Abrigo
MAY 10, 2022
Strategies for being a better SAR writer With the volume of SARs law enforcement have to sift through, what can a BSA officer do to stand out? Here are a few techniques that should help. Would you like other articles like this in your inbox? Takeaway 1 You work hard on SARs so make sure you are filling them out fully to get the attention of law enforcement.
South State Correspondent
MAY 9, 2022
The most significant problem with bank innovation is that bankers see or hear about a sexy piece of technology at a conference or at another bank and then acquire it. The new piece of technology ends up solving a known problem but, in the process, creates more problems, and risks, than it solves. It’s called the “Shiny Object Syndrome” (SOS), which could be sowing the seeds of destruction for many banks.
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Accenture
MAY 12, 2022
If there’s one thing the payments industry has learned to expect over the last decade, it’s the unexpected. Even before the pandemic rewrote the rules on customer expectations, industry incumbents were being compelled to innovate by forces such as the advent of new technology like artificial intelligence, disruptive new competitors of all sizes, and shifting….
Payments Dive
MAY 11, 2022
The international bank expects remittances to climb 3.7% to $802 billion this year. That's more than was previously expected and the increase is partly due to the upheaval in Ukraine, the World Bank said.
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Most people dread the nearing of the month-end close and reconciliation process, and who can blame them? It's typically a tedious, long, stressful process; but it doesn't have to be. Implementing automation into your month-end process can significantly reduce this headache by automating up to 40% of your reconciliation and saving nearly 30% of your time spent.
Perficient
MAY 9, 2022
How close are you really to your customers? In this fast-changing consumer environment, staying close to the customer is critical. The relationship and understanding of your customer should be used to drive strategies across the entire organization. . We all get high-level behavioral segmentation studies and marketing personas, but they don’t get us closer to the actual customer.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Accenture
MAY 10, 2022
The Open Banking wave is picking up speed in Canada. The Advisory Committee on Open Banking, in its final report, said an Open Banking system is achievable for the country by January 2023, and the government is moving to make that a reality with its recent announcement of an Open Banking lead. The transition of…. The post Four ways Canadian banks can prep for Open Banking appeared first on Accenture Banking Blog.
Payments Dive
MAY 10, 2022
The firm controlled by the card companies has drafted a new contactless technology standard and it's seeking public comment on the specifications. Their plan is to implement a change by yearend.
Abrigo
MAY 9, 2022
Best Practices for Third-Party BSA/AML Assistance Collaborating with a third-party BSA/AML vendor can save time and money when it comes to sanctions compliance. Would you like other articles like this in your inbox? Takeaway 1 Staffing issues are increasingly named in regulatory consent orders, and inadequate resources can lead to criticism during exams.
South State Correspondent
MAY 11, 2022
April CPI Hotter Than Expected. April CPI disappointed markets with a hotter-than-expected read and that has sent Treasury yields higher once again. The overall rate rose 0.3% for the month which was well off the 1.2% increase in March but a touch higher than the 0.2% expected. The year-over-year rate ticked down to 8.3% vs. 8.5% in March but missed the 8.1% expectation.
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Dive into the complexities of New York lien laws with our comprehensive eBook, 'New York Lien Law Essentials: 5 Key Facts for Commercial Lenders.' In this detailed guide, we explore the critical formalities necessary for lenders navigating ground-up construction and fix-and-flip projects in the New York market. From documentation requirements to the implications of non-compliance, learn how to safeguard your lending position and prioritize legal adherence.
Accenture
MAY 10, 2022
The Great Resignation—which has seen unprecedented numbers of employees quitting their jobs in many leading countries—is creating spine-chilling vacancies in every corner of the corporate world, including commercial banking. What will it take for banks to escape the talent nightmare and attract the staff they need to prepare for a demanding future? One thing is….
Payments Dive
MAY 12, 2022
While first-quarter consumer credit card debt rose relative to the same period last year, it dropped compared to the fourth quarter. Meanwhile, consumers' outlook on the availability of credit deteriorated.
Jack Henry
MAY 10, 2022
Today’s community banks and credit unions face unprecedented challenges in trying to compete with megabanks and bigtechs. To survive and thrive in today’s competitive market, it’s essential to offer accountholders innovative technology solutions without losing the relationship-based service you are known for.
South State Correspondent
MAY 9, 2022
Your bank’s deposit beta is going to rapidly change. In our previous article ( HERE ), we reviewed the banking industry’s cost of funding earning assets (COF), and we compared how community banks’ COF behaves relative to national banks in a rising interest rate cycle. We showed that the average community bank’s COF is highly correlated to short-term interest rates – in the mid 90’s for a correlation coefficient with a 6-month lag.
