Mon.Mar 27, 2023

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How interest rate risk sneaked up on dozens of community banks

American Banker

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Tandym adds retailers for rewards programs

Payments Dive

The private label digital credit card company is stacking up online retail customers, with plans to add debit options and in-store clients this year.

Retail 459
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Commercial banks must now focus on fundamentals

Accenture

Having pulled through the Covid pandemic, the unravelling of international supply chains and a global energy crunch, commercial banks must now grapple with a spike in interest rates and the collapse of some high-profile peer institutions. Rarely have I seen the banking industry in such flux and uncertainty. How should banks respond? My advice: Pause… The post Commercial banks must now focus on fundamentals appeared first on Accenture Banking Blog.

Industry 389
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Examining “Britcoin”: Will a Digital Pint Be a Digital Pound the Earth Around?

Perficient

At sea level, one US liquid pint of water weighs 1.04318 pounds (16.6909 oz), which gives rise to a popular saying: “A pint’s a pound, the world around.” While the recent bank failures of Silicon Valley Bank and Signature Bank have many US congressmen and citizens wondering about the future of cryptocurrencies, across the pond, the Bank of England is soliciting input into the possibilities of issuing a digital pound.

US 294
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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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BNPL remains mainly absent from consumer credit histories

Payments Dive

The lack of BNPL data being furnished to credit bureaus more than a year after inclusion efforts were announced points to the complexity involved with fitting the burgeoning payment method into the traditional credit scoring framework.

Maine 300

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Visa says the recession is irrelevant at Merchant Risk Council 2023

Payments Dive

Visa says a U.S. recession is nothing to worry about, but heightened fraud paints a different story.

Fraud 388
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Calculating a Bank's Unsecured Deposits

Jeff For Banks

The critical fact contributing to the Silicon Valley Bank and Signature Bank's demise was the level of uninsured deposits at each institution, estimated to be at 94% and 90% respectively. Many community bankers received concerned calls after the bloody weekend of March 10th through 12th from depositors that had deposits that exceeded the FDIC insured limits.

FDIC 78
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3 ways to increase on-time payments during an economic downturn

Payments Dive

Discover how to increase on-time payments and make flexibility and payment convenience a priority at your business.

Payments 221
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Second Circuit rules that CFPB’s funding does not violate Appropriations Clause

CFPB Monitor

A three-judge panel of the U.S. Court of Appeals for the Second Circuit has unanimously ruled that the CFPB’s funding structure does not violate the Appropriations Clause of the U.S. Constitution. In its decision, the panel expressly declined to follow the Fifth Circuit panel decision in Community Financial Services Association of America Ltd.

America 78
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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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Could office blocks be the next big casualty of the banking crisis?

TheGuardian

Higher interest rates and cuts in lending could pile pressure on commercial property sector after hit from hybrid working The new central London headquarters of the property company CBRE could easily be mistaken for a hotel, given its open lounges with comfy seating, potted plants, coffee and tech bars and library. In the post-pandemic property world, phrases such as “hotelification” and “earning the commute” have become commonplace among executives trying to lure back workers used to working fr

Lending 85
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Do tech start-ups need their own bank?

The Banker

Collapsed firms Silicon Valley Bank and Silvergate Capital catered to the specific financing needs of tech start-ups and crypto firms. Who understands their needs now? Anita Hawser reports.

Capital 69
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Acronis partners with Intel to improve security offerings

The Paypers

Cyber protection provider Acronis has partnered with Intel to improve its security defence against file-less attacks using the latter’s Threat Detection Technology, Intel TDT.

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Saudi National Bank chair resigns after Credit Suisse comments

TheGuardian

Ammar Al Khudairy’s remarks about Swiss lender spurred investor panic that led to emergency takeover The chair of the Saudi National Bank has resigned for “personal reasons” less than two weeks after his comments spurred investor panic over Credit Suisse that ended in an emergency takeover by its larger Swiss rival, UBS. The Saudi National Bank (SNB), which was Credit Suisse’s largest shareholder, announced on Monday that it had “accepted” Ammar Al Khudairy’s resignation, and that he would be im

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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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PAYSTRAX launches fraud management platform with DisputeHelp

The Paypers

Lithuania-based payment service provider PAYSTRAX has partnered with DisputeHelp to provide merchants with dispute management for transactions, chargebacks, and fraud.

