ATM Marketplace
FEBRUARY 6, 2023
Despite the rise of cashless and contactless payment in recent years, cash is far from dead, according to a panel of experts convened at December's Self Service Innovation Summit in Hollywood, Florida.
South State Correspondent
FEBRUARY 8, 2023
After last week’s FOMC rate increase of 25 basis points, the yield curve is more inverted than at any time in the previous 30 years. The current yield curve presents various challenges for community bankers for revenue generation and risk management. In this article, we will outline the significance of the yield curve shape and what it may portend for community banks.
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FICO
FEBRUARY 9, 2023
Home Blog FICO Six Steps to Growth in a Global Economic Squeeze Learn how banks and other financial institutions can use personalization to drive growth in spite of global economic uncertainty FICO Admin Thu, 12/19/2019 - 16:29 by TJ Horan Vice President, Product Management expand_less Back To Top Thu, 02/09/2023 - 12:30 Right now, we’re all wrestling with the squeeze on household incomes and rising inflation.
Gonzobanker
FEBRUARY 8, 2023
Fintech startups looking for funding in 2023 are finding that it isn’t as easy as it was a few years ago. According to CB Insights, fintech funding in the U.S. totaled $3.9 billion in Q4 2022, down 79% from Q4 2021. The total number of deals funded dropped from 423 in Q4 2021 to 342 in Q4 2022, representing a 73% decline in the average funding amount per raise from $43 million down to $11.4 million.
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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
South State Correspondent
FEBRUARY 8, 2023
If you are looking for insight into how artificial intelligence can help in banking, we give you the Unified Deposit Formula that can be used for raising deposits. Before using machine learning, we, like most bankers, thought about deposit pricing along a single dimension – price and sensitivity. However, it turns out that price and sensitivity are only part of the equation.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Perficient
FEBRUARY 7, 2023
In “Behind the Golden Arches” by John Love, the author shares an anecdote of how in the early days of McDonald’s, the company was having cashflow problems despite its being a significant source of revenue for many farmers. In a meeting with a particularly large farmer who had made significant money from selling tomatoes, lettuce, and especially potatoes to McDonald’s, Ray Kroc asked for a cash infusion, and without hesitation, the farmer wrote him a $25 thousand-dollar check on the spot (a very
Abrigo
FEBRUARY 10, 2023
Upcoming revisions to the Corporate Transparency Act Stay current on CTA updates and leave comments on the proposed rulemaking regarding FinCEN's beneficial ownership registry. You might also like this upcoming webinar, "BSA officer’s mindset: A comprehensive look at your AML/CFT program." register now Takeaway 1 The Corporate Transparency Act mandates the creation of a public database for obtaining and holding beneficial ownership information.
ATM Marketplace
FEBRUARY 10, 2023
With many countries examining central bank digital currencies, a question emerges: How will this impact ATMs and cash usage?
Payments Dive
FEBRUARY 10, 2023
Like the company’s $1 billion sale of its Netspend consumer unit, the divestiture reflects efforts to refine its portfolio, said Global Payments CEO Jeff Sloan.
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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
TheGuardian
FEBRUARY 7, 2023
Bank sided with China in denying pension payouts to people who fled crackdown, says all-party group HSBC is complicit in human rights abuses against Hong Kong residents by siding with Chinese authorities and denying pension payouts to those who fled the authoritarian crackdown, an inquiry by peers and MPs has concluded. The report by the all-party parliamentary group (APPG) on Hong Kong took issue with the fact that banks including HSBC – which help to manage the compulsory pension fund that all
Abrigo
FEBRUARY 9, 2023
Name screening for sanctions compliance Understand regulatory expectations surrounding name screening and the best lists for your risk-based AML program. You might also like this webinar, " AML Compliance and Sanctions Requirements for Non-Bank Financial Institutions " WATCH NOW Takeaway 1 Financial institutions must understand regulatory expectations for name screening with sanctions lists.
BankInovation
FEBRUARY 10, 2023
Listerhill Credit Union has improved its call deflection rate through enhanced self-service digital offerings since selecting Glia as its digital partner in November 2021. The $1.2 billion credit union uses Glia’s online guide CoBrowsing to help consumers navigate its website through AI-enabled assistance and web page monitoring, according to a Glia release.
