Sat.May 18, 2024 - Fri.May 24, 2024

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Office Lending – Here is Why It is Not as Bad as The Market Thinks

South State Correspondent

Between now and the end of 2027, it is estimated that $2.2T of office loans is coming due. Much of this product lies on banks’ balance sheets. A high percentage of those office loans on banks’ balance sheet are balloon structures where the bulk of the loan’s principal is due. Equally worrisome is the large number of loans on banks’ balance sheets that are due for a rate reset where the interest rate will be almost double, thereby putting stress on borrowers.

Lending 195
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Modernize or Optimize? That Is the Core System Question

Gonzobanker

It’s “leave your emotions at the door” time when making a core system decision. Esteemed Gonzo readers, let’s get right to one of the core challenges in banking. Every financial institution needs to get real, tangible returns on every technology investment it makes, and core systems are a critical piece in increasing or hurting these returns.

System 133
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You Don’t Need Modern Fintech Products … You Need Extensible Products

Jack Henry

What’s more extensible than a product that allows you to solve a variety of use cases by combining components to suit your needs? Click to learn more.

Fintech 97
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Sorry Cash App, Gen Z still wants bank branches

Payments Dive

Young consumers are open to using the peer-to-peer payments app as their primary bank, but many say they won’t switch because they value having a physical branch.

Payments 243
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Case Study: First Mid Bank Fast-Tracks New Market Entry in Commercial Lending

Discover First Mid Bank's Expansion Success with Our Case Study! Discover how First Mid Bank & Trust fast-tracked market expansion through advanced automation and compliance solutions. This case study reveals their journey from facing challenges in Texas' complex legal landscape to achieving rapid market entry with GoDocs' innovative commercial closing platform.

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Bank survey: Military families cite low income, inflation as financial product challenges

ABA Community Banking

Roughly 30% of military families cite low income and lack of stability as a “primary challenge” they face with their current financial products and services, according to a new survey by the Fort Leavenworth, Kansas-based Armed Forces Bank. The post Bank survey: Military families cite low income, inflation as financial product challenges appeared first on ABA Banking Journal.

Survey 97

More Trending

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Reduce Credit Spreads to Increase Return

South State Correspondent

In last week’s article ( here ), we discussed why category and geographic diversification may be unfeasible for many community banks. We concluded that after a community bank sets limits on loan categories, the added benefit of geographic or loan category diversification is nullified. We discussed three main reasons why community bank diversification by geography and loan category does not enhance community banks’ resilience or performance.

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Cash App aims to add more features

Payments Dive

Block’s Jack Dorsey wants to improve Cash App’s customer service experience in order to entice more users to make it their primary bank, he said this week.

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Inside TD Bank’s gen AI pilots

BankInovation

TD Bank is exploring the use of generative AI within its institution through pilot programs. “Understanding how generative AI can be used to augment the work of our colleagues has always been our focus,” Imran Khan, head of TD Invent, the bank’s innovation arm, told Bank Automation News.

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The math behind small business lending: Problems & possibilities for banks & credit unions

Abrigo

Recent stats and dynamics of the small business lending market Understanding the small business lending landscape and potential efficiencies can help banks and credit unions grow their portfolios. You might also like this guide for smarter, faster small business lending. DOWNLOAD Takeaway 1 Financing plays a crucial role in small business survival and success.

Lending 195
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Exploring the Liability Shift: A Comprehensive Guide to Fraud Loss Responsibility and Mitigation

Shifting liability for digital fraud losses represents a significant challenge for financial institutions and payment service providers. In response to the global surge in digital fraud, regulators are introducing policies that transfer the cost of fraud from defrauded customers to financial institutions. ThreatMark’s newly released white paper, "The Liability Shift: Understanding Fraud Losses Responsibility and Mitigation," provides an in-depth analysis of this shift, its implications, and stra

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What is a DSCR Loan? Real Estate Investor's Guide

Commercial Lending USA

DSCR loans, "Debt Service Coverage Ratio loans," are financing for real estate investors that put the property's cash flow ahead of standard creditworthiness checks. This makes them a valuable tool for investors who want to grow their portfolios.

Tools 111
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Walmart and Capital One break up

Payments Dive

The retail behemoth and its credit card issuer said in a terse, joint press release Friday that they’re parting ways.

Capital 417
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JPMorgan identifies 3 gen AI uses

BankInovation

JPMorgan Chase has identified three uses for generative AI to boost efficiency. “AI, and particularly large language models, will be transformational,” Chief Operating Officer Daniel Pinto said during the bank’s Investor Day on May 20, noting that the bank has been investing in AI for “a number of years.” The $3.

