Perficient
APRIL 25, 2022
In our previous blogs , we’ve documented how insurance is a complicated product for the traditional commerce process. Let’s recap what we’ve covered: It’s a product that is mandated by the state, financial institutions, and professions for many parts of life – driving, homeownership, rental, professional liability, and others. But it’s not a product that most of us enjoy shopping for in our daily lives.
Payments Dive
APRIL 25, 2022
Banks have long complained that fintechs are able to offer many of the same financial services without abiding by the same laws. In an effort to level the playing field, the Consumer Financial Protection Bureau said Monday it would invoke a largely unused legal provision.
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Accenture
APRIL 25, 2022
The last two years have changed how banks are approaching their digital journeys. That’s why I wanted to write about this topic, and why I asked my colleague Danelle Faust to join me as co-author. She leads our financial services business within Accenture Interactive across the Midwest, helping organizations improve customer experiences. The pandemic pushed….
Payments Dive
APRIL 25, 2022
American Express results benefited from a return of travel during the first quarter and future bookings are up relative to 2019, the company said. Analysts expect increased travel to be a boon for the other card companies too when they report earnings later this week.
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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
Accenture
APRIL 25, 2022
“Learn from the mistakes of others. You can never live long enough to make them all yourself.” – Groucho Marx “Sometimes, when you innovate, you make mistakes. It is best to admit them quickly, and get on with improving your other innovations.” — Steve Jobs One way to define innovation is as a journey into…. The post 4 powerful payments insights from recent fintech news appeared first on Accenture Banking Blog.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
CFPB Monitor
APRIL 25, 2022
The CFPB has issued its annual Fair Debt Collection Practices Act report covering the CFPB’s debt collection activities in 2021. The report incorporates information from the FTC’s most recent annual letter to the CFPB describing its 2021 activities in the debt collection market, including information about the FTC’s enforcement actions involving collection practices directed at small businesses.
SWBC's LenderHub
APRIL 25, 2022
Last Week. For the second straight week, the financial markets took hits from all directions. There was literally no place to hide.
CFPB Monitor
APRIL 25, 2022
In Theresa Tailford, et al. v. Experian Information Solutions , the U.S. Court of Appeals for the Ninth Circuit recently affirmed a district court decision which held that Experian Information Solutions, Inc. did not violate the Fair Credit Reporting Act because none of the information the plaintiffs alleged Experian should have disclosed was subject to disclosure by a consumer reporting agency (CRA) under the FCRA.
BankInovation
APRIL 25, 2022
On Wall Street, Jefferies Financial Group is expanding banking services for crypto clients, BlackRock Inc. is backing a stablecoin firm while Goldman Sachs Group Inc. is ramping up crypto trading. There’s even a former bank executive who switched his LinkedIn profile — to an avatar. The moves by financial heavyweights — and one banker’s profile […].
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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
CFPB Monitor
APRIL 25, 2022
Utah and Virginia recently became the first two states to require the registration of providers of merchant cash advances. The new laws also include disclosure requirements. (Although laws requiring disclosures for merchant cash advances already exist in California and New York , those laws have not yet become effective.). Utah. Signed into law on March 24, 2022, the Commercial Financing Registration and Disclosure Act (CFRDA) provides that beginning January 1, 2023, it is unlawful for a pers
BankInovation
APRIL 25, 2022
Over the past few years, financial institutions have become seemingly obsessed with system modernization and digitization, as they partner with cloud and core banking system (CBS) providers. Banks swore by their CBSs for decades. Until recently, the finesse of banking software was largely defined by how well it could handle a high volume of transactions […].
CFPB Monitor
APRIL 25, 2022
The Office of the Comptroller of the Currency entered into a Consent Order with Anchorage Digital Bank (“Anchorage”), which requires Anchorage to create a compliance committee and take steps to remediate alleged shortcomings with respect to the implementation and effectiveness of Anchorage’s Bank Secrecy Act/Anti-Money Laundering (“BSA/AML”) program.
BankInovation
APRIL 25, 2022
Big banks and regional financial institutions released their first-quarter earnings this month, showing sizable increases in tech spend and significant returns on investment. Tech spend trends upward Tech spending was up across the board for most of the nation’s big banks. The $3.24 trillion Bank of America’s tech spend grew to $1.54 billion in Q1, […].
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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.
ABA Community Banking
APRIL 25, 2022
Advancing women’s leadership in financial services is not just a job for women. It’s a job for all of us, including male CEOs like Zions' Scott Anderson. The post Advancing women in banking leadership is everyone’s business appeared first on ABA Banking Journal.
SWBC's LenderHub
APRIL 25, 2022
As we enter into Q2 2022, the already strong used vehicle market is expected to heat up.
The Paypers
APRIL 25, 2022
Card issuer Chase has extended its partnership with delivery company DoorDash and Lyft , meaning its cardholders can continue to earn bonus points from ridesharing and deliveries.
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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 Banker
APRIL 25, 2022
Taking a hybrid approach — using both cloud and colocation service providers — will help retail banks grow, develop new processes and offer hyper-personalised services to customers.
The Paypers
APRIL 25, 2022
Standard Chartered Hong Kong (SCBHK) has partnered with The Sandbox , a decentralised gaming virtual world, to create metaverse experiences for its clients and community.
The Paypers
APRIL 25, 2022
Pindrop , a provider of voice technology, has released its annual Voice Intelligence & Security Report uncovering how companies might be accidentally inviting fraud, threat mongers from the dark web, and bad actors better prepared to pass authentication.
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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
APRIL 25, 2022
US-based FX network Bonifii and identity authentication provider Entersekt have partnered to bring authentication technology to credit unions through MemberPass Express, powered by Entersekt.
The Paypers
APRIL 25, 2022
Singtel , aiming to support sustainability and the digitalisation of the financial ecosystem, has announced a partnership with UOB and ADDX on a USD 100 million foreign currency digital bond in Singapore.
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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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