Wed.Jul 24, 2024

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Here is The Math Behind the High-Yield Account

South State Correspondent

There have been many a banker who has said they want to offer a high-yield account because the “higher interest expense is just like paying marketing costs.” This banker may even be thinking of starting a completely new digital bank using a high-yield account as its flagship product. The logic that “rate sells itself” is true.

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Fiserv to leverage artificial intelligence to help merchants

Payments Dive

The payments behemoth says its data team will use AI to mine transactions on its products to help merchants and financial institutions profit.

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Revolut finally receives UK banking licence after three-year wait

TheGuardian

Move paves way for fintech firm to hold customers’ deposits and offer own-branded loans, including mortgages Revolut has secured a UK banking licence – with “restrictions” – more than three years after Britain’s most valuable fintech firm lodged its application with regulators. It is a milestone for the company, though it may still be some time before it can hold its customers’ deposits.

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Visa CEO ‘strongly’ disagrees with class settlement ruling

Payments Dive

The card network giant expects the parties to negotiate a new settlement following a judge’s rejection of an agreement reached earlier this year, but its CEO notes that could happen after a trial begins.

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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 JPMorgan Chase is prepping for Q Day

American Banker

The bank is developing algorithmic models that will be ready to take advantage of quantum computers when they become powerful and reliable enough to use. It's also taking steps to defend itself against the day cybercriminals can harness quantum computing to break the encryption protocols everyone uses.

More Trending

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Surge in counterfeit checks prompts outcry from small community banks

American Banker

A rising number of check fraud cases involving counterfeit checks is compounding the already-serious problem of fraud in one of the oldest payment methods widely available.

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DB and Santander controlling costs through tech

BankInovation

Deutsche Bank and Santander Bank are deploying tech to simplify operations and cut costs, according to their earnings reports. Santander reported today that it saved 77 million euros ($83.6 million) in the second quarter through its global operations by deploying technology, and has saved $341 million since 2022, according to its earnings report.

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Suni Harford, former president of UBS assessment management's exit interview: The Climb

American Banker

After 40 years in finance, Harford is now learning to play golf and mahjong, and spending more time with family and friends.

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PayEye and Worldline partner to launch biometric technology

The Paypers

Worldline has signed an agreement with PayEye to develop and launch payment services based on biometric technology.

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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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ACNB in Gettysburg to acquire Pennsylvania peer Traditions Bancorp

American Banker

The $73.5 million all-stock deal, slated to close early in 2025, would create a bank with more than $3 billion of assets.

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The Glances Effect: A Digital Transformation Story

Realwired Appraisal Management Blog

Riverstone Bank is struggling. Their efficiency ratio declining. Expenses as a percentage of revenue are increasing to an uncomfortable level. The fix – digital transformation with simplified integrations. Data is the new oil, but connecting to siloed legacy platforms is the pipe.

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New York Community leans on CEO's connections as it revamps leadership

American Banker

The embattled Long Island-based bank announced the hiring of nine new senior executives. Most of them have ties to CEO Joseph Otting, who previously held the top job at the OCC and OneWest Bank.

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ACNB to purchase Traditions Bancorp

ABA Community Banking

ACNB in Gettysburg, Pennsylvania, has agreed to buy Traditions Bancorp in York, Pennsylvania. The deal is expected to close in the first quarter. The post ACNB to purchase Traditions Bancorp appeared first on ABA Banking Journal.

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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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The CFPB's earned wage access rule is misguided and disappointing

American Banker

The Consumer Financial Protection Bureau reversed itself, declaring that earned wage access programs, which conduct no underwriting and charge no interest, are loans. This is a disservice to the industry and consumers.

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First Abu Dhabi Bank joins forces with Visa

The Paypers

US-based payment card services corporation Visa has entered a collaboration with First Abu Dhabi Bank (FAB) to provide the Visa B2B Connect network in the region.

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FDIC's Hill pushes Basel reproposal, expanded brokered deposits

American Banker

Federal Deposit Insurance Corp. Vice Chair Travis Hill has called for a full reproposal of the Basel III endgame capital standards, emphasizing the need for joint advancement by all three major federal banking agencies and an additional comment period for industry feedback.

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UK neobank Sokin secures investment from Morgan Stanley

The Paypers

Investment funds managed by Morgan Stanley Expansion Capital have acquired a stake in UK-based payments neobank Sokin.

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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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Block to refocus Cash App; stablecoin pay expands

American Banker

The payments company is pulling Cash out of the U.K. as it tries to expand the peer-to-peer app in the U.S.; firms in Hong Kong and Australia try to make stablecoin transactions global; and more.

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Acima initiates proceedings against CFPB's regulatory overreach

The Paypers

Lease-to-own solutions provider Acima , a subsidiary of Upbound , has announced its decision to file a lawsuit against the US Consumer Financial Protection Bureau (CFPB).

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Santander Lifts Revenue Goal as Botin Sees Efficiency Gains

American Banker

The Spanish bank recorded its best efficiency ratio in 15 years, Chairwoman Ana Botin said in its quarterly earnings statement.

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UniCredit acquires Vodeno and Aion Bank

The Paypers

Italy-based international banking group UniCredit has announced its intention to acquire the entire share capital of Vodeno Sp. z o.o. and Aion Bank NV/SA.

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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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Understanding Social Media Advertising: Boosting vs. Paid Advertising

Image Works Direct

Using social media effectively is important for successful marketing, but the ever-changing terminology can make it hard to know if you’re being as effective as possible. Read more to learn about the two primary forms of marketing on Facebook, Instagram and LinkedIn: boosting and paid advertising. Then you’ll better understand their distinct roles in your social media strategy!

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SplitMetrics finds UK neobanks to surpass legacy banks by Q1 2025

The Paypers

SplitMetrics has found that UK neobanks are on track to surpass UK legacy banks in lifetime Android app downloads by the start of 2025.

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If Customers Don’t Trust Your Ads, They Won’t Trust You

The Financial Brand

This article If Customers Don’t Trust Your Ads, They Won’t Trust You appeared first on The Financial Brand. In banking, trust isn't just an asset — it's the foundation of lasting success. This article If Customers Don’t Trust Your Ads, They Won’t Trust You appeared first on The Financial Brand.

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Clio secures USD 900 million investment

The Paypers

Global legal technology provider Clio has announced that it secured a USD 900 million investment, based in a USD 3 billion valuation, in a Series F round.

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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.