Mon.Nov 29, 2021

3 ways banks can seize wealth management momentum

Accenture

All eyes on a market in motion The wealth management landscape is expanding and evolving so fast that it’s essentially uncharted territory for many middle market banks. Total global household wealth has grown significantly in recent years, jumping 7.4% in 2020 despite the pandemic.

Market Commentary: Week of November 29, 2021

SWBC's LenderHub

Last Week. Another crazy week in a wild year. We spent the first three days of the week ratcheting up the odds of the potential of a faster Fed taper and earlier policy rate hikes, then we spent the day after the Thanksgiving holiday reversing those odds in near panic mode. Capital Markets

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Can Neobanks persuade investors that they can generate enough profits without lending?

Daily Fintech

Neobanks (regulated digital only) are hot right now with 5 already in the Fintech 50 Index, many more lining up to IPO and top tier investors (including Warren Buffet in Nubank) going all in on private equities.

Listen: Opportunities in crypto for banks, FIs

BankInovation

As interest and investment in cryptocurrency spikes this year, banks and financial institutions (FIs) must decide whether and how to become involved, or potentially lose revenue and customers if they opt out. This is the message from Lawrence Pruss, senior vice president at Memphis, Tenn.-based

How to Choose the Best Automated Documentation System for Commercial Loans

Not all automated loan doc prep solutions are created equal. That is why we have put together a checklist to help you evaluate potential partners and find the best-automated documentation system for your requirements and needs.

How AI improves AML efforts across the financial services industry

Banking Exchange

Money laundering and other types of financial crime have plagued the financial industry for years Risk Management Feature3 Feature Financial Research Duties Technology AML & Fraud BSA/AML Security Operational Risk Compliance Management Cyberfraud/ID Theft. 1Risk Management

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How Neobanks are Redefining “Communities” for Banking in the Digital Economy

Banking Exchange

Challenger banks or neobanks have gained rapid adoption due to their ability to meet customers in the channel of their choice Technology Feature3 Fintech Feature Digital Neobanks. 1Technology

Citigroup alum Matt Zhang launches $1.5B crypto-investing venture

BankInovation

Former Citigroup Inc. executive Matt Zhang is launching a $1.5 billion venture focused on cryptocurrency-related investments and has hired Sam Peurifoy — an ex-Goldman Sachs analyst known for his online gaming persona “Das Kapitalist” — to lead a dedicated “play-to-earn” strategy.

Wells Fargo Commits $1m to Support Historically Black Colleges and Universities Graduation Rates

Banking Exchange

Graduation rates among HBCU students currently among the lowest for all students Community Banking Feature3 Feature Diversity Inclusion Human Rights Fair Lending. 1Community Banking

Supply Chain Hacks and Vendor Management for Financial Institutions

SWBC's LenderHub

Earlier this summer, cybercriminals launched a single attack that negatively impacted well over 1,000 businesses.

Miami 78

Digitally Transforming the Engagement Experience for Financial Institutions

Customer experience has become a key differentiator. Learn how to launch your digital transformation by incorporating two customer experience trends into your digital transformation strategy: self-service & personalization.

U.S. Bank to Donate Minneapolis Branch to Nonprofit Community

Banking Exchange

Converted branch will include affordable housing, commercial and outdoor spaces, nonprofit services, and arts and cultural destinations Community Banking Feature3 Feature Fair Lending Diversity Inclusion Human Rights Small Business. 1Community Banking

How banks are preparing for a wave of boomer retirements

American Banker

Retirement Workforce management Succession planning Commercial banking

Banking System Conditions Improved in 2021 as Banks Remain Strong

Banking Exchange

Fed flags cybersecurity and operational resilience as priorities for large banks Risk Management Feature3 Feature Financial Research Lines of Business The Economy Cyberfraud/ID Theft Security Online Operational Risk. 1Risk Management

Why New York Community Bank is minting stablecoins

American Banker

Cryptocurrencies

Digital Commercial Lending Technology Case Study: Increasing Loan Volume and ROI

In this Commercial Lending Case Study, you'll discover how to leverage digital lending technologies to accelerate growth and leapfrog the competition in the private lending market. A new and innovative approach to mortgage lending — growing lending volume by orders of magnitude.

The Future of Noninterest Income at Financial Institutions

Abrigo

Noninterest income pressures present challenges Some financial institutions are adapting offerings that generate service charges and fees - important sources of noninterest income. . You might also like this webinar: "Is inflation the big gift to your 2022 earnings?". WATCH.

What does Jack Dorsey's departure as Twitter CEO mean for Square?

American Banker

Industry News Payments

CA DFPI proposes rule to require registration of consumer financial services providers

CFPB Monitor

The California Department of Financial Protection and Innovation (DFPI) is seeking comments on a proposed rulemaking under the California Consumer Financial Protection Law (CCFPL).

CA 78

A debt-ceiling crisis would tie FDIC’s hands if a big bank failed

American Banker

Crisis Management Politics and policy

FDIC 61

The Non-QM Market Experiences a Remarkable Comeback: Check Out the Industry Guide

As the commercial lending market evolves, non-QM loans are becoming increasingly popular. Check out this eBook for a detailed look at the benefits of non-QM loans, how to maneuver your way through, and what the future may bring.

Federal banking agencies Issue “Crypto Asset Roadmap” for 2022 guidance; OCC confirms prior interpretive letters on crypto (but adds no-objection requirement)

CFPB Monitor

Mountain West Credit Union Association CEO to retire

American Banker

Industry News Credit unions

Westpac admits it broke law and agrees to pay $113m in penalties

TheGuardian

Synovus hires head of new corporate and investment banking unit

American Banker

Investment banking Career moves Commercial banking

61

A Comprehensive Guide to Construction Loan Issues for the Commercial Loan Market

Understand how to mitigate risk & protect the interest of all parties with this exclusive, must-have guide outlining important issues for commercial construction lending & best practices.

Merchants Bank’s 10 Days of Giving Food Drive Kicks Off 33rd Year

MerhantsBanks

WINONA, Minn. Merchants Bank kicked off the 33rd annual 10 Days of Giving food drive on Monday morning. The drive runs December 1-10 and benefits the food shelf programs operated by Winona Volunteer Services (WVS). Through the first 32 years, more than 4 million pounds of food have been collected.

Banks, credit unions experiment with college athlete marketing deals

American Banker

Credit unions

Meeting the Customer Affordability Challenge at Speed and scale

Fico Collections

Many lenders’ back-offices continue to be weighed down by legacy customer affordability systems. Updating them to meet rapidly changing market conditions has become hugely time-consuming and a typically onerous challenge.

Industry braces for another fight over IRS tax reporting plan

American Banker

Tax Politics and policy

Taxes 58

CMBS Lending on the Rise: Uncover 10 Common Myths of Securitized Lending

CMBS Lending is an established and growing industry that is, once again, rising to the top as a significant source of permanent loan financing. Learn the truth about CMBS lending and why it might be the best financing solution.