Financial institutions

How Financial Institutions Can Overcome Onboarding Barriers to Deliver a Connected Experience

Some banks and insurers are investing billions of dollars to become digital disruptors, and the stakes couldn’t be higher. The 2022 Connectivity Benchmark Report shows that they could lose an average of $7.6 million each due to failed initiatives, which is significantly higher than the average for all industries. This is partly because customer expectations […]

Debt finance

Willard to lead Armstrong Teasdale’s debt financing practice

By: Staff Report February 17, 2022 Armstrong Teasdale has appointed St. Louis partner John G. Willard to lead its debt financing practice, formerly known as the financial services practice. Enter your username and password in the fields above to access subscriber content on this site. Your subscription includes a set of login credentials for your […]

Bank loans

Tax-exempt loans to governments and non-profit organizations; Bank loans and direct purchases of municipal securities

Amanda Stephens Public Finance, Banking & Finance Partner Houston Amanda Stephens focuses her practice on public finance, where she advises on bonds, advises on disclosure, advises underwriters, advises issuers and advises banks on a wide range of taxable and tax-exempt transactions, including education, non-profit corporations and health care. Amanda has advised over $2 billion in […]

Financial institutions

AI is powering the future of financial institutions

Artificial intelligence is poised to change the future of almost every industry. It augments decision-making processes, facilitates error-free back-end processes, enables fraud identification, offers an effective marketing tool, increases turnaround times, and improves customer services. Historically, banking, finance, and insurance companies have been leaders in adopting technological advancements, and AI is no exception. Financial institutions […]

Financial institutions

The Digital Transformation of Financial Institutions – Tearsheet

The wake of the pandemic has brought many challenges, such as a rapidly increasing reliance on digital solutions up front, and closed branches, unprepared call centers and overwhelmed lenders dealing with PPP loans in the back. More importantly, it presented financial institutions with a timely opportunity: a call for innovation. According to a late 2020 […]

Bank loans

Struggling NBFIs make Tk 1000cr bank loans sour

Twenty-five banks are suffering from a collective loan default of Tk 974.4 crore after several non-banking financial institutions (NBFIs) failed to repay the funds despite falling due, in another sign of weakness in the financial sector. The fragility of the NBFI sector came to the fore three or four years ago after it emerged that […]

Financial institutions

Why Financial Institutions Need Next-Era Technology to Meet…

As financial services continue to meet the needs of highly digitized consumers, operational resilience is a top priority for regulators around the world. The Covid-19 pandemic has reinforced regulators’ aim to ensure that banks are able to continue to provide products and services to their customers in the event of disruption. Assessing vital business functions, […]

Financial institutions

Financial institutions are not using technology enough to fight fraud | News

WASHINGTON, January 13, 2022 /PRNewswire/ — Despite a market saturated with advanced technology tools, many financial institutions struggle to effectively deploy and integrate anti-fraud solutions into their risk mitigation frameworks. As a result, new, evolving, or unforeseen threats continue to pose risks to financial institutions of all sizes. These are the findings of an in-depth […]

Financial institutions

OFAC Settlement with Airbnb Payments Highlights Risks for Corporations, Financial Institutions Doing Business in Cuba and Other U.S. Sanctioned Jurisdictions Finance & Banking

OFAC settlement with Airbnb Payments highlights risks for companies and financial institutions doing business in US-sanctioned jurisdictions On January 3, 2022, the United States Department of Treasury’s Office of Foreign Assets Control (OFAC) announced a settlement with Airbnb Payments, Inc. (Airbnb Payments), a registered money services business and wholly owned subsidiary of ‘Airbnb, Inc. (Airbnb). […]

Personal loans

Navi Finserv offers high value personal loans up to ₹20 lakh via app

Navi Finserv (Navi) has announced that it will now offer high value personal loans of up to ₹20 lakh through the Navi Lending app, at interest rates starting at 9.9% per annum with a term of up to 72 months. Customers can avail loans through the Navi app with flexible and EMI loan options, and […]

Personal loans

Axos Personal Loans Review | Find the best loan for you

Axos Bank was launched in 2000 and is owned by San Diego-based Axos Financial. You won’t find physical branches, but the bank has offices across the country. In addition to personal loans, Axos Bank offers CDs, as well as checking, savings, money market and retirement accounts. Best Features The loan application process is completely digital […]

