Bankers betting interest rates will peak in first half of 2023
American Banker
OCTOBER 18, 2022
BankInovation
OCTOBER 17, 2022
Bank of America increased its technology investments during the third quarter amid increased virtual assistant and digital platform usership. The $3.1 trillion bank in Q3 enhanced its CashPro platform, launched biometric sign-in capabilities and posted a record number of digital logins, which is prompting the hiring of tech-focused talent to help facilitate the rise in […].
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ATM Marketplace
OCTOBER 18, 2022
In an age where customers are more willing than ever to switch banking providers, banks need to step up their game when it comes to mobile apps.
South State Correspondent
OCTOBER 20, 2022
We covered various frameworks to “wow” your customer HERE. We covered why “Time-on-Task” (or the companion Customer Effort Score) is the ultimate metric in banking HERE. In this article, the last in the series, we give you seven rules to improve your bank. While these rules were derived from improving time-on-task, they can enhance bank performance no matter what metrics a bank uses for customer, employee, or total experience (the combination of employee and customer experience). 1.
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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
OCTOBER 21, 2022
The bank said it invested in the regulated gaming company Sightline Payments this week, following an agreement earlier this year to be the firm’s primary merchant acquirer.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Accenture
OCTOBER 16, 2022
The metaverse might seem like a fantasy for the future, and not something that will impact finance, but some auto and equipment finance organizations are already pursuing the new opportunities it presents. For those lenders and lessors that have not yet staked their claim, further delay could put them on the back foot. In our…. The post Bold steps through the virtual showroom to real finance appeared first on Accenture Banking Blog.
South State Correspondent
OCTOBER 17, 2022
In a previous article ( HERE ), we discussed the concept of Funds Transfer Pricing (FTP), why systemically important banks and large regional banks incorporate FTP, and why community banks should also consider implementing FTP. We defined an FTP framework, the regulatory recommendation for FTP, and how FTP allows community banks to make better decisions about balance sheet profit contribution (loans versus deposits).
Payments Dive
OCTOBER 18, 2022
“In addition to cross-border payments, the benefits of FedNow must be widely available to Americans through competitive, diverse providers — including nonbanks,” writes a U.S.-based Wise executive.
Abrigo
OCTOBER 18, 2022
Streamlining the construction loan process Construction d raw s oftware helps lenders and contractors to automate the construction loan management. . You might also like this webinar, "How to manage a high-performing construction loan portfolio." WATCH. Takeaway 1 Construction draw management software can increase lender efficiency and reduce risk by saving time.
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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
OCTOBER 20, 2022
With the dark cloud over the CFPB that was the constitutional challenge to the for-cause limit on removal of its Director having mostly lifted, a new and even darker cloud has descended in the form of another constitutional challenge. Yesterday, a unanimous three-judge panel of the U.S. Court of Appeals for the Fifth Circuit ruled that the Consumer Financial Protection Bureau’s funding mechanism violates the U.S.
BankUnderground
OCTOBER 18, 2022
David Swallow and Chris Faint. Policymakers have been investing heavily, to an accelerated timeline, to better understand the financial risks from climate change and to ensure that the financial system is resilient to those risks. Against that background, some commentators have observed that the most carbon-intensive sectors may be subject to the greatest increase in transition risk.
Payments Dive
OCTOBER 19, 2022
From self-checkout machines to checkout-free stores, the options for processing payments are expanding at retail venues. Here’s how retailers find the best fit.
Abrigo
OCTOBER 18, 2022
Top benefits of construction loan software for bankers and clients Why many banks and credit unions are turning to fintech for construction loan automation. You might also like this webinar, "How to manage a high-performing construction loan portfolio." WATCH. Takeaway 1 Construction loans are considered risky because they involve long-term exposure to collateral, often with no other tangible assets.
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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
TheGuardian
OCTOBER 19, 2022
No commitment yet to cut banking surcharge after corporation tax U-turn, leaving sector face headline tax rate of 33% UK banks are steeling themselves for a windfall tax by stealth as the new chancellor, Jeremy Hunt, tries to plug a £40bn hole in the public finances. City lobbyists are concerned that banks will not be compensated for Hunt’s U-turn on corporation tax, which will now mean the levy rises from 19% to 25% next year.
ABA Community Banking
OCTOBER 18, 2022
The relief effort is part of the $3.1 billion allocated by the Inflation Reduction Act for distressed borrowers of USDA loans. The post USDA provides nearly $800 million in loan relief, more aid to come appeared first on ABA Banking Journal.
Payments Dive
OCTOBER 20, 2022
Macroeconomic headwinds, consumer health and cost management are set to be topics of conversation during payments companies' quarterly earnings calls.
BankInovation
OCTOBER 21, 2022
Westlake Financial has launched a credit card rewards program using back-end technologies from embedded finance company Railsr. The Westlake Black Credit Card gives the financial institution’s customers 2% cash back on all qualified automotive-related purchases including vehicle maintenance and servicing, gas, oil changes and brakes, Jim Eyraud, vice president of Wilshire Consumer Credit, a wholly […].
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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.
TheGuardian
OCTOBER 17, 2022
New chancellor made no mention of policy in economic update, but Treasury sources confirm he will go ahead with controversial move Hunt rips up most of Kwarteng’s mini-budget UK politics: all today’s developments – live The new chancellor, Jeremy Hunt, is pressing on with plans to scrap the bankers’ bonus cap, protecting one of the most divisive policies from his predecessor’s disastrous mini-budget.
SWBC's LenderHub
OCTOBER 20, 2022
Welcome to the second conversation in our Elevating Voices Series! In case you missed the first one, A Discussion About Equity and Inclusion in Lending , we are engaging in various conversations with real estate and real estate lending professionals regarding diversity, equity, and inclusion within our industries. We will also speak about dynamics impacting homeownership rates amongst Black and Latino communities and draw attention to the people and organizations that are working to make a diffe
Payments Dive
OCTOBER 18, 2022
With the company set to report third-quarter results next week, ongoing employee cuts have put severance expense under the microscope.
CFPB Monitor
OCTOBER 20, 2022
After reviewing how the AMLA expands the BSA’s goals, we look at which AMLA provisions have the most impact on BSA compliance, including the AMLA’s emphasis on information sharing, the Financial Crimes Enforcement Network’s “national priorities” and the value of threat pattern and trend information to bank compliance efforts, and the AMLA’s expansion of the U.S. government’s authority to subpoena information from foreign financial institutions that maintain correspondent banking relationships wi
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
OCTOBER 18, 2022
Lender told it must in future acknowledge its role in climate crisis after ‘misleading’ Cop26 campaign HSBC has suffered a fresh blow to its green credentials after the UK advertising watchdog banned a series of misleading adverts and said any future campaigns must disclose the bank’s contribution to the climate crisis. The ruling by the Advertising Standards Authority (ASA) followed dozens of complaints over posters that appeared on high streets and bus stops in the lead-up to the Cop26 climate
Jack Henry
OCTOBER 19, 2022
So, you have a firewall monitoring service, email protection that scans every inbound email for malicious content, and decent endpoint protection software by a well-recognized name.
Payments Dive
OCTOBER 17, 2022
Nonbank fintechs are pushing for access to the new federal faster payments system as its launch date next year approaches.
CFPB Monitor
OCTOBER 19, 2022
The CFPB, Fed, and OCC have announced that they are increasing three exemption thresholds that are subject to annual inflation adjustments. Effective January 1, 2023 through December 31, 2023, these exemption thresholds are increased as follows: Smaller loans exempt from the appraisal requirement for “higher-priced mortgage loans” are increased from $28,500 to $31,000.
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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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