Payments Dive

SEPTEMBER 18, 2023

FedNow is driving adoption of instant payments— here’s what financial institutions need to know.

Payments 432

Payments 432

ABA Community Banking

SEPTEMBER 19, 2023

Whether sponsoring large-scale events or supporting local-level initiatives, banks can strengthen their brand presence and attract new customers while demonstrating a genuine commitment to the well-being of their communities. The post Taking your brand on the road appeared first on ABA Banking Journal.

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Branding Community Community Bank Marketing 52

Abrigo

SEPTEMBER 20, 2023

Understanding tax ID fraud FinCrime professionals looking to prevent tax ID fraud, first need to understand the fundamentals of what is happening and their best recourse for prevention. Would you like other articles like this in your inbox? Takeaway 1 Fraudsters file illegitimate tax returns early, hoping people wait to submit their legitimate ones.

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Taxes Fraud Trends Exercises 195

South State Correspondent

SEPTEMBER 18, 2023

The banking industry’s average efficiency ratio worsened for the first time since 2021. The industry’s efficiency ratio increased to 54.30% in Q2/23 from 52.98% in Q1/23. This development is very important to community banks, as their efficiency ratio also increased, but to 61.63%. The national banks have already indicated how they plan to reverse the efficiency ratio increase – through headcount reduction.

Management 195

Management How To Community Bank Community 195

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Groups

American Banker

SEPTEMBER 18, 2023

PayPal's new stablecoin offering should be setting off alarms at traditional banks, because it could seriously challenge their dominance in the payments space.

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System Payments Industry Compliance 90

Accenture

SEPTEMBER 20, 2023

In their first post, “It’s now or never: Time for central banks to embrace change,” my colleagues Rohit Mathew and Oliver Reppel explored why central banks need to transform digitally to ensure they can fulfil their mandate. In this post, they explain how central banks can go about changing the way they use data and… The post Reviving the central bank: Getting (everyone) on the data train appeared first on Accenture Banking Blog.

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Training Data Digital Banking Regulation 510

CFPB Monitor

SEPTEMBER 18, 2023

As readers may recall, California previously attempted to enact a “Digital Financial Assets Law” with the introduction of AB 2269 in February 2022. In relevant part, AB 2269 proposed (1) a stringent licensing requirement for entities engaging in or holding themselves out as being able to engage in “digital financial business activity” with or on behalf of California residents and (2) substantial ongoing reporting and operational obligations, both of which California modeled after New York’s “Bit

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California Operations Report Regulation 78

The Financial Brand

SEPTEMBER 20, 2023

This article Unleashing the Power of Generative AI: 3 Use Cases for Payments appeared first on The Financial Brand. Financial services companies have long used AI to enhance products and combat fraud, but large-language models are a game-changer. This generative AI primer is for payments execs. This article Unleashing the Power of Generative AI: 3 Use Cases for Payments appeared first on The Financial Brand.

Payments 35

Payments Branding Fraud Company 35

South State Correspondent

SEPTEMBER 20, 2023

Not all customers are created equal. Some customers are more profitable than others, and if you are out to build a more profitable bank, it pays to have a tactical plan to go after more profitable customers. The treasury or cash management customer is usually a bank’s most profitable customer on a risk-adjusted basis ( HERE ). In this article, we discuss cash management profitability and rank the most profitable industries for banks to go after.

Management 195

Management Survey Industry Community Bank 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

Perficient

SEPTEMBER 21, 2023

With all the hype around artificial intelligence (AI), AI can feel complicated, distant, or foreign. But guess what? It’s not new news and it doesn’t need to be complicated; it’s just a revolution of how we leverage data! Let’s take a quick dive into the data-driven universe of AI (i.e., intelligence automation). This article breaks down how data powers intelligence automation.

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Data Tools Customer Experience Security 491

Payments Dive

SEPTEMBER 17, 2023

Small business owners envision a cashless future, according to card giant Visa, even as some legislators move to protect unbanked and underbanked consumers.

Payments 488

Payments Cards 488

Abrigo

SEPTEMBER 21, 2023

Internet bank fraud is here to stay; learn how to detect and stop it. Every type of fraud has something unique it leverages to dupe unsuspecting citizens. Learn what is different about internet bank fraud. Would you like other articles like this in your inbox? Takeaway 1 It is important to monitor fraud effectively and consistently. Takeaway 2 Stay informed of trends in mobile fraud as well as internet bank fraud.

