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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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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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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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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What are the tech solutions to Zelle fraud and scam resolution?

American Banker

Machine learning has a firm place in banks' fraud and scam detection work. But some are also experimenting with using generative AI to research and handle claims.

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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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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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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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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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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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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.

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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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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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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.

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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.

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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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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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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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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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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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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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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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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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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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Fintech Galaxy partners with Yabx

The Paypers

Fintech Galaxy has disclosed a strategic collaboration with Yabx , a company specialising in alternative data-driven lending and management of loan portfolios.

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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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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.