Preparing for the CBDC era
Payments Dive
NOVEMBER 9, 2022
Central bank digital currencies would allow for faster cross-border payments that would “help boost trade within the region and with the rest of the world,” an Equinix executive writes.
Wed.Nov 09, 2022
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CECL implementation: Survey shows where peers are as 2023 nears
Abrigo
NOVEMBER 9, 2022
Financial institutions work to meet Q1 2023 CECL deadline A CECL implementation survey by Abrigo found progress by financial instittuions is mixed ahead of the upcoming deadline. . You might also like this: "Beyond CECL: Stress testing, ALM, and financial planning" DOWNLOAD. Takeaway 1 10% of banks and credit unions have completed CECL adoption, according to Abrigo's CECL implementation survey.
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Jack Henry & Associates bucks slowdown trend
Payments Dive
NOVEMBER 9, 2022
Executives for the tech services provider asserted that their pipeline of new business remains healthy despite economic headwinds beating up the rest of the industry.
Will Bank Wealth Managers Miss the Golden Opportunity?
Gonzobanker
NOVEMBER 9, 2022
New approaches to talent and technology are needed to address changes in the wealth management business model. Wealth management and trust clients are some of the most lasting and profitable relationships a bank can attract, but the banking industry is simply missing the opportunity to realize these businesses’ vast strategic potential. As banks experience rate volatility and future increases in their costs of funds, businesses that drive noninterest income like trust and wealth management will
Digital Transformation: Accelerating ROI and Growth in Commercial Lending
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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
FIS targets $500M in cost cuts
Payments Dive
NOVEMBER 9, 2022
The digital payments company is aiming to cut costs by streamlining operations, reducing capital expenditures and pulling back on vendor contracts.
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ACI Worldwide fires CEO
Payments Dive
NOVEMBER 9, 2022
Odilon Almeida had served as the payments company’s president and CEO since March 2020 and will be succeeded temporarily by board chairman Thomas Warsop.
Columbia Bank Sells Branches to Ease Umpqua Merger
Banking Exchange
NOVEMBER 9, 2022
Bank to sell 10 sites across three states with the aim of appeasing regulators Compliance Feature Duties Management Mortgage/CRE M&A Mortgage Credit Bank Performance The Economy Community Banking Feature3.
Affirm curbs hiring amid economic uncertainty
Payments Dive
NOVEMBER 9, 2022
The buy now-pay later company is pulling back on adding talent in some areas, but plunging ahead in others and seeking out talent in lower-cost regions.
NYDFS Announces Updated Cybersecurity Regulation
CFPB Monitor
NOVEMBER 9, 2022
On November 9, 2022, New York Department of Financial Services (NYDFS) Superintendent Adrienne Harris announced that the NYDFS formally proposed an updated cybersecurity regulation. Although the updates had previously been released in draft form , the formal announcement commences the 60-day comment period. . The proposed regulations would create three different tiers of companies based on their size, operations, and nature of their businesses.
The State of Automation in Financial Services 2024 Report
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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
Bitesize: The pricing of credit risk
BankUnderground
NOVEMBER 9, 2022
Barbara Jankowiak, Natan Misak and Nicholas Vause. Both financial market participants and regulators have suggested that investor risk appetite has declined since the beginning of the year. This post presents some evidence from credit markets consistent with such developments, and offers two possible explanations. We build on analysis in an earlier post that looked at the relationship between credit default swap (CDS) premiums for insuring against potential losses due to the default of North Ame
FTSE 100 firms hand billions in dividend payouts to Qatar investors
TheGuardian
NOVEMBER 9, 2022
Critics say everyday UK consumer spending has funnelled billions to controversial World Cup host since 2010 Some of the UK’s largest listed companies including water and energy giants have handed almost £500m to Qatari state-owned investors this year, raising concerns that blue-chip company profits are supporting the controversial World Cup host. The dividend payouts are the result of the Gulf nation’s investments in a raft of FTSE 100 firms, including Barclays, Shell and utility firm Severn Tre
Open Lending’s cert volume declines QoQ
BankInovation
NOVEMBER 9, 2022
Automation fintech Open Lending’s certified loan volume decreased for the second consecutive quarter in Q3 following six quarters of growth. Total certified loans, or “certs,” decreased 5.3% sequentially and 14.5% year over year to 42,186, according to the fintech’s earnings presentation. Credit unions and banks accounted for 86% of certs while OEM certifications made up 14%.
