Tue.May 11, 2021

article thumbnail

Banks: Investors need to know ESG factors to stay relevant

Bobsguide

Investors need to start ingesting ESG factors in their overall value proposition to remain relevant, according to Simone Vroegop, head of investor services strategy for Europe and Asia at Brown Brothers Harriman. “ESG has gone from a hype to the biggest revolution where virtually all.

Strategy 167
article thumbnail

Questions to Ask Before Vendor Contract Negotiations

Gonzobanker

Successful contract negotiators know when to hold ’em and when to fold ’em. While there is clearly a need for financial institutions to approach vendor agreements armed with tactical knowledge and supporting analytics, there is no substitute for employing methodical action throughout the entire contract negotiation process. In the end, when it comes down to dollars and cents, a little common sense and a lot of shrewd intuition will go a long way.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

The consumption response to borrowing constraints in the mortgage market

BankUnderground

Belinda Tracey and Neeltje van Horen. How is household consumption affected by borrowing constraints in the mortgage market? In a new paper , we answer this question by studying the UK’s Help to Buy (HTB) program over the period 2014–16. The program facilitated home purchases with only a 5% down payment and resulted in a sharp relaxation of the down-payment constraint.

Marketing 110
article thumbnail

Goldman Sachs executive quits after making millions from Dogecoin

TheGuardian

The crypto asset is down more than 30% this week but is still up by more than 1,000% from the start of 2021 A senior manager at Goldman Sachs in London has quit the US investment bank after making millions from investing in Dogecoin, the joke crypto asset which has risen by more than 1,000% in value this year. City sources said Aziz McMahon, a managing director and head of emerging market sales, had resigned from the bank after making money from investing in the digital currency based on the Dog

article thumbnail

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

article thumbnail

Banks turn to RPA to automate collections, compliance and core conversions

BankInovation

Banks are turning to robotic process automation (RPA) to automate collections, make core transitions and help with fraud and anti-money laundering compliance (AML) this year. Banks are automating loan collections because they’re anticipating a wave of loan defaults as COVID-related restrictions on collections expire, said Amit Kumar, vice president of financial services at RPA provider […].

More Trending

article thumbnail

Data held for ransom: Financial institutions could be at risk from ransomware

BankInovation

Ransomware seems to be everywhere, and banks and financial institutions are at risk of attacks like those last week on a major natural gas pipeline and the release of sensitive information stolen from the Washington D.C. Police Department. At its core, ransomware is malicious software that can be used to encrypt an organization’s data and […].

Data 95
article thumbnail

CFTCâ??s Behnam: Tail risks â??seem to be happening more frequentlyâ??

Bobsguide

Regulators and markets should be prepared for tail risks as they appear to be occurring more frequently. “We have to be prepared for tail risk.” said Rostin Behnam, acting chair of the CFTC, while speaking at the year’s Isda AGM. “We think they’re often not the.

article thumbnail

FDIC fines bank $1.8 million for UDAP violations in collecting commercial debt

CFPB Monitor

The FDIC’s settlement with Umpqua Bank announced yesterday involved collection practices connected with commercial equipment financing offered by the bank’s wholly-owned subsidiary. The stipulated Order to Pay Civil Money Penalty requires the bank to pay a $1.8 million CMP. The practices that the FDIC found to violate Section 5 of the FTC Act consisted of: Charging various undisclosed collection fees to borrowers whose accounts were past due, such as collection call and letter fees and third-pa

FDIC 78
article thumbnail

Is smart data fabric the approach financial institutions have been dreaming about?

Bobsguide

Financial institutions and data have had a love hate relationship for many years. On the one hand FIs and data are a match made in heaven. It is a symbiotic relationship where business functions create and consume data over and over until the result exceeds the sum of the parts. Ideally this.

Data 78
article thumbnail

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.

article thumbnail

Here’s Why Employee Mental Health is a Great Investment

Jack Henry

May is Mental Health Awareness month. While mental health is always an important topic, it’s especially so in the current environment. People have been coping with a pandemic and its repercussions for over a full year, and that really takes its toll. As an employer, caring about employees’ mental health is not only the kind thing to do, it can be the smart thing to do for business as well.

78
article thumbnail

ARRC and FCA â??optimisticâ?? markets can meet Libor deadline

Bobsguide

Both market participants and regulators are optimistic the transition to risk free rates (RFR) can be implemented before the December deadline of new issuances of USD Libor. “I remain very optimistic”, said Tom Wipf, vice chairman of institutional securities at Morgan Stanley and.

Meeting 78
article thumbnail

Activists target Liverpool FC sponsor Standard Chartered over fossil fuel links

TheGuardian

Posters demand ‘red card’ for football club’s sponsor as hoax website ‘announces’ end of UK bank’s support for coal More than 50 billboards and bus stop adverts drawing attention to the Liverpool FC sponsor Standard Chartered’s links to the fossil fuel industry have appeared across the city, as a number of activist groups targeted the bank ahead of its annual general meeting on Wednesday.

