Sat.Nov 02, 2024 - Fri.Nov 08, 2024

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10 Themes From Money 20/20 USA

South State Correspondent

The spectacle that is Money 20/20 went down last week, and it did not disappoint. Money 20/20 is likely the conference with the lowest conference-attendee-to-session-attendee ratio in the industry. The conference is all about sales, partnerships, and deal-making, with 2024 being right at the baseline. This year was less exuberant than 2022 but more strategic than any year we can remember in the past.

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Should You Waive Your Prepay Provisions With A Refi?

South State Correspondent

Over the last few years we have published various articles on the pros and cons of commercial loan prepayment provisions, how those prepay provisions impact marketing and sales, loan prepayment speeds, and the relationship between prepayment provisions and customer return on equity (ROE) (some of the recent articles are here , here , and here ). We are seeing more community banks incorporating prepayment provisions in commercial loans (especially for fixed-rate pricing).

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Teller Cash Recyclers 101: 4 facts to know

ATM Marketplace

TCRs have been around for a few decades now at this point, and they have evolved significantly since then. Here are four key facts to know about these machines.

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Suspicious activity monitoring: Keys to strengthening your AML/CFT program

Abrigo

Ongoing monitoring is more than just a regulatory requirement Suspicious activity monitoring is a cornerstone of a robust AML/CFT program, as emphasized in the FFIEC BSA Examination Manual. This critical function helps protect the U.S. financial system from misuse for money laundering, terrorist financing, and other financial crimes. Both FinCEN and federal banking regulatory agencies mandate ongoing monitoring for suspicious activity as part of the overall AML/CFT program.

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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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Fed aims to make instant payments the norm

Payments Dive

“It's going to be up to us to move instant payments from being novel to being normal,” Federal Reserve Financial Services’ chief payments executive told attendees at a major industry conference last week.

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Why Prepay Provisions Matter and Community Bank Strategies

South State Correspondent

Over the last few years we have published various articles on the pros and cons of commercial loan prepayment provisions, how those prepay provisions impact marketing and sales, loan prepayment speeds, and the relationship between prepayment provisions and customer return on equity (ROE) (some of the recent articles are here , here , and here ). We are seeing more community banks incorporating prepayment provisions in commercial loans (especially for fixed-rate pricing).

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What are the top future banking trends?

ATM Marketplace

Erin Cohee, VP of user experience and business development at OneUnited Bank to learn more about top banking trends from the perspective of the largest Black-owned bank in the U.S.

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Afterpay to arrive on 24M Cash App cards

Payments Dive

The digital payment company’s leader, Jack Dorsey, aims to create lending services that will appeal to millions of U.S. adults who haven’t had access to other forms of credit.

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AI Regulations for Financial Services: SEC

Perficient

Artificial intelligence (AI) is poised to affect every aspect of the world economy and play a significant role in the global financial system, leading financial regulators around the world to take various steps to address the impact of AI on their areas of responsibility. The economic risks of AI to the financial systems include everything from the potential for consumer and institutional fraud to algorithmic discrimination and AI-enabled cybersecurity risks.

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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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2024 Ranking Banking by Bank Director-Jeff For Banks Version

Jeff For Banks

Bank Director Magazine recently came out with its Ranking Banking report for 2024. The analysis was performed by Piper Sandler using the following criteria: "The report uses year-end 2023 data from S&P Global Market Intelligence. It uses four metrics to gauge the performance of public commercial and savings banks as defined by S&P. The metrics are core return on average assets and core return on average equity, tangible common equity to tangible assets, and nonperforming assets to loans

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The Benefits of AI for Banks and Credit Unions | FinTalk

Jack Henry

Discover how AI can support and enhance your bank’s or credit union’s mission and values. Read the blog to learn insights and planning steps.

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How Trump’s administration may rework payments policies

Payments Dive

The president-elect and his new administration will have the opportunity to revamp federal government approaches for everything from earned wage access to digital currencies to open banking.

