Thu.Jul 11, 2024

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Five tips to juice community bank board performance

ABA Community Banking

Creating a board that is high-functioning and enhances the bank’s service to the community, its success and its profitability. The post Five tips to juice community bank board performance appeared first on ABA Banking Journal.

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Crypto theft doubles to $1.38B

Payments Dive

The May theft of over $300 million worth of bitcoin from Japanese cryptocurrency exchange DMM Bitcoin is the largest digital currency heist so far this year.

Bitcoin 397
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3 Areas of Focus for Building a Sustainable Deposit Strategy

Gonzobanker

Now is the time to fortify your defenses for the war on deposits. Halfway through 2024, most banks and credit unions have settled into the current environment— for better or worse. Yes, the initial panic has worn off, but dwindling deposits and sustained interest rates have considerably impacted funding costs and growth outlooks. But a faint light is starting to show at the end of the tunnel.

Strategy 145
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The Clearing House’s RTP network logs Q2 records

Payments Dive

The real-time payments system has been growing its roster of banks and credit unions, as it newly competes with the Federal Reserve’s FedNow payments system.

System 221
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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.

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Rocket Mortgage uses AWS’ Bedrock to cut costs with new tool

BankInovation

NEW YORK — Rocket Mortgage is working with Amazon Web Services to deploy generative AI-driven tools to make its customer relations team and internal operations more efficient.

Tools 119

More Trending

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Fine-Tune Your Operations: Leveraging Specialized Technology Consultants

Jack Henry

Develop long-term success strategies and achieve process improvements for your bank or credit union with the expertise of a banking technology consultant.

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Jiangxi Bank of China goes under

The Paypers

Jiangxi Bank of China has gone under, as the banking sector is currently facing a full-scape crisis with financial institutions being absorbed into larger enterprises.

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Celebrate National Fries Day with Us!

BankBazaar

A day dedicated to everyone’s favourite crispy snack ? Yes, please! Let’s blend the joy that fries bring us along with some smart financial tips to have a truly flavourful experience together. Want to know more? R ead on… Welcome to the tastiest day of the year, fellow enthusiasts — it’s French Fries Day! Whether you call them chips, fries, or frites (like the French do), today, you have the perfect excuse to indulge in some crispy, golden goodness to satisfy your cravings!

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Appeals court delivers big win to CFPB in Townstone redlining case

American Banker

A federal appeals court ruled that the Equal Credit Opportunity Act prohibits not just outright discrimination but also the discouragement of prospective applicants for credit.

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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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FIs adopting FedNow mainly as ‘receive-only’

BankInovation

Adoption of the Federal Reserve’s instant payments platform, FedNow, is growing, however, of the more than 800 financial institutions using it, most are doing so in receive-only mode. Eighty-six percent of banks and 73% of credit unions are signed up with FedNow as receive-only institutions, according to a report released this year by Cornerstone Advisors.

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Basel endgame supporters need a litigation strategy of their own

American Banker

The banking industry is using the threat of lawsuits to push regulators toward a less stringent final rule on capital. Those in favor of tougher rules should fight fire with fire.

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Bain, Reverence near $3.5 Billion deal for Envestnet

BankInovation

Bain Capital and Reverence Capital Partners have agreed a deal to take Envestnet Inc., a provider of wealth-management software, private.blo The buyout firms will pay $63.15 a share for Berwyn, Pennsylvania-based Envestnet, according to a statement on Thursday that confirmed an earlier Bloomberg News report. The offer values Envestnet at $3.

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Effort to overturn Biden veto on crypto banking rule SAB 121 fails

American Banker

The House didn't meet the two-thirds threshold needed to overturn President Joe Biden's veto of a resolution nullifying staff accounting bulletin 121, which requires that banks hold cryptocurrency held in custody on their balance sheet as liabilities.

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If It Aint Broke, Don’t Fix It: A Dangerous Mindset

Time and time again we tell ourselves and others NOT take action on something that is not "broken." We apply that mindset at home and at work. Sometimes, it doesn’t work out so well. Because when it's truly broken, it's usually an emergency, costs more and causes stress. Join us in this webinar where we share ways where you are able to anticipate your needs, understand benefits that you will get from getting better now instead of later, and relieving your team of tasks that they don't need to be

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Citi fined $136M for failing to fix regulatory issues

BankInovation

Citigroup Inc. will pay almost $136 million in fines to US bank regulators over issues related to data-quality management and risk controls. The Federal Reserve said Wednesday that its penalty was for Citi violating an enforcement action from 2020.

