Wed.May 12, 2021

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US Bankers Optimistic Despite Post-Pandemic Changes

Banking Exchange

Nearly two thirds believe their bank to be in a strong position, survey shows Risk Management Retail Banking Technology Feature3 Financial Research Feature Financial Trends The Economy Covid19 PPP Online Mobile.

US 97
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Bailey: Combination of reforms needed to tackle â??dangerousâ?? money market funds

Bobsguide

Bank of England governor Andrew Bailey has said that money market funds (MMFs) proved in the early stages of the pandemic that they were “not sufficiently resilient” That is despite efforts to increase the stability of MMFs after their involvement in the demise of Lehman Brothers and.

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The Jack Henry Approach to Openness

Jack Henry

About two years ago, I sent a letter to bank and credit union CEOs and Presidents conveying what open banking is and what it means to Jack Henry. Since that time, the demand for improved digital experiences, centered around the needs of customers and members, has made open banking essential. In today’s market, people aren’t just comparing financial institutions when making decisions on where to bank – they’re comparing experiences.

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KeyBank ramps up RPA ops

BankInovation

Improved data quality and cost savings have spurred KeyBank to roll out robotic process automation (RPA) in its frontline, back office and technology operations recently. KeyBank first implemented RPA solutions via the cloud-native, web-based and AI-infused Automation Anywhere platform in 2018, said Dominic Cugini, chief information officer of service digitization at the $170 billion KeyBank, […].

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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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Wells Fargo set for FedNow pilot testing

Bobsguide

Wells Fargo is ready to pilot the Federal Reserve’s new instant payments service, FedNow, which is expected to launch in 2023. Speaking at this year’s Finovate Spring, Braden More, executive vice president and head of partnerships and industry relations at Wells Fargo said he hopes.

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Durbin interchange battles resurface

CFPB Monitor

The Fed’s final rule implementing the Durbin Amendment (Regulation II) went into effect in October 2011. Nearly ten years later, the final rule is still provoking controversy in the form of a new lawsuit and proposed amendments to the rule and its official commentary. The Durbin Amendment (Section 1075 of Dodd-Frank) authorized the Fed to issue regulations to ensure that the amount of any interchange fee received by a large debit card issuer (one with at least $10 billion of assets, together wi

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Microservices: The key to digitalization in corporate banking

BankInovation

Introduction While retail banking transformed, corporate banking slept. Instead of embracing digital, providing new levels of experience and customer service while reducing costs, the corporate banks kept their focus on preserving revenues from traditional channels. This means corporate, and business banks tend to also be behind in embracing newer technology.

Retail 97
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Umpqua Bank Fined $1.8M Over Unfair Charges

Banking Exchange

FDIC levies fine for unfair and deceptive practices in equipment leasing business Compliance Duties Feature Management Feature3 Compliance Management Compliance/Regulatory.

FDIC 78
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Softbank-backed digital lender Better eyes public listing via SPAC merger

BankInovation

Digital mortgage lender Better announced Tuesday it is looking to go public via a merger with special purpose acquisition company (SPAC) Aurora Acquisition Corp. The lender announced Tuesday that it has entered into a definitive merger agreement that will make Better a publicly-listed company on the NASDAQ index through a transaction that reflects an implied […].

Company 80
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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.

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What’s in a Name? Banks Eye New Brands

Banking Exchange

Susser Banc Holdings rebrands Texan subsidiary, while Texas Capital overhauls visual identity Retail Banking Duties Financial Trends Feature3 Feature Financial Research.

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MoneyGram, Coinme to allow bitcoin to be traded for cash in person

Payments Source

Bitcoin 165
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New OCC Boss Outlines Regulatory Agenda

Banking Exchange

Michael Hsu will be deputy comptroller once a permanent nominee is appointed Feature The Economy Feature3 SRI Compliance Compliance Management Compliance/Regulatory.

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Greensill lobbying row: FCA mulls ‘restrictions’ on financial system

TheGuardian

Regulator to review mechanism that allowed now collapsed bank to operate in UK without a licence The head of the UK financial regulator has promised to consider imposing restrictions on a system that allowed the now collapsed bank Greensill Capital to operate in the UK without a licence. Nikhil Rathi, the chief executive of the Financial Conduct Authority (FCA), told MPs that Greensill’s failure had led the regulator to look “much more closely at the systems of control that the principle has in

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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

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.

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Coinsurance vs. Copay: How Much Will You Pay Out of Pocket?

MyBankTracker

Coinsurance and copays are the two major cost-sharing models used by health insurance companies. They are costs in addition to any deductible you must pay. Still: Health insurance plans may help make healthcare more affordable. This is especially true when you face significant medical expenses. Unfortunately, health insurance is anything but simple.

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Meet Kirk Muhlenbruck, Market President in Northfield

MerhantsBanks

Kirk has a long track record of leadership in banking and now he’s ready to bring his career into the community he’s called home for almost 20 years. Will you briefly outline your banking history? Kirk: I sure can. I started serving customers in the retail space, then moved into commercial banking and team leadership. […].

Meeting 52
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B2B automation is the low-hanging fruit for accounts payable

Payments Source

Payments 123
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Texas Tech Credit Union Has Competitive Kasasa Brand Products

BankDeals

Texas Tech Credit Union offers competitive Kasasa Cash Back and Kasasa Saver accounts. Possible easy membership by joining the Texas Tech Alumni Association.

Texas 52
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Top 10 Benefits of Automating Loan Modifications for Commercial Lenders

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.

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Aleta Planet, Fooyo form joint venture to offer digital marketing and ecommerce solutions to Singapore businesses

The Paypers

Singapore-based fintech Aleta Planet has announced that it has formed a joint venture with software developer Fooyo to offer digital marketing and ecommerce solutions for Singapore businesses that are preparing for the reopening of the Chinese market.

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Digitization can improve more than just financial lives

Payments Source

Marketing 105
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Nets identifies key trends in the 2021 payments industry

The Paypers

Nets , a digital payments provider, has released its 2021 Payments Outlook Innovation Report , which captures key trends affecting merchants and the payments industry considering the COVID-19 pandemic.

Trends 41
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Fiserv, Jack Henry find new markets for faster payments

Payments Source

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2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

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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Figure wins SEC approval to sell securities on its blockchain

American Banker

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Gaviti debuts automated collection tech for small, midsize shops

Payments Source

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M&A Moment: May 2021

Bankelele

M&A deals in East Africa in 2021. The post M&A Moment: May 2021 appeared first on Bankelele.

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Big banks on defense after Fed sides with retailers on debit swipe fees

Payments Source

Retail 83
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Top 10 Benefits of Automating Closing Documents

In the fiercely competitive landscape of commercial lending, where FinTech's digital transformation initiatives take center stage, the complexities of loan documentation are constantly evolving. Today, automating closing documents stands as a crucial component in FinTech's top priorities, addressing challenges from compliance demands to managing fluctuating volumes during uncertain economic times.