Amazon, Google stake out bigger foothold in payments
Payments Dive
SEPTEMBER 23, 2024
The tech giants are inserting themselves into more retail transactions to build loyalty and harvest customer data.
Mon.Sep 23, 2024
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Abrigo Lending Insights: Current interest rate trends for banks and credit unions
Abrigo
SEPTEMBER 23, 2024
Recent loan rate trends from Abrigo Connect Carefully monitoring interest rate trends for loans will help financial institutions remain competitive as rates drop. Would you like other articles like this in your inbox? Data for banks & credit unions Real-time pricing trends for loans Now that the Fed has lowerered interest rates , financial institutions will want to carefully monitor current loan interest rate trends in their markets to remain competitive as rates drop.
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Love’s adds digital payment method
Payments Dive
SEPTEMBER 23, 2024
The convenience store operator turned to Relay Payments to allow truck drivers to pay securely at most of their fueling locations.
10 Lessons from the National Public Data breach for consumers and financial institutions
Abrigo
SEPTEMBER 23, 2024
Critical practices for individuals and organizations to protect their data The National Public Data breach serves as a reminder to all of us that proactive measures are necessary to safeguard our personal information. You might also like this whitepaper: "Protecting banking customers starts with you." DOWNLOAD Takeaway 1 The National Public Data breach exposed over 2.7 billion records and is a reminder to be proactive when safeguarding your data.
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.
DailyPay to offer service outside US
Payments Dive
SEPTEMBER 23, 2024
Earned wage access provider DailyPay plans to begin offering its services outside the U.S. for the first time later this year.
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BNP Paribas to acquire HSBC's Private Banking activities in Germany
The Paypers
SEPTEMBER 23, 2024
Financial services company BNP Paribas has announced its agreement with HSBC to acquire its Private Banking activities in Germany, aiming to further solidify its position in the industry.
Fintechs need to get proactive about setting industry standards
American Banker
SEPTEMBER 23, 2024
If companies want to keep partnering with banks to build innovative financial services, they need to stop thinking about regulation as their partner banks' problems and start being part of the solution.
Auto lenders lean into AI for customer service
BankInovation
SEPTEMBER 23, 2024
Auto lenders are incorporating artificial intelligence into their processes to improve customer service automation and credit decisioning while eyeing uses for underwriting. Subprime auto lenders can use AI to ensure staff and resources are assigned to tasks that help navigate affordability challenges, operational costs and credit risk, Harvey Singh, chief operating officer at Veros Credit, said during a […] The post Auto lenders lean into AI for customer service appeared first on Bank A
Why megabanks are seeing the value in new branches
American Banker
SEPTEMBER 23, 2024
Bank of America said Monday that it's planning to open 165 new branches by the end of 2026. As brick-and-mortar locations remain critical for adding new customer accounts, JPMorgan Chase and Wells Fargo are also making targeted additions to their branch networks.
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
Citizens invests in gen AI training
BankInovation
SEPTEMBER 23, 2024
Citizens Bank is training employees on generative AI, engineering, cloud application and development, security and operations. “We have a targeted approach to upskill colleagues in roles that support or use generative AI, with a focus on our use cases that have launched,” Michael Ruttledge, chief information officer and head of technology services at Citizens, told […] The post Citizens invests in gen AI training appeared first on Bank Automation News.
Merchants are key as Zelle's sibling Paze seeks growth
American Banker
SEPTEMBER 23, 2024
The new bank-led digital wallet is signing up financial institutions, but payment experts say broadening its merchant base and reaching consumers will be an uphill climb.
PNC partners with Plaid for secure data sharing via Akoya API
The Paypers
SEPTEMBER 23, 2024
PNC has partnered with Plaid to enable secure data sharing for customers through Akoya 's API, allowing users to safely connect financial apps while maintaining control.
Spreading out the asset risk
ABA Community Banking
SEPTEMBER 23, 2024
By Christopher DelporteA fintech startup has created what it claims is the first online bank-to-bank marketplace designed to help financial institutions mitigate asset risk. The goal of the Miami-based firm — Capstack Technologies — is to create a national platform to sell or buy loans and deposits, giving small and regional banks access to national […] The post Spreading out the asset risk appeared first on ABA Banking Journal.
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.
Walmart partners with Fiserv to offer Pay-by-Bank services
The Paypers
SEPTEMBER 23, 2024
US-based Walmart has announced its partnership with Fiserv in order to enable Pay-by-Bank payments for online purchases, an initiative that is set to start in 2025.
Survey: Cybersecurity, customer acquisition top challenges for community banks
ABA Community Banking
SEPTEMBER 23, 2024
Community banks see cybersecurity as a top challenge, with customer acquisition and retention a close second, according to a recent survey of community banks by BNY. The post Survey: Cybersecurity, customer acquisition top challenges for community banks appeared first on ABA Banking Journal.
Do packaged bank accounts deliver value for money?
TheGuardian
SEPTEMBER 23, 2024
As banks raise fees customers pay in exchange for a range of perks, it’s time to ask: Are you are really getting your money’s worth? Consumers with packaged bank accounts are being urged to scrutinise how much they pay for the benefits they receive after another leading provider increased its fees. Nationwide has become the latest big name to announce it was upping the cost, in this case by almost 40% – prompting calls for users to ensure they are getting the best value for their money.
Directors Briefing: How boards can prepare banks for disasters
ABA Community Banking
SEPTEMBER 23, 2024
A well-crafted plan provides a strategic framework for decision-making and helps institutions recover. The post Directors Briefing: How boards can prepare banks for disasters appeared first on ABA Banking Journal.
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.
As banks adopt AI, here are 3 climate techs that could lessen its energy toll
American Banker
SEPTEMBER 23, 2024
Investors and startups see the AI boom in financial services and across the economy driving the necessity for cleaner power.
Bank of Japan maintains its monetary policy rate
The Paypers
SEPTEMBER 23, 2024
The Bank of Japan has announced that it plans to retain its current monetary policy stance, keeping the rate at approximately 0.25% and supporting the short-term interest rates.
FDIC bank-fintech recordkeeping rule leaves questions unanswered
American Banker
SEPTEMBER 23, 2024
The new rules on custodial account records could address the widening issues that the Synapse bankruptcy caused in the fintech world, but could make relationships between banks and fintech partners complicated, experts said.
Vista and Evercore collaborate on selling Finastra's capital markets arm
The Paypers
SEPTEMBER 23, 2024
Global investment company Vista Equity Partners has announced its collaboration with Evercore , with the two firms focusing on selling Finastra ’s treasury and capital markets business.
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.
Big banks back tripling global nuclear capacity by 2050
American Banker
SEPTEMBER 23, 2024
Some of the country's largest banks, including Bank of America, Citi and Morgan Stanley, said they support efforts to triple global nuclear capacity, highlighting nuclear energy's role in the clean energy transition.
Boshhh Partners with Yapily to launch a new AI tool
The Paypers
SEPTEMBER 23, 2024
Boshhh has partnered with Yapily to introduce Boshhh.io, a new platform designed to enhance affordability and risk assessment reporting for the financial services and legal sectors.
BofA settles N.J. lawsuit over customer accounts frozen during pandemic
American Banker
SEPTEMBER 23, 2024
The suit was filed by three New Jersey residents who alleged that BofA froze their prepaid debit cards during a pandemic-era fraud wave, blocking them from accessing unemployment benefits.
GDS engages with Open Banking technology suppliers
The Paypers
SEPTEMBER 23, 2024
The GDS has published an RFI from payment service providers as it engages with suppliers about potentially procuring Open Banking technology.
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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