Mon.May 03, 2021

article thumbnail

Market Commentary: Week of May 3, 2021

SWBC's LenderHub

Last Week: While it was a week filled with big events, stocks actually had a relatively calm week. On Wednesday, the Federal Reserve FOMC meeting showed a Fed that has every intention to let the economy run hot, even as inflationary readings pick up. The Fed views the spikes we are seeing in commodities and other production inputs as “transitory.” Notable market participants such as Jeff Gundlach and David Einhorn disagree.

Marketing 135
article thumbnail

UK banks’ support for coal industry has risen since 2015 Paris climate pact

TheGuardian

Lenders including Barclays and HSBC provided services and loans worth £21.9bn in 2019 British banks’ financial support for companies involved in the coal industry has risen since the 2015 Paris agreement, despite their pledges to wind down financing for a sector seen as a significant obstacle to tackling global heating. UK lenders provided loans and underwriting services worth $30.3bn (£21.9bn) to companies that sold or burned coal, or provided coal industry services, during 2019, the latest yea

Insiders

Sign Up for our Newsletter

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

article thumbnail

All Signs Point to a Recovered Auto Loan Market!

SWBC's LenderHub

If you’re anything like me, now that we’re a solid quarter into 2021, the haze and fog of 2020 is finally starting to dissipate. More businesses and organizations have begun to open, and we continue to return to some sense of “normalcy” as a society. Surprisingly, the lending market has not followed the same economic trend as some of the harder hit industries.

Marketing 103
article thumbnail

California DFPI issues proposed regulations to implement new Debt Collection Licensing Act

CFPB Monitor

On April 23, 2021, the California Department of Financial Protection and Innovation (“DFPI”) issued proposed regulations to implement the Debt Collection Licensing Act (“DCLA”). Debt collector licenses are required beginning on January 1, 2022 but a debt collector that applies for a license before that date can continue to operate while the application is pending.

article thumbnail

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

article thumbnail

Microservices trend makes digital platforms accessible to small banks

BankInovation

When Wildfire Credit Union decided to optimize its customer and employee experience, it turned to a digital banking platform that uses microservices — a trend that’s making digital banking more affordable for smaller banks and credit unions. The Saginaw, Mich.-based Wildfire Credit Union is looking to expand beyond its region, which is currently overbanked, Jackie […].

Trends 90

More Trending

article thumbnail

Why a union victory against Macy's matters to digital checkout

Payments Source

Mobile 178
article thumbnail

Education lender Climb Credit taps Zest AI for credit underwriting

BankInovation

Climb Credit, an education lender focused on private vocational schools, is partnering with software provider Zest AI to bolster its credit offering with credit underwriting powered by machine learning (ML); the partnership was announced last week. The lender will use Zest's model management system to power its student lending credit model to enhance accuracy and […].

Lending 80
article thumbnail

How e-commerce can grow in Germany's cash-heavy economy

Payments Source

Online 168
article thumbnail

Talkdesk roll out AI-based digital lending solution

The Paypers

Talkdesk has launched Talkdesk Digital Lending, a borrower solution designed for lenders, assisting the lending lifecycle for personal, mortgage, and commercial loans.

Lending 64
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

Best Credit Cards in Texas: Get the Most Rewards & Perks on Spending

MyBankTracker

The best credit cards are the ones that align with your spending style and needs. But where you live geographically can also play a part in choosing a card. For example, the best credit cards in Texas can reward you with cash, miles or points on everyday spending, entertainment and travel purchases. We reviewed more than 30 credit cards from the biggest U.S. credit card issuers to find the best options for Texans to maximize the rewards and perks based on how they spend.

Texas 52
article thumbnail

Grant County Bank Offers CDs In CO, KS, OK, And TX

BankDeals

Grant County Bank (KS) is currently offering its competitive long-term CDs to residents of CO, KS, OK, and TX. CDs have tiered APYs based on $1k and $100k deposits.

52
article thumbnail

Bank of America tech chief says cyberattacks have surged ‘dramatically’

Payments Source

America 112
article thumbnail

DBS, JP Morgan, and Temasek partner in blockchain payments platform

The Paypers

DBS Bank , JP Morgan , and Temasek have partnered to create a new blockchain-based platform for payments, trade, and foreign exchange settlement, according to The Straits Times.

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

SBA Updates Guidance on PPP Whole Loan Sales

ABA Community Banking

The Small Business Administration today extended its guidance on how lenders may sell whole Paycheck Protection Program loans. The SBA’s previous guidance on whole loan sales of PPP loans expired on May 1, and the new guidance been back-dated to take effect on April 30, 2021. The post SBA Updates Guidance on PPP Whole Loan Sales appeared first on ABA Banking Journal.

article thumbnail

Amazon expands Key by Amazon service to all regions where they deliver groceries

The Paypers

Amazon has announced that it has expanded its Key by Amazon in-garage delivery service to all regions where they deliver groceries.

article thumbnail

ABA Foundation Invites Applications for Annual Community Commitment Awards

ABA Community Banking

The ABA Foundation invites entries for the ninth annual Community Commitment Awards, which recognize and promote extraordinary bank commitment to communities and the innovative, high-impact programs that improve the quality of life for customers and the communities banks serve. The post ABA Foundation Invites Applications for Annual Community Commitment Awards appeared first on ABA Banking Journal.

article thumbnail

Global smart card market to reach USD 15 billion by 2027, study says

The Paypers

Allied Market Research has published a report assessing that the global smart card market was pegged at USD 10.19 billion in 2019, and is estimated to reach USD 15.57 billion by 2027.

Cards 45
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

New AML law will help banks deter illicit finance. But there's a catch.

Payments Source

article thumbnail

PayPal-Backed Paxos Raises $300M To Expand Its Blockchain Infrastructure Platform

CB Insights

Paxos , which offers regulated blockchain solutions, has raised a $300M Series D. The round was led by Oak HC/FT Partners with participation from Declaration Partners, PayPal Ventures, and Mithril Capital, among others. How’s the company performing? New York-based Paxos is a blockchain infrastructure platform that provides cryptocurrency services, like crypto trading and settlement or custody, to enterprises.

article thumbnail

5G, not digital currency: What BofA tech chief Bessant is bullish on

American Banker

America 87
article thumbnail

Revolut updates its super app

The Paypers

Revolut has made an update to its app, a further move to put it into the super app category, according to AltFi.

41
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

Pressure grows on banks to abandon facial recognition tech

American Banker

87
article thumbnail

PayJunction launches its chargeback management system

The Paypers

PayJunction , a US-based developer of payment processing technology, has announced the launch of its chargeback management system.

System 39
article thumbnail

Fed official tapped as interim OCC chief: Report

American Banker

Report 75
article thumbnail

Payments tech isn't compatible with monopolization

Payments Source

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.