Accenture
OCTOBER 10, 2022
Banks face a trust paradox. While customers trust banks with their money, only 19% of them say they are interested in receiving advice from a bank. And the more digital banks become, the less connected they are with their customers. As banks rapidly boosted their digital touchpoints during the pandemic, now is the time to…. The post Why banks should look Beyond Advice for growth appeared first on Accenture Banking Blog.
Payments Dive
OCTOBER 10, 2022
The Clearing House, Swift and rivals are jostling to speed up cross-border payments, with collaboration and competition likely to emerge at an international conference this week.
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Abrigo
OCTOBER 14, 2022
Fortify your credit risk management framework How to prepare your organization for scrutiny of its credit risk management practices during your next exam or review. . You might also like this whitepaper, "Stress Testing: Managing Capital Levels and Credit Risk." DOWNLOAD. Takeaway 1 Loan modifications training, automating processes, and updating policies and procedures can help prepare organizations for change.
South State Correspondent
OCTOBER 12, 2022
While “customer delight” is a worthy goal, few banks should focus on the concept. We covered various methodologies HERE. Instead of trying to “Wow” your customer, in this article, we present the “time-on-task metric” (and its companion, the Customer Effort Score (CES) framework) and detail not only why it matters but why it can change the course of your bank.
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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.
Bobsguide
OCTOBER 9, 2022
Leading fintech company AutoRek is delighted to have been recognised at the Scottish Financial Technology Awards 2022 , held on Thursday, 6 October, where it won in the ‘Payments Innovation’ category. The judges said AutoRek demonstrated clear market fit and praised both its level of innovation and laser-focused commitment to solving a specific but widespread problem in the industry.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Jack Henry
OCTOBER 12, 2022
On September 21, 2022, the Federal Open Market Committee (FOMC) increased the federal funds rate by 0.75% to help achieve its objective of maximum employment and controlled long-term inflation at 2%.
South State Correspondent
OCTOBER 10, 2022
Funds transfer pricing (FTP) has been an essential tool for financial institutions for several decades. FTP was introduced to banks in the early 1980s to help manage interest rate risk on a transactional basis. FTP gained further focus after the 2007 financial crisis when financial firms failed partly because of the lack of funds transfer pricing application and rigor.
CFPB Monitor
OCTOBER 11, 2022
The White House’s Office of Science and Technology Policy has identified a framework of five principles , also known as the Blueprint for an AI Bill of Rights. The principles are intended to guide the design, use, and deployment of automated systems and artificial intelligence for greater public protection. The Blueprint defines automated systems broadly as any system, software, or process that uses computation to determine outcomes, make or aid decisions, inform implementation, collect data,
Payments Dive
OCTOBER 12, 2022
U.S. Sen. Dick Durbin wasn’t able to attach the Credit Card Competition Act proposal to a defense funding bill this week, but he will try again next month.
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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.
Bobsguide
OCTOBER 9, 2022
Finastra solution expands functionality of Kotak’s new unified corporate portal to support multiple corporate banking segments. Singapore and Mumbai – October 7, 2022 – Finastra has today announced that it has partnered with Kotak Mahindra Bank to support its new integrated corporate banking portal, Kotak FYN, using Finastra’s Unified Corporate Portal solution.
Gonzobanker
OCTOBER 12, 2022
It might be time to brush up on our Portuguese, take a trip to São Paulo, and ask Nubank , “O que é que há? “ This CapitalOne-inspired LATAM supernova merits our attention, GonzoBankers. Heck, in my recent travels to Vancouver and Chicago, words of admiration and wonder accompanied each mention of its growth story. Less than 10 years old, the Brazil-based digital bank counts 70 million clients across its three operating countries ( source ).
CFPB Monitor
OCTOBER 13, 2022
On September 29, 2022, the Justice Department announced a proposed consent order with Evolve Bank and Trust to resolve allegations of lending discrimination on the basis of race, sex, and national origin in the pricing of its residential mortgage loans from at least 2014 through 2019. Headquartered in Memphis, Tennessee, Evolve Bank maintains mortgage lending offices and provides mortgage lending services in 15 states.
