Independent Banker
SEPTEMBER 30, 2021
Under Larry Wilson’s leadership, First Arkansas Bank and Trust’s branch on the Little Rock Air Force Base was named the 2020 Air Force Bank of the Year. Photo by: Dero Sanford. Community banks operate on a majority of the country’s military installations. Given their selfless service, active-duty personnel rely on community banks that understand their unique needs.
Jack Henry
SEPTEMBER 30, 2021
Financial services is one of the most technology-dependent industries. And today the actual business of banking is being reinvented with technologies we hadn’t even imagined just a few years ago – apps and APIs, machine learning and AI, chatbots, robotic process automation, cloud computing, and others. As with all shiny new things, there is spirited debate if they are noise or solutions to real industry challenges.
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CFPB Monitor
SEPTEMBER 30, 2021
In addition to amendments to the Fair Credit Reporting Act dealing with the reporting of adverse information on servicemembers by consumer reporting agencies, the National Defense Authorization Act (NDAA) as passed by the House and now headed to the Senate includes amendments to the Servicemembers Civil Relief Act that restrict the use of arbitration agreements and waivers of SCRA protections.
Independent Banker
SEPTEMBER 30, 2021
By Lindsay LaNore, ICBA. Sometimes teambuilding gets a bad rap, and busy schedules can keep it from reaching the top of the priority list, but it is something every leader should have in their repertoire. Teambuilding promotes employee engagement by improving group dynamics and strengthening bonds. It can help with morale and motivation, improve mental health and boost confidence.
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.
TheGuardian
SEPTEMBER 30, 2021
Move to cut one in five outlets means bank has more than halved number of branches since 2018 Virgin Money has announced it will close 31 branches – almost all in Scotland and the north of England – in the latest stage of the UK banking sector’s retreat from the high street. The bank said it expected to make 112 people redundant because of the closures after the coronavirus pandemic accelerated the shift to online and mobile app-based banking, a move that has rapidly reduced the profitability of
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
BankInovation
SEPTEMBER 30, 2021
As more Canadians shift to online banking, Royal Bank of Canada continues to expand its digital capabilities by offering customers insight into their money in addition to enhanced security measures. NOMI Forecast is the newest capability in the bank’s artificial intelligence (AI)-powered virtual assistant, called NOMI. The recently launched functionality gives customers a seven-day view […].
Independent Banker
SEPTEMBER 30, 2021
Photo by Heather Esposito. Educated customers form stronger relationships with their community banks. They are more likely to repay loans, live within their means and maintain higher balances. When I first came into community banking, I quickly learned that our jobs are as much about education as they are about finance. While community bankers have deep knowledge of financial topics, most people don’t have that background.
BankInovation
SEPTEMBER 30, 2021
What is the strategy behind Scotiabank’s newly unveiled plans to expand its relationship with Google? The $946.9 billion Toronto-based bank will now leverage the tech giant’s data analytics and artificial intelligence (AI) capabilities to grow its scale and computing power, Grace Lee, Scotiabank’s global chief analytics officer, told Bank Automation News.
Independent Banker
SEPTEMBER 30, 2021
The number of money mule schemes affecting community banks is increasing, in part because of the pandemic. Here’s how two community banks are protecting their customers from falling victim to fraud. By William Atkinson. More and more community banks are having to deal with money mule schemes targeting unsuspecting customers. One such community bank is Lakeland Bank in Oak Ridge, N.J., which has had more than one encounter with this problem.
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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
BankDeals
SEPTEMBER 30, 2021
Clearpath Federal Credit Union (easy membership in Southern CA) 60-month Savings Certificate offers competitive tiered rates, a one-time bump, and one additional deposit.
Independent Banker
SEPTEMBER 30, 2021
Changing customer banking habits means it’s more important than ever for community banks to use every tool at their disposal. The good news is that those tools might already be at their fingertips. By Katie Kuehner-Hebert. Community banks may have longstanding relationships with their core vendors, but that doesn’t always mean they keep up to date on all the latest features and functionalities.
