SWBC's LenderHub
AUGUST 2, 2021
Last Week. The highlight of the week was the July FOMC meeting and announcement. Importantly, there was some language change that acknowledged the continued progress made by the economy and that they are now actively looking at the data to decide when to begin tapering.
BankInovation
AUGUST 2, 2021
As a wannabe investment banker, Afterpay Ltd. co-founder Nick Molnar was told to stick to his “side hustle” of selling jewelry on EBay Inc. instead of taking a job with a venture capital firm. If that didn’t work out, his would-be boss at the company where he was interviewing promised to keep the job open […].
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TheGuardian
AUGUST 2, 2021
Increases are thought to apply to three most junior positions across investment bank Goldman Sachs is increasing pay for its junior bankers, months after graduates raised concerns over “inhumane” working conditions and 100-hour weeks. The Guardian understands that the salary increases apply to the three most junior positions across the investment bank, with first-year analysts – who previously received about £50,000 in base pay – set to see their pay rise to $110,000 (£79,000) before bonuses.
William Mills
AUGUST 2, 2021
We're back with a new episode of Accelerated, a podcast series that gives a behind-the-scenes look at how fintech-banking deals are made and why they’re important.
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.
TheGuardian
AUGUST 2, 2021
Survey found customers who had been victims of scams often struggled to contact their bank The UK’s biggest banks are failing to properly help fraud victims , leaving them “feeling abandoned at a time of crisis and exposed to future scams”, the consumer group Which? has claimed. Which? found that customers often struggled to contact their bank after they had been a victim of a scam, including one HSBC customer who waited a total of seven hours on hold and racked up a £50 phone bill.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
SWBC's LenderHub
AUGUST 2, 2021
There is a somewhat dated adage in business that it costs five times more to acquire a new customer than it does to retain an existing one. However, in focusing on this data point, many financial institutions lose sight of something even more important—connecting with account holders, creating positive experiences with your brand, and delivering value.
CFPB Monitor
AUGUST 2, 2021
The Texas federal district court hearing the lawsuit filed by two trade groups challenging the CFPB’s 2017 final payday/auto title/high-rate installment loan rule (2017 Rule) has entered an order directing the parties to files briefs regarding a compliance date for the 2017 Rule’s payment provisions. The order states that the court requests the additional briefing “concerning what would be the appropriate compliance date if the court were to deny Plaintiffs’ motion for summary judgment and gran
Jeff For Banks
AUGUST 2, 2021
I enjoy Twitter because of the relationship threads I have maintained, the good-natured jabbing among friends, and keeping abreast of news I would not otherwise read. One of my tweeps (Twitter friends), is Andy Schornack, CEO of Flagship Bank Minnesota, based in Wayzata. He exemplifies the best of next generation bank leadership, with eyes wide open to the next iteration of banking in our rapidly changing environment.
CFPB Monitor
AUGUST 2, 2021
To the surprise of the debt collection industry, the CFPB announced this past Friday afternoon that its final debt collection rule (Parts I and II) will take effect on November 30, 2021 as originally scheduled. Many in the industry were expecting the CFPB to extend the effective date to January 29, 2022, consistent with its April 2021 proposal. In April 2021, the CFPB proposed the extension due to concerns that, as a result of the disruption caused by the COVID-19 pandemic, stakeholders would n
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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
TheGuardian
AUGUST 2, 2021
Bank helped by economic rebound from Covid-19 crisis in key markets including the UK HSBC has increased its bankers’ bonus pool by 50% after profits grew by more than fourfold in the second quarter thanks to an economic rebound in key markets including the UK. The London-headquartered bank said it had put aside $900m (£650m) to compensate its star bankers in the first half of the year, up from $600m during the same period in 2020 when its profits suffered from the onset of the Covid crisis.
Banking Exchange
AUGUST 2, 2021
While Finward Bancorp announces merger with Royal Financial Management Feature M&A Feature3 Community Banking.
TheGuardian
AUGUST 2, 2021
Parker Hannifin could potentially be a decent owner but its commitments are too easy to wriggle out of The only simple element in US group Parker Hannifin’s £6.3bn bid for Coventry-based defence and aerospace business Meggitt is the takeover premium: an offer at 71% more than last week’s share price counts as fat by any measure. UK investors, once again, have been guilty of seriously undervaluing a FTSE 250 industrial company.
Bankelele
AUGUST 2, 2021
The Nairobi Securities Exchange (NSE) has launched a new push to increase the number of listed companies. Rather than wait for companies to get ready for listing, they had set out to seek and groom companies under the Ibuka program and have now launched an unquoted securities platform (USP) to woo more companies. At […]. The post New unquoted board for company listings at Nairobi appeared first on Bankelele.
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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
CB Insights
AUGUST 2, 2021
Sundae , a real estate tech company, has raised $80M in a Series C. The round drew participation from Fifth Wall Ventures, General Global Capital, QED Investors, Crossover VC, and Founders Fund, among others. HOW’S THE COMPANY PERFORMING? California-based Sundae is a real estate marketplace that connects homeowners with real estate property dealers and investors to facilitate the trading of distressed or damaged residential properties.
BankInovation
AUGUST 2, 2021
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FICO
AUGUST 2, 2021
Will residents of the developing world thank their lucky stars as low Earth orbit (LEO) satellites start to usher in the next era of global digital transformation? Satellite internet service is just one of several off-world infrastructures currently in development. The most high-profile is probably SpaceX’s Starlink, closely followed by a competitive pack comprising Iridium, Boeing, Orbcomm, GlobalStar Amazon, OneWeb and Telesat, among others.
BankDeals
AUGUST 2, 2021
I usually don’t review credit unions like Merck Employees FCU that have a narrow field of membership, but searching for these types of credit unions can be advantageous.
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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.
The Paypers
AUGUST 2, 2021
UK-based PSR has announced a new initiative to understand potential barriers to the take-up of digital payments and identify potential solutions.
The Paypers
AUGUST 2, 2021
US-based payments app Square has announced its plans to acquire Australia-based Buy Now, Pay Later operator Afterpay in an all-stock deal that values Afterpay at about USD 29 billion.
American Banker
AUGUST 2, 2021
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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.
The Financial Brand
AUGUST 2, 2021
Relationships with fintechs are quickly becoming an essential for survival, but they'll only work with three key factors in place. The post How Banks Can Ensure Fintech Partnerships Don’t Fail appeared first on The Financial Brand - Banking Trends, Analysis & Insights.
The Financial Brand
AUGUST 2, 2021
The pace of digital transformation will rocket as vastly increased network speed and connectivity empowers both banks and their competitors. The post How 5G Will Reshape the Future of Digital Banking & Payments appeared first on The Financial Brand - Banking Trends, Analysis & Insights.
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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.
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