Jack Henry
OCTOBER 8, 2020
The secondary market for buying and selling loans was formed in the late 1800s as the mortgage market in the United States grew following the passing of the National Bank Act in 1864. This market traditionally has been operated using highly bespoke transaction agreements and a relationship-based system of market participants.
Perficient
OCTOBER 8, 2020
Whether you work in big tech or the service industry, you are retired or grudgingly buying your pre-teen their first smartphone, let’s face it, texting has become the most used communication tool in your daily life. SMS ( Short Message Service ), aka “Texting”, enables many to skip voice communication altogether and opt for the instant power at their fingertips.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Accenture
OCTOBER 8, 2020
Lately it seems like every conversation I have with middle market banks turns into a discussion about cloud. Leaders are increasingly worried about being left behind, and rightfully so. The hype is real. This market’s interest in cloud stems from what’s happening across banking. A full 95% of banks have adopted some form of public…. The post Middle market banks’ top three cloud myths appeared first on Accenture Banking Blog.
Perficient
OCTOBER 8, 2020
Over the past ten weeks, I have had the amazing opportunity to work as a marketing intern with the corporate communications team at Perficient. It has been a summer full of growth, learning, and laughs, and I have thoroughly enjoyed my time here. Building My Experience – And My Network! I am about to step into my senior year of high school, and I have been very involved in a variety of activities over the course of my high school career.
Advertisement
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
PYMNTS
OCTOBER 8, 2020
Ugandan police are investigating the hacking of a third-party processor of phone-based transactions, Bloomberg reported, that affected MTN Group and Standard Bank Group 's local units. Charles Twine, spokesman for the Criminal Investigation Department, said the hackers had gotten into the mobile money systems and stolen funds, according to Bloomberg.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
OCTOBER 8, 2020
Consumers love the opportunity to get paid instantly when they can. After all, who doesn’t want to get their money faster? . But with innovation comes risk — and anything that consumers use will always attract fraudsters looking to steal a cut of the action. . Ingo Money CEO Drew Edwards told Karen Webster that instant payments pose just such an attraction to fraudsters who hope to not only exploit security holes to get paid, but to get paid faster than ever before. .
CFPB Monitor
OCTOBER 8, 2020
The CFPB recently issued Frequently Asked Questions ( FAQs ) addressing the referral fee and fee splitting prohibitions under Section 8 of the Real Estate Settlement Procedures Act (RESPA). The CFPB also rescinded its Compliance Bulletin 2015-05, RESPA Compliance and Marketing Services Agreements. As previously reported , Bulletin 2015-05 is a good example of the adage “Be careful what you ask for, you may get it.
PYMNTS
OCTOBER 8, 2020
As cloud technologies emerge to help financial institutions (FIs) drive digital innovation, Finastra has introduced its Fusion Payments To Go offering for small and medium-sized banks. In addition, Monese adopted Thought Machine’s cloud banking platform. Also seen in this week’s roundup of the latest in Bank-FinTech innovations was Alacriti teaming with The Clearing House on real-time payments (RTP), while Singapore Banking-as-a-Service (BaaS) startup RootAnt concluded a seed round with $1.46 mi
Payments Source
OCTOBER 8, 2020
In the two months since earned wage access (EWA) provider Immediate launched Visa Direct as a payment option, the near real-time method is already accounting for 50% of its payments.
Advertisement
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
PYMNTS
OCTOBER 8, 2020
The consumerization of payments continues. And it may be enough to fix what ails healthcare. In an interview with Karen Webster, John Talaga , executive vice president and general manager, healthcare at Flywire , said healthcare firms are getting creative with the ways they grapple with collecting on what patients owe — and closing revenue and cash flow gaps.
Payments Source
OCTOBER 8, 2020
The combination can address the different threats posed by money muling, which is on the rise with more people at home, says FICO's TJ Horan.
PYMNTS
OCTOBER 8, 2020
In September, the Centers for Disease Control (CDC) issued updated guidance about on-premise dining as follows: “Findings from a case-control investigation of symptomatic outpatients from 11 U.S. healthcare facilities found that close contact with persons with known COVID-19 or going to locations that offer on-site eating and drinking options were associated with COVID-19 positivity.
Bobsguide
OCTOBER 8, 2020
“Data-only transactions already dwarf payment transactions and that will just increase tenfold over the next few years, both at the domestic payment system level and at the cross-border level,” said Paul Stoddart, president, new payment platforms, Mastercard during a Sibos panel.
