Online Banking – Innovative Words http://innovativewords.com/ Thu, 06 Jan 2022 16:03:51 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://innovativewords.com/wp-content/uploads/2021/04/default.png Online Banking – Innovative Words http://innovativewords.com/ 32 32 5 bank stocks to buy as Fed signals faster rate hikes – January 6, 2022 https://innovativewords.com/5-bank-stocks-to-buy-as-fed-signals-faster-rate-hikes-january-6-2022/ Thu, 06 Jan 2022 15:52:44 +0000 https://innovativewords.com/5-bank-stocks-to-buy-as-fed-signals-faster-rate-hikes-january-6-2022/ Yesterday, the minutes of the Federal Reserve’s December meeting were released. This showed that Fed officials are very concerned about “high inflation levels” and the tighter job market. Officials are poised to become more aggressive to scale back ultra-relaxed monetary policies, which were introduced in March 2020 to prop up the U.S. economy against the […]]]>

Yesterday, the minutes of the Federal Reserve’s December meeting were released. This showed that Fed officials are very concerned about “high inflation levels” and the tighter job market. Officials are poised to become more aggressive to scale back ultra-relaxed monetary policies, which were introduced in March 2020 to prop up the U.S. economy against the COVID-19 downturn.

This will result in an increase in interest rates faster than expected and a reduction in the size of the balance sheet “soon after you start raising the federal funds rate.” According to data from the CME FedWatch Tool, there is currently almost a 70% chance that the Fed will raise interest rates by 25 basis points in March.

Thriving in an environment of higher interest rates, banks should remain in the spotlight. Therefore, we have chosen – Comerica Incorporated (CMA Free report), Fifth Third Bancorp (FITB Free report), Wells Fargo & Company (WFC Free report), East West Bancorp, Inc. (EWBC Free report) and Western Alliance Bancorporation (WAL Free Report) – as these will benefit from the Fed’s hawkish stance.

Following indications that the Fed will reduce its presence in long-term bond markets, the 10-year Treasury yield has reached its highest level since April 2021. The central bank has about $ 8.8 trillion on its balance sheet. Most of this was amassed during the pandemic in order to keep financial markets stable and to maintain interest rates over the long term.

In addition, the outlook for a rate hike has pulled yields on 2-year Treasuries, which are extremely sensitive to changes in Fed policy, jump to their highest level since March 2020.

These factors, along with the Fed’s plan to speed up its reduction in bond purchases, make it clear that the US economy has emerged from the pandemic-era downturn and is expected to continue to grow this year and beyond despite several concerns such as supply chain bottlenecks and the emergence of new COVID-19 variants.

Here’s how banks can win

Since March 2020, banks have been witnessing a contraction in the net interest margin (NIM) due to the Fed’s accommodative monetary policy and near zero interest rates. So, faster than expected interest rate hikes will come as a respite for banks and improve margins and net interest income (NII), which is a significant portion of income.

In addition, the steepening of the yield curve (the difference between short and long term interest rates), robust economic growth and a gradual increase in credit demand are expected to boost margins and NII. Banks are taking initiatives to restructure their operations in order to diversify their footprint and revenue base. Efforts to focus more on non-interest income should support bank turnover growth.

Our top five picks

On the basis of these favorable developments, investing in bank stocks will be very profitable in the future. Shortlisted banks have seen a positive revision to earnings estimates of at least 1% for 2022 in the past four weeks. In addition, these banks recovered by more than 50% last year.

All five banks have a market capitalization of at least $ 10 billion and currently carry a Zacks Rank # 2 (Buy). You can see The full list of Zacks # 1 Rank (Strong Buy) stocks today here.

Performances in 2021

Image source: Zacks Investment Research

Based in Dallas, Texas, Comerica provides banking and financial services in three main geographic markets: Texas, California, Michigan, Arizona and Florida. The company, which has a market capitalization of $ 12.1 billion, has operations in many other US states, as well as Canada and Mexico.

Comerica’s emphasis on improving operational efficiency led to the introduction of GEAR Up initiatives in mid-2016. Since the implementation of this initiative, the bank has consolidated several banking centers, significantly reduced pension expenses and laid off a number of employees. These efforts have resulted in an improvement in the efficiency ratio and return on equity over time.

Comerica remains focused on the revenue growth strategy. With a gradual recovery of loan commitments, a strong loan pipeline and strong economic growth, the Company’s loan balance is expected to continue to improve, fueling the growth of NII.

A manageable level of debt, superior long-term credit ratings, a strong balance sheet and impressive credit standing are other catalysts supporting Comerica. In addition, the company’s capital deployment activities are encouraging and sustainable.

In 2021, the CMA gained 55.7%. Zacks’ consensus estimate for 2022 earnings has been revised up 6.1% in the past 30 days.

