Payments Dive
JUNE 25, 2024
On Tuesday, Judge Margo Brodie denied a preliminary settlement proposal made by the card networks Visa and Mastercard, and merchants who sued them in federal court nearly two decades ago.
Accenture
JUNE 27, 2024
Ella Fitzgerald was one of the first, in the ‘30s, to have a hit with the song ‘Ain’t What You Do, It’s the Way That You Do It’. The fact that legions of musicians have and continue to record it tells me there’s a universal truth there that most people recognize. This is certainly the… The post Five key success factors for commercial banks to scale generative AI appeared first on Accenture Banking Blog.
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Accenture
JUNE 24, 2024
Following the release of our new report, “The age of AI: Banking’s new reality”, I sat down with my team to discuss how generative AI is reshaping the banking industry. It sparked an interesting conversation about current adoption journeys, strategic priorities, and the exciting possibilities ahead for banks. I thought I’d share some of the… The post The impact of generative AI in banking appeared first on Accenture Banking Blog.
Perficient
JUNE 25, 2024
On June 6, Acting Comptroller of the Currency, Michael J. Hsu, addressed the 2024 Conference on Artificial Intelligence (AI) and Financial Stability, providing critical regulatory insights on AI. Hsu discussed the systemic risk implications of AI in banking and finance using a “tool or weapon” approach. He noted that while both tools and weapons pose threats to financial stability, they do so in different ways, necessitating distinct analyses.
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Discover First Mid Bank's Expansion Success with Our Case Study! Discover how First Mid Bank & Trust fast-tracked market expansion through advanced automation and compliance solutions. This case study reveals their journey from facing challenges in Texas' complex legal landscape to achieving rapid market entry with GoDocs' innovative commercial closing platform.
South State Correspondent
JUNE 20, 2024
Banks don’t have enough product managers. A bank has a leader for a business line but usually only caretakers for products. A manager may oversee the operation of a product, but few banks have product managers who drive product development and performance. As a result, bank performance suffers. The magical equation is more profitable products to more profitable customers, and one way to positively influence this formula is to make more profitable products.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Dive
JUNE 24, 2024
The persistence of the networks’ ‘honor all cards’ rule may be a key reason Judge Margo Brodie is unlikely to approve a negotiated resolution of the two-decade-old case brought by merchants.
BankInovation
JUNE 25, 2024
Point-of-sale financing as an alternative payment method is a growing opportunity for lenders, technology company Pagaya’s President Sanjiv Das says on this episode of “The Buzz” podcast. According to auto lender and Pagaya partner Ally Financial, POS financing is expected to reach a value of more than $81 billion by 2030.
Commercial Lending USA
JUNE 24, 2024
Time is significant in the fast-paced world of commercial real estate. But what do you do when a great chance comes up but your stable bridge lending solutions still need to be implemented?
American Banker
JUNE 25, 2024
General Motors' financial arm has halted its quest for an industrial loan company charter from the FDIC, but is signaling that it will try again. Observers said the automaker may wait until after the presidential election to decide how to move forward.
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Shifting liability for digital fraud losses represents a significant challenge for financial institutions and payment service providers. In response to the global surge in digital fraud, regulators are introducing policies that transfer the cost of fraud from defrauded customers to financial institutions. ThreatMark’s newly released white paper, "The Liability Shift: Understanding Fraud Losses Responsibility and Mitigation," provides an in-depth analysis of this shift, its implications, and stra
Payments Dive
JUNE 26, 2024
Analysts say American Express wants to cash in on the restaurant industry’s success and give customers admission to hard-to-access premium experiences.
TheGuardian
JUNE 24, 2024
Investigation finds funds touting ethical credentials include fast fashion labels and fossil fuel companies Fast fashion labels, fossil fuel companies and SUV-makers are present in EU-regulated “sustainable” funds that tout their ethical credentials in their names, the Guardian and media partners can reveal, with $18bn (£14bn) of their investments going to the 200 biggest polluters.
BankInovation
JUNE 20, 2024
Morgan Stanley’s Jeff McMillan, head of firmwide artificial intelligence, is focused on developing and deploying AI throughout the operations of the $212 billion financial institution. The New York-based FI appointed McMillan to the newly created position March 14, he told Bank Automation News.
