Trending Articles

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Visa, Mastercard reach landmark credit card settlement

Payments Dive

The two biggest U.S. card networks agreed to cap interchange fees for five years, among other terms, to settle merchant litigation that has lasted nearly two decades.

Cards 448
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Investing in America: 7 Strategies and 7 Tactics That Can Drive Business

South State Correspondent

The Biden Administration “Investing in America” agenda continues with many programs opening in June of this year. If your bank has not done so already, it should consider getting involved for the benefit of customers and shareholders. The various programs are wide ranging, complicated, and impactful which is why now is an excellent inflection point to provide financial advisory to both your retail and commercial customers.

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5 Variables That Help Commercial Relationship Profitability

South State Correspondent

In our previous articles ( here and here and here ) we discussed some of the drivers of commercial relationship profitability. In this article, we consider and define relationship banking and how relationship banking can increase commercial loan profitability. What is Relationship Banking We define relationship banking as a model focused on a consultative banking approach.

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Non-bank ATMs have hidden opportunities amid challenges

ATM Marketplace

IADs have taken big hits in recent years, but consumers still want their services. This industry has a lot of untapped potential, if they take certain strategic steps for success.

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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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Banks Should Make 2024 a True ‘Year of Digital’

Gonzobanker

Banks and credit unions won’t find a perfect digital vendor. What they can find is the right partner to fulfill their strategic needs. 2024 will prove to be a remarkably busy year in the digital space, when many financial institutions will make near-life-or-death choices about the future of their digital platforms and how they will support them.

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X lands money licenses in Illinois, New Mexico

Payments Dive

The social media platform is now nearly halfway to securing the state licenses needed to fulfill owner Elon Musk’s vision of a nationwide payments app.

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AI will transform banking

ATM Marketplace

Banks can use AI to improve customer experiences and provide a more personalized touch to their services, to streamline bank branch management and bolster security, creating the bank of the future.

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Integrated Financial finds new buyer in Capital Bancorp

American Banker

Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.

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HSBC urges investors to back AGM vote opening way to higher bonuses

TheGuardian

London-headquartered lender wants to take advantage of UK’s decision to scrap bonus cap Business live – latest updates HSBC is urging shareholders to back a vote at its annual meeting that would open the door to bigger bonuses for its highest-earning bankers. The London-headquartered lender wants to take advantage of the UK’s decision to scrap the banker bonus cap , which was introduced after the 2008 financial crisis and limited bonuses at twice an individual’s base salary.

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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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CFPB targets ‘bait-and-switch’ card reward programs

Payments Dive

Major credit card providers offset attractive rewards programs with fees and interest, costing consumers carrying balances, CFPB Director Rohit Chopra said.

Cards 243
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The Power of Machine Learning in Transaction Monitoring

BankInovation

In the banking industry, transaction monitoring stands as a critical pillar of defense against fraud, money laundering, and other illicit activities. While traditional methods have served their purpose, the landscape is evolving, demanding a more sophisticated approach. This is where machine learning emerges as a key driver, offering remarkable capabilities in transaction monitoring.

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US Treasury imposes sanctions on Russian fintech operations

The Paypers

The US Treasury has announced that it imposed sanctions on Russian financial services and technology participants for providing services in virtual assets intended to evade Ukraine.

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Fed's Barr working with Powell to find consensus on Basel III

American Banker

The Federal Reserve's vice chair for supervision says the board is discussing ways to address the various concerns banks have raised about the capital reform proposal.

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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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‘I’m not a quitter’: bank trader vows to continue fight after losing Libor appeal

TheGuardian

Tom Hayes, first banker to be convicted in 2012 rate-rigging scandal, had his case rejected by UK court of appeal Business live – latest updates Tom Hayes, the first banker to be convicted over the Libor interest rate scandal, has said he is “not a quitter” and vowed to continue his near-10-year battle to clear his name after losing an appeal. Hayes and another former banker, Carlo Palombo, had their convictions considered by the court of appeal in London in a three-day hearing.

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Private plaintiffs follow DOJ’s Apple antitrust case

Payments Dive

The follow-on class actions are substantively similar to the federal government’s case, making them dependent on the agency’s lead in breaking the company’s smartphone stranglehold.

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Ally Financial names Rhodes as CEO

BankInovation

Ally Financial named a new chief executive today, ending a three-month search. Michael Rhodes will take the reins of the bank April 29 and become a member of the board, according to an Ally release. Prior to joining Ally, Rhodes served as CEO of Discover Financial Services, which Capital One announced plans to acquire last month.

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Western Union launches eSIM

The Paypers

Western Union has launched its global eSIM mobile data service, which will enable customers to have full control over their connectivity needs and finances.

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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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Visa, Mastercard agree to lower credit card interchange fees

American Banker

The potential deal between the major card networks and merchants would see swipe fees reduced and capped for at least three years, pending approval by the U.S. District Court for the Eastern District of New York.

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How can banks operationalize customer insights?

ATM Marketplace

CX expert Shelly Chandler of EvolveCX Consulting shares how banks can transition data into actionable insights in today's episode of CX Innovators.

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DOJ calls Apple card fees ‘significant expense’ for banks

Payments Dive

The tech giant’s fees for credit card transactions “cut into funding for features and benefits that banks might otherwise offer smartphone users,” the Department of Justice said in suing the company earlier this month.

Cards 221
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European Transactions: Nationwide to acquire Virgin Money for $3.7B

BankInovation

Swindon, U.K.-based Nationwide Group has offered to acquire U.K.-based financial institution Virgin Money for 2.9 billion pounds ($3.7 billion) in cash, according to a March 21 Nationwide release. The acquisition, which must be approved by the Financial Conduct Authority, would help Nationwide grow its customer base, deposits and operations organically, the release stated.

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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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ANEXT Bank secures USD 148 million from Ant Group

The Paypers

Singapore-based digital bank ANEXT Bank has secured USD 148 million in added capital from Ant Group , its parent company, as per regulatory filings tracking.

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20 U.S. banks with the largest CRE loan volume

American Banker

The top five banks had a combined commercial real estate loan volume of more than $500 billion at the end of the fourth quarter of 2023.

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Foam Fades, Knowledge Stays: Rethinking Appraiser Education

Realwired Appraisal Management Blog

The valuation profession’s education is like the car wash guy at the tunnel entrance. It’s a rinse-and-repeat mindset. Car wash guy waives his hand to align your tires and points to the sign that says: car in neutral, wipers off, hands off the steering wheel and foot off the petals.

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How Visa handled ‘BidenCash’ card fraud incident

Payments Dive

The card network giant identified 556,000 card accounts that were put at risk as a result of the cybercrime ring BidenCash’s release of data online in December.

Cards 221
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Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance

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.