American Banker
DECEMBER 22, 2023
Banks, payment companies, mortgage lenders and insurance providers are racing to seize an advantage from generative artificial intelligence. Some have been especially aggressive in deciding which workflows — or entire jobs — can be handed off to AI.
Perficient
DECEMBER 18, 2023
In the fast-paced realm of finance, the significance of regulatory risk and compliance management practices cannot be overstated. This blog post delves into the pivotal role these practices play in ensuring the stability and success of financial institutions and banks. By adopting a proactive stance and leveraging technological advancements, financial entities can navigate the regulatory landscape with greater resilience and efficacy.
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CFPB Monitor
DECEMBER 28, 2023
Several financial services trade associations wrote to CFPB Director Rohit Chopra voicing their concerns with the Advisory Opinion regarding Section 1034(c) of the Consumer Financial Protection Act. The trade associations include the American Financial Services Association, the Bank Policy Institute, the Consumer Bankers Association, and the U.S. Chamber of Commerce.
American Banker
DECEMBER 3, 2023
A small bank stock index posted its biggest gain of the year in early November before that progress faded. What will it take for investors to sustain confidence in the sector?
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Discover the key benefits of portfolio loans and learn how to streamline your lending process with our infographic, "5 Things Lenders Need to Know About Portfolio Loans & Their Documentation." Find out how portfolio loans can maximize borrower potential by consolidating multiple properties under a single loan, reducing paperwork, and lowering closing costs.
American Banker
DECEMBER 21, 2023
Tanya Otsuka's confirmation gives the Democrats control of the National Credit Union Administration's board for the first time since 2016. Here's how that will impact its agenda.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
American Banker
DECEMBER 12, 2023
The top five community banks averaged a return on average equity of 75.37% as of June 30, 2023.
ATM Marketplace
DECEMBER 15, 2023
Cybersecurity needs to be at the top of the agenda for every industry. This is especially the case for the financial institutions which are always in the cross hairs of cyber criminals and fraudsters.
BankInovation
DECEMBER 13, 2023
Financial institutions are looking to generative AI for software development, chatbots and operational efficiencies, and more AI applications are expected to surface in 2024. Gen AI for software development, for one, is expected to be “transformational” in the financial services industry, according to Mastercard’s “Generative AI: The transformation of banking” report, released Dec. 4.
Payments Dive
DECEMBER 11, 2023
The network is advancing technologies to let consumers and businesses more easily use its cards, after doubling the number of merchants that accept them over the past five years.
Speaker: Brian Muse-McKenney, Chief Revenue Officer & Matt Simester, Cards and Payments Expert
In today’s world of social media, dating apps, and remote work, businesses risk becoming irrelevant or getting "ghosted" if they fail to meet the evolving needs of Gen Z consumers. In this new webinar, Brian Muse-McKenney of Episode Six and Matt Simester of Payments Consultancy Limited will reveal key considerations banks should factor into their efforts to develop target products for the next generation of bank customers.
CFPB Monitor
DECEMBER 7, 2023
The Office of the Comptroller of the Currency (OCC) has issued a bulletin (2023-37) that provides guidance on managing risks associated with “buy now, pay later” (BNPL) lending. The BNPL loans addressed in the bulletin are loans that are payable in four or fewer installments and carry no finance charges. The bulletin cautions banks about the risks to banks and consumers associated with BNPL lending. .
BankBazaar
DECEMBER 8, 2023
Do you have a toxic aunty in the family? You know, the one that hints around about finances or keeps asking why you’re not married yet? Yes, you know who we’re talking about! Come to think of it, maybe ‘anti’ is derived from the word ‘aunty’! Who knows? So, this ‘AUNTY-Corruption Day ’, here’s a poem to show you how not to be a shady aunty! On this Anti-Corruption Day, here is a tale, Of Credit Cards and scores , with a humorous trail.
Gonzobanker
DECEMBER 7, 2023
It’s time for banks and credit unions to finally execute those C&I lending priority initiatives. Senior bank and credit union executives have ranked commercial and industrial (C&I) loans as a top lending priority over the past several years in Cornerstone Advisors’ annual What’s Going On in Banking research. But further analysis shows the execution is not measuring up.
TheGuardian
DECEMBER 27, 2023
We celebrate the companies that went the extra mile … to inflate their balance sheets and let down loyal customers These are troubling times for big business. Traders, fighting for survival, need to focus on money. They absolutely do not have the time and resources to hand-hold unreasonable customers who insist on receiving goods and services in return for their outlay.
Speaker: Gary Dmitriev
Our upcoming webinar aims to demystify the process of selecting and implementing automation tools for financial institutes. This session will provide your roadmap for vetting potential solutions, focusing on due diligence, vendor assessments, and aligning technology with strategic goals. We’ll also address the critical issue of innovation fatigue, offering tips on maintaining enthusiasm and momentum for new initiatives.
