November, 2021

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Industry Slant // Bo Berg Talks Giant Schnauzers, DJing, Financial Services

Perficient

Bo Berg is a director in Perficient’s financial services practice. He has more than 20 years of experience leading digital transformation initiatives for financial institutions. Bo Berg joins Eugene Sefanov and Madeline McDermott for a Microsoft Teams chat . Denmark, Dogs, & DJing. Madeline McDermott: First things first. Where were you born? Bo Berg: Copenhagen.

Industry 539
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Key trends shaping the future of payments

Accenture

In a post-COVID world we have seen dramatic changes in the way customers pay, from the further shift towards a cashless society to a digital revolution in e-commerce payments. As we look forward, we see these trends accelerating and new payments rails emerging. Market context Based on Accenture’s proprietary Global Payments Revenue forecasts, APAC is expected to see the strongest payment growth at….

Trends 538
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Federal agencies approve cyber-attack rules for US banking system

Banking Exchange

OCC, Board, FDIC will require banks to report incidents within 36 hours Compliance Compliance Management Compliance/Regulatory Cyberfraud/ID Theft Security Mobile Online Core Systems Risk Management Technology Feature Feature3.

System 159
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Six Keys to Meaningful Evaluation of New Financial Technology

Jack Henry

Global IT spending in the banking sector during 2021 is estimated to be nearly $300B. Banking and securities lead all industry sectors in terms of average IT spending as a percentage of revenue, at nearly 8%, according to a 2018 Deloitte study. And, that was before the pandemic drove institutions to accommodate remote servicing demands in 2020 and 2021.

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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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6 Steps to Seamless Account Holder Onboarding

SWBC's LenderHub

More and more, financial institutions are focusing on the consumer experience. Particularly, in our post-pandemic environment where consumers are leveraging self-serve channels for their day-to-day activities, user experience has become critical to maintaining and growing relationships.

More Trending

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Barclays has financed $5.6bn in new fossil fuel projects since January

TheGuardian

Financing in lead up to Cop26 largest of all major UK banks, finds campaigners Barclays has financed more in fossil fuel projects than any of the UK’s largest banks in the months leading up to the Cop26 climate talks in Glasgow, according to a report by climate finance campaigners. The bank financed $5.6bn (£4.1bn) for new fossil fuel projects from January 2021 to the eve of the UN climate summit, Market Forces found, despite growing international warnings that any new fossil developments would

Marketing 130
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Will these innovation trends shape banking’s future?

Accenture

The Efma-Accenture Banking Innovation Awards are set to return on November 18th for a virtual celebration of banking’s best and brightest. With a record 816 innovations submitted by 275 institutions in 73 countries, I’m excited to see what this year has in store. A lot has happened since the 2019 awards—and I know that’s an…. The post Will these innovation trends shape banking’s future?

Trends 514
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2 keys to good ATM, Bitcoin ATM placement

ATM Marketplace

Often, stores shove ATMs and Bitcoin ATMs in inconvenient spaces. Here are two questions to ask to ensure your ATM is in the right spot.

ATM 118
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Fintech in a Flash: Fraud Mitigation is a Key Consideration When Selecting Payments Partners

Jack Henry

Payments fraud impacted 82% of financial institutions last year. And it’s inevitable, pervasive, and growing with every payment channel threatened by unique, ingenious, and constantly evolving schemes. So, if you’re among the 88% of financial institutions that confirmed (during a recent Accenture survey) you have multi-year payment transformation plans, fraud mitigation should be a cornerstone of your payments partner due diligence.

Fraud 148
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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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If You Can't Beat Them, Join 'Em

SWBC's LenderHub

“After all, we are not communists” – Don Emilio Barzini, The Godfather Part One. As we enter the most confusing investing chapter in The Great Pandemic, I’ve been thinking a lot about what are some good, or maybe even great, investments to take advantage of the current dislocations as well as the ones to come. I have been thinking of this since a strange thing happened to copper on the London Metals Exchange (LME) back in the month of October.

Capital 148
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Did the Covid-19 local lockdowns reduce business activity in the UK?

BankUnderground

James Hurley and Danny Walker. In 2020 governments around the world responded to Covid-19 (Covid) by introducing lockdown measures that were designed to slow the spread of the virus. Business activity fell materially. But it is difficult to isolate the impact of the local lockdown measures on business activity, given that business activity was affected by other factors such as voluntary social distancing at the same time.

Policies 115
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Scams Alert: We Can All Fall Victim to Social Engineering and Fraud

FICO

This week is International Fraud Awareness Week — but every week is Fraud Awareness Week for FICO, as we focus on helping banks and other financial institutions worldwide detect and manage fraud. Fraud is a big burden for such organizations but there are of course other victims – people just like you and me. Their lives can be turned upside down and their finances ruined when they become victims of clever scam artists.

Fraud 105
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Breaking down common barriers to purpose-driven banking

Accenture

In this series we’ve taken a close look at the business case for embracing purpose in banking. In short, there’s compelling evidence that focusing on customer wellbeing can catalyze growth and digital transformation. Embracing purpose is more than a PR move. It is a powerful opportunity—and a formidable challenge. Today we’re going to unpack four of the….

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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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JPMorgan sues Tesla for $162m after Musk tweets soured share deal

TheGuardian

Investment bank says it lost millions because of tweets by Elon Musk that he might take electric carmaker private JPMorgan has sued Tesla for $162.2m, accusing Elon Musk’s electric car company of “flagrantly” breaching a 2014 contract relating to stock trading options that Tesla sold to the bank. The options, or warrants, give the holder the right to buy a company’s stock at a set “strike” price and date.

