Perficient
NOVEMBER 8, 2021
Bo Berg is a director in Perficient’s financial services practice. He has more than 20 years of experience leading digital transformation initiatives for financial institutions. Bo Berg joins Eugene Sefanov and Madeline McDermott for a Microsoft Teams chat . Denmark, Dogs, & DJing. Madeline McDermott: First things first. Where were you born? Bo Berg: Copenhagen.
Accenture
NOVEMBER 7, 2021
The Efma-Accenture Banking Innovation Awards are set to return on November 18th for a virtual celebration of banking’s best and brightest. With a record 816 innovations submitted by 275 institutions in 73 countries, I’m excited to see what this year has in store. A lot has happened since the 2019 awards—and I know that’s an…. The post Will these innovation trends shape banking’s future?
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Abrigo
NOVEMBER 11, 2021
Ransomware poses a significant threat to FIs. In response to an increase in ransomware attacks, the latest FinCEN advisory shows the dynamic nature and criticality of ransomware threats. . Would you like other articles like this in your inbox? Takeaway 1 Cyber attacks – ransomware specifically – are the most significant threat to U.S. financial institutions.
Jack Henry
NOVEMBER 12, 2021
Payments fraud impacted 82% of financial institutions last year. And it’s inevitable, pervasive, and growing with every payment channel threatened by unique, ingenious, and constantly evolving schemes. So, if you’re among the 88% of financial institutions that confirmed (during a recent Accenture survey) you have multi-year payment transformation plans, fraud mitigation should be a cornerstone of your payments partner due diligence.
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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.
SWBC's LenderHub
NOVEMBER 8, 2021
Last Week. “Tap, tap, tap,” went fingers onto the shoulders of traders with bad, short positions in long-dated U.S. Treasuries, and the bloody short squeeze continued. On Wednesday, the FOMC meeting concluded, and the message was mixed. Regarding QE tapering, the Fed delivered as promised, and they will be reducing the amount of Treasuries and MBS they purchase by $15 billion per month.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Abrigo
NOVEMBER 11, 2021
Ransomware poses a significant threat to FIs. In response to an increase in ransomware attacks, the latest FinCEN advisory shows the dynamic nature and criticality of ransomware threats. . Would you like other articles like this in your inbox? Takeaway 1 Cyber attacks – ransomware specifically – are the most significant threat to U.S. financial institutions.
Jack Henry
NOVEMBER 8, 2021
Well, folks, that pesky word “pivot” is still alive and well. Over the summer, COVID-19 cases were trending in the right direction and the country was well on its way to what felt like normal. I personally was gathering with family, dining inside at restaurants, reconnecting with friends, and looking forward to attending the JAC|SEC in person in Phoenix, Arizona.
SWBC's LenderHub
NOVEMBER 9, 2021
Dead Man's Curve, it's no place to play Dead Man's Curve, you best keep away Dead Man's Curve, I can hear 'em say Won't come back from Dead Man's Curve – Jan & Dean.
ATM Marketplace
NOVEMBER 9, 2021
Bitcoin ATMs are becoming a more common sight across the U.S., as many convenience stores and gas stations have begun deploying them. At the same time, there are also security concerns with Bitcoin ATMs. Kraken Security Labs recently uncovered a number of vulnerabilities with a Bitcoin ATM.
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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
BankInovation
NOVEMBER 12, 2021
It was a diverse week for fintech funding, with hundreds of millions of dollars pouring into identity verification and buy now pay later (BNPL) technology companies and substantial investment in an automated compliance platform. Socure secures $450 million New York-based Socure closed a $450 million series E funding round, raising a total of $649.6 million […].
TheGuardian
NOVEMBER 12, 2021
Guardian Money hears from people trapped on high-cost deals after bank wrongly recorded defaults on files Barclays has been accused of putting its mortgage customers through a “nightmare” by wrongly recording defaults on their credit files , meaning they are trapped on high-cost deals for home loans and other borrowing. Guardian Money has spoken to a number of people who say Barclays has repeatedly marked them down as having defaulted on their mortgage payments despite them having paid in full.
FICO
NOVEMBER 8, 2021
As of April 2021, the average FICO® Score in the United States sits at 716 , an increase of eight points compared to April 2020, which is around the time the economic shutdown driven by COVID-19 began in earnest. While the COVID-19 pandemic resulted in economic hardship for many people, it also changed the credit behaviors of millions of consumers and led to the deployment of payment accommodations offered by lenders to help impacted customers with their debts. .
ATM Marketplace
NOVEMBER 12, 2021
The BCX Summit provided a variety of banking lessons on fintechs, self-service and the importance of real relationships.
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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.
