South State Correspondent

MAY 22, 2019

MANAGING CREDIT RISK Most risk managers are intimately familiar with the expected loss for credit and interest rate risk. However, fewer risk managers are familiar with the concept of unexpected loss. For commercial banks, it is the unexpected loss that is more important for lending decisions and long-term profitability. We will outline how unexpected loss manifests itself in lending decisions and what commercial lenders must know to safeguard against unexpected loss for credit and interest ra

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Lending Risk Management Management 321

Bank Innovation

MAY 22, 2019

With hefty injections of cash and ballooning customer numbers, challenger banks are gunning for a greater share of incumbent banks' customers. They're promoting customer growth as an indicator of ongoing success, but questions loom about whether these customers are using their challenger bank accounts as their primary account and whether customer acquisition gains are being […].

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Operations Retail 282

Chris Skinner

MAY 22, 2019

After my recent blogs about Earth Day, Banking for Humanity, the FinTech Parent-Child relationship and Gen Y and Z: Doing good for society and the planet (an Earth Day FinTech update) Doing bad for society and the planet (an Earth Day banking update) Banking for Humanity? FinTech and the Parent-Child … The post Will children save planet earth?

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Fintech 277

South State Correspondent

MAY 22, 2019

2019 BANK MANAGEMENT CONFERENCE If you have not already, you should make plans to attend our 2019 Bank Management Conference which is coming up quickly on July 11 – 13, 2019. Hosted at the Ritz Carlton in Amelia Island, Florida, this is our flagship conference that gives banks the opportunity to meet our team, hear new ideas and to exchange thoughts with some of the best bankers in our industry.

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Conference Management Florida Meeting 207

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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

Lending

Chris Skinner

MAY 22, 2019

Things we’re reading today include … Barclays and Santander customers suffer most service disruptions: where does your bank rank? Fraudsters are stealing £674 per MINUTE in ‘out-of-control’ bank transfer scams Deutsche Bank Says Software to Detect Money Laundering Had a Bug Facebook and City banks among highest-paying UK firms Big … The post Things worth reading: 23rd May 2019 appeared first on Chris Skinner's blog.

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Software 266

PYMNTS

MAY 22, 2019

Mastercard and Interac, the global and domestic payment networks, announced Wednesday (May 22) they are collaborating to offer customers in Canada a fast and easy way to send money internationally. In a press release , the companies said Interac is using Mastercard Send, a push-payments service to send money cross-border, on the Interac eTransfer platform.

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Bank Innovation

MAY 22, 2019

A savings and investment platform based in Germany is opening up a new front in the war for U.S. customers' deposit dollars. Raisin, which bills itself as a one-stop shop for online savings and investments, is planning to launch in the U.S. next year. Partnering with small and medium-sized institutions, the Berlin-based fintech acts like […].

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PYMNTS

MAY 22, 2019

A new service launched Wednesday (May 22) called Plaid Direct enables “two-way connectivity across the financial ecosystem and makes it easier for consumers to move money between their accounts — whether it’s in a neobank, FinTech, or big box bank account,” according to a statement from Plaid. In a blog post , the company said it now offers a “lightweight integration specification that allows banks and FinTech applications to quickly and easily become a data source in the Plaid network.

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Innovation Fintech Strategy Data 190

Bank Innovation

MAY 22, 2019

INV Fintech, the sister accelerator to Bank Innovation, today announced the addition of nbkc bank as a member of its ecosystem. Currently in its seventh startup class, INV Fintech fosters innovation through information sharing, interactions and potential collaborations between startups, financial institutions and technology providers. Since 2015, it’s supported more than 50 startups in their efforts to […].

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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

Report

PYMNTS

MAY 22, 2019

Target notched an impressive beat when it reported its Q2 earnings earlier this morning (May 22), with earnings and sales both clearing analyst predictions. Net income clocked in at $795 million, or $1.53 per share. That is a beat on results at this time last year, when Target reported earnings of $718 million, or $1.33 a share, a year ago, well ahead of analyst estimates of an EPS of $1.43.

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social media Branding Online Report 187

Abrigo

MAY 22, 2019

The U.S. Department of the Treasury recently published A Framework for OFAC Compliance Commitments to provide financial institutions and other organizations with OFAC’s perspective on the essential components of a sanctions program. Andrea M. Gacki, Director of the Office of Foreign Assets Control, stated that “OFAC developed this framework in our continuing effort to strengthen sanctions compliance practices across the board.

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Compliance Regulation Regional United States 150

PYMNTS

MAY 22, 2019

As the need for speed increases worldwide, banks and other financial players are adapting payments to work smarter — not harder. Faced with a growing number of transactions to process in real time, payment service providers (PSPs), financial institutions (FIs) and FinTech firms also need to make sure the security of these smarter payment systems is up to par.

