Payments Dive
OCTOBER 29, 2024
The Consumer Financial Protection Bureau released its final open banking rule this month, leading the payments and financial services industries to begin preparing for a new era in data-sharing.
Perficient
OCTOBER 29, 2024
The 2024 InsureTech Connect (ITC) conference was truly exhilarating, with key takeaways impacting the insurance industry. Each year, it continues to improve, offering more relevant content, valuable industry connections, and opportunities to delve into emerging technologies. This year’s event was no exception, showcasing the importance of personalization to the customer, tech-driven relationship management, and AI-driven underwriting processes.
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Accenture: Banking
OCTOBER 4, 2024
In our discussions with banking executives, a common theme is how the lending market is changing and constantly giving rise to threats and opportunities, as covered in our Commercial Banking Top Trends for 2024. Confronting these changes is essential, but it also requires banks to be willing to reinvent to stay ahead. Previously, we touched… The post Reinvent lending offerings and business models to stay ahead appeared first on Accenture Banking Blog.
BankBazaar
OCTOBER 1, 2024
On this International Coffee Day, as we breathe in the rich aroma that somehow makes every moment feel a little warmer, it’s hard not to reflect on how deeply coffee has woven itself into our daily lives. What was once just a simple cup in the morning has evolved into something much bigger—it’s a lifestyle, a social ritual, a small indulgence that we don’t think twice about.
Advertiser: Trellis
Finance teams find Trellis to be particularly effective in conducting comprehensive due diligence on both individuals and businesses. With our court data solution, financial experts can access critical litigation insights, making it an invaluable resource for informed decision-making in the financial sector.
TheGuardian
OCTOBER 30, 2024
Rise in hybrid warfare and cyber-attacks blamed on pro-Russia groups prompt Nordic neighbours to backpedal Sweden and Norway are backpedalling on plans for cashless societies over fears that fully digital payment systems would leave them vulnerable to Russian security threats, and concern for those unable to use them. A combination of good high-speed internet coverage, high digital literacy rates, large rural populations and fast-growing fintech industries had put the Nordic neighbours on a fast
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
South State Correspondent
OCTOBER 30, 2024
A survey from the CFA Institute caught our attention on why wealth management clients leave. 47% of the respondents said they left because of the poor portfolio performance. That makes sense. But, do you know what the second highest reason for leaving your wealth manager was? Communication. 43% of the respondents left because of the lack of communication.
Perficient
OCTOBER 15, 2024
Lets talk about data governance in banking and financial services, one area I have loved working in and in various areas of it … where data isn’t just data, numbers aren’t just numbers … They’re sacred artifacts that need to be protected, documented, and, of course, regulated within an inch of their lives. It’s not exactly the most glamorous part of financial services, but without solid data governance, banks would be floating in a sea of disorganized, chaotic
Accenture: Banking
OCTOBER 25, 2024
The payments industry is evolving rapidly, driven by changing consumer and commercial needs. Payments executives are grappling with rising costs, shrinking margins and emerging technologies like generative AI, prompting a reevaluation of their strategies. The key question is: What tech investments should be prioritized to stay competitive? Our new research, based on insights from 326… The post Challenges shaping North American banks’ payments tech investments appeared first on Accenture Ba
Payments Dive
OCTOBER 4, 2024
The payments processor is only the second company to win the special bank charter since Georgia made it available.
Advertiser: ZoomInfo
AI adoption is reshaping sales and marketing. But is it delivering real results? We surveyed 1,000+ GTM professionals to find out. The data is clear: AI users report 47% higher productivity and an average of 12 hours saved per week. But leaders say mainstream AI tools still fall short on accuracy and business impact. Download the full report today to see how AI is being used — and where go-to-market professionals think there are gaps and opportunities.
Gonzobanker
OCTOBER 17, 2024
GenAI tools can do amazing things. Doling out financial advice and guidance isn’t one of them. A survey from the Motley Fool revealed some surprising—and, frankly, hard to believe—statistics about Americans’ use of the generative AI tool ChatGPT for financial advice. The study found that: 54% of Americans have used ChatGPT for finance recommendations.
Abrigo
OCTOBER 21, 2024
How financial institutions deal with problem loans Problem loans are a natural outcome of the risks banks and credit unions take when lending, and they should be expected over the long run during the ups and downs of the business cycle. In this guest column, Jason Alpert, Managing Partner of Castlebar Holdings , explains how financial institutions should respond.
South State Correspondent
OCTOBER 16, 2024
While there are many overlooked products in banking, the debit card is perhaps the greatest. The product generates significant fees and helps drive deposit balances, yet debit cards rarely get a mention in strategy, marketing, or customer profitability circles. The debit card is one of the greatest workhorses of banking and, unfortunately, is forgotten about due to its sexier older brother—the credit card.
