Sat.Aug 14, 2021 - Fri.Aug 20, 2021

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Strategies to accelerate cloud adoption

Accenture

Banking on the skills to support cloud To stay competitive and effectively drive digital transformation agendas, banks must dramatically accelerate their move to the cloud. At the same time, they must grapple with key issues such as the critical need for next-generation skills and talent management at scale, innovating delivery models and mastering new ways….

Strategy 338
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FinCEN AML/CTF Priorities Part 6: Transnational Organized Crime (TOC)

Abrigo

Transnational Organized Crime Reaches Far and Is Growing One of FinCEN's first priorities for AML/CFT policy is to combat transnational organized crime (TOC). Would you like others articles like this in your inbox? Takeaway 1 Transnational organized crime includes phishing, trafficking, illicit firearm sales, and more. . Takeaway 2 The U.S. in 2001 began outlining strategies to combat transnational organized crime.

Training 195
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What’s a Digital Lending Ecosystem and Why Should Banks Care?

Gonzobanker

Financial institutions aiming for long-term success need to revamp the way they think about digital transformation. There’s a great line in the movie The Princess Bride: “You keep using that word. I do not think it means what you think it means.”. “Inconceivable” is the word the movie character was referring to, but if we were to apply this quote to the banking industry then the word that is constantly being used is “digital transformation” — and based on Cornerstone Advisors’ research, most ban

Lending 148
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File Integrity Monitoring: What It Is and Why You Need It in Your Cybersecurity Arsenal

Jack Henry

What is File Integrity Monitoring (FIM)? FIM is a technology that monitors and detects changes in files that may indicate a cyberattack. Unfortunately, for many banks and credit unions, FIM mostly means noise: too many changes, not enough context around these changes, and very little insight into whether a change actually poses a risk. FIM is a critical security control, but it must provide sufficient insight and actionable intelligence.

Security 148
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Back to Basics with Reconciliations

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.

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Market Commentary: Week of August 16, 2021

SWBC's LenderHub

Last Week. Treasury auctioned off three-year, 10-year, and 30-year notes for a grand total of $126 billion in new issuance. The highlight was the stupendous showing of the 10-year note on Wednesday. The new note stopped through pre-auction yield three basis points, while all the measures of auction performance were very solid. It is interesting to note, earlier in the day, July CPI posted a 5.4% year-over-year increase.

Marketing 148

More Trending

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Reviewing Bitcoin ATMs: LibertyX

ATM Marketplace

Bitcoin ATMs are making a big splash, but how do they line up when it comes to customer experience? In this series, we will take a look at Bitcoin ATMs, starting with LibertyX's line.

ATM 131
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Monetary policy, sectoral comovement and the credit channel

BankUnderground

Federico Di Pace and Christoph Görtz. There is ample evidence that a monetary policy tightening triggers a decline in consumer price inflation and a simultaneous contraction in investment and consumption (eg Erceg and Levin (2006) and Monacelli (2009) ). However, in a standard two-sector New Keynesian model, consumption falls while investment increases in response to a monetary policy tightening.

Policies 115
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Corporate bankers turn over a new leaf with data-driven intelligent automation

BankInovation

Amid sweeping disruptions instigated by Covid 19 globally, the banking diaspora has its task cut out. Unlike the financial crises of yesteryears, the pandemic has imposed a unique predicament by creating an indefinite physical barrier between the banks and their customers, owing to social distancing norms. As the situation continues to take a toll on […].

Data 98
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Lloyds plans big move into UK rental market with 50,000 homes

TheGuardian

Banking group joins other high street names seeking a fresh income at a time of record low interest rates It is already the UK’s largest mortgage lender, and now Lloyds Banking Group aims to become one of its biggest private landlords, with a target of buying 50,000 homes in the next 10 years. Lloyds is the latest big name on the high street to move into the property market: last month it emerged that the retailer John Lewis was considering plans to build 10,000 rental homes over the next decade

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How a Managed Services Partner Can Reduce the Friction in Your RDC Program

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

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Webinar addresses next stage of ATM software

ATM Marketplace

ATM software is about to enter a new stage of innovation with the launch of the XFS4IoT standard. A free webinar, hosted on ATM Marketplace and sponsored by KAL ATM Software, focused on the standard and what it means for the industry.

ATM 114
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Average U.S. FICO® Score at 716, Indicating Improvement in Consumer Credit Behaviors Despite Pandemic

FICO

The FICO® Score is the lingua franca, or common language, for the credit scoring industry. It serves as a broad-based, independent standard measure of credit risk. It is relied upon by stakeholders across the entire lending ecosystem – from regulators, investors and boards to consumers, lenders, and brokers – as a baseline metric for assessing credit risk that is fair to both lenders and consumers. .

Report 98
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Listen: Separating AI cybersecurity hype from reality

BankInovation

In this episode of “The Buzz,” Bank Automation News speaks with cybersecurity research analyst Micah Musser of Georgetown University’s Center for Security and Emerging Technologies, and a co-author of the recent report, “Machine Learning and Cyber Security: Hype and Reality” about the use of artificial intelligence (AI) and machine learning (ML) in creating sophisticated attacks. […].