With assets of $ 208 billion, HO-based Cincinnati Fifth Third Bancorp operates 1,110 full-service banking centers in 11 states in the Midwestern and Southeastern regions of the United States.

FITB’s efforts to broaden the non-interest income base over the years through strategic partnerships and acquisitions in various industries such as healthcare (including the acquisition of Coker Capital in 2020 and the Provide buyout in August 2021) will support vertical markets and results in revenue growth, expense savings as well as operational excellence.

The company remains focused on optimizing branches to strengthen its presence in high growth markets. Fifth Third Bancorp is reallocating its branch network to improve its presence in the Southeast and reduce its presence in the Midwest. Along with this, nearly 25 branch openings are targeted each year through 2025. It is also on track to close an additional 42 branches in the first quarter of 2022 (mostly in the Midwest).

A strong balance sheet and superior long-term credit ratings from major rating agencies should continue to support the growth of the company. Additionally, Fifth Third Bancorp’s sustainable capital deployments reflect a strong liquidity position and will continue to increase shareholder value.

Shares of FITB, which has a market capitalization of $ 31.8 billion, rose 58% in 2021. The company’s earnings estimates for 2022 rose 1.2% in the north in the past four weeks .

Based in San Francisco Wells fargo is one of the largest financial services companies in the United States. WFC had more than $ 1.9 trillion in assets and $ 1.4 trillion in deposits as of September 30, 2021.

Wells Fargo continues to build on its deposit base, which has seen a five-year (2016-20) CAGR of nearly 2%, with a trend that continues into the first nine months of 2021. With the strong economic recovery and the resumption of business activities, the deposit balance is expected to continue to improve. This is likely to support WFC’s liquidity position.

Wells Fargo’s prudent expense management initiatives are supporting its finances. The company is focused on reducing its expense base by streamlining the organizational structure, closing branches and downsizing by optimizing operations and other back office teams.

Normalization of credit quality, a healthy balance sheet and investment grade credit ratings are other positive winds, which will continue to support Wells Fargo’s finances. The company’s impressive capital deployment plans are sustainable, thanks to strong earnings.

The stock, which has a market cap of $ 214.7 billion, rose 59% last year. Over the past month, WFC’s earnings estimates for 2022 were revised up 4.7%.

Based in Pasadena, California, Bancorp East West serves as a financial bridge between the United States and China by providing various consumer and business banking services to the Asian-American community. EWBC operates in more than 120 locations in the United States and China.

East West Bancorp is focusing on its organic growth strategy. Although the company’s NII, which is the main source of its revenue, declined in 2020, it registered a CAGR of 5.1% in the past four years (2017-2020). Momentum has also persisted in the first nine months of 2021. Improving loans and deposits should further support the NII.

East West Bancorp’s capital deployment activities appear impressive. In January 2021, the company increased its quarterly dividend from 20% to 33 cents per share. EWBC has set up a share buyback plan. As of September 30, 2021, there was still $ 354.1 million in shares to be repurchased under the repurchase plan.

Growth in loans and deposits, a strong balance sheet and investment-grade credit ratings should continue to support East West Bancorp’s finances. The stock, with a market cap of $ 11.7 billion, jumped 55.1% in 2021. EWBC’s earnings estimates for 2022 have risen 1% in the past 30 days.

Western Alliance, based in Phoenix, AZ, offers a wide range of deposit, lending, cash management, international banking and online banking products and services. As of September 30, 2021, WAL had total assets of $ 48.3 billion, $ 34.6 billion in net loans held for investment and $ 45.3 million in total deposits.

Western Alliance has seen a steady improvement in its revenues. Over the past five years, revenue has registered a CAGR of 15.3%, with the uptrend continuing in the first three quarters of 2021. The increase in loan and deposit balances, efforts to to strengthen commission revenue streams and improving economy will boost revenue in the next quarters.

The company has also grown through strategic takeovers. In April, Western Alliance completed the previously announced acquisition of Aris Mortgage Holding Company, LLC for nearly $ 1.22 billion. The acquisition complements the company’s domestic business operations and expands its mortgage-related offerings. This diversifies the composition of WAL’s income by broadening sources of non-interest income.

WAL’s capital deployment activities appear impressive. During the third quarter of 2021, the company increased its quarterly dividend from 40% to 35 cents per share. This was the first dividend increase for the company since it started paying the same amount from August 2019.

The stock, which has a market cap of $ 12.1 billion, jumped 79.6% last year. WAL’s earnings estimates for 2022 were revised up 1.8% over the past month.


