Payments Dive
MAY 3, 2022
Buy now-pay later providers are having to pay a hefty price to keep up with surging consumer demand for their financing services, spending large sums to add new technology and more employees. As a result, their expenses are rising at a much faster rate than their revenue, meaning most of the major players are posting losses despite the BNPL mania.
CFPB Monitor
MAY 3, 2022
On April 28, 2022 the New York Department of Financial Services (“NYDFS”) issued its Guidance on Use of Blockchain Analytics , a document directed to all virtual currency business entities that either have a NYDFS Bitlicense or are chartered as a limited purpose trust company under the New York Banking Law. The Guidance emphasizes “the importance of blockchain analytics to effective policies, processes, and procedures, including, for example, those relating to customer due diligence, transacti
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Payments Dive
MAY 3, 2022
Stephen Squeri, CEO of New York-based American Express, received $28.5 million in total compensation for 2021. The vast majority of that pay package came from annual and long-term incentive awards on top of a $1.5 million base salary.
BankUnderground
MAY 3, 2022
Jonathan Bridges, Georgina Green and Mark Joy. Any distributional effects on credit of macroprudential policies are only one part of the distributional story. Relatively little is known about how such policies affect the income distribution in the longer term via their role in preventing crises or mitigating their severity. Our paper helps to fill that gap in the literature by looking at the impact of past recessions and crises on inequality, and the amplifying roles of credit and capital within
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
Payments Dive
MAY 3, 2022
To combat scams and fraud in the digital asset space, the federal agency is adding 20 supervisors, investigative staff attorneys, trial counsels and fraud analysts to an already 30-strong team.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Dive
MAY 3, 2022
Restaurant software company Toast on Tuesday announced its move into the hotel market with Toast for Hotel Restaurants, which it says will provide tools to streamline operations, increase revenue and process room charges directly from its suite of features.
TheGuardian
MAY 3, 2022
Think tank says pay and bonus deals have risen by about twice as much as other UK sectors Inequality in Britain risks being driven up by the biggest boom in City bonuses and pay since the 2008 financial crisis, the country’s leading economics thinktank has warned. The Institute for Fiscal Studies (IFS) said the return of bumper finance industry payouts meant the top 1% highest-paid workers were beginning to pull further away from the rest of the UK workforce despite the cost of living crisis hit
Payments Dive
MAY 3, 2022
Cloud-based and mobile-friendly, fintech solutions are poised to revolutionize how contractors pay and get paid.
BankInovation
MAY 3, 2022
When it comes to managing data, smaller financial institutions like regional banks and credit unions are not lacking the resources of larger banks, they are often drowning in data. For many, the challenge in utilizing data lies in knowing where to start, said Anne Legg, author of the book “Big Data/Big Climb: A Credit Union […].
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
TheGuardian
MAY 3, 2022
Inputting mistake led to suspension of trading on several markets after sudden steep falls The US bank Citigroup has said that one of its traders made an error when European stock markets suffered a “flash crash” on Monday. Trading was briefly suspended in several European markets on Monday morning, after leading share indices recorded sudden steep declines.
BankInovation
MAY 3, 2022
Digital banking vendor Q2 announced today that it secured five big bank signatures during the first quarter as the company continues its up-market digital banking push. Q2 has enterprise contracts with two unnamed banks from the top 10 and top 50, respectively, along with a large credit union contract, according to its Q1 earnings presentation. […].
The Paypers
MAY 3, 2022
Singapore-based ecommerce platform Shopee has gotten authorisation from Brazil’s central bank to operate as a payment institution.
BankInovation
MAY 3, 2022
Blockchain technology and digital currencies are not yet part of the average person’s day-to-day financial life. However, as consumer interest grows, so does their potential to disrupt the global banking ecosystem in significant and lasting ways. Not unlike the transformation catalyzed by the introduction of online and mobile banking, decentralized finance (DeFi) and digital currencies […].
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.
ABA Community Banking
MAY 3, 2022
In a letter to FHFA, ABA commented on the re-proposed update to standards that mortgage lenders would have to meet to sell loans to or service loans on behalf of Fannie Mae and Freddie Mac. The post ABA comments on FHFA’s re-proposed eligibility standards for enterprise single-family seller/servicers appeared first on ABA Banking Journal.
The Paypers
MAY 3, 2022
India-based market regulator the Securities and Exchange Board of India (SEBI) has planned to join the account aggregator (AA) framework, according to moneycontrol.com.
The Banker
MAY 3, 2022
The Treasury’s recently announced changes following its wholesale capital markets review are significant, but not revolutionary — at least not for now. Marie Kemplay reports.
The Paypers
MAY 3, 2022
Basiq has announced Pearler, Way Forward, The Payment App, Otivo, and Fonto as new customers under the CDR Representative model who can now access Open Banking data.
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.
The Paypers
MAY 3, 2022
Italy-based independent asset manager Azimut , through its subsidiary Azimut Investments , has teamed up with Salt Edge , an Open Banking solutions provider.
The Paypers
MAY 3, 2022
Mobile tax filling app Taxfix has closed a Series D of USD 220 million at a valuation of over USD 1 billion, according to TechCrunch.
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.
The Paypers
MAY 3, 2022
Toss Bank has announced it will allow foreign residents in South Korea to open an online bank account.
The Paypers
MAY 3, 2022
The Federal Reserve has began onboarding pilot participants onto the FedNow Service, signalling the initial testing phase.
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.
418 
Let's personalize your content