Mon.Sep 11, 2023

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Stressing ‘community’ in community banking

ABA Community Banking

As CEO of First United Bank and Trust, ABA Treasurer Carissa Rodeheaver views personal relationships as the core business strength of the institution. The post Stressing ‘community’ in community banking appeared first on ABA Banking Journal.

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Affirm extends bridge to regulators

Payments Dive

“I think a fair amount of our competitors believe that they’ll either talk their way out of [regulatory attention] or hide,” Affirm CEO Max Levchin said.

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FDIC’s New Banker Engagement Site (BES): Improving CRA & Compliance Exam Communication

Perficient

This month, the Federal Deposit Insurance Corporation (FDIC) launches it new Banker Engagement Site (BES) through FDIC connect. Already reviewed by Perficient, BES provides a secure and efficient portal to exchange documents, information, and communications for consumer compliance and Community Reinvestment Act (CRA) examinations. Specifically, BES provides a financial institution’s authorized users the ability to communicate with FDIC examination staff and to respond to the information and docu

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PayPal CEO stresses stablecoin potential

Payments Dive

The digital payments pioneer has set its expectations high for growth in stablecoins, as regulators circle the space.

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Fall In Love With the Month-End Close

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.

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Community Bank Performance – 2Q Lessons

South State Correspondent

On September 7, 2023, the FDIC released its banking profile. This quarterly publication provides a comprehensive financial results summary for all FDIC-insured institutions (4,645 commercial banks and savings institutions insured by the FDIC). While banks under $10B in assets comprise 97.8% of all banks by number, those same banks comprise only 14% of all banking assets (total banking assets of approximately $26.57T as of Q2/23).

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A thoughtful approach to generative AI

Abrigo

Strategies for adopting AI at your financial institution Abrigo CTO Ravi Nemalikanti offers insights on how banks and credit unions can begin to utilize generative AI. You might also like this webinar, "Banking as a service: Objectives, opportunities, and obstacles." DOWNLOAD Takeaway 1 With generative AI technology improving by the day, the question is not if the banking industry will utilize it, but when.

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5 takeaways from Michael Barr’s views on CBDCs, stablecoins and more

Payments Dive

The Federal Reserve’s vice chair for supervision spoke about “responsible innovation” Friday at a Philadelphia Fed fintech conference.

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Ganesh Chaturthi: 5 Financial Lessons To Learn From Lord Ganesha

BankBazaar

Ganesh Chaturthi is around the corner and festivity and fervour is in the air. On this day Lord Ganesha is invoked to solve all financial troubles and bring in prosperity and wealth. Ganesha is believed to bring in prosperity, wealth, and growth in the life of devotees. This faith and festivity associated with Lord Ganesh give us lessons to improve our finances and live a better life.

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A strategic look at chargebacks with data from over 500 merchants

Payments Dive

Hear from Justt.ai co-founder, Roenen Ben-Ami, as he offers strategic insights into where the industry is headed, and get your copy of the data for free.

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5 Ways You Can Win Faster with Gen AI in Sales

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.

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Closing the Gap with a Unified Digital Banking Platform

Jack Henry

I grew up in a small town before regional or national banks were common (or even allowed). Banking was synonymous with community, and walking through the doors of my local branch to deposit my paper route earnings meant conversations with tellers and managers that I’d known – quite literally – my entire life.

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How digital value unlocks new opportunities in fintech

Payments Dive

Digital value networks are innovating payments in a way that traditional processes struggle to support.

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The bank branch isn’t dead — it’s evolving?

BankInovation

On the heels of a tumultuous spring that saw three of the four largest bank failures in U.S.

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Margin challenged environment: The Chief Appraiser’s role

Realwired Appraisal Management Blog

How are your technology partners treating you in this margin challenged environment? Are they making your life easier or annoying you? Are you done? Strike 3? Time to change?

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The Role of Automation in Commercial Lending

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.

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Texas Federal District Court invalidates CFPB Exam Manual changes which opined that discrimination is a UDAAP violation

CFPB Monitor

As we predicted long ago, on Friday, September 8, 2023, the Federal District Court for the Eastern District of Texas vacated the changes made in March 2022 to the CFPB’s Exam Manual. On that date, the CFPB purported to use its authority to prohibit unfair, deceptive, or abusive acts or practices (UDAAPs) to target discriminatory conduct, even where fair lending laws may not apply.

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For banks, cannabis rescheduling would change little

American Banker

The Department of Health and Human Services' recommendation to reclassify cannabis as a Schedule III substance has sparked renewed interest in cannabis banking reforms in Congress, but in itself will do little to make banking cannabis businesses easier.

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Crypto.com introduces Earn Plus

The Paypers

Crypto.com has introduced Earn Plus, a new Crypto Earn programme that allows users to utilise a simplified reward structure, higher allocation limits, and greater reward rates.

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Truist vows to cut costs by $750 million. Critics wonder: Is it enough?

American Banker

The North Carolina bank, which has been facing pressure to curb spending, rolled out a plan that includes job cuts, the consolidation of businesses and lower technology spending. Analysts wonder whether it will soothe investor frustration over Truist's sagging stock price.

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10 Ways to Leverage Buyer Signals and Drive Revenue

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.

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Fonepay and NIPL launch cross-border QR code-based payment solution

The Paypers

Fonepay Payment Service and NPCI International Payments ( NIPL) have launched a QR code-based payment solution between Nepal and India.

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Why Bank of America, TD Bank use virtual reality for onboarding

American Banker

Bank of America and TD Bank are finding that new employees and interns respond well to onboarding and training that takes place in the magical worlds of virtual reality.

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What FI execs are saying about ChatGPT

BankInovation

Executives at financial institutions are looking into ChatGPT to unleash a new era of innovation, education and customer experience. While many FIs, like Fifth Third Bank are using ChatGPT to improve the efficiency of their chatbots, others, like DNB, are exploring generative AI to increase operational efficiency.

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There is no need for the FDIC to tinker with its brokered deposits rule

American Banker

Brokered deposits had nothing to do with this year's bank failures, and regulators shouldn't pretend otherwise.

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Outsource With Confidence for RDC Program Success

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.

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Bank of America launches B2C solution in Canada

BankInovation

Bank of America introduced its business-to-consumer payments solution in Canada as it continues to look for consistent digital solutions that clients can use across all its markets. Global Digital Disbursements, which launched on Aug.

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Indiana bank joins list of those shedding branches

American Banker

Merchants Bancorp says it will sell a total of four branches to two buyers and focus more on its core residential mortgage lending business. Banks of all sizes have been pruning branch networks in recent years.

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Safello introduces Apple Pay and Google Pay for cryptocurrency purchases

The Paypers

Sweden-based cryptocurrency exchange Safello has integrated Apple Pay and Google Pay payment options for customers when purchasing cryptocurrencies.

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Citizens previews the launch of a nationwide private bank

American Banker

After taking incremental steps to bolster its wealth management business, the Rhode Island bank is preparing to roll out a broader strategy focused on high net-worth clients.

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Signal-Based Selling: How to Leverage 4 Key Buying Signals

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.