Tue.Oct 01, 2024

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What's pulling banks down on customer satisfaction?

ATM Marketplace

A recent survey for UK’s Institute for Customer Service found that banks didn't make the cut for good customer service. How can they improve?

Survey 106
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Affirm may offer discounts after Fed interest rate cut

Payments Dive

The Federal Reserve’s interest rate reduction may give the company leeway to offer more consumers 0% interest or a lower APR, Affirm CFO Michael Linford said this week.

Company 433
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FDIC Digital Sign Requirement Deadline Fast Approaching – Part 1 of 2

Perficient

Just before Christmas in 2023, December 23, 2023, to be precise, the Federal Deposit Insurance Corporation (“FDIC”) Board of Directors gave a Christmas gift that was the equivalent of coal in their stocking. Since the 1930s, when the FDIC was founded as part of the New Deal, the black and gold official sign (shown below) displayed at bank branch teller windows has given bank customers confidence that their deposited funds are safe.

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Visa boosts litigation funding ahead of US antitrust fight

Payments Dive

The company added $1.5 billion to a litigation escrow account as it battles a Justice Department lawsuit and ongoing legal case with merchants.

US 391
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It Takes Two to Tango

With automation, you’ll reduce errors and save valuable time, allowing you to focus on what really matters: strategic analysis and insightful decision-making. Picture accurate financial reports ready at your fingertips, giving you the confidence to tackle business challenges head-on. Embracing automation not only boosts productivity but also elevates your role from number cruncher to closing rockstar.

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Coffee Culture And Its Impact On Personal Spending Habits

BankBazaar

On this International Coffee Day, as we breathe in the rich aroma that somehow makes every moment feel a little warmer, it’s hard not to reflect on how deeply coffee has woven itself into our daily lives. What was once just a simple cup in the morning has evolved into something much bigger—it’s a lifestyle, a social ritual, a small indulgence that we don’t think twice about.

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More Trending

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Monitoring UK bank accounts for benefits fraud would be ‘huge blow to privacy’

TheGuardian

Exclusive: privacy and rights groups fear government may resurrect Tory plan for mass algorithmic surveillance UK politics live – latest updates Ministers have been warned not to resurrect Conservative plans to tackle welfare fraud by launching mass algorithmic surveillance of bank accounts. Disability rights, poverty, pensioner and privacy groups fear the government is poised to deliver a “snooper’s charter” by using automation and possibly artificial intelligence to crack down on benefit cheat

Fraud 111
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Unlocking Insights: What Recent Security Events Reveal About Protecting Your Data

Jack Henry

Unlock key takeaways from recent cybersecurity attacks to help you reduce the impact of breaches and outages with security awareness, robust incident response, and business continuity.

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Bank Community Engagement: Protecting teens from financial scammers

ABA Community Banking

Open communication and education with mindful, real examples are the best steps in demonstrating that scams and fraud can happen to anyone. The post Bank Community Engagement: Protecting teens from financial scammers appeared first on ABA Banking Journal.

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How Payment Solutions Can Help CFOs Overcome Economic Challenges

Cisco

IT payment solutions offer an alternative source of capital that will not impact a customer’s existing credit lines.

Payments 116
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The 2024 Lenders Guide to Automating the Complex Loan

Download the latest edition of GoDocs' "The Lender's Guide to Automating the Complex Loan." This comprehensive guide offers financial institutions valuable insights into document automation for complex commercial loans. It unpacks the intricacies of complex loans and showcases how an automation platform like GoDocs — the leading commercial loan closing platform — delivers impressive benefits and ROI to any FI.

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Why banks aren't ready for ISO 20022

American Banker

The payment protocol, years in the making, includes more information for transactions, aiding real-time processing, international commerce, risk management and overall accuracy. But it also requires a lot of work.

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Fintech funding: Citi Ventures cautious of AI hype

BankInovation

Citi Ventures is aware and wary of a potential hype cycle relating to AI and aims to avoid investing in overvalued startups. “The over-hype, under-hype cycle is something that happens continuously, and AI has not been immune to that,” Managing Director Luis Valdich told Bank Automation News. “We try to make investment decisions carefully […] The post Fintech funding: Citi Ventures cautious of AI hype appeared first on Bank Automation News.

Fintech 61
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Fraud remains a major concern for potential FedNow participants

American Banker

The new real-time payments system is being optimized for speed, not necessarily security, requiring the banks participating in the program to exercise a heightened level of vigilance.

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Nationwide acquires Virgin Money

The Paypers

UK-based Nationwide has announced that it completed the acquisition of Virgin Money , with the move allowing the financial institution to augment its offering.

