Gonzobanker

JANUARY 18, 2024

Having complained in a recent post on LinkedIn that a lot of the predictions I see are nonsense, you may think I’m crazy for posting my own set of predictions for 2024. You’re probably right. That said, here are my banking and fintech predictions for 2024: 1. A big(ger) bank will acquire a BaaS bank. A sneak peek into Cornerstone Advisors’ forthcoming What’s Going On In Banking study shows that the percentage of banks looking to get into the banking as a service (BaaS) space is down from previou

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Fintech Customer Experience Tools Payments 88

South State Correspondent

JANUARY 17, 2024

In our last article ( HERE ), we highlighted the methodology around why banks should calculate and drive value through customer profitability and product profitability. We focused mainly on customer profitability and used risk-adjusted return on capital as a proxy for profitability. In this article, we wanted a different approach to arrive at the same conclusion but in a slightly different context.

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ATM Marketplace

JANUARY 16, 2024

Customers have the choice of using traditional banks, neobanks or both, but their choice is dependent on their needs and how well the bank can respond.

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Abrigo

JANUARY 17, 2024

Human trafficking red flags, strategies, and support Human trafficking is more prevalent than most realize, and banks and credit unions can help prevent it. Know the red flags to watch for. You might like this upcoming webinar, " Unveiling human trafficking: Perspectives, realities, and strategies." LISTEN NOW Takeaway 1 Human trafficking is prevalent in the U.S. and worldwide.

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It's the time of year to give our close process some TLC. Join us in this one hour webinar where we discuss how to adopt leading practices and infuse technology into the month-end close process to improve our experience and increase our productivity during month-end and quarter-end close. Learning Objectives: This course's objective is to understand how the month-end close can be improved with automation and adoption of leading practices.

Groups

Payments Dive

JANUARY 18, 2024

Conditions could be ripe for more payments deals in 2024, as legacy players seek to add unique technologies and struggling startups find themselves in need of an exit plan.

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ABA Community Banking

JANUARY 18, 2024

The Federal Reserve announced the members of the Community Depository Institutions Advisory Council for 2024, including the new council president and vice president. The post 2024 Community Depository Institutions Advisory Council Members announced appeared first on ABA Banking Journal.

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Community Community Bank 52

CFPB Monitor

JANUARY 16, 2024

In remarks to the press and public on January 2, 2024, New York Governor Kathy Hochul announced “a sweeping consumer protection and affordability agenda”, including proposed actions to “strengthen consumer protections against unfair business practices” and “establish nation-leading regulations for the Buy Now Pay Later loan industry”. The Governor vowed to pursue “the first major expansion to New York consumer protection laws since 1980” to curb “predatory” business practices and “exploitative t

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South State Correspondent

JANUARY 16, 2024

There are many historical examples of some sophisticated and some less sophisticated entities imploding from the risk of derivatives. Barings Bank, Orange County (CA), Enron, Long-Term Capital Management, and other entities misused derivatives or didn’t understand the difference between hedging and speculating. Some bankers will soon hear about another example of banks using derivatives that, unfortunately, will lead to losses.

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CFPB Monitor

JANUARY 16, 2024

On January 11, 2024, the Consumer Financial Protection Bureau (CFPB) issued two new advisory opinions: Fair Credit Reporting; Background Screeni ng and Fair Credit Reporting; File Disclosure. The advisory opinions are part of the CFPB’s ongoing efforts to clean up what the CFPB describes in its press release as allegedly “sloppy” credit reporting practices and ensure credit report accuracy and transparency to consumers.

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Report 157

Advertiser: ZoomInfo

Incorporating generative AI (gen AI) into your sales process can speed up your wins through improved efficiency, personalized customer interactions, and better informed decision- making. Gen AI is a game changer for busy salespeople and can reduce time-consuming tasks, such as customer research, note-taking, and writing emails, and provide insightful data analysis and recommendations.

Analysis

Payments Dive

JANUARY 18, 2024

The Federal Reserve is building up bank participation in FedNow, but some big financial institutions remain on the sidelines.

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Perficient

JANUARY 16, 2024

This blog, the first in a series by Perficient’s Risk and Regulatory Center of Excellence (CoE), provides actionable measures your company can adopt to safeguard against senior-level embezzlement risks and maintain the integrity of your institution’s financial transactions. Background On October 19 th , 2023, the Office of the Comptroller of the Currency (OCC) published an article highlighting new enforcement actions and clarifying explicit rules regarding misconduct, particularly as it relates

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Compliance Guidelines Policies Risk Management 221

BankUnderground

JANUARY 18, 2024

Ed Hill Once the stuff of science fiction, quantum technologies are advancing fast. Individual quantum computers are finding a range of applications, primarily driven by the immense speed-ups they offer over normal computers. And soon the nascent quantum internet should connect those isolated computers together. This blog post starts to think about what this new interconnected quantum world means for the financial system.

