Mon.Aug 09, 2021

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Three significant innovations leading banking accessibility

Accenture

In my previous post, I highlighted a few of the incredible innovations we saw during the Efma-Accenture Banking Innovation Awards in 2019. When we talk about awards, we often focus on those who win in their categories—but there are so many others that deserve attention for their contributions to our society. There are leaders to…. The post Three significant innovations leading banking accessibility appeared first on Accenture Banking Blog.

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Effectively managing loan lifecycle risk

Banking Exchange

Among the many trends that have recently developed in the commercial lending world, industry disruption seems to be a common thread Risk Management Retail Banking Technology Feature3 Feature.

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Market Commentary: Week of August 9, 2021

SWBC's LenderHub

Last Week. The volatility in rate markets last week was one for the ages. The week was a tale of two markets. The first was the continuation of the punishing rally that has burned shorts and frustrated yield chasers. At one point on Wednesday, the 10-year dropped ten basis points to 1.12% before reversing course and ending up unchanged for the day.

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Bank of America: Client Interaction Now Mostly Digital

Banking Exchange

Approximately 85% of deposit transactions are made via digital or automated channels including the bank’s app Technology Lines of Business Retail Banking Financial Trends Customers Digital Mobile Tech Management Online Branch Technology/ATMs Feature3 Feature.

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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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Macquarie wades back into UK with majority stake in Southern Water

TheGuardian

Australian investment bank left Thames Water saddled with debt when it sold up in 2017 The Australian investment bank Macquarie has returned to the UK water industry – four and a half years after leaving Thames Water saddled with debt – buying a majority stake in Southern Water for more than £1bn. The infrastructure investor promised to put the utility firm “back on a stable footing” after it was fined a record £90m last month for dumping billions of litres of raw sewage off the north Kent and H

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What is going on at the Co-op Bank’s call centres?

TheGuardian

I’m trying to pay someone £40 using telephone banking but I can’t get through to anyone Can you please ask the people at the Co-operative Bank what is going on at their call centres as it is currently impossible to get through to anyone on the phone? I have been using telephone banking with this bank for years but I have been holding on for up to an hour at a time over the last fortnight, in an attempt to pay someone £40.

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Lender Compliance Technologies brings automation to auto lenders’ regulatory practices

BankInovation

Automation is quickly becoming the new norm in auto finance, prompting auto lenders to partner with fintechs to simplify their regulatory practices. One of the latest fintechs to enter the auto finance scene is Lender Compliance Technologies (LCT), which specializes in compliance solutions for auto and powersports lenders. Founded in early 2020, LCT in April […].

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This Nubank–Backed Indian Neobank Raised $71M To Hire Talent

CB Insights

Jupiter, a neobanking startup, has raised $71M in a Series B. The round drew participation from NuBank, Beenext, Sequoia Capital India, Greyhound Capital, Tanglin Venture Partners, and Global Founders Capital, among others. How’s the company performing? India-based Jupiter has built a neobank for Indian consumers and created a number of products, including a savings account, with features aimed at making money management easier.

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Senators reach bipartisan agreement on cryptocurrency reporting

BankInovation

The bipartisan groups of senators who have been haggling over a cryptocurrency reporting requirement in the $550 billion infrastructure bill have reached a compromise, though it’s not yet clear it will get a vote. The Senate hasn’t been able to agree to amend the legislation and if they don’t do so on Monday the bill […].

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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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OCC Chief Warns Banks Against ‘Complacency’

Banking Exchange

Acting comptroller Michael Hsu is urging bank leaders to be “especially vigilant” in the post-pandemic era Compliance Compliance Management Compliance/Regulatory Feature3 Feature.

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California DFPI announces agreement with program manager of income share agreements

CFPB Monitor

Last week, the California Department of Financial Protection and Innovation (DFPI) announced that it had entered into “a landmark agreement” with Meratas, Inc., a company that acts as a program manager of Income Share Agreements (ISAs) used to finance postsecondary education and training. The agreement includes the DFPI’s finding that ISAs made solely for the purpose of financing a postsecondary education are “student loans” under the SLSA.

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Leveraging the Power of Expanded Data to Increase Financial Inclusion

Banking Exchange

In sharp contrast with 2020, this summer is starting to show promising signs of a return to normalcy Community Banking Feature3 Feature Big Data The Economy Financial Research Financial Trends Retail Banking PPP Covid19.

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CFPB and trade groups file briefs on compliance date for payment provisions in payday loan rule

CFPB Monitor

The CFPB and the two trade groups challenging the CFPB’s 2017 final payday/auto title/high-rate installment loan rule (2017 Rule) have filed briefs with the Texas federal court regarding a compliance date for the 2017 Rule’s payment provisions. The briefs were filed in response to the court’s order that requested additional briefing “concerning what would be the appropriate compliance date if the court were to deny Plaintiffs’ motion for summary judgment and grant Defendants’ motion for summar

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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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Branch Business: Horizon Buys 14 Huntington Sites

Banking Exchange

Plus: First Bank to acquire two OceanFirst branches, Bank of Southern California adds Westlake Village premises Management Feature M&A Feature3 Community Banking.

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Federal court rules constitutional challenge did not allow stay of CFPB order requiring payment of restitution and civil money penalties

CFPB Monitor

Despite the pendency in the Tenth Circuit of a constitutional challenge to a CFPB administrative order that requires a lender and its CEO to pay restitution and civil money penalties, a Kansas federal district court recently refused to stay enforcement of the order. In CFPB v. Integrity Advance, LLC and James R. Carnes , the CFPB had initiated an administrative enforcement proceeding in 2015 against Integrity, a lender making short term loans, and Mr.

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High Inflation and Low Rates - When Bank CDs Make Sense for Savers

BankDeals

An important concern with long-term bank CDs is having your money locked into a low-rate CD when interest rates are increasing rapidly.

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Bank of Korea plans to launch central bank digital currency pilot

The Paypers

The Bank of Korea (BOK) has revealed plans to initiate its central bank digital currency (CBDC) pilot by the end of August 2021.

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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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Time’s Up: Congress Must Stop Credit Union Purchases of Taxpaying Banks

ABA Community Banking

The trend of credit unions buying taxpaying community banks is back—and credit unions are becoming more aggressive than ever in their pursuit of acquisition targets. The post Time’s Up: Congress Must Stop Credit Union Purchases of Taxpaying Banks appeared first on ABA Banking Journal.

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The changing face of payments.

Tomorrow's Transactions

EMV is at the heart of global payment card processing. As a specification it governs the processing of billions of transactions globally, with the vast majority of those flowing through the international payment schemes. As a technology it has been incredibly successful, reducing fraud levels everywhere it’s been introduced and its extension into contactless payments… Continue reading The changing face of payments.

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Gcash teams with Ayannah to boost remittances in the Philippines

The Paypers

Mobile wallet provider GCash has partnered with Philippines based fintech Ayannah to provide accessible financial services.

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Dupaco Community Credit Union Has Competitive 15-Month CD Rates

BankDeals

The 15-month Jumbo Share Certificate Special offered by Iowa-based Dupaco Community Credit Union has been part of the product line for three years, albeit periodically.

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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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ecolytiq, Tomorrow, Visa team up for new proposition to their banking app

The Paypers

Challenger bank Tomorrow in conjunction with Visa and fintech startup ecolytiq have introduced a new proposition within their banking app.

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How buy now/pay later pioneers plan to fend off Apple, Square

American Banker

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India launches new digital payment system

The Paypers

The Indian Government has recently announced the launch e-RUPI, an electronic voucher promoting digital payment solutions.

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Will AML rules be extended to crypto?

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.