Tue.Oct 01, 2024

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What's pulling banks down on customer satisfaction?

ATM Marketplace

A recent survey for UK’s Institute for Customer Service found that banks didn't make the cut for good customer service. How can they improve?

Survey 104
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Affirm may offer discounts after Fed interest rate cut

Payments Dive

The Federal Reserve’s interest rate reduction may give the company leeway to offer more consumers 0% interest or a lower APR, Affirm CFO Michael Linford said this week.

Company 433
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AI Adoption in Finance Functions Soared in 2024

Perficient

The buzz around AI’s potential to save time and boost efficiency has led many companies to quickly implement it in the workplace. While administrative functions like HR, legal, and procurement were early adopters, finance initially lagged behind. However, that’s no longer the case. “The adoption of finance AI by finance functions has increased significantly in the past year with 58% using the technology in 2024 – a rise of 21 percentage points from 2023 – according to a s

Survey 221
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Visa boosts litigation funding ahead of US antitrust fight

Payments Dive

The company added $1.5 billion to a litigation escrow account as it battles a Justice Department lawsuit and ongoing legal case with merchants.

US 395
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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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FDIC Digital Sign Requirement Deadline Fast Approaching – Part 1 of 2

Perficient

Just before Christmas in 2023, December 23, 2023, to be precise, the Federal Deposit Insurance Corporation (“FDIC”) Board of Directors gave a Christmas gift that was the equivalent of coal in their stocking. Since the 1930s, when the FDIC was founded as part of the New Deal, the black and gold official sign (shown below) displayed at bank branch teller windows has given bank customers confidence that their deposited funds are safe.

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More Trending

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Coffee Culture And Its Impact On Personal Spending Habits

BankBazaar

On this International Coffee Day, as we breathe in the rich aroma that somehow makes every moment feel a little warmer, it’s hard not to reflect on how deeply coffee has woven itself into our daily lives. What was once just a simple cup in the morning has evolved into something much bigger—it’s a lifestyle, a social ritual, a small indulgence that we don’t think twice about.

Cards 147
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How Payment Solutions Can Help CFOs Overcome Economic Challenges

Cisco

IT payment solutions offer an alternative source of capital that will not impact a customer’s existing credit lines.

Payments 118
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Monitoring UK bank accounts for benefits fraud would be ‘huge blow to privacy’

TheGuardian

Exclusive: privacy and rights groups fear government may resurrect Tory plan for mass algorithmic surveillance UK politics live – latest updates Ministers have been warned not to resurrect Conservative plans to tackle welfare fraud by launching mass algorithmic surveillance of bank accounts. Disability rights, poverty, pensioner and privacy groups fear the government is poised to deliver a “snooper’s charter” by using automation and possibly artificial intelligence to crack down on benefit cheat

Fraud 111
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How Payment Solutions Can Help CFOs Overcome Economic Challenges

Cisco

IT payment solutions offer an alternative source of capital that will not impact a customer’s existing credit lines.

Payments 118
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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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Bank Community Engagement: Protecting teens from financial scammers

ABA Community Banking

Open communication and education with mindful, real examples are the best steps in demonstrating that scams and fraud can happen to anyone. The post Bank Community Engagement: Protecting teens from financial scammers appeared first on ABA Banking Journal.

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Unlocking Insights: What Recent Security Events Reveal About Protecting Your Data

Jack Henry

Unlock key takeaways from recent cybersecurity attacks to help you reduce the impact of breaches and outages with security awareness, robust incident response, and business continuity.

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Why banks aren't ready for ISO 20022

American Banker

The payment protocol, years in the making, includes more information for transactions, aiding real-time processing, international commerce, risk management and overall accuracy. But it also requires a lot of work.

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Nationwide acquires Virgin Money

The Paypers

UK-based Nationwide has announced that it completed the acquisition of Virgin Money , with the move allowing the financial institution to augment its offering.

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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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The Most Powerful Women in Banking 2024: Top Teams

American Banker

Our annual list of the top five teams in banking.

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Paybyrd partners Mangopay for payment enhancements

The Paypers

Paybyrd has selected Mangopay as its partner to enhance its omnichannel payment gateway solutions.

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Citi freed from an 11-year-old Fed enforcement action

American Banker

The Federal Reserve has lifted a 2013 order relating to anti-money-laundering compliance issues, including in the megabank's now-defunct Banamex USA unit.

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Fintech funding: Citi Ventures cautious of AI hype

BankInovation

Citi Ventures is aware and wary of a potential hype cycle relating to AI and aims to avoid investing in overvalued startups. “The over-hype, under-hype cycle is something that happens continuously, and AI has not been immune to that,” Managing Director Luis Valdich told Bank Automation News. “We try to make investment decisions carefully […] The post Fintech funding: Citi Ventures cautious of AI hype appeared first on Bank Automation News.

Fintech 61
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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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Fraud remains a major concern for potential FedNow participants

American Banker

The new real-time payments system is being optimized for speed, not necessarily security, requiring the banks participating in the program to exercise a heightened level of vigilance.

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Barclays delayed porting our mortgage but we still have to pay £13,000

TheGuardian

We were in danger of our chain collapsing as it took so long over the paperwork and we had to find an alternative We recently moved house and wanted to port our Barclays mortgage, but it took so long over the paperwork that our chain looked set to collapse, so we switched to another lender. Despite the delays at its end, Barclays says we still have to pay an early repayment charge (ERC) of more than £13,000.

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The Most Powerful Women in Banking Top Team 2024: Zions Bancorp.

American Banker

Zions Bancorp.'s core systems team has spent more than a decade transforming the digital system that acts as the hub for all deposit and loan accounts at the bank.

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ANZ joins Project Guardian

The Paypers

Australia-based bank ANZ has joined Monetary Authority of Singapore ’s (MAS) Project Guardian to enhance access to tokenized assets in financial markets.

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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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The Most Powerful Women in Banking Top Team 2024: First Horizon

American Banker

The scuttled acquisition deal with TD Bank challenged the executive management team at First Horizon to come up with a plan to calm investors' and customers' nerves.

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KeyBank business clients under ‘pressure’ to implement AI

BankInovation

Middle-market businesses are tapping AI and automation to expand their operations in the short term. Fifty-four percent of small businesses will integrate some form of AI in the next six months, a 10% year-over-year increase from the fourth quarter of 2023, according to KeyBank’s Middle Market Sentiment report, released last week. Post-pandemic, middle-market businesses had […] The post KeyBank business clients under ‘pressure’ to implement AI appeared first on Bank Automation News.

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The Most Powerful Women in Banking Top Team 2024: Huntington National Bank

American Banker

The commercial bank team worked together to grow the bank's commercial business during a challenging year.

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Bank acquisitions announced in three states

ABA Community Banking

Byline Bancorp in Chicago, Mifflinburg Bancorp in Pennsylvania and River Run Bancorp in Massachusetts announce acquisitions. The post Bank acquisitions announced in three states appeared first on ABA Banking Journal.

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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.