Accenture
JUNE 1, 2021
In my first blog in this short series on how the behaviour of UK financial services customers has changed amid the pandemic, I looked at the way COVID-19 has accelerated consumers’ migration to digital banking services. And I drew on the UK findings from our Banking Consumer Study: Making digital more human to examine the….
Abrigo
JUNE 14, 2021
Create an effective sanctions program Considering the current economic and political environment, it is crucial that financial institutions maintain a strong sanctions compliance program (SCP). Would you like others articles like this in your inbox? Takeaway 1 OFAC has issued new guidance on the essential components of a strong compliance program. Takeaway 2 Financial institutions must train front-line staff to identify behavioral red flags that could indicate elder financial abuse.
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Jack Henry
JUNE 3, 2021
After 15 years in the conversion business , I still get asked the same question. “What can we do to ensure a successful and accurate data conversion?” It can be challenging because most banks and credit unions will never go through an acquisition of another site or a change of their vendor. And those who do may only do it a few times, with a different contact handling the effort each time.
SWBC's LenderHub
JUNE 7, 2021
Last Week. While the major stock indices continued to grind higher and Treasury yields drifted in a very tight range, last week was still quite interesting. Retail investors, the new 800-pound gorilla, drove their new love interest, AMC, up 83% for the week. At one point on Tuesday, the stock was up over 140% from the prior week’s close. Other favorites such as Koss, Bed Bath and Beyond, and Blackberry were also driven to the moon.
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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.
TheGuardian
JUNE 19, 2021
Nicholas Wilson says redress scheme is a direct result of his campaign over excessive charges Nicholas Wilson has spent years pursuing HSBC over the way it treated some people who fell behind with payments, and when he claimed the bank might owe customers more than £200m, it arguably sounded pretty fanciful. For more than a decade he was ignored and dismissed but HSBC eventually set up a £4m compensation scheme to remedy “a historical issue”.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Accenture
JUNE 9, 2021
Following our article on 5 actions to enable Open Banking for business finance, we now consider how commercial banks can innovate their entire business model by using Open Banking frameworks to build a powerful ecosystem. Open Banking, accelerated by the Consumer Data Right (CDR) in Australia, aims to give customers control of their data and….
BankUnderground
JUNE 9, 2021
Belinda Tracey. ‘Zombie lending’ occurs when a lender supports an otherwise insolvent borrower through forbearance measures such as repayment holidays and temporary interest-only loans. The phrase was first coined for Japan in the late 1990s , but more recently several authors have documented that zombie lending to European firms has been widespread following the sovereign debt crisis (see Acharya et al (2019) , Adalet McGowan et al (2018) , Banerjee and Hofmann (2020) , Blattner et
Cisco
JUNE 14, 2021
Earlier this year Cisco completed its acquisition of imimobile, adding an enterprise-grade CPaaS platform to Cisco’s industry-leading collaboration and contact center solution portfolio. The Cisco Financial Services team welcomes imimobile’s Jay Patel – VP & CEO of imimobile as our guest blogger this week.
ABA Community Banking
JUNE 24, 2021
For Bernard Tynes, realizing the power of marketing takes the perfect combination of gut feeling and hard information. The post Driven by Data appeared first on ABA Banking Journal.
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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
TheGuardian
JUNE 23, 2021
Bank warns staff they have less than three weeks to take both Covid jabs or continue working from home Coronavirus – latest updates See all our coronavirus coverage Employees and visitors to Morgan Stanley will be barred from entering the bank’s New York offices unless they are fully vaccinated against Covid-19 from next month, as the Wall Street firm prepares to get staff back to their desks by early September.
ATM Marketplace
JUNE 15, 2021
Banks are rushing to create better branch experiences in the wake of changing customer expectations post pandemic. But how can they make the transformation successful? Here are a few trends to keep in mind to help with that
Accenture
JUNE 8, 2021
In our last post we discussed the different channel strategies banks can adopt when considering their place in the open banking ecosystem. We spoke about the opportunity this brings for banks to distribute their products through non-banks and for banks to distribute non-bank products. Globally we are seeing this happening already, and conversations are increasingly….
