South State Correspondent
JULY 24, 2024
There have been many a banker who has said they want to offer a high-yield account because the “higher interest expense is just like paying marketing costs.” This banker may even be thinking of starting a completely new digital bank using a high-yield account as its flagship product. The logic that “rate sells itself” is true.
Accenture
JULY 1, 2024
In part one of my blog, I explored how current macroeconomic events are akin to a solar storm and the Northern Lights are the manifestation of the banking industry’s reaction to uncertainty. In part two, I will discuss key areas banks should focus on to avoid becoming paralyzed by the challenges they face. Over the… The post Navigating the storm: Strategic focus areas for retail banks in uncertain times appeared first on Accenture Banking Blog.
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BankBazaar
JULY 23, 2024
Here’s a quick round-up of key taxation changes in the Union Budget 2024-25 that may impact your earnings this year. Explore BankBazaar >> The post Union Budget FY-25: Taxation Updates You Need to Know appeared first on BankBazaar - The Definitive Word on Personal Finance.
Gonzobanker
JULY 11, 2024
Now is the time to fortify your defenses for the war on deposits. Halfway through 2024, most banks and credit unions have settled into the current environment— for better or worse. Yes, the initial panic has worn off, but dwindling deposits and sustained interest rates have considerably impacted funding costs and growth outlooks. But a faint light is starting to show at the end of the tunnel.
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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.
ATM Marketplace
JULY 5, 2024
The payment industry has evolved significantly in the past 20 years and so has PCI. The aftermath of PCI DSS 4.0 is still being felt. Here are a few changes to make to ensure your ATM fleet stays up-to-date.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Perficient
JULY 2, 2024
Navigating the complexities of cloud technology requires an exceptional partner. We are thrilled to announce that Perficient has been named a Major Player in the IDC MarketScape: Worldwide Cloud Professional Services 2024 Vendor Assessment (Doc #US51406224, June 2024). What Does This Inclusion Mean for Perficient? “We’re honored to be recognized as a Major Player in this IDC MarketScape Report, a distinction we believe highlights our holistic approach to cloud strategy and our implementation exp
Accenture
JULY 17, 2024
Interest rates and inflation are on everyone’s minds. Cost-conscious customers want to see value for their money and don’t want to pay for what they don’t use. Companies, in turn, are looking to better align their pricing with costs. Even as budgets tighten, they want to attract new customers, reduce churn and boost revenue. The… The post Usage-based pricing: Achieve growth with value-added payment services appeared first on Accenture Banking Blog.
Abrigo
JULY 9, 2024
What the rule means for financial institutions FinCEN aims to get AML/CFT programs to redirect their focus on the highest-risk areas, so banks and credit unions should begin preparing. Would you like other articles like this in your inbox? Takeaway 1 FinCEN’s proposed new AML/CFT program rule is intended to redirect AML/CFT programs to focus on the highest-risk areas, using innovative techniques and a goal-oriented approach.
South State Correspondent
JULY 29, 2024
It has long frustrated us that our industry has no aggregate banking calendar. That is, there is no single place to see all the banking conferences, workshops, symposiums, and conventions (we will use the generic “conference”) in the banking industry. If you are trying to budget for next year, train yourself, train your people, prospect, or explore a particular discipline, it will take you hours of research, and you will likely still come up short.
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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.
BankUnderground
JULY 26, 2024
Gabor Pinter, Emil Siriwardane and Danny Walker In September 2022 the interest rate on UK gilts rose by over 100 basis points in four days. These unprecedent market movements are generally attributed to two key factors: the 23 September announcement of expansionary fiscal policy – the so-called ‘mini-budget’ – which was then amplified by forced sales by liability-driven investment funds (LDI funds).
Payments Dive
JULY 31, 2024
Generative AI could help spot fraudulent patterns in transaction data and reduce the cost of processing payments, says a McKinsey consultant.
