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.

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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.

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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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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.

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More Trending

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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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.

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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.

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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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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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Minka, GMoney, and Globokas expand instant payments in Peru

The Paypers

Colombia-based fintech Minka has partnered with Peru-based fintechs GMoney and Globokas to expand its instant payment ecosystem in Peru.

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After Apple Bows Out, How Do the Remaining BNPL Players Shake Out?

The Financial Brand

This article After Apple Bows Out, How Do the Remaining BNPL Players Shake Out? appeared first on The Financial Brand. Apple killed its BNPL entry, but there's still much activity in the business. Here's what BNPL players are up to. This article After Apple Bows Out, How Do the Remaining BNPL Players Shake Out? appeared first on The Financial Brand.

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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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Words Matter: Don’t Overlook Customer Messaging in Your CX Strategy

The Financial Brand

This article Words Matter: Don’t Overlook Customer Messaging in Your CX Strategy appeared first on The Financial Brand. Discover how to revolutionize customer messaging by adopting mindset changes inspired by innovative practices in Latin America and Europe. This article Words Matter: Don’t Overlook Customer Messaging in Your CX Strategy appeared first on The Financial Brand.

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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.