South State Correspondent

MAY 13, 2024

By taking a “fusion” approach, banks can combine the record of these events at the bank and customer levels with the money movement and account information. The rule would require disclosure of interest rates and fees on overdraft loans, thus closing the current loophole in overdraft loans from the Truth in Lending Act.

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Conference Payments Fraud Data 195

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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?

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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.

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Generative AI (Artificial Intelligence) is poised to revolutionize the world of business lending. By understanding the impact and possibilities of Generative AI in business lending, banks can stay ahead of the curve and make informed decisions. With Generative AI you get more customization and stronger results.

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Creating a winning digital lending experience requires plenty of focus on the needs of customers and more. Biz2X Chief Product Officer Aaron Traub covers everything from how to create such an experience, areas to hone in on, pitfalls to avoid, and plenty more in this insightful article.

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