Perficient

MARCH 27, 2023

At sea level, one US liquid pint of water weighs 1.04318 pounds (16.6909 oz), which gives rise to a popular saying: “A pint’s a pound, the world around.” While the recent bank failures of Silicon Valley Bank and Signature Bank have many US congressmen and citizens wondering about the future of cryptocurrencies, across the pond, the Bank of England is soliciting input into the possibilities of issuing a digital pound.

US 294

US Management Innovation Technology 294

Payments Dive

MARCH 28, 2023

Global credit card transaction value rose both online and in stores last year, despite an earlier FIS projection of a decline.

Cards 448

Cards Report Online 448

South State Correspondent

MARCH 28, 2023

In a recent article ( here ), we discussed why banks that take risks to earn higher revenue demonstrate lower performance as measured by ROA. Empirical evidence, historical bank failures, and common sense teach us that many risks do not translate to higher yields. While in that blog, we specifically considered the risk-return tradeoff for credit risk; in a future article, we’ll consider interest rate risk.

Community Bank 195

Community Bank Community Management Marketing 195

Accenture

MARCH 27, 2023

Having pulled through the Covid pandemic, the unravelling of international supply chains and a global energy crunch, commercial banks must now grapple with a spike in interest rates and the collapse of some high-profile peer institutions. Rarely have I seen the banking industry in such flux and uncertainty. How should banks respond? My advice: Pause… The post Commercial banks must now focus on fundamentals appeared first on Accenture Banking Blog.

Industry 498

Industry Banking Trends Trends 498

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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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Jeff For Banks

MARCH 27, 2023

The critical fact contributing to the Silicon Valley Bank and Signature Bank's demise was the level of uninsured deposits at each institution, estimated to be at 94% and 90% respectively. Many community bankers received concerned calls after the bloody weekend of March 10th through 12th from depositors that had deposits that exceeded the FDIC insured limits.

FDIC 78

FDIC Community Data 78

Payments Dive

MARCH 27, 2023

The private label digital credit card company is stacking up online retail customers, with plans to add debit options and in-store clients this year.

Retail 459

Retail Cards Online Company 459

Abrigo

MARCH 31, 2023

NCUA expectations for credit unions post-CECL adoption The NCUA's focus on risk, especially credit risk, has implications for credit unions instituting CECL this quarter. You might also like this webinar: "CECL implementation FAQs: Progress as 2023 approaches" listen Takeaway 1 The National Credit Union Administration emphasized interest rate, liquidity, and credit risk as main concerns.

Risk Management 195

Risk Management Policies Capital Maine 195

South State Correspondent

MARCH 30, 2023

In the quest for deposits, one successful tactic at top-performing banks is to target the right types of customers. While desiring to bank everyone in your community is noble, it can be a poor use of resources. Some customers offer better returns because they use more banking services and have more deposit balances. Not to say you want to ignore parts of your community, but why not focus more of your resources on those industries that will make your bank more profitable?

Industry 195

Industry Resources Community Case Study 195

Perficient

MARCH 30, 2023

Captain/Trader Kirk is on the bridge making multiple trades in multiple asset classes with his Klingon counterparty. Spock is in the middle office, reviewing trades, and determining that they’re entirely logical, Captain. Meanwhile, with both normal and extended settlement, initial and variation margins flow in and out of the bank as if the cash was on the Transporter that search parties used to go down and return to planets in Star Trek.

Operations 275

Operations blockchain Capital Security 275

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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

MARCH 30, 2023

The Jack Dorsey-led digital payments company pushed back by underscoring fraud mitigation tactics and account metrics for its Cash App business.

Fraud 423

Fraud Payments Company 423

Abrigo

MARCH 30, 2023

P2P fraud can be difficult to detect Knowing how criminals avoid detection can help minimize losses at your financial institution. Would you like other articles like this in your inbox? This article was written by Olivia Boyer, CAMS & Joann Millard, CAMS, of Abrigo Advisory Takeaway 1 P2P payments move from one individual account to another digitally, and they are becoming more commonplace.

Fraud 195

Fraud Trends Payments Cards 195

CFPB Monitor

MARCH 30, 2023

Earlier this week, the U.S. Supreme Court agreed to hear a case in which the question presented is whether an Americans with Disabilities Act (ADA) “tester” has Article III standing to challenge a place of public accommodation’s failure to provide disability accessibility information on its website, even if she lacked any intention of visiting that place of public accommodation. .

