Accenture
JUNE 14, 2022
You can divide the history of money into five epochs, with each creating a new paradigm for the exchange of value. We are about to enter the next one—and it might just mean that the idea of money will come full circle. Direct exchange of the goods being traded is the oldest form of value…. The post Why money in the metaverse is a huge opportunity for banks appeared first on Accenture Banking Blog.
Payments Dive
JUNE 14, 2022
Payments companies “led the pack in valuation increases” and had the biggest average increase in valuation, according to S&P Global Market Intelligence.
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South State Correspondent
JUNE 14, 2022
Treasury Yields Reach Highest in a Decade. The May CPI Report continues to reverberate around the world, and in its wake are Treasury yields not seen in over a decade. Investors are betting the Fed will either not be able to contain inflation anytime soon, or that if they do it will necessitate a hard economic landing in the form of a recession. The 10-yr yield is currently 3.27%, a new cycle high eclipsing the 3.21% touched briefly in May, and it’s also the highest 10yr yield since May 2011.
Payments Dive
JUNE 14, 2022
The six-year-old company said it expanded its client base by a third in the first quarter and will double last year’s count to 150 by the end of this year.
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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
CFPB Monitor
JUNE 14, 2022
The CFPB issued an order last week terminating the no-action letter issued to Upstart Network, Inc. on November 30, 2020 for a 36-month term (NAL). The NAL was essentially a renewal of the no-action letter issued to Upstart in September 2017, which was the first no-action letter issued by the CFPB. The NAL was issued in connection with Upstart’s automated model for making underwriting and pricing decisions on applications by consumers for unsecured, closed-end loans.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
BankInovation
JUNE 14, 2022
The notion that the cryptocurrency industry has near-magical powers to pay out yields that dwarf those found in the traditional financial world without much added risk is undergoing a rapid and painful reality check. Barely a month after the dramatic collapse of the Terra blockchain, whose Anchor protocol enticed investors with annual yields of almost 20%, crypto lender Celsius […].
PopularBank
JUNE 14, 2022
Debit cards are a quick and easy way to pay for your everyday transactions. And if you’re working on sticking to your monthly budget, a debit card can help keep you on track to meet your financial goals. However, an unauthorized transaction on your debit card – unlike a credit card – can have a financial impact, so it is important to know how to prevent types of debit card fraud.
CFPB Monitor
JUNE 14, 2022
Yesterday, the Consumer Financial Protection Bureau (CFPB) issued the Office of Servicemember Affairs Annual Report for 2021. The report focuses primarily on customer complaints, highlighting issues related to credit reporting, debt collection, and medical billing. . According to the CFPB, it received more than 42,700 customer complaints from servicemembers in 2021, a 5% increase from 2020 and up 19% from 2019.
BankUnderground
JUNE 14, 2022
Lena Anayi, John Lewis and Misa Tanaka. Since the onset of Covid-19, firms and workers have adopted and adapted to new working arrangements, which involved some workers primarily or exclusively working from home (WFH). What lessons – if any – can be drawn from this experience to inform future of work? A previous blog post examined how WFH might affect productivity.
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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
William Mills
JUNE 14, 2022
Albert Einstein once said, “If you can’t explain it simply, you don’t understand it well enough.” We often become so immersed in our day-to-day language that we don’t stop to consider someone else’s knowledge on the subject before attempting to explain something.
Bobsguide
JUNE 14, 2022
Finastra adds Lozenge Analytics complex calculation capabilities to Fusion KTP for treasury customers. Users will benefit from advanced treasury and risk management capabilities. Paris, France – June 14 – 2022 – Finastra today announced a partnership with Lozenge Analytics, offering the capabilities to Fusion KTP customers. The combined solution, available in the cloud or on-premise, is available to clients in France and the Benelux region, with the potential to expand into other geographi
The Paypers
JUNE 14, 2022
US-based payment orchestration platform Spreedly has collaborated with Mastercard to support, expand, and augment tokenised transactions for merchants.
BankInovation
JUNE 14, 2022
Legacy banks have been historically slow to adopt technology. This is changing rapidly today, as intense competition has compelled these banks to overhaul their dated technology. This overhaul will have a profound effect on regulatory compliance, a dusty but vital corner of investment banking and capital markets. Challenges of tech adoption in compliance We are […].
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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
JUNE 14, 2022
Unchain Fintech Festival has collected data from top banking and fintech representatives for a market study called Fintech Under the Spotlight focused on the CEE region.
BankInovation
JUNE 14, 2022
Jayson Callies, chief information and innovation officer at Seattle Bank, will join Bank Automation Summit Fall 2022 to speak on the “Embedded Finance: Frontiers in Open Banking” panel on Monday, Sept. 19 at 1:45 p.m. PT. Bank Automation Summit Fall 2022 will be held Sept. 19-20 at the Hyatt Olive 8 in Seattle. The Summit […].
The Paypers
JUNE 14, 2022
Revolut , a financial super app, has launched new fee-free USD transfers to the UK.
BankInovation
JUNE 14, 2022
Two trends emerging as opportunities for banking-as-a-service (BaaS) are the growth of the gig economy and small businesses, and Green Dot, the fintech and holding company that powers services for Uber, Walmart, Amazon Flex and Intuit, is getting in on the action. Green Dot is currently focusing on those BaaS opportunities, Amit Parikh, executive vice […].
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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
JUNE 14, 2022
US-based Scrypt , a payables automation provider, has joined Visa’s Fintech Fast Track program, speeding up the process of integrating with Visa.
The Paypers
JUNE 14, 2022
MoneyGram has rolled out a service allowing users to buy cryptocurrency using cash, as well as letting them withdraw their crypto holdings in cash.
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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
JUNE 14, 2022
Brazil-based fintech Remessa Online has chosen Modulr and Ripple to supercharge its cross-border payments from Brazil intro the UK and Europe.
The Paypers
JUNE 14, 2022
Equifax , a UK-based credit reference agency, has partnered with fintech Paylink Solutions to automate its digital affordability solution using Open Banking data and APIs.
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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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