American Banker
DECEMBER 22, 2023
Banks, payment companies, mortgage lenders and insurance providers are racing to seize an advantage from generative artificial intelligence. Some have been especially aggressive in deciding which workflows — or entire jobs — can be handed off to AI.
Payments Dive
DECEMBER 22, 2023
The Electronic Payments Coalition is “fully funded” for the continuing fight over the proposed Credit Card Competition Act next year, said the organization’s executive chairman.
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Abrigo
DECEMBER 22, 2023
The most-read lending & credit blogs in 2023 Probability of default, CECL model validation, and stress testing were among Abrigo's top blogs on ALM, CECL, and portfolio risk this year. You might also like this resource, Abrigo's "2022 Loan Review Benchmark Survey Results." download NOW Takeaway 1 The most popular blog posts on the Abrigo site reflect many of the priorities community banks and credit unions had in 2023.
Perficient
DECEMBER 22, 2023
This blog was co-authored by: Ashley Simmons In conversations with financial services executives, Perficient consultants consistently delve into the application and usage of artificial intelligence (AI) within the industry. A pivotal aspect of this conversation revolves around the regulatory perspective toward AI. To help shed light on this matter, Perficient’s Financial Services Risk and Regulatory Center of Excellence (CoE) researched the topic extensively and discovered that the Office of th
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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.
Abrigo
DECEMBER 22, 2023
The most-read portfolio risk blogs in 2023 Probability of default, CECL model validation, and stress testing were among Abrigo's top blogs on ALM, CECL, and portfolio risk this year. You might also like this webinar, "Unraveling risk rating: Making sense of your best early warning tool." Watch NOW Takeaway 1 Portfolio risk and accounting professionals often keep up to date on industry trends by reading Abrigo's blog.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Abrigo
DECEMBER 22, 2023
The most popular financial crime blogs in 2023 Check fraud, the SAFER Banking Act, and BSA exam topics were among Abrigo's top blogs on AML/CFT and fraud this year. You might also like this infographic on the true costs of fraud at financial institutions. Download now Takeaway 1 AML/CFT and fraud professionals often keep up to date on industry trends by reading Abrigo's blog.
Payments Dive
DECEMBER 22, 2023
Flexibility ranked high on the payment processor’s list of employee retention pain points, so the company turned to staffers for guidance, said Chief Human Resources Officer Andréa Carter.
ATM Marketplace
DECEMBER 22, 2023
The recent Self-Service Innovation Summit provided examples of payment systems, interactive touchscreens, voice interaction modules, AI-enabled identity verification software, multi-cellular routers, scan engines, security systems, self-service robots and more.
TheGuardian
DECEMBER 22, 2023
Decades after shared appreciation mortgage launch, case brought by law firm due to reach high court It was one of a list of “millennium products” lauded by the then prime minister, Tony Blair, as an example of “the very best of British innovation, creativity and design”. But, almost 25 years later, the shared appreciation mortgage (Sam) is effectively going on trial at the high court, accused of ruining lives and leaving some people owing 10 or 12 times the sum they originally borrowed.
Advertiser: ZoomInfo
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.
Jack Henry
DECEMBER 22, 2023
Not long ago, banks and credit unions were flush with deposits – bringing lending functionality into the digital banking experience to help promote loan growth.
TheGuardian
DECEMBER 22, 2023
The former chancellor is one of four partners at Robey Warshaw, which did not specify how much he would collect George Osborne will collect a share of a £28m payout for his work as partner at the City advisory firm Robey Warshaw. The former chancellor, who orchestrated the austerity drive after the financial crisis, is one of four partners at the Mayfair-based company which announced on Friday it would pay out a total of £27.98m to four men.
American Banker
DECEMBER 22, 2023
Of the 11 women on our list, only one – Citi's Jane Fraser – leads one of the U.S.'s 50 largest banks.
CFPB Monitor
DECEMBER 22, 2023
As previously reported, the U.S. House of Representatives , by a vote of 221-202, voted under the Congressional Review Act to override the CFPB’s final Section 1071 small business lending rule (1071 Rule), and the U.S. Senate , by a vote of 53-44, voted to do the same. As was expected, on December 19, 2023 President Biden vetoed the legislation.
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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.
American Banker
DECEMBER 22, 2023
Banks large and small are selling some or all of their insurance subsidiaries, enticed by the high prices they're being offered. Here's a rundown of the deals that were struck in 2023.
CFPB Monitor
DECEMBER 22, 2023
The Chairman of the House Financial Services Committee, Patrick McHenry (R-NC), sent a comment letter to CFPB Director Rohit Chopra in response to the CFPB’s notice of proposed rulemaking that would implement Section 1033 of the Dodd Frank Wall Street Reform Act and Consumer Financial Protection Act of 2010. The letter highlighted that statutes, regulations and guidance have not kept pace with technological advances but the proposed rule is making significant strides.
American Banker
DECEMBER 22, 2023
The Canadian bank didn't admit liability in the settlement, which is set to go before a court for approval in February.
CFPB Monitor
DECEMBER 22, 2023
District of Columbia Council Bill B 25-0609 , which would opt out of Section 27 of the Federal Deposit Insurance Act (“FDIA”) with respect to loans made in the District of Columbia, was introduced in the District of Columbia Council on November 30, 2023, and referred to the Council’s Committee on Business and Economic Development on December 5, 2023.
Advertiser: ZoomInfo
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.
BankInovation
DECEMBER 22, 2023
Digital bank bunq rolled out its generative-AI driven chatbot this week and expects the bot to automate most of its operations. Bunq launched the bot, Finn, on Dec. 20 and expects it to automate 90% of operations in 2024, a spokesperson from Amsterdam-based bunq told Bank Automation News.
CFPB Monitor
DECEMBER 22, 2023
As we await the CFPB’s proposed overdraft and nonsufficient funds (NSF) fee rule , the CFPB issued another report, Overdraft and Nonsufficient Fund Fees: Insights from the Making Ends Meet Survey and Consumer Credit Panel. It appears this report was issued to bolster those imminent rulemaking efforts, similar to the consent order with Atlantic Union Bank earlier this month.
The Paypers
DECEMBER 22, 2023
Singapore-based WHAMPOA Digital has partnered with South Korea-based gaming company Wemade to collaborate on a USD 100 million Web3 fund in the Middle East.
American Banker
DECEMBER 22, 2023
Bank investor Kenneth Lehman and investment firm Castle Creek are providing the funds to the Virginia-based bank, whose fintech friendly strategy has gotten it in trouble with regulators. The bank's stock has sunk 70% this year.
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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.
BankInovation
DECEMBER 22, 2023
United Mississippi Bank continues to use Jack Henry’s Hosted Network Solutions to enhance its IT infrastructure without adding employees. In 2017, United Mississippi Bank Executive Vice President and Chief Information Officer Christopher Maxwell was looking to improve IT operations, including the need for two full-time IT employees, he told Bank Automation News.
American Banker
DECEMBER 22, 2023
America First Credit Union wants to grow 7(a) lending, but its expansion prospects depend on hiring more experienced lenders. That's proved a common challenge for other institutions as the Small Business Administration program continues to grow in popularity.
The Paypers
DECEMBER 22, 2023
The first cross-border settlement for precious metals using the digital yuan CBDC, known as e-CNY, was completed on 20 December 2023.
American Banker
DECEMBER 22, 2023
Arizent research shows that financial institutions will continue paying much closer attention to artificial intelligence next year.
Advertiser: ZoomInfo
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.
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