Bank Innovation
DECEMBER 31, 2019
With the start of the new year, banks and fintech companies that do business in California will need to grapple with the new California Consumer Privacy Act (CCPA), which goes into effect Wednesday. Although banks’ handling of consumer data is already covered by the federal Gramm-Leach-Bliley Act (GLBA), banks are scrambling to figure out what […].
PYMNTS
DECEMBER 31, 2019
The end of one decade, the beginning of another. Might the coming year be marked by innovation at the point of sale (POS)? The PYMNTS 2019 end-of-year survey of 30 executives asked for payment-related predictions that could (theoretically) be placed in a time capsule to be unearthed 12 months hence. The time frame, of course, is somewhat short. Thinking about what will come to fruition by the end of December 2020 gives little runway to predict, say, the most mobile of mobile commerce options (fl
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Abrigo
DECEMBER 31, 2019
Key Takeaways Risk management practices were on the minds of bankers in 2019 Some of the most popular blog posts of 2019 were about stress testing and CECL. Risk management practices were in the spotlight in 2019. Managing risk is at the very core of the business of banking, so it’s not a huge surprise that readers of Abrigo’s blog spent a lot of time in 2019 reading about the topic.
PYMNTS
DECEMBER 31, 2019
Paper-based payment methods such as checks and cash are awkward and cumbersome in either business-to-business (B2B) or business-to-consumer (B2C) transactions. The negative impact that these increasingly outdated methods have on both senders and receivers has mostly been ignored, however. Such legacy payment methods are usually tied to paper-based invoices and manual tracking and reconciliation procedures, which impede payments from being processed in a timely manner.
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.
Abrigo
DECEMBER 31, 2019
Key Takeaways The most popular blog posts on the Abrigo site reflect many of the priorities community banks and credit unions had in 2019. The top lending and credit blog posts focused on improving loan pricing, creating a better experience for borrowers, and developing risk ratings. Top blog posts reflect bank, CU priorities. As 2019 winds down, community banks and credit unions have worked hard to attract new customers and members and to retain existing ones.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Independent Banker
DECEMBER 31, 2019
“Our resolution is to continue to bring you the very best support for your prosperity, growth and success in the new year.”. As we enter a new year, we’re filled with a sense of anticipation for everything that will unfold in the coming 12 months. We see a world full of potential, which is exactly what inspires us to set our New Year’s resolutions. However, it takes hard work to hold onto those goals.
PYMNTS
DECEMBER 31, 2019
New Russian protectionist legislation takes aim at U.S. Big Tech companies as additional laws are being prepped to restrict content. According to The Hollywood Reporter (THR), all computers and mobile devices sold in Russia are required to have preinstalled Russian software effective July 1. Apple is among the many U.S. tech companies that are opposed to having to preinstall the Yandex Russian web browser and other apps, which would require additional licensing and development fees.
Payments Source
DECEMBER 31, 2019
With fintech firms seemingly stuck in neutral in their efforts to gain banking charters, alternative state licensing options could get another look in 2020.
PYMNTS
DECEMBER 31, 2019
A little more than a year ago, PYMNTS started tracking the race for the consumer’s whole paycheck between the two retail behemoths that have been expanding their respective ecosystems in the process: Amazon and Walmart. At the time, in November 2018, it became clear that the state of that race had changed. Walmart was leading that race then, according to PYMNTS analysis, since it accounted for 8.9 percent of consumer retail spending in the U.S., and 2.8 percent of all U.S. consumer spending.
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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
CFPB Monitor
DECEMBER 31, 2019
The CFPB has released its eighth annual report to Congress on college credit card agreements. The annual report is mandated by the CARD Act. (The first two reports were issued by the Federal Reserve Board.). The CARD Act requires mandatory reporting to the CFPB by card issuers on agreements with institutions of higher learning or certain affiliated organizations (such as alumni associations).
PYMNTS
DECEMBER 31, 2019
We may be present for an historic moment akin to the advent of electric lighting, or at least the leap from DVD to streaming TV: It’s the demise of the much-maligned paper check. That’s no optimistic, dawn-of-the-decade prediction – it’s happening fast, and that’s the whole point. The PYMNTS December 2019 Next-Gen AP Automation Tracker details explosive innovation in real-time payments for business, driven in no small part by accounts payable (AP) professionals.
