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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Back to Basics with Reconciliations

Join us in this webinar, where we share best practices on how to think about the reconciliation work each month, when best to do reconciliations, how they should be prepared, and some common pitfalls to avoid. Learning Objectives: This course objective is to understand how to properly prepare and review balance sheet reconciliations and its impact on the financial statements.

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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.

Payments 221

More Trending

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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.

Taxes 78
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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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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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How a Managed Services Partner Can Reduce the Friction in Your RDC Program

Treasury teams at community banks face an ongoing challenge of delivering frictionless customer experiences as they support treasury products – especially RDC. This infographic focuses on the efficiencies community banks gain when partnering with a proven managed services provider. You’ll see the advantages you can gain when a managed services partner leverages online tools, skilled customer and technical support personnel, and fulfillment and logistics capabilities to streamline RDC fulfillment

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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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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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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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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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Budget Playbook for Commercial Lenders — Bank and Credit Union Edition

Amid market uncertainty, banks and credit unions are faced with critical decisions about the future of their commercial lending. With fluctuating interest rates and rising competition from non-bank lenders, it's critical to allocate your 2025 budget strategically to optimize lending operations. Our Budget Playbook for Commercial Lenders delivers key strategies to help you navigate these challenges, ensuring your institution is well-positioned for the coming year.

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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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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.

Meeting 77
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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.

Fraud 59
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It Takes Two to Tango

With automation, you’ll reduce errors and save valuable time, allowing you to focus on what really matters: strategic analysis and insightful decision-making. Picture accurate financial reports ready at your fingertips, giving you the confidence to tackle business challenges head-on. Embracing automation not only boosts productivity but also elevates your role from number cruncher to closing rockstar.

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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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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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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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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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The 2024 Lenders Guide to Automating the Complex Loan

Download the latest edition of GoDocs' "The Lender's Guide to Automating the Complex Loan." This comprehensive guide offers financial institutions valuable insights into document automation for complex commercial loans. It unpacks the intricacies of complex loans and showcases how an automation platform like GoDocs — the leading commercial loan closing platform — delivers impressive benefits and ROI to any FI.

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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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Morgan Stanley wins $1.5 million bonus spat with French banker who quit

American Banker

The Paris court of appeals ruled against Bernard Mourad, saying the bank's cash and shares incentive programs "sought to ensure his loyalty in the long term." The judges said they were distinct from his performance compensation — covered by his salary and discretionary bonus.

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Medsforless taps iDenfy to protect online health industry in UK

The Paypers

UK-based digital healthcare tech company Medsforless has partnered with regtech iDenfy to automatically asses risks and detect fraud for its online healthcare platform.

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Mortgage rates slip but forecasts don't look promising

American Banker

The average 30-year fixed mortgage rate for conforming loans fell, according to Freddie Mac, even as the 10-year Treasury yield rose nearly 18 basis points from the start of this week.

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Confronting the Change Challenge

Change is difficult, whether in our private or work life. However, without change, growth and learning are difficult not to mention keeping up with the market and staying competitive. We have all worked for or ourselves are the bosses that prefer to keep the status quo. We will discuss how to address the "change challenge" to enable you to be a changemaker and a graceful recipient of change.