Perficient
JULY 18, 2024
Wealth management is evolving rapidly, driven by generational shifts, changing advisor roles, new business models, regulatory demands, and a growing preference for low-cost passive products. In response to these changes, our fintech client partnered with one of the world’s largest financial institutions to develop a next-generation, open-source, front-to-back wealth management platform.
BankInovation
JULY 5, 2024
ConnectOne Bank built its own data lake and data warehouse in-house to allow for access to insights for all departments. One of the first assignments for the $9.8 billion Englewood Cliffs, N.J.
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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.
Abrigo
JULY 20, 2024
Ready to catch the next wave of lending growth? Commercial and industrial lending (C&I) will be the next big performance driver for banks and credit unions. Financial institutions should get ready now. You might also like this paper on how institutions can produce smarter, faster lending. DOWNLOAD Takeaway 1 If opportunities to drive bank or credit union performance are like the waves surfers seek.
South State Correspondent
JULY 21, 2024
The biggest surprise for bank managers using risk-adjusted return on capital (RAROC) loan pricing models is the low return on equity (ROE) on smaller, shorter, and lower-credit quality commercial loans. Those ROEs tend to subtract substantial value from the bank and show negative returns – sometimes in the negative double digits. However, one aspect that many bankers do not address when using RAROC models is that prepayment speeds are a significant driver of negative ROEs, and adjusting loans
BankUnderground
JULY 10, 2024
Miruna-Daniela Ivan, Joshua Lillis, Eduardo Maqui and Carlos Cañon Salazar Funding markets are crucial for healthy and active financial institutions, and consequently for everyone in the economy. The repurchase agreement (repo) market plays a key role in bank and non-bank financial institutions’ (NBFIs’) daily activities by facilitating short-term financing and risk hedging.
Payments Dive
JULY 8, 2024
A bipartisan group is nudging the Federal Reserve to explain why it can’t speed up a plan to extend the operational availability of the U.S. payments system.
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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
ATM Marketplace
JULY 30, 2024
Retail ATMs will still be a staple in the years to come for a variety of key reasons related to customer preferences, security and more.
BankInovation
JULY 19, 2024
Banks, airlines and other organizations using Microsoft have reported down systems across the globe as cybersecurity firm CrowdStrike is suffering from the biggest IT outage in history.
Cisco
JULY 19, 2024
Cisco Webex in collaboration with a partner provides a compliance and security solution tailored for digital communications within the Webex Suite, serving major organizations like top North American banks.
South State Correspondent
JULY 18, 2024
Sometime soon, one of the banks reading this will likely be the last bank to handle paper checks. Last week’s announcement that Target, one of the nation’s largest retailers, will not take personal checks past July 15 th has made bankers take notice. Target joins Whole Foods, Aldi, and Lululemon as major retailers that have found that checks eat up too much margin.
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.
Jeff For Banks
JULY 1, 2024
Financial Markets Update – Second Quarter 2024 A dream vacation! I went with family and friends to Holland and Belgium during peak tulip season during April. It was so beautiful and lots of fun. We saw so many fabulous places, including Amsterdam, Kinderdijk and its windmills, Keukenhof Gardens, Brussels, Bruges, and Antwerp. We learned how Holland keeps the floodwaters away.
Payments Dive
JULY 25, 2024
Forcing banks to reimburse authorized payments could encourage bad behavior and would not deter scammers, bank executives said in a Senate hearing.
ATM Marketplace
JULY 19, 2024
ATM fraud continues to be a global problem, with criminals choosing to strike wherever the money is and wherever they find vulnerabilities to exploit. Here are a few ways to prevent it.
BankInovation
JULY 25, 2024
BNP Paribas is investing in AI, cloud infrastructure and cyber security as part of its modernization efforts. “The second quarter marked the continuation of our ambitious but disciplined development within AI,” Chief Financial Officer Lars Machenil said during the bank’s earnings call on July 24.
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.
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