Accenture
JUNE 14, 2022
You can divide the history of money into five epochs, with each creating a new paradigm for the exchange of value. We are about to enter the next one—and it might just mean that the idea of money will come full circle. Direct exchange of the goods being traded is the oldest form of value…. The post Why money in the metaverse is a huge opportunity for banks appeared first on Accenture Banking Blog.
BankInovation
JUNE 13, 2022
Rapidly scaling technology can foster innovation at the bank level, but it can also create operational risks — from data breaches and environmental failures to other unexpected events. Central to guarding against such threats is cultivating resiliency in bank infrastructure architecture and development. Following are four best practices for enabling operational technical resiliency: Practice failure […].
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Payments Dive
JUNE 17, 2022
"The Visa-Mastercard duopoly controls about 80% of the market share, allowing them to raise fees indiscriminately and with no formidable opposition," contends Doug Kantor, general counsel for the National Association of Convenience Stores.
South State Correspondent
JUNE 17, 2022
A Tumultuous Week Comes to a Close. We mentioned on Monday to tighten your seat belt as it could be a wild ride this week and that prediction certainly came true. The peculiar thing, however, is that with all the volatility this week has brought, the 10yr Treasury is practically back where it started the week. The current yield sits at 3.21% compared to 3.16% when the week opened.
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Accenture
JUNE 16, 2022
Ask any school-leaver what profession they want to enter, and banking is unlikely to appear on their short-list. The banking industry has an image problem among job-seekers. And it’s worsening an increasingly severe shortage of talent. The scramble for talent is one of the Accenture Banking Top 10 Trends for 2022. Banking executives in Europe…. The post Banks plot new ways to win the scramble for talent appeared first on Accenture Banking Blog.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Dive
JUNE 15, 2022
Metropolis Technologies, which uses computer vision and machine learning for parking payments, plans to use the funding to scale, aiming to hire 500 workers by the end of the year.
South State Correspondent
JUNE 15, 2022
Treasuries Finally Find a Bid. On Fed Day, Treasuries are finally finding a bid as news that the ECB convened an emergency meeting added a flight-to-safety bid into the Treasury market. The ECB is worried that some of its peripheral members are seeing yield spreads significantly widen as they prepare to hike rates and that could threaten financial stability.
Accenture
JUNE 15, 2022
Credit card receivables & purchase volume YoY growth: 1Q22 Click/tap on image to enlarge. 1 Average Receivables in Billions. Note: Citi inclusive of both Branded and Retail Services. AXP is Revolving only. SYF A/R is Retail Card, NCL is total company. Earnings call commentary Growth “Spending growth was led by the acceleration of volumes from….
CFPB Monitor
JUNE 14, 2022
The CFPB issued an order last week terminating the no-action letter issued to Upstart Network, Inc. on November 30, 2020 for a 36-month term (NAL). The NAL was essentially a renewal of the no-action letter issued to Upstart in September 2017, which was the first no-action letter issued by the CFPB. The NAL was issued in connection with Upstart’s automated model for making underwriting and pricing decisions on applications by consumers for unsecured, closed-end loans.
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Payments Dive
JUNE 13, 2022
The company aims to improve the checkout experience for both merchants and consumers, with new services being tested this year, CEO Dan Schulman said.
South State Correspondent
JUNE 15, 2022
Fed Delivers a 75bps Rate Hike. The Fed relented to market pressure and raised the overnight fed funds target rate 75bps to 1.50% – 1.75%. The stronger-than-expected May CPI Report has kept financial markets under pressure since its release last Friday and the Fed acknowledged that pressure with the need to move in larger increments in its rate-hiking campaign.
SWBC's LenderHub
JUNE 13, 2022
Last Week. Last week marked the market’s final confirmation that corrosive inflation is out of the barn with the Fed hopelessly behind trying to play catch-up. The choice for the Fed now is to either stay the course with relatively measured policy tightening and accept the potential for continued growth in inflation or attack inflation with more aggressive tightening and send the economy into a deep recession.
Gonzobanker
JUNE 16, 2022
Challengers are picking off bank customers with macro-personalization. It’s hard to pin down exactly when the term “personalization” entered the business lexicon, but the 1993 book, The One to One Future: Building Relationships One Customer at a Time , by Don Peppers and Martha Rogers, certainly helped launch the term’s popularity. If you thought, however, that after 28 years, banks had perfected the art of personalization, you’d be wrong.
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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 16, 2022
B2B fintech Tipalti aims to scoop up some additional businesses as startups struggle with a slowdown in equity funding.
South State Correspondent
JUNE 14, 2022
Treasury Yields Reach Highest in a Decade. The May CPI Report continues to reverberate around the world, and in its wake are Treasury yields not seen in over a decade. Investors are betting the Fed will either not be able to contain inflation anytime soon, or that if they do it will necessitate a hard economic landing in the form of a recession. The 10-yr yield is currently 3.27%, a new cycle high eclipsing the 3.21% touched briefly in May, and it’s also the highest 10yr yield since May 2011.
ATM Marketplace
JUNE 17, 2022
While the use of artificial intelligence has grown throughout several industries in recent years, there is still a great deal of mystery and the "fear of the unknown" surrounding AI. Panelists at the ICX Summit addressed this topic head on.
BankUnderground
JUNE 14, 2022
Lena Anayi, John Lewis and Misa Tanaka. Since the onset of Covid-19, firms and workers have adopted and adapted to new working arrangements, which involved some workers primarily or exclusively working from home (WFH). What lessons – if any – can be drawn from this experience to inform future of work? A previous blog post examined how WFH might affect productivity.
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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 15, 2022
PayPal is making a bigger move into buy now-pay later financing as competitors in that arena multiply. It will now offer a new monthly payment plan targeted at bigger purchases.
BankInovation
JUNE 15, 2022
PayPal Holdings Inc. is pushing deeper into the rapidly expanding “buy now, pay later” arena by offering installment loans for larger purchases. Consumers will be able to make monthly payments on purchases of $199 to $10,000 for as long as two years, PayPal said in a statement. Annual percentage rates on the loans could reach […].
TheGuardian
JUNE 15, 2022
‘Net zero’ global alliance of financial institutions, begun at Cop26, can still invest in coal and other fossil fuels Banks that have signed up to a global climate pledge, led by Mark Carney , a former governor of the Bank of England, can still invest unlimited amounts in coal mining and coal power, despite promises to tighten the rules on their lending.
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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 14, 2022
Payments companies “led the pack in valuation increases” and had the biggest average increase in valuation, according to S&P Global Market Intelligence.
ATM Marketplace
JUNE 14, 2022
When an ATM is down, a bank or retailer will have to deal with an upset and likely angry customer. At the same time, repairing ATMs can be an expensive endeavor. How do banks and retailers solve these issues?
BankInovation
JUNE 17, 2022
Bank of America is looking to upgrade its client communications after auto loans are approved as the bank continues to lean on its digital capabilities and more consumers apply for loans through online channels. The upgrade is expected within the next year and comes on the heels of a chat support feature in the bank’s […].
TheGuardian
JUNE 13, 2022
HBOS, now part of Lloyds Banking Group, was involved in major fraud at its Reading branch in early 2000s Victims of one of Britain’s biggest banking frauds will each be offered £3m compensation packages, according to a source familiar with the proposed deal expected to be announced later this week. Halifax Bank of Scotland (HBOS) – which is now part of Lloyds Banking Group – was involved in a major fraud at its Reading branch in the early 2000s.
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