April, 2024

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Gen Z clings to new payment tools

Payments Dive

Gen Zers will abandon a transaction in one out of two cases if their preferred payment method isn’t available, says an EY payments specialist, citing the firm’s survey results.

Tools 434
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Bank Customer Experience Podcast: How to pull off a successful branch renovation

ATM Marketplace

For the premiere episode of the Bank Customer Experience podcast, Bradley Cooper, editor of ATM Marketplace interviewed Jean-Pierre Lacroix, founder and president of design firm Shikatani Lacroix Design, to learn more about how banks can discover the secret ingredients of branches to deliver the best return-on-experience for customers.

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What #Banking Trend Will Have the Greatest Impact on Your Bank?

Jeff For Banks

This was the question posed to Bank Profitability students as part of the Oregon Bankers' Association's Executive Development Program (EDP). These were up-and-coming bankers, the future leaders of our industry, identifying industry trends that will have the greatest impact on their bank, in no particular order. 1. Interest Rates So many financial institutions had a positive GAP (assets that are maturing or repricing within one year minus liabilities that are maturing or repricing within one year

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JPMorgan CEO: 70% of applications to be cloud-native by yearend

BankInovation

JPMorgan continues its cloud migration efforts as it works to move its applications and data to the cloud this year. “Getting our tech to the cloud. … It’s essential,” Chief Executive Jamie Dimon said today in his 2023 letter to shareholders. The $3.

Data 120
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Digital Transformation: Accelerating ROI and Growth in Commercial Lending

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

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Where Does Chime Go From Here?

Gonzobanker

While valuation at many fintechs has dropped since 2022, Chime has bucked the trend. Is it ready for an IPO? Bloomberg recently reported that Chime, the leading fintech neobank, is planning to go public in 2025. According to the report , Chime has not engaged investment banks to date. The unnamed source is a “person familiar with the matter,” and a representative for the company declined to comment.

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Visa, Mastercard CEOs throw hearing off track

Payments Dive

Senate Judiciary Committee Chairman Dick Durbin postponed a plan to call credit card chieftains on the capitol carpet at a Tuesday hearing, but he’s still aiming to get them to Washington.

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2024 Bankers as Buyers Highlights Exploding Fintech Scenario, Invisible Technology, Actual Intelligence

William Mills

In the dynamic landscape of finance, where innovation is the currency of the future, it's crucial for industry leaders to not only keep pace but also anticipate the trends that will shape tomorrow's banking experience.

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New Hampshire credit union hopes gift cards will give it an edge

American Banker

Bellwether Community Credit Union's partnership with the New York ad tech firm Prizeout is working to build out gift card programs and generate added sources of non-interest income.

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57 questions financial institutions should ask about AI

BankInovation

AI continues to take the financial services industry by storm, but as the mega-big banks implement internal AI councils, hire chief data officers and invest heavily in the tech, many institutions are still asking “Where do we start our AI journey?

Industry 110
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The State of Automation in Financial Services 2024 Report

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

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Podcast: Tackling big goals for Financial Literacy Month

ABA Community Banking

For Financial Literacy Month in April, the ABA Banking Journal Podcast features a conversation on how banks are engaging their communities with financial education. The post Podcast: Tackling big goals for Financial Literacy Month appeared first on ABA Banking Journal.

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I’m a victim of scammers. But Revolut says ‘no’ to a refund

TheGuardian

The company seems to hold me entirely responsible for the fact £40,000 was stolen I desperately need help after ­falling victim to a scam resulting in my Revolut business account being emptied of £40,000. The company is refusing a refund. It happened in February while I was staying up a mountain in Italy with no internet and a poor mobile phone signal.

Mobile 93
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How Amex is entangled in the Visa-Mastercard settlement

Payments Dive

The settlement gives merchants the ability to surcharge for nearly all Visa and Mastercard credit card transactions, and puts pressure on American Express to allow the same.

