Illinois heads toward landmark card interchange fee restrictions
Payments Dive
JUNE 7, 2024
The state may become the first in the nation to outlaw the imposition of credit and debit card interchange fees on state excise tax and tips.
Payments Dive
JUNE 7, 2024
The state may become the first in the nation to outlaw the imposition of credit and debit card interchange fees on state excise tax and tips.
South State Correspondent
JUNE 5, 2024
The average return on equity (ROE) for the banking industry declined to 11.10% in Q1/24 (a 23 percent decline in the last year). For banks under $10B in assets, ROE declined to 10.53% in Q1/24 (an 11% decline in the last year). The typical published analysis considers the industry in aggregate which conflates the challenges and opportunities at community banks (those under $10B in assets).
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Payments Dive
MAY 31, 2024
Research shows young people see digital wallets as a more secure option than debit and credit cards. Cybersecurity professionals mostly agree, despite caveats.
Abrigo
JUNE 4, 2024
Navigating credit quality, compliance, and technology integration The ThinkBIG conference hosted by Abrigo fosters networking and professional development for bankers. Read some hot topics discussed by the conference's opening panel. You might also like this on-demand webinar, "Navigating uncertain times: Strategies for risk management and compliance.
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Automation generally supercharges any process and brings its value to the forefront. See how infusing automation such as ART (our month-end close solution), into your close can get you to the next level of closing. We will share a live demo of SkyStem's solution, ART and share the key elements of month-end close automation. Through ART, we'll take a look at: What month-end close automation entails Which process steps can and should be automated Benefits of achieving process automation, and Why i
Accenture
MAY 31, 2024
We’re all still trying to get our heads around the big question confronting all commercial bankers right now: how and where will generative AI have the greatest impact? In our recent analysis of the top trends shaping the industry in 2024, we argue that each one is influenced to some degree by generative AI. In… The post Four ways generative AI will transform commercial banking appeared first on Accenture Banking Blog.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Dive
JUNE 5, 2024
The Safer Banking Act and federal rescheduling of marijuana could simplify transactions for payments companies doing business in the arena.
Jack Henry
JUNE 7, 2024
Explore top insights from Jack Henry's 2024 Strategy Benchmark. Dive into key findings on financial benchmarks such as technology trends, metrics, & more.
TheGuardian
JUNE 3, 2024
Insistence on investment purity misses the point and will only lead to a decline in arts sponsorship In a ranking of climate villains in the fund management industry, Baillie Gifford would surely come a long way down most people’s list. The Edinburgh-based firm preaches long-termism and its specialism is backing technology companies, especially those with kit to accelerate the transition to cleaner energy and transport.
Gonzobanker
JUNE 6, 2024
Add these action items to your card fraud checklist to strengthen your defenses. The hacker group ShinyHunters allegedly breached Ticketmaster’s data in late May 2024, including credit and debit card information for over 560 million consumers worldwide. That’s more than 2.5 times the prior largest breach of Experian a decade ago. So, what will happen to U.S.
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Dive into the complexities of New York lien laws with our comprehensive eBook, 'New York Lien Law Essentials: 5 Key Facts for Commercial Lenders.' In this detailed guide, we explore the critical formalities necessary for lenders navigating ground-up construction and fix-and-flip projects in the New York market. From documentation requirements to the implications of non-compliance, learn how to safeguard your lending position and prioritize legal adherence.
ABA Community Banking
JUNE 3, 2024
ABA added NB Bancorp, headquartered in Needham, Massachusetts, to the ABA NASDAQ Community Bank Index, or ABAQ. The post NB Bancorp added to ABA NASDAQ Community Bank Index appeared first on ABA Banking Journal.
Payments Dive
JUNE 3, 2024
Block is working to make its peer-to-peer payments tool, Cash App, a consumer app for interacting with merchants using its Square point-of-sale software.
American Banker
JUNE 6, 2024
Most banks are starting their generative AI experiments with closed-source models before progressing to open source. For some, the ultimate goal is to be model-agnostic.
TheGuardian
JUNE 2, 2024
New lower rates of 3.75% and 4.75% respectively are likely to be introduced this week after drops in inflation Borrowers in the eurozone and in Canada are expected to get some relief from high interest rates this week. After recent drops in inflation, the European Central Bank (ECB) and the Bank of Canada (BoC) are forecast to lower their benchmark rates in the coming days.
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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
BankInovation
JUNE 7, 2024
AMSTERDAM — Consumers are more likely to interact with a business with a frictionless payment experience in place. Sixty-one percent of merchants say payments is a high area of focus, according to Discover Global Network’s “Payment State of the Union” report, released June 3.
ATM Marketplace
MAY 31, 2024
When asked by a reporter why he robbed banks, Willie Sutton famously replied: "Because that's where the money is." Can biometrics prevent would-be-thieves from stealing from ATMs?
Payments Dive
MAY 31, 2024
“The scale of fraud on the Zelle platform is unacceptably high,” National Consumers League Vice President John Breyault said.
American Banker
JUNE 3, 2024
In this month's roundup of top banking news: a Supreme Court ruling on CFPB funding, TD Bank's money laundering woes, an FDIC workplace probe reveals a culture of misconduct and more.
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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.
TheGuardian
JUNE 4, 2024
Lender denies whistleblowers’ claim transactions worth $100bn were carried out in breach of sanctions Whistleblowers have claimed Standard Chartered allegedly carried out billions of dollars of previously undetected transactions for Iran-linked entities and terrorist organisations, according to a New York court filing. Two whistleblowers, who include a former executive at the British bank, filed a motion last week to set aside a judgment that dismissed an earlier lawsuit they filed, in an attemp
BankInovation
JUNE 6, 2024
AMSTERDAM — Deutsche Bank is one of multiple financial institutions sharing anonymized data with financial messaging service provider Swift. The process will test the use of secure data-sharing for AI-driven fraud prevention, Joanne Hannaford, chief information officer and chief product officer of corporate bank at Deutsche Bank, said at Money2020 Europe on June 4.
Realwired Appraisal Management Blog
JUNE 6, 2024
There’s an opportunity for appraisers with developers and investors to be a canary in the CRE coal mine. The buyer’s due diligence journey could START with an appraisal rather than at the end. No guess work. No wasted time. No wasted money.
American Banker
JUNE 4, 2024
Integrating artificial intelligence into banking operations needs to be done with a clear business purpose in mind, and the articulation of that purpose needs to come straight from the top of the organization.
Advertiser: Data Robot
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.
TheGuardian
MAY 31, 2024
ShinyHunters stole information including bank and credit card numbers, as well as staff HR details Hackers are attempting to sell confidential information including the bank and credit card numbers of millions of Santander customers to the highest bidder. ShinyHunters posted an advert on a hacker forum for the data, which it says also includes staff HR details, with an asking price of $2m (£1.6m).
BankInovation
JUNE 6, 2024
The Consumer Financial Protection Bureau is soliciting financial services stakeholders to help form a framework for sharing data ahead of open banking in the United States.
ATM Marketplace
JUNE 4, 2024
Is cash on its way out or will it stick around for the future?
Payments Dive
MAY 31, 2024
The card issuer joins its tech and payments peers in integrating crypto into the traditional financial system.
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Most people dread the nearing of the month-end close and reconciliation process, and who can blame them? It's typically a tedious, long, stressful process; but it doesn't have to be. Implementing automation into your month-end process can significantly reduce this headache by automating up to 40% of your reconciliation and saving nearly 30% of your time spent.
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