Accenture
DECEMBER 13, 2021
As banks turn to the cloud to transform their operations and catalyze growth, many are still searching for silver linings. Our multi-sector survey, Modern Cloud Champions, found that 65% of banks are not capturing the full value they expect from the cloud. Some of the most common barriers banks run into on the way to cloud transformation are talent and ways of….
Gonzobanker
DECEMBER 8, 2021
Hot embers continue to glow in the fintech market that GonzoBanker mothership Cornerstone Advisors serves. According to CB Insights, US fintechs raised $14.6B in the most recent quarter. While that’s lower than the prior quarter, it’s up 121% for the year. Some perspective on how fast this fintech market is moving: Fintech Labs tracks 269 $1B+ valued fintech unicorns that have been founded in just the past two decades. #267 on the list is Thought Machine , a company started only six years ago th
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Independent Banker
DECEMBER 31, 2021
Photo by Robert Severi. A spirit of innovation and can-do attitude will serve you well this year, helping you remain ahead of the curve and address issues that arise. “Dream big. Start small. But most of all, start.” This sage advice from best-selling author Simon Sinek is the motivation we need to navigate the new normal of this new year. With the aftereffects of the pandemic still at hand, community banks are facing an unparalleled level of uncertainty.
CFPB Monitor
DECEMBER 28, 2021
The California Department of Financial Protection and Innovation (DFPI) has published a notice on its website concerning delays that debt collectors and buyers seeking to comply with the new licensing requirement in the state’s Debt Collection Licensing Act are currently experiencing. The new law, passed in September 2020, requires debt collectors and buyers to apply for a DFPI license by December 31, 2021.
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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.
SWBC's LenderHub
DECEMBER 20, 2021
I was 16 when the fifth Harry Potter book came out. My best friend and I had been total HP nerds since we were in fifth grade. Already conscious of being way too old for it, we decided to throw any hopes of being cool to the wind and go dressed in costume to the midnight book release.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Accenture
DECEMBER 1, 2021
After a decade of disruption, what has changed for commercial banks?? The digital economy has taken off around much of the world over the past 10 years, and the banking sector has been feeling the impact of this transformation and attempting to keep up with it. In fact, the digital transition in financial services began…. The post What’s next after 10 years of banking disruption?
BankUnderground
DECEMBER 14, 2021
Thomas Belsham. The price of Bitcoin is currently around $57,000 (see Chart 1 ). But what is the price of Bitcoin based on? It’s just a bunch of code that exists only in cyberspace. It’s not backed by the state. There’s no recourse to a central authority. There’s no underlying asset, no stream of income. There’s just the thing itself. But does that mean it has no inherent worth ?
ATM Marketplace
DECEMBER 31, 2021
As consumers become used to using self-service technology, technology providers are offering more tool such as artificial intelligence and data analytics in combination with self service. Retailers, financial institutions and other businesses are beginning to embrace these technologies with tools ranging from self-service kiosks to enhanced ATMs.
CFPB Monitor
DECEMBER 23, 2021
The CFPB, FTC, DOJ, and Federal Reserve Board have filed a joint amicus brief in the U.S. Court of Appeals for the Seventh Circuit urging the court to reverse a district court ruling that an individual who had already received credit from the defendant and who was not currently applying to the defendant for credit was not an “applicant” for purposes of the ECOA’s adverse action notice requirement.
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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.
SWBC's LenderHub
DECEMBER 21, 2021
“ When you can’t borrow another buck from the bank or buy another case of booze, you bust the joint out. You light a match.” – Henry Hill – Goodfellas. I have always wondered what the difference is between the mob “Bust Out” made famous in the movie “Goodfellas” and a Private Equity Leveraged Buy-out. In a mob bust out, your friendly organized crime gang becomes your business partner.
Jack Henry
DECEMBER 2, 2021
When it comes to signing up for a new Netflix account, customers can go from first click to watching movies in minutes. This means that when they open a new account at your bank or credit union, they aren’t thinking about the complex security measures that go into protecting their funds. Instead, they’re thinking of the quick and easy process they’ve experienced with their favorite brands.
Accenture
DECEMBER 15, 2021
The fintech revolution is here: Over $34 billion of venture-capital funding went to fintechs in the second quarter of 2021. As technology continues to disrupt the traditional way of doing things and innovation moves at an increasing pace—some say a “frenetic” pace—the leaders of the financial services industry will need to move fast to respond.…. The post Innovation with techquisition: Getting it right appeared first on Accenture Banking Blog.
BankInovation
DECEMBER 1, 2021
Cryptocurrency as an asset class won't survive unless it's properly regulated, and while it isn't, investors face harm — and some that don't want regulation wish to avoid the law. This was the message today from U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler, who spoke alongside former SEC chairman Jay Clayton at the […].
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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
ATM Marketplace
DECEMBER 3, 2021
Is it possible to build an ATM that cannot be hacked or fall victim to skimming? Researchers based in Canada and Switzerland believe they may have found the answer in zero-knowledge proof cryptology.
