Mon.Aug 26, 2024

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Do risks lurk in your CECL model? Risk assessments identify and address potential issues

Abrigo

CECL model risk assessments Possible areas of material misstatement in a CECL model can be identified with a risk assessments. You might also like this webinar: "Conducting an effective Q factor framework." WATCH Takeaway 1 The forward-looking CECL approach to estimating the allowance for credit losses introduces risks that auditors and examiners are scrutinizing.

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Consumers tap credit cards, loans to manage inflation: Fed report

Payments Dive

Gen Z and millennials were the age groups most likely to use loans and credit cards to respond to higher prices, a Federal Reserve research report said.

Report 448
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Loan Risk and Return – The Two Loan Riddle

South State Correspondent

It is rare that banking lends itself to a logic test, but we have been trying this loan risk and return riddle on hundreds of bankers across the country for years, and only a few bankers choose the correct answer. The riddle goes like this: You are presented with two loans. Loan A is priced at SOFR plus 1.50%, and Loan B is priced at SOFR plus 3.50%.

Analysis 195
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Aeropay targets pay-by-bank evolution in US

Payments Dive

The Chicago fintech has moved from servicing small merchants to handling cannabis payments, and now it’s catering to gaming clients.

Chicago 243
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Back to Basics with Reconciliations

Join us in this webinar, where we share best practices on how to think about the reconciliation work each month, when best to do reconciliations, how they should be prepared, and some common pitfalls to avoid. Learning Objectives: This course objective is to understand how to properly prepare and review balance sheet reconciliations and its impact on the financial statements.

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Barclays enlarges half-year bonus pool for first time since 2021

TheGuardian

Rise to £675m after lifting EU bonus cap suggests lender may increase payouts to high-performing bankers Barclays has bulked up its half-year bonus pool for the first time in three years, raising bankers’ hopes of bigger annual payouts after the lender formally scrapped the EU bonus cap this month. The bank put £675m towards its bonus pool in the first six months of 2024, according to Barclays filings.

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Tokenized account numbers are a serious threat to open banking

American Banker

The proposed Inclusion of TANs within the CFPB's Section 1033 rule is a mistake that threatens to undermine the security of financial transactions and undercut consumer choice and competition.

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Vilja adds deposit services for Austria and Ireland to its Vilja Platform

The Paypers

Nordic cloud-native core banking platform vendor Vilja has announced its decision to add deposit solutions for Austria and Ireland to its Vilja Platform.

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Credit unions venture cautiously into AI to make operations smoother

American Banker

A minority of American Banker's Best Credit Unions to Work For report using AI. But such projects could help excite employees about their roles and eliminate routine work.

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Fintech Funding: North American firms take most of H1 investment

BankInovation

Fintech funding hit a four-year low globally in the first half of 2024, but nearly three-quarters of the money raised went to North America, followed by Europe. North America firms raised 69% of the $51.

Fintech 59
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How a Managed Services Partner Can Reduce the Friction in Your RDC Program

Treasury teams at community banks face an ongoing challenge of delivering frictionless customer experiences as they support treasury products – especially RDC. This infographic focuses on the efficiencies community banks gain when partnering with a proven managed services provider. You’ll see the advantages you can gain when a managed services partner leverages online tools, skilled customer and technical support personnel, and fulfillment and logistics capabilities to streamline RDC fulfillment

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Can JPMorgan Chase tap food delivery to boost card payments?

American Banker

The largest issuer in the U.S. has added consumer perks to its collaboration with DoorDash in an effort to expand relationships in its payments business.

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Weyay Bank launches multicurrency card for digital users

The Paypers

Weyay Bank has launched a new Multicurrency Prepaid Card designed for its digital banking app users.

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For community banks, rate cuts present positives and perils

American Banker

Lower interest rates could bolster loan demand, credit quality and securities portfolios. But they could also curb lending profitability faster than they ease deposit costs, crimping net interest margins and eating into near-term profits.

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Deutsche Bank reconciles with plaintiffs in Postbank acquisition litigation

The Paypers

Germany-based financial institution Deutsche Bank has announced that it reached reconciliation with a part of the plaintiffs who made accusations in Postbank ’s acquisition.