BankUnderground
JUNE 16, 2021
Catherine R. Schenk. In partnership with the Data Analytics for Finance and Macro Research Centre at King’s Business School and the Qatar Centre for Global Banking and Finance at King’s Business School, the Bank of England organised a ‘ History and Policy Making Conference ‘ in late 2020. This post contributes to our occasional series of guest posts by external researchers who presented their research at this conference.
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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.
FICO
JUNE 21, 2021
With novel artificial intelligence (AI) applications multiplying like rabbits these days, it may seem like the current wave of AI innovation is all beer and skittles. Lawsuits have a way of sobering up any metaphorical party and, in the wake of numerous high-profile racial bias and fairness cases, The Wall Street Journal reports that companies including Google, Twitter and Salesforce say they “plan to bulk up ethics teams responsible for evaluating the behavior of algorithms.”.
ABA Community Banking
JUNE 21, 2021
By focusing on employee empowerment, banks of all sizes are catalyzing innovation and a healthy workplace culture. The post The Fully Empowered Banker appeared first on ABA Banking Journal.
TheGuardian
JUNE 22, 2021
Note honouring mathematician, computer pioneer and codebreaker contains advanced security features The new £50 note goes into circulation on Wednesday – but with consumers increasingly going cashless, for millions of people it may be months or even years before they see or touch one. It’s been around for 40 years, but the £50 note doesn’t have a great image: there is a perception that aside from some overseas tourists, the only people who use them are criminals, tradespeople looking to evade tax
ATM Marketplace
JUNE 18, 2021
Customers' expectations have changed dramatically these past few years. They now expect seamless experiences across all channels. Can your ATM keep up with this demand?
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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
BankInovation
JUNE 29, 2021
Organizations, including those in financial services, are struggling to realize the full value of automation, in part because they’re tentative about fully rolling it out. That’s left nearly half of process automation deployments at the proof-of-concept stage or team scale, although process automation received a high satisfaction rating in a recent survey by Emergence Partners, […].
BankUnderground
JUNE 25, 2021
Robert Czech, Simon Jurkatis, Arjun Mahalingam, Laura Silvestri and Nick Vause. Financial markets reflect changes in the economy. But sometimes they amplify them too. Both of these roles were evident as the Covid-19 (Covid) pandemic materialised. As the economic outlook deteriorated, risky asset prices fell in reflection of that. And those falls were amplified as some investors reacted by liquidating assets.
Qudos Bank
JUNE 15, 2021
Most people have been surprised by an unexpected bill before, whether it’s an expensive car repair or a higher-than-expected energy bill during a hot Summer. If you haven’t planned for them, these costs can easily sneak up on you and cause a financial headache.
ABA Community Banking
JUNE 23, 2021
Many banks have until January 1, 2023 before they must implement the current expected credit loss standard, or CECL. But it’s not too soon to start gleaning lessons from larger institutions that are already utilizing the new standard. The post CECL’s First Wave Offers Insights for Smaller Banks appeared first on ABA Banking Journal.
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.
TheGuardian
JUNE 25, 2021
Millions of older and vulnerable people cut off from ATMs and banking services, charity finds Banks must move swiftly to guarantee access to money for everyone as the cash system in part of the UK veers towards market failure, a national charity has said. Age UK warned that millions of UK citizens are cut off from cash and banking services. The lack of facilities is causing many to fall victim to financial abuse after being forced to rely on others to make transactions on their behalf, the chari
ATM Marketplace
JUNE 29, 2021
If you look up "cashless" on Google, you will inevitably find articles that argue the future is cashless and cash is old news. But…that isn't entirely true
BankInovation
JUNE 21, 2021
Forget Elon Musk tweets, regulatory missives and Bitcoin’s energy consumption. To hedge fund manager Shiliang Tang, the biggest crypto story this year is taking place in the shadows: An options market that’s booming and shaking up digital-currency trading along the way. At his $130 million fund LedgerPrime, filled with Wall Street converts from the likes […].
BankUnderground
JUNE 11, 2021
Mahmoud Fatouh. IFRS 9 versus IAS 39. In 2018, IFRS 9 came into effect, replacing IAS 39. IFRS 9 has important implications especially for banks, as they mostly hold financial assets. IAS 39 is based on the incurred-loss model, which allows recognition of credit losses (in the form of provisions) only when there is objective evidence of impairment, dividing loans into performing and impaired loans ( Figure 1 ).
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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