Mon.Jun 24, 2024

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The impact of generative AI in banking

Accenture

Following the release of our new report, “The age of AI: Banking’s new reality”, I sat down with my team to discuss how generative AI is reshaping the banking industry. It sparked an interesting conversation about current adoption journeys, strategic priorities, and the exciting possibilities ahead for banks. I thought I’d share some of the… The post The impact of generative AI in banking appeared first on Accenture Banking Blog.

Industry 411
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Why a Visa-Mastercard settlement is likely to fall short

Payments Dive

The persistence of the networks’ ‘honor all cards’ rule may be a key reason Judge Margo Brodie is unlikely to approve a negotiated resolution of the two-decade-old case brought by merchants.

Cards 418
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Bridge Lending Solutions for Commercial Real Estate

Commercial Lending USA

Time is significant in the fast-paced world of commercial real estate. But what do you do when a great chance comes up but your stable bridge lending solutions still need to be implemented?

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Affirm may see payment volume bump from Apple Pay: Mizuho report

Payments Dive

The partnership is estimated to represent a $12 billion opportunity for buy now, pay later provider Affirm, according to an analyst note last week.

Apple 370
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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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EU-regulated ‘sustainable’ funds invest £14bn in biggest polluters

TheGuardian

Investigation finds funds touting ethical credentials include fast fashion labels and fossil fuel companies Fast fashion labels, fossil fuel companies and SUV-makers are present in EU-regulated “sustainable” funds that tout their ethical credentials in their names, the Guardian and media partners can reveal, with $18bn (£14bn) of their investments going to the 200 biggest polluters.

More Trending

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Chasing (and Catching) Deposits: How Business Banking Tools Create an Edge

Jack Henry

Growing and replacing deposits is a top priority for U.S. banks and credit unions: 72% of bank CEOs and 44% of credit union CEOs say growing deposits is paramount.

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Fed extends public comment period for expansion of payment services

Payments Dive

The Federal Reserve said last week that it will give the public two more months to comment on its plan to expand operating hours for its two large-value payments services, the Fedwire Funds Service and the National Settlement Service.

Payments 195
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Navigating Cybersecurity and Regulatory Challenges in Financial Services

Cisco

Cisco Live 2024! The event brought together 21,000 industry leaders and technology enthusiasts. This year we had the opportunity to share how our customers can accelerate digital transformation, fortify tech infrastructures, and enhance observability and vulnerability management for financial institutions.

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An optimal payment experience is the new essential for billers

Payments Dive

Businesses that rely on recurring billing with legacy payment processes may be missing a crucial opportunity to generate return business.

Payments 221
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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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'I'm left with nothing': Life inside the Synapse collapse

American Banker

Customers caught up in the Synapse bankruptcy are met with deafening silence from Washington as they discover their savings — or what is left of them — are held in accounts that fall between the cracks of the bank regulatory apparatus.

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AtData partners with Dodgeball

The Paypers

AtData , a provider of email address intelligence, has announced a strategic partnership with Dodgeball , a unified identity platform focused on user verification and fraud prevention for businesses.

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The CFPB finds nonexistent problems, threatening services users value

American Banker

The Consumer Financial Protection Bureau's attacks on credit card reward programs don't square with the fact that the vast majority of consumers are very satisfied with their service.

Cards 74
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Inside look: BNY Mellon’s Pershing X product pipeline

BankInovation

BNY Mellon looks to client feedback and demand when planning the product pipeline within its technology arm, Pershing X. “We’re hearing feedback from our clients, and we’re delivering solutions based on what we’re hearing,” Noam Tasch, head of revenue at Pershing X, told Bank Automation News.

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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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American Banker news quiz: June 24

American Banker

See how familiar you are with potential changes to the Consumer Financial Protection Bureau's rulemaking ability, the Synapse bankruptcy, industry turnover of chief financial officers and more.

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Transak lists PayPal's stablecoin PYUSD

The Paypers

US-based Web3 onboarding infrastructure provider Transak has listed PayPal USD (PYUSD) to increase its availability across Web3.

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Bank M&A deals substantially bigger in 2024

American Banker

There were 27 bank acquisitions worth $5.45 billion announced in the second quarter as of mid-June. That was more than the $5.2 billion combined value of deals announced over the previous five quarters.

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U.S. Bank cautiously deploying AI for SMBs

BankInovation

U.S. Bank is working on AI-driven solutions for its small and medium-sized business clients to improve their operations. “By no means is it as easy as just deploying AI into the ecosystem without taking into consideration some of the challenges it comes with,” Shruti Patel, chief product officer for business banking, told Bank Automation News.

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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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Gen AI pioneer: Sathish Muthukrishnan

American Banker

The chief information, data and digital officer at Ally Financial is one of American Banker's 2024 Innovators of the Year.

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EU SMEs positive on instant payments regulation, Swift says

The Paypers

Swift has released research findings indicating positive sentiment among SMEs in the European Union towards the EU’s Instant Payments Regulation.

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Preparing for ISO 20022: What banks need to know

American Banker

As many financial institutions around the world prepare to adopt the ISO 20022 standard for sending international payments by March of 2025, experts say banks failing to make timely preparations could risk losing some customers and payments volume.

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HDA Truck Pride partners with TreviPay

The Paypers

HDA Truck Pride has announced its partnership with TreviPay to offer payments and invoicing tools to service providers and fleets across North America.

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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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Klarna to offload checkout business in $520 million deal

American Banker

Klarna is looking to get out of one of its key payments businesses after the financial technology giant found the unit created a conflict of interest with peers like Adyen or Stripe.

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emerchantpay releases new research on Open Banking

The Paypers

Global payment service emerchantpay has launched its new research that found Open Banking becoming a mainstream payment method in the following years.

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Using AI to make credit accessible: Leslie Gillin

American Banker

The chief growth officer at Pagaya is one of American Banker's 2024 Most Influential Women in Fintech.

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Capital.com,Trulioo partner for enhanced onboarding experience

The Paypers

Identity platform with global coverage for person and business verification, Trulioo , has recently announced a new strategic partnership with high-growth retail platform Capital.com.

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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.