Fri.Sep 29, 2023

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3 Ways Generative AI Will Transform Banking

Accenture

One year after ChatGPT’s public launch, generative AI is probably still the hottest topic in the world of business—and with good reason. Research suggests gen AI could add almost $7 trillion to global GDP. So what, exactly, will gen AI mean for banks? Much of the conversation today around the technology generates more heat than… The post 3 Ways Generative AI Will Transform Banking appeared first on Accenture Banking Blog.

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How Blackhawk Network quit PVC cards

Payments Dive

“There's a huge, huge upside” for the environment every time a gift card is made from paper instead of PVC plastic, Blackhawk Network Senior Vice President Cara Renfroe said in an interview last week.

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Dreamforce Takeaways for Financial Services: Finance Top 5

Perficient

Dreamforce 2023 is the largest and most anticipated Salesforce event of the year. It’s a place where Trailblazers from all over the world come together to learn, network, and be inspired. One of the key themes of this year’s conference was the future of finance. Salesforce CEO Marc Benioff and others talked about how AI is transforming the finance function and how Salesforce is helping finance leaders achieve their strategic priorities.

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Supreme Court to consider debit fee case

Payments Dive

The U.S. Supreme Court agreed to hear the petition of a North Dakota merchant group that sued over the Federal Reserve Board’s calculation of a debit fee cap.

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Fall In Love With the Month-End Close

It's the time of year to give our close process some TLC. Join us in this one hour webinar where we discuss how to adopt leading practices and infuse technology into the month-end close process to improve our experience and increase our productivity during month-end and quarter-end close. Learning Objectives: This course's objective is to understand how the month-end close can be improved with automation and adoption of leading practices.

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How crypto ATMs are revolutionizing retail

ATM Marketplace

Crypto ATMs are driving traffic to convenience stores due to offering convenient access to cryptocurrency.

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CFPB Releases Updated 1071 Small Business Lending FAQs

CFPB Monitor

On September 14, 2023, the CFPB released Frequently Asked Questions (FAQs) regarding the Small Business Data Collection Rule (the “Rule”). These FAQs are in addition to the set published in June 2023, which are dated. Some, but not all, of the FAQs are discussed below. Covered Credit Transactions A few of the updated FAQs relate to the definition of a “covered credit transaction,” which includes the following topics: Consumer-designated credit: The FAQs reiterate that consumer-designated credit

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4 Ways Digital Transformation Has Improved PFM

Jack Henry

With so much to gain, it’s a great time to reconsider how today’s personal financial management tools can help support your mission of financial advocacy.

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South Africa's Scan to Pay app expands with crypto payments partnership

The Paypers

Scan to Pay , in partnership with Xion Global , has announced the expansion of its payment options within the Scan to Pay app to include cryptocurrency payments for South Africans.

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9 companies investing more in small-business payments

American Banker

With worries about inflation and the economy, fintechs and banks sense an opportunity for new technology that speeds transactions and slices overhead.

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5 Ways You Can Win Faster with Gen AI in Sales

Incorporating generative AI (gen AI) into your sales process can speed up your wins through improved efficiency, personalized customer interactions, and better informed decision- making. Gen AI is a game changer for busy salespeople and can reduce time-consuming tasks, such as customer research, note-taking, and writing emails, and provide insightful data analysis and recommendations.

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Discover tests generative AI for internal purposes

BankInovation

Discover Financial Services is keeping customer needs and compliance at the forefront as it tests uses for generative AI. “We have to understand what is hype versus what is reality.

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What bankers need to know about the government shutdown

American Banker

Flood insurance could hold up some home sales and lending, while major bank regulatory agencies will remain funded even if the government is unable to pass a funding bill before funding runs out Sept. 30.

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Citizens to roll out 30 commercial banking products by Q2 2024

BankInovation

Citizens Bank expects to roll out 30 projects in the next nine months as it ramps up generative AI, automation and virtual assistant offerings. By the second quarter of 2024, the $222 billion, Providence, R.I.

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Savings experts say UK rates could soon fall. Here’s where to invest while you can

TheGuardian

The top-paying accounts that may be worth a look before they start to disappear It could be “grab them before they’re gone” time when it comes to some of the top-paying savings accounts, assuming that UK interest rates are now at or near their peak. There are accounts on offer paying more than 6% but some savings experts said this week that those thinking of signing up may want to get a move on, as the very best deals may not be around for much longer.

