Fed to review debit card fee cap next week
Payments Dive
OCTOBER 20, 2023
The Fed hasn’t changed a debit card fee cap since it was put in place in 2011, but it's planning to take up the issue at a meeting next week.
Fri.Oct 20, 2023
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How should banks use AI?
ATM Marketplace
OCTOBER 20, 2023
How should banks use AI? Will it replace employees?
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CFPB unveils open banking proposal
Payments Dive
OCTOBER 20, 2023
The rule makes it easier for consumers to share deposit account and credit card data with fintechs, the Consumer Financial Protection Bureau said.
Chopra: Open banking helps small banks 'steal the lunch' of big banks
American Banker
OCTOBER 20, 2023
Consumer Financial Protection Bureau director Rohit Chopra said Friday that a recently proposed data-access rule will provide a competitive edge to small banks, leveling the playing field between them and their larger competitors.
Fall In Love With the Month-End Close
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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.
Same-day payments keep climbing: Nacha
Payments Dive
OCTOBER 20, 2023
Businesses are increasingly turning to same-day ACH payments this year, according to Nacha, a national clearinghouse that manages electronic money movement.
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Amex adds cards at a slower rate
Payments Dive
OCTOBER 20, 2023
As the company’s marketing spending dipped in the third quarter, Amex acquired fewer new cards than it has in recent quarters.
Banking and community advocacy groups trade accusations of dirty pool
American Banker
OCTOBER 20, 2023
The National Community Reinvestment Coalition and the American Bankers Association have sent dueling letters to the Federal Reserve over whether NCRC advocates pressured ABA member banks to denounce the ABA's litigation against the Consumer Financial Protection Bureau.
CFPB Appoints New Members to Advisory Committees
CFPB Monitor
OCTOBER 20, 2023
On October 5, the CFPB published the list of new members appointed to serve on the Consumer Advisory Board and each Council group. As background, Dodd-Frank requires the CFPB to maintain and work with a Consumer Advisory Board, comprised of industry leaders who are recommended by the presidents of each Federal Reserve Bank across the country.
Comerica foreshadows cost cuts
American Banker
OCTOBER 20, 2023
"We'll be taking steps to offset expense pressures," CEO Curtis Farmer told analysts after the company reported an 11% year-over-year jump in costs and falling profits.
5 Ways You Can Win Faster with Gen AI in Sales
Advertiser: ZoomInfo
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.
Huntington focuses on sustained efficiencies in Q3
BankInovation
OCTOBER 20, 2023
Huntington Bancshares remained steadfast in its commitment to control expenses during the third quarter, allowing it to maximize efficiency. “This focus on sustained efficiencies — including Operation Accelerate business process, offshoring and the other actions — will yield multiyear benefits,” Chief Financial Officer Zach Wasserman said during today’s earnings call.
Data Zoo expands digital identity solution to North America
The Paypers
OCTOBER 20, 2023
Australia-based fintech has Data Zoo expanded to the North American Market by leveraging a US patent to deliver digital identity solutions for banks and prevents identity theft.
KeyBank ups tech spend by $12M
BankInovation
OCTOBER 20, 2023
KeyBank remained focused on expense management and improving its technology to stay competitive in the third quarter. The Cleveland-based bank’s noninterest expense increased to $1.1 billion in the quarter, up by 0.4% year over year, driven by an increase of $12 million in tech spend, according to its quarterly earnings report.
Regulators extend comment period on Basel III endgame proposal
American Banker
OCTOBER 20, 2023
Regulators will now accept feedback until Jan 16, 2024 — a six-week extension — concurrent with a Federal Reserve effort to gather additional information about the potential implications of the proposed capital changes.
The Role of Automation in Commercial Lending
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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.
Centific partners with Prove Identity
The Paypers
OCTOBER 20, 2023
AI and data services provider Centific has partnered with Prove Identity to improve the digital security landscape and enhance customer experiences.
OCC's Hsu: 'Lending has to go up' under new CRA rule
American Banker
OCTOBER 20, 2023
Acting Comptroller of the Currency Michael Hsu said Friday morning that regulators' forthcoming Community Reinvestment Act implementation final rule "has to be better and it's got to be faster" than the status quo.
UNO Digital Bank, Collabera Digital to integrate with GCash
The Paypers
OCTOBER 20, 2023
UNO Digital Bank has partnered with Collabera Digital to expand and increase its user base by developing and integrating a mini-app in Philippines-based GCash.
Why credit unions' asset levels are rising
American Banker
OCTOBER 20, 2023
Mergers may be shrinking the overall number of credit unions, but they have provided valuable scale to those that remain.
10 Ways to Leverage Buyer Signals and Drive Revenue
Advertiser: ZoomInfo
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.
CFPB proposes Open Banking rule in the US
The Paypers
OCTOBER 20, 2023
The Consumer Financial Protection Bureau (CFPB) has proposed a Personal Financial Data Rights rule set to expedite the shift to Open Banking in the US and jumpstart competition.
Persistent inflation, CRE register as top financial stability concerns
American Banker
OCTOBER 20, 2023
The Federal Reserve released its semiannual financial stability report highlighting elevated asset values, funding issues and pockets of leverage as top concerns.
Mastercard partners with Remitly
The Paypers
OCTOBER 20, 2023
Mastercard has announced its partnership with Remitly in order to expand access to cross-border payments and remittances to the latter’s US-based clients.
DTCC to buy Securrency as asset tokenization rises on Wall Street
American Banker
OCTOBER 20, 2023
The global clearinghouse inked the deal with Securrency as part of its push to expand the use of the emerging technology in capital markets.
Outsource With Confidence for RDC Program Success
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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.
BT's Global Fabric enables multi-cloud connectivity for businesses
The Paypers
OCTOBER 20, 2023
UK-based communications services company BT has launched Network-as-a-Service solution Global Fabric to connect multiple clouds businesses have and boost productivity.
Bucking the trend, Huntington forecasts higher expenses, eyes growth
American Banker
OCTOBER 20, 2023
Other regional banks are vowing to cut costs, but Huntington Bancshares CEO Steve Steinour says the Columbus, Ohio-based lender is well positioned to "play offense" in 2024.
Sift announces new reseller and technology integration partners
The Paypers
OCTOBER 20, 2023
Sift , a digital trust and safety solution provider, has announced new reseller and integration partnerships to expand its reach and enable complete customer journey protection.
The Credit Card Competition Act is the right answer to fix a broken market
American Banker
OCTOBER 20, 2023
An advocate for retail merchants takes issue with a BankThink article criticizing the Credit Card Competition Act.
Signal-Based Selling: How to Leverage 4 Key Buying Signals
Advertiser: ZoomInfo
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.
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