Accenture
JULY 21, 2021
Historically speaking, taxes have been taxing. This is more than a silly joke—though I will grant that it’s also that. Since the inception of taxes, the payment and collection of them has been filled to the brim with delays, hassles, and needless complications. But new developments in the payments ecosystem—Open Banking, ISO20022—are about to change all that.
Abrigo
JULY 21, 2021
Key Priority: Foreign and Domestic Terrorist Financing Among FinCEN's first list of key priorities for AML/CFT policy is detecting, reporting, and preventing foreign and domestic terrorism. Would you like others articles like this in your inbox? Takeaway 1 Human trafficking and human smuggling often intersect with the financial industry. Takeaway 2 After drug trafficking, human trafficking is the second-largest criminal industry in the world.
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Gonzobanker
JULY 21, 2021
How much are you willing to pay to be chummy with your solution provider? In a recent survey of banks and credit unions about their technology vendor contracts, Cornerstone Advisors found that more than half of these financial institutions allow emotional factors to influence their negotiation processes. And it’s costing them money. We’ve negotiated enough contracts to understand why this happens.
BankInovation
JULY 21, 2021
A June survey by IT research firm Emergence found only 12% of large enterprises out of 177 surveyed have deployed automation at a companywide scale, raising the question of what it will take to increase the scale of automation use. Bank Automation News posed the question to Emergence founding partner and RPA expert Sarah Burnett. […].
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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
JULY 21, 2021
Announcement follows upsurge of fintech partnerships and industry demand for better alignment on guidance Compliance Risk Management Feature3 Feature Duties Compliance Management.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
CFPB Monitor
JULY 21, 2021
Last week, the OCC, Federal Reserve Board, and FDIC issued proposed guidance for banking organizations on managing risks associated with third-party relationships, including those with financial technology-focused entities such as bank/fintech sponsorship arrangements. The agencies have made clear that if banks have ineffective risk management processes, agency examiners will closely scrutinize their third-party risk management and identify and report deficiencies in examination reports and rec
Banking Exchange
JULY 21, 2021
Fifth Third Bank has become the latest to join the project, it announced this week Community Banking Feature3 Feature People Diversity Inclusion.
CFPB Monitor
JULY 21, 2021
A Florida federal district court has dismissed a lawsuit filed by a borrower alleging FCRA violations by Clarity Services, Inc. (Clarity), the consumer reporting agency that provided the borrower’s consumer report to her lender. In dismissing the plaintiff’s FCRA claims, the district court rejected the plaintiff’s argument that the FCRA requires a consumer reporting agency, before providing a consumer report, to verify the legitimacy of the business of the report’s end user.
ABA Community Banking
JULY 21, 2021
From its origins as one of the original “mobile banks” in the 1990s—designed to serve truckers across the country through a network of truck stops—TAB Bank has evolved into an innovative digital bank serving businesses across sectors and around the country. The post Podcast: Digital Innovation Lessons from an O.G. ‘Mobile Bank’ 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
JULY 21, 2021
Today marks the tenth anniversary of our blog, Consumer Finance Monitor. Originally named CFPB Monitor, we launched our blog to coincide with the CFPB’s first day. Over the past ten years, our blog has received numerous awards and been recognized as a source of authoritative analysis and commentary. Since launching our blog, it has been our hope that our readers not only find it to be a place where they can go to get up-to-the-minute reporting on important developments relevant to the consumer
CB Insights
JULY 21, 2021
Insightsoftware , an enterprise financial solutions provider, has raised $800M from HgCapital. How’s the company performing? Insightsoftware is a software company that specializes in financial reporting and corporate performance management. It has a portfolio of software solutions in the areas of reporting, budgeting and planning, closing and consolidation, tax, disclosure, and equity management.
The Paypers
JULY 21, 2021
NMI and J.P. Morgan have announced they will utilise NMI ’s portfolio of retail, mPOS, unattended and tap to mobile technologies to serve J.P. Morgan customers in a selection of European countries.
CB Insights
JULY 21, 2021
More money is flowing into blockchain tech than ever before, with investors pouring a record-breaking $7B+ into the space in H1’21 — soaring past the previous full-year record from 2018. download our best of blockchain research. Get exclusive access to our top blockchain reports, including top companies, industries it will disrupt, plus an explanation of ethereum.
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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.
ABA Community Banking
JULY 21, 2021
In a statement for the record shared ahead of a House Financial Services subcommittee hearing on expanding access to the financial system today, the American Bankers Association emphasized the banking industry’s commitment to reducing the number of unbanked individuals in the country. The post ABA Statement Highlights Banks’ Commitment to Reducing Number of Unbanked Americans appeared first on ABA Banking Journal.
The Paypers
JULY 21, 2021
Australia-based software development company Timestar has partnered with Heritage Bank to pioneer a significant upgrade of its Prosper CRM software.
The Banker
JULY 21, 2021
As digitalisation forces branch closures and online services become more personalised, banks could still retain in-person services through hybrid models, according to Temenos report.
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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
JULY 21, 2021
Singapore-based insurtech Zensung has partnered with insurance firms ERGO and Munich Re to launch ‘Parrot Safe Driver', a ‘GO GREEN’ insurance policy.
The Banker
JULY 21, 2021
As digitalisation forces branch closures and online services become more personalised, banks could still retain in-person services through hybrid models, according to report.
The Financial Brand
JULY 21, 2021
The latest update of The Financial Brand's Neobank Tracker includes 50+ new digital-only banks from around the globe. The post 52 New Digital Banks Added to The Financial Brand’s Neobank Tracker appeared first on The Financial Brand - Banking Trends, Analysis & Insights.
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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
JULY 21, 2021
India-based investment venture GlobalBees has announced that it has raised USD 150 million in a mix of equity and debt in a Series A round.
The Paypers
JULY 21, 2021
Open Banking infrastructure provider Yapily has announced the first closing of its USD 51 million Series B funding round, taking its total investment to date to USD 69 million.
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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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