CFPB Monitor

AUGUST 1, 2022

On July 18, the Federal Housing Finance Agency (“FHFA”) announced the launch of a new Office of Financial Technology with the goal of advancing effective risk management as it evaluates fintech developments in the housing finance space.

Financial Technology 78

Financial Technology Technology Fintech Compliance 78

PYMNTS

SEPTEMBER 14, 2016

Pivoting from concerns and risks around financial technology innovation in the banking system, the U.S. Comptroller of the Currency said the agency will roll out a new framework for regulating marketplace lending.

Lending 100

Lending Regulation Conference Study 100

Abrigo

JUNE 4, 2024

Navigating credit quality, compliance, and technology integration The ThinkBIG conference hosted by Abrigo fosters networking and professional development for bankers. Compliance, technology integration, and attracting younger customers were among the panel’s chief concerns.

Compliance 222

Compliance Community Bank Community Conference 222

PYMNTS

MARCH 7, 2019

Merchants and customers are now transacting under PSD2 and GDPR in the European Union (EU) — regulations that allow a greater window into how customer data is being used. While these regulations are aimed at increasing consumer trust by allowing them more transparency, many consumers in the region are still adjusting.

Lending 198

Lending Regulation Regional Data 198

Bank Innovation

JUNE 12, 2017

2017 was a tumultuous year, but despite some stops and starts, innovation in finance is only gaining more momentum.

Innovation 399

Innovation blockchain Trends Capital 399

Bank Innovation

APRIL 12, 2017

The marketplace lending industry is far from dead. Rather, it’s going through a reboot, which will include improved software, increased focus on regulation, and improved transparency. This was the upshot from a venture capital panel at a recent Bank Innovation event in San Jose.

San Jose 170

San Jose Lending Video Capital 170

PYMNTS

JANUARY 7, 2019

Government Accountability Office (GAO) said that financial regulators should look more closely at the role of non-bank tech companies in the small business (SMB) lending and consumer lending markets. Such alternative data, said the GAO, could pose risk to such lending decisions. Late last week, the U.S.

Lending 150

Lending Fintech Data Wyoming 150

PYMNTS

FEBRUARY 25, 2019

The panel, which traces its genesis back two years, is comprised of two groups, focused separately on lending and payments, and is in turn part of CSBS Vision 2020. “As We have formed a working group of state regulators to develop the model. We had some robust discussions with them about community banking and innovation.

Regulation 147

Regulation Fintech Community Bank Community 147

Abrigo

NOVEMBER 12, 2016

In their Spring 2016 Semiannual Risk Perspective , regulators have publicly acknowledged increasing risk in commercial real estate lending, so small business lending seems like it may be an alternative path. Many community banks and credit unions are turning to small business loans as a source of loan growth.

Lending 188

Lending Community Bank Community Analysis 188

Bobsguide

JULY 7, 2022

Financial institutions and retail brands gain a new embedded finance platform to help consumers access regulated loans at point-of-sale, powered by Banking as a Service. Financial institutions, distributors and merchants will benefit from a platform that makes it easy for their customers to access lending options.

Lending 68

Lending Seattle Regulation US 68

Abrigo

SEPTEMBER 2, 2020

Technology can create efficiencies that allow them to reimagine customer interactions moving forward. The PPP might have been the first time many community financial institutions saw such clear returns on digitization investments, but the same automation and efficiency gains can be found in other end-to-end lending solutions.

Lending 259

Lending Community San Antonio Survey 259

Abrigo

DECEMBER 5, 2023

AML Compliance Ten qualities of a successful BSA officer Hiring a Bank Secrecy Act (BSA) Officer for a financial institution involves looking for a unique experience level and skillset that ensures compliance with the BSA and related regulations. But what makes an exceptional BSA Officer?

Training 222

Training Compliance Regulation Software 222

Abrigo

APRIL 19, 2016

The Office of the Comptroller of Currency, recognizing the sweeping changes in technology and business practices that are affecting financial institutions, is recommending U.S. banks incorporate “responsible innovation” as they adapt quickly to these advances, but what exactly does that mean? Support responsible innovation.

