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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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.

ATM 114
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Perficient Recognized in Forrester’s Automation Fabric Services Landscape, Q1 2024 Report

Perficient

In an era where automation plays a pivotal role in reshaping businesses, selecting the right partner for automation fabric services is critical. Forrester’s report, The Automation Fabric Services Landscape, Q1 2024, offers insights into the evolving landscape and recognizes notable providers in the industry. Perficient is listed among these notable providers as a large automation fabric consultancy, with an industry focus in financial services, healthcare, and manufacturing/production of c

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Charm Pricing in Banking: How To Use The Left Digit

South State Correspondent

Most banks completely ignore odd digit pricing. Instead of offering that competitive commercial loan for 7.00%, you offer the loan for 6.99%. Conversely, in a non-competitive situation, instead of offering a 6.20% rate, you offer a 6.23% rate and pick up three basis points per year. However, those banks that do are religious about it and as a result, it ends up increases their product acceptance rate and increasing margin.

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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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The value of fair value: Credit union merger accounting requires a strong partner

Abrigo

Find the right support for your credit union merger Consider the benefits of a third-party fair value specialist to smooth the credit union merger accounting process. You might also like this webinar, "Valuation and purchase accounting: Navigating the changing M&A landscape." Watch NOW Takeaway 1 Fair value specialists bring expertise to ensure accuracy, transparency, and adherence to accounting and regulatory standards during the merger process.

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Guest Post: Financial Markets and Economic Update - First Quarter 2024

Jeff For Banks

Four Years Ago It was on March 11 th , four years ago in 2020, that the WHO declared a global pandemic due to the Covid virus threat that originated in China. Our lives changed forever from this whole experience of the government’s declaration of a national emergency, leading to forced shutdowns of businesses and schools, mandated mask wearing, forcing 6-foot distances between people, travel restrictions, fear mongering with case and death counts, and forced vaccines/boosters.

Marketing 145
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KeyBank 2-3 years from gen AI features for customers

BankInovation

Both KeyBank and PNC Bank are exercising caution in how they roll out generative AI to their customers. The models need to be refined for accuracy before consumers can be the “prompters,” or questioners, for gen AI-driven features, Dominic Cugini, chief transformation officer at $185 billion KeyBank, said at Bank Automation Summit U.S.

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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.

Capital 99
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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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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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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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Turkish central bank stuns market by hiking interest rates to 50%

TheGuardian

Hawkish rise 10 days before local elections is seen as a signal of independence from politics Turkey’s central bank unexpectedly raised interest rates to 50% on Thursday, citing a deteriorating inflation outlook and pledging to tighten further if it looks like inflation is significantly and persistently worsening. The hawkish move came 10 days before local elections and was seen by analysts as a signal that the central bank was independent from any political constraints and determined to tackle

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MSUFCU: Failure is a key part of innovation

BankInovation

Financial institutions should expect to fail when exploring new technologies, Ami Iceman Hauter, chief research and digital experience officer at Michigan State University Federal Credit Union, said at the recent Bank Automation Summit U.S. 2024 in Nashville, Tenn.

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Municipal Credit Union brings wealth management to members

American Banker

The $4.2 billion-asset MCU in New York is working with Ameriprise Financial Institutions Group to connect members with the firm's network of digital advisors and offer investment planning options alongside its suite of traditional products.

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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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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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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.

Apple 195
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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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Junior, senior coders split on the use of gen AI

BankInovation

PNC Financial Services’ junior and senior coders are split on how much they can rely on generative AI for code generation and writing. Junior coders use gen AI for code writing more than senior coders, Scott Kinross, senior vice president and software engineering director at PNC Financial Services, said at Bank Automation Summit U.S.

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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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Capital One seeks community plan on Discover deal, even as some activists balk

American Banker

The credit card giant says that it is "proactively meeting" with advocacy organizations to gather feedback that would help with the creation of a community benefits plan. The National Community Reinvestment Coalition, which has negotiated 21 such deals since 2016, opposes Capital One's proposed acquisition of Discover.

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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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HSBC and NatWest accused of financing North Sea oil extraction despite pledge

TheGuardian

Campaigners call on banks to cease funding Ithaca, which is playing a key role in Rosebank oilfield plan Two major UK high street banks have been accused of continuing to finance fossil fuel expansion in the North Sea despite signing a pledge to align their activities with the net zero climate goal. HSBC and NatWest have provided tens of millions in finance to Ithaca Energy, a British oil and gas company that is playing a key role in plans to exploit the controversial Rosebank oilfield north-wes

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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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Next-gen Financial Document Processing: A Must for Modern Banking

BankInovation

Document processing is a routine task in the finance industry, but does it have to be manual? In an era where the banking sector is grappling with a growing volume of documents, the need for efficient, accurate, and swift document processing systems has never been more critical.

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Credit union purchases of banks on pace for record after latest deal

American Banker

Harborstone Credit Union in suburban Lakewood, Washington, plans to buy Savi Financial. That's seven deals in less than three months this year; the highest full-year total was 16 in 2022.

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Tax Filing Reminder

TrustBank

We are well into March which means tax filing time is upon us. Now would be a good time to securely send your tax information to your tax preparer (if you haven’t already). It is also an especially high time to be alert and vigilant to scams and fraud regarding your personal information. Fraudsters are looking to take advantage of mailings and emails from financial institutions regarding tax info.

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Walmart can end Capital One end card tie early, judge says

Payments Dive

It won’t be easy for Walmart to find a new partner to replace Capital One, though, said Brian Riley, co-head of payments at Javelin Strategy & Research.

Capital 195
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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.