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Local bank facing the COVID epidemic https://innovativewords.com/local-bank-facing-the-covid-epidemic/ Tue, 04 Jan 2022 19:19:55 +0000 https://innovativewords.com/local-bank-facing-the-covid-epidemic/ By YOURI KEMP La Tribune Business Journalist ykemp@tribunemedia.net Scotiabank has advised customers to use digital banking services amid the COVID-19 outbreak at two of its local branches. In a media statement, Scotiabank Bahamas said, “They can continue to access a wide variety of banking services using the Bank’s digital service channels, even though the Bank […]]]>

By YOURI KEMP

La Tribune Business Journalist

ykemp@tribunemedia.net

Scotiabank has advised customers to use digital banking services amid the COVID-19 outbreak at two of its local branches.

In a media statement, Scotiabank Bahamas said, “They can continue to access a wide variety of banking services using the Bank’s digital service channels, even though the Bank faces operational challenges at two locations due to the increase in local positive cases of COVID-19.

“On Thursday, December 30, the Bank informed that branches located at Palmdale Avenue and Freeport will be temporarily closed until January 4 following COVID-19 exposures among staff at both branches.

The statement continued, “Roger Archer, Managing Director of Scotiabank in the Bahamas, said the bank continues to urge all customers to use its digital channels.

“Retail banking customers can visit our website to register for online banking or access online banking, giving them access to money transfers, loan and bill payments,” wire transfers, account information and more at their convenience, ”noted Archer. Scotiabank Business Banking customers can sign up for Scotia OnLine for Business to access online payments so they can stay in business regardless of disruption.

“We continue to invest significantly in our digital channels so that all of our customers can transact securely and conveniently,” added Archer.

“In the meantime, the Senior Banker said the Bank is providing all necessary support to staff members and clients attached to affected branches who may have specific concerns due to the closures.

“Despite the challenges, we remain committed to delivering on our commitment to provide world-class banking services to all of our customers. At this time, I would like to specially thank our team members for their unwavering commitment and urge all customers to continue to observe necessary health and safety precautions at this time. “


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Victims of bank hacking invited to file a complaint with BSP https://innovativewords.com/victims-of-bank-hacking-invited-to-file-a-complaint-with-bsp/ Sun, 02 Jan 2022 16:48:47 +0000 https://innovativewords.com/victims-of-bank-hacking-invited-to-file-a-complaint-with-bsp/ A lawmaker said on Sunday that depositors who lost money due to hacking should file formal complaints with the Bangko Sentral ng Pilipinas (BSP). Representative Michael T. Defensor of Anakalusugan said in a statement that victims should seek help if they are not satisfied with the way their cases have been resolved by their banks. […]]]>

A lawmaker said on Sunday that depositors who lost money due to hacking should file formal complaints with the Bangko Sentral ng Pilipinas (BSP).

Representative Michael T. Defensor of Anakalusugan said in a statement that victims should seek help if they are not satisfied with the way their cases have been resolved by their banks.

“The BSP has put in place an administrative mechanism to provide redress to aggrieved depositors who feel they have been treated unfairly by their banks,” Defensor said.

He urged disgruntled bank customers to email the BSP consumer helpline at consumeraffairs@bsp.gov.ph.

Defensor, meanwhile, rejected general disclaimers in the general conditions governing bank accounts as membership contracts “which cannot be enforced when depositors lose money under conditions where they do not. are not at fault ”.

“If you are a perfect depositor and you lose money because the bank’s computer system has been hacked and illegal transfers have been made from your account, then the bank has no other choice. than to pay off your losses, ”Defensor said.

“Certain provisions of bank membership contracts, such as massive disclaimers, can be overturned or ignored by regulators and courts, if it turns out that innocent depositors have lost money due to loopholes. security in the bank’s computer system “, explained the legislator.

Responnse

DEFENSOR was responding to controversy surrounding BDO Unibank Inc.’s alleged inclusion of a blanket disclaimer in its terms and conditions after hackers stole funds from hundreds of depositors.

The disclaimer states that the bank “will not be liable for losses resulting from improper or fraudulent access to online bank accounts.”

BDO, the country’s largest bank by assets, in a statement, categorically denied updating its terms and conditions with the warning, saying the clause has been around “for a long time.”

BDO also clarified that no changes were made to its terms and conditions after the cybercrime incident that affected hundreds of its customers earlier this month.

A few weeks ago, BDO was the target of a cybercrime incident in which money was unknowingly transferred from BDO account holders to a certain “Mark Nagoyo”, who has multiple accounts at UnionBank. of the Philippines Inc.

BDO said it is currently processing refunds for nearly 700 customers affected by recent fraudulent online transactions.


