Thu.May 09, 2024

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Here Is the Latest Credit Data To Keep Your Bank Safe

South State Correspondent

As the risk of a recession gets pushed out by the market, so does the risk of credit. This is not to say bank credit is without risk, as higher rates, inflation, and a slowing economy have taken their toll. Three essential credit metrics – probabilities of default (POD), POD rate of change, and POD volatility- materially increased from 2023. In this article, we look at what is happening at the state level, at 30 common industries where credit risk is rising, and at 30 industries where credit ris

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Jack Henry, Visa see escalating FedNow volume

Payments Dive

While the Federal Reserve won’t specify payments volume on the new instant system, executives from certified service providers Visa and Jack Henry said they’re seeing an increase.

System 417
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What is the ROI of a Banking Conference?

Jeff For Banks

Are conferences more than a vacation? Last week I attended two back-to-back banking conferences and it was apparent that attendance was down. This is the likely reaction to banks' profit challenges resulting from net interest margin pressures that are due to slowly repricing loans accompanied by ever faster repricing deposits. Let's tighten our belts to offset revenue decline.

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Visa announces generative AI-powered fraud solution

The Paypers

Visa has launched Visa Account Attack Intelligence (VAAI) to combat card testing attacks, reducing fraud and operational losses in real-time for US issuers.

Fraud 93
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Live Demo: How to Achieve Reconciliation Zen

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

Automation generally supercharges any process and brings its value to the forefront. See how infusing automation such as ART (our month-end close solution), into your close can get you to the next level of closing. We will share a live demo of SkyStem's solution, ART and share the key elements of month-end close automation. Through ART, we'll take a look at: What month-end close automation entails Which process steps can and should be automated Benefits of achieving process automation, and Why i

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Banks positioned for M&A wave following Q1

BankInovation

Financial institutions that think about efficiency and growth when considering tech spend can respond quickly to merger and acquisition opportunities, Danny Baker, vice president of market strategy at technology provider Fiserv, told Bank Automation News. “Successful banks, when they think about their technology investment, they don’t think about efficiency from a penny-pinching [perspective],” he said.

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Robinhood automated deposits up 100% QoQ

BankInovation

Investing platform Robinhood added more than $3.4 billion through its automated customer account transfer service in the first quarter, up 100% quarter over quarter.

Meeting 59
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Does AI increase cloud computing risks?

American Banker

Banks are turning to the same hyperscalers for cloud computing and generative AI. Some wonder what the consequences will be down the road.

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Jack Henry to launch cloud-native solutions

BankInovation

Jack Henry invested in automation technology, grew its client base and explored AI during its fiscal third quarter, which ended March 31. The tech provider is working on a cloud-native online deposit and loan account opening solution, Chief Operating Officer and incoming Chief Executive Gregory Adelson said during Jack Henry’s May 8 earnings call.

Online 54
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Customer satisfaction falls at digital banks, J.D. Power says

American Banker

Depositors are still flocking to online-only banking platforms offered by companies such as Ally, Capital One and Discover. But overall customer satisfaction took a "statistically significant" drop, according to a new J.D. Power report.

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New York Lien Law Essentials: 5 Key Facts for Commercial Lenders

Dive into the complexities of New York lien laws with our comprehensive eBook, 'New York Lien Law Essentials: 5 Key Facts for Commercial Lenders.' In this detailed guide, we explore the critical formalities necessary for lenders navigating ground-up construction and fix-and-flip projects in the New York market. From documentation requirements to the implications of non-compliance, learn how to safeguard your lending position and prioritize legal adherence.

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BBVA charges forward with hostile bid for Sabadell | US banks explore multi-asset settlement using DLT | JP Morgan taps Visa for faster payments

Bussman Advisory

This week’s must-know stories in the FinTech, AI and Digital Asset space. The latest edition of the FinTech Ecosystem Newsletter is here: Image Credits: shutterstock.com The post BBVA charges forward with hostile bid for Sabadell | US banks explore multi-asset settlement using DLT | JP Morgan taps Visa for faster payments appeared first on Bussmann Advisory AG.

