Payments Dive
JULY 5, 2022
The earned wage access provider said that it was eliminating some fees just as the federal agency decided to remove a prior order giving the company leeway under certain laws.
South State Correspondent
JULY 5, 2022
In our first part of the Fed-bursting-the-everything-bubble, we discussed how and why some banks would struggle with interest rate, credit, and liquidity risks. In our second part of the series, we covered how monetary tightening and stagflation will cause cash flow constraints for borrowers and create credit risk for banks. In this article, we analyze why 75% LTV may not protect banks from credit risk on commercial loans and why there is only one source of loan repayment. .
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Payments Dive
JULY 5, 2022
As companies grapple with inflation and supply chain snarls, the business payments firm says it’s targeting those that need credit cards for workflow capital.
ABA Community Banking
JULY 5, 2022
Not many bank CEOs can say their first bank job was. being CEO. For those who can, they say it brings a unique perspective on leadership to the industry. The post The Path Less Taken to the Community Bank C-Suite appeared first on ABA Banking Journal.
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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
Payments Dive
JULY 5, 2022
The company’s website tells users how to withdraw funds and access transaction data that they’ll lose access to once the Novi pilot ends. Meta, however, said it plans to use Novi’s technology in future projects.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
BankInovation
JULY 5, 2022
It’s not surprising that Nicole Olson of State Street has a sense of exploration. It’s central to her work as vice president of digital product development and innovation at the bank, where she leads efforts to solve problems using blockchain and other distributed ledger technologies (DLT). “I work closely with clients to understand their particular […].
CFPB Monitor
JULY 5, 2022
On June 18, 2022, Louisiana’s Governor signed into law two new bills that impose new requirements for student loans. Both bills are effective on August 1, 2022. HB 610. HB 610 creates the following new duties for student loan servicers: Response to Inquiries/Complaints. A student loan servicer must acknowledge receipt of a written inquiry or complaint from a student loan borrower or the authorized representative of a student loan borrower within 10 days after receiving the inquiry or complain
Jeff For Banks
JULY 5, 2022
I was invited to speak at a bank client's annual meeting of shareholders on what I think a bank needs to do to thrive. Although I speak extemporaneously, I thought it best if I wrote my remarks beforehand and use it as a guide. Below is what I wrote and largely what I delivered, edited for easier reading. My Remarks to Bank Client's Annual Meeting of Shareholders "I want to thank [Chairman] and the Board, [CEO] and the management team for asking me to come out and remark on where I think the ban
CFPB Monitor
JULY 5, 2022
The CFPB has taken the first formal step towards a new rulemaking on credit card late fees by issuing an Advance Notice of Proposed Rulemaking (ANPR). Comments on the ANPR must be received by July 22, 2022. The issuance of the ANPR follows the CFPB’s release of a report on late fees in March 2022. Both the CFPB’s press release about the report and its press release about the ANPR contain comments from Director Chopra regarding the amount of revenues that credit card issuers generate from late
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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
PopularBank
JULY 5, 2022
As time passes, and community associations continue to age, their upkeep becomes more and more complicated for the unit owners, the board, and the management company. There will come a time when some community associations may need to consider financing major restoration projects. Even the best maintained properties cannot avoid problems associated with escalating repair costs or unexpected repair needs, which can often result in reserve deficiencies.
CFPB Monitor
JULY 5, 2022
The CFPB has issued an order terminating the approval order issued in December 2020 to Payactiv, Inc. through the CFPB’s Compliance Assistance Sandbox (CAS) Policy. The approval order confirmed that Payactiv’s earned wage access (EWA) program described in the order did not involve the offering or extension of “credit” as defined by section 1026.2(a)(14) of Regulation Z, and that Payactiv therefore had a safe harbor from liability under the TILA and Regulation Z in connection with the specified
The Paypers
JULY 5, 2022
Australia-based Commonwealth Bank (CBA) has introduced new AI-based technology to detect suspicious and unusual behaviour on its digital banking platforms.
Bank Activities
JULY 5, 2022
By Zoran Temelkov July, 2022. The Aussie neobank Volt announced that it would close its deposit-taking business operations due to its failure to raise sufficient levels of capital during the pandemic. The company was unsuccessful in its effort to secure $200 million in a Series F funding round this year. The funds were intended to support the company’s plan to write a mortgage and expand its operations.
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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.
The Paypers
JULY 5, 2022
To further expand on the ongoing partnership started in 2016, AS DelfinGroup has incorporated Nordigen 's Open Banking platform to add to their technological toolkit and improve their loan origination and credit assessment procedures.
The Paypers
JULY 5, 2022
Worldline has teamed with Weixin (the mainland Chinese version of WeChat) to integrate merchants onto the latter’s social platform and facilitate cross-border payments.
The Banker
JULY 5, 2022
As the clouds darken over the global economy, South Korea’s financial regulators are bracing for a storm. James King reports.
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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.
The Paypers
JULY 5, 2022
Tech giant Apple has announced that its Apple CarPlay users can activate fuel station pumps and make contactless in-car payments directly via their vehicle’s navigation screen, through third-party fuelling apps.
The Paypers
JULY 5, 2022
QuickBooks , a financial and business management programme for small firms, has announced it will exit the Indian market and won’t be available in India after January 31, 2023.
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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.
The Paypers
JULY 5, 2022
ZignSec , a Sweden-based regtech, has launched its new portal, a compliance orchestration platform providing clients with a way to access ZignSec’s portfolio of KYC, KYB, and AML compliance solutions.
The Paypers
JULY 5, 2022
The LYOTRADE crypto exchange has launched new services to offer loans made with cryptocurrencies.
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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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