BankUnderground
DECEMBER 15, 2021
Before Bank Underground goes off on its Christmas holidays, it’s time for the Annual Bank Underground Christmas Quiz! We hope you enjoy testing your knowledge on our festive themed questions on economics, finance and all things central banking…. 1) The G-funk classic ‘Regulate’ was a 1994 hit for whom? Please view this post in your web browser to complete the quiz. 2) Ebenezer Scrooge’s creditworthiness at which Square Mile financial institution is mentioned in the opening lines of Charles Dicke
SWBC's LenderHub
DECEMBER 13, 2021
Last Week. Equity markets decided to look at the glass as half full, last week—keying in on initial reports that the Omicron Covid variant might be very contagious but not as lethal as Delta—and got their rally on. The tech-heavy NASDAQ managed to defy the narrative that it trades with positive interest rate duration, heading up 3.6% in the face of rising rates.
Jack Henry
DECEMBER 14, 2021
As we continue marching towards final adoption of FASB’s ASC-326 (a.k.a., Current Expected Credit Loss, or CECL for short) in January 2023, community banks and credit unions are fully engaged. When CECL was first released back in 2016, the prevailing thought was that achieving compliance basically meant choosing a model and filling it with data. Everyone thought the biggest challenge would be figuring out how to bridge the gap between the allowance for loan and lease losses (ALLL) calculated by
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As we step into 2024, the lending landscape evolves rapidly with technology, regulations, and market dynamics driving change. For banks and financial institutions to stay competitive and meet the evolving needs of their customers, these drivers must be understood and engaged with. Lenders can anticipate significant transformation fueled by technological advancements, regulatory shifts, and changing consumer behaviors.
Accenture
DECEMBER 21, 2021
Back in 2009, Apple coined the catchy phrase, “there’s an app for that.” Since then, apps (single-use apps, that is) have multiplied exponentially and become part of everyday life for most people. But a new breed of app is on the rise, and it’s threatening to consolidate power and market share. The “super-app” is becoming…. The post Rise of the “super-app”: Opportunity or threat?
TheGuardian
DECEMBER 20, 2021
Lender ‘failed to be open and cooperative’, says regulator the PRA The Bank of England has fined Standard Chartered £46.5m for repeatedly misreporting its liquidity position and for “failing to be open and cooperative” with the regulator. The Bank’s Prudential Regulation Authority (PRA) said Standard Chartered had made five errors in reporting an important liquidity metric between March 2018 and May 2019, which meant the watchdog did not have a reliable overview of the bank’s US dollar liquidity
BankInovation
DECEMBER 27, 2021
Nearly 18 months ago, Congress, the White House, and the financial services industry undertook an unprecedented joint effort to inject hundreds of billions of dollars into the economy through loans to millions of small businesses. The Paycheck Protection Program (PPP) would eventually distribute over $800 billion in just 13 months with the disbursement of 80% […].
PopularBank
DECEMBER 1, 2021
You’ve heard U.S. mail delays on the news, read about them in your daily feeds – and perhaps even experienced them yourself. Soon, the old saying “the check is in the mail” may suddenly take on a new reality. Which means now might be a good time to explore alternative payment options. USPS changes delivery timelines. “Neither snow nor rain nor heat nor gloom of night stays these couriers from the swift completion of their appointed rounds.
Advertiser: Data Robot
The buzz around generative AI shows no sign of abating in the foreseeable future. Enterprise interest in the technology is high, and the market is expected to gain momentum as organizations move from prototypes to actual project deployments. Ultimately, the market will demand an extensive ecosystem, and tools will need to streamline data and model utilization and management across multiple environments.
SWBC's LenderHub
DECEMBER 20, 2021
Last Week. Last week was mostly about the Fed’s FOMC December meeting, until it was not! The week started with November PPI coming in red-hot. The narrative was set for a more hawkish Fed in 2022 as the realization set in that inflation was not transitory and stronger medicine was needed. On Wednesday, Chairman Powell did not disappoint as he announced that the Fed would go “Turbo-Taper” and double the amount of tapering on a monthly basis with the result being zero new purchases of Treasury not
BankDeals
DECEMBER 13, 2021
Advia Credit Union has raised the rates on its 48-month and 60-month Advantage Plus Reward CDs to excellent levels. $500 min opening deposit, with no stated balance cap.
ATM Marketplace
DECEMBER 7, 2021
Will ATMs still be worth it in 2022? The short answer is: yes. Read more for the long answer.
TheGuardian
DECEMBER 24, 2021
Ex-TSB chief has ‘unrivalled business experience and will bring an outsider’s eye to the NHS’ Ministers have chosen a senior banker as the new chair of NHS England, with a brief to push through changes in the way the service operates and cut spiralling waiting lists. Richard Meddings, a former chair of TSB Bank, will take over the role early in the new year.
Advertiser: Trellis
Trellis is a state trial court research and analytics platform that provides Real Estate Professionals (Buyers, Foreclosure, Loan Modification, etc.) with LEADS on Pre-Foreclosures, Lis Pendes, Distressed Assets and more — to help uncover **new** opportunities and grow their business. The process is quick and easy — and all in real time. Trellis will supply you with a link to the relevant dockets, a Leads sheet and access to its UI where applicable.
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