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Confronting the Change Challenge

Change is difficult, whether in our private or work life. However, without change, growth and learning are difficult not to mention keeping up with the market and staying competitive. We have all worked for or ourselves are the bosses that prefer to keep the status quo. We will discuss how to address the "change challenge" to enable you to be a changemaker and a graceful recipient of change.

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Citi freed from an 11-year-old Fed enforcement action

American Banker

The Federal Reserve has lifted a 2013 order relating to anti-money-laundering compliance issues, including in the megabank's now-defunct Banamex USA unit.

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KeyBank business clients under ‘pressure’ to implement AI

BankInovation

Middle-market businesses are tapping AI and automation to expand their operations in the short term. Fifty-four percent of small businesses will integrate some form of AI in the next six months, a 10% year-over-year increase from the fourth quarter of 2023, according to KeyBank’s Middle Market Sentiment report, released last week. Post-pandemic, middle-market businesses had […] The post KeyBank business clients under ‘pressure’ to implement AI appeared first on Bank Automation News.

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The Most Powerful Women in Banking Top Team 2024: Zions Bancorp.

American Banker

Zions Bancorp.'s core systems team has spent more than a decade transforming the digital system that acts as the hub for all deposit and loan accounts at the bank.

System 73
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Barclays delayed porting our mortgage but we still have to pay £13,000

TheGuardian

We were in danger of our chain collapsing as it took so long over the paperwork and we had to find an alternative We recently moved house and wanted to port our Barclays mortgage, but it took so long over the paperwork that our chain looked set to collapse, so we switched to another lender. Despite the delays at its end, Barclays says we still have to pay an early repayment charge (ERC) of more than £13,000.

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Is Your Current Card Platform Holding You Back?

Have you ever felt the pain and loss of a client suddenly going silent, leaving you questioning everything? Ghosting can cause heartbreak; in business, it drains resources, and emotionally, it shatters your confidence. A modern credit card program can give you the tools to deliver the digital-first experiences your customer’s demand. Our eBook, “5 Signs Your Credit Card Offering Needs an Upgrade,” will help you identify key indicators that your current card platform may be holding you back and w

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Don't let FedNow wither on the vine

American Banker

The Federal Reserve's apparent unwillingness to disclose volumetric details about banks' use of its proprietary faster payments network suggests the central bank is hiding something. That something could be the slow death of faster payments as the new normal.

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Bank acquisitions announced in three states

ABA Community Banking

Byline Bancorp in Chicago, Mifflinburg Bancorp in Pennsylvania and River Run Bancorp in Massachusetts announce acquisitions. The post Bank acquisitions announced in three states appeared first on ABA Banking Journal.

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The Most Powerful Women in Banking Top Team 2024: First Horizon

American Banker

The scuttled acquisition deal with TD Bank challenged the executive management team at First Horizon to come up with a plan to calm investors' and customers' nerves.

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Bank acquisitions announced in Illinois, Pennsylvania

ABA Community Banking

Byline Bancorp in Chicago to buy First Security Bancorp, Mifflinburg Bancorp in Pennsylvania to buy Northumberland Bancorp. The post Bank acquisitions announced in Illinois, Pennsylvania appeared first on ABA Banking Journal.

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How Unify Turned Month-End Mayhem Into a Growth Party With Automation!

By ditching paper and manual checklists, UNIFY embraced ART’s cloud-based solution for seamless automation. The robust dashboards, exception reports, and completion date reports allowed the team to easily track progress and resolve bottlenecks. ART’s flexible access for auditors ensured tight deadlines were met effortlessly. With competitive pricing and a rapid setup, ART cut costs and minimized disruptions, enabling UNIFY’s team to concentrate on high-impact tasks.

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ANZ joins Project Guardian

The Paypers

Australia-based bank ANZ has joined Monetary Authority of Singapore ’s (MAS) Project Guardian to enhance access to tokenized assets in financial markets.

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The Most Powerful Women in Banking Top Team 2024: Huntington National Bank

American Banker

The commercial bank team worked together to grow the bank's commercial business during a challenging year.

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Paybyrd partners Mangopay for payment enhancements

The Paypers

Paybyrd has selected Mangopay as its partner to enhance its omnichannel payment gateway solutions.

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Fed governor calls for 'consensus' on AI regulation

American Banker

Federal Reserve Gov. Lisa Cook called for weighing the costs and benefits of artificial intelligence, and flagged bias and fraud as areas of concern.

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3 Ways Managed Device Services Help Community Banks Cut Costs

Community banks seek ways to leverage their technology infrastructure to drive productivity and growth. However, the sheer volume of technology devices, capital constraints, and lack of skilled resources stand in the way. This Strategy Brief explores how a managed device services partner can help bridge this resource gap. Managed device services partners empower community banks to take charge of mission-critical device management activities with: Logistics and installation services to support se