Perficient

APRIL 20, 2023

The Landscape According to Forbes Advisor: 2022 Digital Banking Survey , as of 2022, 78% of adults in the U.S. prefer to bank via a mobile app or website. That’s a whole lot of consumers, all of whom come with unique expectations, needs, and data. And those consumers desire digital experiences that are personalized and meaningful. In fact, Gartner shares that brands risk losing 38 percent of customers from poor personalization efforts.

Marketing 294

Marketing Marketing Strategies social media Strategy 294

The Banker

APRIL 17, 2023

A simple framework could help senior financial services leaders embed organisational resilience and proactively navigate the evolving risk landscape, according to Torry Berntsen.

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Management 70

South State Correspondent

APRIL 19, 2023

Focusing on uninsured deposit performance is a hot topic among investors, analysts, and regulators. The concern is grounded in data as higher balance accounts are more interest rate and risk-sensitive than lower balance accounts. While every bank is now tracking the general metric, only a few banks monitor deposit performance in the category. That is a mistake, as this segment is likely the segment where you can quickly improve deposit performance.

How To 195

How To Examples Resources Marketing 195

Payments Dive

APRIL 19, 2023

A court initially imposed a $49.5 million judgment against a group of Nexway companies over processing payments tied to tech support scams, but they’ll ultimately pay the smaller fine for defrauding consumers.

Fraud 367

Fraud Cards Groups Payments 367

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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.

Groups

South State Correspondent

APRIL 18, 2023

In recent articles ( here and here and here ), we discussed why banks that take risks to earn higher revenue demonstrate lower performance as measured by return on assets (ROA). Empirical evidence, historical bank failures, and common sense teach us that many risks do not translate to higher yields. We analyzed why pay-for-risk does not lead to higher performance, whether that risk is credit or interest rate risk.

Strategy 195

Strategy Regional Industry Community Bank 195

CFPB Monitor

APRIL 17, 2023

On April 6, 2023, the U.S. Department of the Treasury released a report examining vulnerabilities in decentralized finance (“DeFi”), including potential gaps in the United States’ anti-money laundering (“AML”) and countering the financing of terrorism (“CFT”) regulatory, supervisory, and enforcement regimes for DeFi. The report concludes by making a series of recommendations, including the closing of “gaps” in the application of the Bank Secrecy Act (“BSA”) to the extent that certain DeFi ser

Report 148

Report United States 148

Payments Dive

APRIL 20, 2023

The dollar value of same-day ACH payments nearly doubled in the first quarter as the volume increased 20.7%, Nacha said this week in a quarterly update.

Payments 545

Payments 545

BankUnderground

APRIL 20, 2023

Luke Heath Milsom, Vladimír Pažitka, Isabelle Roland and Dariusz Wójcik Exports of financial services decline with geographical distance at a rate comparable to that for international trade in goods (eg, Portes and Rey (2005) ). This is surprising since there are no transportation costs involved. The consensus is that distance is a proxy for information frictions.

Security 105

Security Maine Marketing Policies 105

ATM Marketplace

APRIL 18, 2023

The Bank Customer Experience Summit will analyze the cutting edge of customer and banking trends and will be held in tandem with the Interactive Customer Experience Summit in Charlotte, North Carolina from Sept. 11 to 13.

Customer Experience 86

Customer Experience North Carolina Trends Charlotte 86

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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

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CFPB Monitor

APRIL 21, 2023

On April 17, the Consumer Bankers Association (CBA) issued a news release responding to the CFPB’s proposal to lower the credit card late fee safe harbor amount to $8. The CFPB claims that, even though Congress banned excessive credit card late fees, credit card companies have exploited a regulatory loophole “to escape scrutiny for charging an otherwise illegal junk fee.” .

Cards 78

Cards Company 78

Payments Dive

APRIL 19, 2023

The payments processor hasn’t disclosed how many customers were potentially impacted by a ransomware attack that began affecting systems last week. NCR says more than 100,000 restaurant locations currently use its platform.

System 367

System Payments 367

BankBazaar

APRIL 19, 2023

The Reserve Bank of India (RBI) paused the repo rate at 6.50% this month. This is a good time to calculate the difference between the repo rate and your Home Loan rate. That number is essentially the markup on your Home Loan. Interest rates have been rising in lockstep with the repo rate. But the markup on those loans have fallen to a three-year low.

Examples 78

Examples Retail Payments Management 78

ATM Marketplace

APRIL 21, 2023

Apple is offering a savings account with a 4.15% interest rate. How can banks respond?

Apple 123

Apple 123

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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.

