FTC warns of cash losses to government impostors
Payments Dive
JUNE 20, 2024
The median loss paid in cash to government impersonation scammers in the first quarter was $14,740, far above the $1,000 median for all payment types.
Thu.Jun 20, 2024
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Why You Need Bank Product Management
South State Correspondent
JUNE 20, 2024
Banks don’t have enough product managers. A bank has a leader for a business line but usually only caretakers for products. A manager may oversee the operation of a product, but few banks have product managers who drive product development and performance. As a result, bank performance suffers. The magical equation is more profitable products to more profitable customers, and one way to positively influence this formula is to make more profitable products.
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Faster payments catch on slowly: survey
Payments Dive
JUNE 20, 2024
About half of payments players surveyed recently by the U.S. Faster Payments Council said they have integrated faster payment technologies.
The Next Killer Digital Banking Feature Doesn’t Come from Being ‘Boring’
Gonzobanker
JUNE 20, 2024
Bankers are not meant to be renegades, but now is not the time to shy away from deploying new ideas. Right now, one of the trendiest words in banking is living up to the industry’s stereotype — “boring.” Cue the Patagonia sweater vests and soft jazz music. According to a Businessweek article , the word boring has been used by bank execs and analysts at least a dozen times on banks’ conference calls as of May this year.
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.
5 questions with … Morgan Stanley Head of AI Jeff McMillan
BankInovation
JUNE 20, 2024
Morgan Stanley’s Jeff McMillan, head of firmwide artificial intelligence, is focused on developing and deploying AI throughout the operations of the $212 billion financial institution. The New York-based FI appointed McMillan to the newly created position March 14, he told Bank Automation News.
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OneAZ Credit Union to explore using blockchain technology
American Banker
JUNE 20, 2024
"We're in an era of instant gratification, where we're not compared to other financial institutions, but rather to companies like Amazon, Apple, Google and Facebook," says Chief Technology Officer Sandeep Uthra.
NatWest agrees to acquire Sainsbury’s retail banking unit
BankInovation
JUNE 20, 2024
NatWest Group Plc has agreed to acquire J Sainsbury Plc’s banking business as the British lender looks to seize more market share in retail banking. Britain’s second-largest grocer agreed to pay NatWest £125 million ($159 million) as part of the transaction, the companies said in a statement on Thursday.
Bank of Hawaii, hit by unrealized bond losses, eyes capital raise
American Banker
JUNE 20, 2024
The Honolulu bank is raising $165 million through depositary shares, a move that two observers said would help boost its below-average leverage ratio.
WSPN and DigiFT forge Web3 partnership
The Paypers
JUNE 20, 2024
Digital payments company WSPN has partnered with DigiFT , an on-chain exchange for real-world assets (RWA), to advance stablecoin adoption and Web3 solutions globally.
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.
We need to help people learn how to talk about their finances
American Banker
JUNE 20, 2024
Financial services professionals should be in the business of normalizing discussions about personal finance. The result will be a more financially literate population, and that's good for everyone.
NatWest to buy most of Sainsbury’s Bank
TheGuardian
JUNE 20, 2024
Deal comes after retailer’s strategic review concluded banking operations could distract from core grocery arm Business live – latest updates NatWest has struck a deal to buy most of Sainsbury’s banking business, adding 1m customer accounts in the latest wave of consolidation in the sector. The lender is to take on the bulk of Sainsbury’s Bank assets including its outstanding credit card, unsecured personal loan and savings accounts.
How close is the payments tech industry to a turnaround?
American Banker
JUNE 20, 2024
Publicly traded companies are showing signs of improvement, but it may take some time until venture capital funding for fintechs recovers.
Treasury Prime partners with FS Vector
The Paypers
JUNE 20, 2024
Treasury Prime , an embedded banking software provider, has announced a strategic partnership with the regulatory advisory firm FS Vector.
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.
FHFA seeks input on Home Loan banks' affordable housing program
American Banker
JUNE 20, 2024
The Federal Housing Finance Agency wants feedback on how the Federal Home Loan banks can improve their affordable housing programs, including efficiencies in the application process.
Unlimit partners with Convera
The Paypers
JUNE 20, 2024
Global fintech company Unlimit has announced its partnership with Convera in order to simplify tuition payments for students in multiple developing countries.
AI for banking faces trust hurdles, FINRA Foundation study says
American Banker
JUNE 20, 2024
The regulator's education arm compared consumers' reactions to financial information after being told it was generated by AI versus a human.
Loop partners with J.P. Morgan Payments
The Paypers
JUNE 20, 2024
Loop, an audit and payment platform specialising in the next-generation supply chain, has unveiled a strategic partnership with J.P. Morgan Payments.
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.
FDIC board approves stricter resolution plans, faster merger reviews
American Banker
JUNE 20, 2024
The FDIC Board Thursday approved stricter resolution plans for larger banks and introduced a new bipartisan procedure to expedite merger application reviews.
Corpay to acquire GPS Capital Markets
The Paypers
JUNE 20, 2024
US-based business payments provider Corpay has entered into a definitive agreement to acquire fintech company GPS Capital Markets.
How Banks Can Get Past the AI Hype and Deliver Real Results
The Financial Brand
JUNE 20, 2024
This article How Banks Can Get Past the AI Hype and Deliver Real Results appeared first on The Financial Brand. Don't get swept along by GenAI hype. Know what your bank is doing — and why, says a Forrester expert. This article How Banks Can Get Past the AI Hype and Deliver Real Results appeared first on The Financial Brand.
Ramify raises EUR 11 million
The Paypers
JUNE 20, 2024
France-based Ramify has raised EUR 11 million in Series A funding round, to accelerate product development and offer optimised wealth management services.
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.
Massachusetts mutual bank holding companies to merge
American Banker
JUNE 20, 2024
PeoplesBank and Cornerstone Bank entered into an agreement to combine their holding companies in a deal slated to close early in 2025. The banks would continue to operate separately.
Sumsub and Finastra partner to strengthen banking industry compliance
The Paypers
JUNE 20, 2024
UK-based verification platform Sumsub has partnered with financial software provider Finastra to aid financial institutions with compliance processes.
Judge deals blow to Colorado's crackdown on high-cost loans
American Banker
JUNE 20, 2024
A federal judge granted a preliminary injunction sought by industry groups that sued to block a Colorado law. The law, which would cap interest rates on consumer loans, targets partnerships between fintechs and out-of-state banks.
Alternative Payments launches DPMaxBrazil
The Paypers
JUNE 20, 2024
US-based global payment infrastructure provider Alternative Payments has announced the launch of DPMaxBrazil, allowing US merchants to have access to PIX in Brazil.
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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