Payments Dive
MAY 29, 2024
Roughly 72% of consumers say they swipe, dip or tap a debit card at the point of sale, a larger portion than credit cards, checks and digital wallets, according to a consumer survey by research firm J.D. Power.
Perficient
MAY 30, 2024
Our banking risk and regulatory experts are excited to attend the upcoming XLoD Global event in New York on June 11th. What is XLoD Global? The world’s leading financial institutions and regulators come together at XLoD to discuss the future of non-financial risk and control. Representatives from all three lines of defense—operational management, risk management/compliance, and internal audit—attend to present, discuss, and learn about industry shifts that are impacting risk and regul
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Abrigo
MAY 30, 2024
Elder fraud prevention and education Learn strategies for recognizing and reporting elder fraud and exploitation. Would you like other articles on BSA/AML training in your inbox? Takeaway 1 Elder abuse, exploitation and fraud continue to rise as the baby boomer generation ages. Takeaway 2 Learn to recognize common types of elder abuse and the red flags that may accompany them.
South State Correspondent
MAY 30, 2024
In discussing ERC (Employee Retention Credit) with banks over the last year, we discovered a common theme. Most banks have either been told they are not eligible or come to this conclusion on their own because they did not experience a decrease in revenues. Many banks performed better than expected during the pandemic due to offering paycheck protection program (PPP) loans.
Speaker: Brian Muse-McKenney, Chief Revenue Officer & Matt Simester, Cards and Payments Expert
In today’s world of social media, dating apps, and remote work, businesses risk becoming irrelevant or getting "ghosted" if they fail to meet the evolving needs of Gen Z consumers. In this new webinar, Brian Muse-McKenney of Episode Six and Matt Simester of Payments Consultancy Limited will reveal key considerations banks should factor into their efforts to develop target products for the next generation of bank customers.
Jeff For Banks
MAY 30, 2024
In December 2021, when the Fed Funds Rate stood at 0-25 basis points and prior to the Fed's tightening beginning in the first quarter of 2022, there were $18.2 trillion in domestic deposits, according to the FDIC's Statistics at a Glance. In December 2023, a full three quarters after the Fed paused its tightening of the Fed Funds Rate (QT continued), domestic deposits stood at $17.3 trillion.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Accenture
MAY 31, 2024
We’re all still trying to get our heads around the big question confronting all commercial bankers right now: how and where will generative AI have the greatest impact? In our recent analysis of the top trends shaping the industry in 2024, we argue that each one is influenced to some degree by generative AI. In… The post Four ways generative AI will transform commercial banking appeared first on Accenture Banking Blog.
South State Correspondent
MAY 28, 2024
Most borrowers are implicitly expressing a view that interest rates will be lower in the future than the current market expectation. This view is reflected by a sharp decrease in the average contractual loan commitment term at community banks and an increase in floating vs. fixed rate structures. Borrowers are choosing short-term financing in anticipation of the Federal Reserve embarking on an interest rate-cutting cycle.
ATM Marketplace
MAY 28, 2024
At a time when a seamless customer journey is more important than ever, vertical integration allows organizations to prioritize customization, increase connectivity and develop software and hardware systems that keep customers happy and engaged.
Payments Dive
MAY 31, 2024
Research shows young people see digital wallets as a more secure option than debit and credit cards. Cybersecurity professionals mostly agree, despite caveats.
Speaker: Gary Dmitriev
Our upcoming webinar aims to demystify the process of selecting and implementing automation tools for financial institutes. This session will provide your roadmap for vetting potential solutions, focusing on due diligence, vendor assessments, and aligning technology with strategic goals. We’ll also address the critical issue of innovation fatigue, offering tips on maintaining enthusiasm and momentum for new initiatives.
BankInovation
MAY 29, 2024
BMO continued to deliver on its digital-first agenda during its fiscal second quarter 2024 with AI, data and overall modernization at the forefront of its efforts.
