BankInovation
MARCH 16, 2023
LONDON — Consumers continue to utilize embedded payment options regularly— from Amazon purchases to digital wallets and even the Starbucks app.
Payments Dive
MARCH 16, 2023
The central bank is targeting July, as opposed to the earlier end of its prior range, for starting its new real-time payments service.
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Perficient
MARCH 16, 2023
In our first blog in this series, Getting Started With Client Remediation (Part 1 of 3) , we discussed how to get a client remediation program started, what levels of the organization should be involved in client remediation programs, and how ultimately good things, such as lower risks, improved technology, and risk monitoring, may result from a successful client remediation program.
Payments Dive
MARCH 16, 2023
The Silicon Valley Bank downfall that sent shockwaves through the financial industry forced fintechs, such as Affirm and Marqeta, to react fast.
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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
SWBC's LenderHub
MARCH 16, 2023
As we have been saying for several of our previous quarterly economic updates, as inflation goes, so goes the U.S. economy. A quick and rapid descent of inflation will take pressure off the Fed to continue raising rates and the possibility of a soft landing improves. The longer inflation remains elevated, the more aggressively the Fed will have to act, likely triggering a recession.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
CFPB Monitor
MARCH 16, 2023
On February 27, 2023, the Consumer Financial Protection Bureau (CFPB) entered into a consent order against RMK Financial Corporation d/b/a Majestic Home Loan (RMK), a California-based mortgage lender, based on allegations that it falsely implied government endorsement of its home loans in its marketing. The consent order, which addressed numerous alleged statutory and regulatory violations and a failure to comply with an earlier consent order, prohibits RMK from engaging in any mortgage lending
TheGuardian
MARCH 16, 2023
Rolling coverage of the latest economic and financial news, as Credit Suisse gets central bank support to stem crisis rocking financial markets Credit Suisse: what is happening at Swiss bank and should we be worried? Credit Suisse’s largest shareholder, Saudi National Bank, has said the market turmoil in shares of the Swiss lender was “unwarranted”.
CFPB Monitor
MARCH 16, 2023
In recent months, debt relief law firms have mailed volumes of cease and desist letters, credit reporting disputes, and debt validation requests to creditors. These mailings, which are typically lacking in credibility, place an undue burden on businesses. We first discuss responsive strategies creditors should consider for each type of mailing, including what obligations, if any, a creditor has to respond and the impact of state law.
TheGuardian
MARCH 16, 2023
It took decades to force banks to abandon racist redlining. We don’t have decades to avert catastrophic climate crisis The collapse of Silicon Valley Bank will bring many forms of fallout. One of the most obvious consequences is that the biggest banks – Chase, Citi, Wells Fargo, Bank of America – will probably get even bigger. That is why we’re joining protests across the United States outside hundreds of those banks’ branches on Tuesday, 21 March: if they’re going to hold that much power over t
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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
MARCH 16, 2023
Discover Financial Services is democratizing its technology by allowing engineers and outside developers to share their knowledge in a newly launched platform. The platform, Discover Technology Experience, allows developers to share ideas and work on technologies such as robotic process automation (RPA).
TheGuardian
MARCH 16, 2023
Bank of America, Goldman Sachs, JP Morgan agree to prop up troubled bank after its shares tumbled amid wider turmoil Wall Street’s giants moved to end the US’s spiraling banking crisis on Thursday by agreeing to prop up troubled First Republic, a mid-sized bank whose shares have been pummeled amid a wider banking turmoil. Bank of America, Goldman Sachs, JP Morgan and others will deposit $30bn in First Republic, which has seen customers yank their money following the collapse of Silicon Valley Ba
ABA Community Banking
MARCH 16, 2023
As regulators conduct their reviews, Brown said they should look for “broader vulnerabilities” in the banking system and take steps to mitigate them. The post Sen. Brown asks regulators for ‘comprehensive review’ of bank failures appeared first on ABA Banking Journal.
TheGuardian
MARCH 16, 2023
Citigroup, Goldman Sachs, JP Morgan and Wells Fargo are among the banks discussing a lifeline for the San Francisco-based lender Some of the US’s biggest banks are weighing a rescue bid for First Republic, a mid-sized bank whose shares have been pummeled amid a wider banking turmoil. Citigroup, Goldman Sachs, JP Morgan and Wells Fargo are among the banks discussing a lifeline for the San Francisco-based lender, according to the Wall Street Journal.
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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
MARCH 16, 2023
OpenAI will use Stripe Inc. to take payments and subscriptions for its artificial intelligence tools ChatGPT and Dall-E, which it’s trying to monetize after capturing the public imagination.
TheGuardian
MARCH 16, 2023
In the US, Biden has assured voters that no taxpayer money would go to at-risk banks, but trust in the system relies on such support Banks are a special type of organisation. They take deposits and lend these funds to borrowers over long periods. It is pretty remarkable when you think about it. Banks make loans over many years, but you and I can withdraw the savings that banks use to fund the loans instantly.
BankInovation
MARCH 16, 2023
LONDON – Banks continue to grapple with idea of buy vs. build, but partnerships with fintechs allow the entities teach each other about innovation and customer experience.
TheGuardian
MARCH 16, 2023
Half-point rise comes as European markets recover from sell-off following Credit Suisse crisis The European Central Bank has raised interest rates across the eurozone by 0.5 percentage points, despite fears that higher borrowing costs could set off a domino effect across the financial sector amid jitters about the stability of Credit Suisse. Officials at the ECB, the central bank covering the 19-member euro-bloc, said inflation was likely to remain high “for too long”, forcing it to continue wit
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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.
BankInovation
MARCH 16, 2023
Banking is going digital fast–and you need to figure out how to compete with digital-first fintech challengers. Here’s what you need to know to stay competitive.
TheGuardian
MARCH 16, 2023
Janet Yellen, the US treasury secretary, told Congress that the recent collapses of two US banks, Silicon Valley Bank and Signature Bank, does not reflect on the overall strength of the US banking system. She told Congress the US banking system 'remains sound', claiming that the government's swift response to the failures helped to restore public confidence in the banking system.
TheGuardian
MARCH 16, 2023
Leisurely turnaround timetable can’t take many more setbacks after a crisis 10 years in the making Midnight manoeuvres by central bankers don’t always work, but the Swiss National Bank clearly did the right thing by advancing a 50bn Swiss francs (£44bn) liquidity facility to beleaguered Credit Suisse. The action has bought some time for everybody to breathe and take stock.
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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.
TheGuardian
MARCH 16, 2023
European Central Bank could opt for smaller increase as concerns spread over health of banking system The European Central Bank is facing a dilemma over whether to push ahead with its plans for a large interest rise on Thursday amid fears over the strength of the banking system after Wednesday’s heavy sell-off of the Swiss banking firm Credit Suisse.
The Paypers
MARCH 16, 2023
Open Banking SaaS platform tell.money has partnered with risk intelligence platform KYP for ongoing merchant and third-party relationships management and risk monitoring offering.
The Banker
MARCH 16, 2023
The world became addicted to free money, but now the party is over; what does this say about the health of the broader financial system, asks Anita Hawser.
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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.
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