ABA Community Banking
DECEMBER 20, 2023
Community Bankers Council Chair Jeremy Callais views relationships as the sector’s greatest strength. The post Banking that feels like family appeared first on ABA Banking Journal.
American Banker
DECEMBER 22, 2023
Banks, payment companies, mortgage lenders and insurance providers are racing to seize an advantage from generative artificial intelligence. Some have been especially aggressive in deciding which workflows — or entire jobs — can be handed off to AI.
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Perficient
DECEMBER 18, 2023
In the fast-paced realm of finance, the significance of regulatory risk and compliance management practices cannot be overstated. This blog post delves into the pivotal role these practices play in ensuring the stability and success of financial institutions and banks. By adopting a proactive stance and leveraging technological advancements, financial entities can navigate the regulatory landscape with greater resilience and efficacy.
CFPB Monitor
DECEMBER 28, 2023
Several financial services trade associations wrote to CFPB Director Rohit Chopra voicing their concerns with the Advisory Opinion regarding Section 1034(c) of the Consumer Financial Protection Act. The trade associations include the American Financial Services Association, the Bank Policy Institute, the Consumer Bankers Association, and the U.S. Chamber of Commerce.
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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.
American Banker
DECEMBER 3, 2023
A small bank stock index posted its biggest gain of the year in early November before that progress faded. What will it take for investors to sustain confidence in the sector?
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Jeff For Banks
DECEMBER 16, 2023
My firm did a sample data run for a client that included all commercial banks in NY, NJ, PA, and MD between $500 million and $1.5 billion in total assets to see how various banks did in balance sheet and income statement ratios during the course of the Fed tightening run from year end 2021 until the third quarter 2023. Some interesting insights relating to their 1-year cumulative repricing gap that the banks reported on their call reports: At 12/31/21, of the 68 banks that met the criteria, only
American Banker
DECEMBER 12, 2023
The top five community banks averaged a return on average equity of 75.37% as of June 30, 2023.
ATM Marketplace
DECEMBER 15, 2023
Cybersecurity needs to be at the top of the agenda for every industry. This is especially the case for the financial institutions which are always in the cross hairs of cyber criminals and fraudsters.
BankInovation
DECEMBER 13, 2023
Financial institutions are looking to generative AI for software development, chatbots and operational efficiencies, and more AI applications are expected to surface in 2024. Gen AI for software development, for one, is expected to be “transformational” in the financial services industry, according to Mastercard’s “Generative AI: The transformation of banking” report, released Dec. 4.
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.
Payments Dive
DECEMBER 13, 2023
The tech giant has linked with the buy now, pay later companies to develop installment payment options to be offered next year.
Accenture
DECEMBER 5, 2023
It’s an open secret in payments that the commercial client experience is often second-class, far surpassed in both innovation and investment by consumer offerings. For years this disparity didn’t reach the bottom lines of incumbent payments providers, but our new research, Reinventing commercial payments for profitable growth, suggests it’s now creating competitive vulnerabilities.
Perficient
DECEMBER 19, 2023
In today’s competitive landscape, prioritizing customer experience is essential for success, making it crucial for organizations to choose the right professional services partner to help them deliver exceptional experiences that meet customer expectations. This strategic partnership not only requires a firm with technical design expertise but also one that has an understanding of the evolving forces shaping the future of customer experience.
Abrigo
DECEMBER 29, 2023
Abrigo's most popular whitepapers and checklists on lending and credit risk Abrigo experts' insights on CFPB 1071, loan policies, and risk ratings were popular with banking professionals. Here are the top resources. You might also like this webinar, "Unraveling risk rating: Making sense of your best early warning tool." Watch NOW Takeaway 1 Abrigo's experts produced many pieces on lending and credit risk to provide strategies and tools to help banking professionals.
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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
DECEMBER 14, 2023
In banking, there is often a discussion about “who are our best customers?” Some banks rank customers against current profitability, others against lifetime profitability, and some use a technique called “RFM,” which stands for “Recency,” “Frequency,” and “Monetary.” This article explores the methodology and shows you what this analysis means for a typical bank.