BankInovation
SEPTEMBER 30, 2021
Alternative payment methods have risen with the COVID-19 pandemic, requiring banks and financial institutions (FIs) to ensure they have anti-money laundering (AML) processes in place. Navigating this new world of alt payment methods was a major theme yesterday at the Association for Certified Anti-Money Laundering Specialists (ACAMS) Anti-Financial Crime Conference in Las Vegas.
CFPB Monitor
SEPTEMBER 30, 2021
The National Defense Authorization Act as passed by the House and now headed to the Senate includes amendments to the Fair Credit Reporting Act dealing with the reporting of adverse information on servicemembers by consumer reporting agencies. The amendments add the defined terms “uniformed consumer” and “deployed uniformed consumer” to the FCRA. A “uniformed consumer” is defined as a consumer who is a member of the uniformed services (i.e.
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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
SWBC's LenderHub
SEPTEMBER 30, 2021
When it comes to understanding the auto lending industry, I’m a numbers guy. Data weaves the story that allows me to keep my pulse on the market and make informed business decisions. One of my go-to resources is CU Data’s quarterly statistics and trends report. In this blog post, I’d like to share some highlights and notable KPIs from the Q2 2021 report.
CFPB Monitor
SEPTEMBER 30, 2021
FTC Chair Lina Khan sent a memo this week to the other FTC Commissioners and FTC staff outlining her “vision and priorities” for the agency. The key statements in her memo relevant for consumer financial services are: Use of authorities. In light of the U.S.
CB Insights
SEPTEMBER 30, 2021
Leena AI , a developer of conversational AI chatbots for HR, has raised $30M in a Series B. The round drew participation from Greycroft, Bessemer Venture Partners, and B Capital Group. How’s the company performing? Delaware-based Leena AI helps several companies automate conversations with employees in order to answer general questions and provide access to personal data and documents.
CFPB Monitor
SEPTEMBER 30, 2021
Despite having been a target for over a decade, bank overdraft practices still remain a focus of regulators and plaintiffs’ class action attorneys. We discuss federal and state legislative, regulatory, and enforcement developments; theories currently used by plaintiffs’ attorneys to challenge overdraft practices, including retry payment claims; litigation involving alleged Regulation E violations; and the use of arbitration provisions to help avoid class action exposure.
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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.
CB Insights
SEPTEMBER 30, 2021
Gem , a recruiting platform, has raised $100M in a Series C. The round drew participation from Accel, ICONIQ Capital, Greylock Partners, Sapphire Ventures, and Meritech Capital Partners. HOW’S THE COMPANY PERFORMING? California-based Gem streamlines the recruiting process by integrating with Linkedin, Gmail, Outlook, and ATS. It has helped companies hire over 5,000 candidates and source up to 4x faster.
The Paypers
SEPTEMBER 30, 2021
The Bank of England and the UK Treasury department have announced that PayPal , Amazon , and Visa will be among the corporate representatives participating in two advisory groups that are exploring a possible Central Bank Digital Currency.
American Banker
SEPTEMBER 30, 2021
The Paypers
SEPTEMBER 30, 2021
Pan-African cryptocurrency exchange, Yellow Card , has announced a USD 15 million Series A, the to ramp up hiring and continue its expansion across the continent.
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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.
The Financial Brand
SEPTEMBER 30, 2021
Signs point to stricter rules for how nonbanks can use banking terms in their apps and marketing, complicating banking-as-a-service deals. The post Will Regulators ‘De-Bank’ Challengers, Neos, Cryptos & Fintechs? appeared first on The Financial Brand - Banking Trends, Analysis & Insights.
American Banker
SEPTEMBER 30, 2021
The Paypers
SEPTEMBER 30, 2021
Sift , a US-based fraud prevention company, has reported a spike in account takeover attacks against the fintech sector.
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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.
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