Payments Dive
MARCH 23, 2022
The restaurant industry has experienced significant labor pressure amid the pandemic, and the pizza chain hopes provider DailyPay will bolster recruitment and retention efforts by helping workers avoid payday bills and overdraft fees.
Accenture
MARCH 21, 2022
There’s a buzz in the payments industry following Apple’s announcement that it will enable “tap on phone” on its devices. Let’s take a closer look at this opportunity and why everyone is talking about it. What is it? Tap on phone instantly turns a merchant’s smartphone or tablet into a contactless point-of-sale (POS) terminal that…. The post Is “tap on phone” the next big thing in payments?
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Perficient
MARCH 22, 2022
With inflation at a 40-year high and the economic ramifications of the COVID-19 pandemic still looming, many people are falling into delinquency, making revamping outdated debt collection practices a higher priority for financial institutions than ever. In their recent webinar, The ROI on Transforming Credit and Lending Customer Outreach , Perficient’s Byron Gifford and Scott Albahary discussed tried and true debt collecting methods, why they’re important, and how financial services institutions
South State Correspondent
MARCH 23, 2022
If your bank struggles to create a clear value proposition and brand differentiation, then we have a case study for you. In December 2021, a Brazilian bank, Nubank, went public in the U.S. and became the most valuable bank in Latin America. Their secret – fanatical customer service. This article looks at how this bank does it and provides a step-by-step breakdown of how you can incorporate their lessons into your bank to create outsized financial performance and differentiate franchise value.
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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.
Payments Dive
MARCH 23, 2022
Hiring and retention are a top challenge for payments companies right now. Here’s what they’re doing to stand out from the crowd and win talent.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Abrigo
MARCH 25, 2022
ALM & measuring long-term interest rate risk Interest rate risk is measured through two approaches. This ALM 101 post describes the value at risk(VAR)/economic value of equity (EVE) risk perspective (long-term risk to market value of capital). It is the third in a series. . Would you like other articles like this in your inbox? Takeaway 1 Interest rate risk for financial institutions is the risk that earnings and market value may decline as market interest rates change. .
South State Correspondent
MARCH 23, 2022
Inverted Curves and Recession Signals. With the yield curve flat as a pancake across its belly, investors are wondering if the near inversion of the curve spells a coming recession. While the 2yr-10yr Treasury spread is still 21bps away from inverting, the trend is definitely going in that direction. While the 2yr – 10yr Treasury spread is probably the most quoted as a recession indicator, it does throw off false signals from time to time.
Payments Dive
MARCH 25, 2022
What you need to know and consider as you set up payment operations for your business.
Jack Henry
MARCH 25, 2022
“Should you treat all of your customers or members the same way?”. I was listening in on a training session for tellers and customer service representatives when the trainer tossed that very question out to the attendees, sparking a lively discussion. “Yes,” came the instant reply. “All of our accountholders deserve top-notch service.”.
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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
CFPB Monitor
MARCH 24, 2022
Equifax, Experian, and TransUnion have announced that effective July 1, 2022, they will no longer include medical debt that was paid after it was sent to collections on consumer credit reports. In addition, the time period before unpaid medical collection debt appears on a credit report will be increased from 6 months to one year. The companies also announced that beginning in 2023, they will only report medical debt when the amount owed is at least $500.
South State Correspondent
MARCH 21, 2022
Last week’s FOMC Meeting resulted in an increase in short-term interest rates by 25 basis points (bps) and projected seven rate hikes in 2022 and another four hikes in 2023. The FOMC projects the Fed Funds rate to reach 1.875% by the end of the year and 2.75% next year (see DOT plot below). However, these published projections may misrepresent the members’ forecasts, and short-term rates may be substantially higher than current thinking.
Payments Dive
MARCH 22, 2022
A U.S. coin shortage subsided for a bit early last year, but the problem is back. That led a group of trade organizations to complain to the Treasury Department this week, and to ask for help in making consumers aware of the coin crisis.
SWBC's LenderHub
MARCH 21, 2022
Last Week. Last week was marked once again by extreme volatility. On Wednesday, we had the Fed FOMC statement and presser. Stocks and credit risk assets were soothed by Chairman Powell’s words that his aggressive inflation fighting monetary policy wouldn’t bring on recession.
