Payments Dive
OCTOBER 4, 2022
In a 6-1 vote, the Federal Reserve finalized a debit card processing rule that underscores a requirement that multiple card networks be available for routing transactions, including online.
Accenture
OCTOBER 4, 2022
There have been impressive technological advances in banking systems in recent years. But banks can’t just purchase new software and expect it to magically improve their business—the product is only the beginning. Careful implementation and a culture of innovation and true transformation are needed to make the most of any investment in replaced or upgraded….
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Payments Dive
OCTOBER 4, 2022
The senator pushed to bolster a key CFPB rule after releasing a report tallying claims of fraud and scams on the P2P platform submitted by Truist, PNC, U.S. Bank and Bank of America.
Abrigo
OCTOBER 4, 2022
Financial institutions must plan to take advantage of rising rates. Several factors make this rising-rate environment different, so strong asset/liability management is critical for increased earnings. You might also like this checklist, "6 Reasons to update your core deposit analysis." DOWNLOAD . Takeaway 1 Banks and credit unions can increase earnings in a rising-rate environment with careful asset/liability management.
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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
OCTOBER 4, 2022
The payments processor’s new Carat point-of-sale offering aims to help big businesses optimize transaction data.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Dive
OCTOBER 4, 2022
The federal panel said more oversight of stablecoins and crypto spot markets for tokens is needed. It also recommended rules that would help prevent regulatory arbitrage in the sector.
CFPB Monitor
OCTOBER 4, 2022
The Justice Department announced that it has entered into an agreement with Lakeland Bank to settle the DOJ’s claims that Lakeland engaged in unlawful redlining in the Newark, New Jersey metropolitan area. The DOJ’s lawsuit against Lakeland, filed in a New Jersey federal district court, is part of the DOJ’s nationwide “ Combating Redlining Initiative ” launched in October 2021.
Payments Dive
OCTOBER 4, 2022
In recent public comments, Federal Reserve Gov. Michelle Bowman diverged from the views of her colleague Michael Barr on certain topics, including crypto policies.
CFPB Monitor
OCTOBER 4, 2022
Last week, the CFPB issued a “ Student Loan Servicing Special Edition ” of Supervisory Highlights. In this blog post, we highlight a stealth expansion of supervisory jurisdiction and focus on the CFPB’s findings in two key areas: Transcript withholding policies at institutional lenders (e.g. for-profit colleges that make private loans directly to student); and Administration by servicers of Public Service Loan Forgiveness (PSLF), Income-Driven Repayment (IDR), and Teacher Loan Forgiveness (TLF)
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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
Cisco
OCTOBER 4, 2022
The Federal Financial Institutions Evaluation Council (FFIEC) is a governmental body that provides interagency regulatory guidance for financial institutions. This provides a consistent framework for different regulatory bodies, and applies to the OCC, Federal Reserve, CSRB, and others. In June 2021, following large cyber attacks on the United States and the resulting Executive order on Cyber security, the FFIEC released the largest update in guidance in over a decade to help financial auditors
BankInovation
OCTOBER 4, 2022
TD Asset Management (TDAM) and cloud infrastructure platform Beacon announced a new partnership today to build new capabilities and scale existing workflows for TD Bank’s $398 billion investment arm. New York City-based Beacon implements its cloud-native and cloud-agnostic platform for financial institutions, saving them from hiring tech talent to build and maintain in-house platforms, Beacon […].
TheGuardian
OCTOBER 4, 2022
Government’s 45p tax U-turn and calmer stock markets do not result in cheaper new mortgage deals The average rate on a two-year fixed mortgage has jumped to just under 6%, according to data released on Tuesday, dashing hopes that UK government efforts to calm the financial markets might ease the cost of home loans. Amid warnings from brokers that 95% mortgages could be the next casualty of the financial uncertainty triggered by Kwasi Kwarteng’s mini-budget, research firm Moneyfacts said the aver
ABA Community Banking
OCTOBER 4, 2022
Dan Robb, ABA’s 2022-23 chair, shares his infectious enthusiasm for banking and community. The post Dan Robb’s dream team appeared first on ABA Banking Journal.
