Payments Dive

NOVEMBER 2, 2022

The money transfer company said it’s adding a new crypto feature to its mobile app, expanding on an attempt to appeal to a younger client set.

Mobile 417

Mobile Company 417

Accenture

NOVEMBER 2, 2022

The payments industry has undergone unprecedented transformation in recent times given the global pandemic, geopolitical shifts, recalibration of supply chains, accelerating digitalization and significant economic turbulence. The fascinating conversations around payments at the recent Sibos conference highlighted just how fast things are changing. The conference was attended to the same level as pre-pandemic and some….

Conference 368

Conference Payments Industry Trends 368

Perficient

NOVEMBER 1, 2022

The Scene. You’re a rising middle-management executive, walking into your NYC office, holding a cup of coffee purchased from a street vendor. Right upon booting up your PC, a message from your largest, most demanding client pops up, stating that they want to send wires to multiple vendors – who, of course, all use different banks, overseas in different countries (which all have different holidays and use different currencies).

Payments 275

Payments Security Compliance Training 275

Independent Banker

OCTOBER 31, 2022

Photo by Chris Williams. “FedNow can be another positive differentiator for our nation’s community banks, but we must be ready for this real-time service and its 24/7/365 requirements.”. We’ve been working toward a faster payments future for a decade now, and we’re finally seeing the fruits of our labor: the launch of FedNow. Our efforts to encourage the Fed to offer an instant payments solution have led to this result; it was our voices that expedited FedNow’s time to market, with the Fed updat

Community Bank 204

Community Bank Payments Community Resources 204

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Payments Dive

NOVEMBER 3, 2022

The payments company will cut about 1,140 jobs as it reins in expenses in the face of deteriorating economic conditions after growing too fast.

Payments 397

Payments Company 397

South State Correspondent

NOVEMBER 2, 2022

This week the FOMC increased the Fed Funds rate by 75 bps, as expected to the 3.75% to 4.00% target range. The Effective Fed Funds rate jumped up and should stabilize at 3.83%, as did the 1-month term SOFR, to 3.79%. The futures market now expects close to average odds of a 75bps increase in Fed Funds rate for the next FOMC meeting on December 14 th ( HERE ) and about 60% odds of a 75bps hike by January.

Lending 195

Lending Community Bank Community Meeting 195

Abrigo

NOVEMBER 2, 2022

3 features that can improve speed and efficiency Construction loan automation eliminates manual processes, saving time and reducing human error. Here's what to look for in a software. You might also like this whitepaper: "10 ways construction loan monitoring software saves time." DOWNLOAD . Takeaway 1 Technology can help reduce or eliminate common problems that construction lenders face during the complicated draw process.

Software 195

Software Lending Training Mobile 195

Payments Dive

NOVEMBER 3, 2022

With the latest acquisition, Fiserv is further strengthening its restaurant chops, adding cloud-based reservation and table management to its BentoBox operation.

Operations 396

Operations Management 396

Accenture

NOVEMBER 2, 2022

In the wake of the Sibos conference, it looks to me like banking right now is full of paradoxes. Central bank digital currencies (CBDCs) are a total game changer or a complete dud. Fintechs are an existential threat to incumbent banks or they are their most important partners. Sustainability is on the cusp of major…. The post Four big ideas in the wake of Sibos 2022 appeared first on Accenture Banking Blog.

Conference 222

Conference Fintech Customer Experience Innovation 222

Advertiser: ZoomInfo

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Analysis

Independent Banker

OCTOBER 31, 2022

After 40 years in its Cape Giradeau branch, Wood & Huston Bank moved to a new building and allowed firefighters to train in its former building. Before Wood & Huston Bank’s former headquarters was demolished, the community bank lent the space to a local fire department for critical, hands-on training. By William Atkinson. If you are in the process of pulling up roots from an existing building and moving to a new facility, and if you plan to demolish the older building, there may be a way

Training 162

Training Community Illinois US 162

CFPB Monitor

OCTOBER 31, 2022

Recently, the Federal Housing Finance Agency (FHFA) announced the approval of two new credit scoring models, the FICO 10T and the VantageScore 4.0 for use by Fannie Mae and Freddie Mac (the GSEs or Enterprises). Lenders will have a few years to implement use of the new models before being expected to report both scores on loans sold to the GSEs. Currently, and for the past 20 years, the Enterprises have relied on Classic FICO credit scores.

Conference 148

Conference Industry Innovation Report 148

Payments Dive

OCTOBER 31, 2022

Sen. Elizabeth Warren told the Consumer Financial Protection Bureau that it should amend Regulation E of the Electronic Fund Transfer Act “to increase consumer protection.

Fraud 329

Fraud Regulation 329

Accenture

NOVEMBER 2, 2022

At the recent Sibos conference in Amsterdam, commercial banking leaders from around the world gathered to share their insights and enthusiasm about the latest trends and innovations. I had the great pleasure of leading a roundtable on trade finance, and I was happy to find so many banks already excited about the possibilities for the…. The post News from Sibos: Banks are excited for new trade finance solutions appeared first on Accenture Banking Blog.

