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Beyond compliance: Advantages of customer-centric KYC in 2023

Abrigo

Teaching staff these KYC tips to make clients feel more comfortable In 2023, KYC procedures must both support CDD compliance and make sure your institution is a welcoming place for all customers. Takeaway 2 In 2023, KYC should both strengthen your AML program and personalize services to support clients' individuality and value.

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Consumer Credit Update for 2Q 2023

South State Correspondent

Home equity lines of credit (HELOCs) and bank card usage are up 24% and 17%, respectively. This data is consistent across regions. Volume is not expected to pick up in the second half of 2023. Consumer Credit – Cards There is a shift of capital occurring to the prime tiers of cardholders. restaging their wallet”).

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5 New Year’s Resolutions For Any Sized Bank That You Must Get Right in 2023

South State Correspondent

A potential economic slowdown, slower rate rises, an inverted yield curve, and deposit stress likely make 2023 a trying year compared to 2022. In the past, you have seen us rank customer relevance and total experience as a top priority for banks – not in 2023. Financial pressure will be greater, and bank margins will be higher.

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Card Payment Use Rises Globally

PYMNTS

The number of merchants accepting card payments around the world grew by 13 percent in 2017, to 69.2 RBR, a research and consulting firm for banking and retail, released a forecast of payment card data through 2023, and found that card payment acceptance is growing at a fast rate. million, according to a report.

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Why Regional Payment Preferences Matter For Global Subscriptions

PYMNTS

With the subscription market set to reach more than $500 billion by 2023 , consumers now purchase things like music streaming, software and groceries through subscription services. Beyond product and strategy, payment methods come with highly regional preferences. merchants — is assuming everyone uses credit cards for online payments.

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UK Card Spend Reaches Highest Level Since at Least 2006

FICO

But this year’s rise seems to also have been driven by inflation, pushing the amount of average credit card spend in the UK to the highest level since our UK Risk Benchmarking records began in 2006. December also saw a significant rise in UK cardholders missing one credit card payment, which underlines the financial pressures on consumers.

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How Proposed Capital Rules Could Hit Credit Cards, Mortgages and More

The Financial Brand

This article How Proposed Capital Rules Could Hit Credit Cards, Mortgages and More appeared first on The Financial Brand. Regional bank failures and troubles in early 2023 may bear bitter fruit for the institutions in that size class and beyond that survived.

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