Sat.Oct 28, 2023 - Fri.Nov 03, 2023

article thumbnail

3 Ideas for Your Deposit Strategy

Jeff For Banks

The 2022-23 Fed monetary tightening caused disruption to our depositor base. We either lost deposits to Treasuries, money market mutual funds, or disintermediated into higher cost deposits within our bank. In this video short, I suggest three ideas to improve your deposit strategy as follows: 1. Identify "dead money" in your depositor base and pro-actively deepen your relationship with them. 2.

article thumbnail

The Top 5 Major Advances in the Future of Banking, Financial Services, and Insurance (BFSI) Industry

Perficient

Intelligent automation and generative AI can unlock tremendous value for financial services leaders who want to optimize experiences and reduce costs. Perficient was honored to participate in the inaugural Banking, Financial Services, and Insurance (BFSI) event hosted by Kofax. With more than 50 financial services and insurance professionals in attendance, this event showcased the industry’s unwavering commitment to practical innovation.

Industry 251
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Don’t Make These Mistakes When Issuing a Loan Proposal Letter

South State Correspondent

Last week, we discussed how and why commercial lenders use a bank loan proposal letter (aka commitment letters) to their advantage ( HERE ). We argued that a proper strategy and a well-crafted loan proposal letter could help lenders close loans quicker, eliminate more competitors, secure better pricing, and obtain the desired credit structure. In this article, we discuss the top four mistakes that we see in commitment/proposal letters.

Strategy 195
article thumbnail

Payments players react to debit cap cut

Payments Dive

The CEOs of Mastercard and Global Payments chimed in with opposing views of the Federal Reserve Board’s proposal to lower the cap on debit interchange.

Payments 459
article thumbnail

Back to Basics with Reconciliations

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.

article thumbnail

How credit unions are lowering the risk of lending to new college grads

American Banker

In a pilot it rolled out this year, Nashville-based Vanderbilt Credit Union will lend graduates up to $160,000 if they have a job offer sheet in hand.

More Trending

article thumbnail

This week’s podcast episode: The U.S. Supreme Court’s decision in Community Financial Services Association of America Ltd. v. Consumer Financial Protection Bureau: Who will win and what does it mean?  Part II

CFPB Monitor

On October 3, 2023, the U.S. Supreme Court held oral argument in CFSA v. CFPB , a case with profound potential implications for the future of the CFPB. The Court will rule on whether the CFPB’s funding mechanism violates the U.S. Constitution’s Appropriations Clause and, if so, what the appropriate remedy should be. .

America 78
article thumbnail

AI, black boxes and bias: The impact of the White House's executive order

American Banker

The president directed government agencies to frame new rules on protecting privacy and security, preventing intellectual property theft, reducing bias and more in banks' use of AI models.

article thumbnail

Consumers expect to use fewer digital wallets: report

Payments Dive

As more merchants accept digital payments for in-store purchases, consumers are moving away from using multiple, single-use payment apps, McKinsey Senior Partner Marie-Claude Nadeau said.

Report 434
article thumbnail

Non-bank financial institutions must report data security breaches: FTC

Payments Dive

The amendment to the FTC’s Safeguards Rule would require non-banking financial institutions to report when they discover information impacting at least 500 people has been accessed without authorization.

Report 221
article thumbnail

How a Managed Services Partner Can Reduce the Friction in Your RDC Program

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

article thumbnail

EU future-proofs its payments and Open Banking ecosystem with PSD

Accenture

PSD2 helped drive electronic payment and data-sharing volumes while enhancing security. So why is the EU proposing to enhance it with the new Payment Services Directive 3 (PSD3) and Payment Services Regulations (PSR) package, and what does this entail? 1) Gaps in the regulatory application of PSD2. The new framework will create a consistent regulatory environment… The post EU future-proofs its payments and Open Banking ecosystem with PSD appeared first on Accenture Banking Blog.

Payments 500
article thumbnail

Perficient Included in Forrester’s Application Modernization And Migration Services Landscape

Perficient

In today’s world, enterprises must put an emphasis on their cloud transformation, or they’ll be left behind. To have success, organizations must adopt cloud in concert with business vision to deliver digital initiatives and strategic goals. One of the leading drivers of digital transformation is application modernization and migration, but unfortunately, not everyone has the internal resources to champion these efforts on their own.

Report 221
article thumbnail

CECL best practices: Ongoing management of the allowance model

Abrigo

Top 5 CECL best practices and their benefits Now that CECL is implemented, follow these recommendations for ongoing management to provide confidence and be more efficient. You might also like this webinar, "Conquering CECL model validation: Prepare for success." WATCH Takeaway 1 How can you ensure ongoing compliance and efficient management of the allowance for credit losses?

article thumbnail

Block to shrink workforce

Payments Dive

The company plans to cut about 8% of its workforce over the next year as Jack Dorsey steps up his efforts to improve efficiency and revive profits.