Cards 454
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Credit Unions, Fintechs Pushing the Industry Forward – What We Heard At GAC 2024

William Mills

Branded under its new moniker, America’s Credit Unions (following the recent merger of CUNA and NAFCU), the 2024 Governmental Affairs Conference (GAC) was a successful one, bringing together credit unions from across the U.S. and the service providers and technology partners that are helping them better serve their members.

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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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9 ways AI is transforming the payments industry

American Banker

Companies are taking vastly different approaches to how they implement generative AI, whether it's to empower employees or to overhaul the way they bring products to market.

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3 criteria for innovation at Citigroup

BankInovation

Financial institutions are looking to new technology, growing their innovation teams and investing in AI and generative AI. Citigroup goes beyond the technology when starting innovation projects, looking to its clients and existing capabilities. When the $1.

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How to make ATMs green-friendly

ATM Marketplace

Managing ATMs well and handling cash responsibly can make using cash eco-friendly.

ATM 102
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US banks ‘sabotaging’ own net zero plans by livestock financing, report claims

TheGuardian

Lending to meat, dairy and feed corporations led to ‘significant proportion’ of banks’ emissions, Friends of the Earth found American banks are “sabotaging” their own climate commitments by financing meat, dairy and feed corporations, according to a report. The report analysed funding from 58 US banks to animal protein and feed companies in the form of loans and underwriting, such as share and bond issuance guarantees.

US 93
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2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

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.

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Amazon to drop ‘just walk out’ at some grocery stores

Payments Dive

The e-commerce giant will replace the grab-and-go tech with its smart shopping carts in its Amazon Fresh grocery stores, a tech media outlet reported.

Report 468
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Cognizant partners with Shopify and Google Cloud

The Paypers

US-based professional services company Cognizant has announced its strategic partnership with Shopify and Google Cloud , aiming to advance digitalisation for global retailers.

Google 74
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Why Goldman Sachs CEO David Solomon has become an AI believer

American Banker

The New York megabank is working to deploy artificial intelligence as it seeks to make its own operations more efficient. Solomon also sees an "unprecedented" opportunity in financing clients' needs as they invest in AI.

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JPMorgan Chase invests in wholesale payments tech

BankInovation

JPMorgan Chase is investing in innovation and technology within its wholesale payments operations amid rising demand for global payments capabilities. The $3.7 trillion bank is leaning into payment systems, Chief Financial Officer Jeremy Barnum said today during the bank’s first-quarter earnings call.

Payments 112
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Addressing Top Enterprise Challenges in Generative AI with DataRobot

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.

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Protecting ATMs from attacks

ATM Marketplace

Wells Fargo shared tips on how to protect ATMs.

ATM 124
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At last G20 is showing how to finance an assault on poverty | Larry Elliott

TheGuardian

Brazilian president Lula’s proposals have the backing of the World Bank. Now we need action All things considered, the world’s richest countries have emerged from the global pandemic in better shape than they could have imagined when Covid-19 first appeared just over four years ago. To be sure, the impact of lockdown and its aftermath has been painful, but the effects on poor countries have been far more severe.

How To 78
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Can embedded finance solve one of payments’ biggest problems?

Payments Dive

As crucial as it is to focus on your core business, today’s merchants demand a broader range of services from their providers. Can embedded finance help solve this core competency problem?

Payments 370
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Podcast: The CEO view from Main Street

ABA Community Banking

What's the CEO-eye view on the U.S. economy, business conditions and the regulatory environment for banks? The post Podcast: The CEO view from Main Street appeared first on ABA Banking Journal.

Maine 69
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Need Curated Pre-foreclosure Lists to Generate New Real Estate Leads? Trellis Has the Data!

Trellis is a state trial court research and analytics platform that provides Real Estate Professionals (Buyers, Foreclosure, Loan Modification, etc.) with LEADS on Pre-Foreclosures, Lis Pendes, Distressed Assets and more — to help uncover **new** opportunities and grow their business. The process is quick and easy — and all in real time. Trellis will supply you with a link to the relevant dockets, a Leads sheet and access to its UI where applicable.