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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Study Maine Analytics Capital 195

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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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.

How To

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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Payments Technology 221

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

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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.

New York

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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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 142

BankBazaar

JANUARY 17, 2024

Wanna know how to turn your pocket change into a fortune ? Investing is the way to go and this article is all you need to get started. Gone are the days of investing and saving money being the same thing. These days, investing is a different ball game altogether. Understanding its intricacies and diversity can be daunting for beginners. In this article, we will cover everything a beginner investor must know about investing in India, including the different types of investments, how to create an

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Management How To Marketing Cards 78

CFPB Monitor

JANUARY 19, 2024

In furtherance of the Biden Administration’s “junk fee” agenda, on January 17, 2024, the Consumer Financial Protection Bureau issued its proposed rule to amend Regulations E and Z to regulate overdraft services provided by “very large financial institutions” (an insured depository institution or an insured credit union that has total assets of more than $10 Billion and any affiliate thereof, as determined under 12 U.S.C.

Regulation 88

Regulation 88

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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

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Payments Dive

JANUARY 16, 2024

Analysts have soured on PayPal’s prospects, at least for now, noting competition is encroaching on the payment pioneer’s turf as a new CEO tries to make gains.

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Payments 243

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 133

BankBazaar

JANUARY 15, 2024

This blog navigates the complexities of smart savings, emphasising the power of compound interest, tax-efficient tactics, and the integration of technology to empower people to succeed in safeguarding their financial future. In today’s fast-paced and unpredictable world, financial stability is a goal that many aspire to achieve. One key element in building a strong financial foundation is the art of saving.

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Strategy Taxes Cards Security 78

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

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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.

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

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 90

BankBazaar

JANUARY 14, 2024

While building a Credit Score from scratch can be challenging, it’s not impossible! Read on for actionable steps to help you establish a robust credit history. In today’s world, having a good Credit Score is crucial for financial stability. Whether you’re planning to apply for a loan or get a Credit Card, a strong credit history is your ticket to financial opportunities.

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Cards Security Management Report 78

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

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.

US

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

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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Miami Florida Trends Innovation 92

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.

Georgia 90

Georgia Technology Company Payments 90

CFPB Monitor

JANUARY 19, 2024

In furtherance of the Biden Administration’s “junk fee” agenda, on January 17, 2024, the Consumer Financial Protection Bureau issued its proposed rule to amend Regulations E and Z to regulate overdraft services provided by “very large financial institutions” (an insured depository institution or an insured credit union that has total assets of more than $10 Billion and any affiliate thereof, as determined under 12 U.S.C.

Regulation 78

Regulation 78

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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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