Payments Dive
MARCH 23, 2022
The restaurant industry has experienced significant labor pressure amid the pandemic, and the pizza chain hopes provider DailyPay will bolster recruitment and retention efforts by helping workers avoid payday bills and overdraft fees.
Accenture
MARCH 21, 2022
There’s a buzz in the payments industry following Apple’s announcement that it will enable “tap on phone” on its devices. Let’s take a closer look at this opportunity and why everyone is talking about it. What is it? Tap on phone instantly turns a merchant’s smartphone or tablet into a contactless point-of-sale (POS) terminal that…. The post Is “tap on phone” the next big thing in payments?
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Perficient
MARCH 22, 2022
With inflation at a 40-year high and the economic ramifications of the COVID-19 pandemic still looming, many people are falling into delinquency, making revamping outdated debt collection practices a higher priority for financial institutions than ever. In their recent webinar, The ROI on Transforming Credit and Lending Customer Outreach , Perficient’s Byron Gifford and Scott Albahary discussed tried and true debt collecting methods, why they’re important, and how financial services institutions
South State Correspondent
MARCH 23, 2022
If your bank struggles to create a clear value proposition and brand differentiation, then we have a case study for you. In December 2021, a Brazilian bank, Nubank, went public in the U.S. and became the most valuable bank in Latin America. Their secret – fanatical customer service. This article looks at how this bank does it and provides a step-by-step breakdown of how you can incorporate their lessons into your bank to create outsized financial performance and differentiate franchise value.
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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
Payments Dive
MARCH 23, 2022
Hiring and retention are a top challenge for payments companies right now. Here’s what they’re doing to stand out from the crowd and win talent.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Jack Henry
MARCH 25, 2022
“Should you treat all of your customers or members the same way?”. I was listening in on a training session for tellers and customer service representatives when the trainer tossed that very question out to the attendees, sparking a lively discussion. “Yes,” came the instant reply. “All of our accountholders deserve top-notch service.”.
South State Correspondent
MARCH 23, 2022
Inverted Curves and Recession Signals. With the yield curve flat as a pancake across its belly, investors are wondering if the near inversion of the curve spells a coming recession. While the 2yr-10yr Treasury spread is still 21bps away from inverting, the trend is definitely going in that direction. While the 2yr – 10yr Treasury spread is probably the most quoted as a recession indicator, it does throw off false signals from time to time.
Payments Dive
MARCH 25, 2022
What you need to know and consider as you set up payment operations for your business.
CFPB Monitor
MARCH 24, 2022
Equifax, Experian, and TransUnion have announced that effective July 1, 2022, they will no longer include medical debt that was paid after it was sent to collections on consumer credit reports. In addition, the time period before unpaid medical collection debt appears on a credit report will be increased from 6 months to one year. The companies also announced that beginning in 2023, they will only report medical debt when the amount owed is at least $500.
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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
SWBC's LenderHub
MARCH 21, 2022
Last Week. Last week was marked once again by extreme volatility. On Wednesday, we had the Fed FOMC statement and presser. Stocks and credit risk assets were soothed by Chairman Powell’s words that his aggressive inflation fighting monetary policy wouldn’t bring on recession.
South State Correspondent
MARCH 21, 2022
Last week’s FOMC Meeting resulted in an increase in short-term interest rates by 25 basis points (bps) and projected seven rate hikes in 2022 and another four hikes in 2023. The FOMC projects the Fed Funds rate to reach 1.875% by the end of the year and 2.75% next year (see DOT plot below). However, these published projections may misrepresent the members’ forecasts, and short-term rates may be substantially higher than current thinking.
Payments Dive
MARCH 22, 2022
A U.S. coin shortage subsided for a bit early last year, but the problem is back. That led a group of trade organizations to complain to the Treasury Department this week, and to ask for help in making consumers aware of the coin crisis.
CFPB Monitor
MARCH 21, 2022
Last week, the CFPB published a blog post , stating that it “strongly encourages” mortgage servicers to participate in Homeowner Assistance Fund (HAF) programs. The Bureau asserts that it “remains focused on preventing avoidable foreclosures to the maximum extent possible and expects mortgage servicers to do the same.”. By way of background, HAF is a federal program that provides money to states, tribes, and territories to assist homeowners with housing costs.
