Fri.Mar 22, 2024

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AI will transform banking

ATM Marketplace

Banks can use AI to improve customer experiences and provide a more personalized touch to their services, to streamline bank branch management and bolster security, creating the bank of the future.

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Digital wallets to overtake debit cards in stores: report

Payments Dive

Having already dominated e-commerce transactions, digital wallets are projected to overtake at least one traditional form of payment in stores, according a Thursday report by Worldpay.

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Fed's Barr working with Powell to find consensus on Basel III

American Banker

The Federal Reserve's vice chair for supervision says the board is discussing ways to address the various concerns banks have raised about the capital reform proposal.

Capital 99
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Advocates urge transparency in Capital One-Discover review

Payments Dive

More than 30 organizations demanded the deal not be subject to expedited federal review and that public hearings be held in the largest lending markets for both Capital One and Discover.

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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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HSBC urges investors to back AGM vote opening way to higher bonuses

TheGuardian

London-headquartered lender wants to take advantage of UK’s decision to scrap bonus cap Business live – latest updates HSBC is urging shareholders to back a vote at its annual meeting that would open the door to bigger bonuses for its highest-earning bankers. The London-headquartered lender wants to take advantage of the UK’s decision to scrap the banker bonus cap , which was introduced after the 2008 financial crisis and limited bonuses at twice an individual’s base salary.

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Credit union purchases of banks on pace for record after latest deal

American Banker

Harborstone Credit Union in suburban Lakewood, Washington, plans to buy Savi Financial. That's seven deals in less than three months this year; the highest full-year total was 16 in 2022.

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FedNow overtakes TCH in adoption

BankInovation

FedNow, launched just eight months ago, has overtaken its main competitor, The Clearing House’s Real-Time Payments network, in terms of the number of banks on the platform.

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The challenges unique to managing tech teams

American Banker

Technology executives at financial institutions must strike a balance between jumping on new technologies while justifying their business case for the bank.

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First-time buyers: how to pick a mortgage and the best UK deals

TheGuardian

Trying to choose between a fixed rate and a tracker, or thinking about getting help from family? Here are the options Trying to work out which mortgage is the right one for you can be daunting for anyone, but especially for a first-timer. There are more than 6,000 residential mortgage deals on the market right now. Here we run through some of the options and highlight some of the best rates currently on offer.

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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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60% of KeyBank automation team targets risk

BankInovation

NASHVILLE, Tenn. — KeyBank is working to automate as many risk controls as possible as threats continue to tick up.

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Apple vs. banks: The story so far

American Banker

The launch of Apple Pay a decade ago set the tone for how the tech giant would interact with banks and credit unions in the years to come. The Justice Department is now pushing back.

Apple 64
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The potential of AI-powered chatbots in banking customer support

BankInovation

Banking customer support is no walk in the park. Customers come with diverse problems, from lost cards to unclear charges, and they expect quick, precise solutions. Even the most experienced support teams can be overwhelmed by the variety and complexity of inquiries. The stakes are high in banking.

Cards 72
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Regulators tweak new CRA rules ahead of implementation date

American Banker

The change, which goes into effect April 1, delays when certain banks would have to change their assessment areas until 2026.

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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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Understanding the emerging bank M&A policy landscape

ABA Community Banking

The banking agencies and the Justice Department are shifting how they assess and review bank mergers and acquisitions. ABA's Hu Benton discusses what bankers need to know about potential deals and offers amid the wave of policy changes. The post Understanding the emerging bank M&A policy landscape appeared first on ABA Banking Journal.

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Link Money taps Silicon Valley Bank to scale Pay by Bank solution

The Paypers

US-based Open Banking payment platform Link Money has partnered with Silicon Valley Bank (SVB) to augment ACH processing and money movement for its merchants.

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First Independence Bank’s Kelly named MBA Banker of the Year

ABA Community Banking

The Michigan Bankers Association recently named Kenneth Kelly, chairman and CEO of First Independence Bank, as the recipient of the 2024 MBA Banker of the Year award The post First Independence Bank’s Kelly named MBA Banker of the Year appeared first on ABA Banking Journal.

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UK retailers report positive revenue impact from Embedded Finance

The Paypers

A new report by NatWest Boxed and BCG has showed that UK retailers have reported incremental revenue growth as a result of Embedded Finance.

Retail 48
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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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FDIC OIG says lax lending, poor risk management led to Iowa bank failure

American Banker

The FDIC Office of Inspector General attributed the downfall of Citizens Bank in November 2023 to lax lending practices and risk mismanagement by the Lange family, causing a $14.8 million loss to the regulator's Deposit Insurance Fund. The OIG saw no grounds for a more extensive review.

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Chime's SpotMe now available for members using Credit Builder

The Paypers

US-based fintech Chime has augmented its fee-free overdraft feature SpotMe by making it available for members using the Credit Builder Visa credit card.

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Large firms seeking mergers face long odds under proposed FDIC policy

American Banker

The FDIC's newly unveiled policy statement on bank mergers could add strain to an already bleak outlook for mergers in the banking industry, particularly for larger banks.

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Flywire integrates with VTEX

The Paypers

US-based payments company Flywire has partnered with digital commerce platform VTEX to deliver integrated payments to higher education institutions across LATAM.

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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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Citigroup, JPMorgan Chase will disclose new climate metric

American Banker

The two megabanks have agreed to release a ratio that measures their level of financing for low-carbon energy versus fossil fuels. The banks' moves follow pressure regarding climate change from entities associated with New York City's local government.

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Micropayment partners with Tink

The Paypers

Berlin-based Micropayment has announced its partnership with Tink in order to launch Pay by Bank at checkout and optimise its customer experience.

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Embrace empathy, the cornerstone of successful digital transformation

American Banker

Financial services companies must incorporate digital, technical and cognitive empathy into the way they think about delivering their products in a digitized future.

Company 36
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Silkpay and Market Pay enhance merchants' payment solutions

The Paypers

Silkpay has partnered with Market Pay to introduce advanced payment solutions for European merchants, leveraging PAX Payment POS terminals.

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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.