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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.
CFPB Monitor
MARCH 21, 2022
Last week, the CFPB published a blog post , stating that it “strongly encourages” mortgage servicers to participate in Homeowner Assistance Fund (HAF) programs. The Bureau asserts that it “remains focused on preventing avoidable foreclosures to the maximum extent possible and expects mortgage servicers to do the same.”. By way of background, HAF is a federal program that provides money to states, tribes, and territories to assist homeowners with housing costs.
South State Correspondent
MARCH 21, 2022
Light Data Week but Heavy on Fed Speak. The week is light on economic data but heavy on more Fed speak. The microphones have already been turned on this morning and Atlanta Fed President Raphael Bostic was first out of the gate with several statements that sent Treasury yields immediately higher. First, he noted the Fed needed to get the funds rate to neutral as fast as possible, and he defined neutral as around 2.25%.
Payments Dive
MARCH 22, 2022
The New York-based company is stockpiling dollars as new and old payments players arrive in the buy now-pay later arena. Consumers are predicted to increase their BNPL spending, but the service also faces regulatory scrutiny.
Bobsguide
MARCH 21, 2022
CompatibL is proud to have been nominated in the following categories in this year’s FTF News Technology Innovation Awards: 5.Best Cloud-Native Computing Initiative: CompatibL Cloud Platform. 12.Best Digital Transformation Solutions Provider: CompatibL. 15.Best Middle-Office Solution: CompatibL Risk Platform. 22.Best Professionals Services Provider: CompatibL. 27.FinTech Person of the Year: Alexander Sokol, CompatibL. 28.Ops Business Person of the Year: Olga Orekhvo, CompatibL. 30.Software Solut
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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
CFPB Monitor
MARCH 23, 2022
The Department of Justice recently entered into a settlement with BayPort Credit Union to resolve allegations that it violated the Servicemembers Civil Relief Act (SCRA) by charging unlawful interest to servicemembers and repossessing vehicles owned by servicemembers without first obtaining the required court orders. As detailed below, the consent order requires BayPort to pay compensation to servicemembers who were charged unlawful interest and whose vehicles were alleged to have been unlawful
BankBazaar
MARCH 21, 2022
There is no one way to gain knowledge. Anyone can tell you that. But are you a believer in it? Or have you made up your mind on ‘things’ being learnt a ‘certain way’? We’re talking about those very things, a little differently, today! Are you a poet and don’t know it? Get it? Get what we did there? This World Poetry Day, let’s awaken the poet in us and learn something we could use – through rhyme!
Payments Dive
MARCH 21, 2022
A report this month from the organization outlines a litany of complaints about buy now-pay later, such as hidden fees, and suggests the industry is trying to evade consumer protection laws.
Gonzobanker
MARCH 23, 2022
Entrepreneurial bankers have a chance to establish themselves as commercial metaverse lenders. Claiming to be the first bank in the metaverse, JPMorgan announced the opening of a “lounge” in Decentraland. Upon entering the lounge—which was established by Onyx, the bank’s blockchain unit—visitors are greeted by a digital portrait of Jamie Dimon (which morphs into the image of the bank’s head of crypto) and a roaming tiger.
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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.
BankUnderground
MARCH 23, 2022
Georgina Green and Bruno Albuquerque. How would you respond to a one-off change in your income? For example, how would you react to someone handing you £500? Throughout the pandemic a large group of UK households were asked this hypothetical question in a survey. Households were also asked for other information, for instance about their debt, savings, and expectations for the future, giving us an opportunity to unpick their responses.
ATM Marketplace
MARCH 22, 2022
Tom Harper, CEO of Networld Media Group and ATMIA's founding director, shares memories of Mike Lee, who is retiring as CEO of ATMIA in June.
Payments Dive
MARCH 25, 2022
Sightline is hiring the big bank after raising significant equity capital last year. Payments processors have unveiled new services as online gambling has increased over the past few years.
SWBC's LenderHub
MARCH 21, 2022
After two years of navigating disruptions to the economy following the COVID-19 pandemic, experiencing historic highs and lows in the labor market, cleaning up a global supply chain mess, and making recovery gains, it would be nice if we could enjoy a period of relative calm.
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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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