Wed.Jan 19, 2022

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Effective Loan Pricing in Today’s Rate Environment

Abrigo

How to Price Loans Effectively Effective loan pricing is more imperative than ever for financial institutions, given the outlook on interest rates and other factors. . You might also like this webinar, "Is Inflation the Big Gift to Your Future Earnings?" WATCH . Takeaway 1 Bankers might have hoped the close of 2021 would bring an end to the challenging rate environment and low yields. .

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Bank of America sees 79% YoY growth, credits digital channels

BankInovation

Bank of America largely credits digital banking, sales and services for its $31.9 billion in net income for 2021, a 79% year-over-year increase. "The best way to highlight the drivers behind the earnings success is to look at the momentum and client activity across the businesses," Chief Executive Officer Brian Moynihan said during Wednesday's fourth-quarter […].

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Citi Sells Consumer Banks in Indonesia, Malaysia, Thailand and Vietnam

Banking Exchange

UOB will acquire Citi’s consumer banking franchises in the four countries Retail Banking Financial Trends Feature Lines of Business Customers Feature3 Human Resources Management M&A.

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Truist migrated 9 million clients to digital platform in 2021

BankInovation

Truist is headed for its final core conversion in February when heritage SunTrust clients will be migrated to the Truist platform. The $541 billion Truist highlighted its recently launched ecosystem and technology automation advancements Tuesday during its fourth-quarter earnings call. Among the capabilities Truist will introduce this year are a new artificial intelligence (AI)-driven insights […].

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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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Santander Consumer USA invests $35 million into bridging digital divide across the US

Banking Exchange

Partnering with Comp-U-Dopt, a technology and community nonprofit Technology Duties Feature Feature3 Inclusion Digital Customers Branch Technology/ATMs Tech Management Mobile Online Community Banking.

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5 Tips To Become The Ultimate Productivity Ninja

BankBazaar

All those who work remotely must figure out how to set boundaries between business and personal life. Here’s a simple guide to mastering the new normal and boosting productivity based on personal experience. The pandemic drove humanity to shift its way of life. Obviously, no one ever wishes for a pandemic, yet it has occurred and continues to occur.

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SoFi rises after regulator approves U.S. bank charter

BankInovation

SoFi Technologies Inc., the financial firm led by former Twitter Inc. executive Anthony Noto, surged after the Office of the Comptroller of the Currency granted it a U.S. banking charter. The online lending platform acquired Golden Pacific Bank as a path to getting the full-fledged banking license, the regulator said in a statement on Tuesday. […].

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D.C. federal court dismisses NALCAB lawsuit challenging CFPB’s rescission of payday loan rule underwriting provisions

CFPB Monitor

The D.C. federal district court has granted the motions filed by the CFPB and the Consumer Financial Services Association (CFSA) to dismiss the lawsuit brought by the National Association for Latino Community Asset Builders (NALCAB). (The CFSA had intervened in the lawsuit.) In the lawsuit, the NALCAB sought to overturn the CFPB’s July 2020 final rule (2020 Rule) rescinding the “ability-to-repay” (ATR) or “mandatory underwriting provisions” in its 2017 final payday/auto title/high-rate install

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Eastern Bank enters into asset purchase agreement with Needham Bank

Banking Exchange

Transaction expected to complete in the first half of 2022 Management Feature M&A Lines of Business Feature3 Cannabis banking.

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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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CSBS withdraws lawsuit seeking to block OCC approval of Figure Technologies charter application

CFPB Monitor

The Conference of State Bank Supervisors (CSBS) has withdrawn its lawsuit filed in D.C. federal district court in December 2020 seeking to block the OCC from granting a national bank charter to Figure Technologies Inc. The lawsuit represented the CSBS’s third challenge to the OCC’s authority to issue special purpose national bank (SPNB) charters to non-depository fintech companies or to uninsured deposit-taking fintechs.

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Ernst and Young Names Vice Chair of Americas Strategy and HSBC Appoints Two New Board Members

Banking Exchange

Also, Exchange Bank announces new vice president Management Feature Feature3 Human Resources Lines of Business Performance.

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Shopify partners with JD.com

The Paypers

Canada-based ecommerce company Shopify has signed a deal with China-based retailer JD.com to make it easier for US merchants to sell to consumers in China.

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Can pot banking bill pass with a lame-duck champion?

American Banker

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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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Banks expect Request to Pay to challenge direct debits and payment cards

The Paypers

UK-based Icon Solutions has released a new survey of global banks, ‘ Demistifying Request to Pay: An Industry Perspective ’, which shows that Request to Pay may challenge established payment methods.

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Bank of America strikes upbeat tone on lending, profitability

American Banker

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aifinyo enters the payment market with BaFin's ZAG license

The Paypers

Germany-based Smart Billing Provider aifinyo’s subsidiary aifinyo payments has received a license for financial transfer transactions (ZAG) from the Federal Financial Supervisory Authority (BaFin).

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U.S. Bancorp says Union Bank deal on track for first-half close

American Banker

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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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Southwest Airlines launches interest-free BNPL solution in partnership with Uplift

The Paypers

The BNPL solution serving travelling brands Uplift has announced it partnered with Southwest Airlines for interest-free travels to the Hawaiian Islands.

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Has payment tech M&A gotten too pricey?

American Banker

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Microsoft will acquire Activision Blizzard to boost gaming community

The Paypers

US-based tech giant Microsoft has announced its intention to acquire Activision Blizzard , game development and interactive entertainment company.

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Comerica takes steps to tackle climate risk

American Banker

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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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Tink and Cogo help banking clients improve their carbon footprint

The Paypers

Sweden-based Open Banking platform Tink and sustainability fintech Cogo have formed a strategic partnership to provide banking customers with personalised carbon footprint tracking services.

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Citizens says cost savings will partly offset lost overdraft revenue

American Banker

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Wholesale company Metro launches Business Card powered by Mastercard

The Paypers

Germany-based wholesale company Metro has launched the embedded finance product Metro FS card for the hospitality industry with cooperation partner Mastercard.

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SoFi Gets Approval to Become a Bank – Should Legacy Banks Care?

The Financial Brand

A charter is a plus for the fintech, but the impact for traditional institutions may depend on the status of their digital transformation. The post SoFi Gets Approval to Become a Bank – Should Legacy Banks Care? appeared first on The Financial Brand - Banking Trends, Analysis & Insights.

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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.