Perficient

MAY 15, 2023

Given that 81.5% of Americans are considered “fully banked,” many opportunities exist for financial services institutions to take advantage of the vast amount of customer data they possess. Here are three ways financial services institutions can reap the benefits of a data-driven mindset. 1. Improved Productivity & Efficiency. Institutions that prioritize their data will realize the importance and benefits of optimizing data processes.

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ABA Community Banking

MAY 18, 2023

The cover story of the latest issue of the ABA Banking Journal features an unprecedentedly transparent look into what happens inside a financial institution during and after a ransomware attack. The post Podcast: The anatomy of a community bank ransomware attack appeared first on ABA Banking Journal.

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Community Bank Community Risk Management Compliance 52

Abrigo

MAY 19, 2023

Does your loan review system meet regulatory expectations? Read more for specific objectives every loan review system should meet. You might also like this webinar, "Return to basics: Asking the right credit risk questions." WATCH Takeaway 1 Loan review officers must figure out how to adhere to the FDIC’s guidance on loan review and credit risk review systems.

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South State Correspondent

MAY 15, 2023

Last week we spoke to a $1.2B community bank management team. The CLO was lamenting how he was losing quality loans and deposits to three aggressive national banks in the territory. An example was a $1.95mm owner-occupied CRE loan, where the borrower had multiple operating accounts totaling almost $500k. While this community bank is not aggressively pricing new loans, losing this commercial credit with a substantial deposit relationship was painful.

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National Community Bank Community Examples 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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Payments Dive

MAY 16, 2023

First-quarter credit card balances jumped 17% over the same period last year, according to New York Fed data.

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Cards New York Data 362

Abrigo

MAY 19, 2023

Loan reviewer training and development What might a loan review curriculum look like and how can your financial institution develop good loan reviewers? You might also like this webinar, "Return to basics: Asking the right credit risk questions." WATCH Takeaway 1 Loan review departments often lack funds for training and education, but a shortage of experienced loan reviewers is a challenge for many banks.

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Training Lending Risk Management Guidelines 195

South State Correspondent

MAY 18, 2023

This month, we rolled out “Tate,” our generative AI chatbot driven by ChatGPT that was designed to increase the productivity of our employees and allow us to become familiar with large language models. It’s been two weeks since its introduction, and we have already learned more than we bargained for. As one of the first banks to bring this to production, we break down the seven most important lessons we have learned so far in hopes of making your institution’s path easier.

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US Training Examples Data 195

Payments Dive

MAY 17, 2023

The digital payments company is considering a sale of its Xoom cross-border business, The Information reported, citing an unnamed source.

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Report Payments Company 468

BankUnderground

MAY 19, 2023

Ambrogio Cesa-Bianchi, Federico Di Pace, Aydan Dogan and Alex Haberis The recent steep rise in energy prices led to a rise in the price of energy-intensive tradable goods, with inflationary pressures subsequently broadening into services in many economies. Because services are less traded and have little energy input some have suggested this broadening might indicate inflationary pressures becoming more persistent.

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Policies Analysis Marketing Resources 110

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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

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Abrigo

MAY 18, 2023

How to evaluate loan review processes based on their scope and depth A closer look at loan review can help your institution determine what steps to take to please regulators and streamline processes. You might also like this webinar, "Return to basics: Asking the right credit risk questions." WATCH Takeaway 1 Scope and depth are useful evaluation benchmarks for your financial institution's loan review process.

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Lending Training Guidelines Policies 195

ATM Marketplace

MAY 16, 2023

Is traditional banking dead? Or is it transforming? The answer may lie in keeping the traditional touch while integrating innovative technology: like Valley Bank's recent digital signage makeover.

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Innovation Technology 95

Payments Dive

MAY 15, 2023

“Regional regulatory bodies must work together on common financial standards that support multilateral payment systems if we are to make progress,” writes one payments professional.

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How To Payments Regional System 243

FICO

MAY 16, 2023

Home Blog Feed test FICO and Chelsea Football Club to Raise Financial Literacy in U.S. Strategic partnership between Chelsea FC and FICO aims to make a positive impact on the communities where games are played Tue, 05/16/2023 - 18:46 Saxon Shirley by Nikhil Behl Chief Marketing Officer expand_less Back to top Tue, 05/16/2023 - 18:35 Chelsea Football Club today announced a new partnership with FICO, the world’s leading provider of analytics software, solutions and services.

