Mon.Jul 25, 2022

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Blaming cards for high gas prices doesn't make sense, trade group argues

Payments Dive

The leader of the Electronic Payments Coalition tells people looking to blame credit and debit card companies for higher gas prices to find a different scapegoat.

Cards 363
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How to Best Use Volatility Instruments for Bankers – Part II

South State Correspondent

Last week we discussed how lenders might use swaps, caps, floors, and collars to help borrowers manage borrowing costs. We outlined how the market values swaps and volatility instruments (like caps and floors), and we reviewed the fundamental reasons for how and why these hedging instruments are applied to commercial loans. In this article, we will provide some guidance that lenders may apply to position, price, and compare swaps, caps, floors, and collars for their borrowers.

How To 195
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Fintech Cardless taps Amex network

Payments Dive

The partnership allows brands working with Cardless to take advantage of Amex’s benefits, while Amex sees the move expanding the scale of its network.

Fintech 345
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Ag lending outlook & top challenges

Abrigo

Strong demand is a factor in the ag lending outlook ahead Ag lenders can begin taking steps to ensure they are prepared and can provide positive customer or member experiences. You might also like this webinar, "How to Position Yourself for High-Yielding Ag Loan Growth." WATCH. Takeaway 1 The economic and financial outlook for U.S. farmers is even more unpredictable than in recent years.

Lending 195
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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

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Domestic money transfer to jump nearly 50%, Juniper forecasts

Payments Dive

Domestic money transfer payments worldwide are likely to jump by about 50% between this year and 2026 to some 300 billion payments, research firm Juniper Research predicted in a report released today.

Payments 221

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Grocery company Albertsons rolls out SNAP online payment

Payments Dive

The company now offers the purchasing capability at five banners through its own platform as well as the Instacart app.

Company 221
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Community bank execs see recession in near future

ABA Community Banking

A recent survey of community bank leaders found that nearly all believe that a recession is just around the corner, with more than half of respondents blaming the Federal Reserve. The post Community bank execs see recession in near future appeared first on ABA Banking Journal.

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Listen: Banks lean on technology and talent to improve CX

BankInovation

After a financial institution has successfully digitized its loan origination and account opening system, improving the user experience is the next step. Engaging users is crucial, Kristiane Mandraki, director of business development and marketing at software developer fintech Praxent, tells Bank Automation News in this episode of “The Buzz” podcast.

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GFT among Europe’s leaders for data analytics and machine learning in the Google Cloud

Bobsguide

GFT has been identified as a leader in ISG’s Provider Lens evaluation for Europe – Google Cloud Partner ecosystem data analytics and machine learning 2022. Artificial intelligence could contribute close to USD 16 trillion to the global economy in 2030. Successfully implementing AI solutions has become key for the continued competitiveness of companies in all industries.

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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

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Federal Reserve Board issues proposal on benchmark replacements for contracts that use LIBOR

CFPB Monitor

The Federal Reserve Board issued a proposa l last week that would establish default rules for benchmark replacements in certain contracts that use as a reference rate the London Interbank Offered Rate (LIBOR), which will be discontinued in 2023. The proposal implements the Adjustable Interest Rate (LIBOR) Act, which was enacted in March 2022. Comments on the proposal must be filed no later than 30 days after the date the proposal is published in the Federal Register.

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Airwallex launches online payments app on Shopify

The Paypers

UK-based money remittance platform Airwallex has launched an online payments app on Shopify , allowing merchants to integrate a gateway plugin on their online store and accept payments from customers around the globe.

Online 73
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Fintechs look to staff cuts amid inflation, market volatility

BankInovation

Varo Bank is joining other fintechs struggling in a worsening economic environment. The charter bank announced last week that it recently laid off 75 employees, or about 10% of its workforce. The cuts are the result of increased inflation and market volatility, Varo Chief Executive Colin Walsh said in a July 19 staff message. “As […].

Fintech 52
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Tradeteq selects XDC Network to launch Trada Tokens

The Paypers

Tradeteq , a World Economic Forum member, has selected the XDC Network to launch TRADA Tokens, a fully regulated, trade finance-backed fungible security tokens.

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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.

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How JPMorgan is developing an internet of money

American Banker

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UK aims to break free from EU rules with new financial services bill

The Banker

The UK government’s Financial Services and Markets Bill sets out evolutionary change, reframing some of the inherited EU rules that it deems to be overly complex or restrictive. James King reports.

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How fintechs are responding to their falling valuations

American Banker

Fintech 92
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CRIF registers as a PISP with the Central Bank of Ireland

The Paypers

CRIF , a company specialising in credit and business information systems, analytics, outsourcing, and processing services, has registered as a Payment Initiation Service Provider (PISP) with the Central Bank of Ireland.

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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.

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While Congress talked, banks led on overdraft innovation

American Banker

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InvestCloud partners with Rabobank to improve its financial planning tools

The Paypers

InvestCloud , a US-based digital transformation platform, has partnered with Netherlands-based bank Rabobank to provide its both private and retail clients with digital financial planning tools.

Tools 36
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CFPB takes second bite at the apple with TransUnion lawsuit 

American Banker

Apple 78
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Barclays buys stake in crypto firm Copper

The Paypers

UK-based multinational banking player Barclays has bought a stake in the crypto custody firm Copper , following the firm’s latest raise.

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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.

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Truist hires a new head of diversity, equity and inclusion

American Banker

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Financial Services Innovation Lab and Fiserv partner

The Paypers

The Financial Services Innovation Lab (FSIL) and Fiserv have partnered on a new initiative to better understand consumer financial health.

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CFPB urges student loan servicers to help military personnel get debt relief

American Banker

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Huawei and MuRong release mobile payment solution together

The Paypers

Global tech giant Huawei and China-based IT provider of payment export and scenario-based finance MuRong have partnered to release a Mobile Payment and Micro Finance Solution.

Mobile 31
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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.