Payments Dive
JULY 14, 2022
The Federal Reserve plans to unleash a U.S. real-time payments system next year in the form of FedNow, but it’s an open question as to whether, or how, consumers and businesses will adopt instant payments.
South State Correspondent
JULY 14, 2022
Examining Bond Portfolio Trends: Second Quarter 2022. Beginning in May 2012, we started tracking portfolio trends of our bond accounting customers here at the Correspondent Division of SouthState Bank. At present, we account for over 130 client portfolios with a combined book value of $13.5 billion (not including SouthState Bank), or $104 million on average per portfolio.
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Payments Dive
JULY 14, 2022
In a blog post this week, the director reiterated that payments processors, credit card issuers and debt collectors are attracting scrutiny from his agency.
Bobsguide
JULY 14, 2022
Compass Plus Technologie s has picked up two awards in the Global Banking & Finance Awards 2022. The awards have been running since 2011 and aim to recognise businesses driving innovation, progressive and inspirational changes within the global financial sector. The first accolade received by Compass Plus Technologies was for Best Banking Technology Overhaul Project in recognition of its recent achievements with the Central Bank of Mongolia.
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.
CFPB Monitor
JULY 14, 2022
On June 27, the Oregon Department of Consumer and Business Services’ (“Department”) Division of Financial Regulation (“Division”) finalized new regulations implementing Senate Bill 485 , which requires companies to obtain a license from the Division in order to service student loans in Oregon, unless an exemption applies. The new regulations also establish related servicer requirements and prohibited acts, the supervisory authority of the Director of the Department (“Director”), and the obligat
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
SWBC's LenderHub
JULY 14, 2022
The first days of the fall semester are just around the corner. For many parents, this means their kids are going off to college or returning to high school driving their first vehicles. It can be a scary time for everyone involved, but arming your borrowers who have young drivers with information and resources to help navigate their kids’ early driving experience might just keep them from slamming feet on the imaginary passenger-side breaks.
Bobsguide
JULY 14, 2022
BANKING CIRCLE RESEARCH SHOWS NOW IS THE TIME TO GET ON BOARD WITH DIGITAL CURRENCIES. Latest white paper suggests banks should prepare for crypto – or risk falling behind the competition. London, 23rd June 2022 – Innovative tech-led Payments Bank, Banking Circle, has commissioned a report on what banks need to do to prepare for the widespread adoption of digital currencies.
CFPB Monitor
JULY 14, 2022
On July 8, with limited fanfare, the Department of Treasury issued a request for public comment regarding the March 9, 2022 Executive Order entitled “Ensuring Responsible Innovation in Digital Assets” (the “Order”). The request for comment poses five core questions, each with multiple subparts, on a spectrum of topics of great complexity. Nonetheless, the request for comment sets a deadline of only 30 days – August 8, 2022 – for responses.
TheGuardian
JULY 14, 2022
Largest US bank saw net income fall 28% from April to June and is concerned about economy and geopolitical tensions JP Morgan Chase, the largest US bank, saw its net income fall 28% over the months of April to June as it boosted reserves to cover possible customer loan defaults amid concern over the economy and geopolitical tensions. The investment bank’s profits for the second quarter came in at $8.65bn, or $2.76 per share, far less than $11.95bn, or $3.78 per share over the same period a year
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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
JULY 14, 2022
The California Department of Financial Protection and Innovation (DFPI) has filed its opposition to Opportunity Financial, LLC’s (OppFi) Demurrer to the DFPI’s cross-complaint. In the Demurrer , OppFi asks the California trial court to reject the DFPI’s attempt to apply California usury law to loans made through OppFi’s partnership with FinWise Bank (Bank) by alleging that OppFi is the “true lender” on the loans.
CB Insights
JULY 14, 2022
JP Morgan (JPM) is one of the leading financial institutions globally with over $3T in assets. While the company is largely known for its wealth management services, it has made key acquisitions and investments in the last 2 years that expand its offerings. JPM’s investment activity reveals a deliberate strategy to develop its technological and geographical footprint.
BankInovation
JULY 14, 2022
The boss of UK digital bank Monzo Bank Ltd. said he’s targeting growth rather than immediate profit during a turbulent time for the fintech industry, after nearly doubling annual revenue while widening losses. Monzo is still hiring and aims to build out its buy now, pay later service while looking to expand in the US, […].
The Paypers
JULY 14, 2022
Cards-as-a-Service (CaaS) platform for MENA and Pakistan, SimpliFi , and card processor and payment services provider licensed and regulated by the Central Bank of Bahrain, Infinios , have partnered to support the growing fintech ecosystem in the MENA region.
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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
JULY 14, 2022
Fintechs are focusing on automation solutions for lenders and manufacturers in an effort to streamline the car buying and financing process and attracting increased investment from venture capital firm Autotech Ventures along the way. Autotech has invested more than $500 million into about 40 startups in the past seven years, most recently buy-here-pay-here platform Carpay, powersports marketplace provider Rollick and online recreational vehicle rental […].
The Paypers
JULY 14, 2022
Germany-based financial service provider iBanFirst has announced cooperating with fintech ACE Alternatives, which focuses on the management of alternative investments.
BankInovation
JULY 14, 2022
Complying with Bank Secrecy Act (BSA) and anti-money laundering (AML) regulations is a core competency for any bank. But banks’ business-account customers??Well, it depends on the customer. Although banks mandate that their business customers implement BSA/AML compliance tools, sometimes those customers — particularly startups and emerging players — are unprepared for the level of engineering […].
The Paypers
JULY 14, 2022
LATAM’s largest digital wallet with over 62 million customers in Brazil, PicPay , has become an official bank.
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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.
BankInovation
JULY 14, 2022
JPMorgan Chase will continue investing in technology in the event of a recession as its artificial intelligent (AI) capabilities monitor risk and losses, Chief Executive Jamie Dimon said today during the bank’s second-quarter earnings call. “We spent $100 million building certain risk and fraud systems so that when we process payments on the consumer […].
The Paypers
JULY 14, 2022
Fundof , a Sweden-based platform that provides payments for creators, has partnered with Onfido and Intergiro to launch a free Visa debit card and payment account conceived for creators.
American Banker
JULY 14, 2022
The Paypers
JULY 14, 2022
Subskribe , a US-based quoting and billing platform for Software-as-a-Service (SaaS) companies, has launches a Revenue Recognition module for its Adaptive Quoting and Billing Platform.
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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 Paypers
JULY 14, 2022
Finastra and HSBC have partnered to distribute HSBC’s FX services via Finastra’s FusionFabric.cloud platform under a Banking-as-a-Service (BaaS) experience.
The Paypers
JULY 14, 2022
A survey commissioned by Sinch has shown that consumers want more personalised mobile banking experiences that make it easy for them to get 1:1 support anywhere.
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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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