Accenture
AUGUST 12, 2021
Point-of-sale (POS) financing is one of the most interesting and dynamic areas of payments innovation today. Disruptive new entrants and macroeconomic trends are driving real change across the market. The ‘buy now, pay later’ (BNPL) sector is of particular interest here. The difference between BNPL and older POS credit offerings is that with BNPL the….
Jack Henry
AUGUST 12, 2021
Constant economic changes, evolving customer expectations, emerging technology, and other market challenges have forced banks to be even more innovative in their strategies to achieve business goals. Building on – or expanding upon – commercial services like escrow management is often an untapped strategy. Many banks are still relying on siloed data systems and manual processes (including labor-intensive, error-prone spreadsheets) to track and add sub-accounts.
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Accenture
AUGUST 12, 2021
While it’s no secret that the pandemic has supercharged digital payments adoption, the scale of the change in ecommerce is still breath-taking. Global ecommerce retail sales totalled $3.5 trillion in 2019. In 2021, they are forecast to reach almost $5 trillion. This represents a significant opportunity for the payments industry. The growth will also highlight some of the industry’s challenges.
CFPB Monitor
AUGUST 12, 2021
The Federal Housing Finance Agency announced this week that Fannie Mae will consider a loan applicant’s rental payment history in making underwriting decisions. According to the FHFA, the change was made as a means of expanding credit access. The FHFA’s announcement is yet another example of the growing use of alternative data by creditors in making credit decisions.
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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
BankInovation
AUGUST 12, 2021
Credit card fintech Upgrade has ambitions to offer an initial public offering within 18 months after announcing yesterday it has secured a $105 million series E round from the investment arm of Koch Industries. “We believe we’ll be ready to go public in the next 18 months,” CEO and co-founder Renaud Laplanche told Bank Automation […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
BankInovation
AUGUST 12, 2021
A panel of cybersecurity and financial crime experts from RBC, Simmons Bank and the Big Four Accounting firm KPMG will explore how automation technology and ID verification can thwart cybersecurity attacks in a special Bank Automation News webinar on Sept. 9, at 11:30 a.m. The panel will share best practices for stopping cybercrime and explore […].
SWBC's LenderHub
AUGUST 12, 2021
This year has been a transitional year for most financial institutions. After pivoting to remote workforces and implementing digital solutions due the pandemic in 2020, financial institutions have reopened their doors, welcoming employees and members to business as usual—well, kind of.
BankInovation
AUGUST 12, 2021
Once your organization has gone live with a big change—everyone is aligned on your new purpose, processes have been adjusted, and the technology has been implemented—you might be tempted to pat yourself on the back and consider your work done. In reality, the real work has just begun. You need to make sure the positive […].
CFPB Monitor
AUGUST 12, 2021
The California Department of Financial Protection and Innovation (DFPI) has issued second modifications to its proposed regulations to implement SB 1235 , the bill signed into law on September 30, 2018 that requires consumer-like disclosures to be made for certain commercial financing products, including small business loans and merchant cash advances.
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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
CB Insights
AUGUST 12, 2021
Moody’s , an integrated risk assessment firm, has acquired RMS , a risk management solutions provider, for $2B. Who are the parties to the deal? RMS: California-based RMS is a provider of climate and natural disaster risk modeling and analytics. The company has over 400 risk models that cover 120 countries. It expects to generate about $320M in revenue and $55M in operating income for the fiscal year ending in September 2021.
CFPB Monitor
AUGUST 12, 2021
We look at the practices found to be unlawful by CFPB examiners in these markets, discuss what the findings signal for future scrutiny of these markets by the “new CFPB”, and share practical takeaways for companies operating in these markets. Issues highlighted in our conversation include the CFPB’s findings regarding “unreliable furnishers,” furnisher handling of “frivolous or irrelevant” disputes, interest accrual on debts in collection, and mortgage servicer consideration of private mortgage
FICO
AUGUST 12, 2021
Financial Institutions’ compliance officers and teams should be concerned that Open Banking may render their existing AML/CTF and KYC compliance programs inadequate. Open banking is evolving around an ecosystem of third-party providers (TPPs). These companies interface with FIs’ systems – via any method from regulated Open Banking APIs to unmonitored screen scraping – in order to access data or transactional functions.
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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
AUGUST 12, 2021
US-based fintech TreviPay has announced the release of its one-click mobile payments app for B2B buyers.
BankDeals
AUGUST 12, 2021
Cambridge Savings Bank launched its new digital division, Ivy Bank, last month.
BankDeals
AUGUST 12, 2021
Cambridge Savings Bank launched its new digital division, Ivy Bank, last month.
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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
AUGUST 12, 2021
Acuant has added video KYC capabilities including face biometrics to its Trusted Identity Platform for fraud prevention and compliance with AML requirements.
BankDeals
AUGUST 12, 2021
Firefighters & Company Federal Credit Union's (Ohio) Kasasa Cash Checking, Kasasa Cash Back, and Kasasa Saver accounts offer very competitive rates.
The Paypers
AUGUST 12, 2021
Hong Kong-based cross-border payments company Currenxie has announced that it has closed a USD 10 million Series A funding round led by family office BF Belmont.
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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.
American Banker
AUGUST 12, 2021
The Paypers
AUGUST 12, 2021
TEMPO France , Velo Labs , and Bitazza Thailand have opened up a remittance corridor between 27 countries in the EU region and Thailand.
The Banker
AUGUST 12, 2021
The Bank of Jamaica has distributed $1.5m in central bank digital currencies to authorised institutions [from Global Risk Regulator].
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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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