February 7 – State regulators have released a new, voluntary tool to help banks and non-depository financial institutions better manage Bank Secrecy Act/Anti-money laundering risk. (more…)
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February 9 – During the month of President Trump’s inauguration, confidence in the U.S. economy reached the highest levels in five years among small businesses and middle-market companies, reports Barlow Research.
February 9 – Infosys Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys, along with its partner Let’s Talk Payments (LTP), have released a global survey report – Blockchain Technology: From Hype to Reality. According to the report, over 80 percent of bankers surveyed expect to see commercial adoption of the technology by 2020, with nearly half (50 percent) of the financial institutions already investing or planning to invest during 2017. This announcement builds on the recent announcement by Emirates NBD and ICICI Bank on the deployment of blockchain technology in international remittances and trade finance.
Worldwide revenues for information technology (IT) products and services are forecast to reach nearly $2.4 trillion in 2017, an increase of 3.5% over 2016. In a newly published update to the Worldwide Semiannual IT Spending Guide: Industry and Company Size, International Data Corporation (IDC) estimates that global IT spending will grow to nearly $2.65 trillion in 2020. This represents a compound annual growth rate (CAGR) of 3.3% for the 2015-2020 forecast period.
February 9 – Malauzai Software, a provider of mobile and Internet banking SmartApps™ for community financial institutions, released its latest “Monkey Insights, Digital Banking Usage” providing significant trends and usage within the internet and mobile banking arenas from more than 415 U.S. financial institutions.
February 3 – President Donald Trump signed an executive order on Feb. 3 mandating a thorough review of financial regulations including the Dodd-Frank Act. It is expected to foster major changes in Dodd-Frank. (more…)
February 3 – Mercator Advisory Group’s most recent Insight Summary Report, Omnichannel and Branch Banking: Remember and Reward Your Customers, reveals that U.S. consumers want their financial institution to offer them better rates and rewards. The report from the Banking and Channels Survey in the bi-annual CustomerMonitor Survey Series, a part of Mercator’s Primary Data Service. It is based findings from Mercator Advisory Group’s CustomerMonitor Survey Series online panel of 3,000 U.S. adult consumers surveyed in November 2016.
February 3 – The National Association of Hispanic Real Estate Professionals (NAHREP®) has announced for the second year in a row, United States Census data demonstrates Hispanics were the only ethnic demographic with an increase to their homeownership rate, which surged from 45.6 percent in 2015 to 46.0 percent in 2016. The improvement came in a year when Hispanics also led in net household formations, adding a total net increase of 330,000 households.
February 3 – Citi Retail Services and Sears Holdings have launched the Sears Mastercard with Shop Your Way, available today. With an industry-leading 5-3-2-1 rewards offer, customers can earn rewards points on all purchases everywhere they shop. The Sears Mastercard is powered by Citi Retail Services, one of the country’s largest and most experienced private label and cobrand credit card issuers.
February 3 – The 2017 Identity Fraud Study released by Javelin Strategy & Research (@JavelinStrategy), reveals that the number of identity fraud victims increased by 16 percent (rising to 15.4 million U.S. consumers) in the last year, a record high since Javelin Strategy & Research began tracking identity fraud in 2003. The study found that despite the efforts of the industry, fraudsters successfully adapted to net two million more victims this year with the amount fraudsters took rising by nearly one billion dollars to $16 billion.