Cash use persists in US beyond pandemic
Payments Dive
JUNE 11, 2024
Consumers remained committed to cash use last year, even as the share of card payments rose and online payments increased, according to an annual Federal Reserve study.
Payments Dive
JUNE 11, 2024
Consumers remained committed to cash use last year, even as the share of card payments rose and online payments increased, according to an annual Federal Reserve study.
BankInovation
JUNE 12, 2024
ING is running a generative AI-driven chatbot pilot in the Netherlands before it plans to scale the technology. The pilot funnels only 2.5% of clients’ chats into its gen-AI chatbot, Chief Analytics Officer Bahadir Yilmaz told Bank Automation News at the recent Money2020 Europe event in Amsterdam.
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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).
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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Shifting liability for digital fraud losses represents a significant challenge for financial institutions and payment service providers. In response to the global surge in digital fraud, regulators are introducing policies that transfer the cost of fraud from defrauded customers to financial institutions. ThreatMark’s newly released white paper, "The Liability Shift: Understanding Fraud Losses Responsibility and Mitigation," provides an in-depth analysis of this shift, its implications, and stra
TheGuardian
JUNE 11, 2024
Institutions alleged to have given billions of dollars to oil and gas companies involved in projects that are harming the rainforests Five of the world’s biggest banks are “greenwashing” their role in the destruction of the Amazon, according to a report that indicates that their environmental and social guidelines fail to cover more than 70% of the rainforest.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
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.
ATM Marketplace
JUNE 11, 2024
How can banks successfully deliver customer transformation initiatives? A panel at the upcoming Bank Customer Experience Summit from Sept. 9 to 11 in Charlotte will offer the secret ingredients to a successful transformation.
TheGuardian
JUNE 10, 2024
Win would benefit banks, builders and supermarkets, say analysts, showing appeal of ‘centrist platform’ for City UK general election live – latest updates A Labour election victory will be a “net positive” for financial markets, strategists at the US bank JP Morgan have said, in an analysis that underlines the appeal of Keir Starmer’s “centrist platform” to the City of London.
BankInovation
JUNE 5, 2024
AMSTERDAM — ING is using generative AI in its know-your-customer processes to boost productivity for its data analysts and improve the client experience. The generative AI efforts for KYC have both an operational and client benefit, Marnix van Stiphout, chief operating officer and chief technology officer ad interim at 976 billion euros ($1.
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
Payments Dive
JUNE 10, 2024
The three companies announced last Wednesday that they are teaming up to launch a free service intended to combat fraud and reduce the amount of transactions that are improperly declined.
American Banker
JUNE 7, 2024
U.S. regulators need to do more to require banks to recognize the risks posed by climate change, and the damage that continuing to support fossil fuel extraction projects does to the environment.
The Paypers
JUNE 10, 2024
Saudi Central Bank has joined Project mBridge, collaborating with China, Thailand, Hong Kong, and UAE to test central bank digital currencies for cross-border trade and payments.
ATM Marketplace
JUNE 7, 2024
Want to upgrade your ATM fleet? Here are three easy steps you can take.
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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.
BankInovation
JUNE 10, 2024
ING and Deutsche Bank are looking to AI to boost efficiencies and provide personalized banking experiences for their clients. AI adoption is growing among financial institutions, according to Nvidia’s 2024 State of AI in Financial Services report.
Payments Dive
JUNE 6, 2024
State lawmakers are negotiating three separate proposals related to the buy now, pay later industry ahead of the end of the legislative session on Thursday.
American Banker
JUNE 7, 2024
In the U.S., the COVID-19 pandemic and other factors caused a sharp reduction in cash use. But with paper bills still accounting for nearly a fifth of all payments, the option is still far too entrenched to risk extinction.
ABA Community Banking
JUNE 12, 2024
CFPB should incorporate stakeholder feedback as it finalizes the rule to “reduce ambiguity” and to ensure “an effective rollout that limits disruptions to consumers," the groups said. The post ABA, trade groups ask CFPB to consider small firms’ needs as it finalizes Section 1033 rule appeared first on ABA Banking Journal.
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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.
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.
BankInovation
JUNE 12, 2024
Technology provider Temenos will integrate Mastercard’s Mastercard Move solution to provide banks with international money transfer capabilities. Mastercard Move will enable Temenos’ bank clients to use a range of options to cost-effectively route and deliver money, according to a June 4 Temenos release.
Payments Dive
JUNE 12, 2024
The P2P ‘Tap to Cash’, which enables iPhone users to transfer money by holding their phones together, was unveiled along with a slate of other features Monday.
American Banker
JUNE 10, 2024
An interchange provision included in Illinois' budget bill could force banks and payment processors nationwide to revamp their payments infrastructure, lobbying groups for the industry say.
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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
The Paypers
JUNE 10, 2024
The US Treasury has asked the public to share their input regarding the use of artificial intelligence (AI) in the financial services sector.
Bussman Advisory
JUNE 7, 2024
This week’s must-know stories in the FinTech, AI and Digital Asset space. The latest edition of the FinTech Ecosystem Newsletter is here: Image Credits: shutterstock.com The post How Apple fell behind in the AI arms race | Deutsche Bank ties up with Bitpanda in crypto shift | Robinhood to buy crypto firm Bitstamp for $200mThis week’s must-know stories in the FinTech, AI and Digital Asset space: appeared first on Bussmann Advisory AG.
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.
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.
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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
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