Gonzobanker

MARCH 22, 2023

“Bank confidence is a fragile reed, and a troubled bank is damaged by any rumors, true or not.” –Irvine Sprague, Former FDIC Director So Gonzo Bankers … how many of us have been hesitant lately to check our iPhone each morning to see what trouble may have hit the fan in the financial world during a few restless hours of slumber? Whatever their level of faith or religious denomination, banking leaders have been praying like crazy for one critical outcome in these volatile days of banking crisis:

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social media Capital Risk Management Strategy 78

TheGuardian

MARCH 18, 2023

The travails of Credit Suisse and others have stirred up bad memories for a public still scarred by the financial crisis No one in the Treasury had expected March to be easy. Last Monday’s economics-heavy review of defence and foreign policy, and last Wednesday’s budget, meant that a tough week for its mandarins was already priced in. But none of them had expected to have to sell a bank for £1.

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Perficient

MARCH 22, 2023

Recent headlines have highlighted the failure of SVB Financial Group, the parent company of Silicon Valley Bank (“SVB”). To help both current and future clients, using publicly available financial records of SVB, including the last two annual reports and every 10-Ks and 10-Q filed this decade, a team of Perficient team members from around the world have gone beyond the headlines to analyze what the root cause of the run on the bank was, and what our clients and us can both learn from the mistake

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South State Correspondent

MARCH 19, 2023

Most bankers are familiar with the concept of risk-return tradeoff, which states that potential return rises with an increase in risk. Low-risk assets pay lower potential returns, whereas high-risk assets pay higher potential returns. Further, some bankers are taught early in their careers that they are in the business of taking risks, and banks would not earn profits without it.

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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.

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Accenture

MARCH 22, 2023

In the current edition of the Banking Cloud Altimeter, we dig into the results of our 2022 Banking Cloud Rotation Index survey, which follows the progress of nearly 100 banks on their journey to cloud. Though the progress they have made over the past year is impressive, there still seems to be a shortage of… The post Banks need a unified vision for true cloud success appeared first on Accenture Banking Blog.

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Survey 195

Abrigo

MARCH 24, 2023

Best practices for your BSA/AML risk assessment Learn top tips for creating a risk assessment to capture your credit union's risk. You might also like this resource: "BSA/AML risk assessment checklist." READ Takeaway 1 Documentation is one of the most critical aspects of performing a risk assessment. Takeaway 2 Inherent risk and residual risk should be evaluated before mitigating factors are considered.

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South State Correspondent

MARCH 21, 2023

You have undoubtedly heard or seen the various commercials and likely have even received phone calls about Employee Retention Credit, or ERC. The need for a known, reliable brand creates an excellent opportunity for community banks to help small business customers while building deposit balances. We introduced our ERC Assist program several months ago so that we can attest to the efficacy of this product.

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Taxes Community Bank Community Operations 195

Accenture

MARCH 23, 2023

As consumers experience economic turbulence due to inflation and rising interest rates, they want to be able to pay anywhere, anytime, anyhow. For banks to stay ahead of an increasingly complex payments game and meet these evolving consumer expectations, they will need to innovate and seize emerging opportunities. One opportunity we’re watching closely is BNPL… The post BNPL: Strategies for banks to get it right appeared first on Accenture Banking Blog.

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Payments Dive

MARCH 20, 2023

The legacy money transfer company has lost the advantage of scale over younger fintechs like Remitly and Wise, but it’s discounting digital services to claw back customers.

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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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Abrigo

MARCH 22, 2023

Understanding trade-based money laundering Addressing the FinCEN priorities in your AML/CFT policy means knowing what steps to take to prevent trade-based money laundering and terrorism funding. Would you like others articles like this in your inbox? This article was written by Mista Roberts Howard, Senior Financial Crimes Investigator at Abrigo Takeaway 1 Criminal organizations use trade-based money laundering in part because it is difficult to detect.

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TheGuardian

MARCH 24, 2023

Stock markets slide as banking shares and oil prices tumble; Bank of England governor Andrew Bailey appeals to businesses to avoid price rises because higher inflation ‘hurts least well-off in society’ Stock markets are in the red again, with the FTSE 100 index down 67 points, or 0.9%, at 7,431, dragged down by banks NatWest Group , Barclays , Standard Chartered and the insurer Prudential , as concerns over the banking sector persist.

