Mon.Jul 01, 2024

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Navigating the storm: Strategic focus areas for retail banks in uncertain times

Accenture

In part one of my blog, I explored how current macroeconomic events are akin to a solar storm and the Northern Lights are the manifestation of the banking industry’s reaction to uncertainty. In part two, I will discuss key areas banks should focus on to avoid becoming paralyzed by the challenges they face. Over the… The post Navigating the storm: Strategic focus areas for retail banks in uncertain times appeared first on Accenture Banking Blog.

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How buy now, pay later benefits merchants

Payments Dive

Research from online payments processor Stripe found that providing BNPL increases the average size and total number of sales.

Online 393
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S&P’s gen AI tool provides up to 60% efficiency gains

BankInovation

Data insights company S&P Global is developing internal- and external-facing generative AI tools to boost efficiencies — and it hopes to monetize the technology by offering it to customers.

Tools 127
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Visa-Mastercard settlement failed to treat merchants ‘equitably’

Payments Dive

A proposed Visa-Mastercard settlement failed partly because a judge overseeing the case determined large merchants wouldn’t benefit as much as smaller merchants.

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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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Guest Post: 2Q Financial Markets and Economics Update - Second Quarter 2024

Jeff For Banks

Financial Markets Update – Second Quarter 2024 A dream vacation! I went with family and friends to Holland and Belgium during peak tulip season during April. It was so beautiful and lots of fun. We saw so many fabulous places, including Amsterdam, Kinderdijk and its windmills, Keukenhof Gardens, Brussels, Bruges, and Antwerp. We learned how Holland keeps the floodwaters away.

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Fingerprints and Valid to launch biometric payment card in Brazil

The Paypers

Sweden-based biometrics company Fingerprint Cards (Fingerprints) has partnered with paytech Valid to develop a biometric payment card for the Brazilian market.

Cards 88
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Inside look: Payments-as-a-service

BankInovation

Payments go beyond the transfer of money, and financial institutions can customize each step of the process through vendor selection.

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American Banker news quiz: July 1

American Banker

In this edition of American Banker's news quiz, test yourself on the Synapse bankruptcy, the growth of alleged violations of the Fair Credit Reporting Act, Funding Circle's sale of U.S.-based assets and more.

Report 74
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Shopify Amazon Pay partnership to end

The Paypers

Shopify has announced to its users and customers in the region of Europe that Amazon Pay will no longer be available as a payment option starting in August this year.

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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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Banks' use of credit risk transfer transactions is opaque and risky

American Banker

CRTs have changed since the financial crisis. But the eventual credit cycle turn is likely to show again that weaker banks' CRT use merely transformed, but did not eliminate, risk.

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BIS to launch cross-border payments platform

The Paypers

The central banks of India, Malaysia, Thailand, Singapore, and the Philippines have announced their plans to launch an instant cross-border retail payments platform.

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What banks should know about SCOTUS' 'swipe fee' ruling

American Banker

The court didn't rule on the merits of any regulation, but made it much easier to challenge rules governing banking.

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Monzo introduces additional security controls

The Paypers

UK-based digital bank Monzo has announced the launch of additional app-based security control tools to safeguard individuals’ savings whose phones were stolen by criminals.

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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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Exclusive: Brown urges Synapse partners to restore consumer funds

American Banker

Sen. Sherrod Brown, D-Ohio, chairman of the Senate Banking Committee, told Synapse's partner banks, fintech companies and investors to pool together resources to immediately restore customer's access to deposits frozen in lengthy bankruptcy proceedings.

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BlackRock to acquire Preqin

The Paypers

Global asset manager BlackRock has entered an agreement to acquire UK-based data firm Preqin for USD 3.23 billion in cash and further expand its presence in alternative investments.

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How JPMorgan Chase is fraud-proofing its branches

American Banker

The bank has seen positive returns expanding its national branch network, but it is contending with fraudsters who are increasingly targeting branches.

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Mashreq expands its reach with Oracle

The Paypers

UAE-based bank Mashreq has expanded its partnership with Oracle Financial Services to support its growth globally.

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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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Top executives at collapsed crypto bank Silvergate hit with SEC charges

American Banker

Silvergate's former CEO and onetime chief risk officer settled allegations that they misled investors about the strength of the bank's anti-money laundering compliance program. Meanwhile, Silvergate's former CFO denied separate allegations by the SEC and vowed to defend himself in court.

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EBA CLEARING publishes user specifications for its Verification of Payee service

The Paypers

The provider of payment infrastructure solutions EBA CLEARING has announced the publication of user specifications for its Verification of Payee service.

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Are tech-enhanced metal payment cards better for security?

American Banker

Even as more transactions go fully digital via apps and devices, one card manufacturer is betting that metal payment cards have a long-term future as status symbols — and secure payment devices.

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Jumio reveals 74% of Singapore clients demand stronger cybersecurity measures

The Paypers

Jumio has launched new research that finds 78% of consumers in the region of Singapore are ready to switch banks over inadequate fraud protection.

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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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What Bang Do Financial Marketers Get for Their Bucks?

The Financial Brand

This article What Bang Do Financial Marketers Get for Their Bucks? appeared first on The Financial Brand. More marketing spend drove higher loan and deposit levels in all but one bank size category in 2023. But revenue boosts were more elusive. This article What Bang Do Financial Marketers Get for Their Bucks? appeared first on The Financial Brand.

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ECB reveals progress towards digital euro

The Paypers

The European Central Bank (ECB) has reported on progress made in the preparation phase of the digital euro, emphasising modernised payments, privacy, and EU autonomy.

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Happy Independence Day!

Image Works Direct

As someone who has many family members who have served, and are serving, in our armed forces, I have special appreciation for those who give up everything at home to put themselves in harm’s way to serve the good of our country. In the spirit of “the good,” let’s focus on our blessings during this Independence Day.

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Feather raises EUR 6 million

The Paypers

German startup Feather has announced the raise of a EUR 6 million funding round to expand in the Pan-European region with its insurance platform for expats.

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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.