Accenture

AUGUST 28, 2023

How loyal are your customers? And do they feel truly rewarded for their ongoing relationship with your bank? According to recent Accenture research, banking customers view loyalty as a two-way street: they are open to being loyal to one primary bank, but they want their bank to recognize and reward this loyalty. And while the… The post How banks can reimagine a winning loyalty strategy appeared first on Accenture Banking Blog.

Strategy 369

Strategy Customer Experience Study Digital Banking 369

South State Correspondent

AUGUST 30, 2023

One challenge in banking is that many banks know data is the bank’s future but lack a data framework. As a result, their progress in leveraging data and machine learning is slow. In this article, we explore what a data strategy looks like, how that translates into tactics, and how the “Next Best Action” should be a near-term goal to build towards.

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Data Analytics Strategy Examples 195

BankInovation

AUGUST 30, 2023

The Federal Reserve launched its much-awaited FedNow real-time payments channel on July 20, and experts say it can be revolutionary for the payments industry.

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United States America Industry Payments 116

South State Correspondent

AUGUST 28, 2023

Bankers need to consider the term structure of rates, also known as the yield curve shape, when structuring and pricing commercial loans to maximize return and reduce risk. Many bankers and borrowers are convinced that a recession is imminent, but the current term structure of rates does not necessarily establish this conclusion. The yield curve’s predictive power is not causal; instead, there is a weak relationship between short and long-term rates, and it is not just the slope of the c

Atlanta 195

Atlanta Marketing US Report 195

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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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Abrigo

AUGUST 31, 2023

Teaching staff these KYC tips to make clients feel more comfortable In 2023, KYC procedures must both support CDD compliance and make sure your institution is a welcoming place for all customers. You might also like this resource, "Customer due diligence checklist." DOWNLOAD Takeaway 1 Front-line teams are the eyes and ears of the financial institution and must update their KYC procedures for the times.

Compliance 195

Compliance Community Training System 195

The Financial Brand

AUGUST 28, 2023

This article Is ChatGPT Ready for Banking? Yes and No appeared first on The Financial Brand. Think twice before you set generative AI loose to handle customer service. What private customer information could it expose to the world? This article Is ChatGPT Ready for Banking? Yes and No appeared first on The Financial Brand.

Branding 29

Branding Banking Trends Trends Strategy 29

ATM Marketplace

AUGUST 29, 2023

How can banks help small businesses with lending and cash flow while also delivering individualized experiences?

Meeting 96

Meeting Lending 96

American Banker

AUGUST 30, 2023

Ireland's central bank holds loan data for too long, Bank of America enables two-way corporate disbursements in Canada, and more.

Data 92

Data America Payments 92

American Banker

AUGUST 30, 2023

Innovations Financial Credit Union is purchasing First National Bank Northwest Florida, taking the place of Harvesters Credit Union, which terminated its 2022 deal to acquire the bank.

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Florida National Innovation 84

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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

Community Bank

Payments Dive

AUGUST 31, 2023

"We look forward to working closely with other OWF members to advocate for solutions that ensure we’re building a privacy-forward wallet for everyone,” Google Wallet Vice President Jenny Cheng said.

Google 435

Google 435

CFPB Monitor

AUGUST 31, 2023

A group of trade associations has sent a letter to CFPB Director Chopra urging the CFPB to address the disparity that has resulted from the order entered by the Texas federal district court in the lawsuit challenging the CFPB’s small business lending rule that granted preliminary injunctive relief only to the plaintiffs and their members. .

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Lending Texas Compliance Groups 165

BankUnderground

AUGUST 31, 2023

Julian Oakland Exchange-traded funds (ETFs) are supposed to be simple and straightforward, and for the most part they are, but one group punches well above its weight when it comes to market impact. In this post, I show that leveraged and inverse (L&I) ETFs generate rebalancing flows that: (1) are always in the same direction of the underlying market move; (2) grow significantly with both increasing and inverse leverage ; and (3) must be transacted towards the end of the trading day.

