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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Back to Basics with Reconciliations

Join us in this webinar, where we share best practices on how to think about the reconciliation work each month, when best to do reconciliations, how they should be prepared, and some common pitfalls to avoid. Learning Objectives: This course objective is to understand how to properly prepare and review balance sheet reconciliations and its impact on the financial statements.

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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.

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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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How a Managed Services Partner Can Reduce the Friction in Your RDC Program

Treasury teams at community banks face an ongoing challenge of delivering frictionless customer experiences as they support treasury products – especially RDC. This infographic focuses on the efficiencies community banks gain when partnering with a proven managed services provider. You’ll see the advantages you can gain when a managed services partner leverages online tools, skilled customer and technical support personnel, and fulfillment and logistics capabilities to streamline RDC fulfillment

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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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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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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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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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Budget Playbook for Commercial Lenders — Bank and Credit Union Edition

Amid market uncertainty, banks and credit unions are faced with critical decisions about the future of their commercial lending. With fluctuating interest rates and rising competition from non-bank lenders, it's critical to allocate your 2025 budget strategically to optimize lending operations. Our Budget Playbook for Commercial Lenders delivers key strategies to help you navigate these challenges, ensuring your institution is well-positioned for the coming year.

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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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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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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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Is Your Current Card Platform Holding You Back?

Have you ever felt the pain and loss of a client suddenly going silent, leaving you questioning everything? Ghosting can cause heartbreak; in business, it drains resources, and emotionally, it shatters your confidence. A modern credit card program can give you the tools to deliver the digital-first experiences your customer’s demand. Our eBook, “5 Signs Your Credit Card Offering Needs an Upgrade,” will help you identify key indicators that your current card platform may be holding you back and w

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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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Affirm CFO doesn’t expect profits from its Apple tie soon

Payments Dive

The company’s finance chief compared the rollout of its partnership with Apple to the launch of its own payment card, saying the company preferred a “very thoughtful and controlled” approach.

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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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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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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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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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Wise persists with reduced pricing approach

Payments Dive

The fintech plans to continue its strategy of reducing prices for its customers, which is reflected in its forecast, interim CFO Kingsley Kemish said.

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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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Turnover time: Why so many banks have CFO vacancies

American Banker

Due to retirement, burnout, heightened regulatory standards and probability challenges, lots of lenders are looking for new chief financial officers. The wave of departures is giving banks a chance to bring in more highly skilled finance chiefs.

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3 Ways Managed Device Services Help Community Banks Cut Costs

Community banks seek ways to leverage their technology infrastructure to drive productivity and growth. However, the sheer volume of technology devices, capital constraints, and lack of skilled resources stand in the way. This Strategy Brief explores how a managed device services partner can help bridge this resource gap. Managed device services partners empower community banks to take charge of mission-critical device management activities with: Logistics and installation services to support se