Gonzobanker
APRIL 11, 2023
Ticking these best practice boxes will help keep the monsters at bay on conversion day. It’s one of a banker’s worst nightmares: the digital banking conversion that was designed to improve the customer experience fails – locking users out of their accounts, not showing balances, making wire transfer features inaccessible… It recently happened to a $25 billion bank in the Midwest.
Accenture
APRIL 5, 2023
There’s a lot of buzz about next-gen payments rails globally, but where does North America stand when it comes to adopting these new options? Accenture’s recent consumer payments research—which you’ll find in our report, Payments gets personal: strategies to stay relevant—revealed that North Americans have a clear preference for payment methods they trust, from providers… The post Americans value trust above all in payment options appeared first on Accenture Banking Blog.
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Payments Dive
APRIL 20, 2023
The dollar value of same-day ACH payments nearly doubled in the first quarter as the volume increased 20.7%, Nacha said this week in a quarterly update.
ATM Marketplace
APRIL 7, 2023
Video banking is a now a multi-billion dollar industry. Where's it headed? ATM Marketplace takes a closer look.
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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.
BankBazaar
APRIL 25, 2023
It’s been a crazy year with Home Loans. As the RBI pumped the repo rate up from 4.0 to 6.5. Home Loans became costlier at a pace not seen in years. Voluntary EMI hikes are a great way to reduce Home Loan tenure and get out of debt faster. Read on to know more! Consider someone who may have borrowed at the rock bottom rate of 6.50 last year. With a 2.5 percentage points increase taking their rate to 9.00, their per-lakh EMI on a 20-year loan would rise from ₹746 to ₹900 – a 20% leap within a year
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Abrigo
APRIL 26, 2023
M&A implications of FASB decisions Some recent, tentative FASB decisions on the accounting treatment of purchased financial assets will impact acquisitive institutions when finalized. You might also like this whitepaper, "Valuation and purchase accounting in a dynamic environment." DOWNLOAD Takeaway 1 The FASB is moving ahead with a plan to eliminate the PCD and non-PCD distinctions for acquired assets.
Accenture
APRIL 13, 2023
Banking has been blasted by the winds of change in 2023. If you think we’re not in Kansas anymore, you’re not alone. The industry right now has a surprising amount in common with some of the most iconic characters from The Wonderful Wizard of Oz, the famous L. Frank Baum story published in 1900 and… The post 5 ways to reignite customer relationships for growth appeared first on Accenture Banking Blog.
Payments Dive
APRIL 24, 2023
Card, ACH and check payment values climbed from 2018 to 2021, as cash was left behind, according to the Federal Reserve’s noncash payments study.
South State Correspondent
APRIL 24, 2023
Just when you were getting your bank’s head around how you will operationalize ChatGPT (our breakdown HERE ), AutoGPT, an application built on top of ChatGPT, gets released and takes the technology to a new level. We have played with this “AI agent” for the past two weeks and can report that it will be a must-have tool to be included in any generative AI initiative.
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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.
CFPB Monitor
APRIL 17, 2023
On April 6, 2023, the U.S. Department of the Treasury released a report examining vulnerabilities in decentralized finance (“DeFi”), including potential gaps in the United States’ anti-money laundering (“AML”) and countering the financing of terrorism (“CFT”) regulatory, supervisory, and enforcement regimes for DeFi. The report concludes by making a series of recommendations, including the closing of “gaps” in the application of the Bank Secrecy Act (“BSA”) to the extent that certain DeFi ser
Perficient
APRIL 11, 2023
In our first blog in this series, Getting Started With Client Remediation (Part 1 of 3) , we discussed how to get a client remediation program started, what levels of an organization should be involved in the client remediation program, and how ultimately positive outcomes, such as lower risks, improved technology, and risk monitoring, may result from a successful client remediation program.
Abrigo
APRIL 25, 2023
How and when to end a banking relationship If your financial institution's AML/CFT program spends valuable time filing repeat SARs on customers, read on to learn how and when to end the relationship. You might also like this webinar, "Best Practices for Writing SARS." Watch Webinar Takeaway 1 Getting stuck in a cycle of repeated SAR filing for the same customer can be a strain on your financial institutions' time and resources.
