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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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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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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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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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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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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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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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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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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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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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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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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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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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.

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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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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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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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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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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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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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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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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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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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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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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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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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FV Bank announces additional currency deposit options

The Paypers

FV Bank , a licensed global digital bank, has announced an expansion in its deposit capabilities that gives clients the option to deposit euros into their USD bank account.

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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.

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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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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.