South State Correspondent
AUGUST 8, 2022
With 100+ public banks reporting, we have more than a representative sample to see 2Q 2022 bank earnings trends and derive some operational insights on bank performance. We touched on the 33 Items That Stakeholders Want to Know , which highlights some of the industry’s concerns and serves as a good checklist of items to touch on for employee, shareholder, and analyst briefings.
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Accenture
AUGUST 10, 2022
It’s an exciting time to be in payments—new technologies and business models are opening up more opportunities and markets. But that excitement is often tempered by concerns that efforts to capture compelling business opportunities may expose the new venture—and the firm—to unnecessary cybersecurity risk. But what if both the business and cyber teams were fully….
Payments Dive
AUGUST 9, 2022
A burst of acquisitions in the payments industry this month portend a jump in deal-making for the remainder of the year.
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Perficient
AUGUST 12, 2022
Finding the Right AI Service Provider in a Data-Driven World. It is not easy for even the most advanced enterprises to master modeling, data, applications, and digital expertise. Having the ability to take advantage of AI’s full potential as its capabilities expand is becoming increasingly important each day. A decision made using AI-driven intelligence will ensure that the best outcome can be achieved against change and disruption.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
CFPB Monitor
AUGUST 12, 2022
On July 29, 2022, the New York Department of Financial Services (“NYDFS”) released Draft Amendments to its Cyber Security Regulations. The Amendments, if adopted, would further regulatory trends and impose important new requirements on covered entities. The Amendments contain three significant changes relating to ransomware. First, the Amendment specifically adds “the deployment of ransomware within a material part of the covered entity’s information system” as a cybersecurity event requiring
Payments Dive
AUGUST 11, 2022
The restaurant software management company placed its digital tools at another 6,000 locations in the second quarter, for the biggest quarterly jump in that figure.
Perficient
AUGUST 9, 2022
The financial services industry has made major strides in amping up its overall customer experience game; however, there is still a deficit in the personalization and accessibility of products and services for many Americans. The financial services industry must consider its customer experience game while also grappling with a sense of distrust from many communities due to systematic barriers, maintaining utmost accessibility due to the essentiality of the business, and the lack of financial lit
South State Correspondent
AUGUST 12, 2022
Cooler Inflation Numbers Continue to Roll In. First, it was the cooler-than-expected CPI report on Wednesday. That was followed by July PPI yesterday that printed negative for the first time since April 2020. That was joined this morning by a better-than-expected Import-Export Price Index. Admittedly, this data series doesn’t carry the weight of the other two, but it does add to the story those reports told for the month.
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CFPB Monitor
AUGUST 8, 2022
In Director Chopra’s recent interviews with several news reporting organizations, a persistent theme was the CFPB’s concerns about the entry of big tech companies into financial services, particularly in connection with payments and the companies’ ability to collect and monetize data about consumers. Those concerns are the focus of a new CFPB report issued last week titled “The Convergence of Payments and Commerce: Implications for Consumers.”.
Payments Dive
AUGUST 10, 2022
Higher interest rates may make it more expensive for buy now-pay later providers to offer financing while inflation may put off lower-income consumers.
Perficient
AUGUST 8, 2022
Would you trust an electrician who lived in the dark? A plumber who didn’t have indoor running water? A digital asset subject matter expert and program manager who didn’t own a non-fungible token? Toward solving that last one, I thought it would be helpful for our readers to see step-by-step, my screen as I acquired my first NFT. Hopefully, readers will see what an actual NFT is, and after seeing how easy it is to acquire one, be inspired to obtain their own NFT.
South State Correspondent
AUGUST 8, 2022
A yield curve is a relationship between yield and different maturity dates. The yield curve’s slope can provide insight into future interest rate changes and economic activity. There is much discussion in the market about the current inverted yield curve between the two and ten-year Treasury yields. However, for bankers, the critical dates on the yield curve are short-term rates (Fed Funds) and the ten-year rate.
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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.
