Wed.Sep 21, 2022

Extra costs biggest reason shoppers ditch online carts

Payments Dive

With cart abandonment costing online retailers up to $136 billion annually, Coresight Research’s findings suggest they might want to focus on total purchase price more closely matching shopper expectations

Online 311

Why construction loan risk management software is so valuable

Abrigo

Driving efficiency and reducing risk Construction loan risk management software leverages technology and sound process management to pull construction lending away from its manual roots. You might also like this webinar, "How to manage a high-performing construction loan portfolio." WATCH.

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Profits slip for small businesses: survey

Payments Dive

Three in 4 small business leaders are feeling squeezed by inflationary pressures, American Express discovered, and more than half expect don’t expect inflation to subside until summer 2023

Survey 195

Intangibles Insurance: Immense Potential, Emerging Options

Daily Fintech

In this 4th Industrial Revolution, platforms have supplanted traditional companies as wealth creators while intangible assets have replaced heavy machinery. Comprising 90% of S&P 500’s $28.94

Powering Personalization Through Customer Data

Finding the right CDP can help unlock the value of your customer data. This eBook offers guidance on choosing, deploying, and utilizing a CDP, along with a case study on how one bank put data into action to forge stronger connections with customers.

Visa eyes B2B, remittances for growth

Payments Dive

Visa is eyeing certain portions of the B2B market for near-term growth, the company’s chief financial officer said during a conference last week. It’s also building out its network for remittances

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CFPB expresses concern about the potential credit impact of high vehicle costs for consumers

CFPB Monitor

In a blog post on Monday , the CFPB advised that it is concerned about the impact of rising car prices on consumer’s financial health, particularly consumers with sub-prime or near prime credit scores.

Stablecoin News for the week ending Wednesday 21st September.

Daily Fintech

Here is our pick of the 3 most important stablecoin stories during the week. How much interest is there in stablecoins?

Trade groups react to FTC’s proposed Motor Vehicle Dealers Trade Regulation Rule as public comment period closes

CFPB Monitor

Expressing a range of concerns, several key industry groups submitted comments to the Federal Trade Commission (“FTC”) last week regarding its proposed rule that would impose new substantive and disclosure obligations on auto-dealers in the auto finance process.

Groups 114

Southern Missouri Bancorp buying bank to expand in Kansas City

American Banker

Community banking M&A

Digitally Transforming the Engagement Experience for Financial Institutions

Customer experience has become a key differentiator. Learn how to launch your digital transformation by incorporating two customer experience trends into your digital transformation strategy: self-service & personalization.

Businesses Beware: CFPB reviewing “all sorts” of consumer contract clauses

CFPB Monitor

On September 13, 2022, Public Justice and other consumer advocacy groups sent a letter to CFPB Director Rohit Chopra urging the CFPB to limit the use of “forced” arbitration provisions by banks and other consumer finance companies.

Stash debuts its own core system

American Banker

Fintech Core systems Technology

BNA Report: CFPB Review of Consumer Arbitration Agreements Is “on Table”

CFPB Monitor

We recently wrote about a Law 360 report indicating that the CFPB appears unlikely, at least in the near future, to undertake new rulemaking that would regulate the use of consumer arbitration agreements.

Study 78

Podcast: How middleware can accelerate community bank innovation

ABA Community Banking

Christian Ruppe co-founded a fintech firm when he was in college — and later he brought his experience in-house in the community banking space.

The Threat That Could End Community Banking & What To Do About It

A critical risk now facing community banks from the technology world and how to solve it.

Banks scout for talent outside ‘footprint’ cities

BankInovation

SEATTLE — Financial institutions are looking beyond so-called tech cities in the hunt for cloud engineers amid a surging demand for top talent. The market for cloud engineers is so hot, in fact, that $532 billion Truist Bank is scouting for talent in lesser-known areas of the U.S.,

Truss tax cuts will hand big banks and insurers £6.3bn, study says

TheGuardian

Figures compiled by House of Commons Library measure impact of freezing corporation tax and cutting banking surcharge Liz Truss’s government has been criticised for lining up tax cuts that will help big banks and insurers save more than £6bn over the next two years.

Taxes 73

Mastercard’s Finicity speeds data sharing for lenders

BankInovation

Finicity, a wholly owned subsidiary of Mastercard, is partnering with banks to allow customers to instantly verify their identities, employment status and assets for quicker loan underwriting. “On

Are there too many banks?

American Banker

Community banking M&A Consumer banking

The New 7 Facts on Housing Interest Rates and What Banks Can Do About It

The CRE multifamily sector has created tremendous momentum that won’t be slowed by interest rate hikes. Check out the facts right here!

Truist improves CX with smartphone biometrics

BankInovation

Truist is enhancing its mobile banking capabilities to allow customers to validate their identities online, at the branch or an ATM. The Charlotte, N.C.-based

Bank CEOs navigate wide range of Democrats' and Republicans' grievances in House hearing

American Banker

Regulation and compliance Politics and policy

Transactions: Farmers & Merchants Bank selects Fiserv’s Mobiliti

BankInovation

The $336 million Farmers & Merchants Bank of Colby, located in Colby, Kan., is one of seven financial institutions that chose Fiserv’s Mobiliti mobile banking and payments platform in August, according to an FI Navigator report provided to Bank Automation News.

Latest global banking news

American Banker

Payments

How to Choose the Best Automated Documentation System for Commercial Loans

Not all automated loan doc prep solutions are created equal. That is why we have put together a checklist to help you evaluate potential partners and find the best-automated documentation system for your requirements and needs.

Embedded payments present banks with both opportunities and threats

BankInovation

If you want to see the future of commercial banking, it’s already here, in the form of software-embedded payments. For commercial banks the opportunities to unlock new revenue growth are unparalleled. But for banks that aren’t prepared, embedded payments could prove an existential threat.

Liz Truss says any ‘sham referendums’ in Ukraine will not be recognised – UK politics as it happened

TheGuardian

Prime minister says Putin’s calls for mobilisation ‘are a sure sign his barbaric invasion is failing’ Here is some opposition party reaction to the energy support package for business announced by Jacob Rees-Mogg, the business secretary, this morning. Labour says the help has come too late.

Michigan First Credit Union promotes COO to CEO

American Banker

Credit unions Industry News

The Changing Retail Banking Tech Stack: Key Insights for 2023

The Financial Brand

This article The Changing Retail Banking Tech Stack: Key Insights for 2023 appeared first on The Financial Brand. More than 300 bankers weighed in on branch technology and service trends covering ITMs, tablets, cash recyclers and use of universal bankers.

Digital Commercial Lending Technology Case Study: Increasing Loan Volume and ROI

In this Commercial Lending Case Study, you'll discover how to leverage digital lending technologies to accelerate growth and leapfrog the competition in the private lending market. A new and innovative approach to mortgage lending — growing lending volume by orders of magnitude.