Accenture
APRIL 7, 2022
Cyber-attacks are becoming more sophisticated all the time, and financial institutions are under enormous pressure to protect their customers and networks from this threat. SWIFT’s Customer Security Programme (CSP) is designed to ensure that financial institutions keep up with the controls they need to address cyber threats. With 23 mandatory controls and 9 advisories in….
South State Correspondent
APRIL 6, 2022
Our recent sampling of 73 banks indicates that most banks have not adjusted loan or relationship pricing assumptions over the last two years. That could be a mistake as the environment has been radically different since 2020, and many banks are mispricing their commercial loans and relationships. In this article, we provide banks with four changes, that account for about 90% of performance, that should be made in loan pricing models, plus deliver the data around those changes.
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Jack Henry
APRIL 7, 2022
Partnering with large financial technology companies can be a tremendous opportunity for fintechs to gain exposure to more financial institutions and end-users. In return, large technology companies can benefit from the innovative solutions fintechs offer that can help them stand out from the competition and exceed customer expectations. Regardless, there’s no doubt that these mutually beneficial relationships regarding fintech in the banking industry are the future.
Payments Dive
APRIL 8, 2022
With the $1.5 billion acquisition of cryptocurrency payments firm Wyre, Bolt aims to bring crypto front and center within its online checkout capabilities and digital wallet. Crypto "will be a major part of Bolt’s strategy going forward," said CEO Maju Kuruvilla.
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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
Accenture
APRIL 6, 2022
The auto and equipment finance market is growing worldwide. Most current lenders are doubling down on their commitments, while other companies are excited to explore the opportunities. Whichever you are, there are three different approaches you could take—you could build a new business from scratch, buy an existing business or partner with a finance business….
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Abrigo
APRIL 7, 2022
The Key to Successful Mergers & Acquisitions Mergers and acquisitions are a great way to get ahead, but what might consolidation mean for your institution? You might also like this webinar, "Mergers & Acquisitions in a CECL Environment." WATCH . Takeaway 1 Due to their many benefits, mergers and acquisitions are on the rise in today's competitive financial marketplace.
Payments Dive
APRIL 6, 2022
As cryptocurrency adoption grows worldwide, many Americans are increasingly interested in it, according to several new surveys. However, many consumers acknowledge they still don’t fully understand cryptocurrencies.
Accenture
APRIL 6, 2022
One of the most remarkable things about payments right now is how easy they are to miss. Not that long ago, moving money around was a multi-step process that demanded one’s attention. You’d go to the ATM to get money, then go shopping, hand some over, and get some back. But today, thanks to technologies…. The post How convergence is fueling growth in payments appeared first on Accenture Banking Blog.
Perficient
APRIL 4, 2022
Recently, Digital Insurance issued the findings from Keynova Group on the 2022 Mobile Insurance Scorecard. While mobile has long been a part of the carrier offering – pay a bill, get an ID card, file a claim – this survey reflects the evolution of insurers from transactional into personalized servicing. I’ve long advocated that personalization includes three essential elements: . 1) Know Me – Data & Analytics Relevant to the Customer. 2) Learn About Me – Preferences and Interact
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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
South State Correspondent
APRIL 6, 2022
For any bank using Salesforce and/or nCino as their CRM and loan origination platform, respectively, or if you are considering those platforms, we would love to exchange best practice ideas with you. We will be holding an in-person roundtable session at the upcoming S&P Global Community Bank Conference 2022 at the Four Seasons Resort and Club at Las Colinas (Dallas) on May 16 th at 3pm.
Payments Dive
APRIL 7, 2022
The banks earn billions of dollars from credit and debit card interchange fees so why would they want Zelle stepping in to connect consumers directly to bank accounts? "Banks would never want to jeopardize interchange revenue," said one analyst.
Abrigo
APRIL 6, 2022
New Rule Outlines Computer-Security Incident Notification Obligations for Banks Financial institutions and their service providers should prepare to meet new computer-security notice requirements by May 1, 2022. . You might also like this webinar, "Russian Sanctions: Impact, Implications, and Best Practices." WATCH. Takeaway 1 Financial institutions must revise their incident response and business continuity procedures to meet new requirements by May 1, 2022.
