Perficient

MARCH 8, 2023

Throughout history and across cultures, women have been forbidden from opening bank accounts, owning property, and taking out loans. Fortunately, most societies today don’t legally bar women from partaking in these tasks, but the ancient history of shutting doors on women seeking greater financial control has left an undeniable gender gap in the world of financial services and a lingering, detrimental attitude that money management is a man’s job.

Innovation Strategies 275

Innovation Strategies Study Marketing Leadership 275

South State Correspondent

MARCH 6, 2023

In an article last week ( HERE ), we discussed why real estate loans underwritten at common debt service coverage ratio (DSCR) and loan-to-value (LTV) levels may quickly become substandard credits if capitalization (cap) rates normalize, as expected because interest rates are rising. Credits will deteriorate much faster if an economic downturn stresses net operating income (NOI).

Community Bank 195

Community Bank Community Lending Regional 195

American Banker

MARCH 7, 2023

Payments 87

Payments 87

Payments Dive

MARCH 6, 2023

While the digital payments pioneer has kept its PayPal and Venmo operations separate, the parent company expects them to converge in about a year.

Operations 435

Operations Payments Company 435

Advertisement

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

Lending

ATM Marketplace

MARCH 7, 2023

How do organizations protect ATMs? Everyone involved needs to work closely together to solve the industry issue.

ATM 120

ATM Industry 120

South State Correspondent

MARCH 7, 2023

Last week, we convened a group of 30 bankers to train on ChatGPT and ideate around new banking products related to the enterprise version. While we covered the 15 ways we use ChatGPT HERE to enable banking productivity, this class focused on productizing the application for banking needs. Since our last article, several companies, most notably JP Morgan Chase, Amazon, Verizon, and Accenture, have limited their staff’s interaction with the application.

Training 195

Training Video Tools US 195

Payments Dive

MARCH 7, 2023

The gunman in a 2019 attack at an El Paso Walmart store likely used a credit card to buy his gun online. This story is one in a series of pieces tracking payment methods for guns used in mass shootings.

El Paso 394

El Paso Cards Online Payments 394

CFPB Monitor

MARCH 9, 2023

The U.S. Department of Housing and Urban Development (HUD) recently issued a final rule extending the maximum term of an FHA loan modification from 30 to 40 years. The rule is effective May 8, 2023. HUD also issued Mortgagee Letter 2023-06 incorporating a 40-year standalone loan modification into FHA’s COVID-19 loss mitigation policies for situations in which partial claim funds are not available. .

Policies 148

Policies 148

Gonzobanker

MARCH 9, 2023

Mortgage lenders may be losing control of their LOS options This week, Intercontinental Exchange (ICE) and Black Knight announced an agreement to sell Black Knight’s Empower loan origination system (LOS) business to Constellation Software, Inc. This all but confirms speculation from lenders that Empower wasn’t a major factor in the Black Knight transaction , and lenders on Empower risked a migration to Encompass, ICE’s mortgage software platform, if the deal had gone through as-is.

Software 148

Software Resources Marketing System 148

Advertisement

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

Report

ATM Marketplace

MARCH 10, 2023

Cashless ATMs have been in the news cycle regularly, particularly in the cannabis space. These are more or less point-of-sale devices that mimic ATMs, but the devices can also land merchants in trouble as they violate ATM network rules.

ATM 111

ATM 111

Payments Dive

MARCH 9, 2023

Discover and Visa said Thursday they’re holding off on earlier plans to implement a new gun merchant category code on their card networks.

Cards 435

Cards 435

CFPB Monitor

MARCH 6, 2023

The CFPB has issued a new report ,“ Consumer Use of Buy Now, Pay Later: Insights from the CFPB Making Ends Meet Survey ,” that looks at the financial profiles of consumers who use buy-now-pay-later (BNPL) products. The report uses data from the CFPB’s 2022 Making Ends Meet survey (responses of 2,036 consumers) and the CFPB’s Consumer Credit Panel. .

Report 146

Report Survey Meeting Data 146

BankUnderground

MARCH 9, 2023

Jelle Barkema How concerned should policymakers be as UK business insolvencies have soared to 60-year highs ? This phenomenon has been extensively covered in the media; with media outlets attributing the record-breaking numbers to a ‘perfect storm’ of energy prices, supply-chain disruptions and the cost of living squeeze. Insolvencies are a popular measure of economic distress because they have implications for both the financial system and the real economy.

Trends 102

Trends Company Policies US 102

Advertisement

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.