Lending

CFPB Monitor

APRIL 21, 2023

The CFPB has filed a Statement of Interest in a case pending before a Florida federal district court in which the plaintiffs allege that the defendant engaged in discriminatory targeting in violation of the Equal Credit Opportunity Act (ECOA). In Roberson v. Health Career Institute LLC , the plaintiffs are students at a for-profit nursing school who allege that the school engaged in various unfair and deceptive practices and other unlawful conduct in connection with enrolling students in and ope

Florida 78

Florida Operations Lending 78

Payments Dive

APRIL 20, 2023

Despite a somewhat troubled past with Walmart, the card issuer appears to be raising its hand if the retailer is looking for a new credit card partner.

Cards 370

Cards Retail 370

BankBazaar

APRIL 19, 2023

As Home Loan rates continue to spike, borrowers need to understand all aspects of the Home Loan process to lower their EMI burden. In this article, we will discuss what a Home Loan spread is, and how it can affect your debt burden. Having a house of one’s own is something many of us aspire to. The BankBazaar Aspiration Index survey, the largest study of India’s aspirations through the lens of personal finance, also affirms the sentiment that homeownership is, indeed, a top priority among Indians

Strategy 78

Strategy Study Policies Survey 78

TheGuardian

APRIL 18, 2023

Kit Harington and Rose Leslie attend ‘couples therapy’ in Richard Curtis film for Make My Money Matter The Game of Thrones stars and real-life couple Kit Harington and Rose Leslie are co-starring in a Richard Curtis short film highlighting the “toxic relationship” between UK high street banks and the fossil fuel industry. The Couples Therapy film is part of Curtis’s Make My Money Matter campaign to raise awareness of how consumers’ cash may be financing industries that are destroying the planet.

Industry 78

Industry 78

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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

Cards

CFPB Monitor

APRIL 20, 2023

Our discussion focuses on generative artificial intelligence, a new and emerging category of AI. We first discuss what generative AI is, its use of large language models, and the role of supervised training in developing generative AI models. We then discuss the potential benefits and limitations of generative AI in the following use cases in the consumer finance industry: marketing, fraud management, underwriting, collections, customer service, and back office functions. .

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Industry Training Fraud Management 78

Payments Dive

APRIL 17, 2023

Financial institutions, payments players and other businesses are being drawn in by FedNow, according to survey results presented at the Nacha Smarter Faster Payments conference.

Industry 259

Industry Conference Survey Payments 259

BankBazaar

APRIL 19, 2023

The Reserve Bank of India’s Monetary Policy Committee has decided to maintain the status quo on the key policy rates. The repo rate, which was at 6.50 has been left unchanged in today’s bi-monthly meeting, which is a welcome move. After increasing the repo rate by 250 basis points since May 2022, to curb inflation, the RBI has pressed pause on the repo rate hike to check the central bank’s progress thus far, sending positive sentiments across sectors.

Policies 78

Policies Meeting Trends Marketing 78

TheGuardian

APRIL 21, 2023

Finma accused of acting unlawfully and undermining confidence in Switzerland as a financial centre A group of Credit Suisse investors who lost bonds worth more than CHF 4.5bn (£4bn) are suing Switzerland’s financial regulator over a decision to wipe out risky bank debt after an emergency merger with UBS last month. The investors filed their claim at a court in St Gallen, in the north-east of Switzerland, weeks after Swiss authorities orchestrated the takeover of Credit Suisse by its larger rival

Regulation 67

Regulation Groups 67

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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.

Analysis

CFPB Monitor

APRIL 19, 2023

Legislation to opt out of a 43-year-old federal law allowing FDIC-insured state banks to “export” interest on interstate loans to the same extent as their national bank counterparts is quietly, but swiftly, working its way through the Colorado legislature. The bill has passed the House and is expected to be the subject of a hearing next week before a Senate Committee.

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Colorado FDIC National 78

Payments Dive

APRIL 21, 2023

In light of rising charge-offs, the card companies on Thursday each reported adding to credit loss provisions. That put a dent in their first-quarter profits.

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Cards Report Company 273

BankBazaar

APRIL 19, 2023

Before applying for any credit product, remember to check your eligibility and keep the required documents ready! Credit Cards are a hugely popular and convenient way of making payments. But how easy or difficult is it to get one? That depends on several factors. If you have a good Credit Score and a stable income source, you may get approved for a Credit Card with a high credit limit and attractive reward programs.

Cards 78

Cards How To Online Lending 78

TheGuardian

APRIL 20, 2023

FCA says it will consider ‘onerous interventions’ if it concludes ‘loyalty penalty harms’ not being addressed The “harm” caused to millions of loyal customers of high street banks who are earning low interest on their savings is likely to have worsened as interest rates have risen, the UK’s chief financial regulator has warned. The Financial Conduct Authority said it had challenged some banks that had been miserly with their savings rate increases and warned “onerous interventions” would be cons

Regulation 67

Regulation 67

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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

Community Bank