SWBC's LenderHub
JANUARY 24, 2022
Semiconductor supply chain issues caused major headaches for auto lenders throughout 2021 and vehicle production continues to suffer into 2022. In this blog post, we’ll take a deep dive into how demand for computer chips is expected to impact auto sales in the coming months.
BankInovation
JANUARY 24, 2022
Florida-based Locality Bank is partnering with banking core vendor Nymbus to provide integrated digital banking services to small business customers, launching this month with a focus on cloud-native community banking and lending. The $35 million challenger bank also has a physical branch for hybrid customers, Chief Technology Officer Corey LeBlanc told Bank Automation News.
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SWBC's LenderHub
JANUARY 24, 2022
Last Week. Last week was simply brutal. In rates, a 100% probability of four FOMC rate hikes in 2022 is priced into the front of the yield curve with some, like Goldman Sachs, predicting a hike at every meeting starting March 16 or seven in total. Meanwhile, the Treasury yield curve flattened as signs point to a slowing recovery. Combining a slow down with the specter of the Fed aggressively tightening policy is most unpleasant.
BankInovation
JANUARY 24, 2022
The U.S. will likely move forward with its own digital currency, with issuance occurring between 2025 and 2030, according to Bank of America Corp. U.S. government-backed coins, also known as central bank digital currencies, or CBDCs, “are an inevitable evolution of today’s electronic currencies,” strategists Alkesh Shah and Andrew Moss, wrote in a report Monday. […].
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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
Banking Exchange
JANUARY 24, 2022
In addition, Nicolet National Bank names chief innovation officer and Trustmark National Bank hires chief risk officer Risk Management Feature3 Feature Human Resources Management.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Banking Exchange
JANUARY 24, 2022
Central bank digital currency could “fundamentally change the structure of the US financial system” Compliance Duties Lines of Business Financial Trends Feature Feature3 Digital Blockchain Bitcoin Cryptocurrency.
BankInovation
JANUARY 24, 2022
PNC will continue to expand its automation efforts and IT spend in 2022, responding in part to the “Great Resignation,” or the unusually high number of workers quitting their jobs recently. The resignation trend is leading to greater wage pressure for businesses, said PNC Chairman, President and CEO William Demchak during last week’s fourth-quarter earnings […].
CFPB Monitor
JANUARY 24, 2022
Having sent orders last month to five companies that offer buy-now-pay-later (BNPL) products directing them to provide information to the Bureau, the CFPB published a notice in today’s Federal Register seeking public comment to inform its inquiry into BPNL products. Comments must be filed by March 25, 2022. In a blog post about the request for comments, the CFPB indicated that “some analysts have suggested that BNPL has rerouted big holiday shopping money away from the credit card companies tow
ABA Community Banking
JANUARY 24, 2022
The FDIC today said it has partnered with the nonprofit Operation Hope to promote financial education to minority and women-owned businesses. Through the partnership, Operation Hope will use the FDIC's Money Smart financial education resources to help teach how to do business with the agency. The post FDIC Partners With Operation Hope to Promote Financial Education appeared first on ABA Banking Journal.
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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
CFPB Monitor
JANUARY 24, 2022
The OCC announced this week that it has conditionally approved applications from Social Finance Inc. (SoFi) to create SoFi Bank, National Association (SoFi Bank, N.A.), as a full service national bank headquartered in Cottonwood Heights, Utah. The OCC’s press release indicates that as part of the transaction, SoFi Bank, N.A. is acquiring Golden Pacific Bank, National Association, an insured national bank, and will continue to offer a range of local commercial-focused loan and deposit products pr
TheGuardian
JANUARY 24, 2022
Shares fall by nearly 30% in early trading as company is hit by staff absences and chip shortages The banknote printer De La Rue has issued a profit warning after suffering from higher Covid-19 costs including staff absences and computer chip shortages. The company’s adjusted operating profit for the year to 26 March will be between £36m and £40m, rather than the £45m to £47m expected by investment bank analysts, it said in trading update on Monday.
CB Insights
JANUARY 24, 2022
Plaid , an open banking fintech unicorn, has acquired Cognito , an identity verification startup, for $250M in cash and stock. WHO ARE THE PARTIES TO THE DEAL? Cognito: California-based Cognito provides business and consumer identity verification and compliance solutions. The company currently has over 300 clients, and it has verified 76M IDs to date.
MerhantsBanks
JANUARY 24, 2022
Merchants Bank Equipment Finance (MBEF) has expanded its team with the promotion of Jane Ziebarth to Document Transaction Manager/Officer and the addition of Bryon Sharp as VP/Senior Regional Vendor Finance Manager, according to Rick Barry, President. “The promotion of Jane and the key hire in Bryon strategically complement the manner in which we are continually expanding […].
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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
JANUARY 24, 2022
Debt collection is about contacting customers, and that only works with correct contact data. Contact data quality in debt collection is a common challenge, and we often get asked how to best address this. 1. Get Contact Data Before You Need It. It is much easier to get valid contact data from your customers than from a third party. And updating contact data when you need to contact a customer as part of a collections process is typically much harder than in originations or account management.
CB Insights
JANUARY 24, 2022
Gale Healthcare Solutions , a temporary healthcare staffing platform, has raised $60M in growth equity funding from FTV Capital. HOW’S THE COMPANY PERFORMING? Florida-based Gale Healthcare Solutions connects nurses and healthcare professionals with open positions at health facilities. The company maintains a network of 500+ nursing professionals — they support 39K+ clinicians that collectively deliver more than 10M hours of care and services across 38 states.
BankDeals
JANUARY 24, 2022
Credit One Bank recently unveiled its nationally available Jumbo CD product line. Minimum opening deposit is $100k, with no stated balance caps.
The Paypers
JANUARY 24, 2022
Global sportswear manufacturer Adidas and Italy-based luxury fashion house Prada have partnered to launch a new NFT project based on the Polygon blockchain.
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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
JANUARY 24, 2022
Argentina based ecommerce platform Mercado Libre has acquired shares in the 2TM Group , parent company of Mercado Bitcoin, and made an investment in Paxos.
The Paypers
JANUARY 24, 2022
Russia's central bank has suggested making crypto trading, mining, and usage illegal, although owning crypto would be allowed.
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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
JANUARY 24, 2022
Germany-based payment and marketplace company aye4fin and payment service provider Stripe have entered into a strategic partnership for marketplace and online retailer payments.
The Paypers
JANUARY 24, 2022
UAE-based financial infrastructure company M2P Solutions has announced a USD 56 million Series C1 funding round to further build its technology while expanding internationally.
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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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