Thu.Mar 17, 2022

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Fewer taxpayers plan to pay the IRS by check

Payments Dive

The share of consumers planning to use mobile phones to pay their taxes increased over last year, while the portion preferring to pay by check declined, according to a survey from payments firm ACI Worldwide.

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Can We Handle Monetary Policy Normalization Without a Recession?

SWBC's LenderHub

At Wednesday’s Post-FOMC press conference, Chairman Jerome Powell made the following statement: “As I looked around the table at today’s meeting, I saw a committee that’s acutely aware of the need to return the economy to price stability and determined to use our tools to do exactly that. The American economy is very strong and well-positioned to handle tighter monetary policy.”.

Policies 148
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Podcast: Step-by-Step IT Transformation at a Community Bank

ABA Community Banking

At a community bank with limited staff and resources, tech transformation is all about setting priorities. The post Podcast: Step-by-Step IT Transformation at a Community Bank appeared first on ABA Banking Journal.

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5 Sure-Shot Ways to End Up with More Cash After Retirement

BankBazaar

Put the money you earn to work for you. Invest smartly with discipline and say hello to an easier retirement. In a world of hyper-targeted marketing, it is really tough not to spend money on things that you don’t need. Although we earn so that we can give shape to our aspirations and wants, there are a few important things that need to be kept in mind when it comes to money.

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Elevating Accounting Practices: The Power of Outsourcing and Automation in the Digital Age

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

Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.

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Listen: 30% of community banks adding crypto services in next 18 months

BankInovation

A growing number of community banks are considering adding cryptocurrency services, and it could give them an edge in the battle for digital customers. Thirty percent of community banks expect to add crypto to their offerings during the next 18 months, according to a report by financial consultancy Wipfli. Crypto gives community banks an edge […].

More Trending

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IBM Watson Assistant-powered chatbot automates TD Bank digital store

BankInovation

An agile approach allowed TD Bank and IBM to roll out a specialized artificial intelligence (AI)-powered virtual assistant in mere weeks. Both IBM and the $1.4 trillion Canadian bank deploy an agile model that delivers in iterations, Daniel Cascone, financial services sector leader for IBM Canada, told Bank Automation News. That allowed a fast rollout […].

Retail 98
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CFPB updates examination manual to use UDAAP authority to target discriminatory practices, including those involving non-credit products or services

CFPB Monitor

Consistent with expectations that the CFPB under Director Chopra’s leadership would take an expansive view of its statutory authorities, the CFPB has announced its intention to use its authority to prohibit unfair, deceptive, or abusive acts or practices (UDAAPs) to target discriminatory conduct, even where fair lending laws may not apply. Specifically, the CFPB is directing its examiners to apply the Consumer Financial Protection Act’s unfairness standard to conduct considered to be discriminat

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RiskAvert enriched with new capabilities for NPE and IRRBB ahead of final regulatory announcement

Bobsguide

Profile Software , an international financial solutions provider, announced today the enrichment of RiskAvert with new capabilities like the introduction of the NPE Prudential Backstop and the Interest Rate Risk in the Banking Book (IRRBB) modules. In particular, RiskAver t the comprehensive risk management platform for capital adequacy, was enhanced to incorporate the NPE Prudential Backstop module that enables Financial Institutions to meet regulatory requirements for the calculation and repor

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This week’s podcast: A close look at lead generation and the compliance risks for lead generators and lead buyers

CFPB Monitor

We discuss how lead generation works, the roles of the various players in the lead generation marketplace, the key regulatory risks arising under the Fair Credit Reporting Act, Telephone Consumer Protection Act, and Telemarketing Sales Rule, FTC enforcement cases, and CFPB supervisory concerns. We also discuss the impact of the Real Estate Settlement Procedures Act’s referral fee prohibition and fair lending/fair housing laws on lead generation involving mortgage-related services and state lice

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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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What happens when a major economy can’t pay its debts in dollars? Russia is about to show us | Adam Tooze

TheGuardian

The problem for Putin’s regime is political rather than financial – that’s why this would be no ordinary default As of Wednesday Russia has been scheduled to pay investors holding two dollar-denominated government bonds $117m in interest payments. It will likely make the payments, but probably in roubles rather than dollars. Some of Russia’s debt contracts permit such an arrangement; the two bonds in question do not.