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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.
CFPB Monitor
OCTOBER 4, 2022
On September 28, 2022, the Department of Justice (”DOJ”) announced a settlement with Westlake Financial Services (“Westlake”), a Los Angeles-based indirect auto finance company specializing in subprime and near-subprime loans, resolving allegations that Westlake failed to fully provide interest rate benefits to eligible servicemembers as required under the Servicemembers Civil Relief Act (“SCRA”).
Jack Henry
OCTOBER 4, 2022
Earlier this month, over 3,700 Jack Henry™ Connect attendees took over the Gaslamp District and Convention Center in downtown San Diego to celebrate a conference like no other – and to say the vibe was electrifying would be an understatement. For the first time ever, we brought our bank and credit union clients together at one conference as an extension of our commitment to strengthening connections!
ATM Marketplace
OCTOBER 4, 2022
Bank branches are evolving in a myriad of ways. Here are three trends to watch.
William Mills
OCTOBER 4, 2022
The moments that have caused a huge splash in our culture in this decade include the COVID-19 lockdown, the retiring of sports greats, the summer and winter Olympics and the rise of BeReal and TikTok. These instances have led to the practice of trend-jacking, when your brand, led by savvy marketing and PR teams, rapidly create s content connecting to current news and trends.
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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.
Bobsguide
OCTOBER 4, 2022
85% of professionals at financial institutions agree: open finance is already making the financial services industry more collaborative and is having a positive impact. London, UK – October 3, 2022 – Finastra today revealed a sneak peek at its annual State of the Nation Financial Services research. Results point to the significant progress the industry has made around open finance and collaboration, despite the challenging market conditions of the last few years.
CB Insights
OCTOBER 4, 2022
We mined Yardstiq ’s interviews with software buyers to understand the decision criteria they use when evaluating spend management & corporate cards solutions. . Download the buyer’s guide to see our overview of this software category and the questions you should be asking to evaluate solutions, from pricing to integration. Buyers interviewed for this report include: .
BankInovation
OCTOBER 4, 2022
Studio Bank, a digital bank in Nashville, has implemented a credit card program to offer new payment solutions through fintech Corserv’s Account Issuer program. Corserv’s integration process uses an Agile methodology to develop Java software components accessed through RESTful Webservice APIs. This minimized the work for the $800 million Studio Bank, allowing the bank to add […].
PopularBank
OCTOBER 4, 2022
An unauthorized debit card transaction can be an early signal that you’re the victim of debit card fraud. In 2021, The Federal Trade Commission reported nearly 69,000 cases of consumer-reported debit card fraud in the U.S. If you notice any suspicious activity on your debit card, it’s critical you take immediate action to protect your money. Here are four steps you should take to safeguard yourself from unauthorized debit card transactions: 1.
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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.
ABA Community Banking
OCTOBER 4, 2022
In his first speech as ABA chair today, Dan Robb emphasized the importance of advocacy for bankers at all levels. The post Robb emphasizes engagement, positive attitude to tackle banking challenges appeared first on ABA Banking Journal.
BankInovation
OCTOBER 4, 2022
As new and disruptive technologies blur the lines of competition between traditional banking, big tech, and fintech in an industry that shows no mercy to those slow to embrace change, it’s time to put legacy assumptions on the table. It’s time to modernize technology to disrupt the disruption. And that starts by putting people first. […].
ABA Community Banking
OCTOBER 4, 2022
The ABA Foundation yesterday honored seven banks for outstanding commitment to their communities. The post ABA Foundation honors Community Commitment Award winners appeared first on ABA Banking Journal.
BankInovation
OCTOBER 4, 2022
Financial institutions can avoid becoming the next victim of a costly cyberattack by leveraging automation and existing legislation. Automation can help to mitigate risk when handling personal client information by storing records efficiently and securely, Kayne McGladrey, senior member of professional association for electronics engineers IEEE and field chief information security officer at Hyperproof, told […].
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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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