Innovation 150

Innovation Fintech Risk Management Community Bank 150

Perficient

FEBRUARY 29, 2024

Driven by technological advancements, regulatory changes, and shifting consumer preferences, the banking industry must evolve and respond accordingly. Explore and integrate alternative data sources and innovative scoring models to offer fairer assessments of creditworthiness.

Trends 221

Trends Industry Analytics Compliance 221

PYMNTS

JULY 22, 2016

It feels like 2014 again with the ongoing popularity of alternative lending startups. It’s even more surprising given that 2016 could be the year that regulation begins to really kick in for these lenders — in the U.S., Alternative Lending. Find out how the more than $26.5 MarketInvoice. Redis Labs.

Lending 100

Lending Regulation Big Data Risk Management 100

PYMNTS

JANUARY 21, 2021

In the bid to hasten their digital transformation, when it comes to innovation , financial institutions (FIs) may benefit from an “app store” approach as they weigh existing and new solutions. In a nutshell: If banks don’t innovate in a way that is imaginative and proactive, they will lose customers. Cohen asked. It’s unthinkable.”.

Management 303

Management User Experience Innovation Fintech 303

Bank Innovation

MARCH 7, 2016

Today, the Consumer Financial Protection Bureau began accepting complaints regarding online marketplace lending. While no official regulations have yet been placed on online marketplace lending or investors, many industry watchers suspect this move is a prelude to the introduction of formal regulation in the online marketplace lending sector.

Lending 150

Lending Online Regulation Industry 150

Bank Innovation

JULY 11, 2016

The following is an email exchange with Glenn Goldman, a pioneer in alternative lending and CEO of Credibly, an online lender to small businesses. More regulation is likely coming to SMB online lending. How do you respond to this? Unfortunately, there are bad actors in every industry, and I think there’s Read More.

Lending 150

Lending Online Regulation Industry 150

Abrigo

SEPTEMBER 2, 2020

Technology can create efficiencies that allow them to reimagine customer interactions moving forward. The PPP might have been the first time many community financial institutions saw such clear returns on digitization investments, but the same automation and efficiency gains can be found in other end-to-end lending solutions.

Lending 195

Lending Community San Antonio Survey 195

Insights on Business

OCTOBER 3, 2018

IBM RegTech Innovations. These technologies bring capabilities that speed risk modeling, automate fraud detection, ensure regulatory compliance, enable distributed trust, and protect sensitive financial information. IBM is also developing an open automotive transaction platform for mobility services based on blockchain technology.

Industry 155

Industry Innovation blockchain Compliance 155

PYMNTS

FEBRUARY 9, 2017

Small business finance is one of the most competitive, innovative and challenging markets in which to operate. That dedication and focus is what led Fundbox to secure gold in the PYMNTS.com Innovation Project 2016 Awards category of Best Small Business Innovation. We think of ourselves as providing innovative solutions.

Innovation 100

Innovation Fintech Regulation Lending 100

Abrigo

DECEMBER 17, 2021

Components of an effective fintech partnership If leveraging new technology is a priority for your FI, ensure these three elements are present for an effective fintech partnership. . Takeaway 1 Having a cohesive vision from the top down is critical to a culture of innovation and the successful adoption of new software. .

Fintech 195

Fintech How To Innovation System 195

PYMNTS

JULY 24, 2019

New York’s Department of Financial Services (DFS) has launched a new Research and Innovation Division that will be responsible for licensing and supervising virtual currencies. None of the information on the database, which held 86 million lines of daily updating records of the lending platform, was encrypted.

Regulation 108

Regulation Bitcoin New York Online 108

PYMNTS

NOVEMBER 5, 2019

Many lenders are relying on advanced learning technologies like artificial intelligence (AI) and machine learning (ML) to offer instant loan payments without compromising the review process. However, implementing new technologies can be tricky for banks and lenders equipped with legacy payment infrastructures.

Lending 102

Lending Payments Security Fintech 102

Bank Innovation

JANUARY 17, 2019

regulators have taken a greater interest over the last year in technology startups promising to reinvent finance. Several financial-technology companies are looking to staff up in regulatory compliance, according to job posting data reviewed […].

Regulation 150

Regulation Fintech Compliance Financial Technology 150

Bussman Advisory

JULY 29, 2022

The post US regulator raises concerns over Apple’s foray into short-term lending | Barclays takes stake in crypto firm Copper | Jack Ma to give up control of Ant appeared first on Bussmann Advisory AG. We offer advisory services for the executive team and in-person or virtual courses with tailored topics.

