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.
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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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.
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.
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.
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.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Dive
SEPTEMBER 20, 2023
The proposed guidelines are the latest effort by the organization to introduce more industry standards for payments processing.
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.
Payments Dive
SEPTEMBER 20, 2023
The new capability enables cashierless shopping for goods such as clothing, fan gear, hats and shoes.
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
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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? This infographic illustrates automation demands and shows you how loan document automation serves as an essential step to increase profits and provide the best lending exper
Jack Henry
SEPTEMBER 20, 2023
Community and regional banks and credit unions can learn about payments trends in 2023, FedNow, streamlining experiences, reducing fraud and risk, and the future of payments.
CFPB Monitor
SEPTEMBER 20, 2023
The Secretary of Commerce and the other respondents in Loper Bright Enterprises, et al. v. Raimondo have filed their merits brief in the U.S. Supreme Court urging the Court not to overrule its 1984 decision in Chevron, U.S.A., Inc. v. Nat. Res. Def. Council, Inc. The petitioners filed their merits brief on July 17, 2023 and numerous amicus briefs in support of the petitioners have been filed. .
American Banker
SEPTEMBER 20, 2023
More elderly consumers are being diagnosed with Alzheimer's and dementia — making them vulnerable to scammers. Financial institutions are seeking special certifications to better equip themselves to help.
CFPB Monitor
SEPTEMBER 20, 2023
In May 2022, the CFPB issued Circular 2022-3 addressing Equal Credit Opportunity Act (ECOA) adverse action notice requirements in connection with credit decisions based on algorithms. The CFPB is now revisiting the issue in Circular 2023-3. The recent Circular begins with the following question presented: “When using artificial intelligence or complex credit models, may creditors rely on the checklist of reasons provided in CFPB sample forms for adverse action notices even when those sample reas
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In this report, you’ll find a comprehensive analysis of survey responses from executives at banks, credit unions, and insurance companies concerning their organization’s current and future use of automation. The report’s key insights include: Which types of automation are saving organizations the most time and money How to overcome the biggest barriers to automation implementation and adoption Why automation investments will continue to grow over the next few years How much you could save in 202
American Banker
SEPTEMBER 20, 2023
As the United Nations General Assembly convenes in New York to discuss global development, delegates must not overlook the importance of financial services for small businesses in emerging economies.
TheGuardian
SEPTEMBER 20, 2023
Building society’s regular saver for current account holders is one of a growing number paying 6% interest or more Competition among financial firms for a slice of the nation’s savings is intensifying, with Nationwide launching an account paying a “market-leading” 8% interest. A string of Bank of England interest rate rises have pushed up savings rates across the board, and many experts expect another one on Thursday.
American Banker
SEPTEMBER 20, 2023
The African American Credit Union Coalition is working with the Louisiana Credit Union League to promote programs for recruitment and career advancement.
BankInovation
SEPTEMBER 20, 2023
TORONTO — Forty-three percent of the audience identified cybersecurity as the No. 1 risk management concern, according to a poll taken Monday during a risk-management session at the Sibos 2023 event this week.
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Commercial lending is on the verge of a resurgence, but traditional processes are an obstacle. Explore the top 3 reasons for resistance to digital transformation and how overcoming them can pave the way for growth and efficiency. Discover why embracing automation and digital solutions is crucial for success in today's competitive landscape. Discover how GoDocs helps commercial lenders in the digital era with seamless integration and a borrower-focused approach.
American Banker
SEPTEMBER 20, 2023
U.K. regulators rule on complaints about bias from politicians, Brazil's Ebanx extends to India and more in our weekly financial news roundup.
BankInovation
SEPTEMBER 20, 2023
NatWest is deepening its ties with Amazon Web Services to leverage the IT solutions provider’s generative AI capabilities. By the end of 2027, the $886 billion bank aims to use AWS’ generative AI to help nearly 10 million people manage their finances, according to a Sept. 18 NatWest release.
American Banker
SEPTEMBER 20, 2023
The payment company is using a new OpenAI tool to expand its shopping and customer service technology.
BankInovation
SEPTEMBER 20, 2023
Goldman Sachs Group Inc. is in advanced talks to sell its GreenSky unit to a consortium that includes Sixth Street Partners, according to people familiar with the matter. No final decision has been made and discussions could fall through, said the people, who asked to not be identified because the matter isn’t public.
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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. Lenders can anticipate significant transformation fueled by technological advancements, regulatory shifts, and changing consumer behaviors.
American Banker
SEPTEMBER 20, 2023
The banking industry, which has a long history of sponsoring sporting events, is pouring more money into the live-music industry, according to a new report. Music-related events and properties make up 39% of the sector's sponsorship portfolio, up from 25% two years ago.
The Paypers
SEPTEMBER 20, 2023
Sweden-based Froda has announced its partnership with Visa and Checkout.com in order to enable Visa Direct for embedded business loans payouts.
American Banker
SEPTEMBER 20, 2023
Bank executives at the Sibos conference this week discussed how they are using predictive analytics and other technologies, and the fintech partnerships that move them forward.
The Paypers
SEPTEMBER 20, 2023
UK-based biometric authentication tech provider iProov has announced a new integration with Ping Identity ’s Ping One DaVinci system.
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Get ready for the wave of $1.2 trillion in commercial debt maturing in the next 24 months with GoDocs' ModDocs® platform. Traditional loan modifications are slow, expensive, and prone to errors, which put lenders at risk. But with ModDocs®, you can enjoy an innovative solution that eliminates attorney fees, allows on-the-fly loan modifications, and ensures compliance.
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