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System Marketing Examples Strategy 145

ATM Marketplace

JANUARY 19, 2024

A panel of experts shared core trends and rules for success for self-service automation at the Self-Service Innovation Summit in Miami, Florida.

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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

Payments Dive

JANUARY 16, 2024

The card issuer is selling the business, which offers online fraud monitoring services to merchants, to the joint venture investment firm Accel-KKR.

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Fraud Cards Online 259

TheGuardian

JANUARY 18, 2024

Lenders forecast biggest quarterly increase in missed repayments on credit cards and loans since 2009 Business live – latest updates Britain’s biggest high street lenders expect the sharpest rise in defaults on unsecured lending since 2009, according to a Bank of England survey , as households come under growing pressure amid the cost of living crisis.

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BankUnderground

JANUARY 17, 2024

Lennart Brandt, Natalie Burr and Krisztian Gado The Bank of England has a 2% annual inflation rate target in the ONS’ consumer prices in dex. But looking at its 700 item categories, we find that very few prices ever change by 2%. In fact, on a month-on-month basis, only about one fifth of prices change at all. Instead, we observe what economists call ‘sticky prices’: the price of an item will remain fixed for an extended amount of time and then adjust in one large step.

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Data Policies US Regional 142

American Banker

JANUARY 17, 2024

The digital-only bank is among the first to offer such a feature, which can make a bank and its checking account stickier.

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Taxes Technology Fintech 91

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Remote Deposit Capture (RDC) clients are more likely to use additional treasury services and maintain larger deposits. However, poor customer experiences—particularly if they delay deposits—can compel RDC clients to take their business elsewhere. This eBook makes the case for outsourcing RDC operations to a proven managed services partner. This approach helps Treasury Departments with limited resources provide excellent client experiences that result in higher retention and productivity rates.

Operations

Payments Dive

JANUARY 19, 2024

The card network has grown its roster of partners in an effort to streamline transactions between businesses.

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Payments Cards 243

CFPB Monitor

JANUARY 17, 2024

On February 27, 2024, the U.S. Supreme Court will hear oral argument in Cantero v. Bank of America, N.A. , a case involving the scope of preemption under the National Bank Act (NBA). The question before the Court is whether the NBA preempts a New York statute requiring banks to pay interest on mortgage escrow accounts. .

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National New York America 88

William Mills

JANUARY 17, 2024

Remaining at the forefront of policy changes and requirements, specifically for emails, is a top priority for our marketing team. As a HubSpot partner for 10 years, our agency must stay up to date on these changes for ourselves, our clients and our partners. HubSpot released this article discussing Google and Yahoo’s latest requirements for email marketing beginning in February 2024.

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Google Policies Marketing 87

American Banker

JANUARY 13, 2024

The technology company's move in Georgia could widen its processing relationships with merchants, but the company insists it won't become a traditional financial institution.

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Georgia Technology Company Payments 90

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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

Payments Dive

JANUARY 19, 2024

The state legislation relating to credit card surcharges is poised to keep percolating in a pack of states this year, following new laws in some last year.

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Cards 243

BankInovation

JANUARY 19, 2024

Fifth Third Bank expects to increase noninterest expenses slightly in 2024 as technology investment ticks up at the bank. Noninterest expenses in the fourth quarter fell 7% year over year to $1.

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Technology Retail 79

CFPB Monitor

JANUARY 19, 2024

The Federal Housing Finance Agency (FHFA) recently published another FHFA Insights blog post addressing the underutilization of appraisal time adjustments by appraisers that is a companion to an FHFA Insights blog post that we reported on previously. In the recent blog post, the FHFA presents the question “Is the racial disparity in underappraisal, or some portion of it, due to racial disparities in the practice of time adjustment?”.

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Report 78

American Banker

JANUARY 16, 2024

Payments fraud is the most expensive kind, at $450B; anti-financial-crime execs are the most worried about real-time payments, a survey from Nasdaq and Oliver Wyman found.

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Fraud Report Survey Payments 88

Advertiser: ZoomInfo

In today’s ultra-competitive markets, it’s no longer enough to wait for buyers to show obvious signs of interest. Instead, sales teams must be proactive, identifying and acting on nuanced buyer behaviors — often before prospects are fully ready to make a purchase. In this eBook from ZoomInfo & Sell Better, learn 10 actionable ways to use these buyer signals to transform your sales strategy and close deals faster.

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