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 351
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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?

Lending 98
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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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If It Aint Broke, Don’t Fix It: A Dangerous Mindset

Time and time again we tell ourselves and others NOT take action on something that is not "broken." We apply that mindset at home and at work. Sometimes, it doesn’t work out so well. Because when it's truly broken, it's usually an emergency, costs more and causes stress. Join us in this webinar where we share ways where you are able to anticipate your needs, understand benefits that you will get from getting better now instead of later, and relieving your team of tasks that they don't need to be

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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.

Tools 74
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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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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 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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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.

Fraud 68
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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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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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How Unify Turned Month-End Mayhem Into a Growth Party With Automation!

By ditching paper and manual checklists, UNIFY embraced ART’s cloud-based solution for seamless automation. The robust dashboards, exception reports, and completion date reports allowed the team to easily track progress and resolve bottlenecks. ART’s flexible access for auditors ensured tight deadlines were met effortlessly. With competitive pricing and a rapid setup, ART cut costs and minimized disruptions, enabling UNIFY’s team to concentrate on high-impact tasks.

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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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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.

US 73
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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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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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Is Your Current Card Platform Holding You Back?

Have you ever felt the pain and loss of a client suddenly going silent, leaving you questioning everything? Ghosting can cause heartbreak; in business, it drains resources, and emotionally, it shatters your confidence. A modern credit card program can give you the tools to deliver the digital-first experiences your customer’s demand. Our eBook, “5 Signs Your Credit Card Offering Needs an Upgrade,” will help you identify key indicators that your current card platform may be holding you back and w

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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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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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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.

America 41
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Auditpalooza: Rocking the Month-End Close Audit

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

A good, fast, clean audit leads to a happy work life. Join us in this one-hour webinar, where we share the best ways to prepare and conduct your audit process to maximize audit satisfaction and minimize administrative time in month-end close and financial reporting. Learning objectives: This course objective is to review leading practices to maximize audit success.

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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.

Fintech 48
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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.

Retail 36
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3 Ways Managed Device Services Help Community Banks Cut Costs

Community banks seek ways to leverage their technology infrastructure to drive productivity and growth. However, the sheer volume of technology devices, capital constraints, and lack of skilled resources stand in the way. This Strategy Brief explores how a managed device services partner can help bridge this resource gap. Managed device services partners empower community banks to take charge of mission-critical device management activities with: Logistics and installation services to support se