Perficient

FEBRUARY 15, 2024

This blog was co-authored by Perficient Risk and Regulatory CoE Member: Alicia Lawrence The announcement of significant amendments to the New York State Department of Financial Services (NYSDFS) regulations on December 1, 2023, represents a pivotal moment for entities operating within New York’s financial sector.

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New York Compliance Regulation Analysis 221

BankInovation

DECEMBER 22, 2023

Digital bank bunq rolled out its generative-AI driven chatbot this week and expects the bot to automate most of its operations. 20 and expects it to automate 90% of operations in 2024, a spokesperson from Amsterdam-based bunq told Bank Automation News. Bunq launched the bot, Finn, on Dec.

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Operations Digital Banking 69

Bank Innovation

MAY 23, 2019

The digital technology research and consulting firm predicted fintech revenue to increase from $263 billion this year to $638 billion in 2024. A new study from Juniper Research expects fintech revenue will grow 59 percent over the next five years.

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Fintech Study Industry Technology 199

Perficient

FEBRUARY 15, 2024

The announcement of significant amendments to the DFS500 regulations on December 1, 2023, represents a pivotal moment for entities operating within New York’s financial sector. Embracing these changes enables entities to fortify their operations, safeguard stakeholders, and instill trust within the broader financial community.

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Compliance New York Regulation Analysis 221

The Paypers

DECEMBER 11, 2023

Central Bank of Brazil has published rules for the operation of the Pix Automatic and new rules of its value limits, with additional ones planned for early 2024.

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Operations 41

CFPB Monitor

MARCH 5, 2024

On February 29, 2024, the Consumer Financial Protection Bureau (“CFPB”) issued Consumer Financial Protection Circular 2024-01, Preferencing and steering practices by digital intermediaries for consumer financial products or services.

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Comparison Tools Operations Cards 78

PYMNTS

AUGUST 23, 2018

trillion in market cap by 2024. On top of margins improving at Amazon Web Services, the analyst said the company’s fulfillment operations should have better profitability, and that Amazon’s fresh food delivery service should increase as well. Forget Apple and its $1 trillion market capitalization.

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Marketing Apple Operations Retail 100

South State Correspondent

APRIL 9, 2024

For example, at the start of 2024 the market expected six interest rate cuts, while at the time of writing this article the market expects only 2.6 cuts in 2024 (65 bps) and the borrowing rate should already reflect this in the inverted yield curve. cuts through the end of the year. Further, the market has already priced in the 2.6

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How To Community Community Bank Marketing 195

BankInovation

SEPTEMBER 27, 2023

To cut costs and streamline operations, banks looked to AI to enhance self-service consumer capabilities, improve backend operations and boost developer productivity. Financial institutions have kept their noses to the grindstone this year amid industry turbulence and technological disruption.

Operations 69

Operations Industry Technology America 69

BankInovation

JANUARY 16, 2024

As the Pittsburgh-based bank looks to continue to improve operations, it is pulling back on spending in other areas, including headcount, Chief Financial Officer Robert Reilly said during today’s fourth-quarter earnings call. In 2023, the […]

Operations 64

Operations Technology Retail 64

BankInovation

DECEMBER 13, 2023

Financial institutions are looking to generative AI for software development, chatbots and operational efficiencies, and more AI applications are expected to surface in 2024.

Software 103

Software Operations Industry Report 103

BankInovation

JANUARY 3, 2024

Eight in 10 financial institutions will migrate at least half their core systems to the cloud starting in 2024 in search of efficient operations, robust tech stacks and quick access to data.

Trends 66

Trends System Operations Data 66

BankInovation

JANUARY 17, 2024

Citizens Bank is looking toward AI and generative AI technology to improve operational efficiency and client experience.

Analytics 69

Analytics Data Operations Technology 69

American Banker

DECEMBER 26, 2023

JPMorgan Chase and Citigroup were among the banks that voluntarily reported new information this year about the impact of their operations on climate change. The additional disclosures came in advance of new regulations that are expected in 2024 from the Securities and Exchange Commission.