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Congress, not the Fed, is at fault for slashing interchange fees

American Banker

The central bank is merely an instrument of Congress when it comes to setting card interchange fees. Only by making lawmakers feel the heat will the industry see meaningful change.

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Monzo expands funding to USD 610 mln

The Paypers

UK-based digital bank Monzo has raised an additional USD 190 million, reaching USD 610 million in funding so far towards expansion and new products.

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Why some banks have decided now is the time to sell their Visa shares

American Banker

Many banks got shares in the lucrative payments network when it went public in 2008. Some of them are now looking to sell in order to offset losses on their sales of underwater bonds.

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Thinking About How To Lessen Your Burden During Month-End Close? Skystem Can Help!

Most people dread the nearing of the month-end close and reconciliation process, and who can blame them? It's typically a tedious, long, stressful process; but it doesn't have to be. Implementing automation into your month-end process can significantly reduce this headache by automating up to 40% of your reconciliation and saving nearly 30% of your time spent.

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Hedging tech company ALT21 joins Temenos Exchange

The Paypers

UK-based ALT21 has integrated its BankHedge solution with the Temenos banking platform to streamline FX hedging for banks and global multicurrency payments for SMEs.

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Fed report: Climate change could raise loan defaults for biggest banks

American Banker

The Federal Reserve Thursday released a report on its climate stress test pilot assessing the impact of climate change on big bank portfolios and found that loan defaults could increase as a result of climate events and shifts toward a lower carbon economy.

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United Arab Bank expands partnership with Network International

The Paypers

The United Arab Bank has announced the expansion of its partnership with Network International to include debit card processing within the Network One network.

Cards 45
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FTC vs. payment firms (and fees): What the regulator's watching

American Banker

The Federal Trade Commission recently blasted two companies for their murky business practices and confusing charges. Industry experts say many digital and recurring payments are inviting more regulatory scrutiny.

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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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The Script in our Head: Re-writing the Story of “Not Enough”

Realwired Appraisal Management Blog

For a long time, I’ve had thoughts of: “You’re not good enough. You’re not interesting enough. They’ll see through you eventually.” Many of us have these thoughts – persistent whispers in the back of our minds. The narratives we create about ourselves that shape our reality. These thoughts are wrong.

US 40
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House votes to nullify crypto custody guidance; Biden vows veto

American Banker

The House advanced a resolution that would roll back a Securities and Exchange Commission resolution that banks argue cuts them out of the crypto custodying business, but President Biden said he would veto it if it passes the Senate.

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Mastercard partners with The BENEFIT Company

The Paypers

Mastercard has announced its partnership with The BENEFIT Company in order to drive payment optimisation and financial inclusion in Bahrain.

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BBVA makes $12 billion hostile bid for Sabadell after snub

American Banker

Banco Bilbao Vizcaya Argentaria SA took its offer for Banco de Sabadell SA directly to shareholders, a rare hostile move that the Spanish government said it opposed on concerns over job cuts and reduced competition.

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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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O3 Capital partners with American Express for new cards in Nigeria

The Paypers

Nigeria-based fintech and non-bank credit card issuer O3 Capital has partnered with American Express to issue four new Amex credit cards in Nigeria.

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Barclays faces investor pressure to halt fracking finance

American Banker

A group of 24 institutional investors say a recent pledge by the British bank to restrict financing for companies that focus exclusively on fossil-fuel exploration and extraction doesn't go far enough.

Groups 36
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Thunes partners with Pomelo

The Paypers

Thunes has announced its partnership with Pomelo in order to launch a new credit-based digital wallet solution from the US to the Philippines.

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Senate deals death blow to Durbin II inclusion in FAA

American Banker

The next major chance the lawmakers could have on the so-called "swipe fee" legislation will come next year as Congress looks toward a tax package.

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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.