Accenture
NOVEMBER 3, 2022
A recent Accenture survey found that embedded finance offerings to small and medium-sized enterprises could increase global bank revenues by as much as US$92 billion by 2025. Embedded finance offers banks a huge opportunity to grow their businesses. I’ve asked my colleague Chris Jaggard to share his insights into this opportunity. Chris is the Commercial….
Payments Dive
NOVEMBER 16, 2022
The CEOs of Brex, Splitit and Paystand weigh in on what’s to come in the year ahead, commenting on the trends, challenges, regulation and M&A.
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Independent Banker
NOVEMBER 30, 2022
Photo by Chris Williams. People want to be a part of something bigger than themselves, and community banks provide that opportunity. Community banking is about serving the greater good. As community continuators, we are part of something bigger than ourselves. We support civic clubs, Lions Clubs, the Relay for Life, our local schools and so much more, because these issues matter to the communities we serve.
Cisco
NOVEMBER 29, 2022
The functioning of global economies is partially reliant on a secure and protected financial services infrastructure. It is the reason why financial services is one of the most highly regulated and highly fortified industries. Therefore financial institutions require a more resilient operating model, one that has the capability to reduce risk at scale and protect the business amidst unpredictable change.
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Gonzobanker
NOVEMBER 22, 2022
Now is the time for bankers to engage lawmakers in how the crypto and digital asset market shapes up. Picture a 1970s mom making a sarcastic statement to her irresponsible son, “ Well you’ve just earned yourself a weekend of chores.”. Remember back to the creepy Mr. Vernon from the Breakfast Club who, growing tired of Bender (Judd Nelson) talking back to him, declared, “Congratulations, you just bought yourself another Saturday detention.”.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
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Accenture
NOVEMBER 2, 2022
The payments industry has undergone unprecedented transformation in recent times given the global pandemic, geopolitical shifts, recalibration of supply chains, accelerating digitalization and significant economic turbulence. The fascinating conversations around payments at the recent Sibos conference highlighted just how fast things are changing. The conference was attended to the same level as pre-pandemic and some….
Payments Dive
NOVEMBER 18, 2022
“Congress has a responsibility to bring much-needed transparency and competition” to credit card swipe fees, writes the chairman of the trade association for 7-Eleven franchisees.
Independent Banker
NOVEMBER 30, 2022
Photo by goir/Adobe. The end of the year is the perfect time to share your appreciation for the hard work and successes of the year gone by. By Lindsay LaNore, ICBA. It’s the end of the year, a time for leaders to reflect on goals, metrics and performance over the past 12 months. It’s a time to set goals and a vision for the year ahead. And it’s also a perfect time to say, “thank you,” and share your appreciation for all the hard work and successes of the year gone by.
Cisco
NOVEMBER 15, 2022
Venmo, just like Google, has become a proper noun AND a verb. Venmo solved a problem of an individual wanting to pay another individual (or even small business) without having to use cash, check or even debit/credit card. Open banking made this possible. Open banking allows third-party financial services companies to access consumer banking, transaction, and other financial data via the secure use of APIs.
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Business operations are getting increasingly complex, shareholders are demanding more, and your auditors are breathing down your neck like never before. In this high-pressure environment, it’s important to remember that reconciliation activity is your last line of defense against financial fraud and errors. Insisting on a manual process to handle month-end reconciliations is a risky endeavor that places an undue burden on your accounting team.
Gonzobanker
NOVEMBER 9, 2022
New approaches to talent and technology are needed to address changes in the wealth management business model. Wealth management and trust clients are some of the most lasting and profitable relationships a bank can attract, but the banking industry is simply missing the opportunity to realize these businesses’ vast strategic potential. As banks experience rate volatility and future increases in their costs of funds, businesses that drive noninterest income like trust and wealth management will
CFPB Monitor
NOVEMBER 28, 2022
On November 17, 2022, the Consumer Financial Protection Bureau (“CFPB”) announced in a blog post that it is in seeking to build a new data set that “will allow for a more robust understanding of market trends” in the auto market. According to the CFPB, over 100 million Americans have an auto loan, and auto loan balances (currently estimated at $1.5 trillion nationally) are on pace to surpass student loans as the second-largest debt category in 2023.
Accenture
NOVEMBER 17, 2022
Disruption has become business as usual This year’s Sibos theme, “progressive finance for a changing world,” captures how customer expectations have radically shifted the direction of the industry. In today’s environment, experience is everything. A pandemic. A war. And now, a looming recession. The list goes on as disruption has become business as usual, fundamentally….
Payments Dive
NOVEMBER 21, 2022
Ryan McInerney, who will become CEO of the card network juggernaut next year, recently detailed the areas where he sees opportunities for the company.
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What to expect? The commercial and industrial (C&I) lending sector has been undergoing a transformation in recent years thanks to technological advancements and changes in customer expectations. The traditional way of lending, where commercial lenders relied on manual attorney processes and legacy software solutions, is slowly becoming obsolete.
