How AI makes biometric payments riskier
American Banker
SEPTEMBER 9, 2024
Crooks can use deepfakes and other machine learning tools to circumvent traditional authentication security methods. Payment experts discuss how firms can protect themselves.
Mon.Sep 09, 2024
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3 ways open finance empowers community financial institutions to modernize their payments infrastructure
Payments Dive
SEPTEMBER 9, 2024
How open finance enables efficient and secure technology, greater flexibility, and scalability.
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How Customer Turnover Is Hurting Bank Performance
South State Correspondent
SEPTEMBER 9, 2024
In Q2/24, the average return on equity (ROE) for the entire banking industry increased to 11.67% (from 11.11% in the previous quarter). However, for community banks (under $10B in assets), the ROE declined to 10.44% (from 10.57% in the previous quarter). When we analyze the causes of the decline in ROE for community banks we see one important factor – it is not cost of funding, or asset yield, but rather, we believe that higher efficiency ratio is hurting community bank performance, and we bel
The fintech CEO who is becoming a frequent flier with SpaceX
Payments Dive
SEPTEMBER 9, 2024
On Jared Isaacman’s second trip to space, the billionaire plans to become the first private spacewalker. Shift4 investors will need to follow space news to learn about it.
Back to Basics with Reconciliations
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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.
Unsecured Commercial Loan: A Smart Business Move?
Commercial Lending USA
SEPTEMBER 9, 2024
Need a business loan? Learn about unsecured commercial loan. Fast approval and competitive rates. Contact Commercial Lending USA today.
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Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
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Citizens sees up to 20% efficiency gains through gen AI
BankInovation
SEPTEMBER 9, 2024
Citizens Bank has deployed generative AI and automation in operations for activities including coding, customer service and fraud detection, and the efficiency gains are adding up. “We completed a pilot using Microsoft Pilot … and the results were outstanding,” Michael Ruttledge, chief information officer and head of enterprise technology and security at Citizens, told Bank […] The post Citizens sees up to 20% efficiency gains through gen AI appeared first on Bank Automation News.
Discover’s top lawyer to step down
Payments Dive
SEPTEMBER 9, 2024
Hope Mehlman will stay on until the company is acquired by Capital One, a deal facing high legal hurdles, Discover said in a regulatory filing.
Financial services tech investment rebounding after August valley
BankInovation
SEPTEMBER 9, 2024
Investment within the financial services technology sector is creeping back up after plummeting in August. Following a July peak, Bank Automation News’ BAN Stock Index in August fell to 256.23, the lowest on the index since February, when it was 255.21. The BAN Stock Index tracks the average performance of financial technology providers. The index […] The post Financial services tech investment rebounding after August valley appeared first on Bank Automation News.
5 ways Buy Now, Pay Later can boost your business
Payments Dive
SEPTEMBER 9, 2024
Buy Now, Pay Later (BNPL) has moved from a novel option to a must-have for retailers that aim to meet the demands of modern consumers.
How a Managed Services Partner Can Reduce the Friction in Your RDC Program
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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
Are banks saving money as they migrate to the cloud? What you need to know
American Banker
SEPTEMBER 9, 2024
Banks are finding that they rarely save money off the top when they migrate applications to the cloud. The more substantial benefits are about productivity and speedier development.
UK government links with Barratt and Lloyds for £150m housebuilding project
TheGuardian
SEPTEMBER 9, 2024
Homes England joint-venture will help towards aim to build 1.5m new homes over the next five years Business live – latest updates Barratt and Lloyds Banking Group have launched a £150m joint-venture with the government body Homes England that will lead to the UK’s largest housebuilder and mortgage provider capitalising on Labour’s plans to build 1.5m new homes.
Network International partners with ruya to improve Islamic Banking
The Paypers
SEPTEMBER 9, 2024
Network International , a provider of digital commerce solutions in the Middle East and Africa, has partnered with ruya , a UAE-based digital-first Islamic community bank.
