Sat.Aug 27, 2022 - Fri.Sep 02, 2022

How Banks Are Using AI for Document Intelligence

South State Correspondent

Banks are full of documents. Each document contains an extensive array of data. Just keeping track of non-disclosure agreement terms is a huge task.

Two key factors for a successful fintech integration

Accenture

As promised in our last post, today we are diving deeply into why a technology integration strategy is a critical enabler for a successful fintech acquisition and for fostering (and, ideally, for accelerating) the growth of the fintech. Historically, the banking industry has been slow to modernize.

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U.S. adults using mostly cash drops sharply

Payments Dive

Affluence and age significantly affect whether people choose to use cash for purchases, according to the latest Gallup poll on cash use in the U.S.

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How to create a credit risk rating system

Abrigo

Develop a credit risk rating system. Having an internally developed risk rating system is common. Here are some best practices on the creation process. You might also like this webinar, "Position yourself for high-yielding ag loan growth." WATCH . Credit risk rating. Start with the basics.

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Powering Personalization Through Customer Data

Finding the right CDP can help unlock the value of your customer data. This eBook offers guidance on choosing, deploying, and utilizing a CDP, along with a case study on how one bank put data into action to forge stronger connections with customers.

3 Electronic signature benefits for banks and credit unions

Abrigo

E-signature capabilities benefit both customers and staff Banks and credit unions that leverage electronic signature capabilities reap the benefits of a more efficient lending process. Would you like other articles like this in your inbox? Takeaway 1 Optimize the signature collection process.

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Banks push back against CBDC

Payments Dive

The nation’s biggest bank and bank trade groups stressed the risks of creating a central bank digital currency in comments to the Fed, and largely rejected the idea that a digital dollar would accomplish stated goals

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Brad M. Bolton: Compliance as a focal point

Independent Banker

Photo by Chris Williams. In today’s intense regulatory landscape, compliance extends to every aspect of banking, so much so that no one person or team can be solely charged with managing a bank’s compliance requirements.

Stablecoin News for the week ending Wednesday 31st August.

Daily Fintech

Here is our pick of the 3 most important stablecoin stories during the week. Are CBDC’s preparing to use regulators to out compete better alternatives? CBDC implementations are still in the very early stages and yet there are signs that Regulators are blocking and stifling innovation.

ADP Employment Change Report Reappears

South State Correspondent

ADP Employment Change Report Reappears. It had been a ritual for years during jobs week that the ADP Employment Change Report would be released on Wednesday and provide a bit of a heads up for the Friday BLS jobs numbers.

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Digitally Transforming the Engagement Experience for Financial Institutions

Customer experience has become a key differentiator. Learn how to launch your digital transformation by incorporating two customer experience trends into your digital transformation strategy: self-service & personalization.

Digital wallets dig in

Payments Dive

Continued adoption of digital wallets is likely to depend on the services that providers add, said Charlotte Principato, a financial services analyst for polling firm Morning Consult

Rebeca Romero Rainey: The spirit of service

Independent Banker

Photo by Chris Williams. This month’s Independent Banker focuses on budgeting issues with a special emphasis on the ICBA National Community Bank Service Awards.

Lemonade+Metromile: Bright spot on insurtech’s disruption roadmap

Daily Fintech

With a market cap of $2 billion, Lemonade had traded at about eight times its annual sales. Most traditional insurers, like Allstate and Travelers, trade at around one multiple of the year’s sales.

Goldilocks Appears in August Jobs Report

South State Correspondent

Goldilocks Appears in August Jobs Report. Nonfarm payrolls increased 315 thousand while the unemployment rate rose two-tenths to 3.7%. Expectations were for 298 thousand new jobs, so the actual increase was just above expectations but trailed July’s 526 thousand new jobs.

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The New 7 Facts on Housing Interest Rates and What Banks Can Do About It

The CRE multifamily sector has created tremendous momentum that won’t be slowed by interest rate hikes. Check out the facts right here!

Card companies urged to code gun sellers

Payments Dive

Calls from government officials urging Visa, Mastercard and American Express to support creating a merchant category code for gun sellers are growing louder

Charles Potts: Agtech’s innovation opportunities

Independent Banker

Photo by Enigma Images/iStock. By Charles Potts, ICBA.

Strategies for growing commercial loans

Abrigo

Expanding the commercial loan portfolio in today's market With the right strategies, banks and credit unions can expand their commercial loan portfolios successfully. You might also like this webinar on commercial lending strategy. WATCH .

Community Bank Hedging Options

South State Correspondent

Over the last 15 years, an ever greater percentage of community banks have embraced some form of interest rate hedging. Approximately 1,000 banks in the country use some form of hedging products to manage risk, generate fee income, or provide product offerings demanded by their customers.

The Threat That Could End Community Banking & What To Do About It

A critical risk now facing community banks from the technology world and how to solve it.

FedNow aims for September testing

Payments Dive

FedNow, an effort by the Federal Reserve Banks to speed up and modernize the U.S. payments system, is expected to launch as early as next May

Banking on brand purpose: Three ways to unlock ROI

Accenture

Great brands aim to make an impact on the world. They use purpose to drive action.

How to implement consistent credit risk pricing

Abrigo

Credit risk pricing Maintaining consistency in credit risk pricing can be broken down into three important factors. You might also like this webinar on loan policy best practices. WATCH. Takeaway 1 Risk rating using multi-factor contributions is key to building a strong credit risk pricing model.

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Community Bank Hedging Options

South State Correspondent

Over the last 15 years, an ever greater percentage of community banks have embraced some form of interest rate hedging. Approximately 1,000 banks in the country use some form of hedging products to manage risk, generate fee income, or provide product offerings demanded by their customers.

How to Choose the Best Automated Documentation System for Commercial Loans

Not all automated loan doc prep solutions are created equal. That is why we have put together a checklist to help you evaluate potential partners and find the best-automated documentation system for your requirements and needs.

Who’s afraid of FedNow? Not Visa

Payments Dive

Visa's CFO on Wednesday brushed off any concerns about the threat of new competition from FedNow, or any other real-time payments system

Lindsay LaNore: Lessons from an escape room

Independent Banker

By Lindsay LaNore, ICBA. As teams, how well do we work under pressure? The ICBA Community Banker University team recently had a chance to think about that when, at our annual strategy and teambuilding meeting, we found ourselves locked in an escape room.

Loan-pricing models: What to consider for loan origination software

Abrigo

Leveraging the efficiencies gained from lending software Banks and credit unions that leverage an integrated lending and credit platform reap the benefits of a consistent, efficient and defensible lending program. Would you like other articles like this in your inbox? Lending and Credit Software.

Markets Still Adjusting to Jackson Hole

South State Correspondent

Markets Still Adjusting to Jackson Hole. Treasury yields continue to adjust from the tough talk at Jackson Hole last Friday, and that adjustment is mostly in the form of higher yields. The 2yr note overnight briefly hit 3.48% which eclipsed the 3.43% high set back in mid-June.

Digital Commercial Lending Technology Case Study: Increasing Loan Volume and ROI

In this Commercial Lending Case Study, you'll discover how to leverage digital lending technologies to accelerate growth and leapfrog the competition in the private lending market. A new and innovative approach to mortgage lending — growing lending volume by orders of magnitude.