ABA Community Banking
SEPTEMBER 11, 2023
As CEO of First United Bank and Trust, ABA Treasurer Carissa Rodeheaver views personal relationships as the core business strength of the institution. The post Stressing ‘community’ in community banking appeared first on ABA Banking Journal.
The Financial Brand
SEPTEMBER 14, 2023
This article Community Banks Are Missing Out on the Value of Social Media appeared first on The Financial Brand. Nearly 9 in 10 community and regional banks are active on social media, but they lag on using it for sales. Meanwhile, examiners are keeping tabs. This article Community Banks Are Missing Out on the Value of Social Media appeared first on The Financial Brand.
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American Banker
SEPTEMBER 13, 2023
Lenders either write down portions of soured credits or charge them off altogether to remove them from their balance sheets. Banks also set aside reserves to cover potential future bad loans. This allowance creates a buffer for lenders to absorb losses.
Payments Dive
SEPTEMBER 13, 2023
Fed officials are on a campaign to increase adoption of the new instant payments system, noting it may have implications for other Fed services.
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.
Gonzobanker
SEPTEMBER 14, 2023
In a country with thousands of options, the challenge for a bank to stand out is mighty and existential at its core. Saddle up, GonzoBankers. We’re gearing up for Smarter Bank LIVE , and your 325+ RSVP responses to our upcoming online event make one thing clear: You want your bank to become more than the branch next door. In a risk-averse industry, it isn’t an easy task to try the unknown, especially at a time when profits are under attack.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
American Banker
SEPTEMBER 11, 2023
Amid concerns that the combination of the National Association of Federally-Insured Credit Unions and the Credit Union National Association could amplify the voices of only the biggest institutions, the heads of smaller ones see two clear advantages: cost and consistency.
The Financial Brand
SEPTEMBER 14, 2023
This article Why Banks & Credit Unions Are Fans of Naming-Rights Deals with Colleges appeared first on The Financial Brand. Looking for a unique way to boost brand recognition and attract Gen Z? Here's some insight on getting the naming rights to a college stadium. This article Why Banks & Credit Unions Are Fans of Naming-Rights Deals with Colleges appeared first on The Financial Brand.
Accenture
SEPTEMBER 15, 2023
The years-long ISO 20022 journey has achieved a major milestone this year: it is now being used for cross-border payments. The new standard successfully launched globally in March 2023 with SWIFT CBPR+, and on the European Market Infrastructures of T2 (March 2023), Euro 1 (March 2023) and CHAPS RTGS (June 2023). Early data reveal a… The post Shifting from compliance to value with ISO 20022 appeared first on Accenture Banking Blog.
South State Correspondent
SEPTEMBER 11, 2023
On September 7, 2023, the FDIC released its banking profile. This quarterly publication provides a comprehensive financial results summary for all FDIC-insured institutions (4,645 commercial banks and savings institutions insured by the FDIC). While banks under $10B in assets comprise 97.8% of all banks by number, those same banks comprise only 14% of all banking assets (total banking assets of approximately $26.57T as of Q2/23).
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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
Payments Dive
SEPTEMBER 14, 2023
Block’s mea culpa for outages last week at its merchant unit, as well as its peer-to-peer business Cash App, acknowledged “this situation was made more difficult by our communication.
Abrigo
SEPTEMBER 11, 2023
Strategies for adopting AI at your financial institution Abrigo CTO Ravi Nemalikanti offers insights on how banks and credit unions can begin to utilize generative AI. You might also like this webinar, "Banking as a service: Objectives, opportunities, and obstacles." DOWNLOAD Takeaway 1 With generative AI technology improving by the day, the question is not if the banking industry will utilize it, but when.
CFPB Monitor
SEPTEMBER 15, 2023
On September 8, 2023, the Financial Crimes Enforcement Network (“FinCEN”) released an alert regarding a notorious virtual currency scam called “pig butchering,” because, unfortunately, it resembles the “fattening a hog before slaughter.” These scams are primarily perpetrated by criminal organizations in Southeast Asia where these scams are also called “Sha Zhu Pan.”.
BankBazaar
SEPTEMBER 11, 2023
Ganesh Chaturthi is around the corner and festivity and fervour is in the air. On this day Lord Ganesha is invoked to solve all financial troubles and bring in prosperity and wealth. Ganesha is believed to bring in prosperity, wealth, and growth in the life of devotees. This faith and festivity associated with Lord Ganesh give us lessons to improve our finances and live a better life.