BankInovation
NOVEMBER 11, 2021
Payment automation company AvidXchange is targeting credit unions with a customized offering that streamlines the invoice-to-pay process. The pandemic-induced spike in digital banking has led credit union members to expect cutting-edge banking solutions, Boyce Adams, senior vice president of financial services, told Bank Automation News. “This meant credit unions needed to spend more time on […].
CFPB Monitor
NOVEMBER 11, 2021
With the return to repayment of federal student loans on February 1, 2022 quickly approaching, the Department of Education’s Office of Federal Student Aid (FSA) recently notified the private collection agencies (PCAs) under contract with FSA to collect Direct Loans that it would begin the process of recalling approximately 5.1 million borrower accounts and winding down the PCAs’ contracts.
Banking Exchange
NOVEMBER 10, 2021
Three-year commitment also supports minority communities with affordable housing and investment in Black-owned businesses Community Banking Feature3 Feature Duties Fair Lending Diversity Human Rights.
SWBC's LenderHub
NOVEMBER 8, 2021
We are a society of multitaskers armed with smartphone technology. We pay bills from our phones on our lunch break, text while doing just about everything, and respond to emails in the middle of meetings. Digital technology has given rise to a “there’s an app for that” mentality that makes multi-tasking ubiquitous across nearly every aspect of our daily lives.
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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
NOVEMBER 12, 2021
Trade expenses can reduce profits by 20%, with brokerage-related fees being a top-three business expense for many financial institutions, but automation could be the solution. Daniel Carpenter, commercial lead for intelligent automation platform Meritsoft, discusses post-trade automations in this episode of “The Buzz” podcast. “There's been an underinvestment in the backend side of things and operational side of things,” Carpenter tells Bank Automation News.
CFPB Monitor
NOVEMBER 11, 2021
In the latest demonstration that there’s a “new CFPB” as well as other new regulatory sheriffs in town, the CFPB, the federal banking agencies (OCC, FDIC, Federal Reserve Board, and NCUA), and state financial regulators issued a joint statement yesterday to announce that they will no longer provide “supervisory and enforcement flexibility” to mortgage servicers in meeting compliance requirements.
Banking Exchange
NOVEMBER 10, 2021
Bank capital ratios remained well in excess of regulatory requirements finds Federal Reserve financial stability report Risk Management Feature3 Feature Financial Research Financial Trends The Economy Compliance.
Jeff For Banks
NOVEMBER 7, 2021
We have much work to do, little resources to get it done, and a short time to make it happen. So we should avoid doing things that don't benefit our stakeholders. Even following stakeholder primacy, to the non-believer, thinks it is an unnecessary pursuit that distracts us from delivering to shareholders. That is what a bank CEO told me recently. My case in my book, Squared Away-How Can Bankers Succeed as Economic First Responders , was that pursuing stakeholder primacy mitigates one of the grea
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With automation, you’ll reduce errors and save valuable time, allowing you to focus on what really matters: strategic analysis and insightful decision-making. Picture accurate financial reports ready at your fingertips, giving you the confidence to tackle business challenges head-on. Embracing automation not only boosts productivity but also elevates your role from number cruncher to closing rockstar.
BankInovation
NOVEMBER 9, 2021
Creating a central repository of data, or a "data lake," can enhance bank systems' interoperability and data utilization, but the practice can also backfire with the wrong approach and become a detriment. That's the message from Michael Hom, head of financial services solutions at database systems provider InterSystems, whose customers include $407.5 billion Bank of […].
CFPB Monitor
NOVEMBER 10, 2021
On October 29, the New York Department of Financial Services issued proposed amendments to 23 NYCRR 1, its regulation titled “ Debt Collection by Third-Party Debt Collectors and Debt Buyers.” The proposed amendments would make significant changes to the sections of the current regulation dealing with initial disclosure requirements, statute of limitations disclosures, substantiation requirements, and telephone and electronic communications.
ABA Community Banking
NOVEMBER 9, 2021
A U.S. central bank digital currency, or CBDC, would be a “threat to core funding to the banking industry,” Jim Reuter, ABA board member and president and CEO of FirstBank in Lakewood, Colorado, said on a new episode of IntraFi Network’s Banking with Interest Podcast. The post Reuter Discusses Threat of Central Bank Digital Currencies appeared first on ABA Banking Journal.
The Paypers
NOVEMBER 9, 2021
Rapyd , a global Fintech as a Service company, has announced new additions to its Disburse and Collect Platforms, delivering end-to-end infrastructure for B2B firms.
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Community banks seek ways to leverage their technology infrastructure to drive productivity and growth. However, the sheer volume of technology devices, capital constraints, and lack of skilled resources stand in the way. This Strategy Brief explores how a managed device services partner can help bridge this resource gap. Managed device services partners empower community banks to take charge of mission-critical device management activities with: Logistics and installation services to support se
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