Sat.Jan 07, 2023 - Fri.Jan 13, 2023

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6 payments trends to watch in 2023

Payments Dive

FedNow, embedded payments, deal-making, cybersecurity and more mature BNPL will be dominant themes, among others, in the industry this year.

Trends 501
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‘My hobby is banking’

ABA Community Banking

Meet Saleem Iqbal, ABA’s Community Bankers Council chair. The post ‘My hobby is banking’ appeared first on ABA Banking Journal.

Community 111
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What drives ROA?

South State Correspondent

In a previous article ( HERE ), we analyzed industry performance and demonstrated that the average five-year net interest margin (NIM) and return on assets (ROA) are unrelated. The correlation coefficient (R 2 ) between these two variables is NEGATIVE 0.02 (essentially no explanatory relationship). This lack of connection has been a general observation in the banking industry for decades.

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Fintech funding tumbled in 2022

Payments Dive

U.S. fintech funding for the fourth quarter of 2022 was down nearly 80% compared to the same quarter in 2021, CB Insights said Wednesday.

Fintech 367
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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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By the Numbers: 77% of banks feel pressure to collaborate with fintechs

BankInovation

As the banking space continues to evolve, financial institutions are finding that companies they previously considered rivals may be potential partners. In a survey of 792 bank decision-makers in 50 countries conducted by France-based Sopra Banking Software, 77% of senior banking executives said they “feel pressured” to partner with fintechs to stay relevant in the […].

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The Big Mistake When Pricing Deposits

South State Correspondent

Many banks work hard to have a low-cost deposit base only to undermine their efforts. One of the biggest mistakes bank make when pricing deposits is advertising an above-market rate, thereby shortening deposit duration and increasing negative convexity for that one account and the whole product offering. This subtle distinction might be lost on many inexperienced bankers, and it is worth a review – while the rate impacts an account, the mere advertising also affects the account.

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Affirm users jolted by multiple charges

Payments Dive

The buy now, pay later provider said it encountered a “technical issue” and that transactions would be corrected at banks within three to seven days.

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Americas FSI Digital Commentary: 3 Ways to Accelerate Digital Strategy in 2023

Cisco

As a change agent serving the financial services industry for over 20 years, it is a great privilege to collaborate with Bank, Insurance, and Wealth Management institutions to devise and execute digital transformation strategy, solve complex business problems, and leverage technology to strengthen business results. Ending a chaotic 2022 with the Federal Reserve in their December meeting raising interest rates to control inflation another 50 basis points following four consecutive 75 basis point

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CFPB files amicus brief in Fourth Circuit arguing Regulation E protections apply to prepaid account loaded with pandemic-related unemployment assistance

CFPB Monitor

The CFPB has filed an amicus brief in Mohamed v. Bank of America, N.A. in which it argues that a prepaid card loaded with pandemic-related unemployment benefits is a “prepaid account” subject to Regulation E, including its error resolution requirements.

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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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Bond Portfolio Trends: Fourth Quarter 2022

South State Correspondent

Examining Bond Portfolio Trends: Fourth Quarter 2022. Beginning in May 2012, we started tracking portfolio trends of our bond accounting customers here at SouthState|DuncanWilliams. At present, we account for over 130 client portfolios with a combined book value of $13.96 billion (not including SouthState Bank), or $107 million on average per portfolio.

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Amex acquires B2B automation company Nipendo

Payments Dive

The acquisition is the latest B2B move for the card company, which expects Nipendo’s capabilities to strengthen its position in that market.

Company 475
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NFTs hit the mainstream

ATM Marketplace

Cryptocurrency has taken a big hit of late with the bankruptcy of the FTX crypto exchange, but one crypto entrepreneur that has brought crypto to the vending space believes the technology has a promising future: particularly the oft maligned NFT.

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CFPB proposes registry for supervised nonbanks using form contracts containing arbitration provisions, waivers, or other limits

CFPB Monitor

The CFPB has issued a proposed rule to establish a system for the registration of nonbanks subject to CFPB supervision that use “certain terms or conditions that seek to waive consumer rights or other legal protections or limit the ability.

