Thu.Mar 14, 2024

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Banking apps fall short on fraud protections: report

Payments Dive

Consumer Reports Senior Director Delicia Hand said preventing fraud and scams is "crucial" for traditional and digital banks alike, as more of their customers use their mobile apps.

Fraud 459
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Solve This Problem with Your Strategic Horizon

South State Correspondent

When it comes to bank planning, your strategic horizon has a huge influence on your success. Recently, we published a piece urging banks to set their strategic planning horizon out longer ( HERE ). We were inundated with questions and opinions. Our overarching point was that banks underperform, in part, because their strategic planning time horizon is too short.

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Visa teams with SAP’s Taulia on embedded payments

Payments Dive

The card network giant wants to simplify payment processes for chief financial officers, accounts payable staff and procurement professionals, via the new tie.

Payments 243
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Customer retention in banking: A proactive guide

Abrigo

Strengthening customer relationships with tangible value and personal touch Customer retention in banking can be challenging for community financial institutions. Follow this guide for strategies to stay competitive. You might also like this SMB Lending Insights report for banks and credit unions Download report Takeaway 1 Banks need to implement customer retention strategies to keep their valuable customers, not just attract new ones.

Lending 195
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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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ACI CEO weighs in on FedNow, cross-border payments

Payments Dive

The federal real-time payments system may spool up slowly, but it could ultimately transform U.S. cross-border payments, ACI Worldwide's CEO predicted.

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More Trending

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Fintech Meetup Stays True to Its Mission: Making Connections

William Mills

We all cherish those networkers with a superpower for connecting people. Now there’s a conference that’s honed in on meeting the need: Fintech Meetup. Here’s our take on the show.

Fintech 85
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'They're fixing a broken bank': NYCB starts to outline a way forward

American Banker

The troubled Long Island-based lender laid out steps that it's taking to improve its loan review process. The remediation efforts follow a massive loan provision last quarter, which led to a management shakeup and a $1 billion rescue led by former Treasury Secretary Steven Mnuchin.

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CFPB: Open banking update

BankInovation

Consumer Financial Protection Bureau Director Rohit Chopra released an update today on the bureau’s Personal Financial Data Rights rule-sharing based on his remarks given March 13 at the Financial Data Exchange Global Summit in Washington, D.C. Chopra discussed at the FDX event how the bureau is identifying standard-setting organizations.

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JPMorgan Chase fined $348 million for gaps in trading venue oversight

American Banker

The Federal Reserve and the Office of the Comptroller of the Currency both cited the nation's largest bank for having "inadequate" policies around firm and client trading activities.

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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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This week’s podcast episode: U.S. Supreme Court hears two cases in which plaintiffs seek to overturn Chevron judicial deference framework: Who will win and what does it mean? Part II

CFPB Monitor

On January 17, 2024, the U.S. Supreme Court heard oral argument in two cases in which the question presented is whether the Court should overrule its 1984 decision in Chevron, U.S.A., Inc. v. Nat. Res. Def. Council, Inc. That decision produced what became known as the “ Chevron judicial deference framework”–the two-step analysis that courts typically invoke when reviewing a federal agency’s interpretation of a statute. .

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10 Essential Personal Finance Moves Before the Financial Year Ends

BankBazaar

The end of the financial year is the perfect time to review your financial situation and make strategic moves to optimise your money matters. Here are essential finance moves to consider. As a young professional in India, managing your personal finances effectively is crucial for securing your financial future. With the end of the financial year fast approaching, now is the perfect time to review your financial situation and make strategic moves to optimise your money matters.

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TransUnion launches new data analytics platform powered by AI

American Banker

The credit bureau's data analytics portal, OneTru, hosts all previously offered products on a hybrid cloud-based platform and uses guides powered by artificial intelligence to streamline query processes.

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Podcast: Grasshopper CEO Butler talks growth

BankInovation

Grasshopper Bank is investing in its digital offerings to meet its clients where they want to be met — whether through self-service channels or other avenues.

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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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Klarna to launch Open Banking settlements in the UK

The Paypers

AI-enabled payments network and shopping assistant Klarna has announced the launch of an Open Banking-powered settlement in the UK.

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Inside ING’s hybrid, multi-cloud strategy

BankInovation

ING Bank is moving its operations to the cloud for scalability, efficiency and security. The $967 billion bank’s operations are 65% on a private cloud, Marco Eijsackers, head of the CIO office at ING, told Bank Automation News. “We started our migration in 2014-15 in partnership with Microsoft by building private clouds,” Eijsackers said.

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Credit unions' top regulator sounds the alarm. Is Congress listening?

American Banker

The Navy Federal scandal is just the tip of the iceberg. After looking away for 20 years, Congress needs to focus on providing real oversight of the credit union industry.

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Navy Federal developing omnichannel platform

BankInovation

Navy Federal Credit Union is developing an omnichannel lending platform as credit unions and captives prioritize technology upgrades in the face of increased competition and changing consumer preferences.

Lending 72
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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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Calculum partners with Corpay

The Paypers

Financial AI and data analytics services provider Calculum has announced its partnership with Corpay , aiming to provide its customers with access to Corpay Payments Automation.

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The Role of Digital Document Collection in Fraud Prevention

BankInovation

Navigating the landscape of finance and technology requires innovation and a strategic vision addressing industry challenges. A big concern is the staggering amount of non-mortgage consumer debt—over $100 billion—charged off last year. In the face of rising fraud, digital document collection and consumer transparency is a game-changing approach for lenders.

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Temenos partners with InCountry

The Paypers

Switzerland-based Temenos has announced its partnership with InCountry in order to provide secure data residency for the Temenos Banking Cloud.

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Discover: Contactless payments make mass transit more inclusive

American Banker

The pandemic reduced the number of daily mass-transit commuters, but the accompanying surge of contactless payments is expanding and diversifying transit systems' demographic reach, according to data from the card network.

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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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New research finds organisations do not see the value of digital ID

The Paypers

Open Identity Exchange (OIX) and Daon have released a new UK based research in cross channel identity and biometric solutions.

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Bank of America gives Erica a search-bar look as it explores gen AI

American Banker

Like many of its peers, the bank is evolving its virtual assistant to be more personalized and to incorporate a large language model, but it's not quite ready to turn on customer-facing generative AI.

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PPRO raises EUR 85 million in funding round

The Paypers

PPRO has completed a EUR 85 million funding round, aimed at accelerating its development in key markets and optimise its global network of local payment methods.

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CFPB says bank engaged in 'forum-shopping' to fight $8 late fee rule

American Banker

The Consumer Financial Protection Bureau claims trade groups have no jurisdiction to file a lawsuit in Texas to stop the bureau's $8 credit card late fee rule, saying the plaintiffs engaged in "forum-shopping" to seek the most favorable outcome.

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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.