Independent Banker
AUGUST 31, 2021
Photo by Paper Boat Creative/Getty. A profitability strategy has a lot to factor in given today’s uncertain market. Here’s what community bankers need to know when planning their budgets for the next year. By Cheryl Winokur Munk. Quick stat. 53%. of digital banking customers said they switched to digital banking because of the pandemic. Source: 2021 Provident Bank survey.
Gonzobanker
AUGUST 31, 2021
News of waiving overdraft fees may sound like a big win for consumers. But it comes with a pile of unintended consequences. Checking fee income is facing extreme downward pressure during 2021, influenced by competitive factors and the specter of greater future regulation. For an America that’s benefited from more than $5 trillion of stimulus money, news of waiving overdraft fees may sound like another big win for the consumer.
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Independent Banker
AUGUST 31, 2021
Photo by Robert Severi. [There is a] need for strong voices to weigh in on how new regulation will affect our communities and the customers we serve. This month’s issue of Independent Banker focuses on regulation and compliance, which continue to be costly and important topics for our industry. A 2020 U.S. Government Accountability Office report concluded that a “very small” community bank could spend up to 2.4% of operating expenses on Bank Secrecy Act (BSA) work alone.
SWBC's LenderHub
AUGUST 31, 2021
Investing in China—once viewed as a no-brainer way to riches by some of our most popular and successful investment managers—has gotten quite treacherous this year. From the cancelation of Jack Ma’s ANT (China’s largest digital payment platform) IPO and its subsequent surrender to the regulatory arm of the People’s Bank of China, to the neutering of Didi, China’s version of Uber, to declaring the multi-billion-dollar school tutoring industry non-profit with the stroke of a pen.
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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
Banking Exchange
AUGUST 31, 2021
Accelerating digital capabilities in order to win, serve, expand, and retain customer relationships has become priority #1 Technology Tech Management Feature3 Fintech Feature Digital Customers Mobile Online Covid19.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
ATM Marketplace
AUGUST 31, 2021
Branches have struggled to maintain a personal touch with customers while also delivering innovative technology. Video banking can help bridge the gap between these two worlds.
Independent Banker
AUGUST 31, 2021
Photo by Jorg Greuel/Getty. The payments space can be dizzying for even the most enterprising community bank. How do you navigate the constant churn of innovations or disruptors? Experts point to a strategy built on customer input and relationship-building. By Colleen Morrison. Banking-as-a-service (BaaS). Faster payments. Cryptocurrency. Central bank digital currency (CBDC).
TheGuardian
AUGUST 31, 2021
I accidentally put in the incorrect account number for a Nationwide second mortgage I am about to lose my home and don’t know where to turn. My partner and I took out a second £40,000 mortgage through Nationwide last year. It was to be paid into my partner’s account, but it didn’t arrive. I made several calls to Nationwide, which stated that the money had been paid, but refused to confirm the recipient’s details, citing data protection.
Independent Banker
AUGUST 31, 2021
Photo by Heather Esposito. It’s our responsibility to help make our communities better places to live, to help pull people out of poverty and address issues they’re facing. When I consider what differentiates us as community bankers, I’m immediately drawn to the legacy of good we create. We care for those in our communities not because we have to, but because they are our friends, neighbors and relatives.
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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
BankInovation
AUGUST 31, 2021
As financial institutions lean on digital channels to keep pace with customer requirements during the pandemic, cyberattackers have multiplied their efforts to gain access to user credentials via phishing attempts. Financial services accounted for eight among the top 25 firms targeted most often by such attacks, according to a recent report from cybersecurity firm Vade […].
Independent Banker
AUGUST 31, 2021
Some lawmakers on Capitol Hill are increasingly interested in diversity and inclusion (D&I) compliance requirements for financial institutions. Here are the key areas of D&I policies and practices that community banks may need if these requirements change or become mandatory. By Mary Thorson-Wright. How does your bank’s diversity and inclusion (D&I) compliance program compare with the regulatory standards for D&I policies and practices?