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Want to get your finances under control? There’s an app for that

TheGuardian

Your smartphone is the gateway to a host of budgeting apps to track spending, saving and investing Keeping track of your spending on the go has never been easier. If you have a mobile phone there are apps that can tell you how much you’ve spent on coffee in the last month, how many subscriptions you have, or even use an algorithm to automatically put money away into a savings account.

Mobile 97
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Budget Playbook for Commercial Lenders — Bank and Credit Union Edition

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.

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Youths Participate in Banking Basics Webinar with Popular Bank and NPRDP

PopularBank

90 Recipients of the 2021 National Puerto Rican Day Parade Scholarship Program Learn How to Manage Their Finances. Popular Bank proudly supported the National Puerto Rican Day Parade (NPRDP) and made a $25,000 gift toward the 2021 NPRDP National Scholarship Program. The NPRDP Scholarship Program rewards outstanding students of Puerto Rican descent with scholarships of $2,000 as they pursue higher education.

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New Cybersecurity Legislation Sparks Concerns Among Financial Trade Groups

Banking Exchange

Groups claim the legislation would hinder, rather enhance, current efforts toward cybersecurity Compliance Technology Duties Cyberfraud/ID Theft Cybersecurity Feature Feature3.

Groups 78
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Jack Henry CEO David Foss shares technology wins for fiscal year

BankInovation

An automated database migration for core platform Episys and a toolkit with APIs for third-party solutions for digital banking suite Banno were among the technology deliverables touted by Jack Henry CEO David Foss during Wednesday’s earnings call. At the top of Foss’ list was an automated data migration delivered by Symitar, a division of Jack […].

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Nationwide to pay £125 to existing members who switch current account

TheGuardian

Existing customers to receive larger reward than new ones, in move that follows HSBC and Virgin Money Nationwide has entered the battle to persuade savers to change their current account provider, offering a cash incentive that rewards those customers who already use one of its services over new ones. Following in the steps of HSBC and Virgin Money, Britain’s biggest building society will pay £125 to existing customers, such as mortgage borrowers, if they also switch their current account to Nat

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Is Your Current Card Platform Holding You Back?

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

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CFPB Releases 2020 HMDA Data Report

CFPB Monitor

The CFPB recently released a report entitled Data Point 2020: Mortgage Market Activity and Trends addressing 2020 Home Mortgage Disclosure Act (HMDA) data. Among various highlights, the Report provides that 4,472 financial institutions reported at least one closed-end loan in 2020, which is down by 18.8 percent from 5,505 financial institutions that reported in 2019.

Report 78
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Inflation Fears Rife Among US Bankers

Banking Exchange

Although bankers remain positive about the future economic conditions, many are concerned the spike in housing prices poses a serious risk to the US economy Risk Management Feature3 Financial Research Feature Financial Trends The Economy.

US 78
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BofA gets record patents as lender focuses on machine learning

BankInovation

Inventors at Bank of America Corp. kept originating ideas, leading to a record-setting first half of the year, even while continuing to work from home. The U.S. Patent and Trademark Office granted the lender 227 patents in the first six months of 2021, up 23% from a year earlier, Bank of America said in a […].

America 98
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From Bartering to Bitcoin: A Visual History of Payments Part 2

SWBC's LenderHub

Mankind has been interacting with payments technology since the literal dawn of civilization. In part one of our two-part infographic series, we explored how the very first methods of payment used on earth developed into the familiar credit cards we all carry around in our wallets today.

Bitcoin 78
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It Takes Two to Tango

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.

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This week’s podcast: A look at the enforcement challenges facing lenders arising out of the federal paycheck protection lending program (PPP), with special guest Louis Bruno, a partner in EisnerAmper’s advisory practice

CFPB Monitor

In this podcast, we discuss: the compliance challenges that could give rise to enforcement actions against PPP lenders and current and potential future investigatory activity; fair lending guidance for PPP lenders, key fair lending risks, and steps to mitigate fair lending risk; the status of examinations and reviews related to PPP loans; sources of compliance risk for PPP lenders; and suggested best practices for risk mitigation.

Lending 78
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Pandemic Fuels Rise in US Consumer Debit Spending

Banking Exchange

Card-not-present (CNP) transactions soared with the shift to digital commerce Payments Technology Financial Trends Lines of Business The Economy Feature Feature3.

US 78
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Robinhood technology and development costs surge 248% YOY

BankInovation

Trading app Robinhood’s technology and development spend is up 248% year over year to $156 million or 28% of total net revenues, the company reported during Wednesday’s earnings call. The Menlo Park, Calif.-based Robinhood also reported record total net revenues of $565 million in Q2, up 131% year over year. A chunk of that was […].

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Facebook digital wallet Novi is ready for market launch

The Paypers

Facebook has announced it will launch the Novi digital wallet tied to the Diem blockchain-based payment system, having received the necessary regulatory clearances.

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3 Ways Managed Device Services Help Community Banks Cut Costs

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