Conference 195

Conference Trends Innovation 195

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Automation is changing the game for commercial lenders, offering a clear path to competitive advantage in 2025. Rising costs, outdated workflows, and manual data entry slow growth and impact borrower satisfaction. Automation addresses these challenges, reducing costs, speeding up loan cycles, improving accuracy, and elevating borrower experiences. With market uncertainty easing, now is the time to act—waiting until loan volumes rebound leaves lenders unprepared and struggling to compete.

Lending

Independent Banker

OCTOBER 31, 2022

John V. Anderson bought F&M Bank in the early 1970s. It’s a third-generation family business today. John V. Anderson celebrates 75 years in community banking this year. The chairman emeritus of F&M Bank offers us a glimpse of his life, his career and the lessons he’s learned along the way. By Molly Bennett. Name: F&M Bank. Assets: $650 million.

Community Bank 158

Community Bank Community Oklahoma Oklahoma City 158

CFPB Monitor

OCTOBER 30, 2022

On October 20, 2022, the Federal Trade Commission (“FTC”) announced that it is issuing an Advance Notice of Proposed Rulemaking (“ANPR” or “Notice”) to address “junk fees,” a term used in the Notice to refer to “unfair or deceptive fees that are charged for goods and services that have little or no added value to the consumer.”. In announcing the Notice, the FTC said it is seeking public comment on “the harms stemming from junk fees and associated junk fee practices and on whether a new rule wou

Capital 148

Capital Regulation Mobile Cards 148

Payments Dive

NOVEMBER 4, 2022

The digital payments company plans to slow the pace of hiring in 2023 as executives aim to rein in expenses.

Payments 293

Payments Company 293

Accenture

NOVEMBER 2, 2022

I asked my colleague Danelle Faust—who leads our financial services business within Accenture Song across the Midwest—to be my co-author again. She’s the perfect person to help explore what middle market banks need to do to respond to the most complex consumer behaviors we’ve seen in years. Middle market banks take pride in truly knowing…. The post How banks can make customer relationships even better appeared first on Accenture Banking Blog.

Marketing 195

Marketing 195

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Operations

Independent Banker

OCTOBER 31, 2022

ITMs and VTMs are popular retail banking innovations among community banks. What’s on the horizon for retail banking? We spoke with two community banks that have ramped up their services to meet—and exceed—the changing expectations of customers. By William Atkinson. According to a new report from PwC titled “Retail Banking 2025 and Beyond” (see sidebar), the retail banking industry is undergoing tremendous change—but, of course, community bankers already know that.

Banking Trends 151

Banking Trends Retail Trends Community Bank 151

BankUnderground

NOVEMBER 2, 2022

Rachel Adeney and Amy Fraser. Operational risk is rapidly becoming one of the most important threats to the financial system but is also one of the least well understood. Cyber attacks are regularly cited as one of the top risks faced by firms in the financial sector and one of the most challenging to manage. But they are only one part of operational risk, which includes losses from any kind of business disruption or human error, including power outages or natural disasters.

Operations 127

Operations Policies System Regulation 127

Payments Dive

OCTOBER 31, 2022

The company better known for paper checks is preparing for increased consumer use of digital assets, with plans to add options for accepting crypto next year.

Company 284

Company 284

Cisco

NOVEMBER 1, 2022

In 2017, New York Department of Financial Services (NYDFS) passed cybersecurity regulation 23 NYCRR 500, requiring all financial services companies to implement multi-factor authentication (MFA). Since its creation, the Cybersecurity Framework has continued to offer updates and guidance on best security practices. In 2021, the NYDFS cybersecurity department explicitly called out MFA weaknesses as one of the most common gaps exploited at financial services companies.

Regulation 121

Regulation Security System New York 121

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Analysis

Independent Banker

OCTOBER 31, 2022

Photo by Chris Williams. “The habits of our customers change, and we’re constantly walking beside them, transforming our services to meet their needs.”. Digital transformation. Those words have been bandied about with increasing fervor, fueled by a heightened sense of urgency. Yet, while the digital movement has increased pace, it’s more of an evolution than a revolution.

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Meeting Community Tools Community Bank 141

ATM Marketplace

NOVEMBER 1, 2022

Bitcoin and cryptocurrency can often be difficult to understand. A panel of self-service industry experts discussed the technology in detail and debunked several misconceptions.

cryptocurrency 105

cryptocurrency Bitcoin Industry Technology 105

Payments Dive

OCTOBER 31, 2022

The company is bringing the peer-to-peer payments tool to community and regional bank clients, after big banks made P2P popular through Zelle.

Tools 284

Tools Payments Regional Community 284

The Paypers

NOVEMBER 4, 2022

Lithuania-based fintech Paysera has partnered with Airwallex to enable its clients to send money to 149 countries and 9 countries’ open IBAN accounts.

Fintech 100

Fintech 100

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Capital