Tue.Jun 11, 2024

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World’s top banks ‘greenwashing their role in destruction of the Amazon’

TheGuardian

Institutions alleged to have given billions of dollars to oil and gas companies involved in projects that are harming the rainforests Five of the world’s biggest banks are “greenwashing” their role in the destruction of the Amazon, according to a report that indicates that their environmental and social guidelines fail to cover more than 70% of the rainforest.

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Cash use persists in US beyond pandemic

Payments Dive

Consumers remained committed to cash use last year, even as the share of card payments rose and online payments increased, according to an annual Federal Reserve study.

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Statistical Evidence on What Hurts Bank ROE

South State Correspondent

FDIC-insured “Problem Banks” list has been increasing over the past two years. For the community banking industry (banks under $10B in assets), this is particularly troubling as the number of community banks earning negative return on equity (ROE) spiked to 237 institutions in Q1/24, or 5.71% of all community banks. Bank ROE is now a problem. We aim to explain the reason for this spike in the percentage of unprofitable community banks so that bankers can better manage their business model.

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Upcoming ISO 20022 transition leaves some finance players scrambling

Payments Dive

The move to ISO 20022 is coming late next year and many financial institutions remain unprepared for the switch.

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Fall In Love With the Month-End Close

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.

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How to avoid customer transformation pitfalls

ATM Marketplace

How can banks successfully deliver customer transformation initiatives? A panel at the upcoming Bank Customer Experience Summit from Sept. 9 to 11 in Charlotte will offer the secret ingredients to a successful transformation.

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Apple launches Tap to Cash, BNPL

BankInovation

Apple has announced new features for Apple Wallet and Apple Pay.

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PayPal hires high-ranking marketing gurus to delve into payments data

American Banker

PayPal has brought on expert pitchmen from Uber and Plaid to build an advertising platform for merchants. Its rivals are on a similar path.

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Podcast: How FIs can tackle cloud migration cost increases

BankInovation

Financial institutions can look to financial operations strategies to manage costs when moving their operations to the cloud.

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U.S. Bank announces partnership with Greenlight to provide family app

American Banker

The $684 billion-asset institution adopted the family finance fintech's app and linked debit cards to provide account holders with tools for educating their children about the financial system.

Tools 83
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5 Ways You Can Win Faster with Gen AI in Sales

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.

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Barclays payments leader to speak at Bank Automation Summit Europe 2024

BankInovation

Ross Jones, global head of corporate payments at Barclays, will speak at Bank Automation Summit Europe 2024 about the instant payments landscape in the European Union. The summit takes place Oct. 7-8 at the Hilton Frankfurt in Frankfurt, Germany, and brings together industry experts to discuss innovation in AI, banking automation and payments.

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Bank of America alum spearheads investing app for women

American Banker

WealthMeUp, an app that educates users on investing and other financial concepts, eventually wants to turn users' cash-back into investing dollars.

America 78
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Morpher equips traders with AI-driven market insights

The Paypers

Austria-based trading app Morpher has launched Morpher AI, a tool that facilitates market analysis and decision-making for traders.

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Three more minority banks get a deposit boost from State Street

American Banker

The Boston-based custody bank will place deposits at Carver State Bank, Citizens Trust Bank and Ponce Bank as part of its broader effort to help reduce the wealth gap. State Street plans to place a total of $100 million of deposits at minority depository institutions this year.

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The Role of Automation in Commercial Lending

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.

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SJ AB selects Extenda Retail and Softpay for its payment processes

The Paypers

Sweden’s passenger rail service SJ AB has partnered with Extenda Retail and Softpay to deliver augmented payment experiences across its network.

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White House, CFPB seek to ban medical debt from credit reports

American Banker

Fifteen million Americans who owe a combined $49 billion in medical debt would benefit from a proposal by the Consumer Financial Protection Bureau to scrub medical debts from credit reports and ban their use in underwriting decisions.

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Citi launches Citi Real-Time Funding for corporate clients

The Paypers

US-based bank Citi has introduced Citi Real-Time Funding (RTF), a liquidity solution that facilitates 24/7 account funding and streamlines treasury processes.

US 41
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One tweak to SEC policy would channel capital to small businesses

American Banker

Nearly 20 years ago, the SEC made business development companies subject to an obscure reporting rule that pushed them out of major index funds. Reversing course would be a major boon to small businesses.

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10 Ways to Leverage Buyer Signals and Drive Revenue

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.

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Kani Payments partners CLOWD9 for data reporting

The Paypers

Kani Payments , known for its global data reconciliation and reporting platform, has been chosen by CLOWD9 to enhance its data reporting and reconciliation capabilities globally.

Report 41
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Citi's Titi Cole on what's changed in banking: The Climb

American Banker

As she prepares to leave to run a nonprofit after three decades in the industry, Cole said the financial services sector is better for women — but still has a long way to go.

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Worldwide Cash Express partners with TerraPay

The Paypers

Worldwide Cash Express has announced its partnership with TerraPay in order to optimise cross-border payment experiences for customers and clients.

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There are too many cooks in the interchange kitchen

American Banker

Illinois' recent move to prohibit the inclusion of taxes and tips in credit card interchange fees suggests that electronic transactions are too expensive and also that there are too many entities working unilaterally to reduce those costs.

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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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South Korea considers eliminating crypto tax law

The Paypers

The South Korean National Assembly Legislative Research Service has mentioned a possible crypto tax elimination debate in its policy guidebook.

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Kansas City bank has no plans for a pause after striking deal

American Banker

Dickinson Financial in Missouri has no intention of departing from its expansionary mindset as it lays plans for de novo branches and scouts new acquisition opportunities.

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Temenos partners with Eurobank Cyprus

The Paypers

Financial institution Eurobank Cyprus has gone live on Temenos , aiming to complete a full IT refresh of its core and digital banking systems.

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How to Automate with the Banking Customer in Mind — and Create A Smoother CX

The Financial Brand

This article How to Automate with the Banking Customer in Mind — and Create A Smoother CX appeared first on The Financial Brand. Automation tools simplify transactions, ensuring customer satisfaction and loyalty. In today's informed market, banks must capitalize on customer engagements — or risk reputational damage. This article How to Automate with the Banking Customer in Mind — and Create A Smoother CX appeared first on The Financial Brand.

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Signal-Based Selling: How to Leverage 4 Key Buying Signals

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.