ABA Community Banking
OCTOBER 2, 2023
Educating consumers about financial literacy is rarely a one-time action. It requires regular and continuous engagement. The post Six ways to combat financial illiteracy appeared first on ABA Banking Journal.
The Financial Brand
OCTOBER 2, 2023
This article A Generative AI Decision-Making Guide for Community Banks and Credit Unions appeared first on The Financial Brand. A tactical approach for financial services leaders as they prepare to implement generative AI and execute their first use case. This article A Generative AI Decision-Making Guide for Community Banks and Credit Unions appeared first on The Financial Brand.
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Payments Dive
OCTOBER 3, 2023
“The narrative often centers around consumer empowerment, but let’s not overlook the advantages it holds” for financial institutions, writes an executive at financial connectivity company Atomic.
South State Correspondent
OCTOBER 4, 2023
In an article last week ( Here ), we discussed how the higher-for-longer interest rate environment will affect the community bank sector. Stable short-term rates for the next year or longer will increase cost of funds (COF), hold yields on loans steady, decrease net interest margin (NIM), and pressure return on equity (ROE) for new credit assets. We argued that community banks must learn to improve performance in a low-growth environment for the foreseeable future.
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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.
The Financial Brand
OCTOBER 4, 2023
This article Community Banks & Credit Unions Revive Personal Lending with Fintech Help appeared first on The Financial Brand. Offering unsecured personal loans and point-of-sale financing is uncommon for community banks and credit unions, but a fintech partnership is making it possible for a growing number of them. This article Community Banks & Credit Unions Revive Personal Lending with Fintech Help appeared first on The Financial Brand.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
The Financial Brand
OCTOBER 4, 2023
This article How to Disrupt the Disrupters in Small Business Banking appeared first on The Financial Brand. For years, Square, Stripe, and PayPal have been disruptors syphoning small business relationships away from banks and credit unions. Now, through a new fintech partnership, institutions are disrupting back. This article How to Disrupt the Disrupters in Small Business Banking appeared first on The Financial Brand.
The Financial Brand
OCTOBER 1, 2023
This article Digital Business Payments Is the Next Frontier for Banks and Fintechs appeared first on The Financial Brand. Enhancing cash management services is not only a revenue opportunity for banks, but a way to fend off the fintechs encroaching on business customers. This article Digital Business Payments Is the Next Frontier for Banks and Fintechs appeared first on The Financial Brand.
Jack Henry
OCTOBER 5, 2023
Falling asset values, deteriorating credit quality, and a reduced tolerance for risk have dimmed new loan appetite for many community banks and credit unions. Effectively assessing borrower and portfolio risk is more important now than ever before, driving everything from relationship and loan pricing to determining the reserves needed to mitigate economic fluctuations.
South State Correspondent
OCTOBER 4, 2023
If you want to grab a material amount of new deposit balance, offer a 5.05% money market rate, post it all over Instagram, and sit back and watch the money roll in. This approach has many problems, the first of which is a negative return on your investment (ROI). You will also end up cannibalizing existing balances, training customers to be rate-sensitive, and training employees, and you will be forced to spend more to keep those customers from walking out the door.
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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
Payments Dive
OCTOBER 5, 2023
The Financial Technology Association is backing a bill that would clarify that loans made through the Small Business Administration’s flagship lending program can be used to pay for fintech services.
Perficient
OCTOBER 5, 2023
Each year, Acquia hosts the esteemed Acquia Engage Awards , recognizing exceptional projects brought to life through their platform and products. The finalists have been announced, and Perficient is proud to have played a pivotal role in three projects that have earned finalist status in their respective categories. Excellence in Governance: Dana- Farber Cancer Institute Leaders of the Pack- Financial Services: UBM Regional Excellence- North America: Mecklenburg County These three projec
CFPB Monitor
OCTOBER 5, 2023
Our special guest is Michael Ostheimer, Senior Consumer Protection Attorney in the FTC’s Division of Advertising Practices. In June 2023, the FTC updated its guides that set forth the FTC’s position on how Section 5 of the FTC Act, which prohibits unfair or deceptive acts or practices, applies to the use of endorsements and testimonials in advertising. .