TheGuardian
MAY 26, 2024
First-quarter earnings show £580m pool, reflecting increase in share price as bonus cap scrapped in UK London bankers at Goldman Sachs have seen their pay pot jump by more than 20% so far this year, as the bank’s surging share price added to the prospect of bumper payouts after bonus caps were lifted in the UK. Filings covering Goldman Sachs International’s (GSI) first-quarter earnings show that it built up a $735m (£580m) pay pool in the three months to March, averaging out at about $218,000 (£
ATM Marketplace
MAY 31, 2024
When asked by a reporter why he robbed banks, Willie Sutton famously replied: "Because that's where the money is." Can biometrics prevent would-be-thieves from stealing from ATMs?
Payments Dive
MAY 29, 2024
The Stockholm-based buy now, pay later company said more than a third of its first-quarter savings on sales and marketing expense was attributable to artificial intelligence.
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Alex Jimenez
MAY 28, 2024
For the past few years I’ve noticed that more and more banking and banking technology articles about the future of banking seem to be informed by dubious claims. The writers derive these claims from customer opinion polls and immediately jump to conclusions without understanding survey methodology. Some researchers and consultants conduct customer opinion surveys with biased questions and limited responses.
American Banker
MAY 30, 2024
Shan Hanes, who led Heartland Tri-State Bank in Kansas until it failed last year, pleaded guilty to one count of embezzlement by a bank officer. He now faces up to 30 years in prison. He is scheduled to be sentenced on Aug. 8.
William Mills
MAY 30, 2024
Fintech companies face a formidable challenge: communication gaps that threaten to undermine their sales performance. These disconnects, often manifesting between departments, teams, and even with customers, can lead to misaligned strategies, missed opportunities, and a weakened competitive edge. Addressing these communication barriers is crucial for fintech firms striving to maintain their market position, enhance customer relations, and drive growth in an industry where precision and clarity a
Payments Dive
MAY 31, 2024
“The scale of fraud on the Zelle platform is unacceptably high,” National Consumers League Vice President John Breyault said.
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Shifting liability for digital fraud losses represents a significant challenge for financial institutions and payment service providers. In response to the global surge in digital fraud, regulators are introducing policies that transfer the cost of fraud from defrauded customers to financial institutions. ThreatMark’s newly released white paper, "The Liability Shift: Understanding Fraud Losses Responsibility and Mitigation," provides an in-depth analysis of this shift, its implications, and stra
BankInovation
MAY 30, 2024
Royal Bank of Canada is on target to fully integrate HSBC Canada into its operations within the next two years. The $1.4 trillion bank expects to save CA$740 million ($541 million) once the merger is completed, according to the bank’s earnings report for its fiscal second quarter ending April 30.
American Banker
MAY 29, 2024
The Securities and Exchange Commission's overly broad expansion of the Dealer Rule is only the latest example of the agency's yearslong effort to stifle innovation in a vibrant and growing industry.
TheGuardian
MAY 31, 2024
ShinyHunters stole information including bank and credit card numbers, as well as staff HR details Hackers are attempting to sell confidential information including the bank and credit card numbers of millions of Santander customers to the highest bidder. ShinyHunters posted an advert on a hacker forum for the data, which it says also includes staff HR details, with an asking price of $2m (£1.6m).
Payments Dive
MAY 31, 2024
The card issuer joins its tech and payments peers in integrating crypto into the traditional financial system.
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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.
BankInovation
MAY 28, 2024
Scotiabank saw digital adoption among customers and its tech spend tick up during its fiscal second quarter 2024. The Toronto-based bank reported active mobile users increased 10% year over year to 4.3 million, while its digital adoption rate increased 2.7% YoY to 64.5% in Canada in the quarter ended April 30.
American Banker
MAY 29, 2024
The retail giant has scrapped its credit card partnership with Capital One, its second public spat in recent years with a partner bank. Analysts say it may be a sign that Walmart wants to launch its own credit card on what it hopes will be a financial super-app.
TheGuardian
MAY 29, 2024
The FCA is considering opening a compensation scheme for customers after an influx of complaints When Gary Hill took out a £12,500 loan to pay for a new family vehicle in late 2014, he had no idea that the north London dealership he had travelled to from his home in Bedfordshire could have sway over his monthly payments. But the 45-year-old was in a bind, having started a new job that no longer gave him access to a company car.
Payments Dive
MAY 28, 2024
The new offering by the digital payments pioneer will be led by Mark Grether, who helped grow Uber Advertising into a $1 billion business.
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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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