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The Role of Automation in Commercial Lending

Automation is changing the game for commercial lenders, offering a clear path to competitive advantage in 2025. Rising costs, outdated workflows, and manual data entry slow growth and impact borrower satisfaction. Automation addresses these challenges, reducing costs, speeding up loan cycles, improving accuracy, and elevating borrower experiences. With market uncertainty easing, now is the time to act—waiting until loan volumes rebound leaves lenders unprepared and struggling to compete.

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MGM cyber attacks, VR onboarding: Top banking news for September 2023

American Banker

In September's roundup of top banking news: Truist Financial promises to cut costs by roughly $750 million; former Wells Fargo exec Carrie Tolstedt is sentenced to three years probation; and more.

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Shufti Pro partners with Aconomy

The Paypers

ID verification solution provider Shufti Pro has partnered with Aconomy to offer users a secure real-world asset-backed DEX.

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California could complicate banks' climate reporting obligations

American Banker

The Golden State appears poised to preempt the Securities and Exchange Commission by enacting rules that would require larger firms to make detailed disclosures about their greenhouse gas emissions. Banking groups are concerned that the state regime won't align with federal rules.

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Shift4 partners with Amazon

The Paypers

US-based integrated payments firm Shift4 has partnered with Amazon in order to deliver customers a checkout-free shopping experience at stadiums and arenas.

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10 Ways to Leverage Buyer Signals and Drive Revenue

In today’s ultra-competitive markets, it’s no longer enough to wait for buyers to show obvious signs of interest. Instead, sales teams must be proactive, identifying and acting on nuanced buyer behaviors — often before prospects are fully ready to make a purchase. In this eBook from ZoomInfo & Sell Better, learn 10 actionable ways to use these buyer signals to transform your sales strategy and close deals faster.

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Apple Wallet shows UK bank balances | Mercedes Pay turns cars into payment tools | Meta eyes AI, smart glasses for metaverse boost

Bussman Advisory

Join our community of 50,000+ subscribers and stay informed on the latest trends and news in the FinTech & AI world with the weekly newsletter provided by Bussmann Advisory. Gain insights into disruptive technologies, industry updates, and success stories from our portfolio companies. This week’s must-know stories: Apple Wallet’s UK Integration: Apple Wallet app can now show current account balances from UK banks Apple is introducing a new feature in its iPhone Wallet app, le

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Types of Commercial Loans

Commercial Lending USA

Types of commercial loans: There are several alternative commercial loan options available to businesses beyond traditional bank loans.

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Bank earnings to shine spotlight on loan charge-offs

American Banker

Commercial real estate borrowers, including vulnerable office tower landlords, are increasingly struggling to make payments and, as a result, more lenders are expected to report higher credit costs.

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Genpact Integrates riskCanvas with Amazon Bedrock

The Paypers

US-based digital transformation company Genpact has expanded its collaboration with Amazon Web Services (AWS) to augment financial crime risk operations with AI and LLM.

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Outsource With Confidence for RDC Program Success

Remote Deposit Capture (RDC) clients are more likely to use additional treasury services and maintain larger deposits. However, poor customer experiences—particularly if they delay deposits—can compel RDC clients to take their business elsewhere. This eBook makes the case for outsourcing RDC operations to a proven managed services partner. This approach helps Treasury Departments with limited resources provide excellent client experiences that result in higher retention and productivity rates.

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Fincen announces Shinhan Bank America will pay $15M for BSA Violations

American Banker

Shinhan Bank America faces a $15M penalty for willful BSA violations linked to inadequate BSA/AML monitoring that the Financial Crimes Enforcement network said enabled tax evasion, corruption and money laundering to flow through the institution.

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Fireblocks acquires BlockFold

The Paypers

US-based cryptocurrency custody company Fireblocks has bought BlockFold , a smart contract development and consulting company, to enrich its tokenization capabilities.

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Banks beware: Why one ransomware victim decided to pay up

American Banker

In a Wednesday Congressional hearing, an assistant superintendent explained why her school district decided to pay a ransom to cyber criminals. It's a cautionary tale for banks, which are often targets.

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Network International partners with Codebase Technologies

The Paypers

Digital banking tech provider Codebase Technologies has announced a partnership with digital commerce enabler Network International to launch a Banking-as-a-Service (BaaS) solution in the Levant region.

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Signal-Based Selling: How to Leverage 4 Key Buying Signals

As prospects define their problem, search for solutions, and even change jobs, they are generating high-value signals that the best go-to-market teams can leverage to close more deals. This is where signal-based selling comes into play. ZoomInfo CEO Henry Schuck recently broke down specific ways to put four key buying signals into action with the experts from 30 Minutes to President’s Club.