Accenture
NOVEMBER 3, 2021
Sibos 2021, one of the world’s largest financial services conferences, was once again all digital this year. Held from October 11-14, it saw over 19,000 delegates gather to address the biggest emerging issues across the financial ecosystem. The theme this year was “Recharging Global Finance.” In light of the significant changes in payments in recent….
Abrigo
NOVEMBER 3, 2021
FinCEN provides guidance on Cyber Fraud What can financial institutions do to prevent and detect cyber fraud? You might also like this blog on FinCEN's AML/CTF priorities on cyber fraud. Read. Takeaway 1 With the rise in work from home, cyber criminals have targeted remote networks and have found them easier to infiltrate. . Takeaway 2 Illicit actors are teaming up to pull off greater and more detailed fraud schemes to go for larger payoffs, including double extortion. .
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Independent Banker
OCTOBER 31, 2021
Photo by Robert Severi. Community banks are independent institutions fueled by the needs of their individual communities, so what constitutes innovation will look and feel different for every bank. As the popular saying goes, “Creativity is intelligence having fun”—and the same can be said for innovation. As community banks seek to evolve, we bring together the best elements of wise business strategy and out-of-the-box thinking to invent new solutions for a better customer experience.
SWBC's LenderHub
NOVEMBER 1, 2021
Last Week. Last week was one for the ages in rates space. The week started where it left off the prior with inflation breakevens (BE) exploding with the 5-year BE hurtling toward 3%. Then, in the middle of the week, the Bank of Canada announced that it was ending its quantitative easing buying and signaled that they would begin tightening in early 2022.
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Most people dread the nearing of the month-end close and reconciliation process, and who can blame them? It's typically a tedious, long, stressful process; but it doesn't have to be. Implementing automation into your month-end process can significantly reduce this headache by automating up to 40% of your reconciliation and saving nearly 30% of your time spent.
Accenture
NOVEMBER 2, 2021
In my previous post, I started the conversation about the Business of Experience (BX). I encouraged Canadian banks to look beyond the Customer Experience (CX) to not only retain their current customers but also acquire new customers at a time when so many are willing to move banks for more meaningful experiences. Previously, I recommended…. The post Beyond CX: BX delivers exceptional experiences appeared first on Accenture Banking Blog.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Independent Banker
OCTOBER 31, 2021
By Lindsay LaNore, ICBA. When the word brainstorm first came into being, it described a sudden, violent fit. Midway through the 20th century, an American advertising executive used the term to describe a “commando” system for attacking creative problems, and the idea took off. Today, as we start to look ahead at 2022 plans, it’s an ideal time to revisit the concept.
TheGuardian
NOVEMBER 2, 2021
Financing in lead up to Cop26 largest of all major UK banks, finds campaigners Barclays has financed more in fossil fuel projects than any of the UK’s largest banks in the months leading up to the Cop26 climate talks in Glasgow, according to a report by climate finance campaigners. The bank financed $5.6bn (£4.1bn) for new fossil fuel projects from January 2021 to the eve of the UN climate summit, Market Forces found, despite growing international warnings that any new fossil developments would
Accenture
NOVEMBER 1, 2021
Middle market banks had two responses when they were inundated with PPP loan applications. Some took an all-hands-on-deck approach to repurpose the workforce to meet the deadlines. Others turned to third parties to stand up processing capacity fast. Either way, what was initially a focus on filling a “right now” need has turned into a…. The post What’s the next opportunity in back-office services for banks?
Abrigo
NOVEMBER 1, 2021
Combating Cyber-Enabled Fraud Requires Communication Increases in cybercrime or cyber-enabled fraud deserve attention from financial institutions, as Abrigo expert Terri Luttrell explains in this video. . You might also like this whitepaper, "The 2021 BSA/AML and Fraud Staff Survey: Top Issues for FinCrime Fighters". DOWNLOAD. . Takeaway 1 BSA and fraud functions have historically been siloed, and IT has been external to compliance.
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Dive into the complexities of New York lien laws with our comprehensive eBook, 'New York Lien Law Essentials: 5 Key Facts for Commercial Lenders.' In this detailed guide, we explore the critical formalities necessary for lenders navigating ground-up construction and fix-and-flip projects in the New York market. From documentation requirements to the implications of non-compliance, learn how to safeguard your lending position and prioritize legal adherence.
Independent Banker
OCTOBER 31, 2021
Photo by Heather Esposito. Working with a community bank is like being welcomed into the fold, and that’s why we choose our partners with care. Fall is my favorite season for all that it delivers: college football, tailgating, barbecue, changing leaves and crisp air. But when I think about what makes this time of year special, it’s the sense of community it creates.
TheGuardian
NOVEMBER 1, 2021
Executive plans to challenge findings of FCA inquiry and will be replaced by head of global markets Venkat Barclays chief executive Jes Staley is stepping down after an investigation by the City watchdog over his links to the sex offender and disgraced financier Jeffrey Epstein. The bank said its board reached an agreement over Staley’s resignation after being notified on Friday of the preliminary conclusions in an investigation by the Financial Conduct Authority (FCA) and the Prudential Regulat
ATM Marketplace
NOVEMBER 2, 2021
As mobile and contactless payments expand, consumers expect safe and convenient ways to send and receive money in all types of environments. Payment technology providers aren't missing a beat in addressing this need.
Jack Henry
NOVEMBER 1, 2021
One in three consumers (32%) say they will walk away from a brand they love after just one bad experience. 91% of customers who are unhappy will leave a brand without complaining. 89% of consumers have switched to doing business with a competitor following a poor experience.