Meeting 88
article thumbnail

IBM launches new cloud, AI services in bid to modernize business

BankInovation

International Business Machines Corp. is rolling out a new product that will help businesses automate tasks, capitalizing on the rise of chat bots and virtual assistants during the pandemic and taking another step in its pivot toward cloud services and artificial intelligence. The tool, called Watson Orchestrate, uses artificial intelligence to select and sequence the […].

Tools 69
article thumbnail

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.

article thumbnail

Rising food costs are causing global hunger while the rich are getting richer | Arwa Mahdawi

TheGuardian

The rich are now nearly 40% richer than before the coronavirus crisis. Meanwhile, food prices rise, and more and more people go hungry Is food made out of gold now? Because it’s starting to seem that way. Every time I go to my (extremely not fancy) local New York supermarket I am shocked at how expensive groceries have become. Prices seem to jump every month – in fact, food prices are up 3.5% compared with last spring, according to the US Department of Agriculture.

article thumbnail

Apple defends app review, payment system to deflect Epic claims

Payments Source

Apple 149
article thumbnail

Savers deposit more than £1bn at Post Offices for second month running

TheGuardian

Business deposits also rise, showing reliance on cash despite shift online in Covid crisis Savers deposited record sums at Post Office branches in April, taking the total to more than £1bn for the second month in a row. The Post Office said it was the first time that personal deposits have topped £1bn for two successive months. A total of £1.07bn was paid in over its counters, following cash deposits of £1.12bn in March.

Online 67
article thumbnail

COVID-19 Vaccine Ke Liye Kaise Register Karein

BankBazaar

COVID-19 vaccine ke liye safatlapurvak register kaise karein? Is article mein hum saare steps ke baare main jaanenge. Padhte rahiye. 18+ age group ke lie vaccinations khulne ke saath, sarkaar ne vaccine lagaane ke liye pravesh paane ke liye CoWin portal (ya Aarogya Setu/ Umang aap) ke maadhyam se register karane ke liye 18 varsh se adhik aayu ke sabhi Bharatiya naagarikon ke liye anivaarya kar diya hai.

Maine 78
article thumbnail

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.

article thumbnail

UK government sells £1.1bn worth of shares in NatWest

TheGuardian

Bank edges closer to majority private ownership after being bailed out by taxpayer in financial crisis The government has edged closer to exiting majority ownership of NatWest after selling a £1.1bn stake in the bank, which the taxpayer bailed out during the financial crisis more than a decade ago. In a development authorised by the chancellor, Rishi Sunak , the Treasury said it had sold 580m shares at a price of 190p a share in a competitive overnight sale to City investors, cutting the governm

Groups 64
article thumbnail

Google Pay adds cross-border payments

Payments Source

Google 119
article thumbnail

How to Address Portfolio Risk Volatility Through Economic Uncertainty - Part 1

FICO

Credit risk industry veterans who managed consumer loan portfolios through the Great Recession can recall the challenge of responding to swiftly changing borrower payment behavior and the resulting delinquency and default rate volatility during that time. Unable to pinpoint the sources of rapidly growing credit losses, lenders broadly and dramatically restricted access to credit by reducing new account originations, cutting unutilized exposure, and intensifying collections practices, often to th

How To 52
article thumbnail

Can Affirm's growth keep it ahead of PayPal, Afterpay?

Payments Source

Cards 119
article thumbnail

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.

article thumbnail

Digital Decisioning Enables Radical, Customer-Focused Change

FICO

You might have a banking app on your phone. Your accounts are accessible in real-time, from any smart device. You can check balances, transfer funds and it’s all digitized for your hand-held convenience, anytime. Is this digital decisioning? No. Your CRM has a sophisticated dashboard with detailed customer metrics, maybe even a few predictive insights useful for marketing and sales programs.

article thumbnail

The importance of cash after COVID

Payments Source

ATM 94
article thumbnail

How to Address Portfolio Risk Volatility Through Economic Uncertainty

FICO

Credit risk industry veterans who managed consumer loan portfolios through the Great Recession can recall the challenge of responding to swiftly changing borrower payment behavior and the resulting delinquency and default rate volatility during that time. Unable to pinpoint the sources of rapidly growing credit losses, lenders broadly and dramatically restricted access to credit by reducing new account originations, cutting unutilized exposure, and intensifying collections practices, often to th

How To 52
article thumbnail

TikTok begins testing in-app shopping to challenge Facebook

Payments Source

article thumbnail

Top 10 Benefits of Automating Closing Documents

In the fiercely competitive landscape of commercial lending, where FinTech's digital transformation initiatives take center stage, the complexities of loan documentation are constantly evolving. Today, automating closing documents stands as a crucial component in FinTech's top priorities, addressing challenges from compliance demands to managing fluctuating volumes during uncertain economic times.