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Budget Playbook for Commercial Lenders — Bank and Credit Union Edition

Amid market uncertainty, banks and credit unions are faced with critical decisions about the future of their commercial lending. With fluctuating interest rates and rising competition from non-bank lenders, it's critical to allocate your 2025 budget strategically to optimize lending operations. Our Budget Playbook for Commercial Lenders delivers key strategies to help you navigate these challenges, ensuring your institution is well-positioned for the coming year.

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Judge sides with CFPB on challenge to small-business lending rule

American Banker

A federal judge excoriated banks for inflating data in a challenge to the Consumer Financial Protection Bureau's data collection on small-business loans.

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Banking Circle launches bank-backed MiCA-compliant stablecoin, EURI

The Paypers

Tech-driven payments bank Banking Circle has announced the launch of EURI, a stablecoin compliant with the Markets in Crypto Assets Regulation (MiCA).

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How To Use Social Media as a Branding Tool

Image Works Direct

When it comes to using social media for a business, a common mistake is thinking of it as a sales aid. However, social media is much more valuable as a branding tool! Your page shouldn’t be a constant stream of promotions. Instead, it should be used as a reminder of who you are, what you stand for and where you fit into the market.

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IKEA to launch second-hand marketplace 'IKEA Preowned'

The Paypers

Sweden-based retailer IKEA has announced the launch of a peer-to-peer marketplace, IKEA Preowned, in Madrid and Oslo for second-hand furniture sales.

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It Takes Two to Tango

With automation, you’ll reduce errors and save valuable time, allowing you to focus on what really matters: strategic analysis and insightful decision-making. Picture accurate financial reports ready at your fingertips, giving you the confidence to tackle business challenges head-on. Embracing automation not only boosts productivity but also elevates your role from number cruncher to closing rockstar.

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FHFA may lower some Fannie Mae, Freddie Mac housing goals

American Banker

The latest proposal for the two government-sponsored enterprises' affordable housing targets scales down some benchmarks for a tough market, but also raises one.

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Shift secures USD 23.6 million in Series D funding round

The Paypers

Australia-based credit and payment products provider Shift has announced that it closed a USD 23.6 million Series D funding round led by Peak XV Partners.

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FDIC fights latest challenge to the use of in-house judges

American Banker

The Federal Deposit Insurance Corp. is trying to limit the impact of a Supreme Court decision that curtailed federal agencies' use of administrative law judges.

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Commvault expands its cybersecurity ecosystem with integration partners

The Paypers

Commvault , a provider of cyber resilience and data protection, has revealed an expansion of its cybersecurity and data security through new partnerships.

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The 2024 Lenders Guide to Automating the Complex Loan

Download the latest edition of GoDocs' "The Lender's Guide to Automating the Complex Loan." This comprehensive guide offers financial institutions valuable insights into document automation for complex commercial loans. It unpacks the intricacies of complex loans and showcases how an automation platform like GoDocs — the leading commercial loan closing platform — delivers impressive benefits and ROI to any FI.

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MoneyGram names new chief digital officer to 'fast-track' tech

American Banker

The cross-border payments company appointed its first chief digital officer in April 2023 in its push to design products more intentionally for consumers.

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Switzerland to join two EU security cooperation projects

The Paypers

Switzerland has announced its decision to take part in the projects belonging to the EU's Permanent Structured Cooperation `Military Mobility` and `Cyber Ranges Federation`.

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Apple’s Open NFC May Benefit Some Payment Providers, But ID Applications Are the Real End Game

The Financial Brand

This article Apple’s Open NFC May Benefit Some Payment Providers, But ID Applications Are the Real End Game appeared first on The Financial Brand. PayPal stands to gain in the short term. But a gold rush in identification services is the long-term play. This article Apple’s Open NFC May Benefit Some Payment Providers, But ID Applications Are the Real End Game appeared first on The Financial Brand.

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Zeller launches Zeller Terminal 2

The Paypers

Australia-based neobank for SMEs Zeller has announced the launch of Zeller Terminal 2, an all-in-one payments and point-of-sale (POS) solution for businesses of all sizes.

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Confronting the Change Challenge

Change is difficult, whether in our private or work life. However, without change, growth and learning are difficult not to mention keeping up with the market and staying competitive. We have all worked for or ourselves are the bosses that prefer to keep the status quo. We will discuss how to address the "change challenge" to enable you to be a changemaker and a graceful recipient of change.