Accenture
APRIL 24, 2023
Banks have the opportunity of a lifetime. And if they don’t act now, it’s going to slip from their grasp. I’ve just returned from speaking with senior bank executives around the US and Europe. The topic of our talks? One of the many pressing issues facing commercial banks today: sustainable credit—using banks’ capital resources to… The post Banks can no longer stall on sustainability appeared first on Accenture Banking Blog.
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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.
Payments Dive
APRIL 11, 2023
The gaming payments service provider, previously part of processor Global Payments, aims to increase business by investing in technology and more staff.
South State Correspondent
APRIL 23, 2023
Analysts, regulators, legislators, and bankers have been attributing the root cause of SVB’s failure in the past month. Some blame the dilution of the Dodd-Frank provisions, others the lack of oversight by regulators, and others still blame social media for exacerbating the deposit run. The root cause of Silicon Valley Bank’s (SVB) failure is poor risk management – plain and simple.
BankBazaar
APRIL 13, 2023
B ig wad of cash or a sl eek Credit Card ? Let’s help you figure out the pros and cons of both when travelling abroad , along with a few pro tips on using Credit Card s overseas. Business or leisure? You do not have to state the purpose of your visit to us, but we know for sure that you are going to spend when in a foreign country. Handling finances could be as daunting as figuring out the many nuances of a new country.
CFPB Monitor
APRIL 7, 2023
In the CFPB’s second attempt to define “abusive” acts or practices, the first being guidance rescinded a year after it was given in 2020, the CFPB has issued a new policy statement in which it turns to statutory analysis and past enforcement actions to provide a framework for determining what constitutes abusive conduct. .
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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
Abrigo
APRIL 24, 2023
Construction loans grow, delinquencies flatten in 2023 Construction lending projections look positive according to S&P data from 2022 and 2023. How can your institution prepare to grow its construction portfolio? You might also like this webinar, "How to manage a high-performing construction loan portfolio." WATCH Takeaway 1 An S&P Global Market Intelligence report shows delinquencies leveling off and loans growing in the construction sector.
Accenture
APRIL 27, 2023
The growing threat of climate change has spurred banks and other financial services companies to step up efforts to become sustainable. Many have pledged to fight climate change and reduce their greenhouse gas emissions to net zero. Far fewer firms, however, have begun the vital task of arresting the destruction of our natural environment. Without… The post Nature is key to banks’ sustainability ambitions appeared first on Accenture Banking Blog.
Payments Dive
APRIL 25, 2023
Fiserv bested FIS in the competitive payments processing market last year, handling more transactions with a larger value, said an industry consultant.
South State Correspondent
APRIL 19, 2023
Focusing on uninsured deposit performance is a hot topic among investors, analysts, and regulators. The concern is grounded in data as higher balance accounts are more interest rate and risk-sensitive than lower balance accounts. While every bank is now tracking the general metric, only a few banks monitor deposit performance in the category. That is a mistake, as this segment is likely the segment where you can quickly improve deposit performance.
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.
BankUnderground
APRIL 6, 2023
Natalie Burr The challenge of measuring financial conditions Imagine you were tasked with thinking about how financial conditions have changed over a policy tightening cycle. Different economists would come to very different conclusions, and none would necessarily be wrong. Why? Because measuring financial conditions is challenging – for a variety of reasons.
CFPB Monitor
APRIL 11, 2023
On April 11, 2023, the Consumer Financial Protection Bureau Director Rohit Chopra spoke with the Washington Post regarding the banking industry after the failure of Silicon Valley Bank. Director Chopra, who is also a board member of the Federal Deposit Insurance Corporation, focused his messaging on the need to better educate consumers regarding when their deposits are and are not insured by the FDIC.
Abrigo
APRIL 21, 2023
Focus loan reviews on risk in the portfolio Continuous loan review monitoring helps banks and credit unions ensure credit review systems support safe and sound lending. You might also like this webinar, "Return to basics: Asking the right credit risk questions." WATCH Takeaway 1 Continuous monitoring for loan review helps create and support a system for independent credit risk review.
Accenture
APRIL 24, 2023
In February 2023, the UK government released a consultation on draft legislation for Buy-Now Pay-Later (BNPL) services, which outlined the scope of the proposed legislation as well as some exemptions. The proposed legislation aims to prevent consumers getting into unmanageable debt while still allowing them the option to spread the cost of their purchases over… The post BNPL regulation and its potential impact on UK banks appeared first on Accenture Banking Blog.
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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