Mon.Aug 05, 2024

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Bank stocks hit in global market rout

American Banker

Shares in U.S. banks weren't immune to a global market sell-off, as worries mounted over whether the U.S. economy's recent resilience is faltering. The turmoil hit some tech stocks hard and led to the worst day for Japanese stocks since the 1980s.

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Outpace Your Competition: Strategic SMB and Commercial Banking Tactics

Jack Henry

The Jack Henry™ 2024 Strategy Benchmark reveals the escalating competition among SMB and commercial enterprises, underscoring the potential consequences for unprepared financial institutions that fall behind.

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FedNow ‘could lower fees’ in future, analyst reports

Payments Dive

The Federal Reserve instant payments system may cut fees after it attracts more financial institutions, or in the face of competition, a Wolfe Research analyst said, citing a FedNow official.

Report 397
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A Case Study for Building Commercial Relationships

South State Correspondent

If your bank is interested in baking more profitable commercial relationships – those customers with multiple bank products, where the bank holds over 50% of bank wallet, provides long-term sticky banking services and recognizes over 20% return on equity (ROE) – then the case study described in this article will be of interest to you. We highlight how a community bank won a commercial real estate (CRE) mortgage against multiple competitors, solidifying an existing relationship, extending term t

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How Unify Turned Month-End Mayhem Into a Growth Party With Automation!

By ditching paper and manual checklists, UNIFY embraced ART’s cloud-based solution for seamless automation. The robust dashboards, exception reports, and completion date reports allowed the team to easily track progress and resolve bottlenecks. ART’s flexible access for auditors ensured tight deadlines were met effortlessly. With competitive pricing and a rapid setup, ART cut costs and minimized disruptions, enabling UNIFY’s team to concentrate on high-impact tasks.

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JPMorgan threatens to sue CFPB over Zelle

Payments Dive

The bank flagged government inquiries over its handling of P2P disputes in May, and said Friday it would consider litigation if the agency issues an enforcement action.

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Apple services revenue rises with boost from payments

Payments Dive

The company said it raised a record $24.2 billion from services in the most recent quarter, a 14% year-over-year increase.

Apple 383
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How would a recession impact BNPL lending?

American Banker

Monday's market decline has sparked concerns of an economic downturn, calling attention to installment lenders that market to distressed consumers.

Lending 81
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Tech roundup: AI adoption is up, but AI revenue is up in the air

BankInovation

Big tech companies reported higher adoption of AI services in the second quarter, but investors want to see returns on those investments.

Capital 65
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CFPB warning on whistleblower protection is a positive step

American Banker

With the Consumer Financial Protection Bureau joining the growing list of top enforcement agencies recognizing the value in whistleblowing, companies should take heed and avoid any provisions in employment and severance agreements that in any way impede or penalize whistleblowers.

Company 73
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The 2024 Lenders Guide to Automating the Complex Loan

Download the latest edition of GoDocs' "The Lender's Guide to Automating the Complex Loan." This comprehensive guide offers financial institutions valuable insights into document automation for complex commercial loans. It unpacks the intricacies of complex loans and showcases how an automation platform like GoDocs — the leading commercial loan closing platform — delivers impressive benefits and ROI to any FI.

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5 questions with BNY Treasury Services’ Carl Slabicki

BankInovation

Carl Slabicki, managing director and co-head of global payments at BNY treasury services, is focused on keeping up with client demand by monitoring industry trends, innovating with the latest tech and prioritizing client engagement with products.

Trends 63
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'They need to kick the tires': Karen Petrou on bank-fintech alliances

American Banker

A long-time industry observer and bank regulation expert spells out the steps banks should take to ensure their fintech relationships are safe.

Fintech 68
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Financial regulatory agencies propose data standards rule

The Paypers

The CFPB has joined other federal financial regulatory agencies in proposing a rule to establish data standards for certain information collections submitted to these agencies.

Data 41
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July community bank C-suite changes

American Banker

New executives were lined up for lenders across the country, including Fremont Bank in California.

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Is Your Current Card Platform Holding You Back?

