Digital lenders aim for small businesses underserved by large banks

July 23, 2019 at 08:14PM For small businesses looking to grow, access to capital is critical for success. The obstacle for many of these companies is the reluctance of big banks to approve loan applications from small businesses, particularly since the last recession. According to Biz2Credit, as of May, big bank approvals of small business … Continue reading Digital lenders aim for small businesses underserved by large banks

Banks accused of abandoning England’s poorest communities

July 22, 2019 at 12:01AM Research shows rate of branch closures is four times faster than in wealthy areasBanks are closing branches in deprived communities in England four times faster than in wealthy areas.High street banks have collectively closed 990 branches in the most deprived areas of the country since 2010, compared with 230 in … Continue reading Banks accused of abandoning England’s poorest communities

AML Compliance Costs Nordic Banks

July 21, 2019 at 11:06PM Anti-money-laundering compliance controls have impacted Nordic banks’ bottom lines. The region’s largest financial institutions — Swedbank AB, Nordea Bank ABP and Danske Bank A/S— have had to spend a good chunk of money on new compliance systems and the hiring of staff members after all have faced allegations of moving … Continue reading AML Compliance Costs Nordic Banks

Capital One: Pressure from non-banks is hurting commercial lending

July 19, 2019 at 05:04PM Capital One‘s commercial lending business is facing price pressure from a saturated market of lenders, including non-banks, that are pushing interest rates down.  “Increasing competition from non-banks continues to drive less favorable terms in the commercial lending marketplace,” CEO Richard Fairbank told investors on Thursday. Capital One isn’t alone in … Continue reading Capital One: Pressure from non-banks is hurting commercial lending

How banks can take a new look at SMEs

July 19, 2019 at 12:01AM Nadia Sood, CreditEnable: banks and SMEs are experiencing digital disenfranchisement SMEs are hailed as nation builders and the backbones of developed and emerging economies alike, and yet adequate financing from the formal market is still elusive for most SMEs at home and abroad. The primary reason is that the extraordinary … Continue reading How banks can take a new look at SMEs

Helping Small Banks And Credit Unions Bring Digital Life To Plastic

July 18, 2019 at 03:35PM The problem when it comes to innovation for regional banks and credit unions isn’t lack of interest. Quite the contrary, according to Ondot Systems CEO and President Vaduvur Bharghavan (better known as VB), who told Karen Webster in a recent conversation that the will is there as is the appropriate sense … Continue reading Helping Small Banks And Credit Unions Bring Digital Life To Plastic

Why Credit Unions Need To Innovate With Data To Gain Edge On Banks

July 18, 2019 at 09:01AM Data is where it’s at, and more credit unions (CUs) are waking up to the fact that without sophisticated analysis of customer data, they risk being left behind as financial institutions continue to adopt innovative digital technologies to please the modern consumer. The proper use of that data by CUs, … Continue reading Why Credit Unions Need To Innovate With Data To Gain Edge On Banks

Nichols: Banks Prepared for Interest Rate Uncertainty

July 17, 2019 at 08:39PM Despite economic headwinds and uncertainties around the Federal Reserve’s next move on interest rates, the banking sector remains strong and healthy, American Bankers Association President and CEO Rob Nichols said today in an interview with Bloomberg TV. The post Nichols: Banks Prepared for Interest Rate Uncertainty appeared first on ABA … Continue reading Nichols: Banks Prepared for Interest Rate Uncertainty

Ondot’s New Cloud Service Taps Digital Innovation For Banks

July 16, 2019 at 11:45PM Banks and credit unions looking for safer and more efficient digital and mobile services for debit and credit cards can now turn to the cloud. Silicon Valley’s Ondot Systems has developed a new cloud service for debit and credit card issuers that offers a great user experience while also being fast, easy … Continue reading Ondot’s New Cloud Service Taps Digital Innovation For Banks

FinCEN Warns Banks of Business Email Compromise Scams

July 16, 2019 at 05:31PM Business email compromise schemes—though which fraudsters target businesses and their fund transfers—generated more than $300 million a month in illicit revenue during 2018, the Financial Crimes Enforcement Network reported today. The post FinCEN Warns Banks of Business Email Compromise Scams appeared first on ABA Banking Journal. via ABA Banking Journal … Continue reading FinCEN Warns Banks of Business Email Compromise Scams

Challenger banks in France

July 16, 2019 at 08:00AM France is a key destination for many challenger banks, whether they are local or international. But, with so many new entrants in the market, will there be room for everybody? BankingTech is exploring the challenger bank landscape in France considering their offerings and their technology. We’ll be revisiting and updating … Continue reading Challenger banks in France

IMF: Banks Must Change In The Face Of Big Tech

July 15, 2019 at 06:31PM Banking institutions will get “left behind” if they don’t evolve as big tech companies continue disrupting the financial system, the latest research from the International Monetary Fund (IMF) says. “The Rise of Digital Money,” published July 15 and written by IMF authors Tobias Adrian and Tommaso Mancini-Griffoli, said cash and … Continue reading IMF: Banks Must Change In The Face Of Big Tech