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146

Perficient

MARCH 28, 2023

Readers of a certain age will remember when Maverick, played by Tom Cruise, in Top Gun told Goose that it was time to“Buzz the Tower,” which meant the fighter pilots had to execute a low fly-by passing very close to the control tower at high speeds. The officer spilled his coffee over himself because of the maneuver, adding to the comedic humor. What is a Supply Chain Control Tower?

Analytics 275

Analytics Management Technology Tools 275

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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.

Lending

Payments Dive

MARCH 29, 2023

The tech giant delivered an initial version of its long-awaited buy now, pay later service for select U.S. users, with plans for a broader launch later this year.

Apple 360

Apple 360

BankBazaar

MARCH 28, 2023

R epo rate, w e think we know all about it , but not enough. So, here’s us shining a light or rather charging a flamethrower on some very interestin g facts about it. We know a lot about the Reserve Bank of India (RBI). Yes, the big brother of all, the money-minter, the ‘Don Corleone’ of banking institutions in the country, or whatever hype definition that hits you first time.

Policies 145

Policies Security Meeting Strategy 145

CFPB Monitor

MARCH 30, 2023

On March 23, 2023, the Federal Trade Commission (“FTC” or “Commission”) issued a Notice of Proposed Rule Making (“NPRM”) seeking comment on proposed amendments to the Commission’s Negative Option Rule. The proposed amendments, which would expand the scope of the rule’s coverage to all forms of negative option marketing and consolidate various requirements dispersed across various statutes and regulations, include a “click to cancel” provision which would require a simple cancellation mechanism

Regulation 142

Regulation Marketing 142

ATM Marketplace

MARCH 28, 2023

There are many conflicting reports about why SVB fell apart and what it means for consumers in general. To gain insight into what actually happened, and how consumers should react, ATM Marketplace reached out to Ann Kaplan, founder of iFinance.

ATM 112

ATM Report 112

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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

MARCH 28, 2023

Offering the payment option will reduce accessibility barriers to getting groceries, as well as boost convenience for SNAP users, DoorDash said.

Online 366

Online Payments 366

BankInovation

MARCH 30, 2023

When ChatGPT seemingly burst on the scene late last year, everyone from college students to CEOs took notice. For financial institutions, ChatGPT is just one tool in their digital transformation toolkit.

Tools 98

Tools Digital Banking Customer Experience Retail 98

CFPB Monitor

MARCH 29, 2023

On March 23, 2023, the CFPB filed a complaint and proposed judgment against Portfolio Recovery Associates, LLC (“PRA”), one of the largest debt collectors in the United States. If entered by the court, the proposed judgment would require PRA to pay $12.18 million to allegedly harmed consumers and $12 million to the CFPB as a civil penalty.

United States 130

United States 130

ATM Marketplace

MARCH 31, 2023

The remittance market is massive, valued at nearly $630 billion in 2022. Here's how mobile wallets and ATMs are playing a role in this space.

ATM 114

ATM Mobile Marketing 114

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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

Payments Dive

MARCH 27, 2023

The lack of BNPL data being furnished to credit bureaus more than a year after inclusion efforts were announced points to the complexity involved with fitting the burgeoning payment method into the traditional credit scoring framework.

Maine 300

Maine Data Payments 300

BankInovation

MARCH 31, 2023

Syndicated loan platform Versana raised $40 million from U.S. Bank, Deutsche Bank, Morgan Stanley and Wells Fargo — which are also the platform’s latest clients.

Fintech 97

Fintech America Data US 97

TheGuardian

MARCH 27, 2023

Higher interest rates and cuts in lending could pile pressure on commercial property sector after hit from hybrid working The new central London headquarters of the property company CBRE could easily be mistaken for a hotel, given its open lounges with comfy seating, potted plants, coffee and tech bars and library. In the post-pandemic property world, phrases such as “hotelification” and “earning the commute” have become commonplace among executives trying to lure back workers used to working fr

Lending 94

Lending Company 94

CFPB Monitor

MARCH 30, 2023

The Consumer Financial Protection Bureau has issued its long-awaited final rule to implement Section 1071 of the Dodd-Frank Act. Section 1071 amended the Equal Credit Opportunity Act to require financial institutions to collect and report certain data in connection with credit applications made by small businesses, including women- or minority-owned small businesses.

Data 78

Data Report 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

Community Bank