Accenture
AUGUST 15, 2022
Is it fair to describe the workplace culture at the typical bank today as a competitive disadvantage? That depends on each bank’s particular situation. But Accenture’s cross-industry research, discussed earlier in this blog series, has found that the workplace culture at many banks suffers by comparison to many other organizations. This is a significant drawback….
South State Correspondent
AUGUST 15, 2022
The reality is that banks don’t think from the customer’s perspective enough. The customer experience is horrible for many bank processes. Bankers often think from the bank’s perspective or from the regulator’s perspective. Not understanding your customer can lead to a brand and products misaligned with the customer’s needs resulting in an erosion of a bank’s competitive position.
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South State Correspondent
AUGUST 17, 2022
Global Inflation Worries have Treasuries under Pressure. While a China-led global slowdown led to higher Treasury prices on Monday, today it’s higher UK inflation that has Treasury yields heading higher. In a reminder that inflation is not only a domestic story but a global one, UK inflation accelerated to the highest level in 40 years with their CPI increasing 10.1% YoY in July.
BankInovation
AUGUST 17, 2022
FIs weighing the automation of any processes must decide whether to create the new technology in-house or acquire it. But a mix of the two options may be the best course of action, Vince Bezemer, senior vice president of strategic business development at engagement banking platform Backbase, told Bank Automation News. “To really be in […].
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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.
Payments Dive
AUGUST 19, 2022
The federal government’s new real-time payments system should be ready for use by the middle of next year, Fed Governor Michelle Bowman said in a speech this week.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Accenture
AUGUST 17, 2022
The drive for sustainability will force banks to radically change their relationships with many of their key corporate customers. They’ll need to gain a deeper understanding of their customers’ businesses and develop greater insight into the workings of their supply chains. Furthermore, they’ll have to shift from being mainly sources of finance to instead becoming….
South State Correspondent
AUGUST 19, 2022
LEI Close to Signaling Coming Recession. The somewhat bullish take on the July FOMC minutes from Wednesday was reversed yesterday when a couple Fed officials reiterated the need for continued aggressive rate hiking. That has put pressure on Treasuries this morning with the 10yr note flirting with 3.0%. St. Louis Fed President James Bullard continued in his role as lead hawk on the Fed with a call for a 75bps hike next month and expressed the desire to get to 4% by year-end.
Payments Dive
AUGUST 17, 2022
Of 10 top executives leading the company last year, only three remain, including CEO Jason Gardner, who last week said he plans to exit that role and become executive chairman.
Gonzobanker
AUGUST 17, 2022
Most fintech companies are fine, but they’ve stopped blowing off econ class for mimosa brunches. The energy and uncertainty of youth are headed back to school. Especially in fintech, which had the roughest semester last spring. First, there was the drama leading up to the breakup with the rich hottie. Then, bad grades came in right as summer party season kicked off, mom and dad took away the car and credit card, and the Venmo transfers came to a screeching halt.
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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 Monitor
AUGUST 19, 2022
It is my pleasure to introduce to our blog readers the newest member of our growing Consumer Financial Services Group: Abigail Pressler. Abigail is one of the leading lawyers in the country who focus their practice on compliance with the laws that pertain to consumer debt collection. Abigail counsels creditors, third-party debt collectors and debt buyers with respect to the vast array of federal and state laws that cover consumer debt collection.
South State Correspondent
AUGUST 16, 2022
China Weakness Has Treasury Prices Higher. A trio of reports out of China overnight suggest the second largest global economy has hit another soft patch and that has risk assets on the back foot this morning with Treasuries in the green. Retail sales, industrial production and investment all slowed in July and the jobless rate for the 16-24yr old cohort hit a record high of 19.9%.
Payments Dive
AUGUST 18, 2022
With PayPal’s former CFO on board, the retail behemoth is assessing its prospects in the payments arena near and far.