Financial institutions

Notice to financial institutions: increase in the amount of the wage exemption for restriction notices and direct debits as of December 31, 2021 – Emploi et RH

United States: Notice to financial institutions: increase in the amount of the wage exemption for restriction notices and direct debits as of December 31, 2021 December 31, 2021 Cullen and Dykman To print this article, simply register or connect to Mondaq.com. Under New York’s Exempt Income Protection Act (“EIPA”), certain funds in deposit accounts are […]

Financial institutions

PCAF and CDC collaborate to help financial institutions measure and disclose their emissions

The Partnership for Carbon Accounting Financials (PCAF) and global non-profit environmental disclosure platform CDP today announce a collaboration to strengthen the ability of financial institutions to measure and report their funded emissions using the standard. PCAF Global GHG Accounting and Reporting Standard for the Financial Industry. This partnership will allow PCAF and CDP to combine […]

Financial institutions

Will telecommunications operators one day replace banks as financial institutions?

Sponsored by: Skaleet December 16, 2021 • • The rise of telecom operator-led mobile money services across Africa has blurred the lines between the types of businesses that can offer financial services. While banks were previously the sole depositories for most financial transactions, a wide range of non-traditional players – including fintechs and neobanks – […]

Financial institutions

Glia and Clinc partner to transform the customer experience of financial institutions | State

NEW YORK, December 9, 2021 /PRNewswire/ — Glia, a leading provider of Digital customer service, today announced its partnership with Clinc, a leader in conversational artificial intelligence technology for banking. Integrating Clinc’s technology into Glia’s digital customer service platform will enable financial institutions to modernize customer interactions for the digital world. Clinc integrates the virtual […]

Financial institutions

Gen Z’s Financial Anxiety Offers Major Opportunities for Financial Institutions – Tearsheet

Pandemic-fueled financial anxiety is still alive and well among Gen Zers. A September survey by Capital One found that nearly 40% of Gen Zers feel stressed about money due to the pandemic. . Almost half said Covid had impacted the way they manage their finances. However, Gen Zers still show a desire to learn more […]

Personal loans

Which personal loan stock is a better buy?

Shares of personal loan companies SoFi (SOFI) and Upstart (UPST) have posted impressive gains in 2021. Today, I’m going to take a look to see the major business segments of the companies and analyze what is the best investment at current valuations. shutterstock.com – StockNews Fintech companies have been on an absolute tear since the […]

Financial institutions

By helping banks and financial institutions break free from legacy limitations, FLOXX raises $8.5 million – Tech.eu

Bucharest-based fintech FLOXX has raised $8.5 million in a seed funding round. The enterprise-grade platform helps banks and financial institutions with complex IT infrastructures create digital experiences that neo-banks have championed for years, experiences that consumers increasingly expect. The seed funding will be used to expand operations across Europe and the United States, including through […]

Financial institutions

SRM Announces Cryptocurrency Advisory for Financial Institutions

MEMPHIS, Tenn.–(BUSINESS WIRE)–SRM (Strategic Resource Management), an independent advisory firm serving financial institutions in the United States and Europe, has announced its new cryptocurrency advisory offering. This addition to the company’s advisory services will provide cryptocurrency education, support product development and vendor selection for financial institutions integrating these technologies, and provide advice on key compliance […]

Financial institutions

Lake Trust Credit Union and Other Financial Institutions Enter Michigan’s Cannabis Banking Market

When the cannabis industry was launched in Michigan, conflicting federal and state laws prevented most banks and credit unions from participating in the burgeoning industry. That left a lot of dealing in cash. Medical marijuana and the New Generation Meds adult cultivation facility in Lansing are among the cannabis operations that have been able to […]

Financial institutions

Financial institutions oppose Biden’s plan to spy on customers’ bank accounts – The Mercury

In an effort to increase taxpayer compliance, the Biden administration has proposed that financial institutions be required to report additional information about account holders in an enhanced annual IRS Form 1099-INT. Starting in 2023, banks, credit unions, and other entities would be required to report annually to the IRS the gross inflows and outflows of […]

Financial institutions

Jack Henry & Associates Announces Executive Retirement

Published: October 26, 2021 at 7:00 a.m. CDT|Update: November 3, 2021 at 8:00 a.m. CDT MONET, Mo., November 3, 2021 /PRNewswire/ — Jack Henry & Associates, Inc.® (NASDAQ: JKHY) is a leading provider of technology solutions and payment processing services primarily to the financial services industry. The company today announced that the Chief Financial Officer […]

