Chatbots lead the way in AI banking
ATM Marketplace
MAY 21, 2024
ATM Marketplace spoke with Bank of America about the Erica chatbot and its continued development as an AI banking tool.
Tue.May 21, 2024
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CFPB to treat BNPL loans like credit cards
Payments Dive
MAY 21, 2024
“Whether a shopper swipes a credit card or uses Buy Now, Pay Later, they are entitled to important consumer protections under longstanding laws and regulations,” CFPB Director Rohit Chopra said.
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What is a DSCR Loan? Real Estate Investor's Guide
Commercial Lending USA
MAY 21, 2024
DSCR loans, "Debt Service Coverage Ratio loans," are financing for real estate investors that put the property's cash flow ahead of standard creditworthiness checks. This makes them a valuable tool for investors who want to grow their portfolios.
Real-time lessons for FedNow from Brazil, India
Payments Dive
MAY 21, 2024
The fledgling U.S. instant payments system can learn from real-time systems that have flourished in Brazil and India using QR codes and broad missions, say industry professionals.
Case Study: First Mid Bank Fast-Tracks New Market Entry in Commercial Lending
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Discover First Mid Bank's Expansion Success with Our Case Study! Discover how First Mid Bank & Trust fast-tracked market expansion through advanced automation and compliance solutions. This case study reveals their journey from facing challenges in Texas' complex legal landscape to achieving rapid market entry with GoDocs' innovative commercial closing platform.
‘It’s not vital to spend five days a week in the office’: the bank boss who works from home
TheGuardian
MAY 21, 2024
While the big beasts of Wall Street rail against WFH, Mike Regnier of Santander UK says he wouldn’t have taken the job if he had had to commute all week At a time when banking bosses from Wall Street to Canary Wharf have been cracking down on working from home, Santander UK’s chief executive remains an outlier. While Goldman Sachs’s David Solomon has described home working as an “aberration” , and JP Morgan’s Jamie Dimon calls himself a “skeptic” of the trend that took off during the pandemic,
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Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
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Who could replace Martin Gruenberg at the FDIC?
American Banker
MAY 21, 2024
Martin Gruenberg's ouster from the Federal Deposit Insurance Corp. leaves the White House with the difficult task of finding a regulator willing to serve a roughly six month term atop of beleaguered agency.
JPMorgan KYC operations up to 90% more productive with AI
BankInovation
MAY 21, 2024
JPMorgan Chase is reaping rewards in know-your-customer operations from deployment of AI. The bank processed 155,000 know-your-customer (KYC) files in 2022, using 3,000 people to accomplish the task. “By the end of next year, we will process 230,000 files with 20% less of the people.
Are central banks about to become centers of crypto innovation?
American Banker
MAY 21, 2024
The Bank for International Settlements' Innovation Hub is doing important work on integrating new technology into the global financial system. The next step is to bring both banks and nonbanks into the discussion.
Millennial Homebuyers: Separating Fact from Fiction in the Vermont & New Hampshire Housing Market
Ublocal
MAY 21, 2024
Embarking on the journey to homeownership can be both exciting and overwhelming, especially when you’re surrounded by a plethora of myths and misconceptions. As a first-time homebuyer, you might have heard that renting is more affordable than owning, or that a flawless credit score is essential. But how accurate are these claims? In this guide, we’ll debunk common myths about homeownership and highlight valuable programs available for first-time homebuyers in Vermont and New Hampshir
Exploring the Liability Shift: A Comprehensive Guide to Fraud Loss Responsibility and Mitigation
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Shifting liability for digital fraud losses represents a significant challenge for financial institutions and payment service providers. In response to the global surge in digital fraud, regulators are introducing policies that transfer the cost of fraud from defrauded customers to financial institutions. ThreatMark’s newly released white paper, "The Liability Shift: Understanding Fraud Losses Responsibility and Mitigation," provides an in-depth analysis of this shift, its implications, and stra
GOP tees up crypto vote with hopes of Democratic support
American Banker
MAY 21, 2024
The bill spells out how the Securities and Exchange Commission can and can't address crypto custody at banks and is getting a wave of bipartisan traction on Capitol Hill. But some academics and consumer advocates are concerned that the legislation could allow banks to bypass regulations.
DSCR Loan Pros and Cons for Commercial Real Estate Investors
Commercial Lending USA
MAY 21, 2024
Discover DSCR loan pros and cons for commercial real estate investors, focusing on property cash flow to see if this financing suits your investment goals.
Marqeta, MoneyLion and Verituity: Adapting to the fintech downturn
American Banker
MAY 21, 2024
These three payment firms are working to grow revenue by pivoting to new markets and technologies, all while waiting for a turnaround in the industry.