Advertisement
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.
PYMNTS
OCTOBER 8, 2020
Square , the FinTech payments company headed by Twitter CEO Jack Dorsey, announced on Thursday (Oct. 8) that it has invested $50 million — approximately 1 percent of its total second-quarter assets — to purchase roughly 4,709 bitcoins. “We believe that bitcoin has the potential to be a more ubiquitous currency in the future,” said Amrita Ahuja , chief financial officer, Square.
Bobsguide
OCTOBER 8, 2020
Please take the one minute survey here. In April, bobsguide took to the market and asked fintechs to tell us how coronavirus had impacted their businesses. 70 percent of fintechs surveyed reported a negative impact on their business as a result of the pandemic, with a slow recovery expected.
PYMNTS
OCTOBER 8, 2020
Jobless claims continued to be below 1 million last week, but so far have failed to slip under 800,000 since the start of the pandemic, according to data released Thursday (Oct. 8) by the U.S. Department of Labor (DOL). For the week ending Oct. 3, the advance figure for seasonally adjusted initial claims was 840,000, a decrease of 9,000 from the previous week’s revised level.
SWBC's LenderHub
OCTOBER 8, 2020
For many lenders, the coronavirus and subsequent economic challenges have ushered in considerably declining levels of direct auto loan originations and loan growth across the auto lending landscape.
Advertisement
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.
PYMNTS
OCTOBER 8, 2020
The growing cost of online fraud – and finding ways to detect it – has long been a costly concern of financial institutions (FIs). But GeoGuard CEO David Briggs told Karen Webster in a recent conversation that FIs could eliminate most fraudulent transactions with the proper use of a readily available and proven technology – geolocation checking. He said banks and payment processors already have this technology on hand – they’re just not using it correctly. .
Matt Wilcox Pro
OCTOBER 8, 2020
Some thieves take on smart ATMs with high tech gadgetry. Others, you could say, have a shorter fuse. The United States Department of Justice recently sent notifications to 2,000 residents in my home state of Utah. Recipients are presumed victims of one Alexandru Cosmin Licsor, freshly extradited from Romania. The purpose of the letter was to inform […].
PYMNTS
OCTOBER 8, 2020
Affirm has announced a filing for an initial public offering (IPO), according to a press release , and the company has submitted a draft to the Securities and Exchange Commission (SEC). The number of shares that will be offered and the price range have not been determined, the release stated. The IPO will take place after the SEC review process is complete.
BankInovation
OCTOBER 8, 2020
The Office of the Comptroller of the Currency is pushing ahead on its plan to get charters into the hands of fintechs. The House Financial Committee’s Fintech Task Force met last week to discuss the OCC’s proposed payments charter, a pared-down version of the OCC’s fintech charter blocked by the Southern District of New York […].
Advertisement
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.
PYMNTS
OCTOBER 8, 2020
Enterprise blockchain service provider Ripple on Thursday (Oct. 8) announced a beta offering called Line of Credit that it says lets its FinTech customers use the XRP digital currency to send cross-border payments. The service is not available to individuals. “With a line of credit from Ripple, your financial institution can use XRP to complete instant, low-cost cross-border transfers,” the company said in its announcement.
SWBC's LenderHub
OCTOBER 8, 2020
For many lenders, the coronavirus and subsequent economic challenges have ushered in considerably declining levels of direct auto loan originations and loan growth across the auto lending landscape. Starting in March of this year, vehicle sales dropped off of the proverbial cliff, reaching their worst levels since March 2010, in the middle of the Great Recession.
PYMNTS
OCTOBER 8, 2020
Risk management platform Feedzai announced a 44 percent increase in growth for the first half of the fiscal year for 2020, which a press release says was one of the company’s most successful so far. Comparing it favorably to the first half of 2019, Feedzai says it closed deals in the U.S., EMEA, Asia and the Pacific and Latin America. The deals sometimes concerned big players, including “some of the largest and most innovative companies in the world (e.g. one of the biggest payments processors i
CFPB Monitor
OCTOBER 8, 2020
We have recently focused on the DFPI’s expanded authorities under California Consumer Protection Law , the Debt Collection Licensing Act , and the Student Borrower Bill of Rights. In addition to these blockbuster bills, this legislative session included a short bill impacting the DFPI’s enforcement authority under the California Financing Law (“CFL”), which has also been signed into law by Governor Newsom.
Advertisement
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.
Expert insights. Personalized for you.
167 
Let's personalize your content