October, 2024

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How open banking will shape the future of payments

Payments Dive

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.

Payments 472
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3 Key Insurance Takeaways from InsureTech Connect 2024

Perficient

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.

Industry 473
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Reinvent lending offerings and business models to stay ahead

Accenture

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.

Lending 396
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Coffee Culture And Its Impact On Personal Spending Habits

BankBazaar

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.

Cards 147
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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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Sweden and Norway rethink cashless society plans over Russia security fears

TheGuardian

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

Security 111

More Trending

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Toast increases processing fees, adds surcharge feature

Payments Dive

The digital restaurant payments provider raised processing fees for some restaurant clients. Separately, it’s aiding clients in adding surcharges on their customers’ orders.

Payments 448
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Creating the best retail banking experience

ATM Marketplace

A panel at the Bank Customer Experience Summit held in Charlotte, North Carolina from Sept. 9 to 11 did a deep dive into ideas and innovation for retail banking.

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International spillovers from climate policy

BankUnderground

Francesca Diluiso and Aydan Dogan To achieve the emissions reduction targets outlined in The Paris Agreement , many economies have started implementing various types of climate policies. These policies, which include subsidies for green production or investment, carbon taxes, and cap and trade schemes , are crucial for guiding the transition to a greener economy.

Policies 107
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Bank of America mobile app, digital interface down

BankInovation

Tens of thousands of Bank of America clients reported outages of online and mobile banking services today. At 1 p.m. ET, more than 20,000 clients had reported issues with the $3.2 trillion bank, according to website Downdetector, which publishes the status of outages in real time. Many clients posted to social platform X to alert […] The post Bank of America mobile app, digital interface down appeared first on Bank Automation News.

America 111
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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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Asbury challenges industry to ‘caring, courage, commitment’

ABA Community Banking

In his opening remarks as ABA chair, John Asbury spoke to the core values of Atlantic Union Bank—“caring, courageous, committed”—and used them to frame his goals for the year ahead. The post Asbury challenges industry to ‘caring, courage, commitment’ appeared first on ABA Banking Journal.

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Monitoring UK bank accounts for benefits fraud would be ‘huge blow to privacy’

TheGuardian

Exclusive: privacy and rights groups fear government may resurrect Tory plan for mass algorithmic surveillance UK politics live – latest updates Ministers have been warned not to resurrect Conservative plans to tackle welfare fraud by launching mass algorithmic surveillance of bank accounts. Disability rights, poverty, pensioner and privacy groups fear the government is poised to deliver a “snooper’s charter” by using automation and possibly artificial intelligence to crack down on benefit cheat

Fraud 110
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Hurricane Helene aftermath prompts card, cash troubles

Payments Dive

After the storm ripped through the southeastern U.S., consumers and merchants have been left grappling with card network outages and cash shortages.

Cards 476
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Federal Reserve Bank expert offers cash usage insights

ATM Marketplace

Haley Gibson, senior manager, cash insights and policy analysis, Federal Reserve Financial Services, discussed key cash usage trends.

Analysis 119
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It Takes Two to Tango

With automation, you’ll reduce errors and save valuable time, allowing you to focus on what really matters: strategic analysis and insightful decision-making. Picture accurate financial reports ready at your fingertips, giving you the confidence to tackle business challenges head-on. Embracing automation not only boosts productivity but also elevates your role from number cruncher to closing rockstar.

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Long-term fixed-rate mortgages through an international lens: could they lead to higher home ownership?

BankUnderground

Gabija Zemaityte The Tony Blair Institute for Global Change, among others, has argued that long-term fixed-rate mortgages (LTFRMs) could increase home ownership in the UK. The share of mortgages with longer fixes increased in the UK and internationally over the last decade. Persistently low interest rates over that period have supported demand for longer-fix products, including five-year fixes.

Marketing 109
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Mobile solutions offer competitive edge for credit unions

BankInovation

Credits unions tapping Dublin-based fintech Pulsate for mobile solutions see a return on investment with a major uptick in funded loans, engagement and transactions. It is imperative that “community financial institutions [are equipped with] the tools they need to not just survive in this digital-first world, but be competitive,” Sarah Martin, chief executive of mobile […] The post Mobile solutions offer competitive edge for credit unions appeared first on Bank Automation News.

Mobile 103
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A place for regional banks: How BOK Financial finds and fills local needs

ABA Community Banking

As president and CEO of $50 billion-plus BOK Financial, Stacy Kymes spends time thinking about the role of regional banks in the U.S. economy. Here's how BOK Financial finds unique niches and meets the credit and capital market needs in its core mid-America markets. The post A place for regional banks: How BOK Financial finds and fills local needs appeared first on ABA Banking Journal.

Regional 105
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UK banks given extra three days to delay payments in effort to beat scams

TheGuardian

High street banks handed new powers by the Treasury to delay and investigate payments suspected of being fraudulent Bank payments can be delayed by an extra three days if lenders suspect consumers are being scammed, as part of a crackdown on booming levels of digital fraud in Britain. Under changes designed to protect consumers against online scams, high street banks are to be handed new powers by the Treasury to delay and investigate payments suspected of being fraudulent.

Payments 105
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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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Affirm may offer discounts after Fed interest rate cut

Payments Dive

The Federal Reserve’s interest rate reduction may give the company leeway to offer more consumers 0% interest or a lower APR, Affirm CFO Michael Linford said this week.

Company 433
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Understanding payment glitches vs bugs

ATM Marketplace

The best way to prevent bugs, defects, or glitches and protect your company, your customers, and your shareholders is by rigorously testing everything.

Payments 105
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dLocal partners with USI Money to provide cross-border payments

The Paypers

dLocal has announced its partnership with USI Money in order to streamline cross-border payments for customers and clients in the region of Asia and Africa.

Regional 101
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Can I Get SBA Loan to Buy an Existing Business for 1.9 M

Commercial Lending USA

Get expert advice on SBA loan to buy an existing business for 1.9m. Learn about Commercial Lending USA eligibility, application, and benefits.

Lending 105
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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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South Carolina banker elected chair of ABA’s Community Bankers Council

ABA Community Banking

ABA has elected Jennifer Jones as chair of the Community Bankers Council for the 2024-2025 association year. Jones is president and CEO of CBL State Savings Bank in Greer, South Carolina. The post South Carolina banker elected chair of ABA’s Community Bankers Council appeared first on ABA Banking Journal.

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Shoppers to no longer pay fees when using debit cards under new Albanese government plan

TheGuardian

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.

Cards 101
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MoneyGram cites cash-to-digital conversion opportunity

Payments Dive

A MoneyGram executive speaking at the Money 20/20 conference cooed about the trillion-dollar opportunity to lure cash users to digital options, but didn’t mention the company’s recent systemwide outage.

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Complying with banking regulations without sacrificing CX

ATM Marketplace

A panel at the Bank Customer Experience Summit analyzed banking regulations and how banks can comply without sacrificing the customer experience.

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3 Ways Managed Device Services Help Community Banks Cut Costs

Community banks seek ways to leverage their technology infrastructure to drive productivity and growth. However, the sheer volume of technology devices, capital constraints, and lack of skilled resources stand in the way. This Strategy Brief explores how a managed device services partner can help bridge this resource gap. Managed device services partners empower community banks to take charge of mission-critical device management activities with: Logistics and installation services to support se