Bank Innovation
DECEMBER 30, 2019
Digital lenders will continue to pursue product diversification strategies as companies expand market share in the coming years, research from S&P Global Market Intelligence concluded. “Digital lenders are keen to innovate their product offerings to cater more specifically to different customer segments,” S&P noted in its 2019 U.S. Digital Lending Market Report.
Abrigo
DECEMBER 30, 2019
Key Takeaways Using exam findings from 2019 can help strengthen your BSA program in 2020. Institutions must create a strong culture of compliance. Pillar violations see a big increase in the nature and seriousness of the violation. . Looking back to strengthen your BSA program. The decade is quickly coming to an end, so as we put 2019 in our rear-view mirror, it’s time for a fresh start with the new year and new decade approaching.
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Bank Innovation
DECEMBER 30, 2019
For Personal Capital, the path to scale is go broad. The company this month hit a milestone of $12 billion in assets under management, which it sees as evidence its digital and human approach is yielding results. “We give people a 360-degree look at all of their finances — it’s a holistic approach,” Porter Gale, […].
PYMNTS
DECEMBER 30, 2019
Silicon Valley startup Plus.ai is thought to be the first company to deploy a self-driving commercial truck to haul 40,000 pounds of butter roughly 42 hours cross-country from Tulare, California to Quakertown, Pennsylvania, ZDNet reported. The company’s Level 4 autonomous semi-tractor-trailer completed the 2,800-mile run for Land O’Lakes in under three days.
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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
Payments Dive
DECEMBER 30, 2019
Instant represents the new norm for payments. Find out how FSS Pay Connect can help PSPs seamlessly on board onto the world of Instant Payments and generate new revenue streams.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Ron Shevelin
DECEMBER 30, 2019
Our longstanding adherence to GAAP (Grievously Archaic Accounting Principles) is giving way to SAAP (Startup Accepted Accounting Principles). Here are some new metrics for the fintech era.
PYMNTS
DECEMBER 30, 2019
Bitcoin investors are in for a halving event in 2020 that could potentially give their currency a boost , according to Bloomberg. A halving event refers to the process in which the reward that Bitcoin creators get for creating fresh bitcoins will be cut in half. Sometimes, it’s referred to as the halvening instead, a reference to the classic fantasy film “Highlander.”.
ABA Community Banking
DECEMBER 30, 2019
Participating in Hiring Our Heroes is an excellent way to deepen your talent pool while making a difference in the lives of those who have done so much for our country. The post Helping Our Banks by Hiring Our Heroes appeared first on ABA Banking Journal.
PYMNTS
DECEMBER 30, 2019
Delivery service Postmates and popular coconut water drink Vita Coco are partnering with Manhattan deli Lenwich to offer a whimsical but practical 2020 “hangover remedy kit,” according to Fox Business. The free-while-they-last kits will feature a bottle of Vita Coco plus additional branded items from the company, including socks, a sleep mask, and a “Do Not Disturb” door sign.
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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
Payments Source
DECEMBER 30, 2019
2019 kicked off with a series of large, multi-billion dollar acquisitions that promised to forever change the landscape of the payments industry. And while those big deals were clustered at the start of the year, many other pivotal deals took place over the course of the year.
PYMNTS
DECEMBER 30, 2019
The index of pending home sales increased 1.2 percent in November after a fall in October that followed two consecutive months of increases, the National Association of Realtors (NAR) reported Monday (Dec. 30). . The NAR Pending Home Sales Index (PHSI), which measures the number of purchase contracts signed, rose to 108.5. Contract signings measured year over year were up 7.4 percent and pending home sales rose nationwide in all regions compared to 2018.
BankBazaar
DECEMBER 30, 2019
The last 10 years went by really fast. And it’s been a great ride for BankBazaar (much thanks to each and every one of you). Here’s a quick recap of our remarkable accomplishments in the last decade. Looking for a financial product – Credit Card, Personal Loan, Home Loan? BankBazaar can help you get the best offer. Click to explore.
