Sat.Nov 19, 2022 - Fri.Nov 25, 2022

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Community Bank BaaS Provider Creates Private ‘Metaverse’ for Fintechs

The Financial Brand

This article Community Bank BaaS Provider Creates Private ‘Metaverse’ for Fintechs appeared first on The Financial Brand. Building its own interactive 3D ecosystem gives a tech-savvy community bank potential entrée to over 5 million potential customers. This article Community Bank BaaS Provider Creates Private ‘Metaverse’ for Fintechs appeared first on The Financial Brand.

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Debunked! Are Bank Merger Approvals Taking Longer?

Jeff For Banks

I enjoy my Twitter community because I get diverse views on banking, sports, politics and entertainment. One of my Tweeps, Rick Childs , a Crowe partner, recently tweeted about the amount of time it is taking merger deals to get regulatory approval. His numbers are raw, and buck the conventional wisdom that regulators are dragging their feet on approvals.

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The Few, the Proud, the Protected — Provisions in SCRA That Financial Institutions Must Be Aware Of

Perficient

SCRA stands for the Servicemembers Civil Relief Act. The history of the SCRA can be traced back to a Civil War moratorium that protected Union soldiers and sailors from collection actions, divorce proceedings, and other legal issues during wartime. These protections resurfaced in 1918 with the Soldiers’ and Sailors’ Civil Relief Act. The Act was revisited frequently in the 20 th Century and became the Servicemembers Civil Relief Act in December 2003.

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A Bank Marketer’s Guide to Hacking the Human Brain

The Financial Brand

This article A Bank Marketer’s Guide to Hacking the Human Brain appeared first on The Financial Brand. To craft more effective marketing messages, banks and credit unions should tap into the ‘default decisions’ that all humans make. This article A Bank Marketer’s Guide to Hacking the Human Brain appeared first on The Financial Brand.

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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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Visa’s next CEO sees a world of growth

Payments Dive

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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The Crypto Brat Pack Just Earned Themselves Regulation

Gonzobanker

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.”.

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Strengthening the resilience of market-based finance

BankUnderground

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.

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FIS may cut thousands of workers, Bloomberg reports

Payments Dive

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.

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Stewart: Rising rates hit borrowers but bring ‘real money’ for savers

ABA Community Banking

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.

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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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Transactions: American Express, Square partner on credit card

BankInovation

American Express and digital payment platform Square are teaming up to launch a credit card for Square merchants on the AmEx network. The expanded partnership will better support small businesses by organizing expenses and managing cash flow, according to a release. “Our brands will offer a credit-card product specifically designed for Square sellers, backed by […].

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Finalists announced for Self-Service Innovation Awards

ATM Marketplace

This year's finalists for the 2022 Self-Service Innovation Summit Awards include innovators in payments, vending and more.

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Demand for credit cards climbed this year

Payments Dive

Consumer demand for credit cards rose this year over prior years, and card issuers increasingly approved their applications despite the worsening economic climate.

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G4S strike prompts fears of festive cash shortages at banks and shops

TheGuardian

More than 1,000 staff who deliver money to firms such as Barclays, Asda and Tesco to take action More than 1,000 security workers who deliver cash and coins to some of the UK’s biggest banks and supermarkets have voted to strike in December, raising the prospect of potential cash shortages in the run-up to Christmas. The 48-hour strike by 1,156 members of the GMB union who work for the security company G4S is due to take place from 3am on 5 December, after a 97% vote in favour of industrial acti

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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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CFPB expands consumer complaint access to local governments

CFPB Monitor

In a recent blog post , the CFPB announced that it has started sharing consumer complaint data with local governments through its Government Portal. The Government Portal gives local, state, and federal government agencies access to more granular information about consumers’ complaints and companies’ responses than the public is able to view through the CFPB’s public-facing Consumer Complaint Database.

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Video: How to Avail No-Cost EMI on Amazon

BankBazaar

Here’s a quick video tutorial that will show you how to avail no-cost EMI offers on Amazon using your YES Bank-BankBazaar FinBooster Credit Card or your RBL Bank BankBazaar SaveMax Credit Card. Ready to explore no-cost EMI offers on top electronics with your Credit Card and pick out your favourite? Just click the link below: Shop With Your YES Bank Card >> Shop With Your RBL Bank Card >> The post Video: How to Avail No-Cost EMI on Amazon appeared first on BankBazaar - The Definit

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Holiday shoppers boost card use this year

Payments Dive

Families of all income levels plan to increase holiday spending this year, and they expect to rely more heavily on credit cards for their purchases.

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Major funds exposed to companies allegedly engaged in Uyghur repression in China

TheGuardian

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

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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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The New York Department of Financial Services Requests Information Regarding Private Student Loan Refinancing

CFPB Monitor

On December 22, 2021, New York State Senate Bill 2767A was signed into law. The Bill establishes the Private Student Loan Refinancing Task Force (the “Task Force”), which was charged with “study[ing] and analyz[ing] ways lending institutions that offer non-federal student loans to students of New York institutions of higher education can be incentivized and encouraged to create student loan refinance programs.

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Best FD Interest Rates in November 2022

BankBazaar

If guaranteed returns are in your short-term or long-term financial goals, a fixed deposit is what you may be looking for. Opting for a fixed deposit is a sure-shot way of creating wealth without the risk of fluctuating interest rates that occur due to changing economic and market conditions. …and because we have your best ‘interest’ at heart, we have done the research so you can make an informed decision while planning an investment portfolio.

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Afterpay, Expedia link for travel BNPL

Payments Dive

The buy now-pay later provider and the travel booking company are teaming up to allow consumers to spread out payments for flights and hotels.

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The savior CEO and the empty promise of ‘stakeholder capitalism’

TheGuardian

Companies may claim to serve employees, communities and the planet – but two books show profit still comes first American CEOs are a self-assured bunch but it takes a certain level of hubris to conclude that your skills making money and climbing the corporate ladder also equip you to solve social and environmental challenges. While promising to save the world is increasingly part of the chief executive’s job description, two timely new books make clear that this grandiose notion remains little m

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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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This week’s podcast episode: Mortgage redlining: a look at ongoing challenges for banks and non-banks, with special guest Abby Hogan, regulatory attorney and former analyst in the Office of Fair Lending and Equal Opportunity, Consumer Financial Protection Bureau

CFPB Monitor

We first review the origins of mortgage redlining and discuss the concept of reverse redlining and new theories of redlining. We then look at a wide range of topics including: the application of redlining enforcement to non-banks; the use of the Equal Credit Opportunity Act and Fair Housing Act to challenge redlining; activity at state level targeting redlining; the types of evidence regulators will look for when examining for redlining or bringing an enforcement action; potential penalties for

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Congress bill aims to address ATM crime with heftier penalties

ATM Marketplace

A bill in Congress aims to address ATM theft by putting independent ATMs under federal purview.

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BNPL connected to overdraft charges, card fees: study

Payments Dive

Heavy users of buy now-pay later ? which researchers said inspires consumers to spend beyond their means — showed larger declines in financial health, a recent academic study determined.

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First Community Bank in $113M Acquisition

Banking Exchange

The deal will add approximately $500 million in assets to the Virginia-based company Management Feature M&A Feature3 Community Banking.

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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.