A majority of bankers expect their financial institutions to use third-party vendors or a combination of advisors and third-party vendors to help them implement the Current Expected Credit Loss model, or CECL, according to an informal poll released by Sageworks and MST.

A new white paper outlines lessons learned in banking the unbanked and creating a path to prosperity.

We welcomed the extension of the entrepreneurs’ tax relief announced at last year’s Autumn Budget, and are pleased to see no further changes in this year’s budget, as had been rumoured. Making the relief available only to entrepreneurs who have owned their business for over two years should help promote a stronger commitment by owners to their businesses and encourage them to plan for the long term.

Nordea expands its digital payment offering by adding Google Pay, a mobile payment solution for Android phones. Nordea customers in all Nordic countries can now use Google Pay at contactless payment terminals and in apps and online stores.

Banking transactions are rapidly moving online, offering convenience to customers and allowing banks to close branches and re-focus on marketing more profitable financial products. At the same time, new payment methods, like the UK’s Faster Payment System, make transactions irrevocable within hours, not days, and so let recipients make use of funds immediately.

Alipay has announced today that it will launch new initiatives to provide more digital tools, safeguards, loan services and training to further improve efficiencies and support the growth and digitization of small and micro businesses (SMBs) in China. 

Equifax, the consumer and business insights expert, announces the latest development in its partnership with consents.online, integrating Equifax Bank Account Verifier into the Open Banking journey.

The new solution means identity information such as the consumer’s name, address and date of birth, can for the first time be matched with transaction data provided through Open Banking in real time. This will help reduce fraud, allowing credit providers using Open Banking to confirm that account information belongs to the person applying for credit, and not a potential fraudster.