CRN India’s Post

BCT Digital partners with a prominent mid-segment Private Bank to strengthen credit monitoring with rt360 EWS offering - https://bit.ly/3CwySEH | #BCT_Digital #credit_monitoring

BCT Digital announced that a prominent mid-segment Private Bank has selected its rt360 Early Warning System (EWS) to automate and strengthen bank’s credit monitoring capabilities. #BCTDigital #EarlyWarningSystem #PrivateBank

Fintech companies and their sponsor banks are under increased scrutiny from regulatory bodies like the Federal Reserve, OCC, and FDIC. With third-party arrangements introducing various risks, clear risk management practices are essential. Fintechs can no longer rely on sponsor banks to absorb all risks for growth, especially given the evolving market challenges and dynamics. #Fintech #RiskManagement #RegulatoryCompliance https://lnkd.in/gBsymbmM

Critical Statistics Underpinning the Banking Industry’s Vulnerabilities Loan Pool Concentration: At its collapse, SVB had concentrated 50% of its loan portfolio in VC-backed startups, a stark indication of over-concentration risk. Subprime Mortgages Precedence: Reflecting on historical precedents, nearly 25% of all mortgages were subprime in 2006, leading to the financial crisis. This scenario parallels the over-concentration risks that contributed to SVB’s downfall. Consumer Banking Preferences: A Goldman Sachs analysis reveals that 87% of retail bank consumers prefer banks with local branch locations, illustrating banks’ geographical concentration challenges. Small Business Loan Statistics: Three-quarters of small business owners procure loans from banks within a 25-mile radius of their operations, further highlighting the concentration in loan sourcing. Diversification Benefits: Research indicates that during the 2008 financial crisis, diversified banks could lend twice as much to small businesses compared to their less diversified counterparts, underscoring the stabilizing effect of diversification on lending practices.

The evolving collaboration between banks and FinTechs reflects a significant shift in the financial landscape. Regulatory interventions, highlighted by recent actions against Sutton Bank and Piermont Bank by the Federal Deposit Insurance Corp., emphasize the need for oversight and compliance. Internal controls, data management, and regulatory adherence are key focal points in navigating the changing dynamics of the financial supply chain. Acting Comptroller of the Currency Michael Hsu stresses the importance of clarity and vigilance in managing risks associated with multi-firm collaborations, prioritizing bank safety, consumer protection, and a level playing field. Insights from PYMNTS Intelligence underline the growing trend, with 65% of banks engaging in FinTech partnerships to meet customer expectations and enhance digital offerings. In this era of transformation, collaborative efforts drive innovation and pave the way for superior customer experiences and sustainable growth. https://lnkd.in/gY8c-gtg #HalifaxWest #WinTogether #capitaladvisory #MandA #restructuring #operatingadvisory #FinancialInnovation #BankingTransformation #FinTechCollaboration #BankingInnovation #PYMNTS #FinTechs #SuttonBank #PiermontBanks #FDIC

With the The Digital Operational Resilience Act (DORA) less than a year away, the BofE are warning that they are not seeing the progress that they expect from the banks. Come talk with Appian about how we can help you to orchestrate that change. #banking #digitaloperationalresilienceact #financialservices #Appian https://lnkd.in/gwS4WpZ9

Explore BRAC bank's comprehensive Digital Transformation journey, aimed at achieving specific business goals and optimizing operations with Newgen’s Deposit Account Opening (DAO) solution and Document Management System (DMS) to eliminate manual workflows and digitize end-to-end processes. The case study highlights: 🚧 Operational Roadblocks impacting the overall efficiency 🛠️ Core functionalities of the deployed solutions 💰 Business benefits achieved by BRAC bank Read more: https://lnkd.in/gAva4YbT #Newgen #Banking #DepositAccountOpening #DAO #DocumentManagement #DMS #DigitalTransformation

Without a core banking system, MFIs and SACCOs face operational inefficiencies, data management issues, limited access to financial services, risk management challenges, and scalability problems, highlighting the urgent need to adopt solutions like Zimba Core Banking System for improved efficiency and sustainable growth. #fintech #zimbatechnologies #mfi #sacco #moneylenders

Macquarie Bank latest update: Maquarie Bank equifax portal will be replaced with Access Seeker, allowing you to validate customer credit reports using Access Seeker report via ApplyOnline. #macquariebank #accessseeker #mortgagebroker #newupdate2024 #oceaniaoutsourcing #equifaxreport

We're excited to announce the continued expansion of the Confirmation validated bank network. With the industry's largest network, we guarantee quick and reliable responses to your audit confirmation requests. Curious about our newest additions? Check them out here: https://okt.to/h8PHIb #fintech #audit #digitalconfirmation #banks #audittechnology #banking