PYMNTS
DECEMBER 30, 2019
Singtel and Grab are looking to consolidate their powers to create a new digital bank for the people of Singapore, they announced in a press release. Singtel , Asia’s leading communications technology group, and Grab , Asia’s leading super app, have formed a consortium to enter digital banking and help the communities of Singapore that have traditionally been left behind in banking matters, the press release said.
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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.
Matt Wilcox Pro
DECEMBER 30, 2019
I shall open this week’s post by quoting Neal deGrasse Tyson. Tyson is a bestselling author, director of the Hayden Planetarium (part of the Department of Astrophysics at the American Museum of Natural History in New York), and, according to People magazine, the sexiest astrophysicist alive. (One wonders why People felt the need to qualify “sexiest astrophysicist” with “alive.
PYMNTS
DECEMBER 30, 2019
Barney’s has given way to Saks Fifth Avenue, directing shoppers to the latter’s sites in these last days of the year, one of the latest changes in luxury retail in 2019. “The luxury retailer has stopped eCommerce transactions on its Barneys.com and Barneyswarehouse.com websites. The sites now redirect to Saksfifthavenue.com and Saksoff5th.com, respectively.
Banking Exchange
DECEMBER 30, 2019
The effect of student loans is greater than meets the eye Retail Banking Lines of Business Financial Trends Feature People Feature3 Consumer Credit Community Banking.
PYMNTS
DECEMBER 30, 2019
That Amazon is a widely lionized yet simultaneously imitated force in retail is not surprising. Ever since Amazon introduced a one-click checkout, a loyalty program that people willingly paid for, two-day shipping that has compressed to same-day delivery, attempts at reinventing retail by everyone in it have been never ending. The problem, ShopFulfill Founder and CEO Shlomo Chopp explained to Karen Webster, is that Amazon’s business model is hard to replicate given what’s required to be a compet
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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.
Payments Source
DECEMBER 30, 2019
The current climate is akin to the wild west, with little protection for the consumer, and new regulations are needed if the technology is to continue to expand in a safe and sustainable way, argues Mitek's Stephen Ritter.
PYMNTS
DECEMBER 30, 2019
Mondays have a bad reputation, and that’s understandable. The magic of the weekend is fading into memory, and sometimes even the strongest coffee has a hard time sparking the engine needed for the workweek ahead. But Mondays have a different meaning here at PYMNTS — and for me. It’s the day we publish my weekly column about the latest trends in these industries we all love.
Payments Source
DECEMBER 30, 2019
Jason Gardner, founder and CEO of Marqeta, has built three fintech companies and learned along the way what works in building a fintech startup. He also has a stark warning for traditional institutions.
PYMNTS
DECEMBER 30, 2019
The middle market can be an ideal corporate customer for a financial institution (FI). Unlike a small business, the middle market typically holds a lower-risk profile with steady profits and strong growth. And unlike the large commercial enterprise space, the middle market doesn’t often demand immense complexity of products and services. Yet, according to Kris Carrera, general manager and business line executive of Credit Payments at FIS , the middle market is often underserved — particularly wh
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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.
American Banker
DECEMBER 30, 2019
Still trying to figure out whether to build gateways to your bank's data and systems? Here’s why you should transition.
PYMNTS
DECEMBER 30, 2019
A new law in California requires companies to explain exactly what customer information, if any, is being sold to third parties, according to a report by Reuters. The new law goes into effect on Jan. 1. Retailers are rushing to achieve compliance, adding links to websites with “Do Not Sell My Info” buttons and creating signage in stores to the same effect.
Payments Source
DECEMBER 30, 2019
The technology has graduated from early movers and is large enough to make a difference in authentication, argues Findora's Charles Lu.
PYMNTS
DECEMBER 30, 2019
U.K.’s high streets have been hit with the hardest times in a quarter of a century with the closure of 16,000 stores this year and 140,000 jobs lost, according to reports. According to a study by the Center for Retail Research (CRR), More than 2,750 jobs were lost every week — about 61 every working day. The study also said that without further government intervention, job losses in retail could hit 171,000 next year.
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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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