Payments Dive

MARCH 16, 2022

In the next few weeks, the two U.S. automated payments systems are set to increase the speed with which $1 million can be sent between two parties.

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System Payments 243

Digital Growth Institute

MARCH 17, 2022

“ The moment you say you’re a fast follower, what you’re really saying is you plan to be behind. ” -Joel Swanson. Fintechs are a risky that many financial brands won't take. They are comfortable staying in the Cave of Complacency where it familiar and safe. But many fintechs are actually looking to partner with community banks and other financial brands to create new opportunities and provide better experiences and services.

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Fintech Community Bank Branding Community 15

Accenture

MARCH 14, 2022

It’s important but not critical. That’s been the dominant narrative around sustainability. Until now, that is. There seems to be a definite shift to changing this narrative, a shift that could be worth trillions of dollars to the banking industry. In 2007, Google famously became the first major company to be carbon neutral. According to…. The post Shift to green could be worth trillions for banks appeared first on Accenture Banking Blog.

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Google Industry Company Risk Management 543

Perficient

MARCH 15, 2022

The Office of the Comptroller of the Currency (OCC) has released 11 Community Reinvestment Act (CRA) performance evaluations. These evaluations are based upon on-site examinations performed by OCC-trained staff that are conducted every other year, and they assess an institution’s performance in helping to meet the specific credit needs of the communities they serve.

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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

MARCH 16, 2022

Each generation has approached credit differently; Gen Z is no exception. As they turn toward credit cards, industry analysts say these consumers are likely to keep card companies on their toes.

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Cards Industry Company 481

Accenture

MARCH 16, 2022

There are times when you have to break something apart in order to make it better. For banks, it’s time to break down the traditional value chain and replace it with a more future-friendly set of business models. Until now, the value chain in banking has relied on a vertically integrated business model. But in…. The post Bold banks can grow by shattering the value chain appeared first on Accenture Banking Blog.

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South State Correspondent

MARCH 16, 2022

Fed Begins Rate Hikes. More to Come. As expected, the Fed raised the overnight target rate 25bps to 0.25% – 0.50%. The updated Dot Plot now shows a total of seven 25bps hikes in 2022, including today’s, and another three hikes in 2023 reaching 2.75%. The longer-run fed funds terminal rate is forecast to be 2.4%, reached in 2024. There was speculation that the terminal rate would be raised in recognition of the generationally high inflation numbers but it essentially remained unchanged (see

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Payments Dive

MARCH 14, 2022

In a rare TV appearance, the director of the Consumer Financial Protection Bureau said that the payments industry isn't competitive enough and that fee hikes by the big card companies would add "insult to injury" at a time of inflation. He noted new fintech tools could ultimately be a benefit if they add competition.

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Cards Tools Fintech Industry 435

Abrigo

MARCH 14, 2022

Loan administration is a critical element for the safety and soundness of an institution. While the sophistication of loan administration software will depend on the size of the institution and the complexity of its portfolio, some functions should be integrated: 1. Accessibility of data for loan officers, managers and potentially external loan review personnel.

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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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Accenture

MARCH 14, 2022

Credit card receivables & purchase volume YoY growth: 4Q21 Earnings call commentary Growth “Consumer activity remains strong with credit sales up in the Q4 YoY. Our beauty and jewelry verticals remain the frontliners with holiday sales up more than 30% in each category. We saw particular improvement among millennials and Gen Z with spending and transaction activity during the….

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Millennials Cards Payments 195

South State Correspondent

MARCH 16, 2022

If banking had an Olympics, creating loan value would be an event. The recent Fed meeting, with its hawkish tone, makes the sport of loan value creation even more important. While many lenders are good at gathering new business, they may lack the experience to create optimal mutual value. To make it into the podium, bankers must not only understand how to work with structural components but how to position them for the most efficient application of the creation of value.

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Payments Dive

MARCH 16, 2022

A new survey from one equity analyst suggests installment financing from the buy now-pay later company Affirm has appeal for rich and poor alike. "The demand for our service is going up because consumers are trying to ration their money,” Affirm CEO Max Levchin told CNBC.

