Mon.Jun 13, 2022

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PayPal strives to improve checkout

Payments Dive

The company aims to improve the checkout experience for both merchants and consumers, with new services being tested this year, CEO Dan Schulman said.

Company 370
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Prevention is the Key to Stopping Elder Financial Exploitation & Fraud

Abrigo

Elder fraud prevention and education Learn strategies for recognizing and reporting elder fraud and exploitation. . Would you like other articles on BSA/AML training in your inbox? Takeaway 1 Elder abuse, exploitation and fraud continue to rise as the baby boomer generation ages. Takeaway 2 Learn to recognize common types of elder abuse and the red flags that may accompany them.

Fraud 195
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AffiniPay buys legal software firm MyCase

Payments Dive

AffiniPay will link the acquired firm with its LawPay business. The two companies combined are expected to generate about $200 million in annual revenue.

Software 221
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Market Commentary: Week of June 13, 2022

SWBC's LenderHub

Last Week. Last week marked the market’s final confirmation that corrosive inflation is out of the barn with the Fed hopelessly behind trying to play catch-up. The choice for the Fed now is to either stay the course with relatively measured policy tightening and accept the potential for continued growth in inflation or attack inflation with more aggressive tightening and send the economy into a deep recession.

Marketing 147
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Digital Transformation: Accelerating ROI and Growth in Commercial Lending

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

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4 ways to enable technology resiliency at banks

BankInovation

Rapidly scaling technology can foster innovation at the bank level, but it can also create operational risks — from data breaches and environmental failures to other unexpected events. Central to guarding against such threats is cultivating resiliency in bank infrastructure architecture and development. Following are four best practices for enabling operational technical resiliency: Practice failure […].

More Trending

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TD Bank plans to hire 2K tech workers for automation, AI

BankInovation

TD Bank is looking to build out its automation expertise as part of a push to hire 2,000 new technology workers. The bank, a subsidiary of $1.73 trillion TD Group, is expanding in the U.S. with its acquisition of Memphis, Tenn.-based First Horizon Corp. for $13.4 billion, according to a recent Bloomberg Mercury report. TD […].

Memphis 98
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Can Alternative Appraisals Help Solve the Black Homeownership Gap?

SWBC's LenderHub

It’s been over 50 years since federal regulators passed the Fair Housing Act to ban discriminatory lending practices. Despite this, Black and Latino families are routinely denied mortgage loans at rates white families enjoy and the racial homeownership gap is wider than it’s ever been. In 2021, Black homeownership rates were at 44%, while 74% of white individuals owned a home.

Lending 78
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Trade Groups Say “No Thanks” to Notion that FDIC Should Consult CFPB Before Approving Bank Mergers

CFPB Monitor

The results are in after the closing of a public comment period related to the Federal Deposit Insurance Corp.’s review of its bank merger policies. The request for information (RFI) included questions related to the agency’s current bank merger review process, and how the process could be improved. One issue raised in the RFI is “to what extent should the CFPB be consulted by the FDIC when considering the convenience and needs factor and should that consultation be formalized?”.

FDIC 78
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Murex Extends Winning Streak in IBSi Sales League Table

Bobsguide

PARIS, 13 June 2022?—?Murex , the global leader in trading, risk management and processing solutions for capital markets, is thrilled its integrating MX.3 platform has topped the IBS Intelligence Sales League Table 2022’s Wholesale Banking | Treasury & Capital Markets category for the fourth year running. The ranking recognizes financial software vendor success based on 2021 sales figures.

Capital 78
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The State of Automation in Financial Services 2024 Report

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

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Overwhelming Majority of State Attorney Generals Endorse Commitment to Interstate Robocall Investigations Coordinating State and Federal Branches

CFPB Monitor

In January, attorney generals representing all 50 states called on the Federal Communications Commission (FCC) to put a plan in place to counter what they perceived to be a growing tide of fraudulent robocalls. The FCC proposed states act collaboratively to share information for investigations which it claims would prevent duplicative efforts, allowing pooling of resources, and accelerate investigations.

