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Santander Adopts nCino Platform For Faster SMB Lending

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“Santander Bank is adopting nCino technology to accelerate its business lending operations, the FI announced on Wednesday (July 18)” reports pymnts.com. Last year, nCino announced updates to its banking operating system to accelerate small business lending functionality, including underwriting and eSignature capabilities.Additional features will be added onto the nCino platform for Santander customers as the year continues, the bank noted, beginning with online loan application and customer relationship features.In another statement, nCino CEO Pierre Naudé said that Santander’s adoption of the nCino platform represents the bank’s understanding of the importance of…

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Barclays appoints Campili as vice chairman for healthcare banking

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“(Reuters) – Britain’s Barclays on Thursday appointed Darren Campili as vice chairman of healthcare banking, effective from towards the end of the summer” writes Midwest Communications Inc for 95kqds.com. Campili will focus on expanding Barclays’ relationships with European life sciences clients by providing advice and capital-raising services, the lender said in a statement. http://bit.ly/2JD1yuz Campili has spent the last twelve years at Deutsche Bank, where most recently he was global head of healthcare banking. Source: 95kqds.com Share This:

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America may not have the tools to counter the next financial crisis, warn Bernanke, Geithner and Paulson

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“A decade after the 2008 recession, the policymakers who countered it on its front lines are worried that the U.S. may not be adequately armed for the next economic crisis” writes Natasha Turak for cnbc.com. Post-crisis reforms also strengthened the banking system and made it easier for big banks to be shut down rather than needing government bailouts.The former economic officials said that the changes so far made sense, like exempting some smaller banks from the law’s strictest requirements.Current efforts are underway by Congressional Republicans and President Donald Trump to…

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NY Regulator Looks To Interest Rate Caps For FIs And FinTech Firms

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“However, looking elsewhere beyond U.S. shores, one will find another pairing between a traditional financial services firm and a FinTech” reports pymnts.com. The duo will integrate Strand’s business financial management offering and Mastercard’s digital payments technology.Yet, noted the publication, only one traditional banking player in the region, Standard Chartered, has said it will apply for that license, and the deadline looms at the end of August.In the past (and the present), some online lenders have sought to help leverage that exemption as a way to avoid relatively lower interest rate…

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Hong Kong and banks including HSBC and Standard Chartered are launching a blockchain-based trade finance platform

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“The other banks involved in the Hong Kong initiative are BOC Hong Kong, Hang Seng Bank, Bank of East Asia, Australia and New Zealand Banking Group and Singapore’s DBS Group” reports businessinsider.com. REUTERS/Bobby Yip HONG KONG (Reuters) – Hong Kong’s banking regulator and seven banks, including HSBC and Standard Chartered, on Tuesday said they will jointly launch a trade finance platform in September using blockchain technology.In May, HSBC and ING said they performed the world’s first trade finance transaction using a single blockchain platform.To that end, banks, governments and technology…

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Hong Kong regulator, banks launch blockchain-based trade finance platform

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“HONG KONG (Reuters) – Hong Kong’s banking regulator and seven banks, including HSBC Holdings PLC and Standard Chartered PLC , on Tuesday said they will jointly launch a trade finance platform in September using blockchain technology” writes Midwest Communications Inc for 95kqds.com. In May, HSBC and ING Groep NV said they performed the world’s first trade finance transaction using a single blockchain platform.To that end, banks, governments and technology firms have been investing in technology for trade finance.A 2017 survey by the Asian Development Bank found the global trade finance…

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Postal banking faces challenges, but is more plausible than you’d think

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“Opponents insist that government-to-consumer lending is an unproven, big-government takeover of a mature, well-regulated (but disliked by some) industry” reports washingtonexaminer.com. We don’t think of state and federal agencies as financial services institutions, but that’s exactly what Sen.Additionally, these same governments offer direct loans for mortgages, student aid, rural development, and more.More recently, Native American tribal governments have developed internet-based financial services businesses and used the revenues for social, cultural, and infrastructure projects on the reservation.However, state, federal, and tribal government-to-consumer direct lending is nothing new. Source: washingtonexaminer.com Share This:

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Wells Fargo Q2 Earnings Miss, Fee Income Disappoints

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“Impacted by lower mortgage banking revenues, Wells Fargo WFC recorded a negative earnings surprise of 3.6% in second-quarter 2018” writes Partner Content for investopedia.com. Overall high revenues were reflected, driven by elevated banking, equity markets and consumer banking revenues, along with loan growth.Non-interest income at Wells Fargo came in at around $9 billion, down 8% year over year, primarily due to fall in almost all components of income, including mortgage banking and insurance income.The Community Banking segment’s total quarterly revenues decreased 1.7%, Wholesale Banking revenues were down around 4%, and…

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Morgan Stanley’s Pick promoted to head of institutional securities: memo

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“Pick, 49, started his career at Morgan Stanley in investment banking and later moved to trading” writes Midwest Communications Inc for 95kqds.com. In addition to Pick’s elevation, Susie Huang will become co-head of investment banking alongside Mark Eichorn, according to the memo.The move, part of a broader executive shuffle that also moved Franck Petitgas from co-head of investment banking to head of Morgan Stanley’s international business, was disclosed in an internal memo seen by Reuters on Tuesday. Source: 95kqds.com Share This:

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