Will CFPB’s New Data Sharing Rules Alter the Banking Landscape?
The Financial Brand
NOVEMBER 9, 2022
This article Will CFPB’s New Data Sharing Rules Alter the Banking Landscape? appeared first on The Financial Brand. The agency's rapid development of data sharing rules among banks, fintechs and other players will have major impact on banking's future. This article Will CFPB’s New Data Sharing Rules Alter the Banking Landscape? appeared first on The Financial Brand.
Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance
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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.
Transactions: Provenir taps Sekura for mobile fraud detection
BankInovation
NOVEMBER 9, 2022
Risk decisioning platform Provenir is collaborating with mobile data intelligence provider Sekura to enhance fraud protection in the financial services industry. The partnership gives Provenir’s clients — including buy-now-pay-later startup Zilch, Marcus by Goldman Sachs, and SoFi — access to a suite of identity verification, anti-fraud and online authentication services through global mobile operators via […].
BankiFi, MX partner on account connectivity for SMBs
BankInovation
NOVEMBER 9, 2022
Embedded finance platform BankiFi announced Tuesday that it is partnering with open banking fintech MX to provide data sharing and account connectivity for businesses within BankiFi’s platform. The partnership will allow small to medium-sized businesses (SMBs) to securely connect their external bank accounts in one place, Keith Riddle, chief executive of the Americas at BankiFi, […].
Why the CFPB's guidance on unfair practices will keep giving banks trouble
American Banker
NOVEMBER 9, 2022
Register Now: Sneak Peek Into Close Automation SkyStem Web Demo
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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.
Envestnet partnerships enhance digital and automation efforts
BankInovation
NOVEMBER 9, 2022
Wealth tech giant Envestnet continued its tech modernization efforts in the third quarter, boosted by new partnerships, product launches and footprint expansion plans. As the Berwyn, Pa.-based company grew, its revenue, users and ultimately expenses in Q3 all inched up year over year: Envestnet’s total revenue inched up 1% to $306.7 million; The tech company’s […].
OceanFirst and Partners Bancorp call off merger, blaming regulatory delays
American Banker
NOVEMBER 9, 2022
Four Ways Branch Self-Service Improves CX and Reduces Costs
The Financial Brand
NOVEMBER 9, 2022
This article Four Ways Branch Self-Service Improves CX and Reduces Costs appeared first on The Financial Brand. Financial institutions that want to add in-branch self-service options can see benefits and improve ROI even with incremental steps. This article Four Ways Branch Self-Service Improves CX and Reduces Costs appeared first on The Financial Brand.
Banks tighten lending standards — and prepare for even bigger pullback
American Banker
NOVEMBER 9, 2022
Top 10 Benefits of Automating Loan Modifications for Commercial Lenders
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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.
How to Move Beyond “Trusted Advisor” Lip Service to Get ALL of their Deposit Business [VIDEO]
The Emmerich Group
NOVEMBER 9, 2022
I believe people want to work with “the best.” When people truly trust you and you bring value that exceeds your additional pricing, people are willing to bring all their business to you and your bank. At that point, price has little relevance. They know that what you provide is worth the cost. That’s a. Continue Reading. The post How to Move Beyond “Trusted Advisor” Lip Service to Get ALL of their Deposit Business [VIDEO] appeared first on Emmerich Financial.
Finding the Disconnect With Young Account Holders
Digital Growth Institute
NOVEMBER 9, 2022
“What do we need to do as a financial institution? Banking? Yes, check. Loans? Check. Investments? Check. We do all of them, but it's not about making it better. It was about checking the box.” -Mart Vos. Mart Vos , the founder and CEO of Eko Investments , hears the same thing over and over about traditional banking brands. Young people say, “My parents banked there, but it doesn’t offer the products I want.”.
2024 Lending Outlook: Innovations and Evolutions in the Financial Sector
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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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