Thu.Sep 15, 2022

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Study: Construction loan monitoring decreases loan defaults

Abrigo

Monitoring construction loans improves outcomes, study finds. Researchers find construction loans with more on-site inspections are less likely to default, suggesting that loan monitoring adds value to lenders. You might also like this webinar, "How to manage a high-performing construction loan portfolio." WATCH. Takeaway 1 "Bank Monitoring with On-Site Inspections" will be presented later this month and claims to be the first empirical study of bank monitoring within non-syndicated loans. .

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Kwasi Kwarteng to lift cap on banker bonuses; John Lewis slumps to £99m loss – business live

TheGuardian

Chancellor reportedly plans to lift the EU-imposed banker bonus cap as part of post-Brexit reforms; John Lewis says ‘uniquely uncertain’ outlook puts staff bonuses at risk The John Lewis Partnership slumped to a first half loss of £99m driven by soaring inflation, as the department store group warned a “uniquely uncertain” outlook in the run-up to Christmas would put the staff annual bonus at risk this year, reports my colleague Mark Sweney.

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This week’s podcast episode: CFPB Director Chopra speaks to the media: a look at the takeaways, with special guest Jon Hill of Law360

CFPB Monitor

Jon Hill of Law360 was among a group of reporters to whom Director Chopra recently gave a series of interviews in which he provided significant insights into his views on a range of topics. We review recent CFPB and other agency developments that provide context for Mr. Chopra’s comments, discuss what his comments reveal about his approach to use of CFPB authorities, and highlight the important takeaways for banks and other companies.

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Adopting a Digital-First Collections Communication Strategy

SWBC's LenderHub

From our earliest days of figuring out how to work Zoom and Teams from our impromptu home offices to helping our children navigate online classrooms, the COVID-19 pandemic rapidly accelerated our collective competence using digital platforms to interact with the world.

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Digital Transformation: Accelerating ROI and Growth in Commercial Lending

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

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Report: CFPB unlikely to undertake consumer arbitration rulemaking in near future

CFPB Monitor

According to a report appearing in today’s Law360 , CFPB Director Rohit Chopra has indicated that the agency appears unlikely, at least in the near future, to undertake new rulemaking that would regulate the use of consumer arbitration agreements. The CFPB’s previous rule—which would have forbidden companies from including class action waivers in consumer arbitration agreements— was overridden by Congress in 2017 under the Congressional Review Act.

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Linux Foundation to form OpenWallet Foundation

The Paypers

The Linux Foundation , a non-profit organisation enabling open-source innovation, has announced the intention to form the OpenWallet Foundation (OWF).

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How to Deploy an Omnichannel Payment Strategy

BankInovation

Being in the payment industry for nearly two decades, now, more than ever, we are seeing consumer experience and the demand for self-service solutions causing significant growth in online and mobile payments. Particularly, in the last couple of years, we’ve seen self-service channels are growing at about three times the rate of “agent-led” calls. There are […].

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Saudi Credit Bureau Delivers Access To Loans For Millions with Score

FICO

Home. Blog. FICO. Saudi Credit Bureau Delivers Access To Loans For Millions with Score. SIMAH wins FICO ® Decisions Award for financial inclusion using FICO ® Scores. Saxon Shirley. Fri, 09/09/2022 - 03:42. by Nikhil Behl. expand_less Back To Top. Thu, 09/15/2022 - 06:00. Vision, Advocacy And Education. The Saudi Credit Bureau (SIMAH) , a leader in credit bureau information management in the Middle East and North Africa (MENA), has administered the successful rollout and adoption of the FICO® Sc

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Mastercard teams with Copenhagen Fintech

The Paypers

Mastercard has partnered with Copenhagen Fintech to strengthen the collaboration with the Nordic fintech ecosystem.

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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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What to look out for in the FCA’s improved representatives regime

The Banker

The UK’s financial watchdog is introducing new rules to its appointed representatives regime amid consumer-harm concerns. Breakdown by Nikki Worden, Anna Perry and Owen Baldwin of Osborne Clarke.

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LianLian Global launches cross-border supplier payments guarantee to China

The Paypers

China-based cross-border payments provider LianLian Global has enabled online merchants to perform transparent, compliant, and safe cross-border payments to China.

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CFPB's Chopra calls level of P2P fraud 'frightening'

American Banker

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Fintech startup Power raises USD 316 million in funding

The Paypers

US-based fintech startup Power has raised USD 316 million in debt and equity funding in order to launch its full-stack credit card issuance platform.

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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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CFPB vows to rein in buy now/pay later lenders

American Banker

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Securitize helps tokenise interest in KKR fund on Avalanche

The Paypers

Global investment management company KKR has teamed with digital asset securities company Securitize to tokenize KKR’s Health Care Strategic Growth Fund II on the Avalanche blockchain.

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HUD probe into valuation bias focuses on Appraisal Foundation

American Banker

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Payload partners with JP Morgan

The Paypers

Payload , a US-based fintech, has partnered with JP Morgan to deliver ACH, card network, real-time payments through a unified API platform.

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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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Bank of America offers up to six weeks paid sabbatical for longtime workers

American Banker

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Amadeus, Uplift launch BNPL travel payments for US and Canada

The Paypers

BNPL provider Uplift has announced a partnership with e-payments processor for the travel industry Amadeus to boost in-travel UX for US and Canadian customers.

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Romney leads bipartisan push to give ILC applications a fair shake

American Banker

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ETFmatic partners Aion Bank to launch an investment solution

The Paypers

White-label wealth management platform ETFmatic has partnered with Belgium-based Aion Bank to provide an end-to-end investment solution to European companies.

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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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Challenger bank for immigrants Majority raises its Series B

American Banker

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Engage People and FreedomPay expand the use of loyalty points as currency

The Paypers

Canada-based loyalty network Engage People has partnered with commerce platform FreedomPay to offer PwP capabilities to retailers’ physical locations.

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Bank executives drop hints about Q3 results

American Banker

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Jeton Wallet and Sumsub partner for a better onboarding experience

The Paypers

UK-based payments company Jeton has partnered with identity verification provider Sumsub in order to provide a more secure customer onboarding experience.

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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.