Company 534
article thumbnail

Budget Playbook for Commercial Lenders — Bank and Credit Union Edition

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.

article thumbnail

The Four Pillars of Smarter Bank Leadership

Gonzobanker

Financial institutions standing in 2030 will have completed a significant and gut-wrenching transformation of their leadership talent. Every year, digitization further rattles the relevancy of the traditional hierarchical banking organization. In the throes of managing balance sheets and loan portfolios and at the same time executing daily “run the bank” operations, bankers are faced with the need to continuously develop new customer experiences and scale enterprise capabilities.

article thumbnail

Texas federal district court issues preliminary injunction enjoining CFPB from implementing and enforcing small business lending rule on nationwide basis against all covered entities

CFPB Monitor

The Texas federal district court hearing the lawsuit challenging the validity of the CFPB’s final rule implementing Section 1071 of the Dodd-Frank Act (Rule) has issued an order that preliminarily enjoins the CFPB from implementing and enforcing the Rule on a nationwide basis against all entities covered by the Rule. On July 31, the court had denied the request of the plaintiffs in the lawsuit for nationwide preliminary relief and instead issued an order that granted preliminary relief only to

Texas 146
article thumbnail

Benefits of a Multilingual Digital Banking System

Jack Henry

The benefits of a multilingual digital banking system go far beyond expanding a Financial Institution’s customer base. Click to learn more.

article thumbnail

PayPal discloses SEC, CFPB probes

Payments Dive

The digital payments company said it’s cooperating with a Securities and Exchange Commission probe of its stablecoin, and a Consumer Financial Protection Bureau inquiry related to bank transfers.

Security 435
article thumbnail

Is Your Current Card Platform Holding You Back?

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

article thumbnail

What's new in branch design?

ATM Marketplace

Digital banking is important, but branches also have a role to play. A panel at the Bank Customer Experience Summit in Charlotte, North Carolina took a look at what's new in branch design.

article thumbnail

Federal Reserve Considering Lowering Debit Card Interchange Fee Caps

CFPB Monitor

As we previously blogged , the Board of Governors of the Federal Reserve (the “Board”) held an open meeting on October 25, 2023 to discuss the debit card interchange fee cap. The debit card interchange fee cap was part of the so-called “Durbin Amendment” to the Dodd-Frank Act, which required the Board to promulgate a regulation applicable to banks having more than $10 billion in assets establishing maximum debit card interchange fees that are “reasonable and proportional to the actual cost” of p

Cards 117
article thumbnail

Podcast: Building trust by bringing the bank into the workplace

ABA Community Banking

"When we're able to take banking the them, at a place where they already have trust with their employer, that's a bridge," says Jennifer Huffman of Atlantic Union Bank's workplace banking product. "From there we're able to grow that relationship." The post Podcast: Building trust by bringing the bank into the workplace appeared first on ABA Banking Journal.

Resources 105
article thumbnail

Treasury Prime creates instant payment rail

Payments Dive

The new payment rail allows fintech clients to move money between banks in milliseconds, the software company’s CEO said in an interview.

Payments 437
article thumbnail

It Takes Two to Tango

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.

article thumbnail

Schwarzenegger’s Wisdom: Elevating Appraisers

Realwired Appraisal Management Blog

If you know your potential exceeds your current results, take pause. Be Useful: Seven Tools for Life by Arnold Schwarzenegger provides a roadmap to improve our personal and professional lives. “Be hungry for success, hungry to make your mark, hungry to be seen and to be heard and to have an effect.

Tools 105
article thumbnail

Banks pumped more than $150bn in to companies running ‘carbon bomb’ projects in 2022

TheGuardian

Exclusive: Projects that risk 1.5C heating target operated by companies receiving financing from European, Chinese and US banks Banks pumped more than $150bn last year into companies whose giant “carbon bomb” projects could destroy the last chance of stopping the planet heating to dangerous levels, the Guardian can reveal. The carbon bombs – 425 extraction projects that can each pump more than one gigaton of carbon dioxide into the atmosphere – cumulatively hold enough coal, oil and gas to burn

Company 111
article thumbnail

California Court Denies DFPI’s Motion for Preliminary Injunction Against OppFi

CFPB Monitor

On November 30, 2023 at 12:30 PM, ET, Ballard Spahr will hold a webinar entitled “Recent Important Developments in Federal Preemption for National and State Banks: What They Mean for Bank and Nonbank Consumer Financial Services Providers” during which this case will be dissected. In a lengthy (65-page) order , the California Superior Court in Los Angeles has issued an extremely important decision upholding the legitimacy of bank-model online lending by denying a motion for preliminary injunction

article thumbnail

PayPal’s new CEO promises improvements

Payments Dive

Alex Chriss, who took the top post in September, tapped a new chief financial officer Wednesday and pledged to better focus the digital payment company's strategy.

Strategy 389
article thumbnail

3 Ways Managed Device Services Help Community Banks Cut Costs

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