Regulation 90

Regulation Security Operations Report 90

American Banker

NOVEMBER 8, 2023

The National Credit Union Administration approved the Young Community Federal Credit Union to begin operations in Kentucky soon. An organization in Maryland is shooting for a 2024 opening.

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Maryland Kentucky Groups Community 81

BankInovation

NOVEMBER 15, 2023

EverBank, formerly TIAA Bank, is converting its consumer digital banking operations to FIS’ Digital One to kick off 2024. based EverBank operates as […] TIAA completed the sale of its subsidiary TIAA Bank to private investors in August and the bank has now rebranded as EverBank, according to an EverBank release.

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Jacksonville Digital Banking Operations Online 62

South State Correspondent

JANUARY 16, 2024

Bloomberg recently announced that it will shut down its BSBY index on November 15, 2024. Unfortunately, some banks adopted BSBY as one of their preferred indexes and in doing so created risk in derivatives and operations. The reason for the cessation of BSBY is simple – lack of use.

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Community Bank Community Compliance CA 195

Jack Henry

DECEMBER 28, 2023

Best-Case, Worst-Case, Most Likely Case, or All of the Above If you’re in the midst of building or have recently finalized your 2024 budget, you likely have a few remaining questions, doubts, and concerns.

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Operations Management 88

Perficient

DECEMBER 27, 2023

Navigating AML and OFAC Compliance Risks Regarding anti-money laundering (AML) and Office of Foreign Assets Control (OFAC) compliance risks, bank executives must navigate operational and compliance challenges tied to fintech relationships. Manage third-party risks, especially for relationships involving higher-risk or critical activities.

Compliance 221

Compliance FDIC Regulation Fraud 221

PYMNTS

SEPTEMBER 14, 2020

The new rules mandate that, while companies do not have to sell their operations, they must be totally independent from other facets of their business. The split must be achieved by June of 2024, and companies will have to outline their plans for such a split by Oct. 23 of this year, The Telegraph reports.

Groups 362

Groups Company Report Operations 362

South State Correspondent

JULY 26, 2023

The Fed may be nearing the end of its hiking cycle, but given the high threshold for interest rate cuts, there may be no changes in the Fed Funds rate until well after 2024. Banks must have a strategy to deal with the anticipated increasing cost of funding (COF) and a deeply inverted yield curve through the end of 2024. Yield pickup.

Community Bank 195

Community Bank Community Strategy Atlanta 195

BankInovation

OCTOBER 12, 2023

Citizens Bank plans to join syndicated loan platform Versana in the first half of 2024 to expand its credit reach.

Operations 62

Operations Retail 62

BankBazaar

APRIL 11, 2024

Here are the key things you need to know about these new rules: Mandatory Caller ID TRAI has recommended that all telecom operators provide “Calling Name Presentation (CNAP)” as a supplementary service to customers. This means your incoming calls will display the name the number was registered with by default.

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Regulation Operations Mobile Security 60

Abrigo

FEBRUARY 14, 2024

You might also like this on-demand webinar, "AML/CFT hot topics for 2024: What to expect for financial crime." Prepare for unexpected changes in your AML staffing plan, making your plans a little more "disaster" proof. What tasks are required per regulations? Who performs those tasks? How often are they performed?

Training 195

Training Fraud Compliance Regulation 195

PYMNTS

OCTOBER 12, 2020

In an interview with Karen Webster, Boston Federal Reserve Chief Operating Officer and FedNow Program Executive Ken Montgomery said the central bank’s ambitious payments initiative remains on track — and will inject competition into the instant payments market. The Timeframe . How does one then turn that into cash?

