Wed.Jan 17, 2024

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AML human trafficking red flags and other ways banks can support victims

Abrigo

Human trafficking red flags, strategies, and support Human trafficking is more prevalent than most realize, and banks and credit unions can help prevent it. Know the red flags to watch for. You might like this upcoming webinar, " Unveiling human trafficking: Perspectives, realities, and strategies." LISTEN NOW Takeaway 1 Human trafficking is prevalent in the U.S. and worldwide.

Training 259
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Bank Product Profitability and Productivity

South State Correspondent

In our last article ( HERE ), we highlighted the methodology around why banks should calculate and drive value through customer profitability and product profitability. We focused mainly on customer profitability and used risk-adjusted return on capital as a proxy for profitability. In this article, we wanted a different approach to arrive at the same conclusion but in a slightly different context.

Study 195
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Visa picks fintech startups for accelerator

Payments Dive

A debt repayment app startup and a small business lender are among the U.S. startups selected by the card network and its partner this year.

Fintech 221
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Beyond the average: patterns in UK price data at the micro level

BankUnderground

Lennart Brandt, Natalie Burr and Krisztian Gado The Bank of England has a 2% annual inflation rate target in the ONS’ consumer prices in dex. But looking at its 700 item categories, we find that very few prices ever change by 2%. In fact, on a month-on-month basis, only about one fifth of prices change at all. Instead, we observe what economists call ‘sticky prices’: the price of an item will remain fixed for an extended amount of time and then adjust in one large step.

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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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CFPB proposal would cut overdraft fees

Payments Dive

Overdraft fees would be reclassified as extensions of credit, forcing banks to disclose an APR. They could also be cut to as low as $3.

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More Trending

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Amazon, Andreessen Horowitz seek exemptions on proposed CFPB rule

Payments Dive

The e-commerce giant and investment firm asked for carve-outs for Amazon Pay and non-fungible tokens, respectively.

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Investing 101: A Beginner’s Guide to Building Wealth

BankBazaar

Wanna know how to turn your pocket change into a fortune ? Investing is the way to go and this article is all you need to get started. Gone are the days of investing and saving money being the same thing. These days, investing is a different ball game altogether. Understanding its intricacies and diversity can be daunting for beginners. In this article, we will cover everything a beginner investor must know about investing in India, including the different types of investments, how to create an

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X gains money transmitter approval in Utah

Payments Dive

X has been collecting money transmitter approvals in recent months to launch peer-to-peer payments in the app.

Utah 195
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Everything You Need to Know About Google and Yahoo’s Email Requirements in 2024

William Mills

Remaining at the forefront of policy changes and requirements, specifically for emails, is a top priority for our marketing team. As a HubSpot partner for 10 years, our agency must stay up to date on these changes for ourselves, our clients and our partners. HubSpot released this article discussing Google and Yahoo’s latest requirements for email marketing beginning in February 2024.

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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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Citizens to deliver on AI, data analytics in 2024

BankInovation

Citizens Bank is looking toward AI and generative AI technology to improve operational efficiency and client experience. The $222 billion bank has “many exciting things on our technology, our digital, data analytics and AI road map that we need to deliver on,” Chief Executive Bruce Van Saun said during the bank’s fourth-quarter earnings call today.

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Tennessee bank to pay $1.9M in redlining case

American Banker

As part of a settlement with the Justice Department, Patriot Bank must invest more than $1 million of the total in a loan subsidy fund for minority homeowners and take other corrective steps in its everyday business. The bank denied any wrongdoing.

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Q4 transactions: Ally, Microsoft team up on gen AI

BankInovation

In 2023, financial institutions continued to look to third-party vendors for innovative solutions to enhance their offerings. A December report by Scottdale, Ariz.-based bank and fintech advisory company Cornerstone Advisors of Arizona said U.S.

Arizona 72
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Citizens Bank reduced its workforce by 3.5% in the fourth quarter

American Banker

After the Rhode Island-based company eliminated 650 positions, severance-related costs contributed to a 71% decline in quarterly net income.

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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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U.S. Bank tech spend up 12% to $513M

BankInovation

U.S. Bank made digital and operational investments during the fourth quarter as it focused on modernizing payments and technology. The $668 billion, Minneapolis, Minn. bank spent $513 million on technology and communication during Q4, up 12% year over year, according to its Q4 2023 earnings presentation. U.S.

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Varo has embedded free tax filing in its app

American Banker

The digital-only bank is among the first to offer such a feature, which can make a bank and its checking account stickier.

Taxes 91
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Accenture partners with SandboxAQ for AI-driven data solutions

The Paypers

Global professional services company Accenture has partnered with SandboxAQ to deliver artificial intelligence (AI) and quantum computing solutions.

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Conservative judges look to weaken federal agency power in 'Chevron' cases

American Banker

At least four conservative judges on the Supreme Court, a formidable group at the oral argument stage, appear ready to overturn 'Chevron' deference, which could have massive consequences for bank policy.

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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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Payhawk secures EMI licence in the UK

The Paypers

Global spend management solution Payhawk has obtained an Electronic Money Institution (EMI) licence in the UK granted by the Financial Conduct Authority.

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Fresh off one merger deal, Indiana credit union unveils another

American Banker

Centra Credit Union in Columbus, Indiana — which completed a merger with NorthPark Community Credit Union this month — has agreed to absorb Hoosier Hills Credit Union. The latest deal would create a $3 billion-asset institution.

Indiana 48
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Payroc launches PayByCloud

The Paypers

Payment processing platform Payroc has announced the launch of PayByCloud, a low-code semi-integrated solution for ISVs that simplifies omnichannel payment integrations.

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What Visa's Web3 loyalty tool means for cash-back rewards

American Banker

As merchants push the government for relief from funding consumer card perks, the card network is exploring how to replace cash with digital incentives.

Tools 62
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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.

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Elevations Credit Union launches with Alkami's banking platform

The Paypers

Alkami Technology , a digital banking solutions provider, has announced that Elevations Credit Union has launched with its online business and retail banking platform.

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David Stevens, mortgage icon, dead at 66

American Banker

The former Obama administration official and MBA head died unexpectedly on Jan. 16.

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DataVisor receives PCI certification

The Paypers

AI-powered fraud and risk platform DataVisor has announced that it received its PCI certification under the Payment Card Industry Data Security Standard (PCI DSS).

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Santander's adding tech talent; Revolut's boosting mobile payments

American Banker

Worldline and Google partner team up for cloud computing; Global Payments works with Commerz in Germany.

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Confronting the Change Challenge

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.