Abrigo
JUNE 3, 2021
Cryptocurrency continues gaining traction. As the cryptocurrency industry continues to expand, financial institutions must remain vigilant to thwart cybercriminals. Want more BSA training and articles emailed to you? Takeaway 1 The cryptocurrency industry has expanded quickly. Cybercriminals have caught on. Takeaway 2 While crypto crime fell in 2020, there are many risks financial institutions must be aware of.
Jack Henry
JUNE 3, 2021
After 15 years in the conversion business , I still get asked the same question. “What can we do to ensure a successful and accurate data conversion?” It can be challenging because most banks and credit unions will never go through an acquisition of another site or a change of their vendor. And those who do may only do it a few times, with a different contact handling the effort each time.
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TheGuardian
JUNE 3, 2021
Up to 50 companies dealing in digital assets such as bitcoin could be forced to stop trading immediately Up to 50 companies dealing in cryptocurrencies such as bitcoin may be forced to close after failing to meet the UK’s anti-money laundering rules. The Financial Conduct Authority, the City regulator, announced on Thursday that an “unprecedented number” of companies had withdrawn applications from a temporary permit scheme that allowed firms to continue trading until the regulator could green-l
BankInovation
JUNE 3, 2021
Approximately 7.1 million U.S. households are unbanked, according to the most recent data from the FDIC, and 1.7 billion adults lack a bank account of any kind, according to global estimates from 2017. While some major U.S. banks have plans to serve the unbanked, including the $2.9 trillion JPMorgan Chase, $1.96 trillion Wells Fargo and […].
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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
CFPB Monitor
JUNE 3, 2021
According to an American Banker report, two senior CFPB officials, Bryan Schneider and Peggy Twohig, will be leaving the Bureau in the coming weeks. Mr. Schneider has been serving as Associate Director of Supervision, Enforcement and Fair Lending. He was named to the position by former Director Kraninger. Ms. Twohig has been serving as Assistant Director of Supervision Policy and Strategy.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
CFPB Monitor
JUNE 3, 2021
On behalf of our client RevSpring, Inc., Ballard Spahr has filed an amicus brief in support of the petition for rehearing en banc filed in the Eleventh Circuit by the defendant in Hunstein v. Preferred Collection and Management Services. In that case, a unanimous Eleventh Circuit panel reversed the lower court’s dismissal of the plaintiff’s FDCPA claim, instead ruling that the plaintiff stated a claim by alleging that a debt collector’s transmittal of the plaintiff’s personal information to the
BankInovation
JUNE 3, 2021
China is allowing Jack Ma’s Ant Group Co. to start operations at its consumer finance company, the first sign of progress after a regulatory crackdown torpedoed the fintech giant’s record listing. The unit, registered in Chongqing, will be allowed to lend to individuals, issue bonds and borrow from domestic financial institutions, according to a notice […].
CFPB Monitor
JUNE 3, 2021
The Ninth Circuit has granted Seila Law’s motion for a stay of the mandate pending its filing of a petition for a writ of certiorari in the U.S. Supreme Court. After the Supreme Court ruled that the CFPB’s structure was unconstitutional and remanded the case for further consideration, a unanimous Ninth Circuit panel ruled that the civil investigative demand (CID) issued to Seila Law was validly ratified by former Director Kraninger and affirmed the district court’s decision granting the CFPB’s p
BankInovation
JUNE 3, 2021
As banks, fintechs and financial institutions grapple with how to implement artificial intelligence (AI), the U.S. Federal Deposit Insurance Corporation (FDIC) is exploring how to shepherd such integrations while also assimilating changes in the agency’s internal tech stack. Starting June 14, Sultan Meghji, the FDIC’s inaugural chief innovation officer, and the supervisory body’s tech lab, […].
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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
JUNE 3, 2021
The CFPB announced last week that it has entered into a proposed settlement with Driver Loan, LLC (“Driver Loan”) and its Chief Executive Officer to settle the November 2020 lawsuit it filed against Driver Loan and its CEO alleging the defendants engaged in deceptive acts and practices in violation of the Dodd-Frank Act’s UDAAP prohibition in connection with taking deposits from and making loans to consumers.
BankUnderground
JUNE 3, 2021
Dario Bonciani and Joonseok Oh. In the wake of the global financial crisis in 2008, nominal interest rates in the US and other advanced economies have approached the effective lower bound (ELB). This fact has motivated new research to understand, both theoretically and empirically, the impact of monetary policies when the nominal policy rate is at the ELB.
CB Insights
JUNE 3, 2021
Kushki , a payment platform, has raised $86M in a Series B with participation from SoftBank Group, Kaszek Ventures, and Magma Partners, among others. How’s the company performing? Ecuador-based Kushki’s API platform enables local and cross-border payment across Latin America for credit and debit cards, digital cash, mobile wallets, bank transfers, and alternative payment processes.
CFPB Monitor
JUNE 3, 2021
After reviewing how blockchain technology operates and the pandemic’s impact on its use, we discuss the technology’s main benefits and regulatory risks; its use in digital identity, anti-money laundering compliance, preventing wire transfer fraud, peer-to-peer lending, and decentralized finance; the role of “smart contracts” in consumer finance; how various companies are using the technology; and the technology’s link to cryptocurrency protocols.
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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.
ATM Marketplace
JUNE 3, 2021
Does the maintenance of your business’ fleet and infrastructure lead to a poor customer experience, stressed-out staff, and all-around chaos? We are here to help you! It’s time to explore the benefits of partnering with an experienced service and integration provider.
TrustBank
JUNE 3, 2021
If you are looking to buy a house, you have likely observed that the real estate market is very competitive, with increased bidding activity leading to higher prices. One reason that the real estate market is so hot is that there is very low housing inventory available. This blog post will explore exactly how much lower the housing market inventory currently is in the US when compared to recent years.
CB Insights
JUNE 3, 2021
Malt , a freelancer marketplace, has raised $98M in a Series B with participation from Eurazeo, Serena Capital, ISAI, and Goldman Sachs Growth Equity. HOW’S THE COMPANY PERFORMING? France-based Malt is a freelancer marketplace that allows companies to find local contractors. Developers, designers, project managers, data scientists, and others can connect for fixed-term job opportunities in related fields.
The Paypers
JUNE 3, 2021
The US-based crypto platform operator Coinbase and owner of the Coinbase Card has announced enabling users to use Apple Pay and Google Pay for mobile payments.
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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
JUNE 3, 2021
Wipro and Finastra have partnered to help corporate banks across Asia-Pacific accelerate their digital transformation.
The Paypers
JUNE 3, 2021
Revolut has added Clear Books to its roster, allowing customers to track payments and payroll directly from Clear Books when they have linked their Revolut account.
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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
JUNE 3, 2021
Germany-based neobank Kontist has announced enabling Apple Pay as a payment option.
The Paypers
JUNE 3, 2021
Switzerland-based alternative investment fintech platform Stableton Financial has announced completing its seed financing round led by the digital finance investor DEWB.
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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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