Weekly Coffee Break: Roundup of Industry News

Weekly Coffee Break: Roundup of Industry News

Weekly Roundup of Industry News

Every week, we’ll share a roundup of industry news links because these resources have informed and inspired us.

Here’s our weekly roundup of industry news:

3 moves to boost your odds of an early retirement – Let’s start with the facts: Most Americans likely will have a hard time retiring on time, let alone early.

For starters, the average retirement account balance for U.S. households ages 50 to 64 is $150,000 — and the median is only $12,000 — according to a report from The New School. Nearly a third of families have no savings at all, the study found.

Which Big Banks Would Suffer Most If Rates Fell Below Zero? – For the first time, the Fed this year is requiring banks subject to stress tests to show how they would cope with the possibility of rates dipping into negative territory. Analysts say they will be keeping close watch on custody banks, asset-sensitive regionals and banks with little overseas exposure.

Exeter’s System Upgrade to Aid Compliance – Exeter Finance Corp. will begin tests of Shaw Systems Associates’ latest servicing system — a proprietary software the firm has used in the past — sometime in the third quarter, according to Exeter’s Chief of Operations Brad Martin. The new version, called Shaw 5.4.1, will give the company tighter control over regulatory procedures, Martin told AFN.

What Can Banks Offer in the Debate Over Digital Identity? – Most people, if they thought about it, would admit the way digital identity is managed in the U.S. is suboptimal. Those truly in the know find much stronger words.

“We’ve been using this cobbled-together identity system,” Karen Gifford, special adviser to the payments tech provider Ripple and to the startup global ID, said Monday at American Banker’s Digital Banking 2016 conference here.

Biggest developments in fintech in 2016 – To get to grips with one of the 21st century’s biggest changes in digital – especially in regards to finance and investment – is no easy task for any business. Startups, SMEs and even multi-national corporations have discovered that it (literally) pays to explore these new methods of acquiring business and boosting revenue.

The Internet of Things in retail banking – The Internet of Things (IoT) has gained a considerable amount of hype as the “Next Big Thing” to change the world as we know it. Applications of IoT are thought by some to be limited only by the human imagination. From simply controlling your home (e.g. – lights, thermostat, etc.) with a smartphone, to life saving medical and healthcare systems, IoT is pervasive and growing rapidly.