Eagle in Maryland sets table for turnaround
American Banker
SEPTEMBER 9, 2024
The bank faced credit setbacks in the nation's capital and margin pressure this year. But it made a series of new hires to reduce risk and diversify its loan portfolio, preparing for a new era of demand as the industry awaits interest rate cuts.
Budget Playbook for Commercial Lenders — Bank and Credit Union Edition
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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.
PayPal partners with Shopify in the US
The Paypers
SEPTEMBER 9, 2024
PayPal and Shopify have expanded their global partnership in the US, with the former becoming an additional card processor for Shopify Payments.
New York community banks reach $236 million deal to merge
American Banker
SEPTEMBER 9, 2024
The all-stock transaction is slated to close in the second quarter of 2025. It would create a bank with more than $15 billion of assets.
Mandelson-backed Bank of London reveals £42m in fresh funding days after winding-up order
TheGuardian
SEPTEMBER 9, 2024
Clearing bank’s future was thrown into question by HMRC action over unpaid taxes last Thursday Business live – latest updates The Bank of London, the fledgling clearing bank backed by the Labour grandee Lord Mandelson, has announced it has raised another £42m from investors days after being hit by a winding-up order by tax authorities. The financial company said the oversubscribed funding round closed in August, and was led by Luxembourg’s Mangrove Capital Partners.
Big banks' closed branches are community bankers' big opportunities
American Banker
SEPTEMBER 9, 2024
Branches are being closed at a record pace because of mergers and financial reasons. If a closed branch is in a good location and meets certain other conditions, it can represent a low-cost way for a community bank to expand.
It Takes Two to Tango
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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.
Krom Bank uses AWS to drive digital banking services
The Paypers
SEPTEMBER 9, 2024
Amazon Web Services has announced that PT Krom Bank Indonesia has been leveraging AWS since the launch of its Krom digital banking service.
Survey finds most smaller banks increasing technology budgets
ABA Community Banking
SEPTEMBER 9, 2024
A majority of banks below $100 billion in revenue are spending more on technology this year than in the past, but most also say their technology projects are not being completed on schedule, according to a new survey of bank executives and board directors by Bank Director and Jack Henry. The post Survey finds most smaller banks increasing technology budgets appeared first on ABA Banking Journal.
It's time for the US to withdraw from the Basel capital accords
American Banker
SEPTEMBER 9, 2024
The Basel capital rules long ago proved themselves to be ineffective and unwieldy. A former FDIC chairman said that history offers us a better alternative in the form of a regulator-centric model rooted in a pre-Basel approach to oversight.
Lloyds Bank report reveals surge in ecommerce scams
The Paypers
SEPTEMBER 9, 2024
Lloyds Bank has released a report focusing on the rise of scams targeting customers on ecommerce platforms.
The 2024 Lenders Guide to Automating the Complex Loan
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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.
FinCEN analyzed 15,000 check fraud cases. Here's what they found.
American Banker
SEPTEMBER 9, 2024
The bureau studied mail theft-related check fraud and found that fraudsters often know to manipulate checks and avoid branches.
iDenfy collaborates with Confindo to mitigate loan fraud
The Paypers
SEPTEMBER 9, 2024
Lithuania-based regtech solution provider iDenfy has entered into a collaborative agreement with Confindo to increase security and manage loan fraud.
Fraud against banks, consumers declines in 2024
American Banker
SEPTEMBER 9, 2024
Reports of fraud committed against financial companies are on pace to, for the first time, fall this year compared with 2023. Consumer reports of fraud are also down.
UAE augments financial crime regulations with AML strategy
The Paypers
SEPTEMBER 9, 2024
As part of the government’s 2024-2027 National Strategy for AML, CFT, and Proliferation Financing, the United Arab Emirates (UAE) has introduced new regulations to mitigate financial crime.
Confronting the Change Challenge
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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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