Company 99
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Listen: Opportunities in crypto for banks, FIs

BankInovation

As interest and investment in cryptocurrency spikes this year, banks and financial institutions (FIs) must decide whether and how to become involved, or potentially lose revenue and customers if they opt out. This is the message from Lawrence Pruss, senior vice president at Memphis, Tenn.-based Strategic Resource Management (SRM) in this episode of "The Buzz" […].

Memphis 98
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Market Commentary: Week of November 15, 2021

SWBC's LenderHub

Last Week. The week began with the continued unwinding of the massive, long-dated Treasury short positions that have roiled the markets and, in large part, caused the 10-year to revisit technical lows in yields, getting as low as 1.41% on Tuesday. Then, October CPI came on Wednesday, and the market went from student body right to student body left. The CPI rose more than expected and was the highest reading in over 30 years.

Marketing 148
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Household debt and labour supply – a new labour market channel

BankUnderground

Philip Bunn, Jagjit Chadha, Thomas Lazarowicz, Stephen Millard and Emma Rockall. Does higher household debt lead to greater labour supply? Ahead of the Global Financial Crisis (GFC), UK household debt rose considerably. Since that crisis, the UK labour market has experienced high employment and high participation, alongside relatively weak wage growth.

Marketing 112
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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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Lucas Stangl of Merchants Bank Earns Accredited ACH Professional Certification

MerhantsBanks

Lucas Stangl has earned the Accredited Automated Clearing House Professional (AAP) designation according to Kerri Bronk, Vice President/Senior Operations/eChannel Officer for Merchants Bank. “We strive to be a resource for our customers and Lucas becoming an AAP exemplifies our commitment to being a true financial partner. Automated Clearing House payments can be complicated so having […].

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Growth in digital payments: A cross-industry view

Accenture

Digital payments are gaining popularity as cash usage declines around the world. While card payments still dominate in countries where they have a large incumbent advantage, digital products like payment apps, digital wallets, buy now pay later, and account-to-account (A2A) payments are gaining traction. This trend is driven by changing customer behaviors and reimagined customer….

Industry 394
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JP Morgan chief skips quarantine as he jets into Hong Kong

TheGuardian

Jamie Dimon let off 21-day hotel quarantine because he runs a ‘very huge bank’, says Carrie Lam JP Morgan’s billionaire chief executive Jamie Dimon was allowed to skip Hong Kong’s strict 21-day hotel quarantine rules because he runs “a very huge bank” with “key business in Hong Kong”, the territory’s chief executive, Carrie Lam, said on Tuesday. Dimon flew into Hong Kong on Monday on JP Morgan’s private jet, becoming the first Wall Street bank boss to visit the territory or mainland China since

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FDITECH Sprint attracts AWS, Google and fintechs to solve financial system challenges

BankInovation

The Federal Deposit Insurance Commission (FDIC) recently made available the demos of its first FDITECH Sprint, a contest held in September that focused on reaching unbanked customers via fintech solutions. The winning ideas included those that leverage technology to provide loans to small businesses in underserved communities; offer savings accounts and financial education for minority […].

FDIC 98
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Top 3 Banking Secrets to Stay Relevant with Gen Z Consumers

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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5 Ways to Fight Holiday Shopping Fraud in 2021

FICO

Welcome to the holiday shopping season for 2021, the second impacted by the pandemic. Global Supply chain issues and scenes of countless ships waiting to unload their global cargo have certainly reminded us all of how interconnected we are around the globe. When we combine those logistics challenges with lingering fears of entering crowded malls, we have certainly injected a heightened level of stress and scarcity into this year’s e-commerce bonanza.

Fraud 98
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Impact of the UK QE on banks’ balance sheets

BankUnderground

Mahmoud Fatouh. Quantitative easing (QE) involves creating new central bank reserves to fund asset purchases. Deposited in the reserves account of the seller’s bank, these reserves can have implications for banks’ asset mixes. In our paper , we use balance sheet data for 118 UK banks to empirically investigate whether the asset compositions of banks involved in the UK QE operations reacted differently in comparison to banks not involved in the initial rounds of QE between March 2009 and July 201

Lending 109
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Jennifer Welch, Dave Pierret Named 10 Days of Giving Co-Chairs

MerhantsBanks

Jennifer Welch and Dave Pierret have been named Co-Chairs for Merchants Bank’s 2021 10 Days of Giving food drive, which runs December 1-10. The effort, which benefits food shelf programs operated by Winona Volunteer Services (WVS), will be celebrating its 33rd year. To date, more than 4 million pounds of food have been collected. Last […].

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Beyond CX: BX delivers exceptional experiences

Accenture

In my previous post, I started the conversation about the Business of Experience (BX). I encouraged Canadian banks to look beyond the Customer Experience (CX) to not only retain their current customers but also acquire new customers at a time when so many are willing to move banks for more meaningful experiences. Previously, I recommended…. The post Beyond CX: BX delivers exceptional experiences appeared first on Accenture Banking Blog.

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Breaking New Ground: Managing Innovation Fatigue With Effective Automation

Speaker: Gary Dmitriev

Our upcoming webinar aims to demystify the process of selecting and implementing automation tools for financial institutes. This session will provide your roadmap for vetting potential solutions, focusing on due diligence, vendor assessments, and aligning technology with strategic goals. We’ll also address the critical issue of innovation fatigue, offering tips on maintaining enthusiasm and momentum for new initiatives.