US

Jeff For Banks

MARCH 5, 2023

Ted Lasso is a fictious coach for a fictitious 2nd division English football (soccer) league. So why was the reigning U.S. soccer league (Major League Soccer-MLS) coach of the year dissing on him? Jim Curtin is a candidate for the U.S. men's national soccer team (USMNT). And he was asked about Lasso in an interview. The context was that U.S. coaches are challenged to land coaching jobs in the most competitive leagues in the world.

Philadelphia 78

Philadelphia Wisconsin Leadership Kansas 78

Payments Dive

MARCH 9, 2023

The real-time payments system due later this year could have particular appeal to unbanked and underbanked Americans, Fed researchers say.

System 386

System Payments 386

CFPB Monitor

MARCH 6, 2023

The CFPB recently announced that it is seeking input on a trial disclosure sandbox application from the Independent Community Bankers Association (ICBA) for alternative disclosures under the Truth in Lending Act (TILA)/Real Estate Settlement Procedures Act (RESPA) Integrated Disclosure (TRID) rule for construction and construction-to-permanent loans.

Lending 146

Lending Community Operations 146

TheGuardian

MARCH 10, 2023

Shutdown and takeover of bank by regulators can be traced to the Fed raising interest rates and risk-averse investors US regulators seize assets of Silicon Valley Bank amid institution’s failure The shutdown and takeover of Silicon Valley Bank by regulators on Friday can be traced to the US Federal Reserve raising interest rates and souring the risk appetite of investors.

Regulation 82

Regulation US 82

Advertisement

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.

Lending

ATM Marketplace

MARCH 6, 2023

When it comes to payment processing, it is imperative for businesses to ensure that their systems are secure, efficient, and reliable. As the volume of cashless transactions continues to grow, the importance of thorough payment testing becomes even more critical.

System 70

System Security Payments 70

Payments Dive

MARCH 9, 2023

Illinois, Louisiana, Massachusetts, Missouri and Oklahoma are working with the government agency to expand payment options for SNAP consumers.

Louisiana 363

Louisiana Oklahoma Missouri Illinois 363

CFPB Monitor

MARCH 10, 2023

The CFPB recently announced that it is conducting a review of the Regulation Z mortgage loan originator rules under the Regulatory Flexibility Act (RFA) and is seeking comments on the economic impact of the rules on small entities. The CFPB advises that “[t]hese comments may assist the Bureau in determining whether the Loan Originator Rules should be continued without change or amended or rescinded to minimize any significant economic impact of the rules upon a substantial number of such small

Regulation 78

Regulation 78

TheGuardian

MARCH 10, 2023

FTSE 100 down almost 2% as troubles at tech-focused lender Silicon Valley Bank cause ripples An overnight sell-off of US banking stocks, sparked by troubles at the tech-focused lender Silicon Valley Bank (SVB), has seeped into European markets and sent the FTSE 100 down almost 2% on Friday. Investors were spooked by news that California-based SVB, which primarily lends to tech startups, had launched an emergency share sale to shore up cash after revealing it had lost $1.8bn (£1.5bn) when it sold

US 77

US Marketing California Lending 77

Advertisement

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.

Lending

ABA Community Banking

MARCH 9, 2023

How does a community bank whose bread and butter was mortgage lending make the business sustainable in a time when mortgages have increasingly moved to the nonbank sector? The post Podcast: How a community bank boosted its consumer mortgage program appeared first on ABA Banking Journal.

Community Bank 64

Community Bank Community Lending Customer Experience 64

Payments Dive

MARCH 7, 2023

Less than two years after launching in Australia, the buy now, pay later company is shuttering its operations there.

Operations 396

Operations Company 396

CFPB Monitor

MARCH 10, 2023

The CFPB announced earlier this week that it has entered into a Memorandum of Understanding (MOU) with the National Labor Relations Board (NLRB) that is intended to “help to identify and end financial practices that harm workers and to enhance the enforcement of federal consumer financial protection and labor laws and regulations.” .

National 78

National Regulation 78

TheGuardian

MARCH 7, 2023

Bank apologises after error results in elderly woman having account closed and phone and energy cut off An elderly widow was cut off from her money for three months and lost her phone line and energy supply when a banking error by Barclays marked her as deceased. Ninety-one-year-old Marjorie Roper* discovered that her pension and benefits payments had been stopped and her direct debits cancelled after a Barclays agent recorded that she had died and closed her account.

Payments 76

Payments 76

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.

Marketing