Payments Dive
JUNE 25, 2024
On Tuesday, Judge Margo Brodie denied a preliminary settlement proposal made by the card networks Visa and Mastercard, and merchants who sued them in federal court nearly two decades ago.
ATM Marketplace
JUNE 19, 2024
Marbue Brown, author, consultant, and CX executive, shares strategies for balancing AI with the human touch in customer experience development, the topic of his panel at the ICX Summit in Charlotte, NC on September 9-11.
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Accenture
JUNE 24, 2024
Following the release of our new report, “The age of AI: Banking’s new reality”, I sat down with my team to discuss how generative AI is reshaping the banking industry. It sparked an interesting conversation about current adoption journeys, strategic priorities, and the exciting possibilities ahead for banks. I thought I’d share some of the… The post The impact of generative AI in banking appeared first on Accenture Banking Blog.
Gonzobanker
JUNE 20, 2024
Bankers are not meant to be renegades, but now is not the time to shy away from deploying new ideas. Right now, one of the trendiest words in banking is living up to the industry’s stereotype — “boring.” Cue the Patagonia sweater vests and soft jazz music. According to a Businessweek article , the word boring has been used by bank execs and analysts at least a dozen times on banks’ conference calls as of May this year.
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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.
BankInovation
JUNE 25, 2024
Point-of-sale financing as an alternative payment method is a growing opportunity for lenders, technology company Pagaya’s President Sanjiv Das says on this episode of “The Buzz” podcast. According to auto lender and Pagaya partner Ally Financial, POS financing is expected to reach a value of more than $81 billion by 2030.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Dive
JUNE 7, 2024
The state may become the first in the nation to outlaw the imposition of credit and debit card interchange fees on state excise tax and tips.
Perficient
JUNE 25, 2024
On June 6, Acting Comptroller of the Currency, Michael J. Hsu, addressed the 2024 Conference on Artificial Intelligence (AI) and Financial Stability, providing critical regulatory insights on AI. Hsu discussed the systemic risk implications of AI in banking and finance using a “tool or weapon” approach. He noted that while both tools and weapons pose threats to financial stability, they do so in different ways, necessitating distinct analyses.
Accenture
JUNE 27, 2024
Ella Fitzgerald was one of the first, in the ‘30s, to have a hit with the song ‘Ain’t What You Do, It’s the Way That You Do It’. The fact that legions of musicians have and continue to record it tells me there’s a universal truth there that most people recognize. This is certainly the… The post Five key success factors for commercial banks to scale generative AI appeared first on Accenture Banking Blog.
South State Correspondent
JUNE 11, 2024
FDIC-insured “Problem Banks” list has been increasing over the past two years. For the community banking industry (banks under $10B in assets), this is particularly troubling as the number of community banks earning negative return on equity (ROE) spiked to 237 institutions in Q1/24, or 5.71% of all community banks. Bank ROE is now a problem. We aim to explain the reason for this spike in the percentage of unprofitable community banks so that bankers can better manage their business model.
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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.
Gonzobanker
JUNE 6, 2024
Add these action items to your card fraud checklist to strengthen your defenses. The hacker group ShinyHunters allegedly breached Ticketmaster’s data in late May 2024, including credit and debit card information for over 560 million consumers worldwide. That’s more than 2.5 times the prior largest breach of Experian a decade ago. So, what will happen to U.S.
Abrigo
JUNE 4, 2024
Navigating credit quality, compliance, and technology integration The ThinkBIG conference hosted by Abrigo fosters networking and professional development for bankers. Read some hot topics discussed by the conference's opening panel. You might also like this on-demand webinar, "Navigating uncertain times: Strategies for risk management and compliance.
Payments Dive
JUNE 13, 2024
The tech giant will allow installment plans from Affirm, as well from certain debit and credit cards, onto Apple Pay alongside its own BNPL service.
Perficient
JUNE 19, 2024
Our risk and regulatory compliance experts, Carl Aridas and Chandni Patel, have just returned from XLoD 2024 in New York. The event brought together the world’s top financial institutions and regulators to discuss the future of non-financial risk and control. With over 500 industry professionals in attendance, it showcased the unwavering commitment to practical innovation within the field.
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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.
Accenture
JUNE 18, 2024
If it wasn’t already apparent, the sudden emergence of generative AI has certainly confirmed it: the ability to quickly respond to new challenges and opportunities is a critical attribute of any successful organization, including banks. The agility that allows an organization to respond effectively is influenced by several factors, such as skills, culture and corporate… The post Solving the puzzle: How interoperability eases banks’ core modernization dilemma appeared first on Accentu
South State Correspondent
JUNE 27, 2024
Because of the option to add or remove deposit balances over time, deposit management is one of the more complicated endeavors in banking. Lending, by comparison, is largely a one dimensional supply vs. demand problem. Building better deposit performance is more complicated. Add a three month CD option for your customers and the duration of your money market accounts can noticeably get reduced.
ATM Marketplace
JUNE 21, 2024
ATM security is a moving target. Here are five ways to hit the mark.
Abrigo
JUNE 28, 2024
Navigating interest rate management in today's environment As regulators focus on interest rate risk management, read about what financial institutions can do to be ready for a rate drop. You might also like this on-demand webinar, "Navigating uncertain times: Strategies for effective risk management and compliance." WATCH Takeaway 1 Many financial institutions are questioning where rates are headed and how to structure their ALM strategies accordingly.
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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
JUNE 12, 2024
The P2P ‘Tap to Cash’, which enables iPhone users to transfer money by holding their phones together, was unveiled along with a slate of other features Monday.
BankInovation
JUNE 20, 2024
Morgan Stanley’s Jeff McMillan, head of firmwide artificial intelligence, is focused on developing and deploying AI throughout the operations of the $212 billion financial institution. The New York-based FI appointed McMillan to the newly created position March 14, he told Bank Automation News.
Accenture
JUNE 13, 2024
In May of 2024, the Aurora Borealis, also known as the Northern Lights were on full display for the largest proportion of the United States in decades. The Northern Lights are caused by geomagnetic flairs or “solar storms” from the sun, which can lead to extremely disruptive events on Earth. In 2003, an extreme solar… The post Key considerations for North American retail banks amid ongoing uncertainty appeared first on Accenture Banking Blog.
South State Correspondent
JUNE 25, 2024
In a previous article [ here ] we discussed why community banks need product managers to ensure that financial products and services are effectively developed, launched, and managed to meet customers’ evolving needs and the bank’s risk and profitability goals. In this article, we provide a concrete example of how product management in lending might work.
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.
ATM Marketplace
JUNE 4, 2024
Is cash on its way out or will it stick around for the future?
Jeff For Banks
JUNE 17, 2024
Last year I wrote a Forbes Finance Council article What's Missing in the CFPB's War on Junk Fees ? That war was being waged against overdraft fees. I stated that comparing the fee assessed on an overdraft to the cost of processing one is like comparing the cost to manufacture a pill to the cost of the medication. It is short-sighted to isolate overdraft fees from the total cost to originate and maintain a checking account.
Payments Dive
JUNE 14, 2024
The judge's likely rejection would scuttle a $29.79 billion deal that was two decades in the making.
BankInovation
JUNE 12, 2024
ING is running a generative AI-driven chatbot pilot in the Netherlands before it plans to scale the technology. The pilot funnels only 2.5% of clients’ chats into its gen-AI chatbot, Chief Analytics Officer Bahadir Yilmaz told Bank Automation News at the recent Money2020 Europe event in Amsterdam.
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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