Sat.Nov 13, 2021 - Fri.Nov 19, 2021

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Key trends shaping the future of payments

Accenture

In a post-COVID world we have seen dramatic changes in the way customers pay, from the further shift towards a cashless society to a digital revolution in e-commerce payments. As we look forward, we see these trends accelerating and new payments rails emerging. Market context Based on Accenture’s proprietary Global Payments Revenue forecasts, APAC is expected to see the strongest payment growth at….

Trends 431
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If You Can't Beat Them, Join 'Em

SWBC's LenderHub

“After all, we are not communists” – Don Emilio Barzini, The Godfather Part One. As we enter the most confusing investing chapter in The Great Pandemic, I’ve been thinking a lot about what are some good, or maybe even great, investments to take advantage of the current dislocations as well as the ones to come. I have been thinking of this since a strange thing happened to copper on the London Metals Exchange (LME) back in the month of October.

Capital 148
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(Some of) The macroeconomics of working from home

BankUnderground

John Lewis. Increased working from home (WFH) for public health reasons during the pandemic has spawned a debate about whether this shift might become permanent. In this post, I try to sketch out some of the (macro) economics of a longer-run post-pandemic shift towards more WFH. I argue that: i) on consumption, it won’t affect aggregate expenditure, it will just reallocate it across space and sectors ii) in property markets, effects hinge on supply responses; iii) for output, cost-savings to fir

National 110
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2 keys to good ATM, Bitcoin ATM placement

ATM Marketplace

Often, stores shove ATMs and Bitcoin ATMs in inconvenient spaces. Here are two questions to ask to ensure your ATM is in the right spot.

ATM 119
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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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Auto financiers: What does your future look like?

Accenture

It feels like the end of the year is approaching at breakneck speed. Here in Chicago, Illinois, the days are getting shorter, and the temperatures are dropping. Thanksgiving is not far off. All of which makes me think it’s a good time to take stock before we head into the holidays. I’ve covered a lot…. The post Auto financiers: What does your future look like?

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Scams Alert: We Can All Fall Victim to Social Engineering and Fraud

FICO

This week is International Fraud Awareness Week — but every week is Fraud Awareness Week for FICO, as we focus on helping banks and other financial institutions worldwide detect and manage fraud. Fraud is a big burden for such organizations but there are of course other victims – people just like you and me. Their lives can be turned upside down and their finances ruined when they become victims of clever scam artists.

Fraud 105
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JPMorgan sues Tesla for $162m after Musk tweets soured share deal

TheGuardian

Investment bank says it lost millions because of tweets by Elon Musk that he might take electric carmaker private JPMorgan has sued Tesla for $162.2m, accusing Elon Musk’s electric car company of “flagrantly” breaching a 2014 contract relating to stock trading options that Tesla sold to the bank. The options, or warrants, give the holder the right to buy a company’s stock at a set “strike” price and date.

Company 99
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Growth in digital payments: A cross-industry view

Accenture

Digital payments are gaining popularity as cash usage declines around the world. While card payments still dominate in countries where they have a large incumbent advantage, digital products like payment apps, digital wallets, buy now pay later, and account-to-account (A2A) payments are gaining traction. This trend is driven by changing customer behaviors and reimagined customer….

Industry 290
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Listen: Weekly Wrap discussion on how Temenos is accelerating innovation

BankInovation

In this week’s “Weekly Wrap” podcast, the Bank Automation News team discusses some of the latest from core and digital banking solutions provider Temenos gleaned from its SCALE developer conference, where the company showcased how it is fostering innovation and bringing new fintech ideas to market faster. In a similar vein, the team addresses the […].

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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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Lucas Stangl of Merchants Bank Earns Accredited ACH Professional Certification

MerhantsBanks

Lucas Stangl has earned the Accredited Automated Clearing House Professional (AAP) designation according to Kerri Bronk, Vice President/Senior Operations/eChannel Officer for Merchants Bank. “We strive to be a resource for our customers and Lucas becoming an AAP exemplifies our commitment to being a true financial partner. Automated Clearing House payments can be complicated so having […].

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JP Morgan chief skips quarantine as he jets into Hong Kong

TheGuardian

Jamie Dimon let off 21-day hotel quarantine because he runs a ‘very huge bank’, says Carrie Lam JP Morgan’s billionaire chief executive Jamie Dimon was allowed to skip Hong Kong’s strict 21-day hotel quarantine rules because he runs “a very huge bank” with “key business in Hong Kong”, the territory’s chief executive, Carrie Lam, said on Tuesday. Dimon flew into Hong Kong on Monday on JP Morgan’s private jet, becoming the first Wall Street bank boss to visit the territory or mainland China since

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Q3 2021 US credit card issuer snapshot

Accenture

Key themes Receivables showed positive YoY growth for the first time in five quarters. Purchase Volume growth continues to be quite strong, with all issuers reporting 15%+ YoY growth; AmEx and Chase, in particular, reported over 30% YoY growth. Net Charge-Offs continue to remain at historically low levels primarily due to high payment rates; all…. The post Q3 2021 US credit card issuer snapshot appeared first on Accenture Banking Blog.

