Fri.Feb 11, 2022

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FASB: No Delay for CECL Implementation Date

Abrigo

Firm deadline for CECL implementation set As expected, the FASB agreed to uphold CECL’s 2023 implementation date. You might also like " CECL Streamlined: A Webinar Series for 2023 Adopters". Register. Takeaway 1 The FASB agreed to uphold the 2023 implementation date for those that haven’t yet adopted the CECL standard. Takeaway 2 Some financial institutions had hoped for a delay, but a majority of members voted for a consistent accounting standard on schedule.

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DOOH: A major opportunity for self-service still waiting to happen

ATM Marketplace

Owners and operators of self-serve kiosks, ATMs and vending machines are sitting on one of the biggest business opportunities that they may not even be aware of: digital-out-of-home advertising

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Ben Ottum Joins Merchants Bank as Mortgage Lender

MerhantsBanks

Ben Ottum has joined Merchants Bank as a Mortgage Lender, according to Larry Accola, President for Merchants Bank in Eau Claire. “Having someone with Ben’s experience and knowledge of the local housing market on our team will be a huge benefit to our customers looking to fulfill their home dreams through buying or building,” said […].

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Banks need impactful new ideas they can execute

BankInovation

Digital transformation, digital innovation, future proof — the list of buzzwords for the digitization of banking keeps growing. But banks are heavily regulated and typically saddled by legacy technology and processes. As a result, they simply can’t innovate like startups can and shouldn’t try. When people hear the word innovation they imagine a world-changing invention. […].

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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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Examining the current state of payments, labor for ATMs in 2022

ATM Marketplace

A lot has changed in the past 50 years since the ATMs first came to market, especially in the last two years with the pandemic.

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UK online shoppers face more identity checks as new anti-fraud rules kick in

TheGuardian

Under changes coming in on 14 March, retailers will have to verify customer is who they claim to be Online shoppers in the UK can expect more identity checks – and probably more card-declined messages – over the coming weeks, as retailers get ready for new anti-fraud rules that come into force on 14 March. Buyers have already started seeing more requests to verify their ID as payments providers and retailers adopt the new strong customer authentication (SCA) rules.

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Guide to Building an Investment Portfolio for VT & NH Investors

Ublocal

When it comes to investing in the stock market, it can be intimidating to navigate all the options and terminology. In this article, we’ll take a closer look at investment portfolios, which are simply a collection of assets such as stocks, bonds, mutual funds, index funds and exchange-traded funds (ETFs). We’ll cover the basics and define the most common terms and investment practices.

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Women in AI: Diversity Can Lead to Better Models

FICO

. The United Nations International Day of Women and Girls in Science today throws a spotlight on achieving full and equal access and participation for women and girls in science, citing the importance of this goal in global development. One critical area is artificial intelligence (AI) and how it affects financial decisioning. To make fair and accurate assessments, AI software needs to be reflective of the people it scrutinises and the best way to achieve this is to have a diverse team at work

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People analytics HR tech company Enboarder raises $32M. Enboarder competitors include Hibob, WorkRamp, Employment Hero, and Personio.

CB Insights

Enboarder , an HR tech company, has raised $32M in a Series B. The round drew participation from NewSpring Capital, Greycroft, Next Coast Ventures, and Golub Capital, among others. HOW’S THE COMPANY PERFORMING? Australia-based Enboarder offers a people activation platform that enables HR teams to onboard new hires virtually, oversee change management, and support learning and development.

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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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EC to release instant payments legislation in second half of 2022

The Paypers

The European Commission has announced its intention to legislate on instant payments to accelerate their adoption across the EU, according to AltFi.

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New Features Greet Riders As They Return to Transit

Tomorrow's Transactions

Everyone seems to think that MaaS (Mobility-as-a-Service) is a brand-new business model, when in fact, Transit Agencies have been providing mobility as a service for years, just without the hyphens. When I ride transit I just pay for the service when I need it or purchase a monthly pass if I expect to use it… Continue reading New Features Greet Riders As They Return to Transit.

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Axis Bank introduces digital KYC fixed deposit

The Paypers

India-based Axis Bank , a private sector bank, has introduced the Digital Fixed Deposit, a digital full KYC fixed deposit product.

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She loves me not: How banks can fight romance scams

American Banker

Fraud 81
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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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EU could test the digital EUR in 2023

The Paypers

The European Commission has announced it is planning to propose a bill for a digital euro early in 2023.

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Banking news roundup

American Banker

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TrustBuilder partners with Signicat

The Paypers

Norway-based digital identity company Signicat has teamed up with TrustBuilder to offer its European eID capabilities through the latter’s cloud-based service catalogue.

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South Korea’s banks move from the pandemic to the metaverse

The Banker

South Korea’s banks have managed to hold steady through Covid-19 and are now looking to the future of digital banking. Kimberley Long reports.

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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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UAE publishes Federal Data Protection Law

The Paypers

The United Arab Emirates (UAE) has published its first Federal Data Protection Law No. 45 of 2021, which came into effect on 2 January 2022.

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Can payment automation help heal the supply chain?

American Banker

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KyckGlobal and PayFlo to offer digital disbursements in the US and Canada

The Paypers

US-based KyckGlobal has partnered with Canada-based payment processor PayFlo to expand digital disbursements for customers in the US and Canada, and to provision checks for KyckGlobal.

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Los Angeles Rams' official credit union buys its first Super Bowl ad

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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Hannover Digital Investments invests in digital payment specialist Vitesse PSP

The Paypers

Germany-based Hannover Digital Investments (HDInv) has announced taking a stake in the UK-based digital solution provider Vitesse PSP.

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The Corporate Transparency Act is a gift to would-be money launderers

American Banker

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AI more reliable than people at identifying biometric spoofs

The Paypers

According to a research report conducted by IDR&D , computers are more prone than people to determine the legitimacy of a person’s photo accurately and quickly versus a presentation attack.

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Hanscom Federal Credit Union in Massachusetts names new CEO

American Banker

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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.