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Protect your money from online banking scams https://innovativewords.com/protect-your-money-from-online-banking-scams/ Sat, 01 Jan 2022 01:52:00 +0000 https://innovativewords.com/protect-your-money-from-online-banking-scams/ TAMPA, Fla – Online banking and e-commerce are an integral part of our way of life. This is often how we buy food, gas, clothes and pay our bills. But online banking platform One CEO Brian Hamilton says convenience comes at a cost. Fraudsters are always one and always attentive, ”he said. It is estimated […]]]>

TAMPA, Fla – Online banking and e-commerce are an integral part of our way of life.

This is often how we buy food, gas, clothes and pay our bills. But online banking platform One CEO Brian Hamilton says convenience comes at a cost.

Fraudsters are always one and always attentive, ”he said.

It is estimated that by 2021 alone, the amount of money people lost in online banking scams was in the billions. And repeatedly, Hamilton says the scams are linked to a form of identity fraud where crooks will set up real bank accounts under your name.

“They actually then open an account that has an ACH or bank-to-bank connection and then they use that to connect to your real funds and withdraw money,” he said. .

So how do you protect yourself and your money?

Well, Hamilton says it all comes down to things like regularly changing your passwords and using online tools to verify that it is you when you log into your account.

Enable two-factor authentication, right? So that you receive an SMS on your phone if someone tries to access your account, ”he said.

And he adds that some online banking groups, like his company, also allow you to “lock in” some of your money. So if the crooks get access to it, they can’t steal everything.

“This would therefore prevent anyone from accessing this pocket [of money] remote from this account, ”he said.


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New York’s remote online notarization bill enacted – finance and banking https://innovativewords.com/new-yorks-remote-online-notarization-bill-enacted-finance-and-banking/ Thu, 30 Dec 2021 10:33:51 +0000 https://innovativewords.com/new-yorks-remote-online-notarization-bill-enacted-finance-and-banking/ United States: New York’s remote online notarization bill enacted December 30, 2021 Holland and knight To print this article, simply register or connect to Mondaq.com. New York Governor Kathy Hochul signed Senate Bill 1780C on December 22, 2021, which allows state notaries to perform remote online notarization (RON). The law is expected to come into […]]]>

United States: New York’s remote online notarization bill enacted

To print this article, simply register or connect to Mondaq.com.

New York Governor Kathy Hochul signed Senate Bill 1780C on December 22, 2021, which allows state notaries to perform remote online notarization (RON). The law is expected to come into force on June 20, 2022. New York joins more than 37 states that already allow RON. When New York notaries start filling out RONs next year, California (which has pending RON legislation) and several other key states will remain notable exceptions that do not allow the use of this notarization technology.

How RONs Generally Work

For a detailed explanation of how RONs work and the business cases for its implementation, please see the related articles, “Remote Online Notarization Will Support Business Continuity,” March 24, 2020 and “Online Notarization remote line in mortgage closings ”, April 2021.

New York RON Law Analysis

The newly enacted legislation reflects, in many ways, the laws already in effect in the majority of states in the country and gives the New York Secretary of State significant regulatory authority over its implementation. For example, it requires the New York Secretary of State to provide regulations setting standards to ensure that the audio / video conference used for the notary session is secure, that the notary session is conducted in real time, and that the notary is able to communicate with and identify signatory at the time of the notarial deed. Identifying the signer should require analyzing the identifying information of the signer’s identity card (i.e. passport or driver’s license) as well as correctly answering four of the five questions. ‘Knowledge-based authentication within a defined period of time (i.e. who is your car loan with, at what address have you never lived, etc.). Obtaining timely and easy to understand regulations that can be implemented by industry will be necessary for a timely deployment. Also, keep in mind that knowledge-based authentication questions are typically generated from a U.S. social security number, creating potential hurdles for foreign nationals.

New York notaries who perform RONs will need to keep a recording of the session for 10 years, along with the type of identification presented to the notary. Notaries will also need to register with the state and will only be allowed to make RONs when located in New York City, although signatories can be out of state.

The content of this article is intended to provide a general guide on the subject. Specialist advice should be sought regarding your particular situation.

POPULAR POSTS ON: Finance and Banking in the United States


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Hancock Whitney Corporation to Report Fourth Quarter 2021 Financial Results and to Host a Conference Call on January 18 | Nation / World https://innovativewords.com/hancock-whitney-corporation-to-report-fourth-quarter-2021-financial-results-and-to-host-a-conference-call-on-january-18-nation-world/ Tue, 28 Dec 2021 14:17:06 +0000 https://innovativewords.com/hancock-whitney-corporation-to-report-fourth-quarter-2021-financial-results-and-to-host-a-conference-call-on-january-18-nation-world/ GULFPORT, Mississippi – (BUSINESS WIRE) – December 28, 2021– Hancock Whitney Corporation (Nasdaq: HWC) will report fourth quarter 2021 financial results on Tuesday, January 18, 2022 after market close. Management will host a conference call for analysts and investors at 4:00 p.m. Central time on Tuesday, January 18, 2022 to review the results. A live […]]]>

GULFPORT, Mississippi – (BUSINESS WIRE) – December 28, 2021–

Hancock Whitney Corporation (Nasdaq: HWC) will report fourth quarter 2021 financial results on Tuesday, January 18, 2022 after market close. Management will host a conference call for analysts and investors at 4:00 p.m. Central time on Tuesday, January 18, 2022 to review the results.