US 221
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6 evolving trends in financial crime

BankInovation

With a footprint in markets worldwide as well as anti-fraud and anti-money laundering (AML) efforts in finance, online global marketplace provider Nasdaq has a front-row seat to evolving trends that invite in bad actors. The company has been working to root out abuses like stock manipulation and insider trading for years, more recently expanding to […].

Trends 98
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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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Examining ATM trends in 2021 and beyond

ATM Marketplace

Where are ATMs right now and where are they headed? Read more to find out.

ATM 133
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Confessions Of A Shopaholic | How To Curb Your Spending Habits

BankBazaar

Ever reach a point at the end of the month where you just pause and wonder where all your money went? Well, welcome to the club! . No matter how many times the little voice in your head hopelessly chants “Spend less, spend less…”, it often leads you nowhere. Be it splurging on those new pair of sneakers or that handbag you just can’t live without, one thing remains constant – your pockets are lighter, and often – emptier!

How To 78
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Tactfully Overcoming the Top 5 Delinquent Borrower Objections

SWBC's LenderHub

It’s been a tough 18 months for millions of Americans. The COVID-19 pandemic caused major job losses and employment interruptions, families have had to navigate paying for childcare services after working remotely for over a year, and savings from 2020 stimulus checks and extended unemployment benefits are starting to run dry for many.

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UiPath unveils on-premise solution

BankInovation

UiPath unveiled several its on-premise offering during its virtual conference Thursday and rolled out a number of updates, including increased support for citizen developer automation, more artificial intelligence (AI) capabilities, and automated security for bots. The biggest announcement was that the on-premise platform is now available and packaged on a cloud-native, container-based foundation that allows […].

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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.

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Payments for the Most Valuable

Jack Henry

Community banks and credit unions strive to build solid relationships with the consumers and small businesses that form the bulk of their accountholder base, but almost every community bank and credit union has a small collection of larger businesses that provide critical revenue and receive a lot of attention from branch staff, lending officers, and senior managers.

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CFPB issues request for information regarding assessment of HMDA rule

CFPB Monitor

Earlier this week, the CFPB issued a Request for Information (RFI) regarding an assessment of the significant amendments to the Home Mortgage Disclosure Act rules, known as Regulation C, adopted in October 2015 and subsequently revised in several additional rulemakings (the “HMDA Rule”). Responses to the RFI will be due 60 days after it is published in the Federal Register.

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Federal Home Loan Bank of Dallas Awards $18.5m for Affordable Housing

Banking Exchange

Subsidies will create or rehabilitate more than 2,100 housing units Community Banking Feature3 Feature Fair Lending Mortgage Credit Mortgage Mortgage/CRE Human Rights Inclusion Diversity.

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Temenos launches improved automations and developer support

BankInovation

Core and digital banking provider Temenos on Tuesday unveiled new automations and low-code support for attendees at SCALE, its virtual developer conference. Among the keynote announcements were additional low-code options such as standardized, drag-and-drop integration patterns, microservices, and more support for automated testing. The Geneva-based company also launched Temenos Exchange, which Martin Bailey, director of […].

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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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The Sure-Fire Way To Keep Your Festive Spending on A Budget

BankBazaar

Worried about overspending this festive season? Don’t fret. Here’s how you can manage your finances without burning a hole in your pocket. Spending a fortune, particularly during the festive season, is a woe we aren’t unbeknownst to. It is easy to get wrapped up in the festivities, letting your purse strings loose. This season, don’t cave in – ensure your budgeting plans don’t go astray.

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This week’s podcast: CFPB Director Chopra’s targeting of “digital” or “algorithmic” redlining: What it means for providers of technology and consumer credit

CFPB Monitor

After reviewing federal regulators’ traditional theory of redlining, we discuss the types of underwriting practices that are likely targeted by Director Chopra’s recent comments expressing concern about “algorithmic redlining,” examine how the use of machine learning (ML) underwriting models incorporating alternative data can be more inclusive than traditional logistic regression models and result in more approvals for protected class members and “credit invisibles,” and offer our thoughts on ac

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Financial Institutions Claim Regulatory Compliance Remains a Barrier for Digital Transformation

Banking Exchange

Annual report reveals regulations aimed at digital currencies and securing digital economies Compliance Compliance Management Compliance/Regulatory Digital Technology Financial Trends Feature3 Feature.

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Tech consortia launches new data security standards body

BankInovation

Eight application programmable interface (API), data and security compliance companies launched a new open finance data security standards body today. API platform and data network provider Plaid joined open finance API provider MX, employment and income verifier Truework and financial data platform Flinks to announce a new standards body of the Open Finance Data Security […].

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Addressing Top Enterprise Challenges in Generative AI with DataRobot

The buzz around generative AI shows no sign of abating in the foreseeable future. Enterprise interest in the technology is high, and the market is expected to gain momentum as organizations move from prototypes to actual project deployments. Ultimately, the market will demand an extensive ecosystem, and tools will need to streamline data and model utilization and management across multiple environments.