Accenture
FEBRUARY 22, 2022
As you read this, the internet is being reshaped. And it’s already transforming banking. We have not witnessed a topic explode quite like the metaverse. While extended reality (XR) technology has been around for some time, the topic’s momentum has recently accelerated with some analysts now predicting the metaverse to be an $8 trillion opportunity.….
SWBC's LenderHub
FEBRUARY 22, 2022
Last Week. It was another wild and crazy one last week as the markets dealt with the dueling narratives of a flight to quality, risk-off reaction to the growing Ukraine crisis in Europe, and continued inflation pressures at home. We ended the week focused on the former as stocks sold off hard. Corporate credit spreads widened only a touch, probably just a touch because there were no forced sellers.
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ATM Marketplace
FEBRUARY 22, 2022
While Bitcoin ATMs and cryptocurrency in general is an expanding business, many banks are still reluctant to work with these businesses due to regulatory concerns; however, banks are developing models to determine if they can work with a cryptocurrency or Bitcoin ATM business.
TheGuardian
FEBRUARY 22, 2022
European and US response would ‘hurt Russia a lot’ and second tranche of measures would be even more punitive Ukraine crisis – live updates Russia’s ability to fund its invasion of Ukraine through Europe’s financial markets is to be hit with a package of EU sanctions closely coordinated with the White House. As agreement was announced by the 27 European member states on a range of punitive measures against Moscow, Josep Borrell, the EU’s foreign affairs chief, said the first strike from Brussels
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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
BankInovation
FEBRUARY 22, 2022
When the pandemic hit, it became increasingly difficult for lenders to know how many applications for loans might come through the door. That led to volatility in the system that became even more pronounced when the “Great Resignation” hit, Sam Bobley, founder and CEO of intelligent document automation company Ocrolus, tells Bank Automation News in […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
BankInovation
FEBRUARY 22, 2022
Radha Suvarna, head of enterprise payments strategy and innovation at Citizens, will join the panel “Strategies for Automating Payment Processes” on Wednesday, March 2, at 11:15 a.m. ET at Bank Automation Summit 2022. The Summit will be held March 1-2 at JW Marriott in Charlotte, N.C. The panel will discuss real-time transaction processing, embedded payments […].
TheGuardian
FEBRUARY 22, 2022
From Rosneft to Gazprom and En+ Group, most significant London-listed firms potentially face sanctions Germany shelves NordStream 2 pipeline West struggles to maintain unity Five banks and three people sanctioned As soon as Vladimir Putin ordered his forces to enter eastern Ukraine under the guise of “peacekeeping”, there was pressure on the west to fulfil its promises to punish Moscow with tough sanctions, amid fears the incursion is a precursor to a more sweeping invasion.
BankInovation
FEBRUARY 22, 2022
U.S. Bancorp is doubling down on its growing digital-banking operations by partnering with Microsoft Corp. to improve offerings over the internet and on mobile apps. The multiyear partnership is meant to help business customers more easily generate invoices and handle payments, the Minneapolis-based lender said in a statement. Microsoft’s Azure cloud-computing business will become U.S. […].
Bobsguide
FEBRUARY 22, 2022
Tata Consultancy Services, (TCS), (BSE: 532540, NSE: TCS) a leading global IT services, consulting and business solutions organization, announced today that Zions Bancorporation has gone live on TCS BaNCS for Core Banking with the successful transition of Zions Bancorporation’s Consumer Lending business over to the TCS BaNCS platform, a major milestone in the North American Banking industry’s march towards modernization.
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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
FEBRUARY 22, 2022
SoFi Technologies announced today it is acquiring digital multiproduct core banking platform Technisys, which will operate as a subsidiary of SoFi. Technisys’ shareholders will receive aggregate consideration of approximately 84 million shares of SoFi common stock — approximately $1.1 billion — less than 10% of SoFi’s fully diluted share count as of Sept. 30, 2021, […].
Bobsguide
FEBRUARY 22, 2022
Digital transformation to accelerate growth and adoption of modern banking practices. Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading global IT services, consulting and business solutions organization, announced that its flagship product TCS BaNCS has gone live in Gansu Bank, China. Gansu Bank is the only provincial city commercial bank directly managed by the Gansu Provincial Government and has approval from China Banking Regulatory Commission.
BankInovation
FEBRUARY 22, 2022
HSBC plans to boost its technology spend to 21% of its operating expenses by 2025 as the bank experiences increased digital usage across its banking channels. “We've continued to invest heavily in technology, spending around $6 billion in 2021, which is equivalent to 19% of our adjusted operating expenses,” HSBC Group Chief Financial Officer Ewen […].