A live webcast of the call will be available in the Investor Relations section of Hancock Whitney’s website at investors.hancockwhitney.com. To participate in the question-and-answer portion of the call, dial 844-200-6205 or 646-904-5544, access code 925066.

An audio archive of the conference call will be available in the Investor Relations section of our website. A replay of the call will also be available until January 25, 2022 by dialing 866-813-9403 or 929-458-6194, access code 899285.

About Hancock Whitney

Since the late 1800s, Hancock Whitney has embodied the core values ​​of honor and integrity, strength and stability, commitment to service, teamwork and personal responsibility. Hancock Whitney’s offices and financial centers in Mississippi, Alabama, Florida, Louisiana and Texas offer comprehensive financial products and services, including traditional and online banking; commercial and small business banking services; private banking; trust and investment services; health care bank; certain insurance services; and mortgage services. The company also operates a loan production office in Nashville, Tennessee. More information is available at www.hancockwhitney.com.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20211228005111/en/

CONTACT: Trisha Voltz Carlson, Executive Vice President, Head of Investor Relations

504.299.5208 ortrisha.carlson@hancockwhitney.com

KEYWORD: UNITED STATES NORTH AMERICA MISSISSIPPI TEXAS

INDUSTRY KEYWORD: BANKING PROFESSIONAL SERVICES INSURANCE FINANCE

SOURCE: Hancock Whitney Corporation

Copyright Business Wire 2021.

PUB: 12/28/2021 9:15 a.m. / DISC: 12/28/2021 9:17 a.m.

http://www.businesswire.com/news/home/20211228005111/en

Copyright Business Wire 2021.


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For the week of December 27, 2021 – Daily Freeman https://innovativewords.com/for-the-week-of-december-27-2021-daily-freeman/ Sun, 26 Dec 2021 15:01:46 +0000 https://innovativewords.com/for-the-week-of-december-27-2021-daily-freeman/ Andy Mossey (Provided) Andy Mossey will become the new Executive Director of the Woodstock Land Conservancy on January 1. Mossey, who succeeds Maxanne Resnick, joins conservation after seven years working in the non-profit conservation sector, where he focused on stewardship, conservation and community. Mossey’s career orientation has focused on stewardship and conservation issues across the […]]]>
Andy Mossey (Provided)

Andy Mossey will become the new Executive Director of the Woodstock Land Conservancy on January 1.

Mossey, who succeeds Maxanne Resnick, joins conservation after seven years working in the non-profit conservation sector, where he focused on stewardship, conservation and community.

Mossey’s career orientation has focused on stewardship and conservation issues across the country and more locally, in the Catskill Forest Reserve.

Mossey holds a Bachelor of Science in Expeditionary Studies from SUNY Plattsburgh. Initially, working for the national organization Leave No Trace Center for Outdoor Ethics, Mossey and his wife Stephanie visited and worked in forty-six states across the country. Both returned to Ulster County to work on management solutions for the Peekamoose Blue Hole. His work at the Catskill Center has significantly expanded his now widely recognized Catskill Stewards program. He expanded the program from two stewards at one site in 2018 to eight stewards today at four busy Catskills sites.

• • •

Rosa hoag

Rhinebeck Bank has promoted Rosa Hoag to Assistant Vice President, responsible for treasury management relations. It will cover the Bank’s Southern Dutchess County and Orange County markets.

A banking veteran for over 30 years, Hoag previously served as branch manager at Rhinebeck Bank’s Red Hook site since August 2016. In her new role, she will provide business clients with the full range of banking services to clients. business and cash management, including Business Online. Remote banking, deposit capture and credit card processing.

• • •

HOW TO SUBMIT “ON THE MOVE” NEWS: “On the Move” recognizes the professional achievements of local people. Submissions can be emailed with JPEG photos attached to news@freemanonline.com. Please be brief, indicate where the subject will be based, his place of residence (city, town or village) and the name and telephone number of a contact person.