Gonzobanker
DECEMBER 14, 2023
2023. What a year. Bank leaders must feel like Rocky Balboa after 15 rounds with Apollo Creed. Just think of what the industry dealt with in the last 12 months: The brunt of the unprecedented scope and pace of Fed rate hikes hit home, and banks have seen an.80 basis point increase in deposit cost of funds – and that while total deposit balances decreased for six straight quarters.
Payments Dive
DECEMBER 11, 2023
The network is advancing technologies to let consumers and businesses more easily use its cards, after doubling the number of merchants that accept them over the past five years.
Accenture
DECEMBER 20, 2023
With 2023 in the rearview mirror, we can look back on the year with 20/20 clarity. This year saw banks confronting multiple risks, some foreseeable and others less so. If the year has taught us anything, it’s that banks can do more to guard against the risk they can predict, and risk they may not… The post Five steps to banking cyber resilience appeared first on Accenture Banking Blog.
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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.
Perficient
DECEMBER 29, 2023
This blog post was co-authored by: Carl Aridas In a recent blog post, Perficient’s Financial Services Risk and Regulatory Center of Excellence (CoE) highlighted the Federal Deposit Insurance Corporation (FDIC) plan to implement a “Robin Hood-like” deposit insurance premium on the nation’s largest banks to recapitalize the agency’s Deposit Insurance Fund.
Abrigo
DECEMBER 28, 2023
Top banking risk management papers and infographics Abrigo experts' insights on deposit pricing, stress testing, loan review, and CECL were popular with banking risk professionals. Here are the top resources. You might also like this webinar, "Unraveling risk rating: Making sense of your best early warning tool." Watch NOW Takeaway 1 Abrigo's experts produced pieces on asset/liability management (ALM) and portfolio risk that covered strategies and tools to help risk management and accounting pr
South State Correspondent
DECEMBER 13, 2023
Most market participants are focused on just one monetary policy tool available to the Fed – short-term, federal funds rates. However, the other critical monetary instruments available to the Fed are quantitative easing and tightening (QE and QT, respectively). While the Fed’s current actions on QT have been deemed long-term, slow-moving, and compared to watching paint dry, after years of QT, the impact is real and is affecting money supply and bank’s cost of funding (COF).
CFPB Monitor
DECEMBER 7, 2023
The Office of the Comptroller of the Currency (OCC) has issued a bulletin (2023-37) that provides guidance on managing risks associated with “buy now, pay later” (BNPL) lending. The BNPL loans addressed in the bulletin are loans that are payable in four or fewer installments and carry no finance charges. The bulletin cautions banks about the risks to banks and consumers associated with BNPL lending. .
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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
Payments Dive
DECEMBER 8, 2023
Sen. Dick Durbin took to the Senate floor Thursday to push for a vote on the Credit Card Competition Act, taking a swipe at United Airlines along the way.
BankBazaar
DECEMBER 8, 2023
Do you have a toxic aunty in the family? You know, the one that hints around about finances or keeps asking why you’re not married yet? Yes, you know who we’re talking about! Come to think of it, maybe ‘anti’ is derived from the word ‘aunty’! Who knows? So, this ‘AUNTY-Corruption Day ’, here’s a poem to show you how not to be a shady aunty! On this Anti-Corruption Day, here is a tale, Of Credit Cards and scores , with a humorous trail.
Perficient
DECEMBER 28, 2023
The Consumer Financial Protection Bureau (CFPB) has narrowed its focus on what it terms “junk fees” targeting financial industry practices. Understanding the CFPB’s recurrent theme and deciphering its message from the recent press releases provides insights into potential enforcement actions over the next 12-24 months and how banks can reassess their current fee structures.
Abrigo
DECEMBER 22, 2023
The most-read lending & credit blogs in 2023 Probability of default, CECL model validation, and stress testing were among Abrigo's top blogs on ALM, CECL, and portfolio risk this year. You might also like this resource, Abrigo's "2022 Loan Review Benchmark Survey Results." download NOW Takeaway 1 The most popular blog posts on the Abrigo site reflect many of the priorities community banks and credit unions had in 2023.
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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