Lending 52

Lending Regulation US social media 52

PYMNTS

SEPTEMBER 30, 2020

It would instead offer payment companies a national servicing platform to replace the regime of state regulations such firms would be subject to under existing laws. Commercial companies accessing a payments charter would avoid oversight and regulations that protect the financial system and consumers,” the bank industry leaders wrote.

Regulation 349

Regulation National System Industry 349

PYMNTS

JUNE 27, 2017

As mobile devices continue to be a pervasive force in the technology arena, so does the need for forward thinkers in the field. He also offers advice for how to innovate in the field. Here is an excerpt of the conversation: PYMNTS: How would you define your company’s approach to innovation? How could we make this better?”.

Innovation 145

Innovation System Mobile Trends 145

PYMNTS

MARCH 21, 2019

Not an entirely surprising fact, given that it is the collision of two highly specialized and extremely regulated worlds. Large providers, drug manufacturers and insurance firms have big innovations that are moving them away from checks. The Foundation For Innovation.

Innovation 152

Innovation Payments Regulation System 152

FICO

MAY 25, 2023

Home Blog Feed test AI Development Can’t Be Paused—But It Can Be Regulated Since Generative AI is here to stay, ChatGPT’s base grew by 9,900% in 60 days, with 1.8 Home Blog Feed test AI Development Can’t Be Paused—But It Can Be Regulated Since Generative AI is here to stay, ChatGPT’s base grew by 9,900% in 60 days, with 1.8

Regulation 52

Regulation San Diego Analytics blockchain 52

PYMNTS

DECEMBER 9, 2019

Also, as big tech moves into the financial services industry, regulators call for more “vigilant monitoring” of its data use. Regulators Call for ‘Vigilant Monitoring’ of Big Tech’s Financial Data Use. PayPal’s Schulman: Why Payments’ Biggest Innovations Are Yet to Come. Goldman Plans to Launch Robo Advisor Next Year.

Regulation 131

Regulation Data Apple Payments 131

PYMNTS

OCTOBER 26, 2017

It was the (initially) small FinTech startups that delivered a collective shakeup to the small business (SMB) lending industry. Technology giants like Google and Amazon , which gained their market muscle from non-finance-related ventures, are slowly stepping into the space. New reports in Bloomberg on Wednesday (Oct.

Lending 109

Lending Google Fintech Industry 109

PYMNTS

JANUARY 29, 2018

The financial services market has progressed by leaps and bounds in terms of innovation, from the rise of alternative finance to the development of technologies like blockchain and open banking initiatives. despite a flurry of concerns over regulations, economic development and more.

Lending 116

Lending Florida Report Community Bank 116

PYMNTS

FEBRUARY 5, 2018

Last month, Canada’s Competition Bureau released its final study on tech-led innovation in FinTech, offering regulators some thoughts on competition in the payments sphere, along with suggestions on where the competitive landscape could be improved. PYMNTS asked which countries might be a model and a template for innovation for Canada.

Regulation 103

Regulation Bitcoin Innovation Study 103

Celent Banking

FEBRUARY 28, 2017

Lending Product — for the most impressive consumer or business lending or collections initiative. Product Innovation — for demonstrating the ability to launch multiple innovative products. Join us for the 10 th annual Innovation and Insight Day on April 4 th in Boston.

Innovation 100

Innovation Lending Boston Trends 100

Celent Banking

FEBRUARY 28, 2017

Lending Product — for the most impressive consumer or business lending or collections initiative. Product Innovation — for demonstrating the ability to launch multiple innovative products. Join us for the 10 th annual Innovation and Insight Day on April 4 th in Boston.

Innovation 100

Innovation Lending Boston Trends 100

Chris Skinner

FEBRUARY 24, 2017

It is no longer this big bucket of finance and technology. There is RegTech for Regulatory Technologies; WealthTech for Wealth Management Technologies; InsurTech for Insurance Technologies; and so on. RegTech Regulatory Technologies, or RegTech for short, is fairly obvious as to what it is.

Fintech 342

Fintech Regulation Technology Analytics 342