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Fraud Payments Regulation Security 180

Accenture

MAY 22, 2019

I am excited to have Tim O’Donnell join our Payments team as a managing director and draw on his insights in developing this blog. Tim brings a unique perspective to treasury management services, having worked in industry, for solution providers and in consulting, helping commercial banks meet changing client expectations with new product and market strategies.

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Payments Customer Experience Survey Capital 150

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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.

Lending

PYMNTS

MAY 22, 2019

Mobile commerce has become part of the daily routine for many consumers — who are not just using devices to shop on the go, but also in-store and for a variety of product categories. In the 2019 edition of the Remote Payments Study , PYMNTS collected and analyzed survey data from 2,300 American consumers to see how shopping habits have changed and evolved from last year.

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Mobile Study Retail Millennials 177

Bobsguide

MAY 22, 2019

Major banks are increasingly interested in commercial cloud platforms, but networks of interconnected legacy systems and concerns over data security will continue to see a layered hybrid approach, say market participants. “When we started engaging with customers, we imagined from the.

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System Data Security Marketing 158

PYMNTS

MAY 22, 2019

The first time is a charm. In fact, the first time must be a charm. No, we are not talking about first dates or so-called “meet cutes” in movies. We are talking about consumer acceptance of contactless payments in the U.S. – specifically, the use of such payments for mass transit in New York City. It’s an unforgiving environment where people are famously told not to look too long at other riders, so you can imagine the frustrations in store if those payments should fail while someone is trying t

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New York City New York Payments Training 171

Payments Source

MAY 22, 2019

Most women who reach the executive level in the payments industry didn’t get there alone. Finding the right mentor, developing a voice and taking positive lessons from negative experiences often are keys to success.

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Leadership Payments Industry Fintech 117

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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.

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PYMNTS

MAY 22, 2019

WeChat Pay and Alipay, the Chinese digital payment apps, have been banned in Nepal due to a loss of income as a result of the services, per the government’s claims. Reuters , citing Laxmi Prapanna Niroula, a spokesman for the Nepal Rastra Bank, reported that the two digital payment services are not registered with the central bank in Nepal and are therefore illegal.

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Taxes Regulation Payments System 158

CFPB Monitor

MAY 22, 2019

According to American Banker , Kristen Donoghue, who has served as the CFPB’s Assistant Director of Enforcement since November 2017, has resigned. American Banker also reports that Cara Petersen, the CFPB’s Principal Deputy Enforcement Director, has been named Acting Director of Enforcement, and that Jeffrey Ehrlich, the CFPB’s Deputy Enforcement Director, will become Principal Deputy Enforcement Director.

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Report Chicago Groups 113

PYMNTS

MAY 22, 2019

To prevent consumers from leaving their carts behind before they pay, businesses need to have strong online checkout processes that convert online shoppers into customers. The aim is to head off the real and pertinent issue of checkout abandonment, which, according to some estimates, happens to a staggering share of eCommerce carts. Some estimates say almost seven in 10 — or 69.6 percent — of all online shopping carts end up deserted, according to the latest PYMNTS Checkout Conversion Index.

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Google Retail Online Tools 156

Payments Source

MAY 22, 2019

The Apple Card takes a more aggressively digital approach to credit card relationships than most other products on the market — but the technology behind it isn’t exclusive to Apple.

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Apple Cards Technology Marketing 110

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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.

Compliance

PYMNTS

MAY 22, 2019

An analyst has revealed that Tesla missed out on the chance to sell to Apple six years ago for around $240 per share. “Around 2013, there was a serious bid from Apple at around $240 a share,” Craig Irwin, an analyst at Roth Capital Partners, told CNBC. “This is something we did multiple checks on. I have complete confidence that this is accurate. Apple bid for Tesla.

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Apple San Francisco California Capital 154

Payments Source

MAY 22, 2019

If cryptocurrency is on its way to becoming a mainstream payment method in the U.K., it will be due to an increased appetite from major card networks for forming alliances with leading cryptocurrency providers.

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Cards cryptocurrency Payments Retail 95

PYMNTS

MAY 22, 2019

At a meeting on Wednesday (May 22), Amazon Shareholders shot down two proposals to monitor and curb the eCommerce giant’s facial recognition service, according to a report by Reuters. Amazon’s technology, called Rekognition , has been under scrutiny as critics of the service have warned of false arrests and incorrect matches. Other voices in favor of the tech have claimed the service keeps the public more safe.

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Insights on Business

MAY 22, 2019

Bank of New Zealand (BNZ), one of the leading banks in ANZ, announced late last year that they have selected IBM Safer Payments to deliver cross-channel fraud protection to its customers. The multi-million-dollar deal supports BNZ’s efforts to provide frictionless and safer payments experience to their customers. Growing fraud requires new approach.

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Customer Experience Payments Fraud Security 87

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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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