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Oakland Marketing US Policies 121

BankInovation

AUGUST 29, 2023

Barclays Head of Markets Digital Strategy Jennifer Warren will join the Bank Automation News webinar Global Ideas for Better Banking AI on Thursday, Sept. 14, at 11 a.m. ET. With more than 20 years of experience in financial markets, Warren specializes in spearheading step-change business growth and innovation strategies.

Digital Strategies 103

Digital Strategies Strategy Marketing Innovation Strategies 103

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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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Payments Dive

SEPTEMBER 1, 2023

Sens. Dick Durbin and Roger Marshall railed against expected credit card fee increases following a report that hikes are planned for October and April.

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Cards Report 418

CFPB Monitor

AUGUST 31, 2023

The Department of Justice (DOJ) announced that it has entered into a settlement with American Bank of Oklahoma (ABOK) to resolve allegations that ABOK engaged in unlawful redlining in Tulsa, Oklahoma. The DOJ opened its investigation of ABOK after receiving a referral from the FDIC. In its complaint , the DOJ alleged that from 2017 through at least 2021: All of ABOK’s branches and loan production offices were located in majority-white neighborhoods; For purposes of the CRA, ABOK designated its

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Tulsa Oklahoma FDIC Lending 88

Jack Henry

SEPTEMBER 1, 2023

Learn about the event, be inspired by the credit union community, learn more about the solutions developed, and consider participating next year.

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Community Analysis Operations Technology 97

TheGuardian

SEPTEMBER 1, 2023

Survey released as HSBC becomes latest lender to increase maximum home loan term to 40 years A third of those with a mortgage do not think they will pay it off by the time they are 65, according to data this week. It coincided with HSBC becoming the latest big lender to increase its maximum mortgage term to 40 years. The chaos in the home loans market has resulted in millions of people in the UK being hit with or facing dramatically higher costs – prompting many to look at stretching their mortg

Survey 102

Survey Data Marketing Payments 102

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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

Cards

Payments Dive

AUGUST 30, 2023

Card issuing banks and their card network partners are poised to increase fees they charge merchants as soon as October, The Wall Street Journal reported.

Cards 370

Cards Report 370

BankInovation

AUGUST 31, 2023

Financial institutions can treat AI as a team member in need of training rather than a tool that needs monitoring.

Training 119

Training Tools 119

CFPB Monitor

AUGUST 31, 2023

The CFPB announced this week that it has entered into a proposed settlement of a lawsuit it filed in 2019 in Utah federal district court against a group of defendants who constitute the largest credit repair organizations in the United States. Rather than targeting the quality or effectiveness of the credit repair services actually provided by the defendants, the lawsuit targeted the marketing methods allegedly used by the defendants to obtain referrals of consumers.

Utah 78

Utah United States Groups Marketing 78

American Banker

AUGUST 30, 2023

The card network is working with the Bank of Montreal and the fintech Extend to enable businesses to approve and track in-store payments via employees' own digital wallets.

Cards 96

Cards Fintech Payments 96

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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.

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Payments Dive

AUGUST 31, 2023

Employers can better compete for gig workers, and other employees, by offering instant payment of wages, one fintech president argues.

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Fintech Payments 397

TheGuardian

AUGUST 30, 2023

Government-backed bank throws down gauntlet to high street lenders with new growth bonds The UK government’s savings bank, NS&I, has “thrown down the gauntlet” to high street rivals by launching a one-year fixed-rate savings account paying a table-topping 6.2%. Commentators said NS&I was likely to experience strong demand from savers keen for a decent return, as it means they get to secure a record rate that comes with a 100% Treasury guarantee.

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Security 89

CFPB Monitor

AUGUST 31, 2023

Section 5 of the FTC Act, which prohibits unfair or deceptive acts or practices, does not include a private right of action. Our special guest, Professor Myriam E. Gilles of Cardozo Law School, has written a law review article in which she makes the case for adding a private right of action to Section 5. .

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American Banker

AUGUST 31, 2023

Bank customers who overdraw their accounts now face an average fee of $26.61, which is down from a peak of $33.58 in 2021. Consumer advocates contend that tougher regulations are needed to sustain the momentum, while industry groups argue that bank-led innovations are working.

Survey 90

Survey Regulation Groups Innovation 90

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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

Community Bank