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Bank stocks may struggle to repeat 2021 gains next year, but analysts see grounds for optimism https://innovativewords.com/bank-stocks-may-struggle-to-repeat-2021-gains-next-year-but-analysts-see-grounds-for-optimism/ Fri, 24 Dec 2021 16:18:00 +0000 https://innovativewords.com/bank-stocks-may-struggle-to-repeat-2021-gains-next-year-but-analysts-see-grounds-for-optimism/ Megabanks and regional lenders will benefit from rising interest rates and potential loan growth in 2022, but could be challenged to extend their large stock market gains from 2021. The banking industry faces a tougher regulatory and perhaps economic environment in the new year, but lenders are likely to see their margins increase as central […]]]>

Megabanks and regional lenders will benefit from rising interest rates and potential loan growth in 2022, but could be challenged to extend their large stock market gains from 2021.

The banking industry faces a tougher regulatory and perhaps economic environment in the new year, but lenders are likely to see their margins increase as central banks raise interest rates to fight inflation.

Wall Street’s view has been bullish, with stocks of major financial institutions and regional banks posting strong performances in 2021. As of December 22, Dow components Goldman Sachs GS,
+ 0.71%
and JPMorgan JPM,
+ 0.36%
grew by approximately 45% and 23% respectively in 2021. Wells Fargo WFC,
+ 0.69%
won 59%, Morgan Stanley MS,
+1.06%
increased by about 44%. Citigroup C,
+1.02%
fared less well, with a 3% drop.

The Dow Jones Industrial Average DJIA,
+ 0.55%
is up around 16.7% for the year while the S&P 500 SPX,
+ 0.62%
increased by 24.7%.

With regional banks boosted by record mergers and acquisitions in the industry, the KBW Bank Index BKX is up about 33%.

While it may be difficult to sustain these types of gains in 2022, analysts have found at least a few things to cheer about.

“Big bank stocks have sold and have fallen significantly behind the S&P 500 since the Omicron news was published. Valuations are attractive and should rise as the Fed tightens. ‘


– Vivek Juneja, Banking Analyst, JPMorgan

JPMorgan analyst Vivek Juneja said bank stocks looked healthy for the remainder of 2022, but would likely start the year choppy due to omicron variant issues. The company would then outperform as the Fed focuses on fighting inflation, but the main challenge is whether these stocks will succeed in taming prices without casting cold water on economic expansion.

“Big bank stocks have sold and have fallen significantly behind the S&P 500 since omicron’s announcement,” Juneja said in her Dec. 16 research note. “Valuations are attractive and should rise as the Fed begins to tighten.”

Consumer spending and travel may be held back in the short term by variant issues, but is expected to pick up as COVID-19 trends begin to improve, he added. Other complicating factors include potential credit losses, higher spending on technology and compliance costs, and a “tougher” regulatory environment, he said.

Bank of America BAC,
+ 0.32%
is seen as a larger beneficiary of higher rates, JPMorgan said. US Bancorp USB,
+ 0.43%
is set to benefit from a pickup in airline and travel spending later in 2022, while PNC PNC,
+ 0.41%
will reap short-term benefits from the merger cost savings, as it invests its “large excess cash”.

See also: Improving Credit Outlook, Mergers and Acquisitions, Rising Interest Rates, and Lending Growth Spur Modernization of U.S. Regional Banks

Another potential benefit for banks is credit activity. According to data from the US Federal Reserve, commercial and industrial (C&I) loans were up 1.9% in the fourth quarter from the start at major banks, an improvement from the third quarter.

“If this faster growth in lending continues into 2022, it would be good for banks,” Juneja said. “However, competition from non-banks is expected to remain very intense with rates still relatively low.”

On the regulatory front, President Joe Biden has yet to nominate a candidate for the office of the Comptroller of the Currency after Saule Amarova withdrew his name earlier this month. Another important vacancy is the replacement of Randal Quarles, the Fed’s senior vice president for banking supervision.

Allen Denson, a partner at Strook & Strook & Lavan LLP, said uncertainty on the federal regulatory front could stifle innovation at banks.

“A bank is less likely to introduce a new product if the regulatory environment is unknown,” he said. “Banks prefer stability.

Meanwhile, banks must move towards a change in consumer behavior by investing in technology to provide more online banking services. Banks may also face issues with their loan portfolios if they are exposed to commercial properties affected by a drop in office occupancy rates or a decline in retail activity.

Overall, the Biden administration has indicated it wants to slow bank consolidation and support community banks, in an effort to protect consumers, Denson said.

Climate change issues are also high on the banks’ radar in 2022.

The Office of the Comptroller of the Currency last week released proposed principles that would increase banks’ disclosure of fossil fuel climate risks in lending.

Also read: OCC pressures big banks to expose climate change risks

However, the outlook is different for regional banks and medium-sized banks. Hovde Group analyst Brett Rabatin said the firm had held nearly 20 meetings in recent weeks with institutional investors in the banking sector and most remained bullish on the sector.