Accenture
APRIL 4, 2022
How is operations perceived within your bank? As a back-end function ripe for continual cost reductions? Or as an embedded part of an integrated end-to-end design process, collaborating with other areas to create compelling and cost-effective experiences for customers? If your answer was the first rather than second of these options, it’s time for a….
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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.
South State Correspondent
APRIL 4, 2022
A yield curve shows interest rates associated with different contract lengths for a particular interest rate instrument. With recent interest rate volatility, the yield curve is changing shape daily, and there is much discussion about how the shape of the yield curve predicts the future strength of the economy. While economists may use the shape of the yield curve to gauge future economic strength, bankers should be paying particular attention to the lending curve.
Payments Dive
APRIL 6, 2022
While overall Russian card payments volume is expected to decline as U.S. card companies exit the country, Russia's Mir payments system and related cards may benefit, according to new research. U.S. payments companies are expected to forgo about $2.4 billion in annual revenue.
CFPB Monitor
APRIL 7, 2022
As previously reported , the Federal Housing Finance Agency announced that Fannie Mae and Freddie Mac will require servicers to suspend foreclosure activities for up to 60 days if the servicer has been notified that a borrower has applied for assistance from the Treasury Department’s Homeowner Assistance Fund (HAF). Fannie Mae and Freddie Mac have issued guidance documents implementing this requirement in Updated Lender Letter 2021-01 and Bulletin 2022-8 , respectively.
Jack Henry
APRIL 5, 2022
If we’ve learned anything from the pandemic, it’s that the old ways of handling lending processes will hold you back. We consistently hear deep frustration from banks and credit unions about drowning in paperwork, a lack of visibility, inconsistent processes, and the problems associated with disparate systems cobbled together to push loan applications through their pipeline.
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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.
Bobsguide
APRIL 7, 2022
London (5 April 2022): TS Imagine , the leader in trading, portfolio and risk management solutions for capital markets, today announces that it has successfully integrated with crypto platform Gemini. Using TradeSmart, the all-asset execution and order management system, TS Imagine clients are now able to connect to Gemini and place trades in Bitcoin, Ether and more than 75 other cryptocurrencies.
Payments Dive
APRIL 8, 2022
The tech juggernaut opened its first full-size checkout free Fresh store on the East Coast this week in suburban Washington, D.C., bringing the chain total to 27 nationwide. That latest opening in Fairfax, Virginia, is the first of four in that suburban area that Amazon plans to open.
CFPB Monitor
APRIL 7, 2022
A new CFPB report, “ Market snapshot: Consumer use of State payday loan extended payment plans, ” describes the requirements of state payday loan extended payment plan laws in the 16 states that have such laws. The report also compares extended payment plan usage to payday loan rollover and default rates. According to the CFPB, the report “is believed to be the first study to compare State extended payment plans and usage rates.”.
SWBC's LenderHub
APRIL 4, 2022
Last Week. Last week’s biggest market event in this reporter’s opinion was the continued sky-rocketing yield of the U.S. Treasury 2-year note as it rose another 19 basis points for the week with 2s 10s curve spread inverting Friday.
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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.
Bobsguide
APRIL 7, 2022
Birmingham, Ala. April 4, 2022 – NXTsoft , a company focused on data connectivity, data analytics, data management and data migration announced plans today to accelerate adoption of leveraging APIs to automate and easily access data through a zero-integration effort called Connectivity as a Service for financial institutions and FinTechs. With major core processors such as Jack Henry announcing plans to “unbundle” core system components, as they prepare for implementation of Section 1033 in the
Payments Dive
APRIL 6, 2022
The one-click checkout startup announced Tuesday it’s shutting down, despite the CEO promising heady growth this year as recently as January. Fast will "permanently discontinue" its Fast Checkout service on April 15, the company said.
CFPB Monitor
APRIL 4, 2022
The CFPB has entered into a consent order with Edfinancial Services, a student loan servicer, to settle the Bureau’s allegations that Edfinancial engaged in deceptive acts and practices in violation of the CFPA UDAAP prohibition. The consent order requires Edfinancial to pay a $1 million civil money penalty. According to the Bureau’s findings set forth in the consent order (which Edfinancial neither admits nor denies), Edfinancial made various misrepresentations to borrowers with Federal Family
SWBC's LenderHub
APRIL 5, 2022
“At times like these, the discussions in the corridors of power are about history, not politics or economics.” - Ashton Carter.
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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