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AI Regulations for Financial Services: CFTC and FDIC

Perficient

Artificial intelligence (AI) is poised to affect every aspect of the world economy and play a significant role in the global financial system, leading financial regulators around the world to take various steps to address the impact of AI on their areas of responsibility. The economic risks of AI to the financial systems include everything from the potential for consumer and institutional fraud to algorithmic discrimination and AI-enabled cybersecurity risks.

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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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Why Choosing a Paid Credit Card Can Be Worth It

BankBazaar

Choosing a paid Credit Card can enhance your financial well-being through superior rewards, exclusive perks, and improved customer service – often making it worth the annual fee. Are you grappling with the decision of whether to opt for a paid Credit Card with an annual fee or a lifetime-free card? While the allure of a no-fee Credit Card is understandable, there are several compelling reasons why a paid Credit Card may offer better long-term benefits.

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My late father is still being charged for car insurance

TheGuardian

His premium was £1,920 and I can’t get Sainsbury’s Bank to cancel the policy My dad FH passed away in July, and, since then, I have been trying to cancel his car insurance with Sainsbury’s Bank. I wrote to explain the situation, but it didn’t act on the letter or scan his interim death certificate. When I managed to speak to someone, in mid-September, it promised to cancel the policy and contact the underwriter to see if a refund could be backdated.

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Fiserv exec opens up on Walmart, DoorDash partnerships

Payments Dive

Sunil Sachdev, Fiserv’s head of embedded finance, shed light on his company’s latest high-profile collaborations.

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PNC doubles its branch expansion plans

American Banker

The Pittsburgh-based superregional bank plans to build more than 200 new branches in 12 states by 2029, twice the number it announced in February, in a bid to increase scale.

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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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Wise Platform and Standard Chartered partner to improve international payments

The Paypers

Wise , a global technology company focused on cross-border money transfers, has partnered with Standard Chartered to support augmented international payments for the latter’s cross-border payment service.

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Boots says it will ‘draw lessons’ from research into links to slavery

TheGuardian

Report looked into donations to Nottingham universities by Jesse Boot, who expanded pharmacy chain The high-street pharmacy Boots’s links to the transatlantic slave trade have been revealed in new research that shows how the proceeds of enslavement became entangled with British capitalism. Jesse Boot, the son of the company’s founder, expanded the chemist with the help of banks and premises linked to slavery.

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Fiserv, Capital One, others invest $150M in Melio

Payments Dive

Some of the corporate investors are also partnering with the accounts payable and receivable company they’re backing.

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Why do US banks persist in breaching AML regulations?

American Banker

An uptick in fines associated with anti-money-laundering failures demonstrates that U.S. banks still have much work to do in terms of optimizing their internal systems to identify and stop the flow of dirty money.

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Top 3 Banking Secrets to Stay Relevant with Gen Z Consumers

Speaker: Brian Muse-McKenney, Chief Revenue Officer & Matt Simester, Cards and Payments Expert

In today’s world of social media, dating apps, and remote work, businesses risk becoming irrelevant (or getting "ghosted") if they fail to meet the evolving needs of Gen Z consumers. Credit cards with flexible payment options, especially for young adults with little-to-no credit history, are a particularly important and valuable solution for this generation.

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Affirm introduces pay-over-time options in the UK

The Paypers

Affirm , a payment network that supports consumer purchases and merchant growth, has announced the launch of its pay-over-time options in the UK.

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Sir John Nott obituary

TheGuardian

Defence secretary in Margaret Thatcher’s cabinet during the Falklands war The reputation of John Nott, who has died aged 92, will for ever be linked with the Falklands war of 1982. Nott was the defence secretary in Margaret Thatcher ’s first administration and was extremely fortunate politically to survive one of Britain’s gravest postwar crises – yet it effectively ended his ministerial career.

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DOJ’s Visa lawsuit could affect Capital One-Discover review

Payments Dive

If the Justice Department were to block the Capital One-Discover deal while also going after Visa, “they’d be intellectually inconsistent,” a George Mason University law professor said.

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Fintechs need to be more proactive about regulatory compliance

American Banker

The Synapse failure and recent enforcement actions make it clear that fintechs need to up their regulatory compliance game. At the same time, they have an opportunity to help shape future rules.

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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