giving away their money. The financial impact of scams is staggering indeed: in the UK alone, authorised push payment (APP) scams accounted for £479 million in gross losses in 2020.
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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.
TheGuardian
FEBRUARY 23, 2022
The murky world of Swiss banking. Plus: Putin makes his move Get the Guardian Weekly delivered to your home address After months of troop buildups and escalating tensions, Vladimir Putin has made his move by ordering Russian forces over the Ukrainian border into the disputed Donbas region. Amid fears the situation could quickly lead to a calamitous war, attention turned to how Ukraine and the wider world would respond.
ABA Community Banking
FEBRUARY 23, 2022
The American Bankers Association and a coalition of trade groups today urged congressional leaders to increase the authorization level for the Small Business Administration’s 504 loan program. Demand is expected to reach the program’s authorization cap of $7.5 billion in early summer, likely June. The post ABA, Trade Groups Urge Congress to Raise Small-Business Loan Program Cap appeared first on ABA Banking Journal.
The Banker
FEBRUARY 23, 2022
The SEC has added its support to the move from a T+2 to T+1 settlement cycle in 2024. And while T+0 remains on the table, a wholesale move has been deferred for now. Marie Kemplay reports.
The Paypers
FEBRUARY 23, 2022
US-based BigCommerce has announced an integration with commerce enabler Digital River to provide mid-market to enterprise merchants an end-to-end solution for cross-border selling and expansion.
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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.
American Banker
FEBRUARY 23, 2022
The Paypers
FEBRUARY 23, 2022
Ireland-based BNPL provider Scalapay has announced that it secured a USD 497 Series B funding round, achieving the unicorn status.
American Banker
FEBRUARY 23, 2022
The Paypers
FEBRUARY 23, 2022
Malta-based casino and sportsbook platform provider Soft2Bet has teamed with payment provider MuchBetter to further augment the payment process for its customers.
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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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