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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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CB Insights

MAY 16, 2023

Robinhood ’s Q1’23 earnings paint a grim picture of the profitability and growth challenges that retail investing apps and other fintechs face today: Net losses are compounding Active users are at a fraction of previous peaks Transaction-based revenues are up and down from one quarter to the next but aren’t growing over time This is old news to the public markets, as Robinhood’s market capitalization is down 77% compared to its exit valuation at IPO in July 2021.

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CFPB Monitor

MAY 19, 2023

Following recent Senate testimony in which OpenAI CEO Sam Altman proposed additional Congressional oversight for the development of artificial intelligence (AI), Colorado Senator Michael Bennet has re-introduced the Digital Platform Commission Act , a bill that would enable the creation of a federal agency to oversee the use of AI by digital platforms. .

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Colorado Regulation 78

Payments Dive

MAY 19, 2023

“For the dollar to maintain its status, it is important for U.S. elected officials and other policymakers to make decisions that instill confidence in our economy and institutions,” a New York Fed official said Thursday.

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New York 221

FICO

MAY 17, 2023

Home Blog Feed test FICO World 23: Unleashing the Power of FICO Platform Creating next-generation customer experiences Tue, 05/16/2023 - 17:07 Saxon Shirley by Stephanie Covert EVP, Software expand_less Back to top Wed, 05/17/2023 - 16:25 An Engine for Next-generation Customer Experiences FICO World 2023, is an embodiment of the collective vision and dedication of leaders, change agents, and revolutionaries like our clients, who are shaping the future of customer experiences.

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Customer Experience Innovation Trends Strategy 97

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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

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SWBC's LenderHub

MAY 18, 2023

Across the board, the largest asset a financial institution has is its loan portfolio. But each financial institution is unique regarding its business goals and borrower demographics; therefore, finding the right loan risk management program can be elusive. Financial institutions should carefully evaluate their current and future exposures to risk, internal systems and resources, and legal considerations when choosing the right one.

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Risk Management Management Resources System 78

CFPB Monitor

MAY 18, 2023

The Consumer Financial Protection Bureau (CFPB) published a Small Entity Compliance Guide (“Guide”) covering the amendments to the Equal Credit Opportunity Act (ECOA) and Regulation B, which implement requirements of Section 1071 of Dodd-Frank. These amendments require that financial institutions compile and report certain data regarding certain business credit applications, as explained in our blog.

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Compliance Lending Regulation Data 78

Payments Dive

MAY 17, 2023

Global Payments isn’t looking for more acquisitions — except in the B2B space, its outgoing CEO said.

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Payments 273

BankBazaar

MAY 15, 2023

Say hello to Sarita Povaiah our Jedi Master of Product Content Wizardry who flawlessly fuses design, and customer voice into a symphony of awesomeness! With an insatiable curiosity and a zeal to learn, she embarked on her adventure with us in August 2014. She embraced the thrill of setting up a team, learning from her mistakes, and thinking on her toes to fill any gaps that arose.

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US How To Management 78

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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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BankInovation

MAY 19, 2023

The banking landscape is in a state of flux. Emerging financial technology companies have built new services and offerings that place the customer experience front and center, providing a flexibility and speed that traditional banking institutions struggle to match.

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Community Bank Regional Community Customer Experience 85

CFPB Monitor

MAY 18, 2023

Our discussion looks at the role of in-house and outside counsel in the development and launch of new consumer financial products. We first discuss the range of issues to be considered as part of the preliminary scoping process, including state licensing, marketing, underwriting, servicing, and collection issues. We turn next to the process of addressing potential legal obstacles and problems that are identified in scoping, including what consideration should be given to competitors’ approache

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Management Regulation Marketing 78

Payments Dive

MAY 19, 2023

Despite that finding, the company noted an independent auditor’s evaluation of the company’s 2022 financial statements “remains unchanged.

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Company 221

BankBazaar

MAY 13, 2023

You are her world. She takes care of every little thing for you. It’s time to make her feel special this Mother’s Day! It’s that time of the year again! Time to spend some time with the most beautiful woman in your life…your mother! What are you giving her this Mother’s Day? Here are some ideas. A M AZING LADY She does 10 different things at the same time?

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Cards Policies Course Management 78

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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

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