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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
Payments Dive
SEPTEMBER 14, 2023
The run-up in labor costs at Fidelity National Information Services has eased, and the paytech services company is eyeing AI to keep them in check.
Jack Henry
SEPTEMBER 11, 2023
I grew up in a small town before regional or national banks were common (or even allowed). Banking was synonymous with community, and walking through the doors of my local branch to deposit my paper route earnings meant conversations with tellers and managers that I’d known – quite literally – my entire life.
CFPB Monitor
SEPTEMBER 13, 2023
Last week, three farm credit trade associations filed the latest in a series of unopposed emergency motions for leave to intervene in the Texas case challenging the Consumer Financial Protection Bureau’s (“CFPB”) final small business lending rule implementing Section 1071 of the Dodd-Frank Act (Rule). The intervenors – the Farm Credit Council, Texas Farm Credit, and Capital Farm Credit (collectively, “Farm Credit Intervenors”) – argue that the Rule imposes substantial burdens on agricultural len
ATM Marketplace
SEPTEMBER 12, 2023
A panel at the Interactive Customer Experience Summit in Charlotte from Sept. 11 to 13 tackled AI head on and how its real benefit is to improve the customer experience, not replace humans.
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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.
Payments Dive
SEPTEMBER 15, 2023
The fight over the Credit Card Competition Act is intensifying on Capitol Hill, with Senate floor diatribes and doughnut truck freebies.
TheGuardian
SEPTEMBER 13, 2023
Thinktank says replacements for European Investment Bank have backed ‘fewer, smaller and lower-risk projects’ New public sector lenders created by the government since Brexit are investing two-thirds less than the UK was receiving from the EU’s European Investment Bank, a new report finds. Over more than four decades, the EIB backed UK projects ranging from the Channel tunnel and the Manchester Metrolink to offshore windfarms and upgrading the National Grid.
CFPB Monitor
SEPTEMBER 15, 2023
Alleging violations of the Illinois Biometric Information Privacy Act (BIPA), approximately 50,000 Samsung customers filed individual arbitration demands with the American Arbitration Association (AAA) pursuant to an arbitration clause in Samsung’s customer agreement. Samsung refused to pay its share of the AAA’s administrative fees, totaling about $4 million, and the AAA closed the matters for lack of payment.
Realwired Appraisal Management Blog
SEPTEMBER 11, 2023
How are your technology partners treating you in this margin challenged environment? Are they making your life easier or annoying you? Are you done? Strike 3? Time to change?
Advertiser: Data Robot
The buzz around generative AI shows no sign of abating in the foreseeable future. Enterprise interest in the technology is high, and the market is expected to gain momentum as organizations move from prototypes to actual project deployments. Ultimately, the market will demand an extensive ecosystem, and tools will need to streamline data and model utilization and management across multiple environments.
Payments Dive
SEPTEMBER 11, 2023
“I think a fair amount of our competitors believe that they’ll either talk their way out of [regulatory attention] or hide,” Affirm CEO Max Levchin said.
TheGuardian
SEPTEMBER 14, 2023
Figures show that lenders flagged nearly £1.7bn of government-backed loans for potential fraud at end of June UK taxpayers have been forced to cover a larger bill for Covid support to companies than expected, after fresh government data showed the amount of pandemic business loans flagged for fraud had jumped by 43%. Figures released by the Department for Business and Trade showed that high street banks and other private lenders – which were responsible for distributing government-backed loans d
CFPB Monitor
SEPTEMBER 12, 2023
Yesterday, we blogged about the opinion issued on September 8 by the Federal District Court for the Eastern District of Texas in the lawsuit brought last year by several trade associations against the CFPB. In that lawsuit, the trade associations challenged changes made by the CFPB to its UDAAP Exam Manual in March, 2022 to encompass discrimination claims within the “unfairness” prong even when such claims go well beyond the scope of the Equal Credit Opportunity Act.
Jack Henry
SEPTEMBER 14, 2023
Win more small business loans by enabling your SMB to grow, invest in equipment, hire employees, and manage cash flow. Learn more in the latest FinTalk blog.
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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.
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