Payments Source
DECEMBER 31, 2019
Cold, hard currency is still a crucial part of a competitive payments strategy, particularly in massive markets like Indonesia, Korea, Japan and India, says Rapyd's Joel Yarbrough.
PYMNTS
DECEMBER 31, 2019
For some people, it can seem almost utopian: The sight of countless commuters using bikes in certain European cities, and not just for recreation or short rides to the park, but for daily work and grocery trips, and even weekend journeys to the country. That is not the case in the U.S. for various reasons — among them, the lack of density in many areas, or the way automobiles dominate public spaces in others, as per law and tradition.
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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
Payments Source
DECEMBER 31, 2019
Reliance Industries Ltd. started testing its online shopping portal, moving a step closer to billionaire Mukesh Ambani’s goal of setting up a digital platform to take on e-commerce giant Amazon.com Inc. in India.
PYMNTS
DECEMBER 31, 2019
It’s that time of year when restaurants must shine and make some serious scratch. We are not just talking about the holiday season in general, but the upcoming New Year’s Eve celebrations, where fancy toasts are made over plates of good food among close friends and family members. We at PYMNTS are as festive as anyone else, and that’s why Karen Webster recently caught up with Andrew Robbins, co-founder and president at Paytronix , which sells digital ordering and guest engagement technology for
Payments Source
DECEMBER 31, 2019
The Toayuan Metro transportation company in Taiwan plans to launch a payment system to allow passengers using contactless cards to travel from the capital city of Taipei to the Toayuan International Airport.
PYMNTS
DECEMBER 31, 2019
A decline in ATM usage in the U.K. has left many people resorting to only using their local shops to withdraw cash, due to a declining number of bank branches and free-to-use ATMs. However, the Association of Convenience Stores (ACS) said that the Link service’s cut in fees that it pays to cash machine operators has more of them disappearing. According to the ACS, Link must preserve more of the machines, and reverse the cuts in fees.
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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.
Payments Source
DECEMBER 31, 2019
A California regulator on Monday denied a lending license to the point-of-sale financier Sezzle in a detailed written decision that could have broader consequences for upstart consumer lenders.
American Banker
DECEMBER 31, 2019
The merger of BB&T and SunTrust, the largest bank deal in over a decade, dominated news throughout the year; New York investigated the wage access app Earnin, which critics claimed was actually a stealth payday lender; Libor is going dark in 2021, and some banks aren’t ready; and more from this year’s most-read stories.
Current
DECEMBER 31, 2019
‘Tis a time of year for reflections and as we started to do our own, we realized oh how much has changed at Current. In February, we launched our personal checking accounts for adults. Now everyone could be a Current member, whether you’re over 18 with your own account, a parent needing a more efficient and educational way to pay your kids, or a teenager who got to boost having your very own debit card.
American Banker
DECEMBER 31, 2019
The largest digital token has posted gains of more than 9,000,000% since July 2010, according to data compiled by Bloomberg.
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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.
Bankelele
DECEMBER 31, 2019
A look at some of the Tax changes that become effective on January 1, 2020, as a result of the Finance Bill 2019 that was signed by the President on 7 November 2019. The highlight was the repeal of Section 33B of the Banking Act which had put an interest rate cap on commercial bank […].
American Banker
DECEMBER 31, 2019
Financial institutions should fully disclose their board composition to begin tackling diversity problems at the top.
The Emmerich Group
DECEMBER 31, 2019
The constant “need” to match rates to win a deal is a symptom, not the cause of the net interest margin crisis in banking today. The cause is much more profound. It’s inside each of your lenders, and it may be inside of you. Frankly, it’s not your fault (or theirs). It’s unconscious and. Continue Reading. The post How to Attack the Root Cause of Net Interest Margin Compression appeared first on The Emmerich Group.
American Banker
DECEMBER 31, 2019
Political uncertainty, sector-specific concerns as well as interest rate and labor trends may continue to depress commercial and industrial lending in the coming months.
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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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