Tue.Jun 18, 2024

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APIs Are the Building Blocks of Bank Innovation. But They Have a Risky Dark Side

The Financial Brand

This article APIs Are the Building Blocks of Bank Innovation. But They Have a Risky Dark Side appeared first on The Financial Brand. APIs increasingly drive banks' digital progress, but fraud and security risks are also accumulating rapidly. This article APIs Are the Building Blocks of Bank Innovation. But They Have a Risky Dark Side appeared first on The Financial Brand.

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Solving the puzzle: How interoperability eases banks’ core modernization dilemma

Accenture

If it wasn’t already apparent, the sudden emergence of generative AI has certainly confirmed it: the ability to quickly respond to new challenges and opportunities is a critical attribute of any successful organization, including banks. The agility that allows an organization to respond effectively is influenced by several factors, such as skills, culture and corporate… The post Solving the puzzle: How interoperability eases banks’ core modernization dilemma appeared first on Accentu

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Overcoming Interest Rate Challenges in Banking

South State Correspondent

Deposit costs and liquidity remain a challenge for some community banks as competition for core funding remains intense. The graph below compares the liquidity ratio for community banks (under $10B in assets) and banks over $100B in assets. The average difference in liquidity is stark, but for many community banks the issue is translating to higher rates on deposits, margin squeeze, and lower profitability.

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Affirm CFO doesn’t expect profits from its Apple tie soon

Payments Dive

The company’s finance chief compared the rollout of its partnership with Apple to the launch of its own payment card, saying the company preferred a “very thoughtful and controlled” approach.

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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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7 cash management, recycler strategies to follow

ATM Marketplace

Many Teller Cash Recycler brands have become obsolete with limited parts. Some are even at end of life and are a security risk. Here are seven tips for how to keep them up to date.

More Trending

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Banks are setting SMBs up for success with new tech

BankInovation

Managing cash flow, tapping into data-driven insights and accessing capital: Small businesses are looking to their bank partners to provide digital solutions to streamline access to data, insights and cash. This has been “the No. 1 issue that small businesses have faced,” Matt Baker, board adviser at Uplinq, told Bank Automation News.

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HSBC’s Swiss private banking arm breached money-laundering rules, regulator finds

TheGuardian

Finma watchdog says bank failed to carry out adequate checks of two high-risk business relationships HSBC’s Swiss private banking arm breached money-laundering rules by failing to carry out adequate checks on the high-risk accounts of two politically exposed individuals, Switzerland’s banking regulator has found. HSBC Private Bank (Suisse) has been banned from taking on any new high-risk customers until it has completed a full review of its business relationships, Switzerland’s Financial Market

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Nearly half of Americans open to AI in banking

BankInovation

As the financial services industry is integrating AI in its offerings, consumers are becoming more accepting of the technology in day-to-day banking. “AI has been around in financial services and banking for 20 years,” Scott Hofmann, chief revenue officer at GFT Americas, told Bank Automation News.

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The downfall of Gemini Trust's crypto lending program

American Banker

As part of a deal with New York Attorney General Letitia James, the cryptocurrency exchange agreed to return more than $50 million in digital assets to investors involved in the now-defunct Gemini Earn program.

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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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nCino launches GenAI solution Banking Advisor

The Paypers

US-based cloud banking company nCino has rolled out its GenAI-powered conversational tool Banking Advisor to augment decision making and efficiency for bankers.

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The Supreme Court may soon defang bank regulators — especially the CFPB

American Banker

The high court will determine how much deference judges should give to regulators in interpreting laws passed by Congress. The upcoming ruling has especially big implications for the Consumer Financial Protection Bureau, which has drawn the banking industry's ire.

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Apple shuts down Pay Later feature

The Paypers

US-based multinational corporation and technology company Apple has announced that its Buy Now, Pay Later (BNPL) feature, Apple Pay Later, is no longer available for customers.

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FDIC, OCC find stakeholders hard to please with merger review guidelines

American Banker

The Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency issued proposals to update their bank merger review guidelines, but public comments reflect radically different attitudes from stakeholders about how high the bar to mergers should be.

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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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Glia partners with NCR Voyix

The Paypers

Customer interaction technology firm Glia has announced its partnership with NCR Voyix to integrate its capabilities into the latter’s digital banking platform.

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Lessons learned from Apple Pay Later for BNPL lenders and banks

American Banker

The rocky journey and abrupt end of the technology company's fledgling buy now/pay later service underscores ongoing challenges facing fintechs that offer point-of-sale installment loans, and how banks may benefit from the changing BNPL ecosystem.

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BBVA to start a digital bank in Germany

The Paypers

Banco Bilbao Vizcaya Argentaria has announced the plan to start the development of its digital bank for its customers and users in the region of Germany.

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We need to rely on facts when we measure banks' climate risk

American Banker

The best way for banks to alleviate the effects of extreme weather events is to continue to do what they do best — lend.

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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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Nexi and Engineering Group develop digital banking platform NOVA

The Paypers

Italy-based paytech Nexi and Engineering Group have partnered to work on launching NOVA, a digital banking platform that is comprehensive, scalable, and customisable.

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First Interstate Bank's acquisitive CEO to step down

American Banker

During nine years Kevin Riley led the Billings, Montana-based institution, it quadrupled its size, largely through deals. New leadership could mean that the company focuses less on M&A and more on integration.

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Revolut Singapore raises spending limits and launches new currency pocket

The Paypers

Revolut Singapore has announced that it has raised the holding and spending limits on its digital wallet and has launched a new currency pocket.

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TD Bank targets technology firms of all sizes with new division

American Banker

The Canadian institution will offer cross-border banking services, financing, wealth management and more with its new TD Innovation Partners platform.

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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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DeFi startup Qiro Finance secures USD 1.2 mln funding

The Paypers

Singapore-based DeFi startup Qiro Finance has received USD 1.2 million in pre-seed funding for its product development, workforce scaling, and ecosystem expansion.

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The CFPB is constitutional, and its opponents need to move on

American Banker

The Consumer Financial Protection Bureau has been opposed by the financial services industry to a greater or lesser degree since its inception, and its constitutional legitimacy has now been deeply litigated. The bureau could still be dismantled — just not by the courts.

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40Seas unveiles all-in-one Global Accounts Receivable solution

The Paypers

Israel-based fintech 40Seas has announced the rollout of its all-in-one Global Account Receivable solution to streamline credit, risk, and invoice management.

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Warren pushes Powell to tee up Basel vote

American Banker

Sen. Elizabeth Warren, D-Mass., an influential progressive member of the Senate Banking Committee, decried reported meetings between Federal Reserve Chairman Jerome Powell and large bank CEOs who want the Basel III endgame proposal weakened.

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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.