Financial institutions

Treasury Department Report on 21st Century Financial Institutions

WASHINGTON (October 22, 2021) – Following a review of federal banking practices, the Financial Stability Oversight Council (FSOC) yesterday released its recommendations on how regulators can ensure the financial system is properly prepared for the impending onslaught of climate change impacts. The report, which was mandated by a May 2021 White House executive order, was […]

Financial institutions

Why the climate summit is important for financial institutions, regulators and risk managers

The United Nations Conference of the Parties on Climate Change (COP26) in Glasgow is fast approaching. Beginning in late October, the mega conference will host representatives from nearly 200 countries for two weeks, with a focus on reviewing the Paris Agreement and each country’s carbon reduction commitments. The Paris Agreement: where it all began In […]

Bank loans

Growing Risks of Bank Lending Amid Pandemic – Opinion

Harry Pattikawa (Jakarta Post) PREMIUM Rotterdam, Netherlands ● Thu 21 October 2021 Bank Indonesia (BI) and the Indonesian Financial Services Authority (OJK) have been actively working hand in hand to rescue the national economy from the health crisis caused by COVID-19. BI increased the Loan to Value Ratio (LTV) regulation from 80-90% to 100%. LTV […]

Financial institutions

How Financial Institutions Can Prepare for Advanced Cyber ​​Threats in 2022 and Beyond

Banks and other businesses in the financial services industry are prime targets for cyberattacks with the plethora of sensitive information contained in customer records, especially as more of the world has moved to online banking and alternative/contactless payment methods during the pandemic. Today, a new wave of integrated finance software, banking as a service (BaaS) […]

Debt finance

South Korea is making every effort to reduce household debt: finance minister

SEOUL, Sept. 30 (Yonhap) — Finance Minister Hong Nam-ki said Thursday that the government will strive to limit household debt as much as possible, but also plans to explore ways for people to contract loans within the limit of their ability to repay their debts. Hong made the remarks during a policy coordination meeting with […]

Debt finance

S. Korea mulls additional steps to reduce household debt: CFO

SEOUL, Sept. 15 (Yonhap) — Finance Minister Hong Nam-ki said Wednesday that the government will explore additional measures to reduce household debt, including stricter lending rules for non-bank institutions. , if necessary. Hong said the country would seek to minimize the impact of loan regulations on people trying to take out loans to find rental […]

Bank loans

Bank lending to NBFCs grows more slowly as credit to small lenders dries up

Outstanding credit to non-bank lenders has been growing in the low numbers for much of the current year, with banks’ NBFC book actually down 2.2% year-on-year in June 2021. Growth in outstanding bank loans to non-bank financial corporations (NBFCs) has slowed significantly on an annual basis (year-on-year) in 2021, according to data released by the […]

Bank loans

TSB standing in potential deal for Ulster Bank loans

Shares of Permanent TSB soared more than 16% today after news broke of a potential deal worth around 7.6 billion euros to buy parts of Ulster Bank’s business here. The lender said it had entered into a non-binding memorandum of understanding with Ulster Bank owner NatWest over a potential acquisition involving certain elements of Ulster […]

Bank loans

Bank loans create 700 times more emissions than offices: study | Banking News

Greenhouse gas emissions from financing polluting industries are far higher than direct pollution from banks, according to the nonprofit. It is through their loan and investment portfolios that banks and asset managers make their greatest contribution to climate change. Greenhouse gas emissions associated with the investing, lending and underwriting activities of financial institutions are more […]

Debt finance

Government Leads the Way to Allow REITs to Debt REITs and InvITs

The Ministry of Finance said on Thursday that the finance bill proposes amendments to allow foreign portfolio investors (REITs) to enter into debt financing of emerging investment vehicles – REITs and InvITs. This decision aims to increase funds for the infrastructure and real estate sectors. Finance Minister Nirmala Sitharaman announced the move during the 2021 […]

Debt finance

Government Allows REITs to Debt REITs and InvITs

In a major move to increase funds for the infrastructure and real estate sectors, the government proposed on Monday to allow foreign portfolio investors to enter into debt financing of emerging investment vehicles – REITs and the invites. In the Union budget for 2021-2022, Finance Minister Nirmala Sitharaman also proposed to exempt REITs and InvITs […]