Abrigo
JULY 10, 2020
Key Takeaways It's important for financial institutions to find a balance between detecting suspicious activity without being so broad that BSA professionals are bogged down with false positives. Rules-based and behavior-based approaches both have pros and cons when used exclusively. To zero in on suspicious activity, typologies can be used to more accurately assess behaviors.
Payments Dive
JULY 28, 2020
The COVID-19 pandemic has accelerated the use of digital payments and moved the debate over a cashless society to a near-term consideration
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Chris Skinner
JULY 29, 2020
A great headline posted in The Financial Times the other day: When the banks closed in Wuhan, nobody cared The Financial Times article makes clear how advanced the Chinese economy is today. For several months this year, banks across Hubei province, an area home to 60 million people, shut their … The post When the banks closed, no-one cared appeared first on Chris Skinner's blog.
South State Correspondent
JULY 6, 2020
Underappreciated in the banking industry is the growing role of identity and access in banking. As banks build their digital strategies, we need to stop and think about how we know our customers (identity) and how we know that the verified customer we believe is trying to access a banking channel is really the customer we think it is (access). In this article, we explore the concepts of identity and access management (“IAM”) and how they should fit into every bank’s long-term strategy, especiall
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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.
PYMNTS
JULY 29, 2020
With the economic and political battles between the U.S. and China heating to a boil, one of China’s top banks is urging financial institutions (FIs) to cut their use of the SWIFT financial messaging network for cross-border transactions. The bank’s messaging applies to Hong Kong and Macau as well. With U.S. sanctions against China looming, state lenders there have reportedly been developing contingency plans.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
South State Correspondent
JULY 18, 2020
In the next twelve months, the transition from LIBOR to alternative Risk-free Rates (SOFR in the US) will take an important course. Banks with products tied to LIBOR need to understand the implications of ISDA Fallback Protocol and how to manage possible risks with this critical industry transition. Shortly, ISDA (International Swaps and Derivatives Association) will be publishing LIBOR Fallback Protocol.
Payments Source
JULY 8, 2020
The role of EMVCo — which is often seen as an extension of the card brands that deals only with chip-based EMV plastic cards— has come into sharper focus.
Abrigo
JULY 5, 2020
Key Takeaways Credit unions participating in the Paycheck Protection Program (PPP) found that the right technology helped them serve business members when they needed help and also gain new members. Technology that makes it easier to meet credit union members’ ongoing needs also will factor importantly into growing relationships beyond the pandemic and economic crisis.
Perficient
JULY 23, 2020
Adobe’s Cloud Manager is quite feature rich in unexpected features. One of these features is that it is in no way obvious how one can diagnose dispatcher deployment issues when run through Cloud Manager. Note: due to AMS’ inconsistent environment setup, this article may not apply to everyone, but if you rely on your CSE to debug dispatcher deployment issues, this probably does for you.
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.
Chris Skinner
JULY 6, 2020
I got an amazing reply to my post yesterday. I cannot say from whom – that’s part of the thing – but it’s such a good reply, I’m sharing it here. For me, it shows how the internet has changed the world – I can write a blog from Poland, … The post Am I wrong about Hong Kong? appeared first on Chris Skinner's blog.
Payments Dive
JULY 10, 2020
The rapid demand for safe, contactless merchant payments has led to renewed interest in QR codes, a payment technology that historically dominated Asian markets, but lagged NFC use in the U.S.
Accenture
JULY 16, 2020
In the first six months of 2020, the global COVID-19 crisis rapidly accelerated the evolution of the branch-network footprint. It’s time now for banks to consider future-proofing their networks for a post-pandemic world. Both the role and shape of branches are changing rapidly. In order for banks to cope—and to create a future-proof network—it is….
PYMNTS
JULY 5, 2020
The nation’s marijuana regulator has told financial institutions to treat the $500 million hemp businesses the same way they would any other businesses. In updated rules from the Financial Crimes Enforcement Network ( FinCEN ), the U.S. Treasury Department’s financial crime division, the agency said the new guidance is in response to questions related to Bank Secrecy Act/Anti-Money Laundering regulatory requirements for hemp-related business customers.
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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.
