Jack Henry
OCTOBER 4, 2023
Defense-in-depth is important in protecting against cyberthreats, as it provides multiple layers of security that can help prevent an attack. If one layer is breached, others are still in place to protect the system. This approach reduces the risk of a single point of failure and provides redundancy.
South State Correspondent
OCTOBER 4, 2023
In an article last week ( Here ), we discussed how the higher-for-longer interest rate environment will affect the community bank sector. Stable short-term rates for the next year or longer will increase cost of funds (COF), hold yields on loans steady, decrease net interest margin (NIM), and pressure return on equity (ROE) for new credit assets. We argued that community banks must learn to improve performance in a low-growth environment for the foreseeable future.
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BankUnderground
OCTOBER 4, 2023
Julia Giese, Michael McLeay, David Aikman and Sujit Kapadia Central banks have been using a range of monetary policy and macroprudential tools to maintain monetary and financial stability. But when should monetary versus macroprudential tools be used and how should they be combined? Our recent paper develops a macroeconomic model to answer these questions.
South State Correspondent
OCTOBER 4, 2023
If you want to grab a material amount of new deposit balance, offer a 5.05% money market rate, post it all over Instagram, and sit back and watch the money roll in. This approach has many problems, the first of which is a negative return on your investment (ROI). You will also end up cannibalizing existing balances, training customers to be rate-sensitive, and training employees, and you will be forced to spend more to keep those customers from walking out the door.
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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.
CFPB Monitor
OCTOBER 4, 2023
A New York federal district court has denied a motion to dismiss the lawsuit filed in January 2022 by the CFPB against three companies that purchase portfolios of defaulted debts (Corporate Defendants) and three individuals who are owners and/or officers of the Corporate Defendants (Individual Defendants). The lawsuit alleges that the Corporate Defendants contracted with debt collectors to collect consumer debts on their behalf either directly or through other debt collectors or sold consumer d
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
CFPB Monitor
OCTOBER 4, 2023
Yesterday morning, the U.S. Supreme Court held oral argument in Community Financial Services Association of America Ltd. v. Consumer Financial Protection Bureau , a case we have been following closely on Consumer Finance Monitor because of its profound potential implications for the future of the CFPB. In the case, the Court will rule on whether the CFPB’s funding mechanism violates the U.S.
TheGuardian
OCTOBER 4, 2023
High street lender recently failed to convince regulators it could be trusted to hold less cash against its mortgage risks Metro Bank is considering raising hundreds of millions of pounds from investors, weeks after the high street lender failed to convince regulators it could be trusted to hold less cash against its mortgage risks. The high street lender, which became the first new chain in the UK for more than a century when it was launched by the American billionaire Vernon Hill in 2010, had
American Banker
OCTOBER 4, 2023
The world's biggest credit union will become the provider of banking services for U.S. armed forces members abroad, stepping into a void left by Bank of America. One credit union trade group is concerned that a potential deposit insurance snafu could threaten the program's viability.
Jack Henry
OCTOBER 4, 2023
Like that parched and ancient mariner surrounded by an undrinkable sea, it’s a special kind of torture to be awash in glorious data and not able to use it. And it stings even more knowing data analytics is critical to being able to serve your accountholders at their moment of need.
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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.
American Banker
OCTOBER 4, 2023
The Biden administration's misguided attempt to protect the banking system from itself will reduce credit available to the Americans who need it most.
BankInovation
OCTOBER 4, 2023
Say your financial institution has adopted new technology for customer service. How are you going to measure the success of this new investment? There are a few statistics or data points that likely come to mind first: increased sales, improved conversion rates, decreased operating costs, and so on.
American Banker
OCTOBER 4, 2023
Singapore's regulators grant payment licenses to Ripple and Coinbase, Stripe expands pay-by-bank in Africa, U.K. regulators pressure Revolut and more.
BankInovation
OCTOBER 4, 2023
Wells Fargo is adding to its technology team again. The $1.9 trillion bank secured former chief information and experience officer of Truist, Ken Meyer. The C-level executive announced his departure from his CIO position at the Charlotte, N.C.-based bank on Monday. “I’m happy to share that I’m starting a new position on Oct.
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.
American Banker
OCTOBER 4, 2023
Leaders from Huntington, Regions and Bank of Montreal spoke at American Banker's Most Powerful Women in Banking NEXT conference, sharing career advice rooted in their personal experiences.
BankInovation
OCTOBER 4, 2023
Lloyds Bank has selected payments behemoth Visa to provide a virtual card offering to its business customers. Visa Commercial Pay will give Lloyds Bank’s business customers access to virtual cards through which they can control spending, reconcile invoices and file expenses, a Sept. 27 Visa release stated.
American Banker
OCTOBER 4, 2023
During a speech at a community banking research conference, the Federal Reserve Board governor emphasized the importance of an "evidence-based approach" to regulatory policy.
The Paypers
OCTOBER 4, 2023
Payment processor, Shift4 , has acquired SpotOn’s sports and entertainment business unit for USD 100 million in cash.
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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
American Banker
OCTOBER 4, 2023
The Securities and Exchange Commission is pushing ahead with its litigation against Coinbase, raising the stakes further in the case against the biggest U.S. crypto exchange.
The Paypers
OCTOBER 4, 2023
The Bank for International Settlements (BIS) has partnered with several European central banks to create a crypto tracking platform.
American Banker
OCTOBER 4, 2023
The fintech, a partner of OpenAI, is also a provider to several developers of emerging artificial intelligence.
The Paypers
OCTOBER 4, 2023
South Africa-based payments and data API fintech Stitch has raised USD 25 million in Series A extension funding round, in order to accelerate its development process.
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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
American Banker
OCTOBER 4, 2023
Federal Deposit Insurance Corp. Board Member Jonathan McKernan raised concerns Wednesday over his agency's justification for imposing higher capital on banks, saying they could give nonbanks a more competitive edge in certain activities.
The Paypers
OCTOBER 4, 2023
Global provider of payments and financial services technology Fiserv has joined the Swift Partner Programme as a Platform Partner.
Commercial Lending USA
OCTOBER 4, 2023
Commercial hard money loans. Offer a unique financial tool that empowers real estate investors and business owners.
American Banker
OCTOBER 4, 2023
At the Most Powerful Women in Banking conference, asset management leader Jenny Johnson discussed opportunities and risks for portfolio managers in 2023.
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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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