Hovde’s regional banking choices include Colony Bankcorp CBAN,
+ 3.00%,
First Bank (NJ) FRBA,
-0.97%,
First Bancorp INBK Internet,
+ 0.07%,
MVB Financial Corp. MVBF,
+ 2.81%
and Sterling Bancorp SBT,
+ 0.82%.
Mid-cap choices include First Merchants Corp. FRME,
+ 0.54%,
Old National Bancorp ONB,
+1.76%
and Veritex Holdings VBTX,
+ 1.73%.

“From our conversations, almost every investor we’ve met believes the space is poised to outperform the broader market again in 2022,” Rabatin said in his Dec. 17 research note. “Probably the most debated topic of conversation was the outlook for loan growth and whether banks will be able to meet their growth targets next year.”

Some investors believe excess liquidity will be drawn before significant growth in commercial loans emerges, while others were more positive and expect strong growth trends in 2022, he said.

See the evaluation game: UBS names Bank of America as first choice in glowing outlook for banking stocks


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Why we need to consolidate digital identity management before zero trust https://innovativewords.com/why-we-need-to-consolidate-digital-identity-management-before-zero-trust/ Wed, 22 Dec 2021 15:37:13 +0000 https://innovativewords.com/why-we-need-to-consolidate-digital-identity-management-before-zero-trust/ The concept of zero trust has been around for almost two decades, but it is only recently that the security model has taken hold and is now one of the hottest trends in cybersecurity. A report from Microsoft found that 90% of security decision makers are now familiar with the concept, up from 20% just […]]]>

The concept of zero trust has been around for almost two decades, but it is only recently that the security model has taken hold and is now one of the hottest trends in cybersecurity. A report from Microsoft found that 90% of security decision makers are now familiar with the concept, up from 20% just a year ago. But adoption remains a challenge as organizations rethink the way they handle identity management.

This rise in popularity is undoubtedly linked to both the growth of enterprise cloud computing and the rise of remote working. Employees are now expected to be able to access their organization’s data from a range of devices, locations and geographies.

Zero Trust is only a piece of the cake
Building a zero-trust architecture requires organizations to identify a so-called “protective surface,” made up of their most important data, assets, applications, and services. A microperimeter is then deployed around the protective surface, forcing users to authenticate each time they pass through it.

Identity and Access Management (IAM) is in many ways the cornerstone of the zero trust architecture. However, thanks to a combination of existing systems, many organizations have complex digital identity structures, with one tool for provisioning and de-provisioning, another for multi-factor authentication (MFA), another for single sign-on. and a fourth for fast smart cards. Authorized access.

Forward-thinking organizations should strive to reduce their overall attack surface by consolidating these structures. Their ultimate goal should be a decentralized identity infrastructure that will allow different organizational systems to accurately match a single user identity.

Such a system would provision, deprovision, instantly and automatically modify access rights, and accurately report on all users in an organization’s digital continuum. It would be supported by robust policies and access rules, as well as modern MFA methods.

Fragmented digital identities pose a security risk
Digital identity – originally a set of technologies designed for industries that process highly sensitive data, such as financial services, government, and the military – is now crucial to how we interact with devices in the world. our personal and professional life. Nowadays, you can log into your online banking using biometrics, access your email with SMS verification, and enter your workplace by swiping an RFID key card. And that’s all before 9 a.m.

Within organizations, the large number of digital identities associated with employees has now in itself become a threat. Having multiple digital identities for each individual multiplies the attack surface for organizations, putting them at greater risk of financial damage and data loss in the event of a breach. This turn of events is somewhat ironic given that the original purpose of these technologies was to improve safety.

Consider the colonial pipeline attack earlier this year. The attackers reportedly entered the organization’s systems through an employee’s VPN account that was no longer in use but still active. The employee in question had used the same password several times, and thanks to a completely independent leak, the password in question was part of a lot for sale on the Dark Web.

Looking back – which is admittedly still 20/20 – if automatic account deprovisioning had been in place or a corporate single sign-on solution deployed, it looks like one of the most dangerous attacks in the history of United States could have been avoided. If that’s not a reason to favor strong digital identity management, then I don’t know what it is!

Amid a growing number of cyber attacks, it’s hard to overstate the scale of the digital identity challenges organizations currently face. Of course, the immediate priority for IT managers should be securing systems, data and users right now. At the same time, however, the case for establishing a more effective digital identity paradigm is clear. This would include a holistic solution for digital identity management and governance, the ability to manage identity governance, authentication verification and assurance, and simple, password-less user access and authentication. past. This setup should be the end goal for most businesses.


