Payments Dive
MARCH 16, 2022
Each generation has approached credit differently; Gen Z is no exception. As they turn toward credit cards, industry analysts say these consumers are likely to keep card companies on their toes.
Accenture
MARCH 16, 2022
There are times when you have to break something apart in order to make it better. For banks, it’s time to break down the traditional value chain and replace it with a more future-friendly set of business models. Until now, the value chain in banking has relied on a vertically integrated business model. But in…. The post Bold banks can grow by shattering the value chain appeared first on Accenture Banking Blog.
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Payments Dive
MARCH 16, 2022
A new survey from one equity analyst suggests installment financing from the buy now-pay later company Affirm has appeal for rich and poor alike. "The demand for our service is going up because consumers are trying to ration their money,” Affirm CEO Max Levchin told CNBC.
South State Correspondent
MARCH 16, 2022
Fed Begins Rate Hikes. More to Come. As expected, the Fed raised the overnight target rate 25bps to 0.25% – 0.50%. The updated Dot Plot now shows a total of seven 25bps hikes in 2022, including today’s, and another three hikes in 2023 reaching 2.75%. The longer-run fed funds terminal rate is forecast to be 2.4%, reached in 2024. There was speculation that the terminal rate would be raised in recognition of the generationally high inflation numbers but it essentially remained unchanged (see
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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
MARCH 16, 2022
In the next few weeks, the two U.S. automated payments systems are set to increase the speed with which $1 million can be sent between two parties.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
BankInovation
MARCH 16, 2022
Huntingdon Valley Bank announced Tuesday that it will use nCino for artificial intelligence (AI)-based loan pricing and profitability modeling. The Huntingdon Valley, Pa.- based bank’s previous pricing models were inefficient and built around time-intensive manual procedures, Hugh Connelly, executive vice president and chief lending officer at the community bank, said in a release.
South State Correspondent
MARCH 16, 2022
Countdown to Rate Liftoff Begins. The March FOMC meeting concludes this afternoon with a 25bps rate hike a foregone conclusion. As we mentioned on Monday, the real focus for investors will be in the forecast for further rate hikes this year, and the updated economic forecast with inflation and GDP key items of interest in the wake of the war in Ukraine.
BankInovation
MARCH 16, 2022
For financial services firms wanting to compete against an ever-growing number of fintech players, the road to parity goes through the back office — specifically in reevaluating and upgrading technology and processes. Many banks, credit unions, wealth management firms and other financial services companies are already feeling the pain of being anchored to legacy technology […].
Bobsguide
MARCH 16, 2022
With a Two-Year Revenue Growth of 1726%, NXTsoft Ranks No. 5 on Inc. Magazine’s List of the Southeast Region’s Fastest-Growing Private Companies. “NXTsoft is thrilled to be named one of the fastest-growing companies in the Southeast,” said David Brasfield, CEO of NXTsoft. “This achievement is a testament to the hard work and dedication of our talented team of employees and because NXTsoft delivers quality APIs to the financial and Fintech community that facilitate connectivity and enable digital
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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
MARCH 16, 2022
CHARLOTTE, N.C. — TIAA Bank plans to expand its use of unstructured data to improve complaints management. Use of unstructured data will provide the bank with better insights into potential trends, John Elton, chief information officer of $40 billion TIAA Bank, said at the Bank Automation Summit. During the fireside chat, Bank Automation News Publisher […].
TheGuardian
MARCH 16, 2022
Lloyd’s issues largest ever fine to Atrium for mishandling of harassment case and ‘tolerating’ inappropriate staff event The insurance market Lloyd’s of London has issued the largest fine in its 336-year history after a member firm mishandled a bullying and harassment case and hosted an inappropriate “boys’ night out” event for staff. Lloyd’s announced on Wednesday that it had fined Atrium Underwriters more than £1m due to “serious failures” by the firm, which was shown to have tolerated discrim
The Paypers
MARCH 16, 2022
The fusion between ride-hailing startup Gojek and ecommerce company Tokopedia, trading under the name of PT GoTo has announced its plan to carry out an initial public offering (IPO) on the Indonesia Stock Exchange (IDX) market.
CB Insights
MARCH 16, 2022
Roofstock , a property technology company, has raised $240M in a Series E. The round drew participation from SoftBank Group, Khosla Ventures, SVB Capital, and JLL Spark, among others. HOW’S THE COMPANY PERFORMING? California-based Roofstock enables retail and institutional investors to purchase and sell rental homes. The platform has processed more than $5B in transaction volume.
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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.
The Paypers
MARCH 16, 2022
Estonia-based crypto fintech Miracle Cash&More has announced launching its first physical cryptocurrency store in Amsterdam.
ABA Community Banking
MARCH 16, 2022
A recent report issued by the Government Accountability Office found that some banking regulators lack “outcome-oriented measures” in assessments of their efforts to increase banking access to unbanked and underbanked consumers. The post GAO: Regulators Lack ‘Outcome-Oriented Measures’ in Assessing Efforts to Increase Banking Access appeared first on ABA Banking Journal.
The Paypers
MARCH 16, 2022
UK-based fintech WorldFirst has partnered with RITMO to launch a GBP 100 million growth package that supports fast-growing ecommerce SMEs in the kingdom.
ABA Community Banking
MARCH 16, 2022
The American Bankers Assocaition raised concerns today regarding documentation for the Treasury Department’s Emergency Capital Investment Program, a program aimed at helping community development financial institutions and minority depository institutions support access to capital in underserved communities. The post ABA Raises Concerns With Treasury’s Emergency Capital Investment Program appeared first on ABA Banking Journal.
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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.
The Paypers
MARCH 16, 2022
Germany-based payment solution provider collectAI has announced cooperating with the payment development company of the ecommerce company Otto Group (PEG).
The Paypers
MARCH 16, 2022
Canadian tech leaders have asked Canada’s federal government to appoint an Open Banking lead and implement the recommendations made by the Advisory Committee on Open Banking.
American Banker
MARCH 16, 2022
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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.
The Paypers
MARCH 16, 2022
UK-based identity verification platform Shufti Pro has announced it raised USD 20 million in Series A funding to expand and augment its product suite.
American Banker
MARCH 16, 2022
The Paypers
MARCH 16, 2022
Austria-based payment orchestration platform IXOPAY has selected Hawk AI for fraud prevention solutions aimed at its white-label clients.
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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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