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Payments Boston System Operations 244

PYMNTS

OCTOBER 6, 2020

through March 2024, the Texas-based company announced on Tuesday (Oct. While operating income was $22 million, up 54 percent, net losses were $4.6 MoneyGram International , the global peer-to-peer payment and money transfer company, has extended to its relationship with Walmart Inc. million in Q2. “As

Puerto Rico 282

Puerto Rico Texas Online Report 282

Abrigo

OCTOBER 17, 2023

Specifically, examiners are directed to assess how banks are implementing significant changes in the following four areas: Leadership Operations Risk management frameworks Business activities (including the use of third parties to support critical activities).

Management 195

Management Lending Risk Management Strategy 195

PYMNTS

OCTOBER 14, 2020

Prior to our licensing, AppotaPay only operated for our in-house services, such as payment for game titles that Gamota (a subsidiary of Appota) published. Thus, compared to other applications that take a lot of time to attract users, this is a huge advantage of AppotaPay,” Tran Vinh Quang, chief operating officer at Appota Group, told KrASIA.

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Payments Groups Operations Marketing 130

PYMNTS

JULY 6, 2020

The Big Four accounting firms will have to put their United Kingdom auditing and consulting practices in separate business units by 2024, but may keep them within the same parent companies, under regulations announced today by the Financial Reporting Council. The measures by the U.K.’s

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Regulation Report Operations Meeting 165

Abrigo

FEBRUARY 16, 2024

It's about ensuring that every aspect of your lending operation is optimized for efficiency and effectiveness. Whether it's at the start of a year or some other time, focusing on these key areas will help you fine-tune your operations and set your financial institution up for success in the year ahead. Prepare for your next exam.

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Training Risk Management Analysis Policies 195

PYMNTS

NOVEMBER 22, 2020

Deutsche Bank's renewed interest in the payments sector — it sold its payments operation in 2012 to a buyer in the United States — comes as corporate customers have become increasingly eager to receive funds quickly. billion by 2024. The demand for instant payments is expected to continue to grow.

Payments 161

Payments United States Meeting Examples 161

PYMNTS

AUGUST 9, 2020

Most of the letters from individuals, 2,246, argued the Federal Reserve should not operate in competition with the private sector and viewed the decision to implement FedNow as an expansion that is inconsistent with its historical purpose. The Fed insists it will move ahead with the project with a target launch date for 2023 or 2024.

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System Payments Operations Fraud 181

PYMNTS

NOVEMBER 1, 2019

Small and mid-sized businesses (SMBs) can make their operations run smoother by tapping into automated processes, electronic invoices and accounts receivable (AR) tools for digital payments. 3B: Projected value of the automated accounts receivable market by 2024. percent: Expected CAGR of the eInvoicing market from 2017 to 2026. $16:

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Innovation Payments Apple Data 100

BankInovation

OCTOBER 8, 2020

More financial institutions are adopting robotic process automation (RPA) to streamline their internal processes and operations, according to industry experts at a Sibos panel Wednesday. billion in 2021, up 20% year over year, and the overall RPA market is expected to grow at double-digit rates through 2024, […].

Software 64

Software Operations Industry Marketing 64

PYMNTS

MARCH 6, 2020

trillion to the worldwide economy between the years 2024 and 2034, according to a report by TechRepublic. GSMA represents around 750 mobile operators and hundreds of other companies that operate within the telecommunications sphere.

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Report Mobile Analytics America 138

PYMNTS

AUGUST 6, 2020

billion by 2024, indicating the corporate world’s record-high demand for instant payments. The bulk of this value is driven by savings and operational efficiencies, as AI could cut costs for banks by reducing the human error that occurs in payments and other operations.

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Regulation Payments Innovation Fintech 245

PYMNTS

DECEMBER 1, 2017

Mastercard, the world’s second-largest payments network — which already has 250 research, development and technology employees in New York — plans to add the new jobs by 2024. The company operates five technology hubs around the world. The others are located in St.

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St. Louis New York New York City Technology 115