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These top startups are currently hiring for remote positions https://innovativewords.com/these-top-startups-are-currently-hiring-for-remote-positions/ Mon, 20 Dec 2021 19:00:54 +0000 https://innovativewords.com/these-top-startups-are-currently-hiring-for-remote-positions/ LeoPatrizi / Getty Images Working in a startup can be exciting – you may gain insight into how a business is going and may even be able to participate in shaping its evolution. And thanks to the growing popularity of remote working, many of the country’s top startups are hiring for positions that don’t require […]]]>

LeoPatrizi / Getty Images

Working in a startup can be exciting – you may gain insight into how a business is going and may even be able to participate in shaping its evolution. And thanks to the growing popularity of remote working, many of the country’s top startups are hiring for positions that don’t require you to go to an office.

See: 22 Side Gigs That Can Make You Richer Than a Full Time
More Options: 11 Best Profitable Side Shake Ideas: Earn More

Using LinkedIn’s list of top startups, FlexJobs identified 20 emerging startups that are currently hiring for remote work. If your ideal job is to work at a startup, wherever you are, consider applying for a job at one of these companies.

Attentive

  • What it is: Attentive is an SMS marketing company.
  • Open remote roles: Client strategy attaché, visual designer, sales advisor

Check Out: The 8 Best Side Rushes For Gen Z

Brex

  • What it is: Brex is an all-in-one financing solution for businesses.
  • Open remote roles: Data Science Manager, People Product Designer, Strategic Financial Analyst

Cameo

  • What it is: Cameo allows you to purchase personalized celebrity videos.
  • Open remote roles: Corporate account manager, senior data scientist, full stack engineer

See: 45 jobs that can make you a millionaire before retirement

Catalyst

  • What it is: Catalyst is a platform for customer success.
  • Open remote roles: Backend engineer, senior product manager, customer manager

Discord

  • What it is: Discord is an online dating platform.
  • Open remote roles: Senior Data Scientist, Staff Software Engineer, Senior Inventory Administrator

Options: Companies that let you work from anywhere

Derivative

  • What it is: Drift is a revenue acceleration platform.
  • Open remote roles: Account manager, business value advisor, sales manager

Dutch

  • What it is: Dutchie is an online platform for ordering cannabis from your local dispensary.
  • Open remote roles: Content Department Representative, Implementation Strategist, Senior Mobile Engineer

GitLab

  • What it is: GitLab is a DevOps platform.
  • Open remote roles: UX researcher, revenue accountant, lifecycle marketing manager

To verify: 40 legitimate businesses that will pay you to work from home

Gong

  • What it is: Gong is an AI-powered revenue intelligence platform designed to help sales teams and leaders.
  • Open remote roles: Accounts receivable and collection manager, corporate account manager, G&A recruiter

Sauce

  • What it is: Gravy is a tool for customer retention and recovery of failed payments.
  • Open remote roles: Vice President of Marketing, Head of Customer Success, Senior Director of Sales Operations

Guild

  • What it is: An education and development platform
  • Open remote roles: Customer service director, learning designer, cloud security engineer

Looked: High-paying jobs at Apple, Facebook, and Google that don’t require a degree

Hinge health

  • What it is: A provider of digital physical therapy for people with musculoskeletal issues
  • Open remote roles: Physiotherapist, nurse case manager

Jerry

  • What it is: Jerry is an online auto insurance comparison and purchase platform.
  • Open remote roles: Automotive Content Editor, Freelance Writer, Online Chat Agent

Lyra Health

  • What it is: A provider of mental health services
  • Open remote roles: Chief Product Designer, Telemedicine Physician, Director of Partnerships

Medable

  • What it is: A decentralized clinical trials platform
  • Open remote roles: Videographer, copywriter, back-end developer

Find: the 26 highest paying jobs that let you work from home

MikMak

  • What it is: MikMak provides marketing analysis and e-commerce activation software.
  • Open remote roles: Vice President of Account Management, Director of Product Marketing, Director of Corporate Sales

Outside voice

  • What it is: Outdoor Voices is a brand of leisure clothing.
  • Open remote roles: Senior Commodity Planner

Ramp

  • What it is: A company card and an expense management platform
  • Open remote roles: Solutions engineer, risk operations manager, community manager

Section

  • What it is: Rubrik is a data security provider.
  • Open remote roles: Software Engineer, Senior Revenue Accounting Manager, Technical Account Manager

Ladder

  • What it is: A data platform for AI
  • Open remote roles: Data labeling linguist

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About the Author

Gabrielle joined GOBankingRates in 2017 and brings with her a decade of experience in the journalism industry. Prior to joining the team, she was a reporter for People Magazine and People.com. Her work has also appeared on E! Online, Us Weekly, Patch, Sweety High and Discover Los Angeles, and she was featured on “Good Morning America” ​​as a celebrity news expert.


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