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ATM Marketplace

MARCH 21, 2023

Have we entered an age where artificial intelligence (AI) tools like ChatGPT and Bard have become uncontrollable monsters, destined to suck away all human individuality and creative thought, relegating us mere mortals to the Twilight, until we are eventually banished to the Dark Shadows forever? Well, probably not so much.

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Payments Dive

MARCH 24, 2023

The agency wants to give consumers more information from credit card issuers so that it’s easier to compare the cards’ offers, especially their interest rates.

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Cards 221

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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.

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Abrigo

MARCH 21, 2023

Strategies for earning more in rising rates Financial institutions need to be intentional with funding strategies and loan pricing models. You might also like this video on managing interest rate risk. WATCH Takeaway 1 Earning more income and mitigating interest rate risk isn’t as simple as charging higher rates on loans and earning higher rates on the investment portfolio.

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TheGuardian

MARCH 21, 2023

Inflation is receding, albeit slowly, so there’s no reason to risk more financial tumult. Will the central bank see it that way? The global financial system is facing a crisis of confidence. Which makes this week’s meeting of America’s central bankers critically important. None of the 12 members of the Federal Reserve Board’s Open Market Committee were elected to their posts.

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ATM Marketplace

MARCH 24, 2023

Within the ATM industry, certain issues are omnipresent, such as security concerns, software upgrades and dealing with cashless trends. However, the more time I spend in this space, the more I notice certain trends are filtering into the industry and slowly leading to big changes.

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Payments Dive

MARCH 23, 2023

The percentage of online transactions involving groceries where shoppers opted to delay payment grew 40% during the first two months of 2023, according to Adobe data.

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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

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BankInovation

MARCH 21, 2023

Many financial institutions struggle to decide where they should focus their strategic modernization efforts. Should they prioritize back-office and core capabilities or more tactical front-end and point solutions? Trying to choose the best option often leads to significant resource use and major inefficiencies.

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CFPB Monitor

MARCH 23, 2023

On February 28, 2023, the U.S. Supreme Court heard nearly four hours of oral argument in two separate cases challenging the Biden Administration’s authority to proceed with its plan to forgive approximately $400 billion in federal student loans. After reviewing the background of the two cases, we look at the three key issues: the plaintiffs’ theories for why they have standing to challenge the plan, the Administration’s reliance on the HEROES Act as authority for the plan, and the applicability

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Analysis 78

SWBC's LenderHub

MARCH 23, 2023

As we discussed in part one of our Q1-2 2023 Economic Outlook , the financial sector appears well-positioned for an economic downturn. That being said, we are seeing the deterioration in delinquencies we have been forecasting.

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Lending 78

Payments Dive

MARCH 22, 2023

Pittsburgh-based GetGo joins a growing list of convenience store operators adding bitcoin ATMs, as retailers seek new ways to bring customers inside their stores.

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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.

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TheGuardian

MARCH 20, 2023

European supervisors have tried to settle markets and stop a rout in the market for convertible bank bonds on Monday, as investors digest Credit Suisse rescue deal UBS agrees to takeover of stricken Credit Suisse for $3.25bn Central banks around world move to boost flow of cash amid confidence concerns Shares in Credit Suisse have tumbled by over 60% at the start of trading.

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Marketing 88

CFPB Monitor

MARCH 23, 2023

On March 20, 2023, the CFPB published a final rule in the Federal Register that makes non-substantive corrections and updates to CFPB and other federal agency contact information found in various regulations, including the contact information that must be provided in ECOA adverse action notices and the FCRA Summary of Consumer Rights. .

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Regulation 78

ATM Marketplace

MARCH 21, 2023

With March Madness underway, many businesses will see a large influx of cash. Here's how to manage it.

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Payments Dive

MARCH 22, 2023

Panera plans to expand the palm payments technology to as many as 20 cafes in the second stage of the test, depending on the outcome of the initial test.

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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

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