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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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Banks Urge SBA to Keep Ban on Fintech Lenders

Banking Exchange

Entities that are not federally regulated should not be allowed to make SBA-approved loans, industry groups argue Compliance Feature3 Feature Compliance Management Compliance/Regulatory Small Business PPP Covid19.

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Will PayPal get a new CEO?

Payments Dive

The digital payment pioneer’s CEO Dan Schulman faces speculation about his exit. “We think he could move on from PayPal, legacy intact,” one analyst team wrote.

Payments 417
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Examining banking trends in 2023

ATM Marketplace

We have now entered into 2023, and it's time to look ahead to see what's on the horizon for branches, self-service and overall banking trends this year.

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UK could face ‘banking crisis worse than 2008’ if City fails to prepare for fossil fuel collapse

TheGuardian

Report from climate activist groups says City is unprepared for potential collapse in value of fossil fuel assets The UK could suffer 500,000 job losses and be forced to spend £674bn of taxpayer cash to rescue its banks, unless the City prepares for the value of fossil fuels to collapse as a result of climate crisis regulations , research shows. The report, published by a collective of climate activist groups known as the One to One campaign, suggests those financial repercussions could eclipse

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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.

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What does the rise in the inflation mean for financial stability?

BankUnderground

Kristina Bluwstein, Sudipto Karmakar and David Aikman. Introduction. Inflation reached almost 9% in July 2022, its highest reading since the early 1990s. A large proportion of the working age population will never have experienced such price increases, or the prospect of higher interest rates to bring inflation back under control. In recent years, many commentators have been concerned about risks to financial stability from the prolonged period of low rates, including the possibility of financia

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These payments companies could be acquisition targets

Payments Dive

With industry acquisitions ramping up this year, payments analysts have pinpointed a pack of potential payments company targets.

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IoT Buyers' Guide

ATM Marketplace

IoT can scale as far and wide as its connectivity and data security will allow — from the tiniest devices featuring built-in wireless connectivity to HD video surveillance systems, enabled by cellular routers or gateways. The potential is there, but choosing the right solutions requires careful consideration.

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Hopes of sharp fall in household energy bills as HSBC cuts gas price forecast

TheGuardian

Bank slashes predicted 2023 European wholesale price by 30% as mild weather reduces demand HSBC has slashed its forecasts for future wholesale gas prices in response to mild weather in Europe – raising hopes of a sharp decline in household energy bills. The bank cut its 2023 forecasts for the price of gas traded in Europe by about 30% and its forecast for 2024 by 20%.

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Top 10 Benefits of Automating Loan Modifications for Commercial Lenders

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.

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New Jersey Attorney General settles lawsuit against merchant cash advance providers

CFPB Monitor

The New Jersey Attorney General recently announced a settlement in its lawsuit against Yellowstone Capital LLC, its parent company, and various subsidiaries and affiliates alleging that the defendants violated the New Jersey Consumer Fraud Act (CFA) and the New Jersey.

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PayPal, Visa team on faster cross-border payments

Payments Dive

PayPal’s Xoom service has linked with Visa Direct to offer real-time debit card deposits in 25 countries where U.S. residents can send money.

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That Pesky Intern

Gonzobanker

The truth stings when it comes to transformation. We now join a special GonzoBanker “look behind the scenes” at Van De Lay Bank and Trust. CEO Marvin Fredrick is meeting with CFO Glenda Jenkins to go over their latest investor deck, which will highlight 2022 earnings performance and emphasize the strategic strength of the institution. The two have asked their new college intern, Tony Juarez, to join them because he’s “really good at PowerPoint.”.

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Savings: Britons urged to act soon as some interest rates pass 4%

TheGuardian

Consumers have got used to poor returns on savings accounts, but there are now better deals If you are one of the millions of people whose savings are languishing in an account paying little or no interest, it might be time to act because you could be earning 4.25%, or more on your cash. Earlier this week the Coventry building society warned that Britons have a collective £268bn sitting in easy and instant access accounts paying no interest – an increase of more than £9.6bnon a year ago.

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Finding “The One:” The Ultimate Guide to Selecting Financial Software

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

As finance and accounting practitioners, you are expected to complete daily operations as well as to manage next generation tools and resources to support a business that is growing in complexity. Having the right software can be critical in juggling and meeting those high expectations. The path to the right software, however, is paved with challenging decisions.