ATM Marketplace
AUGUST 31, 2021
When it comes to any industry, those that stand out not only understand the trends, they also set the trends. And by attending the Bank Customer Experience Summit, you will get a chance to meet these trendsetters first hand. This year's summit will be held from Sept. 13 to 15 in Chicago, so you will need to act fast to join in.
BankInovation
AUGUST 31, 2021
Bank of America’s Anne Finucane, vice chair, and Thomas Montag, chief operating officer and head of global banking and markets, will retire at the end of this year, the bank announced Thursday. Montag and Finucane "have been instrumental in Bank of America’s success, especially during the decade following the financial crisis,” the bank stated in […].
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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.
CFPB Monitor
AUGUST 31, 2021
At the end of last month, former New York Governor Cuomo signed into law a bill that amends the state’s Banking Law to require banks to follow certain check processing practices. The amendments become effective on January 1, 2022. The new law applies to “consumer checking accounts” offered by “banking institutions.” “Consumer checking accounts” are defined as “accounts established by natural persons primarily for personal, family or household purposes.
Banking Exchange
AUGUST 31, 2021
It’s undeniable that the pace of digital transformation has accelerated Technology Big Data Feature3 Financial Research Feature Financial Trends Customers.
CFPB Monitor
AUGUST 31, 2021
The OCC, FDIC, and Federal Reserve Board have issued a guide that is intended to assist community banks in conducting due diligence when considering relationships with financial technology (fintech) companies (Guide). The issuance of the Guide follows the agencies’ July 2021 release of proposed interagency guidance for banking organizations on managing risks associated with third-party relationships, including relationships with financial technology-focused entities such as bank/fintech sponsors
Commercial Lending USA
AUGUST 31, 2021
Get all the resources about the the commercial & business laons exclusively from Commercial Lending USA. Get all the information & guides about the different loan process and terms.
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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.
CFPB Monitor
AUGUST 31, 2021
With Colorado’s private education lender registration scheduled to take effect on September 1 st , the Colorado Department of Law has just announced that they intend to bring a new group within their jurisdiction: private postsecondary schools that use income share agreements (ISAs) to help finance students’ education. Schools regulated by the Division of Private Occupational Schools received notice of this interpretation on Friday.
Commercial Lending USA
AUGUST 31, 2021
It is important to structure the commercial loans to fit with the Investor’s guidelines. Most of the Lenders/ Banks take the application and decline it after a few months of paper trial.
CB Insights
AUGUST 31, 2021
Requr , a SaaS financing platform, has raised $5.9M in seed funding from undisclosed investors. How’s the company performing? Amsterdam-based Requr helps SaaS companies attain non-dilutive financing by connecting them with professional investors. Investors pre-pay a SaaS company’s annual subscription fee (via Requr) and then receive that amount back in monthly installments.
Commercial Lending USA
AUGUST 31, 2021
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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.
CB Insights
AUGUST 31, 2021
Atheneum , a research-as-a-service provider, has raised $151M in growth equity funding. The round drew participation from Guidepost Growth Equity, Vogel Communication Group, and Crosslantic Capital, among others. HOW’S THE COMPANY PERFORMING? Berlin-based Atheneum is a B2B research services company that provides expert industry insights to investment funds, consulting firms, and corporations.
TheGuardian
AUGUST 31, 2021
FCA reminds financial firms to guard against money-laundering amid fears of rise in terrorist activity The UK’s financial watchdog is warning banks to review their potential exposure to financial crime in Afghanistan amid fears of resurgent terrorist activity in the country following the withdrawal of foreign troops. Hours after the last evacuation flight left Kabul airport , the Financial Conduct Authority issued a notice reminding financial firms to guard against money-laundering risks after U
The Paypers
AUGUST 31, 2021
The Monetary Authority of Singapore (MAS) has announced 15 finalists for its Global CBDC Challenge to find the best solutions for retail central bank digital currencies (CBDC).
Commercial Lending USA
AUGUST 31, 2021
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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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