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Strong first quarter: GFT Group upgrades guidance

Bobsguide

Digital transformation has been a dominant topic across almost all industries for several years now – however this wave is still far from peaking. In 2025, global spending on digital transformation will be more than double the amount it was in 20201). – Group EBT up by 91 percent compared to first quarter of 2021, revenue up by 40 percent. – Group revenue guidance for 2022 upgraded from EUR 680 million to around EUR 720 million and EBT guidance from EUR 54.5 million to around EUR 58

Groups 60
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By the Numbers: Remote, hybrid work drive automation projects

BankInovation

Nearly all IT decision-makers have implemented automation projects within the last two years while about half have executed three to four automation projects during that same period. So finds a recent study that polled more than 1,200 IT decision-makers in the U.K., U.S., France, Germany and Japan earlier this year by intelligent automation firm Abbyy. […].

Study 52
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Podcast: Crafting a sweet customer experience

ABA Community Banking

The cookies may be pre-packaged in plastic now, but human touch remains essential to community banking. The post Podcast: Crafting a sweet customer experience appeared first on ABA Banking Journal.

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Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance

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.

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CRED, an Indian fintech company providing consumer credit, reaches $6.4B valuation. CRED competitors are Slice, OneCard, and CreditVidya.

CB Insights

CRED , a consumer credit company, has raised $140M in a Series F. The round drew participation from Alpha Wave Global, Tiger Global Management, Sofina, and GIC, among others. <span data-sheets-value='{"1":2,"2":"<div class="cbi-cta-shortcode-wrapper"><div class="cbi-cta-shortcode-content"></div><div class="cbi-cta-shortcode-forms" ><div class="cta has-desktop"><div class="cta-desktop cent

Fintech 37
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What the end of ‘Chevron deference’ could mean for banks

American Banker

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Fostering Employee Engagement

Image Works Direct

As people return to working in person, it’s important to think about ways to keep employees engaged. Engaged employees are more productive and are more likely to stick around long term. So, what are some ways that you can encourage engagement? It’s a lot easier than you think, and image.works is here to help!

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Scroll Finance and Modulr partners

The Paypers

Scroll Finance , a fintech providing smart financing solutions to homeowners, has announced that Modulr , an embedded payments platform, will power its underlying payments infrastructure.

Fintech 36
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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

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.

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Nigeria revamps AML/CFT framework

The Banker

A raft of new legislature designed to tackle money laundering and terrorist financing signifies a big change for the financial services market. James King reports.

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Vaultspay, Wibmo team to launch Pre-Paid Card Platform

The Paypers

UAE-based fintech VaultsPay has teamed with PayU-owned payment security provider Wibmo to launch a pre-paid card platform that aims to accelerate financial inclusion in the Middle East.

Cards 36
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The ‘visionary’ behind a tech-savvy commercial bank

American Banker

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APEXX Global enables access to Paysafe's acquiring services for merchants

The Paypers

UK-based payments platform APEXX Global has partnered with Paysafe to offer the latter’s payment processing services to the former’s merchant base in the UK and Europe.

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Top 10 Benefits of Automating Loan Modifications for Commercial Lenders

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.

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White House backs Maxine Waters’ financial-equity bill

American Banker

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FIS signs clearing and settlement agreement with Société Générale

The Paypers

FIS and French banking group Société Générale has signed an extended agreement, selecting the fintech for the strategic transformation of its derivatives clearing and settlement technology.

Groups 28
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Farmers turn to banks, fintechs to address wilting profits

American Banker

Fintech 69
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Masa Finance partners Pngme for DeFi adoption in Africa

The Paypers

Silicon Valley DeFi protocol Masa Finance has announced it is partnering with African financial data company Pngme to drive the adoption of DeFi credit services in the region.

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2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

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.