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The Top 20 Deposit-Rich Industries for 2023

South State Correspondent

Increasing Deposit Balances and Profit Consider this case study – customer acquisition costs for a company that provides security guards and patrol services are about $8,000. The average security company has about $80,000 in deposit balances, while the average trade association has about $501,000 in balances.

Industry 195
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4 Ways To Quantify Loan Prepayment Protection in 2023

South State Correspondent

In a previous article ( here ), we discussed why commercial loan prepayment protection would be a critical return on asset (ROA) driver for community banks in 2023. We believe any prepayment provision is better than none, but we acknowledge that banks are challenged in the market to obtain borrower acceptance of some of these provisions.

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146B Customer Records On Dark Web By 2023

PYMNTS

A new report has found that over 33 billion records will be stolen by cybercriminals in 2023 alone. Juniper’s strategic analysis of 48 leading cybersecurity companies shows that AI and predictive analytics are now table stakes for this market,” research author James Moar said in a press release. by 2023.

Analysis 108
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Deep Dive: Striking A Balance In Digital ID Security

PYMNTS

It’s undeniably advantageous to the world economy, with a recent study finding that national digital ID systems could induce GDP growth of up to 13 percent. The Drawbacks of Complex Security. AI Solutions for Balancing Security and Convenience. Blockchain-Based Security Methods. More than 4.5 billion by 2022.

Security 129
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FinCEN Issues ANPR to address residential real estate money laundering

Abrigo

real estate market alone. Treasury Secretary Janet Yellen said in  March 2023 that illicit actors  laundered at least $2.3 The January 2023 alert to financial institutions, Potential U.S. Real estate money laundering poses a significant threat to the integrity of financial systems and the stability of property markets.

Training 195
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US Mobile Adopts Digital Identity Protocols To Protect Against SIM Swap Fraud

PYMNTS

The telecommunications industry is but one of many sectors looking to more securely verify customers and avoid fraud, which remains a growing problem. One study found that these apps will outnumber phy sical identity cards by 2023, with this trend being driven largely by national ID programs in emerging markets.

Fraud 242
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Demand For Faster Payments Skyrockets

PYMNTS

Treasury’s difficulties getting relief money to individuals, has renewed calls for the government to accelerate its FedNow national real-time payments network, still not expected to be operational until at least 2023. The Paycheck Protection Program (PPP) disbursement fiasco, coupled with the U.S. The Fed’s Failure. Problem No.

Payments 344