Fri.Nov 17, 2023

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Fed's Barr says FedNow will complement the private RTP network

American Banker

Speaking at an event hosted by The Clearing House, the Federal Reserve's vice chair for supervision said he expects both instant payment processing systems to be widely adopted over time.

System 41
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Visa warns consumers about holiday fraud

Payments Dive

Better spelling on fake merchant sites and more advanced card skimmers are among the latest schemes that will be deployed by fraudsters during the year-end holiday shopping season.

Fraud 435
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Retail Deposits: Analyzing Deposit Stickiness in the Current Interest Rate Environment

Perficient

In our previous article, “ Transaction Accounts: Analyzing Deposit Stickiness in the Current Interest Rate Environment ,” Perficient’s Financial Services Risk Management and Regulatory Capabilities Center of Excellence (CoE) explored the sharp decline in transaction account balances over an 18-month period. Now, we will delve into the stability of retail deposits from the same bank over the same timeframe, determining whether they were resilient compared to transaction accounts.

Retail 221
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Fiserv doubles down on Clover growth

Payments Dive

CEO Frank Bisignano is betting on accelerated growth of Clover’s small business point-of-sale services, even as he admitted to being “paranoid” in the highly competitive market.

Marketing 397
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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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For faster loan origination, stop doing this

Abrigo

How to close more loans by speeding up lending and credit analysis Seeking a quicker loan origination workflow is worth it. Learn where to find opportunities for improvement. You might also like this on-demand webinar on the red flags of emerging CRE risk. WATCH Takeaway 1 A critical look at the existing steps for loan requests and credit underwriting helps uncover ways to offer faster loan decisions.

Lending 221

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The true cost of fraud

Abrigo

Measuring the cost of fraud losses. The true cost of fraud goes beyond the initial reported fraud losses Would you like other articles like this in your inbox? Takeaway 1 Fraud scams made worse by the pandemic continue to be successful, while crypto-scams are emerging. Takeaway 2 A worsening economy increases the fundamentals of fraud, pressure, opportunity, and rationalization.

Fraud 195
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Change the Game With New Ideas and Exciting Possibilities: Reflecting on 2023’s Jack Henry™ Connect

Jack Henry

Dive into fintech revelations from Jack Henry Connect! From Jack Henry Platform to Financial Crimes Defender and FedNow insights. Shape banking's future.

Fintech 122
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Authentic experiences: How your brand can reach Gen Z for success and customer loyalty

ATM Marketplace

The APC Gen Z study found that Gen Z has five top demands from businesses and brands: 1. Authenticity. 2. PhysiDigital. 3. Experiential. 4. Custom. 5. Rewards.

Branding 118
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UK savers urged to act quickly for best returns as rates drop

TheGuardian

NS&I, Shawbrook and Tandem among providers to make reductions amid flurry of such moves Savers have been urged to act quickly if they want to get the best returns on their money after a flurry of interest rate cuts on top-paying accounts. This week NS&I reduced the rate it offers on its three-year green bonds from 5.7% to 3.95%, while Shawbrook, Tandem and Ford Money were among other providers making cuts.

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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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ATM, Self-Service Software guide offers exclusive information on industry

ATM Marketplace

The 2023 ATM and Self-service Software Trends Guide delivers in-depth research based on interviews and survey data from financial institutions worldwide on how they are utilizing ATMs.

ATM 82
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Early cracks start to show in banks' commercial loans

American Banker

Credit problems in business loans have risen in recent months, as companies that are in a weak financial position have started closing up shop. The difficulty in gauging which banks will face the most trouble is prompting many investors to stay away from the sector.

Company 85
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UK mortgage arrears rise as borrowers feel squeeze, says Nationwide

TheGuardian

Building society benefits from high interest rates, with half-year profits increasing to £1.3bn Nationwide has warned that mortgage arrears are rising as the building society reported increased profits on the back of higher interest rates. Higher borrowing costs after the Bank of England raised interest rates 14 times since the end of 2021 have caused financial pain for some mortgage holders while benefiting savers.

Report 84
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Fintech funding: Mega rounds increase 50% QoQ

BankInovation

Global fintech funding dropped marginally in the third quarter sequentially, but deals worth more than $100 million substantially increased as funding remained below 2019 levels. As global fintech funding reached $7.4 billion in Q3, it was down 46% year over year, according to CB Insights’ State of Fintech Q3 report published last month.

Fintech 72
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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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Apple reveals a new Apple Pay account balance feature for UK clients

The Paypers

Apple has revealed a new Apple Pay account balance feature that allows UK-based customers to access information such as balance and spending history.

Apple 73
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D.L. Evans Bank saves $1M with Laserfiche automation

BankInovation

D.L. Evans Bank has been working with and expanding the use of software company Laserfiche capabilities for 25 years, resulting in paper, monetary and time savings throughout the bank. Through the tech provider, the $3.

Idaho 69
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Afterpay collaborates with Rokt to enhance its advertising business

The Paypers

Australia-based BNPL provider Afterpay has partnered with ecommerce tech company Rokt to offer shoppers more relevant ecommerce experiences.

Company 68
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OpenAI ousts Sam Altman; Chase discloses carbon emissions

American Banker

A convicted Goldman executive seeks to lower his legal bills, OpenAI's board has ousted its founder and CEO and several bank leaders are taking on new roles, and more in the weekly banking news roundup.

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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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Capchase partners with Grasshopper bank

The Paypers

US-based Grasshopper Bank has partnered with Capchase to enable its SaaS clients with access to the latter’s funding options.

US 68
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Is your ATM running? AI can catch it (if it's not).

American Banker

Diebold Nixdorf is using artificial intelligence to spot trouble proactively — a move that has already increased ATM uptime by up to 3.5%.

ATM 69
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Plinqit partners with Bankjoy

The Paypers

Plinqit has partnered with Bankjoy , a digital banking provider across the US, to help financial institutions grow deposits and promote healthy saving habits.

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Blue Ridge Bank begins offboarding at least a dozen fintech partners

American Banker

The banking-as-a-service pioneer has been reeling from the business since an enforcement action from a federal regulator last year.

Fintech 50
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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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Zodia Markets announces a strategic partnership with Triple-A

The Paypers

Standard Chartered-backed Zodia Markets has announced a strategic partnership with Singapore-based digital currency payment institution Triple-A.

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Hacker chutzpah: Ransomware group says it reported victim to SEC

American Banker

The cybercriminals said a new SEC rule required loan software company MeridianLink to report last week's breach, but the rule does not take effect until next month.

Report 41
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Ant International reveals treasury management solutions

The Paypers

Ant International , the international business unit of Ant Group , has revealed its treasury management solutions enabled by Web3 technologies.

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Big banks will pay higher-than-expected deposit insurance fee

American Banker

The Federal Deposit Insurance Corp. has finalized a special assessment that is slightly pricier than originally proposed for banks with uninsured deposits of more than $5 billion. Trade groups voiced concerns that the largest banks are paying to clean up a mess created by regional banks.

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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.