Payments Dive
FEBRUARY 6, 2023
“False declines are especially problematic in an environment where demanding customers with high expectations are not afraid to take their business elsewhere,” writes an Experian executive.
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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.
TheGuardian
FEBRUARY 9, 2023
Bank also plans to phase out similar lending for existing customers under its first climate transition plan NatWest has announced it will stop offering loans to new customers hoping to fund oil and gas exploration, extraction or production projects, as part of a wider climate transition plan due to be unveiled next week. The banks’s chief executive, Alison Rose, said similar steps would be taken to phase out the same funding for existing customers, meaning the bank would refuse to renew, refinan
CFPB Monitor
FEBRUARY 10, 2023
The CFPB recently issued an advisory opinion entitled Real Estate Settlement Procedures Act (Regulation X); Digital Mortgage Comparison-Shopping Platforms and Related Payments to Operators. The CFPB states that it issued the advisory opinion “to address the applicability of the Real Estate Settlement Procedures Act (RESPA) section 8 to operators of certain digital technology platforms that enable consumers to comparison shop for mortgages and other real estate settlement services, including pla
BankInovation
FEBRUARY 8, 2023
Accounting software provider Xero is broadening its relationship with payments fintech Stripe to provide faster payment collection and reconciliation for small- and medium-sized business clients.
Payments Dive
FEBRUARY 6, 2023
In pursuing profitable growth, point-of-sale software and payments provider Lightspeed Commerce is zeroing in on larger merchants as clients.
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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.
SWBC's LenderHub
FEBRUARY 9, 2023
Delinquency and collections are an inevitable part of the lending business, especially as we head into an economic future dominated by inflation and high interest rates. Delinquent accounts present cash flow and many other challenges for an institution, and the process of recovering those funds can be time-consuming, expensive, and inefficient if you don't have the right tools in place.
CFPB Monitor
FEBRUARY 9, 2023
The issue of whether a home equity line of credit (HELOC) that can be accessed using a credit card is a “credit card plan” subject to the Truth in Lending Act’s setoff prohibition is currently before the U.S. Court of Appeals for the Fourth Circuit. The American Bankers Association recently filed an amicus brief in the case in support of the appellee bank’s position that the prohibition does not apply to HELOCs. .
Jeff For Banks
FEBRUARY 4, 2023
At Bank Director's Acquire or Be Acquired conference , I had a sidebar conversation with a longtime friend and banking industry investment banker about ChatGPT, which stands for Chat Generative Pre-Trained Transformer. As described by ZDNet.com , "ChatGPT is a natural language processing tool driven by AI technology that allows you to have human-like conversations and much more with a chatbot.
Payments Dive
FEBRUARY 7, 2023
Even as the payments and fintech giant cut employees and sold off business units, the company spent $1 billion on acquisitions last year.
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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.
TheGuardian
FEBRUARY 7, 2023
Britons will be able to fix monthly home loan costs at level below Bank of England base rate Five-year fixed-rate mortgages priced at below 4% are back on sale for the first time since just after the disastrous autumn mini-budget. HSBC has repriced its range and introduced a new five-year fix at 3.99% for customers remortgaging who are looking to borrow up to 60% of the property’s value.
CFPB Monitor
FEBRUARY 7, 2023
In a motion for a preliminary injunction and accompanyin g memorandum of points and authorities , the California Department of Financial Protection and Innovation (DFPI) is asking a California state court to order fintech Opportunity Financial LLC (OppFi) to stop facilitating loans to California borrowers from its partner FinWise Bank at interest rates above the interest rate cap (generally 36% plus the Federal Funds Rate) imposed by the California Financing Law (CFL).
BankUnderground
FEBRUARY 9, 2023
Nicola Garbarino, Benjamin Guin and Jonathan Lee 5.2 million properties in England are at risk of flooding. To ensure the availability and affordability of flood insurance to households in flood-prone areas, the UK Government introduced an innovative reinsurance scheme, Flood Re, in April 2016. It provides insurers with an option to pass the flood-risk element of their policies on to the reinsurer at a lower fixed price according to property council tax band.
Payments Dive
FEBRUARY 9, 2023
Dan Schulman plans to retire at the end of the year, giving PayPal’s board a head start on finding his successor, he said during an earnings call with analysts.
Advertiser: Data Robot
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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