FTC lawsuit knocks Amazon on payments play
Payments Dive
SEPTEMBER 27, 2023
The FTC alleged in a lawsuit filed Tuesday against the online retail juggernaut that it maintained a monopoly partly through its checkout process.
Wed.Sep 27, 2023
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Loan Portfolio Asset Allocation Is About To Cause Problems For Banks
South State Correspondent
SEPTEMBER 27, 2023
Ask most banks how they construct their lending portfolio, and they say that “it is what the market gives them.” That is not a great answer. That level of passivity will likely cause us to lose 75+ banks during the next downturn. Loan portfolio asset allocation should be active. Credit risks are increasing, and a brief window is available to solve problems on the margin.
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Modern Treasury CEO targets bigger customers
Payments Dive
SEPTEMBER 27, 2023
The digital payment services company brought on a chief revenue officer last year to better serve larger companies, according to CEO Dimitri Dadiomov.
Can data science capture key insights in news articles?
BankUnderground
SEPTEMBER 27, 2023
Itua Etiobhio, Riyad Khan and Steve Blaxland The volume of information available to supervisors from public sources has grown enormously over the past few years, including unstructured text data from traditional news outlets, news aggregators, and social media. This presents an opportunity to leverage the power of data science techniques to gain valuable insights.
Thinking About How To Lessen Your Burden During Month-End Close? Skystem Can Help!
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Most people dread the nearing of the month-end close and reconciliation process, and who can blame them? It's typically a tedious, long, stressful process; but it doesn't have to be. Implementing automation into your month-end process can significantly reduce this headache by automating up to 40% of your reconciliation and saving nearly 30% of your time spent.
Social apps face challenges in implementing shopping tools
Payments Dive
SEPTEMBER 27, 2023
Facilitating digital payments would be a big win for social apps, but regulators are less enthused.
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Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
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TikTok moves to add ‘in-app’ wallet
Payments Dive
SEPTEMBER 27, 2023
The social media app has taken another step toward providing in-app commerce and payments, but may face regulatory resistance.
The Supreme Court should leave CFPB's funding system alone
American Banker
SEPTEMBER 27, 2023
Subjecting the Consumer Financial Protection Bureau to congressional appropriations would throw a wide range of essential regulatory activities into disarray, disrupting the industry and putting consumers at risk.
Square adds merchant tools
Payments Dive
SEPTEMBER 27, 2023
Block’s merchant business, facing stiffer competition in the point-of-sale space, has added about a dozen new features for its sellers.
Santander wanted my bedbound father to visit his branch on a trolley
TheGuardian
SEPTEMBER 27, 2023
After his account was frozen, the bank would not accept anything except an in-person visit for an identity check My father had a stroke earlier this year and is bedbound and needs 24-hour care. Last month, two online payments from his Santander account were blocked. He was told to call the helpline and asked various security questions. When he was unable to name a recent transaction, his account was locked and he was told he would have to go into the branch for his identity to be verified.
New York Lien Law Essentials: 5 Key Facts for Commercial Lenders
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Dive into the complexities of New York lien laws with our comprehensive eBook, 'New York Lien Law Essentials: 5 Key Facts for Commercial Lenders.' In this detailed guide, we explore the critical formalities necessary for lenders navigating ground-up construction and fix-and-flip projects in the New York market. From documentation requirements to the implications of non-compliance, learn how to safeguard your lending position and prioritize legal adherence.
CFPB finds big jump in mortgage payments and costs due to high rates
American Banker
SEPTEMBER 27, 2023
The Consumer Financial Protection Bureau issued a mortgage report based on statistics from 2022 and is looking for ways to simplify the refinance process while considering changes to mortgage servicing standards.
Bank Automation News’ executives to watch in 2024
BankInovation
SEPTEMBER 27, 2023
Financial institutions have kept their noses to the grindstone this year amid industry turbulence and technological disruption. To cut costs and streamline operations, banks looked to AI to enhance self-service consumer capabilities, improve backend operations and boost developer productivity. Similarly, banks looked to third-party vendors to advance their tech stacks.