Independent Banker
NOVEMBER 30, 2022
Clockwise from top left: Grand Ridge National Bank, Wheaton, Ill.; Community Financial Services Bank, Benton, Ky.; Bank of Montana, Missoula, Mont.; CNB Bank, Berkeley Springs, W.Va.; Midwest Bank, Norfolk, Neb. What great resignation? In our annual workplace survey, employees of ICBA’s best community banks to work for told us they benefit from engaging cultures, opportunities for advancement and innovative benefits. » LESS THAN $250 MILLION.
TheGuardian
NOVEMBER 23, 2022
Report finds stock indexes provided by MSCI include companies using forced labour or constructing surveillance state in Xinjiang Many of the world’s largest asset managers and state pension funds are passively investing in companies that have allegedly engaged in the repression of Uyghur Muslims in China, according to a new report. The report, by UK-based group Hong Kong Watch and the Helena Kennedy Centre for International Justice at Sheffield Hallam University, found that three major stock ind
BankUnderground
NOVEMBER 24, 2022
Naoto Takemoto, Simon Jurkatis and Nicholas Vause. In less than two decades, the system of market-based finance (MBF) – which involves mainly non-bank financial institutions (NBFIs) providing credit to the economy through bonds rather than loans – has both mitigated and amplified the economic effects of financial crises. It mitigated effects after the global financial crisis (GFC), when it substituted for banks in providing credit.
CFPB Monitor
NOVEMBER 22, 2022
The U.S. Department of Housing Urban Development (HUD) recently issued a final rule permitting the use of private flood insurance policies with FHA-insured mortgage loans. HUD also issued Mortgagee Letter 2022-18 addressing with regard to FHA-insured loans general flood insurance requirements, flood insurance requirements for condominiums, manufactured homes and home equity conversion mortgage (HECM) loans (i.e., reverse mortgage loans), and private flood insurance requirements.
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ABA Community Banking
NOVEMBER 29, 2022
More than half of community bankers in a recent survey cited small business loans as a high priority in 2022, with most small business owners saying in the same poll that they plan to borrow an average of $2 million over the next two years. The post Survey: Small businesses seeking loan opportunities from community banks appeared first on ABA Banking Journal.
Payments Dive
NOVEMBER 22, 2022
The news report on workforce reductions at the payments processor follows its announcement earlier this month that it would embark on a $500 million cost-cutting program.
BankInovation
NOVEMBER 28, 2022
Wells Fargo is launching a digital-only product that runs on microservices to provide small, same-day loans to clients. The $1.8 trillion bank’s Flex Loan product has been in development since January and was integrated across multiple systems in real time using an API, Abeer Bhatia, CEO of retail financial services and personal lending at San […].
TheGuardian
NOVEMBER 30, 2022
Largest banks would still be ringfenced, while smaller lenders might not need to follow rules Ministers are considering relaxing rules brought in to stabilise the banking system after the credit crunch, as part of government plans to deregulate the City of London and spark a post-Brexit second big bang for financial services. The ringfencing regulations, introduced unilaterally by the UK in the wake of the 2008 global financial crisis, require lenders to separate their high street operations fro
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Bussman Advisory
NOVEMBER 26, 2022
FinTech Ecosystem Insights by Bussmann Advisory is our weekly newsletter with over 47’000 subscribers across different social media channels, summarizing relevant news and reports related to ecosystems around disruptive technologies, highlighting key updates from the industry as well as our portfolio companies: Apple and Elon Musk’s Twitter are on a collision course.
CFPB Monitor
NOVEMBER 15, 2022
The CFPB has filed a certiorari petition with the U.S. Supreme Court seeking review of the Fifth Circuit panel decision in Community Financial Services Association of America Ltd. v. CFPB that held the CFPB’s funding mechanism violates the Appropriations Clause of the U.S. Constitution. Given the daunting odds the CFPB would have faced in seeking to have the decision reversed by an en banc Fifth Circuit, it is not surprising that it chose to proceed directly to the Supreme Court.
ABA Community Banking
NOVEMBER 22, 2022
While borrowers are getting pinched by rising interest rates, senior savers are seeing meaningful returns for the first time in decades, former ABA Chair Laurie Stewart said in an interview on NPR’s “Marketplace” program last night. The post Stewart: Rising rates hit borrowers but bring ‘real money’ for savers appeared first on ABA Banking Journal.
Payments Dive
NOVEMBER 2, 2022
The money transfer company said it’s adding a new crypto feature to its mobile app, expanding on an attempt to appeal to a younger client set.
Speaker: William Hord, Senior VP of Risk & Professional Services
Enterprise Risk Management (ERM) is critical for industry growth in today’s fast-paced and ever-changing risk landscape. When building your ERM program foundation, you need to answer questions like: Do we have robust board and management support? Do we understand and articulate our bank’s risk appetite and how that impacts our business units? How are we measuring and rating our risk impact, likelihood, and controls to mitigate our risk?
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