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In this report, you’ll find a comprehensive analysis of survey responses from executives at banks, credit unions, and insurance companies concerning their organization’s current and future use of automation. The report’s key insights include: Which types of automation are saving organizations the most time and money How to overcome the biggest barriers to automation implementation and adoption Why automation investments will continue to grow over the next few years How much you could save in 202
Accenture
MAY 9, 2022
I cannot overstate the benefits of a modern core system—including flexibility, growth, new revenue pools and cost reduction—or the downsides of not having one. Without a modern technology stack, auto and equipment finance companies: Waste time on repetitive manual tasks that are prone to error. Lack the ability to easily add new products and services….
Payments Dive
MAY 11, 2022
Austin Mac Nab, the CEO and cofounder of Waukee, Iowa-based payments processing firm VizyPay, said the company aims to disrupt the payments landscape by catering to small town businesses.
SWBC's LenderHub
MAY 9, 2022
In the recent Supreme Court case of Hughes vs. Northwestern University, current and former plan participants in two of the university’s retirement plans claimed that the academic institution was in breach of its fiduciary duty.
South State Correspondent
MAY 9, 2022
The Beatings Will Continue. It’s a new week but the market seems to be in the same frame of mind when we left off last week and that is selling early and often. The 10yr yield reached a high of 3.20% in early trading today as April CPI looms on Wednesday as does another series of Treasury auctions during the week that will need to be put away. The previous cycle peak of 3.26% (hit on October 9, 2018) stands as the next obvious target of sellers.
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As we step into 2024, the lending landscape evolves rapidly with technology, regulations, and market dynamics driving change. For banks and financial institutions to stay competitive and meet the evolving needs of their customers, these drivers must be understood and engaged with. Lenders can anticipate significant transformation fueled by technological advancements, regulatory shifts, and changing consumer behaviors.
Bobsguide
MAY 8, 2022
Cloud has moved from leading edge to the baseline of banking success. A recent GFT survey revealed that 95% of banks adopt cloud to improve time to market, while 86% of them do it to improve innovation and scalability. Although these objectives might seem ambitious, they are achievable if the transition to cloud is regarded as an opportunity to re-imagine systems and applications.
Payments Dive
MAY 10, 2022
The technology company, which currently partners with convenience stores, cafeterias, hospitals and sports arenas, said it will use the investment to build out its team, quicken expansion and scale globally.
CFPB Monitor
MAY 9, 2022
The Federal Trade Commission issued two notices this week concerning the Telemarketing Sales Rule (TSR)—an advance notice of proposed rulemaking (ANPR) and a notice of proposed rulemaking (NPR). Both notices address the TSR’s exemption of business-to-business (B2B) telemarketing calls. The FTC issued the new notices following its review of comments received in response to the regulatory review of the TSR it initiated in 2014.
SWBC's LenderHub
MAY 9, 2022
Last Week. In the 1990 NFC Championship Game, the New York Giants faced off against the San Francisco 49ers. Back in an era for the NFL where defensive players could do just about anything they wanted, a 275-pound freight train by the name of Leonard Marshall drove his helmet straight into the back of 49er quarterback Joe Montana. Montana could barely walk as he was helped off the field.
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.
Bobsguide
MAY 10, 2022
Why Australia Benchmark Report 2022 released. Australia’s health and economic response to COVID-19 has put its recovery among the world’s leading nations, according to new analysis of global data. The Why Australia Benchmark Report 2022 shows that Australia is recovering well from COVID-19, highlighting its attractiveness as a destination for global investment and trade.
Payments Dive
MAY 10, 2022
Compensation for Michael Miebach, who was the card company's chief product officer and president before he became CEO last year, climbed 75% to $16.1 million for 2021 after he took Mastercard's top post.
CFPB Monitor
MAY 12, 2022
Yesterday, the U.S. Senate confirmed Alvaro Bedoya to serve as an FTC Commissioner . Mr. Bedoya fills the seat on the Commission previously held by CFPB Director Rohit Chopra. He joins the two other Democratic FTC Commissioners, Lina Khan, Chair of the Commission, and Rebecca Slaughter, thereby ending a 2-2 split and restoring a 3-2 Democratic majority.
Cisco
MAY 10, 2022
We’re ALL IN at Cisco Live 2022. We’re excited for the in-person creative experiences, impactful speakers, and thought-provoking sessions June 12-16, 2022 in Las Vegas. Join us for our thousands of engaging business and technology sessions. Cisco Live delivers education and inspiration to technology innovators worldwide through large-scale in-person and digital events, as well as on-demand education.
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Now is the time for lenders to prioritize their digital transformation initiatives in preparation for the lending rebound. Rising competition and ever-increasing customer demands for speed and efficiency are forcing financial institutions to embrace digital transformation. This shift can feel overwhelming—where do you begin? This infographic illustrates automation demands and shows you how loan document automation serves as an essential step to increase profits and provide the best lending exper
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