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Abrigo

MARCH 15, 2022

Offering Digital Consumer and Commercial Accounts Benefits Financial Institutions Banks and credit unions that enable online/digital account opening win new customers and members and retain existing ones. . Would you like other articles like this in your inbox? Takeaway 1 Many financial institutions are adding or improving online or digital account opening capabilities. .

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Online Lending Survey Digital Banking 195

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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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SWBC's LenderHub

MARCH 17, 2022

At Wednesday’s Post-FOMC press conference, Chairman Jerome Powell made the following statement: “As I looked around the table at today’s meeting, I saw a committee that’s acutely aware of the need to return the economy to price stability and determined to use our tools to do exactly that. The American economy is very strong and well-positioned to handle tighter monetary policy.”.

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South State Correspondent

MARCH 16, 2022

Countdown to Rate Liftoff Begins. The March FOMC meeting concludes this afternoon with a 25bps rate hike a foregone conclusion. As we mentioned on Monday, the real focus for investors will be in the forecast for further rate hikes this year, and the updated economic forecast with inflation and GDP key items of interest in the wake of the war in Ukraine.

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Retail Meeting Trends Marketing 195

Payments Dive

MARCH 18, 2022

The industry might not be experiencing a major uptick in cyberattacks as a result of Russia's war on Ukraine, but that doesn't mean it shouldn't be on high alert, cybersecurity professionals say.

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Industry Payments 370

BankBazaar

MARCH 18, 2022

It is now time to forge a new path forward with your finances. Although budgeting may not have worked for you earlier, colour-coding your budget is your new budgeting lifesaver! . Let’s start! Let’s work on creating your monthly budget. Whoa, wait! Did you just roll your eyes, or did you snort with derision? We get it. For many, trying different budget management methods has either not worked or they just despise the many restrictions that come along with it. .

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Management Security Groups US 147

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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

SWBC's LenderHub

MARCH 14, 2022

Last Week. Last week was marked, once again, by extreme volatility. The violence of Russia’s war in Ukraine intensified while sanctions against Russia and its major industries continued to ramp up.

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South State Correspondent

MARCH 14, 2022

Community banks have solid competitive advantages when competing against insurance companies (primarily life insurance companies or “Lifecos”) and commercial real estate securitization conduit lenders (CMBS) for commercial borrowers. Unfortunately, some bankers are not positioning their services correctly to explain why borrowers should do business with their community bank.

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Payments Dive

MARCH 15, 2022

As payments technology evolves, the use of biometrics is poised to take off. Software firm PopID is seeking to raise about $50 million in capital to scale its face verification services for payments applications in the U.S. and abroad.

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Software Capital Technology Payments 370

ATM Marketplace

MARCH 15, 2022

Last time we looked at some critical ATM security issues such as software vulnerabilities, jackpotting, physical key issues and more. But how does one address such issues?

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ATM Security Software 123

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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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Cisco

MARCH 15, 2022

Leaders and organizations embarking on any digital initiative need to ensure that experience monitoring is a cornerstone of their strategy. A leading Financial Services company headquartered in Asia found this to be true. With about 30,000 staff and operations spread across several countries in multiple continents, moving to remote work posed new and unexpected network and infrastructure visibility issues for them.

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South State Correspondent

MARCH 14, 2022

Investors Await Wednesday’s FOMC Meeting. The FOMC meeting that concludes on Wednesday afternoon has the market’s attention, even though a 25bps rate hike is a foregone conclusion. The real focus for investors will be in the forecast for further rate hikes this year, and the updated economic forecast with inflation and GDP key items of interest in the wake of the war in Ukraine.

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Meeting Michigan Retail Training 195

Payments Dive

MARCH 17, 2022

The share of consumers planning to use mobile phones to pay their taxes increased over last year, while the portion preferring to pay by check declined, according to a survey from payments firm ACI Worldwide.

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Taxes Survey Mobile Payments 361

ATM Marketplace

MARCH 18, 2022

Over the past few years, there has been a lot of confusion about EMV — what is it, why do you need it, and what will happen if your card readers don't accept EMV transactions. So, what is EMV and why is it essential as we look towards the future of payments?

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Cards Payments 113

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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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