Fraud 69
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Market Trend Report: Cross-border payments for SMB leaders

CB Insights

What are cross-border payments for SMBs? Cross-border payments for small and medium-sized businesses (SMBs) include companies that enable SMBs to accept payments and send funds to other businesses internationally. Many providers offer financial infrastructure and application programming interfaces (APIs) that help companies operate despite borders. Some companies build products like multi-currency debit cards and other online payment capabilities.

Trends 60
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BIS's Nexus prototype links Eurosystem, Malaysia and Singapore payment systems

The Paypers

The Bank for International Settlements (BIS) Innovation Hub Singapore Centre has developed the Nexus concept of a multilateral network connecting multiple domestic instant payment systems (IPS).

System 64
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Market Trend Report: Institutional staking for institutional investors & traders

CB Insights

What is institutional staking? Institutional staking companies in this market offer yield generation for institutional investors through staking, where crypto assets are allocated to process transactions and secure protocols (e.g., Ethereum) in exchange for rewards. Staking providers run nodes (a requirement to stake) as a service for clients, eliminating the technical overhead that institutional investors face when setting up and managing their own nodes.

Trends 60
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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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Washington State Capital Gains, Er, Excise Tax

TrustBank

As some of you may recall, the Washington state legislature had passed a 7% tax on capital gains on the sale of certain assets. This was to start January 1, 2022. Before it could take effect a trial court in Douglas County ruled that this was an invalid income tax in the state of Washington. In January of this year the Washington state Supreme Court heard arguments to sort this out.

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Enterprise spreadsheet risk management in 2023

BankInovation

As business reconsiders their budgets this year, many are already taking extra cuts in 2023. We’ve already seen some layoffs at major banking and financial institutions, and if a recession happens, as firms such as BlackRock and JP Morgan have predicted, this will likely continue.

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Silicon Valley Bank: most of failed lender bought by First Citizens

TheGuardian

Collapse of tech sector lender will cost about $20bn in deposit insurance payouts, say US regulators The failed Silicon Valley Bank (SVB) will be mostly taken over by First Citizens, a North Carolina lender, and its collapse will cost $20bn (£16bn) in deposit insurance payouts, US regulators have said. First Citizens will take on all $119bn in deposits and loans from the entity set up after SVB’s collapse earlier this month.

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5 questions with … KeyBank EVP of Payments Brandon Nowac

BankInovation

KeyBank Executive Vice President of Payments Brandon Nowac is focused on delivering tech-forward automation solutions to the bank’s third-party fintech partners and forming additional partnerships in the year ahead.

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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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Can Australia’s banks withstand the contagion stalking the global finance sector?

TheGuardian

The seeds of a shock have been planted. The question is whether that will grow into a threat to bank stability and the broader economy Follow our Australia news live blog for the latest updates Get our morning and afternoon news emails , free app or daily news podcast Australian banks are susceptible to a shock – but not necessarily for the reasons you think.

US 47
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PNC Financial ups digital outreach to delinquent customers

BankInovation

LAS VEGAS — PNC Financial Services is leaning on digital outreach to decrease defaults and communicate with borrowers at risk of delinquency. “We’re up to about 85% of unique delinquent customers receiving some sort of digital outreach,” Anthony Hark, senior vice president of collections and recovery at PNC, said during CBA Live.

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Gig economy workers need banking support

The Banker

Singapore has called for fintechs to provide stronger safety support for their staff, but globally, gig economy workers are often let down by the banking sector. Kimberley Long reports.

Fintech 36
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First Citizens to buy SVB after biggest failure since 2008

BankInovation

First Citizens BancShares Inc. agreed to buy Silicon Valley Bank after a run on deposits wiped out the company in the biggest US bank failure in more than a decade.

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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.