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?
Abrigo
DECEMBER 20, 2021
AML Penalties Are Back and Stronger Than Ever FinCEN is enforcing actions for BSA violations and failure to maintain effective AML programs. Would you like other articles like this in your inbox? Takeaway 1 Reprieve is over, FinCEN is announcing penalties and enforcing action for BSA violations. . Takeaway 2 A strong AML program is critical in guarding against money laundering and terrorist financing risks.
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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.
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.
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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.
BankUnderground
DECEMBER 21, 2021
As another year draws to an end and the blog prepares for some downtime over the festive period, we wanted to take a look back at the blog in 2021. In response to the global Covid-19 pandemic, in 2020 we launched a Special series: Covid-19 Briefings. Contributions continued into this year and featured among our top-read posts. In addition, we published posts on a wide variety of topics including the impact of policy uncertainty on the global economy , the transmission of global funding shocks to
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
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
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
BankInovation
DECEMBER 23, 2021
Robotic process automation (RPA) company UiPath and research firm IDC this month launched a free interactive assessment tool that offers organizations a tailored response on how to automate for good. But what, exactly, does it mean to “automate for good?” UiPath and IDC looked to the United Nations for its definition, said Margareta Mucibabici, public […].
Jack Henry
DECEMBER 23, 2021
Layers of Protection Exist Everywhere. We don't realize how often we apply layers of protection in our daily lives. Some protections come naturally, like our skin and hair to protect our bodies from the environment. Some protections are taught to us. When we play sports, we wear layers of protection to reduce the risk of injury: helmets, gloves, chest pads, knee pads, mouth guards.
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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
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.
CFPB Monitor
DECEMBER 23, 2021
The final version of the National Defense Authorization Act for Fiscal Year 2022 (NDAA) ( S. 1605 ) currently awaiting President Biden’s signature does not contain several proposed provisions that members of the consumer financial services industry had opposed. Specifically, the NDAA does not contain provisions that would have: Expanded coverage of the Military Lending Act’s 36% “all-in” rate cap to all consumers.
BankInovation
DECEMBER 22, 2021
Banks and fintechs implementing open application programming interface (API) builds should look first to security measures as early security and authentication checks prevent up to 80% of risk vectors in API frameworks, Jason Harmon, chief technology officer at API design and development company Stoplight, tells Bank Automation News in this episode of “The Buzz” podcast. […].
Banking Exchange
DECEMBER 22, 2021
Bloomberg reported that credit unions are seeking the ability to hold crypto-assets directly Technology Lines of Business Financial Trends Feature3 Feature Blockchain Bitcoin Cryptocurrency.
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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.
TheGuardian
DECEMBER 18, 2021
Enforced takeovers during the crisis will mean a bumper year for the bankers who advise on billion-dollar deals Just as most of us are feeling the effects of soaring inflation, which the Office for National Statistics said last week had reached a 10-year high of 5.1% , wealthy bankers and traders are looking forward to receiving extraordinarily large new year bonuses.
CFPB Monitor
DECEMBER 22, 2021
On Monday, the CFPB and DOJ announced that they sent joint letters to landlords/property management companies and mortgage servicers regarding the protections given to servicemembers by the Coronavirus Aid, Relief and Economic Security (CARES) Act and the Servicemembers Civil Relief Act (SCRA). Letter to landlords/property management companies. The letter only addresses SCRA protections for early lease terminations and evictions.
BankInovation
DECEMBER 23, 2021
This month saw Citizens promote its long-time interim chief executive officer to the position permanently, while Bank of America Chicago named a new president. Bank Automation News takes a look at December’s movers and shakers. Gerald Shields named CEO of Citizens Citizens named Gerald Shields as its new chief executive officer, effective Jan. 1. He […].
Banking Exchange
DECEMBER 21, 2021
The bank has dedicated $20 million to initiative which seeks to address systemic inequities in education and career outcomes Community Banking Diversity Inclusion Human Rights Small Business Feature Management Duties Feature3 Fair Lending.
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Have you ever felt the pain and loss of a client suddenly going silent, leaving you questioning everything? Ghosting can cause heartbreak; in business, it drains resources, and emotionally, it shatters your confidence. A modern credit card program can give you the tools to deliver the digital-first experiences your customer’s demand. Our eBook, “5 Signs Your Credit Card Offering Needs an Upgrade,” will help you identify key indicators that your current card platform may be holding you back and w
The Paypers
DECEMBER 22, 2021
Bulgaria-based fintech SEPA Cyber Technologies has announced it joined the Visa Ready programme to provide both fintechs and issuers full enablement stacks for digital issuance.
CFPB Monitor
DECEMBER 21, 2021
In their June 2021 request for information regarding financial institutions’ use of artificial intelligence (AI), including machine learning, the CFPB and federal banking regulators flagged fair lending concerns as one of the risks arising from the growing use of AI by financial institutions. Last week, in an apparent effort to increase its scrutiny of machine learning models and those that use alternative data, the CFPB published a blog post titled “ CFPB Calls Tech Workers to Action ,” in whic
BankInovation
DECEMBER 22, 2021
IT solutions provider CDW Corp. on Dec. 15 announced a partnership with Clearfind that will give its clients access to Clearfind's automated enterprise software evaluation and consolidation platform. The platform initially is being offered to CDW's banking, pharmaceutical and manufacturing clients, but ultimately will be targeted to "all industries with complex software management needs," according […].
Banking Exchange
DECEMBER 20, 2021
There is a growing focus on the importance of business agility The Economy Technology Financial Trends Lines of Business Feature Feature3 Tech Management Outsourcing/Cloud Mobile Online Digital.
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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.
The Emmerich Group
DECEMBER 23, 2021
How do you increase your bank’s profits, and replace PPP revenue, when your desperate competitors are doing crazy things, and it has never looked harder to create profit within your bank? Well … Here’s the reality There are circumstances outside of your control that you can’t do anything about. But there are things within your. Continue Reading.
CFPB Monitor
DECEMBER 21, 2021
Last week, the California Department of Financial Protection and Innovation (DFPI) announced that it had entered into a consent order with Wheels Financial Group, LLC d/b/a LoanMart, a California-based company that markets and services automobile title loans. LoanMart was the subject of an investigation launched in September 2020 in which the DFPI (then still named the Department of Business Oversight) was investigating whether LoanMart, through its partnership with a Utah bank, was evading the
BankInovation
DECEMBER 22, 2021
Aaron Wollner, chief marketing officer at Quontic Bank, will join Bank Automation Summit 2022 for a panel discussion on Iterating and Experimenting at Maximum Efficiency on Wednesday, March 2, at 3:30 p.m. ET at the JW Marriott in Charlotte, N.C. View the BAS agenda here. The panel will focus on building and maintaining an innovation […].
Banking Exchange
DECEMBER 20, 2021
Guilty of longstanding failures to maintain and preserve communications documents, according to the regulator Compliance Duties Feature Feature3 Compliance Management Compliance/Regulatory Management.
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Community banks seek ways to leverage their technology infrastructure to drive productivity and growth. However, the sheer volume of technology devices, capital constraints, and lack of skilled resources stand in the way. This Strategy Brief explores how a managed device services partner can help bridge this resource gap. Managed device services partners empower community banks to take charge of mission-critical device management activities with: Logistics and installation services to support se
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