South State Correspondent
JULY 20, 2020
Chances are you were already reducing the number of your branches. Between the interest rate environment over the past several years, the increase in digital spend, and the quest for greater operating leverage, banks can no longer afford large branch structures and still return their cost of capital. Recent studies now suggest a lower probability of a COVID-19 vaccine and a much lower probability of achieving herd immunity, at least over the next three to five years.
Perficient
JULY 15, 2020
For customer’s using Adobe Managed Services, Cloud Manager has become the de facto system for deploying code to their Adobe Experience Manager environments. Among Cloud Manager’s many deficiencies is the inability to fetch artifacts from private remote repositories. The good news is there’s a workaround for internet-facing artifact repositories.
Chris Skinner
JULY 13, 2020
I have a few friends around the world that I pick up on, and The World Bank and CGAP are amongst that crew. Therefore, when I saw that Peter Zetterli, senior financial sector specialist with CGAP, was blogging about financial inclusion I couldn’t but help reach out to him and … The post Digital Banking for the Poor appeared first on Chris Skinner's blog.
Payments Dive
JULY 24, 2020
US Bank is deploying natural language processing and AI-based technology to move more of its retail banking business onto the mobile banking app.
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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.
Accenture
JULY 31, 2020
In my first post, I talked about how it was time for banks to start looking beyond compliance in Open Banking and to imagine their role in the new application programming interface (API) economy. Open Banking offers banks the opportunity for greater efficiencies and new revenue growth, not to mention competitive advantages in an increasingly…. The post Two business models for monetizing Open Banking appeared first on Accenture Banking Blog.
PYMNTS
JULY 3, 2020
The global pandemic has left no industry unscathed, but the travel business has the unfortunate distinction of being the sector that was slammed first and hardest, Colin Smyth , head of travel at payments platform Flywire , told Karen Webster in a recent conversation. “They took [that] punch in the stomach first, and they’ve had to rebuild, thinking about the ways they can survive until the industry opens back up again,” Smyth said.
South State Correspondent
JULY 25, 2020
While several commercial real estate (CRE) sectors are showing signs of stress, the industrial sector is one of the few bank credit lines that are improving. Companies gained confidence at the end of the second quarter and started to lease more space. As such, weekly leasing activity jumped back to pre-Covid-19 levels after hitting a low in mid-April.
Perficient
JULY 29, 2020
If you could turn back time, before COVID-19, what would you do differently? How would you ready your health system? Or what do you wish that you’d known or put into place? Come join us for an exclusive virtual event for healthcare providers, featuring top industry experts from Salesforce, Perficient and The Chartis Group, on Tuesday, August 11.
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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
Chris Skinner
JULY 1, 2020
McKinsey I only just stumbled across this 124 page report from McKinsey. I know we can critique consulting frims, but sometimes they do produce something interesting, apart from auditing. In the case of McKinsey, building on yesterday’s free research from Deloitte, this report is all about digital transformation and replacing … The post McKinsey on digital transformation in banking (free research) appeared first on Chris Skinner's blog.
Payments Dive
JULY 14, 2020
As the COVID-19 pandemic has rapidly changed the e-commerce landscape, online sellers need to make sure they are offering a wide range of payment options that cater to the needs of their customers.
Accenture
JULY 24, 2020
For leading incumbent banks, Open Banking is not just a regulatory imperative. It’s a new revenue opportunity and a source of competitive advantage that can be captured by making the right power plays in the application programming interface (API) economy. But what exactly is the API economy? Gartner describes it as “an enabler for turning…. The post Beyond compliance—the new API economy appeared first on Accenture Banking Blog.
PYMNTS
JULY 14, 2020
The acceleration of [digital sales] growth can be explained almost entirely by an influx of first-time buyers.”. When consumers fled to online shopping options in Q2, many businesses weren’t set up for digital-first commerce, but quickly figured it out. There’s a cautious optimism now as SMBs, in particular, discover that going digital itself has gotten easier.
Speaker: Brian Muse-McKenney, Chief Revenue Officer & Matt Simester, Cards and Payments Expert
In today’s world of social media, dating apps, and remote work, businesses risk becoming irrelevant (or getting "ghosted") if they fail to meet the evolving needs of Gen Z consumers. Credit cards with flexible payment options, especially for young adults with little-to-no credit history, are a particularly important and valuable solution for this generation.
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