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Selling England (no longer) by the pound: currency-mismatches and the dollarisation of UK exports

BankUnderground

Marco Garofalo, Giovanni Rosso and Roger Vicquery Most international trade is denominated in dominant currencies such as the US dollar. What explains the adoption of dominant currency pricing and what are its macroeconomic implications? In a recent paper , we explore a rare instance of transition in aggregate export invoicing patterns. In the aftermath of the depreciation that followed the Brexit referendum in 2016, UK exporters progressively shifted to invoicing most of their exports in dollars

Data 106
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Live Demo: How to Achieve Reconciliation Zen

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

Automation generally supercharges any process and brings its value to the forefront. See how infusing automation such as ART (our month-end close solution), into your close can get you to the next level of closing. We will share a live demo of SkyStem's solution, ART and share the key elements of month-end close automation. Through ART, we'll take a look at: What month-end close automation entails Which process steps can and should be automated Benefits of achieving process automation, and Why i

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Memorial Day Post: Honor Those Fallen During Our Afghanistan Withdrawal

Jeff For Banks

On August 26, 2021, ISIS-K detonated a deadly bomb outside of the Abbey Gate of Kabul's international airport. The blast killed 13 U.S. service members and 170 Afghans. It occurred amidst the chaos of the U.S. withdrawal from Afghanistan. The pullout was indeed chaotic and marked by a series of rapid events that unfolded unpredictably. Here's a sequence of events: Initial Plans The withdrawal was part of a broader plan initiated by the Trump Administration and continued by the Biden Administrati

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South Carolina embraces new EWA law

Payments Dive

This week, South Carolina became the fifth state to enact a law regulating earned wage access providers, but it doesn’t subject them to lending laws.

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Chase for Business approaches innovation in phases

BankInovation

JPMorgan Chase considers customer needs, competition and time to market when approaching product launches for small-business clients. “We really try to keep the small-business owner at the center of all of that innovation process at Chase for Business,” Jameson Troutman, head of product for small business at JPMorgan Chase, told Bank Automation News.

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UK cannot afford to give ‘cold shoulder’ to China, says City minister

TheGuardian

Bim Afolami’s comments distance British government from protectionist moves by US The UK cannot afford to give the “cold shoulder” to China, the City minister said on Monday, in comments that will distance the British government from the Biden administration’s protectionist crackdown. Addressing financial services bosses at the City Week conference in London’s Guildhall, Bim Afolami said it was “crucial” to engage with strategic competitors such as Beijing, and that the UK risked losing control

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The State of Automation in Financial Services 2024 Report

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

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Chatbots lead the way in AI banking

ATM Marketplace

ATM Marketplace spoke with Bank of America about the Erica chatbot and its continued development as an AI banking tool.

ATM 98
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Businesses boost use of digital wallets: Fed

Payments Dive

Business use of digital wallets rose last year more than their use of many other forms of payment, according to a survey commissioned by the Federal Reserve’s financial services unit.

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Transactions: Fintech Lili teams up with AWS for gen AI chatbot

BankInovation

Fintech Lili, which provides a business platform for small and medium-sized businesses, has teamed up with Amazon Web Services to deploy a generative AI-driven chatbot for its customers.

Fintech 115
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‘It’s not vital to spend five days a week in the office’: the bank boss who works from home

TheGuardian

While the big beasts of Wall Street rail against WFH, Mike Regnier of Santander UK says he wouldn’t have taken the job if he had had to commute all week At a time when ­banking bosses from Wall Street to Canary Wharf have been ­cracking down on working from home, Santander UK’s chief executive remains an outlier. While Goldman Sachs’s David Solomon has described home working as an “aberration” , and JP Morgan’s Jamie Dimon calls himself a “skeptic” of the trend that took off during the pandemic,

Trends 96
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New York Lien Law Essentials: 5 Key Facts for Commercial Lenders

Dive into the complexities of New York lien laws with our comprehensive eBook, 'New York Lien Law Essentials: 5 Key Facts for Commercial Lenders.' In this detailed guide, we explore the critical formalities necessary for lenders navigating ground-up construction and fix-and-flip projects in the New York market. From documentation requirements to the implications of non-compliance, learn how to safeguard your lending position and prioritize legal adherence.

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CFPB to classify BNPL loans as credit cards under consumer laws

American Banker

The Consumer Financial Protection Bureau issued a new interpretive rule designating buy now/pay later lenders as credit card providers, subjecting those services to consumer protections like the right to dispute charges and receive refunds.

Cards 89
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CFPB to treat BNPL loans like credit cards

Payments Dive

“Whether a shopper swipes a credit card or uses Buy Now, Pay Later, they are entitled to important consumer protections under longstanding laws and regulations,” CFPB Director Rohit Chopra said.

Cards 243
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Inside look: Synchrony’s AI training strategy

BankInovation

Synchrony Financial is investing in training its employees on emerging technology, with a focus on AI and automation. Training options include “technology certifications mapped to critical skills in areas like cybersecurity, software engineering and UX design,” Tim Christensen, senior vice president of product, digital, innovation and AI at Synchrony, told Bank Automation News.

Training 105
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Santander, Iberpay introduce global instant transfers

The Paypers

Spain-based Santander , in collaboration with Iberpay , has announced that it processed one of the first instant transfers based on the EPC’s OCT Inst scheme.

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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.