SWBC's LenderHub
AUGUST 16, 2021
Last Week. Treasury auctioned off three-year, 10-year, and 30-year notes for a grand total of $126 billion in new issuance. The highlight was the stupendous showing of the 10-year note on Wednesday. The new note stopped through pre-auction yield three basis points, while all the measures of auction performance were very solid. It is interesting to note, earlier in the day, July CPI posted a 5.4% year-over-year increase.
Banking Exchange
AUGUST 16, 2021
Research from Fitch finds even well-prepared banks could suffer from ‘tail events’ from major cyberattacks Risk Management Feature3 Feature Cyberfraud/ID Theft.
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FICO
AUGUST 16, 2021
The FICO® Score is the lingua franca, or common language, for the credit scoring industry. It serves as a broad-based, independent standard measure of credit risk. It is relied upon by stakeholders across the entire lending ecosystem – from regulators, investors and boards to consumers, lenders, and brokers – as a baseline metric for assessing credit risk that is fair to both lenders and consumers. .
CFPB Monitor
AUGUST 16, 2021
According to numerous media reports, Linda Lacewell, Superintendent of New York’s Department of Financial Services, has announced her resignation. Her last day as Superintendent is expected to be August 24, the same day that Governor Andrew Cuomo’s resignation becomes effective. Her interim successor has not yet been named. Ms. Lacewell was nominated in 2019 by Governor Cuomo, having previously served as his Chief of Staff.
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.
Banking Exchange
AUGUST 16, 2021
Survey by Harris Poll and Google Cloud reveals global take-up of cloud computing technology Technology Financial Trends Feature3 Feature Financial Research Outsourcing/Cloud.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
TheGuardian
AUGUST 16, 2021
Existing customers to receive larger reward than new ones, in move that follows HSBC and Virgin Money Nationwide has entered the battle to persuade savers to change their current account provider, offering a cash incentive that rewards those customers who already use one of its services over new ones. Following in the steps of HSBC and Virgin Money, Britain’s biggest building society will pay £125 to existing customers, such as mortgage borrowers, if they also switch their current account to Nat
Banking Exchange
AUGUST 16, 2021
US Bank has agreed to buy Bento Technologies for an undisclosed sum Technology Feature3 Fintech Feature Tech Management Community Banking.
BankDeals
AUGUST 16, 2021
According to a new DepositAccounts survey of more than 1,000 U.S. consumers, 52% of Americans would be happy never to return to a physical branch again.
CB Insights
AUGUST 16, 2021
Upgrade , an online lending platform, has raised $105M in a Series E. The round drew participation from Black River Ventures, Ventura Capital, and Koch Disruptive Technologies. HOW’S THE COMPANY PERFORMING? California-based Upgrade focuses on providing consumers with affordable and ethical credit. Since its inception in 2017, Upgrade has provided mainstream customers with over $7B in credit through cards and loans.
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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
FICO
AUGUST 16, 2021
FICO Applauds FHFA Inclusion of Rental Data in Underwriting. Joanne Gaskin. Mon, 08/16/2021 - 18:53. Last week, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae will begin considering borrowers’ rental payment history in its risk assessment process. This is a significant step forward in the use of alternative data in underwriting, and the FHFA and Fannie Mae are to be commended.
CB Insights
AUGUST 16, 2021
Taxbit, a cryptocurrency tax software provider, has raised $130M in an extended Series B that drew participation from Insight Partners and Institutional Venture Partners. HOW’S THE COMPANY PERFORMING? Utah-based TaxBit is a developer of cryptocurrency tax software. The Tax Center Suite, for example, was designed for end-users and automates back-office accounting operations for finance teams.
FICO
AUGUST 16, 2021
Our latest FICO UK Credit Market Report looking at UK card trends for June 2021 shows that average card spend continued to increase compared to 2020. As the UK was only just coming out of lockdown in June 2020, this rise in spend is unsurprising, but the fact that average spending was 3.5% (£23) above 2019 levels suggests that, for those who have been able to save through the pandemic, there is confidence in their future financial stability.
CB Insights
AUGUST 16, 2021
US Bancorp , a provider of banking services, has acquired Bento for Business , a financial management platform for SMEs, for an undisclosed amount. The deal is expected to close in September, deliver 60% IRR, and generate strong cash returns. Who are the parties to the deal? Bento for Business: California-based Bento for Business is a digital spend management platform for SMEs that helps businesses keep track of expenses through a pre-loaded card.
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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
BankDeals
AUGUST 16, 2021
First Community Credit Union Kasasa Cash Checking and Kasasa Cash Back accounts currently offer competitive rates. Available in the eastern half of North Dakota.
ABA Community Banking
AUGUST 16, 2021
A game plan for entering new geographic markets—without doing M&A. The post Cultivating Organic Growth appeared first on ABA Banking Journal.
The Paypers
AUGUST 16, 2021
US-based technical body EMVCo has published EMV 3-D Secure UI/UX Design Guidelines to help card issuers, banks, merchants and solution providers optimise the EMV 3DS payment authentication experience for ecommerce consumers.
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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.
BankDeals
AUGUST 16, 2021
Heartland Credit (easy membership) 30-month Add-On CD accepts unlimited additional deposits throughout the term, tiered APYs on balances of $500+, $25k+, and $100k+.
The Paypers
AUGUST 16, 2021
The central bank of Korea has announced it is piloting a digital currency with Samsung , the South Korean multinational firm.
The Banker
AUGUST 16, 2021
With investors increasingly struggling to generate substantial returns in the public markets and a growing constituency with private fundraising needs, all the ingredients are in place for continued private capital market growth.
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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.
Bankelele
AUGUST 16, 2021
Ajmal Ahmady, the Acting Governor of the Central Bank of Afghanistan, Da Afghanistan Bank (DAB) posted a series of tweets about events in the country and at the Kabul airport. Extracts: 1/The collapse of the Government in Afghanistan this past week was so swift and complete – it was disorienting and difficult to comprehend. 2/Although […].
The Paypers
AUGUST 16, 2021
Finastra has secured the SWIFT Compatible Application label 2021 for Trade Finance.
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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.
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