BankUnderground
AUGUST 18, 2022
Iryna Kaminska and Haroon Mumtaz. Since 2009, when policy rates reached their effective lower bound, quantitative easing (QE) has become an important instrument of central bank monetary policy. It is aimed to work via long-term yields. The literature confirms that QE helped lower long-term yields. But the yields have two components – expectations and term premia – and open questions remain: does QE reduce yields via expected rates or term premia ?
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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
CFPB Monitor
AUGUST 17, 2022
Earlier this year, the CFPB and the FTC filed an amicus brief in an appeal to the Second Circuit, arguing that the Court should reject the District Court’s “unduly narrow” interpretation of the FCRA requirement that consumer reporting agencies (CRAs) follow reasonable procedures to assure accuracy of information included in consumer reports. The CFPB and FTC argue that the FCRA does not distinguish between “legal” and “factual” inaccuracies, and thus CRAs may be held liable for failing to mainta
South State Correspondent
AUGUST 15, 2022
Competition is intense, and every bank is looking for a competitive advantage. Better products, faster service, or insightful advice can translate into additional loans, better credit spreads, or extra fee income. Sometimes just a graphics tool can help a banker win more loan business. At SouthState, our commercial lending teams use an online proposal generator, and we make that same app available to any community bank.
Payments Dive
AUGUST 15, 2022
After rolling out the bio-authentication and payment technology to a handful of stores earlier this year, the grocery chain will add it to 65 locations in California.
ATM Marketplace
AUGUST 17, 2022
Nearly any industry one can imagine offers opportunities to incorporate cards that can be swiped or otherwise read. The process of incorporating card-based applications can be made even more convenient with an on-demand card dispenser.
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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.
Bobsguide
AUGUST 14, 2022
NXTsoft’s API Connectivity as a Service makes operating a credit union easier and more cost effective by utilizing API connectivity to connect systems such as the credit union’s loan platform to its core system, thereby eliminating redundancy, manual labor and reducing human error. NXTsoft is excited to welcome our newest customer Mutual Credit Union, who is using OmniConnect API Connectivity to save time & money.
South State Correspondent
AUGUST 15, 2022
The reality is that banks don’t think from the customer’s perspective enough. The customer experience is horrible for many bank processes. Bankers often think from the bank’s perspective or from the regulator’s perspective. Not understanding your customer can lead to a brand and products misaligned with the customer’s needs resulting in an erosion of a bank’s competitive position.
Payments Dive
AUGUST 16, 2022
As a slew of fintechs try to capture small business customers, Circular Board’s Hello Alice brand is targeting entrepreneurs from marginalized backgrounds.
BankInovation
AUGUST 19, 2022
While the traditional linear model of software development – where IT teams create and deliver applications and tools to business users – has been in place for decades, citizen development, a business process that encourages non-technical users to build their own solutions, is now bucking this antiquated trend. In fact, industry analysts suggest that by […].
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.
TheGuardian
AUGUST 13, 2022
Higher mortgage costs will hit homeowners and tenants, investment and consumer spending. In a recession. I hope they’re proud of their acquisitive selves City bankers are ruining your life again. They just can’t help it. Rescued from collapse in 2008 and force fed a healthy financial diet ever since, the industry is now in fine fettle. And with a deluded display of arrogance only they can muster, bankers have come to see themselves as a force for good, especially in these troubled times.
South State Correspondent
AUGUST 15, 2022
Competition is intense, and every bank is looking for a competitive advantage. Better products, faster service, or insightful advice can translate into additional loans, better credit spreads, or extra fee income. Sometimes just a graphics tool can help a banker win more loan business. At SouthState, our commercial lending teams use an online proposal generator, and we make that same app available to any community bank.
Payments Dive
AUGUST 19, 2022
Point-of-sale, payroll, accounts payable and accounts receivable startups are leading the way in funding for payments startups, according to PitchBook.
BankInovation
AUGUST 15, 2022
Millennials and Gen Z customers are opting for a frictionless banking experience through automation in digital payments, loan approvals and money transfers. “If I’m a banker looking for ways to not only attract but retain the next generation, I need to make sure I have the right products and services,” Bryce Deeney, chief executive at […].
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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
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