CFPB Monitor
AUGUST 12, 2022
On August 11, the CFPB published a circular confirming that covered persons and service providers under the Consumer Financial Protection Act (CFPA) may violate the CFPA’s prohibition against unfair acts or practices when they fail to adequately safeguard consumer information. Pursuant to the Gramm-Leach-Bliley Act, the FTC and federal banking agencies have promulgated rules and interagency guidelines requiring financial institutions to establish appropriate administrative, technical, and physic
Payments Dive
AUGUST 11, 2022
Green Dot disclosed in its recent quarterly report that it’s in a dispute with ride-share company Uber over their agreements. It also noted its failure to renew contracts with several other customers.
Jack Henry
AUGUST 12, 2022
With systemic factors at play that cannot be resolved by banks and credit unions alone, creating financial resilience and helping reduce reliance on expensive, alternative financial services is complicated. However, there’s a solid case for banks and credit unions helping accountholders improve their credit scores in the quest for overall financial health.
South State Correspondent
AUGUST 8, 2022
Treasuries Shrug Off Strong July Jobs Report. Treasury prices are higher this morning as the downdraft created by the stronger-than-expected July employment report was short-lived. We remain hard-pressed to see a catalyst to materially higher rates in the near-term as the market interprets the hot jobs market as a reason for the Fed to remain aggressively hawkish which implies rate hikes until the economy falters.
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Gonzobanker
AUGUST 10, 2022
Does Dick Durbin’s new legislation mean bye, bye airline miles and cash back? Gonzobankers might want to warn their customers that their credit card rewards may go away because the merchants’ favorite senator is at it again! U.S. Sen. Dick Durbin (D-IL) introduced legislation recently to require multiple networks for credit card transactions. Without trying to replicate the many articles that summarize this proposed legislation’s details, I want to discuss the potential impacts of this proposal
Payments Dive
AUGUST 10, 2022
Jack Henry management expects the Payrailz purchase to help its bank, credit union and other financial institution clients modernize their payments services.
BankUnderground
AUGUST 9, 2022
Owen Lock and Teresa Cascino. Cryptoassets could have important roles within the metaverse – a decentralised, immersive next generation of the internet. Cryptoassets enable verifiable ownership of digital items, and when built to common standards, can move interoperably between web applications – increasing the asset’s value proposition. They can also align the incentives of developers, content creators, users and investors on metaverse platforms, and are required to incentivise miners and
ATM Marketplace
AUGUST 12, 2022
Financial industry leaders will gather at the Bank Customer Experience Summit in Chicago from Aug. 31 to Sept. 1 to hear from thought leaders on the pressing issues in the financial industry. Secure your spot soon, as online registration closes Aug. 26.
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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.
Cisco
AUGUST 9, 2022
Financial institutions have to be vigilant in the face of a continually evolving cybersecurity threat landscape. As these have attacks have evolved, regulatory bodies have updated their regulations to account for the increasing threat of cyber risk. In 2015, following a significant increase in nation state and hacktivist attacks on U.S. financial institutions, the FFIEC released new guidance and a Cybersecurity Assessment Tool for institutions to self assess their risks and determine their cyber
Payments Dive
AUGUST 8, 2022
Banks that issue credit cards and the retailers who hate their fees are lining up allies on Capitol Hill to fight over a new bill that calls for more competition in the industry. Visa and Mastercard are at the center of the conflict.
BankUnderground
AUGUST 11, 2022
Ralph de Haas, Vincent Sterk and Neeltje van Horen. Anaemic productivity growth and limited business dynamism remain key policy concerns in Europe and the US. Policies to improve macroeconomic performance often target existing firms. Examples include tax measures to stimulate firm-level Research & Development and structural reforms to eliminate distortions in labour, financial, and product markets.
ABA Community Banking
AUGUST 8, 2022
The solutions for near-term balance sheet challenges may pose greater problems in the long run. The post Strategies for swollen balance sheets appeared first on ABA Banking Journal.
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