How and why ATMs help the underbanked
ATM Marketplace
MAY 2, 2023
Do bitcoin ATMs helped the unbanked and underbanked? And what role do regulations and cash usage play?
Tue.May 02, 2023
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CSI targets $1B in annual revenue
Payments Dive
MAY 2, 2023
The company that provides community banks with payments, fintech and other services is gunning for growth with new private equity capital.
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FTP – Another Bank Failure and Another Learning Opportunity
South State Correspondent
MAY 2, 2023
Last week, we published an article [ here ] discussing how fair value accounting for assets and liabilities may have prevented the failure of Silicon Valley Bank, even if sound risk mitigation practices were not resolutely embraced by management. We argued that valuing assets at historical value or measuring net interest margin (NIM) is not only a static view of cash flow but also backward-looking.
FDIC proposes higher insurance coverage for payroll accounts
Payments Dive
MAY 2, 2023
Under the agency’s targeted coverage scenario, accounts used for payment purposes — specifically, business payment accounts— would merit higher deposit insurance coverage.
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
FTP – Another Bank Failure and Another Learning Opportunity
South State Correspondent
MAY 2, 2023
Last week, we published an article [ here ] discussing how fair value accounting for assets and liabilities may have prevented the failure of Silicon Valley Bank, even if sound risk mitigation practices were not resolutely embraced by management. We argued that valuing assets at historical value or measuring net interest margin (NIM) is not only a static view of cash flow but also backward-looking.
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CFPB and federal banking agencies issue joint statement on LIBOR transition; CFPB issues interim final rule on discontinuation of LIBOR
CFPB Monitor
MAY 2, 2023
Last week, the CFPB, together with the Federal Reserve Board (Board), FDIC, OCC, and NCUA, issued a “ Joint Statement on Completing the LIBOR Transition.” The agencies issued the statement to remind supervised institutions that LIBOR will be discontinued on June 30, 2023 and to reiterate their expectations that institutions with LIBOR exposure should complete their transition of remaining LIBOR contracts as soon as possible. .
Microsoft launches Teams Payments app for SMBs
The Paypers
MAY 2, 2023
Microsoft has partnered with Stripe , PayPal , and GoDaddy to launch a Microsoft Teams payments app to help SMBs in the US and Canada manage and collect payments.
We’re in this together
Realwired Appraisal Management Blog
MAY 2, 2023
For many banks, the fee appraiser-chief appraiser relationship has slowly floated away. The lack of a personal connection has eroded. You only call when there’s a problem. Let’s get the band back together. As a chief appraiser, it’s important to manage the appraisal process and ensure the quality of appraisals performed by fee appraisers.
Phos partners with Finance Incorporated
The Paypers
MAY 2, 2023
SoftPoS orchestration provider Phos has partnered with Finance Incorporated to further improve its Paymix brand and digitise the merchant market in Germany.
The State of Automation in Financial Services 2024 Report
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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
On the job with … Ally’s tech hires
BankInovation
MAY 2, 2023
Ally Financial is turning to the fintech layoff pool to hire for multiple high-level positions within its technology solutions department, including a new director of software engineering and fellow site reliability engineer.
Mastercard works with Web3 companies to launch crypto credentials
The Paypers
MAY 2, 2023
US-based Mastercard has joined forces with several Web3 partners to launch crypto credentials in a bid to improve the reliability of crypto transactions.
Arc hires former FRB, SVB employees
BankInovation
MAY 2, 2023
Former Silicon Valley Bank and First Republic Bank employees are knocking on the door of digital bank Arc to fill positions in relationship management with a desire to continue working with startups.
How to Turn UK’s Consumer Duty Compliance to Your Advantage
FICO
MAY 2, 2023
Home Blog FICO How to Turn UK’s Consumer Duty Compliance to Your Advantage With the clock ticking to the 31 July FCA deadline, a FICO roundtable looked at the scale of the Consumer Duty challenge FICO Admin Tue, 07/02/2019 - 02:45 by Peter Lemon Lead Consultant expand_less Back To Top Tue, 05/02/2023 - 10:05 When the new Consumer Duty was first proposed it was easy for financial service organisations to slip into an overconfident mindset and believe they have everything in hand.
Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance
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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.
Is the banking crisis coming to an end? As JP Morgan CEO notes, risks linger
TheGuardian
MAY 2, 2023
Jamie Dimon says this phase of bank collapses is over, but ‘other cracks in the system’ could still be revealed Fresh from the rescue of First Republic, the latest US regional bank to go under, JP Morgan’s chief executive, Jamie Dimon, has been talking down the threat of contagion. He claims the domino effect that started with Silicon Valley Bank’s collapse and was quickly followed by Signature Bank, Credit Suisse, and now First Republic, is coming to an end.
HSBC rules out banking crisis as profits triple after Silicon Valley Bank deal
TheGuardian
MAY 2, 2023
Failure of four banks in six weeks is purely a sign of poor risk management, says chief executive HSBC’s chief executive has denied the possibility of a fresh banking crisis, saying the failure of four banks in six weeks was a merely a sign of poor risk management, as the lender tripled its own first quarter profits to $13bn (£10bn) after its rescue of Silicon Valley Bank UK.
Register Now: Sneak Peek Into Close Automation SkyStem Web Demo
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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.
How BlackRock, Citigroup, and JP Morgan use AI to deliver more accurate ESG datasets to investors at scale
CB Insights
MAY 2, 2023
ESG was the hottest trend in investing. Now it’s under fire. ESG in investing is the general approach of putting money into companies, funds, and projects that adopt environmental, social, and governance (ESG) principles. It’s a framework for investors to identify opportunities and mitigate financial risks, with the ultimate goal of generating higher returns.
Teamwork Commerce launches self-checkout solution
The Paypers
MAY 2, 2023
Global retail management software Teamwork Commerce has launched an RFID-powered self-checkout solution looking to simplify the checkout process for in-store customers.
Renewed volatility in regional bank stocks puts pressure on policymakers
American Banker
MAY 2, 2023
Regulators shut First Republic Bank; JPMorgan to buy USD 330 bln assets
The Paypers
MAY 2, 2023
First Republic Bank (FRB) has fallen over, but the Federal Deposit Insurance Corporation (FDIC) is closed by the California Department of Financial Protection and Innovation.
Top 10 Benefits of Automating Loan Modifications for Commercial Lenders
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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.
Spryker, TreviPay partner for B2B payments
The Paypers
MAY 2, 2023
B2B payments and invoicing network TreviPay has partnered with enterprise commerce platform Spryker to provide more payment choices for global B2B sellers and marketplaces.
UnionDigital Bank partners with Huawei
The Paypers
MAY 2, 2023
UnionDigital Bank has announced its partnership with global technology provider Huawei to offer improved financial tools to clients in the Philippines.
2024 Lending Outlook: Innovations and Evolutions in the Financial Sector
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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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