Perficient
JUNE 1, 2023
As the financial services industry continues to evolve, companies are looking for ways to stay ahead of the competition and increase their market share. One way to do this is by leveraging the power of generative AI. Generative AI is an advanced form of artificial intelligence that can create content from scratch, taking the burden off of manual labor and allowing companies to focus on their core business.
Payments Dive
JUNE 1, 2023
The tech behemoth is adding features that will let consumers stuff more information, such as healthcare insurance credentials and state IDs, into its digital wallet.
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Accenture
JUNE 1, 2023
Is it just me or does it seem like everything’s happening at warp speed this year? New tools and technologies are coming online every day, prompting some unexpected conversations around my dinner table—about how our lives might change as we incorporate these new tools into our day-to-day personal and professional activities. Everyone I know is… The post Discover 3 top trends for Specialty Finance in 2023 appeared first on Accenture Banking Blog.
Payments Dive
JUNE 1, 2023
The multi-year partnership allows Worldpay’s merchant clients to integrate Affirm’s BNPL options at checkout.
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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
Gonzobanker
JUNE 1, 2023
A recent Gallup survey notes 48% of Americans are worried about the safety of their money in banks. How worried are bank boards? So Gonzo Bankers, are you feeling like the worst of the banking chaos is behind you, or are you peering around the corner like you’re in a classic horror-movie scene? Lately, it feels like a “B” movie where the villain has just been slain and you’ve let your guard down only to have the villain open their eyes!
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
BankUnderground
JUNE 1, 2023
Sangyup Choi, Tim Willems and Seung Yong Yoo How does monetary policy really affect the real economy? What kinds of firms or industries are more sensitive to changes in the stance of monetary policy, and through which exact channels? Despite advances in our understanding of the monetary transmission mechanism, existing studies have not reached a consensus regarding the exact mechanics of transmission.
Payments Dive
JUNE 1, 2023
The company also appointed two new board members as it seeks to capitalize on rising A2A payments demand.
BankInovation
JUNE 1, 2023
The arrival of ChatGPT and similar products has reignited a decades long debate about whether advanced automation, supported by artificial intelligence, will usher in the “end of work,” leading to mass layoffs as businesses replace humans with machines. The artificial intelligence (AI) hype cycle has been building since the 1970s.
CFPB Monitor
JUNE 1, 2023
We are pleased to report that Ballard Spahr’s Consumer Financial Services Group has once again received the highest national ranking from Chambers USA: America’s Leading Lawyers for Business. The Group was ranked in the highest tier nationally in the Compliance category of Financial Services Regulation: Consumer Finance. The Group was also ranked nationally in the categories of Litigation and Enforcement & Investigations.
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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
SWBC's LenderHub
JUNE 1, 2023
Everything happening in our economy today hinges on inflation. If inflation continues to fall quickly, robustly, and smoothly, we can expect the U.S. economy to rebound well. Consider it a softish landing, as the Fed continues to work on lowering inflation rates by raising interest rates. But if inflation refuses to come down as quickly as economists would like, that may put pressure on the Fed to continue raising rates—and keep them elevated longer.
CFPB Monitor
JUNE 1, 2023
At the end of March 2023, the CFPB issued its long-awaited final rule to implement Section 1071 of the Dodd-Frank Act. Section 1071 amended the Equal Credit Opportunity Act to require financial institutions to collect and report certain data in connection with credit applications made by small businesses, including women- or minority-owned small businesses. .
American Banker
JUNE 1, 2023
The search giant is adding travel, health care and other consumer services to encourage users to stay within its ecosystem.
CFPB Monitor
JUNE 1, 2023
The CFPB has issued a data spotlight that shows bank overdraft/non-sufficient funds (NSF) fee revenues have declined significantly from their pre-pandemic levels. The report states: Overdraft/NSF revenue for the fourth quarter of 2022 alone was approximately $1.5 billion lower than in the fourth quarter of 2019 – a decrease of 48% compared to before the pandemic, suggesting an annual reduction of over $5.5 billion going forward. .
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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.
American Banker
JUNE 1, 2023
When the once-ubiquitous interest rate goes away at the end of June, some businesses that have older loans may see a sudden jump in their payments. Banks, lawyers and business leaders are doing last-minute work to avoid that scenario.
TheGuardian
JUNE 1, 2023
Building societies offer rates over 7% – but deals have strings attached and are limited to existing members A new savings account has been launched that pays an inflation-beating 9% interest – hours after a rival institution unveiled an account paying 7.5%. The Bank of England’s 12 interest rate rises in a row have spelled pain for millions of people with existing mortgages and those looking to take one out, but the flipside is that savers are now being offered some of the highest rates for mor
American Banker
JUNE 1, 2023
An activist investor blasted the appointment of Andrew Cohen, saying he has long served on the Philadelphia bank's board and shares responsibility for its financial troubles.
FICO
JUNE 1, 2023
Home Blog Feed test Artificial Intelligence: From Hollywood to the Mainstream Artificial intelligence has gone from Hollywood concept to an everyday fact. This post explores applications and considerations for AI in financial services. Thu, 06/01/2023 - 09:03 Saxon Shirley by TJ Horan Vice President, Product Management expand_less Back to top Thu, 06/01/2023 - 09:00 Up until just a few years ago, artificial intelligence (AI) was something you mainly heard about in movies like 2001: A Space Odyss
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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.
American Banker
JUNE 1, 2023
The Federal Reserve Board and California Department of Financial Protection and Innovation want to ensure the shuttered bank makes good on its commitment to self-liquidate and make depositors whole. It also wants full cooperation on an investigation into FTX ties.
The Banker
JUNE 1, 2023
Bank runs will always happen, but there are ways lenders can limit the damage, writes Etay Katz.
American Banker
JUNE 1, 2023
The banking crisis set in motion by the failure of three banks has the industry focusing once more on how to avoid the same scenario.
Bussman Advisory
JUNE 1, 2023
Join our community of 50,000+ subscribers and stay informed on the latest trends and news in the FinTech & AI world with the weekly newsletter provided by Bussmann Advisory. Gain insights into disruptive technologies, industry updates, and success stories from our portfolio companies. This week’s must-know stories: 1. Why Apple’s VR headset could succeed where every similar product has failed 2.
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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.
BankInovation
JUNE 1, 2023
BNY Mellon looks to startups to address internal and client-facing technology challenges throughout the bank. The $31.9 million bank communicates with executives and clients to identify areas of friction, Zakie Twainy, digital partnerships and enterprise innovation at BNY Mellon, said at the recent Finovate Spring 2023 event in San Francisco.
FICO
JUNE 1, 2023
Home Blog Feed test US Bankcards Industry Benchmarking Trends: 2023 Q1 Update Bankcard delinquencies exceed pre-pandemic levels, higher losses are forecasted ahead Sat, 05/20/2023 - 09:58 Saxon Shirley by Leanne Marshall expand_less Back to top Thu, 06/01/2023 - 15:00 FICO releases quarterly United States Bankcard Industry Benchmarking trends, to catch up on the last quarter click here. 2023 started off with unexpected growth, mild recession still predicted this year Reviewing earlier forecasts,
BankInovation
JUNE 1, 2023
US companies have announced more job cuts this year than during all of 2022, according to executive coaching firm Challenger, Gray & Christmas Inc. Planned layoffs reached about 417,500 jobs through May, more than four times the job cuts during the same period last year, Challenger said in a report.
American Banker
JUNE 1, 2023
The ill-conceived proposed rule would increase costs for a significant majority of credit card customers.
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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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