Perficient
OCTOBER 28, 2024
Artificial intelligence (AI) is poised to affect every aspect of the world economy and play a significant role in the global financial system, leading financial regulators around the world to take various steps to address the impact of AI on their areas of responsibility. The economic risks of AI to the financial systems include everything from the potential for consumer and institutional fraud to algorithmic discrimination and AI-enabled cybersecurity risks.
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Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.
Accenture: Banking
OCTOBER 14, 2024
In October 2024, Apple is set to open its NFC (Near-Field Communication) technology using the Secure Element (SE) to third-party platforms, ushering in a new era of competition and innovation in digital wallets. This change presents a significant opportunity for banks, fintech companies and retailers to establish themselves on equal footing with Apple Pay, a… The post Unlocking Apple’s NFC: Is it time for your banking app to become a full digital wallet?
Payments Dive
OCTOBER 3, 2024
After the storm ripped through the southeastern U.S., consumers and merchants have been left grappling with card network outages and cash shortages.
Gonzobanker
OCTOBER 31, 2024
Vendor management is risky business. Smart leaders use performance scorecards to keep the board informed. The FDIC issued a consent order against Discover Bank last year for lacking oversight into third-party risk management and a compliance vendor management program. The time is past for all financial institution leaders to heed this message, take a hard look at their vendors and highlight concerns to their boards of directors.
Abrigo
OCTOBER 22, 2024
Say "thank you" this National FinCrime Fighter Day BSA professionals and financial crime fighters are tasked with the challenge of protecting our financial system daily. October 26 is National Financial Crime Fighter Day , and it’s the perfect time to pause and applaud everything these professionals do. Since we founded the day of recognition in 2018, it’s become an opportunity for the nation to show gratitude for FinCrime fighters’ work in the financial industry.
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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
OCTOBER 30, 2024
In our previous article ( here ) we analyzed the data on community bank M&A and performance, and we concluded that there is no relationship between community bank size and profitability, as measured by return on equity (ROE). While superficially it makes sense that bigger is better, size itself does not lead to better bank performance. Combining two banks may lead to some elimination of overhead, but this gain in efficiency and scale is often overstated.
Perficient
OCTOBER 24, 2024
Artificial intelligence (AI) is poised to affect every aspect of the world economy and play a significant role in the global financial system, leading financial regulators around the world to take various steps to address the impact of AI on their areas of responsibility. The economic risks of AI to the financial systems include everything from the potential for consumer and institutional fraud to algorithmic discrimination and AI-enabled cybersecurity risks.
Accenture: Banking
OCTOBER 22, 2024
The financial services industry is undergoing a fundamental shift, driven by Open Banking’s rapid rise in North America. This trend is amplified by the just released Dodd-Frank 1033 rule, which requires that financial institutions (FIs) provide consumers with greater access to their financial data. While compliance with this rule is non-negotiable, it opens the door… The post Open Banking and Dodd-Frank 1033: A springboard for competitive advantage appeared first on Accenture Banking Blog.
Payments Dive
OCTOBER 10, 2024
Gov. Kathy Hochul signed a new law Wednesday requiring merchants to use a gun code, saying it could help prevent mass shootings.
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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.
TheGuardian
OCTOBER 14, 2024
Treasurer says uncovering ‘unfair’ practices also part of proposed surcharge revamp designed to give consumers better deal and cut small business’s costs Follow our Australia news live blog for latest updates Get our breaking news email , free app or daily news podcast The federal government is preparing to ban debit card fees and instruct the consumer watchdog to investigate excessive card costs, as the unpopular system of transaction charges gets set for an overhaul.
BankBazaar
OCTOBER 22, 2024
Ready to supercharge your festive savings but don’t know where to get started? Two words – Credit Cards! Now if you are wondering what strategies you can employ to make the most out of your Credit Card, here is a comprehensive list with some real-world examples! The festive season in India, spanning from Diwali to Christmas and New Year, is a time of joy, celebration, and, of course, SHOPPING.
South State Correspondent
OCTOBER 14, 2024
In a previous article, we discussed how a loan’s maturity and amortization impacts credit risk and profitability from the bank’s perspective ( HERE ). In that article, we pointed out that the average commercial loan term at community banks has been decreasing and is now between 3.5 and 4.5 years. Much of the explanation for the decrease in term comes from the misconception that term rates or credit spreads will decrease when the Federal Reserve lowers short-term interest rates (there is no dire
Perficient
OCTOBER 31, 2024
The Federal Deposit Insurance Corporation (“FDIC”) recently announced that it is providing financial institutions additional time to get new process and systems in place by extending the compliance date for the new FDIC signage and advertising rule (Part 328, subpart A) from January 1, 2025, to May 1, 2025. The final rule established a new black and navy-blue FDIC official digital sign shown below.
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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
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