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Netbank partners with DragonPay

The Paypers

Netbank has deployed its Virtual Collection Accounts Solution for Dragonpay Corporation to enhance financial transactions and digital payment solutions across the Philippines.

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FIs adopting RTP mainly as ‘receive-only’

BankInovation

Adoption of the Federal Reserve’s instant payments platform, FedNow, is growing, however, of the more than 800 financial institutions using it, most are doing so in receive-only mode.

Maine 61
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20 community banks with the largest first mortgage loan portfolios

American Banker

The top five community banks have combined first mortgage loans of more than $2.8 billion as of March 31, 2024.

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Is Your Current Card Platform Holding You Back?

Have you ever felt the pain and loss of a client suddenly going silent, leaving you questioning everything? Ghosting can cause heartbreak; in business, it drains resources, and emotionally, it shatters your confidence. A modern credit card program can give you the tools to deliver the digital-first experiences your customer’s demand. Our eBook, “5 Signs Your Credit Card Offering Needs an Upgrade,” will help you identify key indicators that your current card platform may be holding you back and w

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Using sectoral data to estimate the trend in aggregate wage growth

BankUnderground

Tomas Key Nominal wage growth has increased markedly in the UK in recent years, reaching levels that haven’t been seen for more than 20 years. Although growth has moderated a little in recent months, it remains significantly above its pre-pandemic level. An assessment of whether this strong rate of wage growth will persist is a key input to the monetary policy decision, given the important link between the cost of labour and firms’ pricing decisions.

Trends 52
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Apple's EU concessions create payments opportunity for Samsung, Curve

American Banker

The American tech giant's agreement to open up to other firms may give other tech firms the chance they need to offer an updated mobile wallet.

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Happy Money teams up with Method to streamline debt consolidation

The Paypers

US-based provider of unsecured lending Happy Money has partnered with Method to augment debt consolidation by integrating real-time data APIs for the benefit of credit unions.

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Why bank stocks may struggle to muster more momentum

American Banker

Higher funding costs, lower loan demand and the potential for increased credit costs continue to drag on the sector heading into second-quarter earnings season.

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How Unify Turned Month-End Mayhem Into a Growth Party With Automation!

By ditching paper and manual checklists, UNIFY embraced ART’s cloud-based solution for seamless automation. The robust dashboards, exception reports, and completion date reports allowed the team to easily track progress and resolve bottlenecks. ART’s flexible access for auditors ensured tight deadlines were met effortlessly. With competitive pricing and a rapid setup, ART cut costs and minimized disruptions, enabling UNIFY’s team to concentrate on high-impact tasks.

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Fave Singapore obtains MAS approval for MPI licence

The Paypers

Fave Singapore , a subsidiary of Pine Labs , has secured in-principle approval from the Monetary Authority of Singapore (MAS) for a Major Payment Institution (MPI) licence.

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Patelco faces multiple lawsuits over ransomware attack

American Banker

The four lawsuits allege that attackers stole members' Social Security numbers, among other data. Patelco has not yet confirmed whether any data was stolen.

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ClearScore and Fair4All Finance join forces

The Paypers

ClearScore has secured GBP 3.4 million funding from Fair4All Finance to develop a debt consolidation loan technology for people in financially vulnerable circumstances in the UK.

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This fintech launched weeks after Synapse failed. Its CEO is undaunted.

American Banker

Evergreen Money offers affluent savers both high returns and ready access to their money. The startup's founder, former PayPal CEO Bill Harris, says that increased regulatory scrutiny of bank-fintech partnerships is a positive development.

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3 Ways Managed Device Services Help Community Banks Cut Costs

Community banks seek ways to leverage their technology infrastructure to drive productivity and growth. However, the sheer volume of technology devices, capital constraints, and lack of skilled resources stand in the way. This Strategy Brief explores how a managed device services partner can help bridge this resource gap. Managed device services partners empower community banks to take charge of mission-critical device management activities with: Logistics and installation services to support se