Abrigo
JULY 12, 2021
Q Factors under CECL and How They Will Compare Understanding the quantitative side of the CECL calculation is the start to applying qualitative adjustments under CECL. Would you like other articles on CECL and Q Factors in your inbox? Takeaway 1 Banks and credit unions moving to CECL in 2023 understandably want to know how Q factors will compare with current practices.
Cisco
JULY 12, 2021
Earlier this year Cisco completed its acquisition of imimobile, adding an enterprise-grade CPaaS platform to Cisco’s industry-leading collaboration and contact center solution portfolio. The Cisco Financial Services team welcomes imimobile’s Alex Cambell , SVP Sales at imi mobile, as our guest blogger this week. Changing consumer behavior and digital disruptors within the banking industry have redefined how we interact with financial service providers.
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Abrigo
JULY 12, 2021
The Financial Action Task Force (FATF) addressed areas of AML global concern. The agency recently completed their three-day June plenary. They addressed some of the most pressing illicit financial issues the world faces today. . Would you like others articles like this in your inbox? Takeaway 1 Following the three-day plenary, FATF released expanded guidance in several areas of AML/CFT global conerns.
BankUnderground
JULY 12, 2021
Giovanni Covi, Mattia Montagna and Gabriele Torri. Systemic risk in the bank sector is often associated with long periods of economic downturn and large social costs. In a new paper , we develop a microstructural contagion model to disentangle and quantify the different sources of systemic risk for the euro-area banking system. Calibrated to granular euro-area data, we estimate that the probability of a systemic banking crisis was around 3.6% in 2018.
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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
BankInovation
JULY 12, 2021
Core provider Jack Henry plans to add support for digital currency via its Banno Digital Platform. Support for digital currency and treasury management will be the “key priority” for the upcoming fiscal year, Stacey Zengel, senior vice president of Jack Henry and Associates and president of Jack Henry Banking, told Bank Automation News. “Right now, […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
BankInovation
JULY 12, 2021
A recent spurt in investment activity and dizzying yields have brought decentralized finance, or “DeFi,” to mainstream attention. DeFi is an umbrella term for reconfiguring financial services so they can be built on the foundation of distributed ledgers. Put simply, DeFi projects spur users to shift away from centralized service providers, like banks, to instead […].
SWBC's LenderHub
JULY 12, 2021
Last Week: The rally in the long end of the treasury yield curve dominated the news last week. At one point on Thursday, the 10-year note traded at 1.26%, which was a very far cry from the two percent investors expected just two months ago. There was word that, as mortgage rates dropped through three percent again, servicers (or Wall Street desks that sold servicers options that add duration) began convexity buying.
Banking Exchange
JULY 12, 2021
Attack orchestrated by notorious REvil cyber-criminal gang Risk Management Security Tech Management Cyberfraud/ID Theft Operational Risk Feature3 Feature.
CB Insights
JULY 12, 2021
In the early months of 2021, SPACs seemed to still be riding the wave from last summer. The first quarter of the year saw a record 298 SPACs formed, raising $83B — up from 135 deals and $36B the quarter prior. . the state of venture report. Download our free report to get the TL;DR on what you need to know about venture funding and trends in Q2’21.
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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
Banking Exchange
JULY 12, 2021
Loan defaults during the pandemic largely failed to materialize Management Feature Financial Trends The Economy Performance Feature3 Covid19.
BankInovation
JULY 12, 2021
Community development financial institutions (CDFIs) and minority depository institutions (MDIs) serve as major sources of consumer and commercial loans for low-income individuals and minority groups; however, a lack of automation continues to plague some of these financial institutions and hinder the delivery of loans. CDFIs deliver at least 60% of their total lending, services and […].
TheGuardian
JULY 12, 2021
UK banking sector ‘remains resilient’ despite continued uncertainty, say officials The Bank of England has lifted all Covid restrictions on dividends at the UK’s largest lenders, paving the way for a boom in payouts even as the pandemic continues. Officials said banks were strong enough to weather the remainder of the Covid pandemic, and that interim results from the upcoming stress tests – due in December – showed the banking sector “remains resilient” despite continued uncertainty.
CB Insights
JULY 12, 2021
Instawork , an on-demand staffing platform, has raised $60M in a Series C. The round drew participation from Spark Capital, SV Angel, Craft Ventures, and Google Ventures, among others. HOW’S THE COMPANY PERFORMING? California-based Instawork provides a flexible employment solution for businesses looking to hire hourly workers. Its digital marketplace connects tens of thousands of businesses to over 1M hourly workers across the United States.
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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.
FICO
JULY 12, 2021
The End of COVID-19 Support. Loans, grants, and job protection schemes provided by governments around the world during the past 18 months have eased the financial burden of the pandemic, for both businesses and their consumers. Lenders have benefitted from state measures which have so far helped limit near-term loan defaults. But with discussions around withdrawing government support now underway , many stimulus packages will start to be wound down within the next six months or so.
American Banker
JULY 12, 2021
Consumer lending Earnings Commercial lending Credit quality
The Paypers
JULY 12, 2021
TietoEVRY Card Issuing and Financial Crime Prevention have reached an agreement with Bank Norwegian to follow the bank on their journey to Europe by expanding into Germany and Spain.
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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.
MerhantsBanks
JULY 12, 2021
We’re continuing to grow here at Merchants – and our community businesses deserve experts with years of experience and the knowledge to help your business thrive. Meet some of our new additions to the Merchants Bank Commercial team. Nick Benz, Treasury Management Sales Officer Lead, Onalaska Nick is a Certified Treasury Professional (CTP) and brings […].
BankInovation
JULY 12, 2021
Community development financial institutions (CDFIs) and minority depository institutions (MDIs) serve as major sources of consumer and commercial loans for low-income individuals and minority groups; however, a lack of automation continues to plague some of these financial institutions and hinder the delivery of loans. CDFIs deliver at least 60% of their total lending, services and […].
The Paypers
JULY 12, 2021
US-based private equity firm K1 Investment Management has made a USD 120 million investment in New York-based Compliance Science , a fintech in the regulatory technology space.
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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.
BankDeals
JULY 12, 2021
Savers Bank offers its competitive rewards checking account, Ka-Ching Checking, to U.S. citizens/resident aliens who live in Connecticut, Massachusetts, or Rhode Island.
The Paypers
JULY 12, 2021
Mosaiclab has launched Konta, a Saas invoice-to-pay automation platform running on Moroccan artificial intelligence technology.
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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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