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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.
Bobsguide
MARCH 21, 2022
CompatibL is proud to have been nominated in the following categories in this year’s FTF News Technology Innovation Awards: 5.Best Cloud-Native Computing Initiative: CompatibL Cloud Platform. 12.Best Digital Transformation Solutions Provider: CompatibL. 15.Best Middle-Office Solution: CompatibL Risk Platform. 22.Best Professionals Services Provider: CompatibL. 27.FinTech Person of the Year: Alexander Sokol, CompatibL. 28.Ops Business Person of the Year: Olga Orekhvo, CompatibL. 30.Software Solut
South State Correspondent
MARCH 21, 2022
Light Data Week but Heavy on Fed Speak. The week is light on economic data but heavy on more Fed speak. The microphones have already been turned on this morning and Atlanta Fed President Raphael Bostic was first out of the gate with several statements that sent Treasury yields immediately higher. First, he noted the Fed needed to get the funds rate to neutral as fast as possible, and he defined neutral as around 2.25%.
Payments Dive
MARCH 22, 2022
The New York-based company is stockpiling dollars as new and old payments players arrive in the buy now-pay later arena. Consumers are predicted to increase their BNPL spending, but the service also faces regulatory scrutiny.
CFPB Monitor
MARCH 23, 2022
The Department of Justice recently entered into a settlement with BayPort Credit Union to resolve allegations that it violated the Servicemembers Civil Relief Act (SCRA) by charging unlawful interest to servicemembers and repossessing vehicles owned by servicemembers without first obtaining the required court orders. As detailed below, the consent order requires BayPort to pay compensation to servicemembers who were charged unlawful interest and whose vehicles were alleged to have been unlawful
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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.
BankBazaar
MARCH 21, 2022
There is no one way to gain knowledge. Anyone can tell you that. But are you a believer in it? Or have you made up your mind on ‘things’ being learnt a ‘certain way’? We’re talking about those very things, a little differently, today! Are you a poet and don’t know it? Get it? Get what we did there? This World Poetry Day, let’s awaken the poet in us and learn something we could use – through rhyme!
Gonzobanker
MARCH 23, 2022
Entrepreneurial bankers have a chance to establish themselves as commercial metaverse lenders. Claiming to be the first bank in the metaverse, JPMorgan announced the opening of a “lounge” in Decentraland. Upon entering the lounge—which was established by Onyx, the bank’s blockchain unit—visitors are greeted by a digital portrait of Jamie Dimon (which morphs into the image of the bank’s head of crypto) and a roaming tiger.
Payments Dive
MARCH 21, 2022
A report this month from the organization outlines a litany of complaints about buy now-pay later, such as hidden fees, and suggests the industry is trying to evade consumer protection laws.
ATM Marketplace
MARCH 22, 2022
Tom Harper, CEO of Networld Media Group and ATMIA's founding director, shares memories of Mike Lee, who is retiring as CEO of ATMIA in June.
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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.
SWBC's LenderHub
MARCH 21, 2022
After two years of navigating disruptions to the economy following the COVID-19 pandemic, experiencing historic highs and lows in the labor market, cleaning up a global supply chain mess, and making recovery gains, it would be nice if we could enjoy a period of relative calm.
BankInovation
MARCH 25, 2022
To fund its acquisition of Bank of the West and its subsidiaries, the Bank of Montreal is offering 18,125,000 common shares at a price of $149 per share. Gross proceeds will be $2.7 billion for the Canadian bank. The offering is being underwritten on a bought-deal basis by a syndicate of underwriters led by BMO […].
Payments Dive
MARCH 25, 2022
Sightline is hiring the big bank after raising significant equity capital last year. Payments processors have unveiled new services as online gambling has increased over the past few years.
ATM Marketplace
MARCH 25, 2022
When it comes to the ATM industry, you need to keep your eye on these two trends: the growth of Bitcoin ATMs and innovative security solutions
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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