Consumers are expected to keep the U.S. out of recession, Moynihan says
American Banker
SEPTEMBER 27, 2023
Bank of America CEO Brian Moynihan said that consumer activity has slowed throughout the year, but should remain strong enough to position the economy for growth later in 2024.
Transactions: Nomura Trust & Banking chooses nCino for cloud migration
BankInovation
SEPTEMBER 27, 2023
Nomura Trust & Banking Co. has chosen nCino to move its operations to the cloud. The Japanese trust bank aims to remove inefficient operations, ensure data security, and integrate and centralize its data by modernizing and moving its operations to the cloud, according to nCino’s Sept. 12 release. The $3.
Elevating Accounting Practices: The Power of Outsourcing and Automation in the Digital Age
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.
How banks are using augmented reality
American Banker
SEPTEMBER 27, 2023
Ally Financial and Workers Credit Union say they've successfully infused marketing campaigns with AR to hype their brands and communicate their corporate values even as skeptics question whether customers are clamoring for the technology.
Rhode Island bank agrees to pay $9m over discriminatory lending allegations
TheGuardian
SEPTEMBER 27, 2023
DoJ says Washington Trust engaged in redlining, the racist policy of banks blocking people of color from getting mortgages Washington Trust, the oldest community bank in the US, has agreed to pay $9m to resolve allegations that it engaged in lending discrimination against homebuyers in majority Black and Latino neighborhoods, the Department of Justice has announced.
Out West, businesses are taking out more loans despite recession fears
American Banker
SEPTEMBER 27, 2023
Credit unions and banks are lending more to merchants based in the Western U.S., reflecting trends reported in the Umpqua Bank 2023 Business Barometer and running against broader economic pessimism.
Build, buy, both? A hybrid approach to AI
BankInovation
SEPTEMBER 27, 2023
What will artificial intelligence bring to the financial services industry? This question is becoming less crucial than how financial institutions are approaching AI implementation, development and innovation.
Digital Transformation: Accelerating ROI and Growth in Commercial Lending
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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
The Most Powerful Women in Banking Top Teams: Santa Cruz County Bank
American Banker
SEPTEMBER 27, 2023
In the past year, the bank's executive leadership team began an asset-based lending division, a treasury management department and a rotational development program designed to recruit talented college graduates.
Thunes expands its Acceptance Network in five Southeast Asian countries
The Paypers
SEPTEMBER 27, 2023
Global payments platform Thunes has announced the expansion of its Acceptance payment network to Indonesia, Malaysia, Philippines, Singapore, and Thailand.
The Most Powerful Women in Banking Top Teams: BNP Paribas
American Banker
SEPTEMBER 27, 2023
BNP Paribas's Technology, Media and Telecommunications North America team has nearly doubled its revenue since launching in 2018, while keeping headcount nearly the same.
Kraken progresses European expansion, secures EU e-money license
The Paypers
SEPTEMBER 27, 2023
Crypto platform Kraken has received authorisation from the Central Bank of Ireland as an e-money institution and has registered with the Bank of Spain as a Virtual Asset Service Provider.
The State of Automation in Financial Services 2024 Report
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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
The Most Powerful Women in Banking Top Team: Emprise Bank
American Banker
SEPTEMBER 27, 2023
Emprise's innovation and strategy team worked much of the last two years hammering out an infrastructure for the new banking service.
Aro partners with Plend
The Paypers
SEPTEMBER 27, 2023
Consumer lending marketplace Aro has announced its partnership with Plend in order to provide UK clients with optimised, accessible, and affordable finance.
The Most Powerful Women in Banking Top Team: Fifth Third Bank
American Banker
SEPTEMBER 27, 2023
The wealth and asset management team, led by Kristine Garrett, saw a 34% year-over-year boost in total revenue for its business line, up to $626.6 million.
Sharesies, BlinkPay partner for Open Banking in New Zealand
The Paypers
SEPTEMBER 27, 2023
Wealth management app Sharesies has partnered with Māori fintech startup from New Zealand BlinkPay to introduce transformative changes in financial management for investors.
Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance
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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.
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