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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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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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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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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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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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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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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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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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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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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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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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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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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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 56
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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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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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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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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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Five Ways Banks Can Shift Branches from Transaction Centers to Value Drivers

The Financial Brand

This article Five Ways Banks Can Shift Branches from Transaction Centers to Value Drivers appeared first on The Financial Brand. Branch closures have slowed as banks realize their potential purpose and value. This article Five Ways Banks Can Shift Branches from Transaction Centers to Value Drivers appeared first on The Financial Brand.

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Walmart to end partnership with Capital One early

The Paypers

A US judge ruled that Walmart could end its credit card collaboration with Capital One early, as the bank failed to provide the needed level of client solutions.

Capital 41
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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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TD Bank launches new banking products

The Paypers

US-based financial institution TD Bank has announced the launch of TD Complete Checking and TD Early Pay, aiming to simplify and improve the banking experience.

US 41
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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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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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SCOPE FinTech Solutions and iDenfy augment fintech security

The Paypers

iDenfy has partnered with SCOPE FinTech Solutions to augment fintech security in response to the expanding European market and rising threat of financial fraud.

Fintech 41
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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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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.

Fraud 41
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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.