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Visa stands by crypto

Payments Dive

At the card giant’s annual meeting Tuesday, CEO Al Kelly showed no signs of backing off crypto. He also suggested Visa’s management team may change after he exits as CEO

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The Difference Between a Community Bank and a Big Bank

Jeff For Banks

I recently spoke to a community group, and subsequently a community bank all-staff meeting regarding the definition of a community bank. The FDIC has defined community banks in their December 2020 Community Banking Report that either exclude or include the following criteria: Seems complicated.

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15 Ways We Are Using ChatGPT in Banking

South State Correspondent

No doubt you have heard other bankers talking about ChatGPT. This AI-powered digital assistant, technically called “generative AI,” has taken banking, and society, by storm. In three months, it has become the primary tool of many bankers, helping make banks more efficient across the organization.

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How banks should deal with AI's risks, according to NIST

Flipboard

Artificial intelligence Risk management Technology

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Trust the Software! Doc Gen Automation

A detailed look at why automation is the future of loan documentation and how this technology adds value to the attorney relationships, creating a next-generation workflow.

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Bitstop shakes up bitcoin ATM space with Genesis Coin acquisition

ATM Marketplace

The ATM industry is no stranger to high profile acquisitions and the bitcoin side of the industry has joined the trend. Bitstop, a bitcoin ATM provider, has acquired Genesis Coin, which powers more than 12,000 bitcoin ATMs in the U.S., and accounts for 31.9% of all such machines worldwide

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5 Banking Trends We’re Forecasting for 2023

Perficient Digital Transformation

2023 has commenced, and rates are climbing, inflation is bubbling, and banking customers are continuing to demand hyper-personalized products and experiences from their institutions. Here are five banking trends we’re forecasting for the new year.

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Banks, Regulators Push for Mortgage Rule Changes

Banking Exchange

In separate initiatives, the ABA and CFPB are seeking to add to consumer protection measures related to mortgage lending Mortgage Credit Feature Mortgage Mortgage Compliance Mortgage/CRE Feature3 Compliance/Regulatory Duties 1Mortgage/CRE

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Location, location, location? How UK housing preferences shifted during the pandemic

BankUnderground

Martina Fazio and Gary Harper During recessions, and indeed pandemics, housing prices usually fall. Yet between March 2020 and December 2021 (‘the pandemic’), housing prices grew in the UK, reaching at the time their highest growth rate in a decade.

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Modernizing the Property Valuation Process: Part 2

SWBC's LenderHub

As we discussed in Part 1 of Modernizing the Property Valuation Process , the housing market has experienced dramatic changes that have presented many challenges for appraisers. Although the market has shifted, the challenges remain.

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What Lenders Need To Know: Increase of Standardized Loan Rejections

As the CRE market continues to tighten, the rejection of substandard loan documentation is on the rise. Don’t put your loans at risk. Check out the Infographic.

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Big banks to launch digital wallet operated by Zelle parent: report

Payments Dive

The wallet, which is expected to launch in the second half of the year, aims to compete with PayPal and Apple, sources told The Wall Street Journal. But serious competition may take a while, an analyst said

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Embedded Finance: Bolstering Brand Experiences

Perficient Digital Transformation

In the first blog in this series, Getting Started On Embedded Finance , we defined embedded finance and took a high-level look at the goals and strategy a firm should take at the outset of its modern embedded finance journey.

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Celebrities call on UK banks to stop financing new oil, gas and coal fields

TheGuardian

Stephen Fry, Emma Thompson and Mark Rylance add their voices to Richard Curtis’s Make My Money Matter campaign A raft of famous names including Stephen Fry, Emma Thompson and Mark Rylance have joined activists and businesses in calling on the UK’s big five banks to stop financing new oil, gas and coal expansion.

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'A huge mistake': Lessons from the JPMorgan-Frank fintech deal

American Banker

Fintech Fraud Technology College planning

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The Lender's Guide to Automating Complex Loans

Providing commercial lenders with key insights into how commercial lenders can automate small-balance, mid-market, and large-cap loan documentation with advanced technology.

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Microsoft Invests $10 Billion in ChatGPT Maker OpenAI

BankInovation

Microsoft Corp. is investing $10 billion in OpenAI, whose artificial intelligence tool ChatGPT has lit up the internet since its introduction in November, amassing more than a million users within days and touching off a fresh debate over the role of AI in the workplace.

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Visa, Mastercard, Amex results buoyed by consumer spending

Payments Dive

The card companies said that consumer demand, including for travel, remained healthy in the fourth quarter of 2022, though growth moderated

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What's on the horizon for ATMs?

ATM Marketplace

Going into 2023, ATMs are at a crossroads both in terms of overall banking strategy and the shift to more personalized banking

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Bankers’ pay rises three times as fast as nurses’ since 2008 crash, TUC finds

TheGuardian

Government lifted cap on bankers’ bonuses in September, allowing them to ‘help themselves’ to unlimited payouts, TUC said Bankers’ pay has risen more than three times as fast as nurses’ pay since the 2008 financial crisis, according to an analysis by the TUC, which said low paid nurses are being forced to rely on handouts from food banks.

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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!

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Yellen says raising debt limit is only solution to avoid fiscal crisis

American Banker

Treasury Department Regulation and compliance Politics and policy

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Big banks vs. Apple Pay: The battle for your digital wallet heats up | 10 ChatGPT3 FinTech predictions for 2023 | Stripe scores major Amazon deal

Bussman Advisory

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International coalition pursues cross-border payments improvements

Payments Dive

In a new report, a group of international organizations give a broad overview of routes for improving international payments systems

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Banking trade groups highlight CFPB SBREFA obligations for credit card penalty fees rulemaking

CFPB Monitor

In a letter to Director Chopra , five banking trade groups address the CFPB’s obligation to comply with the Small Business Regulatory Enforcement Fairness Act of 1996 (SBREFA) before proposing a rule on credit card late fees and late payments.

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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.

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NatWest to close another 23 branches in England and Wales

TheGuardian

High street banks have now announced 87 closures so far this year – see full list of NatWest closures below NatWest is to shut another 23 branches in England and Wales, adding to a raft of high street banking closures already announced this month. The sites will close in the first half of this year.

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Wells Fargo holds CEO Scharf's pay at $24.5 million for 2022

American Banker

Wells Fargo Industry News Compensation

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JPMorgan is spending and talking the most on AI, index shows

BankInovation

JPMorgan Chase & Co. has a head start when it comes to developing and deploying artificial intelligence in banking, according to a new study.

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Warren calls for more regulation of crypto

Payments Dive

The Democratic senator called SEC Chair Gary Gensler “the right leader to get the job done,” but said regulators need to do more to bolster their scrutiny of the industry

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Book of Secrets for the Month-End Close

Developing a consistent month-end close doesn’t need to be a mystery. We’re sharing our top 10 secrets (plus one bonus!) for streamlining your close.