South State Correspondent
JUNE 20, 2023
For the first time in ten meetings and the first time in 15 months, the Federal Reserve left its fed funds rate unchanged at 5.00–5.25%. However, far from settling future interest rate moves, the “Fed Pause” creates several perplexing future monetary scenarios. While the Fed did pause, it increased its terminal rate forecast by another 50 basis points.
BankInovation
JUNE 22, 2023
Bank of America’s Amanda Sorensen, senior vice president of the Business Information Security Office, is focused on risk mitigation, staying ahead of cybercriminals and monitoring cyberattacks at the $3.1 trillion bank. The Charlotte, N.C.-based bank announced that it had increased its projected technology spend by $400 million for 2023 to $3.
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Payments Dive
JUNE 20, 2023
The bills introduced last week aim to protect Americans’ right to use cash, and to address privacy concerns regarding a cashless economy.
South State Correspondent
JUNE 22, 2023
In the last article, we covered the basics of EOS ( HERE ), the Entrepreneurial Operating System, and how some banks use it to improve productivity. EOS is a comprehensive business system that empowers a leadership team to run a more successful bank. EOS comprises a series of tools and concepts that guide leaders in managing and optimizing their operations.
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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.
Abrigo
JUNE 23, 2023
A unified data platform helps banks organize without the headaches Abrigo Connect offers an alternative to data warehousing that lets financial institutions more easily put their data to use. You might also like this on-demand webinar on the new CFPB small business data collection rule Watch Takeaway 1 Banks and credit unions often face challenges implementing data warehouses and are not pleased with the result.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Dive
JUNE 23, 2023
Fees and interest incurred on financial services, including credit cards, rose 14% last year, the Financial Health Network reported.
ATM Marketplace
JUNE 20, 2023
Cryptocurrency took a major hit this month, as the Securities and Exchange Commission opened lawsuits against popular exchanges Binance and Coinbase.
American Banker
JUNE 22, 2023
Ransomware gang Cl0p is currently threatening 50 companies with releasing data it stole from them late last month.
CFPB Monitor
JUNE 23, 2023
On June 20, 2023, the Consumer Financial Protection Bureau (“CFPB”) issued its Office of Servicemember Affairs Annual Report , which analyzes consumer complaints received from servicemembers, veterans, and their families for the prior year. This year’s report highlights an increasing number of complaints received from servicemembers regarding payment apps and the heightened risks associated with identity theft and unauthorized use for military consumers.
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.
Payments Dive
JUNE 23, 2023
Can ATMs justify their existence in an increasingly cashless world?
ATM Marketplace
JUNE 21, 2023
The sheriff claims his office acted appropriately in seizing cash from the machine and returning it to the victim of a ransomware scam. BItcoin Depot claims legal procedure was not followed.
The Paypers
JUNE 21, 2023
US-based Mastercard has filed a trademark application for several cryptocurrency and blockchain-related tools reinforcing the company's interest in the crypto sector.
BankInovation
JUNE 23, 2023
Amid strong competition for deposits, Seattle Bank’s CD Valet, which assists customers in finding the most competitive certificate of deposit rates, this month added digital account opening capabilities to the platform.
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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.
Payments Dive
JUNE 21, 2023
Canadian e-commerce company Shopify is upgrading its integration with Dutch fintech Adyen in an effort to serve larger merchants in North America, and on the international stage.
ABA Community Banking
JUNE 23, 2023
Banks can use low-code no-code tools to drive innovation and customize and automate workflows even if they don’t have staff with highly technical coding experience. The post Low-code no-code: A visual approach to tech innovation for banks appeared first on ABA Banking Journal.
American Banker
JUNE 21, 2023
Data from recent bank failures suggests that prevailing assumptions about which deposits are the most volatile could be dangerously flawed.
BankInovation
JUNE 20, 2023
The collapse of Silicon Valley Bank, First Republic Bank and Signature Bank has companies looking to technology providers to ensure they have the right payment strategies in place.
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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.
Payments Dive
JUNE 22, 2023
“B2B organizations have been slow to adapt to the changing demands and expectations of Gen Z,” writes a payments company vice president. “This is a huge mistake, and it can cost them dearly in the long run.
ABA Community Banking
JUNE 21, 2023
Affordable housing is an old problem in search of new solutions. As banks develop creative, sustainable programs to help close ever-widening wealth and homeownership gaps in underserved communities, they know there’s more to be done. The post Housing affordability: In the pursuit of equity appeared first on ABA Banking Journal.
Gonzobanker
JUNE 21, 2023
What’s the #1 search engine for Gen Z consumers? Mary Wisniewski invites Tony DeSanctis to chat about what works and doesn’t to influence and engage a Gen Z audience. Could financial institutions, not traditionally known for making emotional connections with customers, be doing a better job? Watch the video Social clips cited: [link] [link] [link] The post Want to Get Gen Z’s Attention?
BankInovation
JUNE 20, 2023
Discover has pledged $36 million toward its Discover Financial Health Fund, an initiative launched last week to support startups that promote the financial well-being of traditionally underserved populations.
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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.
Payments Dive
JUNE 23, 2023
The online broker said it agreed to acquire the credit card business for $95 million. X1 doesn’t charge card holders annual or late fees, but does charge interest.
ABA Community Banking
JUNE 22, 2023
Some bankers would rather get a root canal than do a core conversion. Here’s why others are finding the conversion option attractive. The post Conversion experiences appeared first on ABA Banking Journal.
American Banker
JUNE 22, 2023
In its ongoing quest to diversify beyond bank account data-aggregation, Plaid aims to help fintechs and banks to block fraud by sharing data about stolen consumer identities via a fee-based consortium called Beacon.
BankInovation
JUNE 23, 2023
Plaid is looking to fight fraud with its Thursday launch of a network-based tool to help financial institutions take a collective approach to a problem that cost consumers nearly $8.8 billion in 2022, according to the Federal Trade Commission.
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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