Payments Dive
MAY 16, 2022
The COVID-19 pandemic led U.S. consumers to change up their payment habits, but three long-term cash trends have mainly persisted, according to a Federal Reserve Bank report issued this month.
South State Correspondent
MAY 16, 2022
Looking for Clues. Treasuries are starting the week tentatively in the green as they await more Fed speak and a look at April retail sales and housing activity. With the rise in rates and, of course, inflation the market will be looking for any sign of buckling by consumers. As far as Fed speak, there will be at least 10 officials opining on policy during the week, including Chair Powell tomorrow afternoon.
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Payments Dive
MAY 16, 2022
"I’ve been disappointed to see how the payments industry is constantly looking for ways to profit off of small businesses in sneaky ways," says Copper CEO Dickson Chu.
CFPB Monitor
MAY 16, 2022
The CFPB recently issued its annual fair lending report covering its fair lending activity in 2021. . In the report’s discussion of its risk-based approach for prioritizing fair lending supervisory and enforcement activity, the CFPB indicates that much of its enforcement and supervision efforts were focused on advancing its priorities of advancing racial and economic equity and promoting economic recovery related to the COVID-19 pandemic.
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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
MAY 16, 2022
The No. 3 and No. 4 card companies, which also hold bank licenses, scored highly in customer satisfaction among online-only banks, J.D. Power found.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
BankInovation
MAY 16, 2022
Cybersecurity approaches in the U.K. and Europe provide learning opportunities for U.S. banks, despite major differences in regulatory and business structures. Following are three cybersecurity tactics that are working in the U.K. and Europe: 1. Mandatory multifactor Multifactor authentication (MFA) has been much maligned by banking customers for its clunkiness and relative inconvenience.
SWBC's LenderHub
MAY 16, 2022
Without a doubt, we are seeing a deceleration in the U.S. economy as the economic recovery from COVID-19 is all but complete. The unemployment rate is basically at its pre-pandemic level at 3.6% compared to 3.5% in February of 2020. Now, we enter the transition back to a more sustainable or normalized rate of growth.
BankInovation
MAY 16, 2022
When one doctor’s office switched to virtual office visits during the COVID-19 pandemic, nurses were given iPads and sent into private rooms to connect with patients over Zoom, then waited for the doctor to make his rounds to each iPad. While this example of an effort at digitization appears quaint, it exemplifies the perils of […].
CFPB Monitor
MAY 16, 2022
With ALI’s members poised to approve the new Restatement, providers need to understand the Restatement’s impact on their consumer agreements, particularly those entered into online. After reviewing the rationale for the new Restatement and ALI’s approach to developing the rules it contains, we look at the issues covered by each section, such as the rules that deal with assent to contract terms, change in terms, unconscionability, and deception.
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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
BankInovation
MAY 16, 2022
Jack Henry announced at the company's investor conference last week that it is integrating elements of its digital banking repertoire into its core solution set, including a conversation tool from the company's Banno Digital Platform that "goes beyond" artificial intelligence (AI)-based chatbots. Banno Conversations is a securely authenticated conversation solution that connects banks with their […].
CFPB Monitor
MAY 16, 2022
For a more detailed discussion of the new Restatement, we encourage you to also listen to the episode of the Consumer Finance Monitor Podcast released today with Ballard Spahr’s Alan Kaplinsky (who is on the ALI Board of Advisers to the new Restatement) and special guest Steven Weise from the ALI Council. The American Law Institute (“ALI”) is expected to approve the Restatement of the Law, Consumer Contracts (the “Restatement”) tomorrow, May 17, 2022 at ALI’s 2022 Annual Meeting in Washington, D
ABA Community Banking
MAY 16, 2022
The Community Development Financial Institutions Fund today opened its funding round for fiscal year 2022 funding for its small-dollar loan program. The post CDFI Fund Now Accepting Applications for Small-Dollar Lending Program Funds appeared first on ABA Banking Journal.
TheGuardian
MAY 16, 2022
After the crash of the ‘stablecoin’ sparked panic, could the fall of the wider crypto market lead to a more permanent economic crunch? $7.6bn of ‘stablecoin’ tether redeemed since start of crypto crisis The collapse of a multibillion-dollar cryptocurrency called terra has sparked a wave of “fear, uncertainty and doubt” across the sector, leading some, like Coinbase’s chief executive, Brian Armstrong, to suggest the industry is heading for another “crypto winter”.
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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.
CB Insights
MAY 16, 2022
Deel , a provider of remote employee management solutions, has raised $50M in an extended Series D. The round drew participation from Andreessen Horowitz, Emerson Collective, Spark Capital, and Y Combinator. the state of venture report. Download our free report to get the TL;DR on what you need to know about venture funding and trends in Q1 2022. First name.
The Paypers
MAY 16, 2022
Virtual reality platform Admix has closely worked with large brands, including McDonalds , Pepsi , Formula One , and others to buy and sell virtual real estate.
CB Insights
MAY 16, 2022
Evisort , a contract management solutions provider, has raised $100M in a mix of debt and equity. The Series C round drew participation from Technology Crossover Ventures, Amity Ventures, Vertex Ventures, and Breyer Capital, among others. Debt financing was provided by undisclosed investors. the state of venture report. Download our free report to get the TL;DR on what you need to know about venture funding and trends in Q1 2022.
The Paypers
MAY 16, 2022
Canada-based cloud payment platform letus has teamed with identity services company Trust Stamp to provide transaction security for renters and landlords.
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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.
Bankelele
MAY 16, 2022
A few weeks before Kenya’s August 2022 general election, Parliament is to debate and pass the Finance Bill which was published in April. Some measures it proposed will become effective in July 2022 and others in January 2023. The tax proposals are to meet the country’s 2002/23 budget with a planned expenditure of Kshs 3.4 […].
The Paypers
MAY 16, 2022
Romania-based online micro-factoring fintech Instant Factoring and Romanian universal bank TechVentures Bank have partnered to support SMEs.
The Paypers
MAY 16, 2022
US-based global digital identity provider, ForgeRock , has introduced its latest AI-based solution to prevent identity fraud and cyberattacks, ForgeRock Autonomous Access.
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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
MAY 16, 2022
Singapore-based online travel platform Agoda has partnered with Visa to offer credit card instalments across its booking platform.
The Paypers
MAY 16, 2022
Pakistan-based Bank of Punjab (BOP) has announced it will issue Mastercard debit and credit cards to its 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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