ATM Marketplace
DECEMBER 8, 2023
Self-service technology allowed operators to allocate employees to mission-critical tasks while ATMs and cash recyclers handled traditional transactions. Still, the specter of replacing human workers with machines has hung over the self-service trend.
Payments Dive
DECEMBER 13, 2023
The tech giant has linked with the buy now, pay later companies to develop installment payment options to be offered next year.
CFPB Monitor
DECEMBER 27, 2023
The CFPB and Justice Department filed a joint complaint last week in a Texas federal district court against Colony Ridge Development, LLC and three related entities (collectively, “Colony Ridge”) in which the agencies allege that Colony Ridge engaged in discriminatory targeting of Hispanic consumers with predatory financing and other unlawful conduct. .
BankUnderground
DECEMBER 20, 2023
Daniel Albuquerque and Jamie Lenney Rent prices have risen by 9% on average in England since the Bank of England’s Monetary Policy Committee (MPC) started raising interest rates in December 2021. Alongside this rise in prices has been a widening in the gap between reported supply and demand in the rental sector, with tenant demand continuing to rise in 2023 amidst falling supply ( RICS survey ).
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Shifting liability for digital fraud losses represents a significant challenge for financial institutions and payment service providers. In response to the global surge in digital fraud, regulators are introducing policies that transfer the cost of fraud from defrauded customers to financial institutions. ThreatMark’s newly released white paper, "The Liability Shift: Understanding Fraud Losses Responsibility and Mitigation," provides an in-depth analysis of this shift, its implications, and stra
Realwired Appraisal Management Blog
DECEMBER 19, 2023
A goal-setting technique is to write a letter to yourself today pretending it’s Q1 2025, reflecting on events as if they’ve been completed. What would you write to your future self? What did you accomplish? Maybe a project you’ve started that you hoped to finish. It brings next-level intention, self-focus and outcomes. Don’t feel foolish.
TheGuardian
DECEMBER 26, 2023
Campaign at leading universities such as Oxbridge and UCL warns lender it will miss out on top talent if it finances fossil fuels Hundreds of students from leading UK universities have launched a “career boycott” of Barclays over its climate policies, warning that the bank will miss out on top talent unless it stops financing fossil fuel companies. More than 220 students from Barclays’ top recruitment universities, including Oxford, Cambridge, and University College London, have sent a letter to
ATM Marketplace
DECEMBER 22, 2023
The recent Self-Service Innovation Summit provided examples of payment systems, interactive touchscreens, voice interaction modules, AI-enabled identity verification software, multi-cellular routers, scan engines, security systems, self-service robots and more.
Payments Dive
DECEMBER 8, 2023
Sen. Dick Durbin took to the Senate floor Thursday to push for a vote on the Credit Card Competition Act, taking a swipe at United Airlines along the way.
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Most people dread the nearing of the month-end close and reconciliation process, and who can blame them? It's typically a tedious, long, stressful process; but it doesn't have to be. Implementing automation into your month-end process can significantly reduce this headache by automating up to 40% of your reconciliation and saving nearly 30% of your time spent.
CFPB Monitor
DECEMBER 20, 2023
Colorado and New York are not waiting for the Fair Credit Reporting Act rulemaking to eliminate creditor use of medical debt announced by the CFPB in September 2023. As we previously blogged , in the past two years, Equifax, Experian, and TransUnion have made significant changes with respect to medical debt collections by removing unpaid medical collections under $500 from consumer credit reports, removing paid medical collections from credit reports, and extending the time period before unpaid
BankUnderground
DECEMBER 21, 2023
Rebecca Freeman As another year draws to an end and the blog prepares for some downtime over the festive period, we wanted to take a look back at the blog in 2023. In case you missed any of our posts the first time round, the five most viewed posts for the year were: How house prices respond to interest rates depends on where they are in the country Why lower house prices could lead to higher mortgage rates Bomadland: How the Bank of Mum and Dad helps kids buy homes ‘There is all the difference
Realwired Appraisal Management Blog
DECEMBER 5, 2023
Some Chief Appraisers were thrown into their role. The role carries significant responsibilities, as it directly impacts a bank’s risk assessment and lending decisions. Some lacked an appraisal background which added a steep learning curve. Also, what does success look like for a new Chief Appraiser?
TheGuardian
DECEMBER 15, 2023
Independent review, launched after Nigel Farage’s complaints, finds bank may have breached procedural rules An independent review has found no evidence that NatWest Group’s private bank Coutts has been closing customer accounts due to their political views, but found it may have breached rules by failing to give due notice or explain why they were being shut.
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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
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