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In this report, you’ll find a comprehensive analysis of survey responses from executives at banks, credit unions, and insurance companies concerning their organization’s current and future use of automation. The report’s key insights include: Which types of automation are saving organizations the most time and money How to overcome the biggest barriers to automation implementation and adoption Why automation investments will continue to grow over the next few years How much you could save in 202
Independent Banker
OCTOBER 31, 2021
Photo by Anchiy/Getty Images. How Americans bank has been changing for years, including how they start their banking relationships. Offering the ability to open an account online can be one way to reach customers who are unable to join your community bank in person. By Jen A. Miller. A customer can make the decision to switch to a community bank or open their first bank account any time, any day, including outside business hours.
MerhantsBanks
NOVEMBER 5, 2021
Jennifer Welch and Dave Pierret have been named Co-Chairs for Merchants Bank’s 2021 10 Days of Giving food drive, which runs December 1-10. The effort, which benefits food shelf programs operated by Winona Volunteer Services (WVS), will be celebrating its 33rd year. To date, more than 4 million pounds of food have been collected. Last […].
ATM Marketplace
NOVEMBER 2, 2021
After nearly two years of grappling with COVID-19, about the only thing that feels certain is that the world will continue to face uncertainty for the foreseeable future. This 14th edition of the ATM & Self-Service Software Trends report looks at the past year as well as advances that are pushing the ATM into a more future-thinking role.
BankInovation
NOVEMBER 5, 2021
The automation company WorkFusion, which offers a packaged solution to financial institutions and counts the $1.7 trillion Deutsche Bank and the $4.1 billion Carter Bank & Trust among its customers, will focus on shifting its own premise solution to the cloud. In this week’s episode of "The Buzz" podcast, WorkFusion’s new CEO, Adam Famularo, discusses […].
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As we step into 2024, the lending landscape evolves rapidly with technology, regulations, and market dynamics driving change. For banks and financial institutions to stay competitive and meet the evolving needs of their customers, these drivers must be understood and engaged with. Lenders can anticipate significant transformation fueled by technological advancements, regulatory shifts, and changing consumer behaviors.
Independent Banker
NOVEMBER 1, 2021
What is an omnichannel approach to onboarding? After the pandemic essentially caused in-branch banking to be impossible for many months, banks were forced to revamp their online account opening processes (among other digital banking capabilities) so that they could still acquire new customers. As a result, many banks turned to companies like Alloy for help automating their KYC/AML decisions and mitigating fraud during the online onboarding process.
MerhantsBanks
NOVEMBER 2, 2021
Chris Thrune has been promoted to Mortgage Lender at Merchants Bank, according to Sue Hovell, Director of Retail Banking Performance. Chris replaces Rhonda Merchlewitz, who retired in November after 23 years serving mortgage customers in St. Charles and Winona. “It’s a huge benefit to have someone with Chris’s background as your Mortgage Lender,” said Hovell. […].
ATM Marketplace
NOVEMBER 5, 2021
The ATM industry has come through a lot of ups and downs over the years, but it continues to tackle every issue head on, as found in the 14th annual ATM and Self-service Software Trends and Analysis report. A webinar sponsored by KAL and hosted by ATM Marketplace analyzed some key findings of the report on Nov. 2.
BankInovation
NOVEMBER 5, 2021
The big funding news this week was Digital Currency Group’s $10 billion valuation after a $700 million secondary sale – a deal that made mainstream news. That’s because the conglomerate owns some of the biggest players in cryptocurrency, including Grayscale Investments, a large digital asset manager with about $55 billion in assets under management; Foundry, […].
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.
Independent Banker
OCTOBER 31, 2021
Illustration by Out of the box/Stocksy. Offering digital lending isn’t about the bells and whistles. It provides a real ROI, including increased efficiencies, more loan originations and a way to attract and retain customers. Community bankers tell us why. By Beth Mattson-Teig. First State Bank & Trust in Williston, N.D., started developing its digital lending platform about three years ago—and the bank is really glad it did.
TheGuardian
NOVEMBER 1, 2021
Rolling coverage of the latest economic and financial news Latest: UK factory output growth slows amid supply chain problems Diesel prices hit record Staley steps down at Barclays after FCA investigation Move follows investigation into how Staley described his relationship with Epstein to Barclays Full story: Barclays chief Jes Staley steps down after Epstein investigation Europe’s financial markets have begun November with fresh gains, at the start of a big week for central bankers.
CFPB Monitor
NOVEMBER 5, 2021
The CFPB has issued an advisory opinion that affirms that the use of “name-only matching” by consumer reporting agencies, including tenant and employment screening companies, does not satisfy the FCRA requirement for a CRA ”to follow reasonable procedures to assure maximum possible accuracy of the information concerning the individual about whom the [consumer] report relates.
BankInovation
NOVEMBER 3, 2021
Argentine financial services startup Ualá has reached an agreement to buy Mexican bank ABC Capital SA, as part of its bid to keep growing abroad. Ualá, which was valued at $2.5 billion in its latest financing round, will acquire 100% of Monterrey-based ABC Capital, according to its founder and chief executive officer Pierpaolo Barbieri. As […].
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Now is the time for lenders to prioritize their digital transformation initiatives in preparation for the lending rebound. Rising competition and ever-increasing customer demands for speed and efficiency are forcing financial institutions to embrace digital transformation. This shift can feel overwhelming—where do you begin? This infographic illustrates automation demands and shows you how loan document automation serves as an essential step to increase profits and provide the best lending exper
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