Accenture

NOVEMBER 16, 2021

Key themes Receivables showed positive YoY growth for the first time in five quarters. Purchase Volume growth continues to be quite strong, with all issuers reporting 15%+ YoY growth; AmEx and Chase, in particular, reported over 30% YoY growth. Net Charge-Offs continue to remain at historically low levels primarily due to high payment rates; all…. The post Q3 2021 US credit card issuer snapshot appeared first on Accenture Banking Blog.

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SWBC's LenderHub

NOVEMBER 16, 2021

“After all, we are not communists” – Don Emilio Barzini, The Godfather Part One. As we enter the most confusing investing chapter in The Great Pandemic, I’ve been thinking a lot about what are some good, or maybe even great, investments to take advantage of the current dislocations as well as the ones to come. I have been thinking of this since a strange thing happened to copper on the London Metals Exchange (LME) back in the month of October.

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BankUnderground

NOVEMBER 16, 2021

John Lewis. Increased working from home (WFH) for public health reasons during the pandemic has spawned a debate about whether this shift might become permanent. In this post, I try to sketch out some of the (macro) economics of a longer-run post-pandemic shift towards more WFH. I argue that: i) on consumption, it won’t affect aggregate expenditure, it will just reallocate it across space and sectors ii) in property markets, effects hinge on supply responses; iii) for output, cost-savings to fir

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ATM Marketplace

NOVEMBER 16, 2021

Often, stores shove ATMs and Bitcoin ATMs in inconvenient spaces. Here are two questions to ask to ensure your ATM is in the right spot.

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ATM Bitcoin 119

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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

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TheGuardian

NOVEMBER 16, 2021

Investment bank says it lost millions because of tweets by Elon Musk that he might take electric carmaker private JPMorgan has sued Tesla for $162.2m, accusing Elon Musk’s electric car company of “flagrantly” breaching a 2014 contract relating to stock trading options that Tesla sold to the bank. The options, or warrants, give the holder the right to buy a company’s stock at a set “strike” price and date.

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TheGuardian

NOVEMBER 16, 2021

Jamie Dimon let off 21-day hotel quarantine because he runs a ‘very huge bank’, says Carrie Lam JP Morgan’s billionaire chief executive Jamie Dimon was allowed to skip Hong Kong’s strict 21-day hotel quarantine rules because he runs “a very huge bank” with “key business in Hong Kong”, the territory’s chief executive, Carrie Lam, said on Tuesday. Dimon flew into Hong Kong on Monday on JP Morgan’s private jet, becoming the first Wall Street bank boss to visit the territory or mainland China since

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BankInovation

NOVEMBER 16, 2021

Large financial institutions have moved beyond using Amazon Web Services (AWS) for infrastructure, expanding into machine learning (ML), text extraction and other technologies offered by the tech giant. More than 2,700 new services or major features were announced in 2020, John Kain, AWS’ head of worldwide business & market development efforts for banking and capital […].

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CFPB Monitor

NOVEMBER 16, 2021

Expansion of CRA coverage. On November 1, New York Governor Hochul signed into law amendments (S.5246-A/A.6247-A) to the New York Community Reinvestment Act (NYCRA) that expand the NYCRA’s coverage to non-depository mortgage lenders. The amendments are effective November 1, 2022. New York now joins a small group of states, including Illinois and Massachusetts, that apply CRA-type laws to non-depository mortgage lenders.

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BankInovation

NOVEMBER 16, 2021

Beyond its familiar exchanges and indexes, Nasdaq also has a growing technology solutions business that targets fraud and money laundering across the financial sector. The online global marketplace uses its anti-fraud technology to serve a range of entities, from regulators and market infrastructure providers to banks and credit unions. "A lot of the technologies that […].

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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

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CFPB Monitor

NOVEMBER 16, 2021

On November 8, 2021, New York Governor Hochul signed into law the “ Consumer Credit Fairness Act ” (S.153). The Act contains a series of amendments to the New York Civil Practice Law and Rules that significantly impact debt collection lawsuits filed in New York state courts by creditors or debt collectors. The key amendments include: A 3-year statute of limitations for most collection lawsuits arising out of a consumer credit transaction.

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BankBazaar

NOVEMBER 16, 2021

Worried about overspending this festive season? Don’t fret. Here’s how you can manage your finances without burning a hole in your pocket. Spending a fortune, particularly during the festive season, is a woe we aren’t unbeknownst to. It is easy to get wrapped up in the festivities, letting your purse strings loose. This season, don’t cave in – ensure your budgeting plans don’t go astray.

