March, 2024

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Time to TikTok?

ABA Community Banking

The popular app is where Gen Z goes for trends, news and even financial advice. Here’s how some banks are using TikTok and platforms like it for education. The post Time to TikTok? appeared first on ABA Banking Journal.

Trends 98
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Looking back: The fall of crypto giant Sam Bankman-Fried

American Banker

Once a prominent figure spurring financial institutions to engage in cryptocurrency, Bankman-Fried's downslide began with the collapse of the digital asset exchange FTX in late 2022 and hit rock bottom with his sentencing to 25 years in prison.

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Influencer Marketing: Is the ROI Worth it for Community Banks?

The Financial Brand

This article Influencer Marketing: Is the ROI Worth it for Community Banks? appeared first on The Financial Brand. Big banks have already tested the waters when it comes to advertising with influencers — but there's a few considerations community banks should make before diving in. This article Influencer Marketing: Is the ROI Worth it for Community Banks?

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Banks Should Make 2024 a True ‘Year of Digital’

Gonzobanker

Banks and credit unions won’t find a perfect digital vendor. What they can find is the right partner to fulfill their strategic needs. 2024 will prove to be a remarkably busy year in the digital space, when many financial institutions will make near-life-or-death choices about the future of their digital platforms and how they will support them.

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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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Non-bank ATMs have hidden opportunities amid challenges

ATM Marketplace

IADs have taken big hits in recent years, but consumers still want their services. This industry has a lot of untapped potential, if they take certain strategic steps for success.

ATM 126

More Trending

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Banking apps fall short on fraud protections: report

Payments Dive

Consumer Reports Senior Director Delicia Hand said preventing fraud and scams is "crucial" for traditional and digital banks alike, as more of their customers use their mobile apps.

Fraud 459
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AI's next big step for banking is data processing: First Internet Bank CEO discusses

ATM Marketplace

First Internet Bank CEO David Becker believes that banks should take a "forward looking approach" with AI, especially in the area of data processing.

Data 123
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Credit union to buy second bank, expand in Washington state

American Banker

Sound Credit Union said it would acquire Washington Business Bank in a cash deal slated to close in the fourth quarter.

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Now is the time to reimagine wealth management

BankInovation

The Music is Starting to Stop Recent years have been extremely lucrative for wealth advisors; both the independents and full-freight firms. Low cost of capital, booming public markets, and a growing desire to diversify into new products are all ways wealth management firms can grow AUM and, as a result, grid payouts.

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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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SCOTUS oral argument in Cantero v. Bank of America provides no clear indication of likely outcome; Ballard Spahr to host April 3 special webinar roundtable on Cantero oral argument

CFPB Monitor

On February 27, 2024, the U.S. Supreme Court heard oral argument in Cantero v. Bank of America, N.A. , a case involving the effect of the Dodd-Frank Act on the scope of preemption under the National Bank Act (NBA). The question before the Court is whether, post-Dodd-Frank Act, the NBA preempts a New York statute requiring banks to pay interest on mortgage escrow accounts. .

America 136
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36 Hours at Fintech Meetup: Three Themes from the Las Vegas Event

Gonzobanker

It happened this week: Fintech Meetup , one of the newer trade events that brought 4,000 or so fintech and banker types to Las Vegas. The striking thing about the conference was not the magician hired to walk around the booths during Monday’s reception or the illustrator seated right next to a sign created by artificial intelligence on Sunday’s welcome gathering, it was the event’s meeting pit: a section in the exhibit hall that was dedicated to taking short meetings that the mobile app as

Las Vegas 132
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Visa spends ‘billions’ battling cybersecurity threats

Payments Dive

“We are all in an arms race to protect this ecosystem, to protect the network,” Visa CEO Ryan McInerney said at an investor conference last week.

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Markup matters: monetary policy works through aspirations

BankUnderground

Tim Willems and Rick van der Ploeg Since the post-Covid rise in inflation has been accompanied by strong wage growth, interactions between wage and price-setters, each wishing to attain a certain markup, have regained prominence. In our recently published Staff Working Paper , we ask how monetary policy should be conducted amid, what has been referred to as, a ‘battle of the markups’.

Policies 137
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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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AI will transform banking

ATM Marketplace

Banks can use AI to improve customer experiences and provide a more personalized touch to their services, to streamline bank branch management and bolster security, creating the bank of the future.

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KeyBank 2-3 years from gen AI features for customers

BankInovation

Both KeyBank and PNC Bank are exercising caution in how they roll out generative AI to their customers. The models need to be refined for accuracy before consumers can be the “prompters,” or questioners, for gen AI-driven features, Dominic Cugini, chief transformation officer at $185 billion KeyBank, said at Bank Automation Summit U.S.

Exercises 121
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Banks driving increase in global meat and dairy production, report finds

TheGuardian

Financiers providing billion-dollar support for industrial livestock companies to expand leading to unsustainable rise in production Billion-dollar financing is driving unsustainable increases in global meat and dairy production, a report has found. Global meat production rose 9% between 2015 and 2021, the report said, while dairy production increased 13% in that time.

Report 111
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When Data Speaks, Do You Listen? The Power of Data-Driven Storytelling in PR and Marketing

William Mills

In a time where information reigns supreme, the strategic use of proprietary data in PR and marketing is not just an advantage — it's essential. As data-driven storytelling has become a cornerstone for success, PR and marketing professionals must learn how to properly gather, analyze and derive this information to help create stronger messages, bring more credibility, and garner greater media attention for clients.

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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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Digital wallets to overtake debit cards in stores: report

Payments Dive

Having already dominated e-commerce transactions, digital wallets are projected to overtake at least one traditional form of payment in stores, according a Thursday report by Worldpay.

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New money, old money

BankUnderground

David Rule and Iain de Weymarn Technologies such as distributed ledgers create the possibility of new forms of digital money, whether privately-issued ‘stable coins’, tokenised commercial bank deposits, or central bank digital currencies. Authorities are considering a world where digital money circulates alongside existing forms of money. In the past, the nature of money has often changed.

Taxes 115
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AI's next big step for banking is dating processing: First Internet Bank CEO discusses

ATM Marketplace

First Internet Bank CEO David Becker believes that banks should take a "forward looking approach" with AI, especially in the area of data processing.

Data 97
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Fifth Third CIO: Chatbot 97% accurate in classifying customer intent

BankInovation

NASHVILLE, Tenn. — Fifth Third Bank says that added efficiencies to its chatbot have boosted its accuracy rate as it leans into generative AI.

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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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Take it from a former banker: the budget is for ordinary people. The mega-rich look on and laugh | Gary Stevenson

TheGuardian

Whatever Jeremy Hunt says, traders know the rich will get richer and the poor will get poorer. And they’re paid millions to bet on it In May 2010, I lost $8m in a week. I was 23 years old. Back then, I was an interest rates trader for Citibank in Canary Wharf. I had won that job only three years earlier in a card game while I was a maths student at LSE.

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Banking on AI: How financial institutions are deploying new tech

American Banker

Lack of understanding remains a key hurdle for adopting traditional and generative artificial intelligence-powered tools, but banks and credit unions are still eager to use AI, according to data from Arizent.

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Meta’s payment plays may pay off this year: report

Payments Dive

A partnership between tech giants Meta and Amazon “could represent the tipping point of transforming social media into a transaction platform,” Mizuho Securities analysts said in a report this week.

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Fintech Meetup Stays True to Its Mission: Making Connections

William Mills

We all cherish those networkers with a superpower for connecting people. Now there’s a conference that’s honed in on meeting the need: Fintech Meetup. Here’s our take on the show.

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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.