Mon.Aug 19, 2024

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ICX Summit: Customer feedback paramount to brands' success

ATM Marketplace

Customer feedback is crucial for retail and restaurant success, driving improvements in products and services based on customer preferences. Learn innovative strategies on gathering and utilizing customer insights from industry experts at the Interactive Customer Experience Summit in Charlotte this September.

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Mastercard to cut 1,000 employees in restructuring

Payments Dive

The card network is shrinking its workforce as it restructures the company to focus more resources on some international markets.

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How Loan Compensation Can Lead to Underperformance

South State Correspondent

Charlie Munger said, “Show me the incentive and I’ll show you the outcome.” That is exactly what is happening in the community bank industry. Unfortunately, bank managers often give their lenders misguided loan compensation, resulting in suboptimal outcomes. In Q2/24, community banks (those under $10B in assets) were able to expand net interest margin (NIM) by 3bps but experienced a 12bps reduction in return on equity (ROE).

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Visa-Mastercard settlement claims deadline postponed

Payments Dive

Merchants seeking a piece of the $5.5 billion settlement now have until February 2025 to file claims, a federal judge overseeing the class action said.

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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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FFIEC compliance: Ensuring access to suitable resources for effective BSA management

Abrigo

A strong BSA prog r am starts with FFIEC compliance Building a robust BSA program means having access to the staffing and resources you need. Learn how the FFIEC manual can help you make the case for more resources to your board. You might also like this podcast, "Ensuring access to the FFIEC’s suitable resources at your financial institution: What BSA compliance officers need to know.

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More Trending

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Gen AI reduces agent response time by 70% at Discover

BankInovation

Discover Financial Services is tapping generative AI to speed up call center agent response and strengthen client experience. Using Google Cloud’s AI platform, Vertex AI, Discover has reduced response times for call center agents by 70%, Szabolcs Paldy, senior vice president of enterprise operations at Discover, told Bank Automation News.

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Adyen collects more US customers

Payments Dive

The Dutch payments service provider is gaining traction in the U.S. market as it adds to its client roster, including big U.S. retail names such as Crate & Barrel.

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WSPN raises USD 30 mln to build next-gen stablecoin network

The Paypers

Worldwide Stablecoin Payment Network (WSPN) has secured USD 30 million in seed funding to to redefine the future of digital payments with Stablecoin 2.0.

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Deal in New Mexico lifts credit union-bank merger tally to 14

American Banker

U.S. Eagle Federal Credit Union said it plans to acquire Southwest Capital Bank in a transaction slated to close next year. It would help the buyer expand its cannabis banking operation.

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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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If UK bank bosses demand uncapped bonuses then salaries must fall | Nils Pratley

TheGuardian

Barclays was first to formally lift the cap imposed by the EU but the balance between fixed and variable pay has to be addressed The EU cap on bankers’ bonuses – now ditched in the UK – was misnamed because it didn’t actually limit the size of anybody’s bonus. Rather, it capped bonuses as a ratio of an individual’s fixed pay – at 1:1, or 2:1 with the approval of shareholders.

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Circle introduces USDC contactless payments on iPhones

The Paypers

Fintech company Circle , the issuer of the USDC stablecoin, has set out to introduce a feature that will enable contactless payments using USDC on iPhones.

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The cost of good data is high; the cost of bad data is ruinous

American Banker

It has never been more important for banks, particularly those over $10 billion of assets, to establish ironclad data quality, governance and control standards. The failure to do so will have cascading negative consequences.

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Chaos Labs secures USD 55 million to upgrade Defi risk management

The Paypers

Chaos Labs has secured USD 55 million in a Series A funding round to upgrade its on-chain risk management platform for decentralized finance (DeFi).

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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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What Mastercard's layoffs reveal about the fate of payment revenue

American Banker

The job reductions come as the card network focuses on emerging markets, artificial intelligence and other nascent technology over transaction volume.

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FusionIQ and interVal partner to boost financial advisors' growth

The Paypers

US-based fintech FusionIQ has partnered with wealthtech provider interVal to expand technology solutions for financial advisors.

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'We need to address this now': Experts push quantum-safe cryptography

American Banker

Even as quantum computers still can't break encryption, the banking industry has been preparing for more than a year to start switching to post-quantum cryptography.

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CFPB releases comment on AI in the financial sector

The Paypers

The Consumer Financial Protection Bureau (CFPB) has released a comment regarding the uses, capabilities, and risks associated with artificial intelligence (AI) in the financial services industry.

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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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Fed eyes transmission risk from stablecoins, non-banks

American Banker

Federal Reserve Gov. Christopher Waller says the central bank is tracking research on financial stability risks related to payments, as well as blockchain and crypto developments.

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Doo Payment obtains independent remittance licence

The Paypers

Doo Payment has been granted an independent remittance licence by the Australian Transaction Reports and Analysis Centre (AUSTRAC).

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New wave of challenges to CFPB's funding gains steam

American Banker

Four companies are fighting CFPB enforcement actions by claiming the agency cannot be funded by the Federal Reserve, which has not been profitable since 2022. The consumer bureau calls the new legal theory "meritless.

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Revolut secures secondary share sale at USD 45 bln valuation

The Paypers

Revolut has entered into agreements with several technology investors to facilitate a secondary share sale, which values the company at USD 45 billion.

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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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Nicole Lorch helped bring digital-first banking to the U.S. 25 years later, she's seen major changes as the industry embraced the internet: The Climb

American Banker

Lorch started as the marketing director at First Internet Bank, the first online-only bank, at its launch. Few Americans had internet access so it wasn't a sure bet the bank would survive. She's still there, now as the president.

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FIRS to launch bill revamping tax system and regulating crypto

The Paypers

The Nigerian Federal Inland Revenue Service (FIRS) has set out to introduce a bill aimed at overhauling the tax system, including crypto regulation.

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7 Fintech Trends Banks Should Be Watching Now — plus 8 More to Anticipate

The Financial Brand

This article 7 Fintech Trends Banks Should Be Watching Now — plus 8 More to Anticipate appeared first on The Financial Brand. Bank trend spotters must weigh new wrinkles among the 'usual suspects' but must also pinpoint tomorrow's opportunities. This article 7 Fintech Trends Banks Should Be Watching Now — plus 8 More to Anticipate appeared first on The Financial Brand.

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Amazon Pay to be moved into a standalone app in India

The Paypers

US-based multinational technology company Amazon has been considering transferring its payment offerings in India into a standalone app to increase regional usage.

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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.