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William Mills

NOVEMBER 16, 2021

One of the most popular questions we get from clients is, “How do we get on the first page of Google?” There’s a good reason why this question permeates even the savviest marketer’s mind: statistics show that less than 10% of people move past page one. Whether your business is B2C or B2B, landing a top spot is viewed as essential to any fintech marketer’s goals.

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CB Insights

NOVEMBER 16, 2021

CompStak , a proptech firm that crowdsources commercial real estate data, has raised $50M in a Series C round. The round drew participation from Morgan Stanley Expansion Capital, Canaan Partners, Crow Holdings, Mitsui Fudosan, and IA Capital Group. HOW’S THE COMPANY PERFORMING? New York-based CompStak is a proptech firm that provides CRE data to brokerages, hedge funds, appraisers, asset managers, sovereign wealth funds, and economists.

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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.

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The Paypers

NOVEMBER 16, 2021

A new Juniper Research study has discovered that the value of global payment transactions facilitated by Open Banking will exceed USD 116 billion in 2026, from just under USD 4 billion in 2021.

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PopularBank

NOVEMBER 16, 2021

The rise in mobile banking, particularly due to the coronavirus pandemic, has given hackers plenty of opportunity to hone their skills. According to Forbes, since the beginning of 2020, the FBI reported a 50% rise in this form of banking, which is very convenient for consumers. 1. But the challenge is to know which mobile sites are trustworthy and which ones might be masquerading as the real thing.

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The Paypers

NOVEMBER 16, 2021

Fidel has announced the launch of its Transaction Stream API, which enables developers to connect to real-time payment card data and build corporate expense management platforms and consumer financial management applications.

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FICO

NOVEMBER 16, 2021

Our monthly UK Credit Market Report analyzing UK credit card trends for September 2021 shows the contrasting conditions that have been seen throughout 2021 continue. The month saw average spend fall, growth in payment levels and falling missed payment rates, all suggesting a current state of strong financial prudence. For lenders, however, focus needs to remain on reacting quickly to consumer changes in spend and payment behaviour which might indicate whether they can service their debt.

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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.

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MerhantsBanks

NOVEMBER 16, 2021

Jordan Frederick has been promoted to Assistant Vice President/Commercial & Ag Banker at Merchants Bank, according to Steve Christopherson, Senior Vice President & Commercial Banking Manager. “Jordan puts our customers’ needs first and his hard work deserved to be recognized,” said Christopherson. “He continues to take advantage of every opportunity to learn about our business […].

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FICO

NOVEMBER 16, 2021

We are proud to continue to lead the market in intelligent decisioning innovations that started with Bill Fair and Earl Isaac back in 1956. We’re certain they would be thrilled with our pioneering, value-packed release of FICO ® Originations Solution, Powered by FICO ® Platform in the AWS Cloud. This release is a tremendous milestone in both features and quality, including a thorough early adopter process on two continents.

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CB Insights

NOVEMBER 16, 2021

Density , a provider of occupancy tracking software for offices, has raised $125M in a Series D round. The round drew participation from Founders Fund, Upfront Ventures, Altimeter Capital, Kleiner Perkins Caufield & Byers, and 01 Advisors, among others. HOW’S THE COMPANY PERFORMING? California-based Density enables companies to manage, plan, and optimize office space.

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Tomorrow's Transactions

NOVEMBER 16, 2021

The biggest news in payments security in the last month concerns allegations that point of sale terminals supplied by PAX Technology have been subverted to have the capability of launching cyberattacks. Details of the allegations can be found at Krebs and Bloomberg; in response, PAX Technology has published a rebuttal. The main allegation seems to… Continue reading Point of Sale cyberattacks – is certification enough?

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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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Qudos Bank

NOVEMBER 16, 2021

Whether it’s a dinged car, an unexpected bill or a sudden redundancy, the unforeseen is always easier to cope with if you’ve planned for it. This is where an emergency fund can help. Set this financial safety net up well (along with proper insurance) and it’s likely you’ll be much better equipped to cope with any unexpected costs that arise, and less likely to have to borrow money.

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The Paypers

NOVEMBER 16, 2021

New research from Spain-based travel solutions company Amadeus has revealed that travellers begin to abandon booking when FX fees reach 5% of the cost of a flight.

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American Banker

NOVEMBER 16, 2021

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The Paypers

NOVEMBER 16, 2021

A study by UK-based WorldPay in five countries has revealed that people find contactless payments easier and that 82% of respondents in Brazil are interested in new tech for future purchases.

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Payments Study 42

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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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