Remove Community Remove FDIC Remove Financial Technology
article thumbnail

Small business loan processing: Automate back-office tasks

Abrigo

Automation fosters efficiency, accuracy, and the support that community businesses need. The speed advantage may be due to large banks greater use of automated lending technology, the FDIC said, although large banks increased reliance on hard credit-scoring information may also play a role. The results?

Lending 195
article thumbnail

Evaluating New Tech Investments – Let the Purpose Define Your Strategy

Jack Henry

Investments in financial technology have been increasing for years, but the events of the last 18 months have created a new sense of urgency for community banks and credit unions to fine-tune their digital strategies across the spectrum of various fintech investments.

Strategy 148
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Federal banking agencies issue guide for community banks on conducting due diligence on fintech companies

CFPB Monitor

The OCC, FDIC, and Federal Reserve Board have issued a guide that is intended to assist community banks in conducting due diligence when considering relationships with financial technology (fintech) companies (Guide). Banks are instructed to reference relevant guidance from the agencies that is listed in a footnote.

article thumbnail

House Financial Services Committee announces January hearings on CRA, “rent-a-bank schemes,” mobile payments

CFPB Monitor

The House Financial Services Committee has announced that it will hold the following hearings this month: On January 14, the Subcommittee on Consumer Protection and Financial Institutions will hold a hearing entitled, “The Community Reinvestment Act: Reviewing Who Wins and Who Loses with Comptroller Otting’s Proposal.” (On January 29, from 12 p.m.

Mobile 78
article thumbnail

Fighting Digital with Digital

Independent Banker

Community banks cannot afford to ignore the staggering pace of lending adoption by both individuals and businesses using digital-only platforms from various nonbank technology-based specialty lending firms. But community banks should not be without hope, nor should they underestimate the significance of customer relationships.

article thumbnail

Squared Away- How It Happened

Jeff For Banks

The challenge was that it was a book designed for community financial institutions. The subtitle came from a virtual conference where Jelena McWilliams, the FDIC Chair, said those words. But it is not as targeted towards micro issues facing community financial institutions, as was mine. Very niche.

article thumbnail

Best New Fintech Products & Trends of 2024

Fintech Labs Insights

This constantly updated article tracks the biggest and most important new products released worldwide by financial technology companies, along with banks, credit unions, investment advisors, insurance companies, credit card issuers and payment providers. Weve been obsessed with new fintech products since before the term was invented.

Fintech 12