Have you ever felt the pain and loss of a client suddenly going silent, leaving you questioning everything? Ghosting can cause heartbreak; in business, it drains resources, and emotionally, it shatters your confidence. A modern credit card program can give you the tools to deliver the digital-first experiences your customer’s demand. Our eBook, “5 Signs Your Credit Card Offering Needs an Upgrade,” will help you identify key indicators that your current card platform may be holding you back and w

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Tencent suspends WeChat Pay Malaysia

The Paypers

China-based Tencent has announced its decision to suspend WeChat Pay Malaysia, aiming to centre its focus on catering to the needs of Chinese tourists in the Southeast Asian country.

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Fed, FDIC finalize guidance on resolution plans for large non-systemic banks

American Banker

The guidance largely matches last summer's proposal, with clarifications around least-cost determinations, foreign bank resolutions and resolution strategies. Regulators also gave banks more time to file their living wills under the new framework.

FDIC 45
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Google Pay, PhonePe, Amazon Pay eye India's e-Rupee Pilot

The Paypers

Google Pay, PhonePe, Amazon Pay, and Cred are seeking to join India's e-rupee pilot, aiming to boost digital currency adoption through their platforms.

Google 45
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Judge approves SVB parent bankruptcy plan

American Banker

Judge Martin Glenn of the Federal Bankruptcy Court of the Southern District of New York greenlighted SVB Financial's bankruptcy plan Monday, but $1.93 billion in FDIC-held deposits remain contested pending further litigation.

FDIC 41
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Auditpalooza: Rocking the Month-End Close Audit

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

A good, fast, clean audit leads to a happy work life. Join us in this one-hour webinar, where we share the best ways to prepare and conduct your audit process to maximize audit satisfaction and minimize administrative time in month-end close and financial reporting. Learning objectives: This course objective is to review leading practices to maximize audit success.

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Next Generation and DECTA team up on Euro-pegged stablecoin

The Paypers

France-based Next Generation has partnered with Ireland-based EMI DECTA to launch the Euro-pegged stablecoin, EURT, compliant with MiCA regulations.

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How a credit union is keeping track of members without coding

American Banker

Ent Credit Union in Colorado is using automated customer relationship management software from Creatio to help improve its employee-facing data management systems without the need for computer programmers.

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Tuum partners with ComplyAdvantage

The Paypers

Tuum has announced its partnership with ComplyAdvantage in order to deliver faster compliance, reduced risk, as well as optimised operational efficiency.

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What Harris' potential VP picks have to say about banking

American Banker

Sen. Mark Kelly of Arizona and Govs. Tim Walz and Josh Shapiro of Arizona and Pennsylvania are reportedly on the short list to be Kamala Harris' vice president.

Arizona 40
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3 Ways Managed Device Services Help Community Banks Cut Costs

Community banks seek ways to leverage their technology infrastructure to drive productivity and growth. However, the sheer volume of technology devices, capital constraints, and lack of skilled resources stand in the way. This Strategy Brief explores how a managed device services partner can help bridge this resource gap. Managed device services partners empower community banks to take charge of mission-critical device management activities with: Logistics and installation services to support se

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Proxyrack partners with iDenfy

The Paypers

Hong Kong-based Proxyrack has announced its partnership with Lithuanian-based regtech iDenfy in order to onboard new customers and users with accuracy and speed in mind.

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Treasuries surge as traders bet on emergency Fed rate cut

American Banker

Bond traders now see a roughly 60% chance of an emergency quarter-point cut by the Federal Reserve within one week because of the market turmoil.

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CBUAE fines UAE bank for anti-money laundering lapses

The Paypers

The Central Bank of the UAE ( CBUAE ) has imposed a financial sanction on a bank operating in the region for anti-money laundering lapses.

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Reed urges the Fed to beef up reporting of synthetic risk transfers

American Banker

Sen. Jack Reed, D-R.I., asked the Federal Reserve to require public reporting of synthetic risk transfers — also known as credit risk transfers, or CRTs — through bank call reports and systemic risk reports.

Report 36
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5 Things Lenders Need to Know About Portfolio Loans & Their Documentation

Discover the key benefits of portfolio loans and learn how to streamline your lending process with our infographic, "5 Things Lenders Need to Know About Portfolio Loans & Their Documentation." Find out how portfolio loans can maximize borrower potential by consolidating multiple properties under a single loan, reducing paperwork, and lowering closing costs.