US 76
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Mollie launches Connect for Platforms for SaaS expansion across Europe

The Paypers

Netherlands-based payment service provider Mollie has rolled out Connect for Platform for online SaaS and marketplace platforms to integrate payment services.

Online 74
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Butler to the World by Oliver Bullough review – an oligarch’s paradise

TheGuardian

A timely exposé of the UK’s post-war wealth industry I t is hard to imagine a more timely book than Oliver Bullough ’s damning account of Britain’s role in facilitating oligarchs and criminals in their acquisition of billions of pounds’ worth of ill-gotten gains. The UK’s bankers, lawyers and wealth managers have become so reliant on Russia’s dirty money that, in the aftermath of the invasion of Ukraine, it is proving politically and economically painful to cut the umbilical cords channelling ca

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On-demand pay app Branch raises $75M from Lee Fixel’s Addition. Branch competitors in the hyper-competitive instant workforce payments market include SteadyPay, Even, Wagestream, Instant Financial, Gig Wage, Panther, DailyPay, and PayActiv.

CB Insights

Branch , an on-demand pay app, has raised $75M in a Series C. The round drew participation from Addition, General Atlantic, Drive Capital, Indeed, CrossCut Ventures, and other undisclosed investors. <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 cla

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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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Mibanco Expands Microlending, Helps Customers During Pandemic

FICO

Loans That Improve Lives. Mibanco, the largest microfinance bank in both Peru and Latin America, has used FICO Platform’s Decisions Capability to boost its lending capacity and respond quickly to changing market conditions during the pandemic. The transformational project has reduced the time taken to put policy into production by 90 percent and cut annual IT development expenditure by 20 percent, allowing Mibanco to better serve thousands of its customers. .

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Adnovum and BearingPoint partner on fintech solutions for banks

The Paypers

Netherlands-based management and technology consultancy company BearingPoint and Switzerland-based software company Adnovum have entered an open partnership in order to offer banks fintech solutions.

Fintech 50
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State of Fintech 2021: Insurtech

CB Insights

Insurtech funding, deals, unicorn births, and exits all hit record highs in 2021. <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 center-copy "><h4>FREE DOWNLOAD: STATE OF FINTECH 2021</h4> <p>Th

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Fiskl launches API-driven accounting

The Paypers

Fiskl , a mobile-first financial management solution for small businesses, has launched an API-driven accounting on its platform.

Mobile 60
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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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Cross Sales Part 3 of 3

The Emmerich Group

The last two times we connected, we’ve been talking about the need to improve the cross-sales within your bank to create a better sales experience for your people. And to make sure that you capture the entire customer relationship by creating a transformation of the process that attracts the customers to you. Good Intentions Aren’t. Continue Reading.

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Ondato partners with STEX

The Paypers

Crypto exchange STEX has partnered with Know Your Customer (KYC) and Anti-Money Laundering (AML) platform Ondato.

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Cross Sales Part 2 of 3

The Emmerich Group

The last time we met, I told you we’d be coming back this time to discuss: how do you boost those cross-sales and how to do it by having a cultural transformation within your organization. Because that change in your culture and improvement in your bank’s culture is key to transforming results by making sure. Continue Reading. The post Cross Sales Part 2 of 3 appeared first on Roxanne Emmerich.

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USAA fined $140 million over ‘willful’ Bank Secrecy Act lapses

American Banker

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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.

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Mastering Team Selling at Your Bank

The Emmerich Group

When I started as a lender, I got a briefcase, got in my car, and went up and down the street calling on folks hoping that they would bring their commercial and agricultural relationships to me. Well, sometimes they did, and sometimes they didn’t. I thought I was doing the best thing possible because I. Continue Reading. The post Mastering Team Selling at Your Bank appeared first on Roxanne Emmerich.

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Truist names new head of retail banking and marketing

American Banker

Retail 81
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Does Your Bank Have The Right Fundamental Sales Skills?

The Emmerich Group

I wonder what the sales fundamentals are of banks that command premium pricing and achieve their loan growth goals. Are they different from other banks? You see, what we put into a system creates the outputs we pull out of that system. And sadly, many banks aren’t achieving their loan growth goals with the loan. Continue Reading. The post Does Your Bank Have The Right Fundamental Sales Skills?

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Allied Payment Network teams with Bankjoy to offer digital payment tools

The Paypers

US-based mobile banking provider Bankjoy has integrated Allied Payment Network 's digital money movement product into its banking offerings.

Tools 39
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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.