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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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 530

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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It's the time of year to give our close process some TLC. Join us in this one hour webinar where we discuss how to adopt leading practices and infuse technology into the month-end close process to improve our experience and increase our productivity during month-end and quarter-end close. Learning Objectives: This course's objective is to understand how the month-end close can be improved with automation and adoption of leading practices.

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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 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

Advertiser: ZoomInfo

Incorporating generative AI (gen AI) into your sales process can speed up your wins through improved efficiency, personalized customer interactions, and better informed decision- making. Gen AI is a game changer for busy salespeople and can reduce time-consuming tasks, such as customer research, note-taking, and writing emails, and provide insightful data analysis and recommendations.

Analysis

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 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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Automation is changing the game for commercial lenders, offering a clear path to competitive advantage in 2025. Rising costs, outdated workflows, and manual data entry slow growth and impact borrower satisfaction. Automation addresses these challenges, reducing costs, speeding up loan cycles, improving accuracy, and elevating borrower experiences. With market uncertainty easing, now is the time to act—waiting until loan volumes rebound leaves lenders unprepared and struggling to compete.

Lending

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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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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Remote Deposit Capture (RDC) clients are more likely to use additional treasury services and maintain larger deposits. However, poor customer experiences—particularly if they delay deposits—can compel RDC clients to take their business elsewhere. This eBook makes the case for outsourcing RDC operations to a proven managed services partner. This approach helps Treasury Departments with limited resources provide excellent client experiences that result in higher retention and productivity rates.

Operations

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 124

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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.

Analysis

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 114

Advertiser: ZoomInfo

In today’s ultra-competitive markets, it’s no longer enough to wait for buyers to show obvious signs of interest. Instead, sales teams must be proactive, identifying and acting on nuanced buyer behaviors — often before prospects are fully ready to make a purchase. In this eBook from ZoomInfo & Sell Better, learn 10 actionable ways to use these buyer signals to transform your sales strategy and close deals faster.

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