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Fraud Software Mobile Online 195

CFPB Monitor

SEPTEMBER 19, 2023

California continues to be at vanguard of data privacy rights. The latest effort by California legislators to protect consumer privacy rights focuses on data brokers, who under the proposed California Senate Bill 362 , aka the “Delete Act,” would be required to recognize and honor opt-out signals from Californians. The law seeks to expand on the deletion and opt-out rights provided under the CCPA, which currently requires a Californians to submit their deletion and opt-out requests on a compa

Data 158

Data California Company Online 158

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Lending

Perficient

SEPTEMBER 19, 2023

The world’s largest gathering of insurance innovation, InsureTech Connect (ITC) , is right around the corner. And our team of industry experts is excited to connect, collaborate, and address the most pressing business needs of national and regional carriers. Following last year’s conference, Perficient Insurance Principal Brian Bell shared three key takeaways from the 2022 event: First, data and analytics investments still topped many insurers’ list of operational priorities.

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Conference Strategy Innovation Industry 221

Payments Dive

SEPTEMBER 18, 2023

Alyssa Henry, CEO of Block’s merchant business Square, will leave the company just days after a service outage left merchant clients unable to process payments.

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Payments Company 482

Abrigo

SEPTEMBER 20, 2023

Insights into budgeting for BSA/AML and fraud software. Take a moment to consider your best-case scenario budget, and what steps bring you closer to what you need. Would you like other articles like this in your inbox? Takeaway 1 It is never too early to plan. Make time to budget for the department you want, not the department you have. Takeaway 2 Take the time to analyze your needs thoroughly.

Software 195

Software Fraud Regulation Training 195

CFPB Monitor

SEPTEMBER 20, 2023

The Connecticut Department of Banking (the “Department”) issued a guidance letter on September 11, 2023 (the “Guidance”) providing its position regarding the amendments to Connecticut’s Small Loan Lending and Related Activities Act (the “Act”) that become effective on October 1, 2023. We previously blogged about these amendments here. The Department issued this guidance “to assist industry participants in evaluating the need for licensure and the effect of the various requirements under [the ame

Connecticut 148

Connecticut Lending Industry 148

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Operations

SWBC's LenderHub

SEPTEMBER 22, 2023

In a vast—and largely digital—lending landscape, big banks and FinTechs often hog most of the financial glory. They’re more visible and have slick advertising that suggests they’re the best and safest bet for a person’s financial future.

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Lending Fintech 147

Payments Dive

SEPTEMBER 20, 2023

Fiserv, Shift4 and rival payments players are vying aggressively for a bigger share of the market catering to pro teams, stadiums and other venues.

Payments 476

Payments Marketing 476

Abrigo

SEPTEMBER 20, 2023

How financial institutions can prevent losses from 1st-party fraud Learn strong approaches to identifying, preventing, and detecting 1st-party fraud that will keep your AML program on top of fraud trends. Join Abrigo for a webinar discussing risk assessments' role in compliance. register now Takeaway 1 1st-party fraud is especially disheartening because it is an inside job and indicates that KYC has been ineffective Takeaway 2 KYC procedures during onboarding and throughout the client relation

Fraud 195

Fraud Cards Trends Software 195

CFPB Monitor

SEPTEMBER 18, 2023

On September 14 th , the Federal District Court for the Eastern District of Kentucky granted the plaintiff’s motion to preliminarily enjoin the CFPB from implementing the Small Business Lending Rule (“Rule”) promulgated under section 1071 of the Consumer Financial Protection Act. As a reminder, the plaintiffs in the Kentucky lawsuit are the Kentucky Bankers Association and several Kentucky banks.

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Kentucky Lending Company Data 143

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Analysis

BankUnderground

SEPTEMBER 22, 2023

Josh Martin and Julian Reynolds How much have higher import prices increased consumer prices in the UK and euro area? This post explores this question using a framework grounded in some fundamental economic and national accounting concepts. Starting with the GDP price, we adjust for relative import and export prices to arrive at a consumer prices measure – this gives us a sense of the impact of import prices and the terms of trade shock on consumer price inflation.

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National Policies Data US 125

Payments Dive

SEPTEMBER 22, 2023

How many companies does it take to process a credit card payment?

Payments 468

Payments Cards Company 468

Abrigo

SEPTEMBER 20, 2023

Understanding AML compliance and regulatory expectations. AML compliance is not for the faint of heart. Understanding and dedication are necessary for success. Here are a few tips to help along the way. Would you like other articles like this in your inbox? Takeaway 1 Understand the risks associated with your customers beyond the surface level. Takeaway 2 Identify concentrations of risk and try to level out potential clusters.

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Compliance Regulation Miami Fraud 150

ATM Marketplace

SEPTEMBER 22, 2023

What is the metaverse good for? A panel at the Interactive Customer Experience Summit debated this topic.

Customer Experience 121

Customer Experience 121

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.

Capital