BankUnderground
OCTOBER 4, 2023
Julia Giese, Michael McLeay, David Aikman and Sujit Kapadia Central banks have been using a range of monetary policy and macroprudential tools to maintain monetary and financial stability. But when should monetary versus macroprudential tools be used and how should they be combined? Our recent paper develops a macroeconomic model to answer these questions.
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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.
Payments Dive
OCTOBER 3, 2023
With the purchase of SpotOn’s sports and entertainment business unit, Shift4 scoops up its rival’s customers in that market.
BankInovation
OCTOBER 3, 2023
Truist Financial is overhauling its digital innovation operations. Bank Automation News has learned that a key bank C-level innovation officer left Truist last week, and the bank shut its Foundry unit, which led the FI’s skunkworks ventures.
Gonzobanker
OCTOBER 6, 2023
Being on a zombie core doesn’t have to end in an apocalypse, as long as you know how to manage the system – and the vendor. I recently heard a banker refer to his institution’s core banking platform as a “zombie core.” They’re not alone; the core system landscape is littered with platforms still in use but with no hope of reanimation. As we know from a variety of movies and TV series, zombie cores can come in different forms: Night of the Living Dead Like the undead in the granddaddy of zo
CFPB Monitor
OCTOBER 4, 2023
A New York federal district court has denied a motion to dismiss the lawsuit filed in January 2022 by the CFPB against three companies that purchase portfolios of defaulted debts (Corporate Defendants) and three individuals who are owners and/or officers of the Corporate Defendants (Individual Defendants). The lawsuit alleges that the Corporate Defendants contracted with debt collectors to collect consumer debts on their behalf either directly or through other debt collectors or sold consumer d
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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
Payments Dive
OCTOBER 2, 2023
California passed a law last week forcing use of a gun merchant code, but other states have done the opposite. Now, maybe Congress will act.
ATM Marketplace
OCTOBER 6, 2023
How can you build an end-to-end customer experience that works for your organization? The closing keynote at the Bank Customer Experience Summit took a closer look at this topic.
Realwired Appraisal Management Blog
OCTOBER 6, 2023
Chief Appraisers are under increasing pressure to demonstrate not only the accuracy and reliability of their valuations but also the efficiency and cost-effectiveness of their operations. One of the tools that is revolutionizing the appraisal industry and offering a tangible return on investment (ROI) is appraisal management software.
TheGuardian
OCTOBER 2, 2023
As author of The Big Short and Moneyball, Michael Lewis is perhaps the most celebrated chronicler of his generation. Now he delivers an astonishing portrait of the fallen crypto billionaire. But did he get too close? Right around the time the gales of the financial crisis were tearing up Wall Street in 2009, Meredith Whitney started her own financial research firm.
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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.
Payments Dive
OCTOBER 6, 2023
Jack Dorsey-led Block is the latest payments company to make staff cuts and pull back on hiring as it pursues profitable growth.
CFPB Monitor
OCTOBER 4, 2023
Yesterday morning, the U.S. Supreme Court held oral argument in Community Financial Services Association of America Ltd. v. Consumer Financial Protection Bureau , a case we have been following closely on Consumer Finance Monitor because of its profound potential implications for the future of the CFPB. In the case, the Court will rule on whether the CFPB’s funding mechanism violates the U.S.
Jack Henry
OCTOBER 4, 2023
Defense-in-depth is important in protecting against cyberthreats, as it provides multiple layers of security that can help prevent an attack. If one layer is breached, others are still in place to protect the system. This approach reduces the risk of a single point of failure and provides redundancy.
ATM Marketplace
OCTOBER 2, 2023
Gen-Z is the new frontier of the consumer landscape and this study and associated reporting was created in order to help brands proactively prepare for a wave of changing buying preferences.
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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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