LendTech Collective
Monthly Newsletter | July 2023 (Edition:126)
In this edition:
- In this edition, we delve into the importance of Unlocking Seamless Onboarding and Tackling Compliance Hurdles.
- Stay up-to-date with the latest news in the banking & lending sector.
- Explore our coverage of the latest technological developments driving the FS industry.
Featured Article: Digital Onboarding Solutions for a Frictionless Customer Journey
The adoption of digital onboarding represents a paradigm shift in the lending industry. Lenders leveraging technological advancements can streamline onboarding, enhance customer satisfaction, and drive operational efficiency. By embracing digital onboarding, lenders can demonstrate their commitment to providing a modern and customer-centric experience, setting themselves apart from competitors. Lenders have a range of digital onboarding solutions to streamline the customer onboarding process.
Must Read: Unveiling the Top 5 Compliance Challenges for the Financial Services Industry
In the ever-evolving landscape of the lending industry, compliance has emerged as a vital cornerstone for success. With its complex regulatory framework and stringent requirements, the financial services sector emphasizes maintaining compliance standards. In this article, we delve into the top compliance challenges facing the financial services industry, shedding light on the importance of compliance and its profound impact on the lending landscape.
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What’s Making Headlines
Japanese financial powerhouses pursue US investment banking opportunities
Executives say that Japan’s top lenders aim to carve out a larger presence in U.S. investment banking as they look to better use their massive balance sheets by winning a bigger slice of deals.
Recession fears overshadow Credit Unions’ strength in auto loans
The concerns about a recession negatively impact the perception of credit unions’ strength in the auto loan market. Despite credit unions historically being a reliable and competitive source for auto financing, the fear of an economic downturn has led to increased caution among borrowers.
Biden proposes new student-loan measures after court defeat
Following a court defeat, President Biden has put forward new proposals aimed at addressing the challenges surrounding the student loan. The new proposal may include options such as expanded loan forgiveness programs, income-driven repayment plans, and enhanced borrower protections
Tech Talk
EU and Japan seek collaboration on AI and chips amid China’s ‘de-risking’ efforts
The EU is looking to “de-risk” from China, and part of that strategy involves deepening the relationship with allied countries around technology.
Avaloq chosen by Capital Union Bank for new online banking platform
Capital Union Bank, based in the Bahamas, has chosen Avaloq’s Web Banking solution as the driving force behind its upcoming online banking platform. The bank is also planning to enhance its core banking system through collaborative innovation with Avaloq, incorporating new modules and features.
Plaid Beacon introducing real-time fraud prevention solution
Plaid has announced the launch of Plaid Beacon. This anti-fraud network enables real-time, secure data sharing across the ecosystem to mitigate repeat fraud against businesses for fintech and banks via API (Application Programming Interface).
For any feedback, suggestions, or questions, feel free to write to us at: editors@insightconsultants.online.