Podcast: 35% of banks using AI, Hapax COO says
BankInovation
MAY 21, 2024
Financial institutions are looking to AI to streamline daily tasks.
Live Demo: How to Achieve Reconciliation Zen
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Automation generally supercharges any process and brings its value to the forefront. See how infusing automation such as ART (our month-end close solution), into your close can get you to the next level of closing. We will share a live demo of SkyStem's solution, ART and share the key elements of month-end close automation. Through ART, we'll take a look at: What month-end close automation entails Which process steps can and should be automated Benefits of achieving process automation, and Why i
SoLo Funds vows to fight CFPB lawsuit
American Banker
MAY 21, 2024
The company changed several of the practices the agency complained about several years ago, such as threatening to report nonpaying borrowers to credit bureaus, co-founder Rodney Williams says.
qomodo raises GBP 1.3 mln for advanced IoT cybersecurity solutions
The Paypers
MAY 21, 2024
Italy-based fintech startup qomodo has secured GBP 1.3 million in Pre-Seed funding to further augment its cybersecurity platform and support outreach in Europe and the US.
California community bank to pay hefty premium for in-state rival
American Banker
MAY 21, 2024
Irvine-based CBC Bancorp's $121 million deal for Bay Community Bancorp in Oakland stands out at a time when high rates have put a damper on both the number of deals taking place and the multiples sellers are paying.
BaFin imposes EUR 9.2 million fine on N26
The Paypers
MAY 21, 2024
The German Federal Financial Supervisory Authority ( BaFin ) has demanded that digital bank N26 pay nearly EUR 9.2 million due to the latter’s money laundering misconduct.
New York Lien Law Essentials: 5 Key Facts for Commercial Lenders
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Dive into the complexities of New York lien laws with our comprehensive eBook, 'New York Lien Law Essentials: 5 Key Facts for Commercial Lenders.' In this detailed guide, we explore the critical formalities necessary for lenders navigating ground-up construction and fix-and-flip projects in the New York market. From documentation requirements to the implications of non-compliance, learn how to safeguard your lending position and prioritize legal adherence.
JPMorgan Chase shareholders reject splitting Jamie Dimon's duties
American Banker
MAY 21, 2024
Shareholders at America's largest bank voted against requiring an independent board chair, though the proposal drew more support than similar measures did recently at other megabanks. The vote came just one day after Dimon signaled that his departure as CEO may be on the horizon.
SUNRATE joins Mastercard's Priceless Planet coalition
The Paypers
MAY 21, 2024
Asia-based B2B digital payments platform SUNRATE has joined Mastercard Priceless Planet Coalition to fight climate change through funding the restoration of 100 million trees.
The FDIC will enter the post-Gruenberg era. But when?
American Banker
MAY 21, 2024
Getting appointees confirmed by the Senate can be a time-consuming and painstaking process in ideal circumstances, and doing it in an election year amid a scandal is far from ideal. Even so, the White House and Senate Democrats should be motivated to move fast.
Parkopedia, Irdeto to improve EV charging
The Paypers
MAY 21, 2024
UK-based connected car services provider Parkopedia has entered into a partnership with Irdeto to launch a multi-contract solution to simplify the EV charging process.
Thinking About How To Lessen Your Burden During Month-End Close? Skystem Can Help!
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Most people dread the nearing of the month-end close and reconciliation process, and who can blame them? It's typically a tedious, long, stressful process; but it doesn't have to be. Implementing automation into your month-end process can significantly reduce this headache by automating up to 40% of your reconciliation and saving nearly 30% of your time spent.
How to Capitalize on Competitors Getting Acquired by Larger Institutions
Image Works Direct
MAY 21, 2024
When it comes to picking a bank or credit union, local financial institutions undoubtedly have an edge over the big banks. According to a study from The Harris Poll, 58% of consumers prefer holding an account with their local or regional financial institution, which may be good news for you if one of your competitors is acquired by a bigger bank with weaker community ties.
CyberArk to acquire Venafi in USD 1.54 billion deal
The Paypers
MAY 21, 2024
CyberArk has announced its plan to acquire cybersecurity firm Venafi from private equity firm Thoma Bravo in a transaction valued at approximately USD 1.54 billion.
California community banks to merge in $63 million deal
American Banker
MAY 21, 2024
West Coast Community Bancorp agreed to acquire 1st Capital Bancorp in an all-stock deal slated to close in the fourth quarter.
Companies open to implement digital ID technology
The Paypers
MAY 21, 2024
Research conducted by Forrester , commissioned by Regula , has revealed that 42% of organisations globally are actively integrating digital identity solutions into their systems.
Digital Transformation: Accelerating ROI and Growth in Commercial Lending
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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
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