Payments Dive
OCTOBER 11, 2022
Payment processing giant Fiserv pared more employees in recent weeks as the company seeks to boost profit margin growth amid economic turmoil.
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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
Bobsguide
OCTOBER 11, 2022
The Prometeia Banking & Insurance Day , organized in Istanbul on 5 October in cooperation with the Risk Managers Association and CFA Society Istanbul, provided an excellent opportunity for debate. Nearly 400 participants followed the sequence of speeches on the current complex economic and financial scenario in Türkiye and beyond. Nine speakers took the main stage, addressing the challenges banks and insurers face today from different perspectives: skyrocketing energy costs, rampant inflatio
ATM Marketplace
OCTOBER 11, 2022
The world is finding its way to a new normal and the role ATMs have in our society is as well. While cash is still very popular, the events of the last few years have supercharged a shift in the way banks and ATMs provide services customers. Download this report to see the latest trends.
CFPB Monitor
OCTOBER 12, 2022
A bill now being considered by the Council of the District of Columbia titled the “ Stop Discrimination by Algorithms Act of 2021 ” (“Bill”), would impose limitations and requirements on businesses that use algorithms in making credit and other eligibility decisions, including decisions regarding the individuals to whom a business directs advertising or marketing solicitations.
Payments Dive
OCTOBER 12, 2022
Restaurant payments company Toast may be on a path to profitability by the third quarter of next year, Mizuho Americas analysts predicted this week.
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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.
BankUnderground
OCTOBER 13, 2022
John Lewis. Cryptoassets and the crypto ecosystem as a whole has to face many of the same challenges as conventional assets and the regular financial system do. The same classic problems which are staple of economics textbooks (and history books), such as maturity mismatch, liquidity shortages, credibility, and collateral feedback loops. But whereas the conventional system has learned from the past and evolved to deal with them, much of the crypto ecosystem seems to have overlooked them.
ATM Marketplace
OCTOBER 14, 2022
As banks have had to make adjustments in light of COVID-19 and customer expectations, they have had to rely more, not less, on self-service channels, including ATMs. A webinar sponsored by KAL ATM Software analyzed findings of the 2022 ATM and self-service software trends report on how the ATM industry is evolving.
TheGuardian
OCTOBER 13, 2022
There is ‘no justification for lifting the cap’ on bonuses, said general secretary Frances O’Grady Bankers’ bonuses have doubled since the 2008 financial crash, according to research by the TUC, which accuses the government of enriching City financiers while “holding down” the pay of key workers. The unions’ umbrella body said bonuses in finance and the insurance sector have reached a record £20,000 a year on average – which it says is almost one-and-a-half times the average pay collected by tea
Payments Dive
OCTOBER 13, 2022
The Federal Reserve’s vice chair for supervision stressed caution for banks’ ties to crypto and spotlighted how stablecoins differ from other digital assets.
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.
BankInovation
OCTOBER 10, 2022
Think of this less like one of those WikiHow articles you pilfer through when you don’t know how to dance at a wedding or fix a flat tire (although these skills are very, very important) and more like an Atul Gawande checklist to building a modern Treasury Services department at a bank. Do you use […].
ATM Marketplace
OCTOBER 11, 2022
Despite rumors to the contrary, consumers still want cash access and as a result the need for recycling and cash management is still great. ATMs can meet all of these needs.
TheGuardian
OCTOBER 13, 2022
Survey of lenders paints gloomy picture of new deals drying up and end to ‘golden era’ of cheap mortgages The number of mortgage defaults are expected to rise in the coming months, according to Bank of England data released on Thursday, while the number of new loans will continue to fall amid warnings that the “golden era” of cheap deals is ending. The UK central bank’s latest quarterly credit conditions survey paints a gloomy picture, with the number of mortgage deals already falling before the
Payments Dive
OCTOBER 11, 2022
Four billion-dollar payments acquisitions this year reflect industry dynamics that will drive more buyouts in coming months, analysts say.
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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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