Thu.Mar 28, 2024

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Banks Should Make 2024 a True ‘Year of Digital’

Gonzobanker

Banks and credit unions won’t find a perfect digital vendor. What they can find is the right partner to fulfill their strategic needs. 2024 will prove to be a remarkably busy year in the digital space, when many financial institutions will make near-life-or-death choices about the future of their digital platforms and how they will support them.

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Markup matters: monetary policy works through aspirations

BankUnderground

Tim Willems and Rick van der Ploeg Since the post-Covid rise in inflation has been accompanied by strong wage growth, interactions between wage and price-setters, each wishing to attain a certain markup, have regained prominence. In our recently published Staff Working Paper , we ask how monetary policy should be conducted amid, what has been referred to as, a ‘battle of the markups’.

Policies 137
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Integrated Financial finds new buyer in Capital Bancorp

American Banker

Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.

Raleigh 83
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The Power of Machine Learning in Transaction Monitoring

BankInovation

In the banking industry, transaction monitoring stands as a critical pillar of defense against fraud, money laundering, and other illicit activities. While traditional methods have served their purpose, the landscape is evolving, demanding a more sophisticated approach. This is where machine learning emerges as a key driver, offering remarkable capabilities in transaction monitoring.

Fraud 74
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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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AI's potential for handling customers' complaints

American Banker

Synovus Financial demonstrated at an industry conference how it is using Microsoft's Copilot to help its staff address customers' concerns.

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Looking back: The fall of crypto giant Sam Bankman-Fried

American Banker

Once a prominent figure spurring financial institutions to engage in cryptocurrency, Bankman-Fried's downslide began with the collapse of the digital asset exchange FTX in late 2022 and hit rock bottom with his sentencing to 25 years in prison.

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Bankman-Fried is sentenced to 25 years in prison over FTX collapse

BankInovation

FTX co-founder Sam Bankman-Fried was sentenced to 25 years in prison for stealing billions of dollars from customers, marking the final chapter in a case that has upended the crypto industry. US District Judge Lewis A.

US 69
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Santander adds ex-Marcus head to lead retail banking and digital push

American Banker

The U.S. arm of Spanish banking giant Santander has hired Swati Bhatia to oversee retail banking and its digital transformation efforts. Bhatia joins at "an inflection point" for the company, which aims to be "a digital bank with branches," CEO Tim Wennes said.

Retail 62
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Banks, fintechs back in the M&A game

BankInovation

Mergers and acquisitions are heating up after a subdued 2023, with investors on the hunt for strategic deals, especially in the fintech and financial services industries.

Fintech 61
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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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Clairvoyance isn't in anyone's job description, so don't expect it

American Banker

Managers often find themselves frustrated that their expectations aren't being met. Instead of assuming the worst about employees, first ask yourself whether you have clearly expressed what you want from your team.

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Discover: AI accelerates RPA lifecycle

BankInovation

Discover Financial Services is looking to AI to help boost its coding and robotic process automation efforts. When implementing robotic process automation (RPA), “you don’t just say, all right we have automation, we’re done.

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20 bank holding companies with the largest credit card loan portfolios

American Banker

The top five bank holding companies have combined total credit card loan portfolios of more than $705 billion.

Cards 70
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allpay partners with Crown Commercial Service

The Paypers

allpay has been appointed as the supplier of Crown Commercial Service ’s Open Banking and Fund Administration & Disbursement Services Dynamic Purchasing Systems.

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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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How KeyBank's approach to fintechs set the tone for product development

American Banker

The bank is launching KeyVAM, a virtual account management offering it designed with fintech Qolo. Both companies said the nature of the relationship was as important as the technology it produced.

Fintech 73
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Worldline partners with Lidio

The Paypers

France-based digital payments firm Worldline has announced that Turkey’s Central Bank ( TCMB ) approved its collaboration with fintech company Lidio.

Fintech 45
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Marsh's Oliver Wyman promotes Rosberg, ZayZoon raises 15 million

American Banker

Mariya Rosberg is named Americas head of banking and financial services at Marsh McLennan's Oliver Wyman unit; startup ZayZoon raised $15 million in a new funding round; and more in the weekly banking news roundup.

America 36
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Mine launches MineOS AI Asset Discovery

The Paypers

Israel-based data privacy company Mine has rolled out MineOS AI Asset Discovery, an Ai governance solution for visibility and control over enterprise AI systems and data.

System 41
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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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A road map for how to do good

American Banker

In her new book, "Higher Ground," Alison Taylor, a business school professor, dives into how executives can grapple with thorny social and environmental challenges while ensuring an ethical culture within their companies.

How To 36
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Paysend partners with Currencycloud

The Paypers

UK-based fintech Paysend has chosen Currencycloud to boost its FX and treasury capabilities, becoming a key partner for cross-border money movement.

Fintech 45
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How to tie everyone to PROFIT [VIDEO]

The Emmerich Group

Does every team member on your team know how they tie to profit? I mean really know? When a study published in Businessweek revealed they had asked 6,000 employees, “Do you perform in the top 10 percent?” more than 90 percent said they performed in the top 10 percent! Whoa. So yes, you likely have a problem. And no, your people don’t really understand how they tie to profit—but they certainly think that they do.

Video 36
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Monzo signs up for 159 anti-fraud service

The Paypers

UK-based digital bank Monzo has signed up for 159, the phone service that connects individuals with their bank when they receive a suspect call on financial matters.

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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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Buy the People: Red as Rust — Sherrod Brown's battle for Ohio's populist vote

American Banker

Senate Banking Committee Chairman Sherrod Brown faces a tough 2024 campaign to recapture his Ohio senate seat in a state that's increasingly Red. Can the same state that elected conservative populist firebrand J.D. Vance also re-elect Sherrod Brown? And what do the political undercurrents apparent in Ohio mean for banks?

Ohio 37
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Google Wallet integrates verification settings on Android

The Paypers

Google Wallet has announced that it introduced an additional verification settings menu for Android devices, enabling users to have a more secure payment experience.

Google 41
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Mortgage rates slip, helping spring home purchase activity

American Banker

But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.

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Plaid announces new partnerships to combat fraud

The Paypers

Plaid has announced its partnerships with Sandbox Banking and RealPage in order to prevent fraud across several markets and ensure a more secure customer experience.

Fraud 41
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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.