Bobsguide
FEBRUARY 22, 2022
MANAMA | MUMBAI, October 13, 2020: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) , a leading global IT services, consulting and business solutions organization, announced that Bahrain Development Bank (BDB), a development finance institution established by the government of Bahrain, focusing on financing and development of small and medium businesses, to encourage and support entrepreneurship in the Kingdom of Bahrain, has selected the TCS BaNCS Global Banking Platform for its core ban
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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.
BankBazaar
FEBRUARY 22, 2022
They say, whatever goes up, must come down. Well, if the price of fuel was a person, he would beg to differ. But fret not – the right fuel Credit Card can save the day (and some money)! Did You Know: Venezuela is the leading country in terms of oil reserves and has the cheapest price for fuel – just $0.02 per litre! Want to up and leave for Venezuela?
CFPB Monitor
FEBRUARY 22, 2022
In CFPB v. National Collegiate Master Student Loan Trust et al. , the district court rejected the Trusts’ arguments that they were not “covered persons” under the CFPA and that because the enforcement action was filed by an unconstitutionally structured CFPB, it was void when filed and could not stop the statute of limitations from running. The district court has now certified two questions to the Third Circuit for interlocutory appeal : whether the Trusts are “covered persons” and whether the
TheGuardian
FEBRUARY 22, 2022
London-headquartered bank paid more than 450 of its staff €1m or more last year HSBC boosted its banker bonus pool by nearly a third after a global recovery from the Covid crisis helped profits more than double last year. The London-headquartered bank increased its staff bonus pool to $3.5bn (£2.6bn), a move it said was justified due to its strong financial performance and the need to compete for bankers in an “extraordinarily competitive labour market”.
The Paypers
FEBRUARY 22, 2022
FedEx Express , a subsidiary of global express transportation company FedEx, has announced a strategic partnership with US-based SaaS ecommerce platform BigCommerce.
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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.
TheGuardian
FEBRUARY 22, 2022
Analysts warn of 10% inflation and weaker growth across western economies as Ukraine crisis raises oil price to $99 a barrel UK petrol prices are poised to hit a record 150p a litre later this week after the worsening tension in Ukraine added fresh pressure to the cost of living crisis facing households. Crude oil prices reached more than $99 a barrel at one point on Tuesday in response to Vladimir Putin’s decision to recognise the independence of two breakaway regions in eastern Ukraine.
CB Insights
FEBRUARY 22, 2022
Funding Societies , a digital financing platform for SMEs in Southeast Asia, has raised $144M in an extended Series C round that drew participation from K3 Ventures, Rapyd Ventures, SoftBank Group, and VNG, among others. The company also raised $150M in debt financing from undisclosed investors. HOW’S THE COMPANY PERFORMING? Singapore-based Funding Societies uses an AI-based credit assessment model to provide loans, credit cards, and expense management and B2B payment services to SMEs.
TheGuardian
FEBRUARY 22, 2022
Three biggest groups in European parliament support possible move to high-risk list for money laundering Credit Suisse leak unmasks criminals, fraudsters and corrupt politicians What is the Suisse secrets leak and why are we publishing it? All three of the largest groups in the European parliament are demanding that the EU assess whether Switzerland should be categorised as a high-risk country for money laundering and financial crime, as reaction to the Credit Suisse leak continues to reverberat
CB Insights
FEBRUARY 22, 2022
Employment Hero , a human resources software provider, has raised $129M in a Series F funding round that drew participation from AirTree Ventures, OneVentures, and SEEK, among others. HOW’S THE COMPANY PERFORMING? Australia-based Employment Hero enables SMEs to manage employment processes, such as those related to payroll, employee benefits and retirement, employment contracts, and accounting.
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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.
TheGuardian
FEBRUARY 22, 2022
Hundreds of account holders report fraudulent transactions, some for more than £100 Hundreds of customers of First Direct have been victims of fraudsters who have used their card details to place orders at Nando’s. Cardholders received notifications of the payments last week, with some reporting that more than £100 had been spent on their account apparently at the fast food chain’s website.
The Paypers
FEBRUARY 22, 2022
Bank Negara Malaysia , the country’s central bank, has announced it will award up to five digital banking licenses out of the 29 applicants enrolled in the programme.
The Paypers
FEBRUARY 22, 2022
Sweden-based regtech company ZignSec has partnered with Asiapay to automate the latter’s digital onboarding process.
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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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