Fri.Mar 24, 2023

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Banking sell-off intensifies amid renewed global jitters – business live

TheGuardian

Stock markets slide as banking shares and oil prices tumble; Bank of England governor Andrew Bailey appeals to businesses to avoid price rises because higher inflation ‘hurts least well-off in society’ Stock markets are in the red again, with the FTSE 100 index down 67 points, or 0.9%, at 7,431, dragged down by banks NatWest Group , Barclays , Standard Chartered and the insurer Prudential , as concerns over the banking sector persist.

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CFPB seeks to improve credit card transparency

Payments Dive

The agency wants to give consumers more information from credit card issuers so that it’s easier to compare the cards’ offers, especially their interest rates.

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Conducting an exam-proof AML/CFT risk assessment for credit unions

Abrigo

Best practices for your BSA/AML risk assessment Learn top tips for creating a risk assessment to capture your credit union's risk. You might also like this resource: "BSA/AML risk assessment checklist." READ Takeaway 1 Documentation is one of the most critical aspects of performing a risk assessment. Takeaway 2 Inherent risk and residual risk should be evaluated before mitigating factors are considered.

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CFPB funding is constitutional, 2nd Circuit court rules

Payments Dive

The decision creates a clear conflict between the Second and Fifth Circuits, providing the Supreme Court with further incentive to directly resolve the issue, said an attorney at Dorsey & Whitney.

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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

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Where's the ATM industry headed?

ATM Marketplace

Within the ATM industry, certain issues are omnipresent, such as security concerns, software upgrades and dealing with cashless trends. However, the more time I spend in this space, the more I notice certain trends are filtering into the industry and slowly leading to big changes.

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Deutsche Bank leads sell-off in European bank shares

TheGuardian

FTSE 100 also falls amid fears another bank could slip into trouble after UBS takeover of Credit Suisse Business live updates: banking sell-off intensifies Germany’s Deutsche Bank has led a sell-off in European banking shares amid mounting fears another bank could slip into trouble after the emergency merger of UBS and Credit Suisse last week. However, some strategists and investors cautioned that it might be a fear-induced sell-off, rather than having been triggered by concerns over liquidity a

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How banks modernize digital core, keep in reg compliance

BankInovation

Banks know that to gain a competitive edge in the market and better service customers, they must modernize their tech stack. There is a definite awareness of the challenges that legacy core providers face in keeping up with the evolution of today’s digital banking demands.

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Head of Credit Suisse talks of his profound sadness over UBS takeover

TheGuardian

Ulrich Körner acknowledges an ‘emotional and challenging week’ after deal was forced through by Swiss authorities Business live: latest coverage Deutsche Bank leads sell-off in European bank shares The chief executive of stricken Credit Suisse has said that he shares its employees’ “profound sadness and disappointment” after its emergency takeover by rival UBS earlier this week.

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Data aggregation ‘a differentiator’ for FIs

BankInovation

Data aggregation tools like those offered by Envestnet | Yodlee are helping banks attain an improved return on investments and enhanced customer experience, as financial institutions using the tool saw a 416% return on investment following a three-year period ending in January.

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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

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Central Bank of UAE reveals a new CBDC strategy

The Paypers

The Central Bank of UAE has revealed its plans to complete the first phase of its central bank digital currency project in mid-2024.

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Listen: Citi Treasury and Trade Solutions improves CX, grows revenue 34%

BankInovation

Citi Treasury and Trade Solutions is improving customer experience and growing its annual revenue through its platform modernization investments for better use of its data.

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Deutsche Bank is no Credit Suisse, despite investors’ fears | Nils Pratley

TheGuardian

German lender’s shares were hit by general loss of confidence, not by any specific failings It’s rarely a good sign when politicians, in the middle of a crash in the share price of their country’s biggest financial institution, declare there’s nothing to worry about. Such remarks often just feed a sense of panic. The German chancellor, Olaf Scholz, would have been better advised to say nothing about Deutsche Bank.

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TD Auto to integrate loan payments on bank app

BankInovation

TD Auto Finance plans to launch an integrated digital experience in the third quarter that allows customers to manage their auto loan using the bank’s mobile app.

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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.

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Banking crisis ripple effects hit the payments industry

American Banker

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Emirates NBD furthers Plug and Play Abu Dhabi partnership

The Paypers

Banking group Emirates NBD has furthered its partnership with innovation enabler Plug and Play Abu Dhabi to tap fintech potential for risk management and cybersecurity models.

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New strategy for old bank: All-digital and 'pro-America'

American Banker

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Plend partners GoCardless for variable recurring payments

The Paypers

UK-based ethical lender Plend has partnered with Open Banking provider GoCardless to offer variable recurring payments (VRPs) via the latter’s Instant Bank Pay feature.

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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.

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Lenders find more uses for alternative credit data

American Banker

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Kredivo raises USD 270 mln in series D

The Paypers

Kredivo Holdings, the Singapore-based parent company of Kredivo and Krom Bank Indonesia , has raised USD 270 million in a series D round led by Japan’s Mizuho Bank.

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Bank borrowing from Fed facilities stabilizes

American Banker

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Kraken explores new ACH funding options

The Paypers

Digital asset exchange Kraken has notified its users via email that that it won’t be able to support ACH deposits and withdrawals starting from 27 March.

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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.

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Liquidity or housing? Why can't the Home Loan banks support both?

American Banker

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Brex launches in-app travel solution

The Paypers

US-based financial service and technology company Brex has expanded into travel, with members of Empower being able to book travel inside the Brex mobile app.

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TD Bank pilots a web accessibility tool

American Banker

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Unzer rolls out 'upaylater', a Buy Now, Pay Later product

The Paypers

Germany-based payment processing provider Unzer has launched its new Buy Now, Pay Later (BNPL) product, called upaylater.

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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.