Fri.Sep 20, 2024

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Core banking transformation: strategies for modernization and value creation 

Accenture

The advantages of cloud technologies are widely recognized, offering enhanced productivity, agility, resilience, and innovation. Despite these benefits, the Financial Services industry lags behind other sectors in adopting cloud technology. According to our Cloud Rotation Index study, only 15% of banks’ workloads had been migrated to the cloud by the end of 2022.

Strategy 195
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Walmart, Fiserv team to offer real-time payments

Payments Dive

The retail giant and payments processor are targeting next year for offering consumers a real-time payment option online.

Payments 435
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What is Money Dysmorphia? Here’s All You Need to Know!

BankBazaar

Did you just picture your hard-earned money crawling down a d imly lit st airway on all fours after a botched exorcism ? Money dysmorphia is a much darke r threat , here is all you need to know. Do you feel increasingly insecure about your financial situation, no matter what the reality is? Is it too hard to shrug off this gnawing sense of financial inadequacy?

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Amazon adds PayPal option to Buy with Prime

Payments Dive

The e-commerce platform will also let consumers connect their PayPal and Prime accounts next year, and access free shipping via Buy with Prime on some merchants’ sites.

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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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Big tech pulls back on in-house financial services innovation

BankInovation

Tech giants are bailing out on in-house financial services innovation as they look to embed their offerings into third-party vendor platforms. “After nearly a decade or more of big tech companies venturing into launching their own financial products, many of the major players have now pulled back,” Laura Kennedy, principal analyst at think tank CBInsights, […] The post Big tech pulls back on in-house financial services innovation appeared first on Bank Automation News.

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Grasshopper reduces manual reviews with Alloy risk solution

BankInovation

Grasshopper Bank has reduced manual reviews in its onboarding process by 57% through fintech Alloy’s risk-management solution. The bank implemented Alloy’s Identity Risk Solution in March 2022. At the time, 20% of its applications were reviewed manually to monitor for fraud, Lauren McCollom, head of embedded finance at Grasshopper, told Bank Automation News.

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Major retail banks in Singapore to introduce SFV to mitigate phishing

The Paypers

The Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS) have announced that major retail banks are set to implement Singpass Face Verification (SFV).

Retail 72
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Women's financial empowerment has come a long way, but work remains

American Banker

In the U.S. and around the world, women still face many barriers to financial inclusion, and workplace practices that make it more challenging for them to build wealth. It doesn't have to be that way.

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Astra Tech introduces Send Now, Pay Later service in the UAE

The Paypers

Astra Tech , a consumer technology holding company, has launched a service in the UAE called ‘Send Now, Pay Later’ (SNPL) through its Botim Ultra App.

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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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Banks most at risk of failing share these three red flags

American Banker

A new academic paper dives into the key factors that have caused bank failures over the past 160 years.

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Privado ID and Disco merge to advance chain-agnostic digital identity

The Paypers

Privado ID , formerly known as Polygon ID, has announced its merger with Disco , a company focused on multichain verifiable data and reputation management.

Data 68
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Territorial in Hawaii rebuffs offer, doubles down on sale to LA bank

American Banker

The Honolulu-based seller said it rejected a competing bid from an investor group and would stick with its plan to sell to Hope Bancorp for $78.6 million in stock.

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MSB and TerraPay simplify cross-border money transfers

The Paypers

Vietnam Maritime Commercial Joint Stock Bank (MSB) has partnered with TerraPay to enhance digital payment solutions by improving efficiency and reducing transaction costs.

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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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Texas' Liberty Capital and Southwestern strike deal; BNY buys Archer

American Banker

Liberty Capital Bancshares in Texas agreed to acquire in-state peer Southwestern Bancorp; BNY announced it will buy managed-account software company Archer; Louisiana is supporting crypto but pushing back on CBDCs; and more in this week's banking news roundup.

Texas 76
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Enercare partners with Stripe

The Paypers

Financial infrastructure platform Stripe has partnered with Canadian home and commercial services company Enercare to power its online payments experience.

Online 48
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How Walmart's using real-time payments to battle credit cards

American Banker

By enabling instant settlement for bank payments at checkout, the retailer is adding speed to an option that reduces card transaction fees. But getting consumer buy-in may be a challenge.

Cards 56
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Klarna launches AI chat-based shopping assistant

The Paypers

Klarna has improved its AI-powered shopping assistant with chat-based features, offering personalised recommendations, comparisons, reviews, and real-time price insights.

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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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How the alchemy of banking helped create the modern state

American Banker

In "Money and Promises," Paolo Zannoni, the historian, banker and executive deputy chairman of Prada, tells the tale of instances in which banks teamed up with governments to create financial instruments. Early bank innovations transformed debt into bank money, allowing cities and nations to thrive.

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AMINA Bank announces participation in Project Agorá

The Paypers

AMINA Bank has announced its participation in Project Agorá, an initiative led by the Bank for International Settlements (BIS) in collaboration with several central banks.

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Tense vote to avoid government shutdown may come next week

American Banker

Warnings, finger pointing, and political infighting have consumed talks around a continuing resolution, but the details of the upcoming funding package are expected to be ironed out over the weekend for a likely vote early next week.

DC 36
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NAB extends AWS partnership to boost technology and customer experience

The Paypers

NAB has extended its long-term partnership with Amazon Web Services (AWS) as part of its multi-cloud strategy, aiming to improve its technology capabilities and customer experiences.

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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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The economic cloud over the fed's half-point rate cut

American Banker

This week, Federal Reserve Gov. Michelle Bowman cast the first dissenting vote at an FOMC meeting in years. On Friday, she explained why the economic data she's seen didn't convince her of the need to cut rates as much as her fellow governors thought.

Meeting 36
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Commerzbank, Crypto Finance to provide digital assets to corporate banking clients

The Paypers

Germany-based Commerzbank has teamed up with Crypto Finance , a subsidiary of Deutsche Börse, to equip its corporate clients in the region with access to crypto assets.

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Finding middle ground on overdraft protection fees

American Banker

Credit unions worked with California lawmakers to reshape proposed changes to the fees. An upcoming rule from the Consumer Financial Protection Bureau raises uncertainty.

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MobiKwik's ZaakPay integrates Meta to deliver payments on WhatsApp

The Paypers

India-based fintech company MobiKwik has announced that its payment gateway arm, ZaakPay, has partnered with Meta to provide an embedded payment solution via WhatsApp.

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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.