Jack Henry
JUNE 24, 2024
Growing and replacing deposits is a top priority for U.S. banks and credit unions: 72% of bank CEOs and 44% of credit union CEOs say growing deposits is paramount.
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Most people dread the nearing of the month-end close and reconciliation process, and who can blame them? It's typically a tedious, long, stressful process; but it doesn't have to be. Implementing automation into your month-end process can significantly reduce this headache by automating up to 40% of your reconciliation and saving nearly 30% of your time spent.
American Banker
JUNE 20, 2024
"We're in an era of instant gratification, where we're not compared to other financial institutions, but rather to companies like Amazon, Apple, Google and Facebook," says Chief Technology Officer Sandeep Uthra.
Payments Dive
JUNE 26, 2024
The team behind the bank’s CashPro app aims to stay a step ahead of rivals, including with payment approval features.
Cisco
JUNE 24, 2024
Cisco Live 2024! The event brought together 21,000 industry leaders and technology enthusiasts. This year we had the opportunity to share how our customers can accelerate digital transformation, fortify tech infrastructures, and enhance observability and vulnerability management for financial institutions.
BankInovation
JUNE 25, 2024
Nvidia is spearheading the AI industry’s growth with its latest data centers focused on developing and deploying models for the financial services industry.
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In this report, you’ll find a comprehensive analysis of survey responses from executives at banks, credit unions, and insurance companies concerning their organization’s current and future use of automation. The report’s key insights include: Which types of automation are saving organizations the most time and money How to overcome the biggest barriers to automation implementation and adoption Why automation investments will continue to grow over the next few years How much you could save in 202
Jack Henry
JUNE 25, 2024
The future of Enterprise Content Management (ECM) is upon us. In order to get the most out of the new technology and processes, you must take your legacy data and reinvent it. You won’t need any plutonium, a flux capacitor or Doc Brown to correct the data of the past. Here are some things you can do now to explore your past data and blaze into the future with your ECM data archives.
American Banker
JUNE 25, 2024
Investors are keeping a close eye on recent banking news, including Mastercard's latest plan for crypto, Comerica's proposed settlement of a class action, employment gains and skeptical shareholders.
Payments Dive
JUNE 25, 2024
The short-term financing option, which already costs more than cards for merchants, will eventually retreat from daily purchases, Priority CEO Tom Priore predicted.
TheGuardian
JUNE 20, 2024
Four years after the pandemic, firms say rising costs mean they need longer to pay back money from the government Jess Christman, who runs a Scottish timber business, recalls that banks were “throwing money” at him during the Covid-19 pandemic as Rishi Sunak, then the chancellor, sought to help small companies stave off collapse. Christman, who runs Black Isle Firewood, near Inverness, which produces firewood and sawn timber and huts for the tourism market, ended up taking out a government-backe
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As we step into 2024, the lending landscape evolves rapidly with technology, regulations, and market dynamics driving change. For banks and financial institutions to stay competitive and meet the evolving needs of their customers, these drivers must be understood and engaged with. Lenders can anticipate significant transformation fueled by technological advancements, regulatory shifts, and changing consumer behaviors.
BankInovation
JUNE 26, 2024
Investment firm FTV Capital is expanding its European presence with a London office. The London team of six, led by Richard Earnshaw, will “work on deals in collaboration with FTV’s U.S.
The Paypers
JUNE 20, 2024
Digital payments company WSPN has partnered with DigiFT , an on-chain exchange for real-world assets (RWA), to advance stablecoin adoption and Web3 solutions globally.
American Banker
JUNE 25, 2024
Ransomware group LockBit threatened on Sunday to publish the stolen data Tuesday evening. Ransomware experts said it was likely that the group was bluffing.
Payments Dive
JUNE 27, 2024
Community banks partnered with Alloy Labs and Payrailz a few years ago on a project called Chuck, in a bid to rival Zelle, but that effort has been subsumed by a stealthy successor.
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Dive into the complexities of New York lien laws with our comprehensive eBook, 'New York Lien Law Essentials: 5 Key Facts for Commercial Lenders.' In this detailed guide, we explore the critical formalities necessary for lenders navigating ground-up construction and fix-and-flip projects in the New York market. From documentation requirements to the implications of non-compliance, learn how to safeguard your lending position and prioritize legal adherence.
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