South State Correspondent

JANUARY 23, 2023

No doubt you have heard other bankers talking about ChatGPT. This AI-powered digital assistant, technically called “generative AI,” has taken banking, and society, by storm. In three months, it has become the primary tool of many bankers, helping make banks more efficient across the organization. Our innovation working group, called Spark, has been playing with the tool for the past several months, and this article details how we use it to jump our productivity by 20%.

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Tools Examples Analysis Data 370

Payments Dive

JANUARY 23, 2023

In a new report, a group of international organizations give a broad overview of routes for improving international payments systems.

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Payments Groups System Report 301

Banking Exchange

JANUARY 23, 2023

In separate initiatives, the ABA and CFPB are seeking to add to consumer protection measures related to mortgage lending Mortgage Credit Feature Mortgage Mortgage Compliance Mortgage/CRE Feature3 Compliance/Regulatory Duties

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Regulation Compliance Lending 148

Payments Dive

JANUARY 23, 2023

How economic stress challenged payments companies in the final months of 2022 will be closely watched in upcoming earnings reports.

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Company Payments Report 261

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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

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BankInovation

JANUARY 23, 2023

Microsoft Corp. is investing $10 billion in OpenAI, whose artificial intelligence tool ChatGPT has lit up the internet since its introduction in November, amassing more than a million users within days and touching off a fresh debate over the role of AI in the workplace.

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Tools 92

Banking Exchange

JANUARY 23, 2023

Almost nine in 10 CFOs expect commercial lending to be a “major source of profitable growth” this year Retail Banking Financial Trends Feature Lines of Business Technology Feature3 Financial Research

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Lending Survey Trends Retail 78

CFPB Monitor

JANUARY 23, 2023

The U.S. Court of Appeals for the Second Circuit recently ruled that a plaintiff who alleged that Experian had violated the Fair Credit Reporting Act by including a discharged student loan debt on his credit report had not alleged an inaccuracy for purposes of the FCRA requirement that consumer reporting agencies (CRAs) follow reasonable procedures to assure the accuracy of information included in consumer reports. .

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Report 78

Banking Exchange

JANUARY 23, 2023

Farmington State Bank plans return to community banking roots after crypto platform’s collapse Community Banking Blockchain Bitcoin Cryptocurrency Digital Feature Feature3

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Community Bank Marketing Bitcoin cryptocurrency 78

CFPB Monitor

JANUARY 23, 2023

The CFPB has issued a new circular (2023-01) that addresses the circumstances under which “negative option marketing practices” can violate the CFPA prohibition of unfair, deceptive, or abusive acts or practices. The circular uses the term “negative option” to refer to “a term or condition under which a seller may interpret a consumer’s silence, failure to take an affirmative action to reject a product or service, or failure to cancel an agreement as acceptance or continued acceptance of the o

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Marketing 78

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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

Report

The Paypers

JANUARY 23, 2023

Indonesia-based IBF Net has launched the world’s first Metaverse on the Algorand blockchain in order to support digitalisation in the Islamic world.

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blockchain 78

CFPB Monitor

JANUARY 23, 2023

On January 23, 2023, the New York Department of Financial Services released guidance with the stated goal of helping to protect customers of virtual currency businesses in the event of an insolvency or similar proceeding by imposing new custody and disclosure requirements on virtual currency entities that act as custodians. Specifically, the guidance focuses on four areas for virtual currency entities acting as custodians (or “VCE Custodians”): Segregation of and Separate Accounting for Custome

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New York 78

TheGuardian

JANUARY 23, 2023

The bank didn’t take account that English is not her first language and initially refused to investigate My mother, JK, has been a Lloyds Bank customer for 30 years and last summer fell victim to authorised push payment fraud. She was scammed out of close to £30,000. English is not her first language, and I have been trying to help her get the money back.

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Fraud Payments Groups 70

The Paypers

JANUARY 23, 2023

Leaders of Brazil and Argentina have made a joint statement announcing their preparatory work on creating a common currency, inviting other Latin American nations to join the process.

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National 68

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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.

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BankInovation

JANUARY 23, 2023

HSBC USA’s Tom Halpin, head of global payments solutions in North America, is focused on listening to customer needs as the bank prioritizes digital-first engagement. The $167 billion bank, owned by $2.

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Payments America Innovation Fintech 52

The Paypers

JANUARY 23, 2023

Binance has announced that one of its SWIFT partners has decided to ban USD transfers below USD 100,000 as of 1 February 2023.

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BankInovation

JANUARY 23, 2023

Brinda Bhattacharjee, chief operating officer for transaction banking in platform solutions at Goldman Sachs, will headline the fireside chat at the Bank Automation Summit U.S. 2023 on Thursday, March 2, at 10:00 a.m. ET, to discuss the bank’s digital-first strategy in its transaction banking business. Bank Automation Summit U.S.

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The Paypers

JANUARY 23, 2023

Leaders of Brazil and Argentina have made a joint statement announcing their preparatory work on creating a common currency, inviting other Latin American nations to join the process.

National 66

National 66

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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.

US

BankInovation

JANUARY 23, 2023

Grasshopper Bank is partnering with finance automation platform Ramp to provide virtual and physical corporate cards with a host of features to its business clients.

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Cards Tools Digital Banking Fintech 52

The Paypers

JANUARY 23, 2023

Multinational banking group HSBC has received an official warning from UK’s Competition and Markets Authority (CMA) regarding failures in providing the correct information about the Open Banking processes.

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Groups Marketing 56

CB Insights

JANUARY 23, 2023

We mined Yardstiq ’s interviews with software buyers to understand their views on cross-border payments solutions. Download our scorecard to quickly compare the below vendors. To read the interview transcripts for each solution, reserve your Yardstiq subscription here. Adyen dLocal Ebanx MFS Africa Nium Rapyd Other cross-border payments vendors mentioned by buyers include: Airwallex Currencycloud HomeSend Railsr Stripe Thunes Wise Download the Vendor Scorecard: Cross-border payments First name L

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Company Payments Software 36

The Paypers

JANUARY 23, 2023

TAB , a UK-based bridging lender, has integrated Open Banking into its processes.

Technology 63

Technology 63

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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.

Compliance

American Banker

JANUARY 23, 2023

Payments 85

Payments 85

The Paypers

JANUARY 23, 2023

Global digital bank FV Bank has announced the launch of a cross-border foreign exchange (FX) payments service for its US-based and international account holders.

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Payments Digital Banking US 41

American Banker

JANUARY 23, 2023

Cards 83

Cards Community Bank Industry Community 83

The Paypers

JANUARY 23, 2023

UK-based fintech company Paysend has partnered with JMMB Money Transfer to offer secure and affordable deposit-to-account transfers to their Jamaican customers.

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Fintech Security Company 41

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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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