Sat.Jun 15, 2024 - Fri.Jun 21, 2024

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3 Key Takeaways from XLoD 2024

Perficient

Our risk and regulatory compliance experts, Carl Aridas and Chandni Patel, have just returned from XLoD 2024 in New York. The event brought together the world’s top financial institutions and regulators to discuss the future of non-financial risk and control. With over 500 industry professionals in attendance, it showcased the unwavering commitment to practical innovation within the field.

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Solving the puzzle: How interoperability eases banks’ core modernization dilemma

Accenture

If it wasn’t already apparent, the sudden emergence of generative AI has certainly confirmed it: the ability to quickly respond to new challenges and opportunities is a critical attribute of any successful organization, including banks. The agility that allows an organization to respond effectively is influenced by several factors, such as skills, culture and corporate… The post Solving the puzzle: How interoperability eases banks’ core modernization dilemma appeared first on Accentu

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Why You Need Bank Product Management

South State Correspondent

Banks don’t have enough product managers. A bank has a leader for a business line but usually only caretakers for products. A manager may oversee the operation of a product, but few banks have product managers who drive product development and performance. As a result, bank performance suffers. The magical equation is more profitable products to more profitable customers, and one way to positively influence this formula is to make more profitable products.

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Shift4 acquires stake in German firm

Payments Dive

Shift4 is on an acquisition spree after making a new investment in the point-of-sale supplier, and closing of a purchase announced earlier this year.

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Fall In Love With the Month-End Close

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.

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Regulators War on Banking

Jeff For Banks

Last year I wrote a Forbes Finance Council article What's Missing in the CFPB's War on Junk Fees ? That war was being waged against overdraft fees. I stated that comparing the fee assessed on an overdraft to the cost of processing one is like comparing the cost to manufacture a pill to the cost of the medication. It is short-sighted to isolate overdraft fees from the total cost to originate and maintain a checking account.

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Overcoming Interest Rate Challenges in Banking

South State Correspondent

Deposit costs and liquidity remain a challenge for some community banks as competition for core funding remains intense. The graph below compares the liquidity ratio for community banks (under $10B in assets) and banks over $100B in assets. The average difference in liquidity is stark, but for many community banks the issue is translating to higher rates on deposits, margin squeeze, and lower profitability.

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5 key steps to creating and executing on an embedded finance roadmap

Payments Dive

By offering financial services tools and features, SaaS platforms can become stickier and more indispensable to SMBs.

Tools 397
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Balancing the human touch with AI — a Q and A with Marbue Brown

ATM Marketplace

Marbue Brown, author, consultant, and CX executive, shares strategies for balancing AI with the human touch in customer experience development, the topic of his panel at the ICX Summit in Charlotte, NC on September 9-11.

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5 questions with … Morgan Stanley Head of AI Jeff McMillan

BankInovation

Morgan Stanley’s Jeff McMillan, head of firmwide artificial intelligence, is focused on developing and deploying AI throughout the operations of the $212 billion financial institution. The New York-based FI appointed McMillan to the newly created position March 14, he told Bank Automation News.

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5 Ways You Can Win Faster with Gen AI in Sales

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.

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‘I was abused twice, first by my partner and then by my bank’

TheGuardian

Charities are calling for more help for women trapped with mortgages they cannot change because they are controlled by an abusive partner A woman whose controlling partner’s abrupt departure left her with an unaffordable mortgage has accused Barclays of refusing to help her as she struggled with the fallout. Sally James*, a mother of two teenage daughters, says the bank refused to restructure her repayments when she could no longer afford them after being left as a single parent.

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Apple to drop BNPL option in US

Payments Dive

The tech giant said it will discontinue its buy now, pay later service and shift to offering consumers alternative payment options.

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ATM Security: 5 ways to prevent attacks

ATM Marketplace

ATM security is a moving target. Here are five ways to hit the mark.

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BBVA plans to start digital bank in Germany to rival JPMorgan

BankInovation

Banco Bilbao Vizcaya Argentaria SA is planning to open a digital consumer bank in Germany, using existing technology to expand at relatively low cost. The project is led by Javier Lipuzcoa, the head of BBVA’s digital bank in Italy, according to people familiar with the matter.

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The Role of Automation in Commercial Lending

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.

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Small UK businesses call for new repayment terms for Covid loans

TheGuardian

Four years after the pandemic, firms say rising costs mean they need longer to pay back money from the government Jess Christman, who runs a Scottish timber business, recalls that banks were “throwing money” at him during the Covid-19 pandemic as Rishi Sunak, then the chancellor, sought to help small companies stave off collapse. Christman, who runs Black Isle Firewood, near Inverness, which produces firewood and sawn timber and huts for the tourism market, ended up taking out a government-backe

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FTC warns of cash losses to government impostors

Payments Dive

The median loss paid in cash to government impersonation scammers in the first quarter was $14,740, far above the $1,000 median for all payment types.

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Appraisers Succeed or Fail Together

Realwired Appraisal Management Blog

My wife and I plus some friends recently sailed in a 500 mile race on our 36 foot catamaran to Mexico from Florida. This trip isn’t for the faint of heart. Pre-race weather report 25 knot winds gusting to 30 knots, 9 to 11 foot seas two days out on the Mexican side.

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OneAZ Credit Union to explore using blockchain technology 

American Banker

"We're in an era of instant gratification, where we're not compared to other financial institutions, but rather to companies like Amazon, Apple, Google and Facebook," says Chief Technology Officer Sandeep Uthra.

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Outsource With Confidence for RDC Program Success

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.

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7 cash management, recycler strategies to follow

ATM Marketplace

Many Teller Cash Recycler brands have become obsolete with limited parts. Some are even at end of life and are a security risk. Here are seven tips for how to keep them up to date.

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PayPal fills CTO position with former Walmart exec

Payments Dive

Former Walmart EVP Srini Venkatesan will replace Archie Deskus, who joined the payments firm in 2022.

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HSBC’s Swiss private banking arm breached money-laundering rules, regulator finds

TheGuardian

Finma watchdog says bank failed to carry out adequate checks of two high-risk business relationships HSBC’s Swiss private banking arm breached money-laundering rules by failing to carry out adequate checks on the high-risk accounts of two politically exposed individuals, Switzerland’s banking regulator has found. HSBC Private Bank (Suisse) has been banned from taking on any new high-risk customers until it has completed a full review of its business relationships, Switzerland’s Financial Market

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Banks are setting SMBs up for success with new tech

BankInovation

Managing cash flow, tapping into data-driven insights and accessing capital: Small businesses are looking to their bank partners to provide digital solutions to streamline access to data, insights and cash. This has been “the No. 1 issue that small businesses have faced,” Matt Baker, board adviser at Uplinq, told Bank Automation News.

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It Takes Two to Tango

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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Bank of Hawaii, hit by unrealized bond losses, eyes capital raise

American Banker

The Honolulu bank is raising $165 million through depositary shares, a move that two observers said would help boost its below-average leverage ratio.

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Amex to buy Tock for $400M

Payments Dive

American Express said it will buy the reservation platform Tock from website builder Squarespace to buttress its dining digital services.

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Ethical banking in the UK: how to put your everyday account to good use

TheGuardian

With spotlight on investments behind banks, we ask whether three top providers still offer a good deal Protests outside Barclays branches and the recent arguments over Baillie Gifford’s sponsorship of book festivals have put the spotlight on the investments behind big banking institutions. For most people, choosing an ethical home for their current account will be the easiest way to ensure their money is being used in an environmentally friendly or socially responsible way.

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Nearly half of Americans open to AI in banking

BankInovation

As the financial services industry is integrating AI in its offerings, consumers are becoming more accepting of the technology in day-to-day banking. “AI has been around in financial services and banking for 20 years,” Scott Hofmann, chief revenue officer at GFT Americas, told Bank Automation News.

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10 Ways to Leverage Buyer Signals and Drive Revenue

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.