Fri.May 10, 2024

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How can banks maintain a good CX in light of layoffs?

ATM Marketplace

Bradley Cooper, editor of ATM Marketplace discussed bank layoffs in light of CX with Mack Turner, a 30 year veteran of the financial services industry,

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CFPB, DOT take aim at airline rewards

Payments Dive

The two agencies raised concerns that airlines and card companies could arbitrarily devalue points accrued in their joint rewards programs, amounting to a bait-and-switch for customers.

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Popular names Javier Ferrer president. Is he its next CEO?

American Banker

The Puerto Rico-based company's board of directors has given an additional title to COO Javier Ferrer, naming him president as of May 9. His career path closely resembles that of his boss, CEO Ignacio Alvarez.

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Mastercard joint venture starts operations in China

Payments Dive

The collaboration with a Chinese entity began Wednesday, with processing of cards issued by banks in the country following years of preparations.

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5 Things Lenders Need to Know About Portfolio Loans & Their Documentation

Discover the key benefits of portfolio loans and learn how to streamline your lending process with our infographic, "5 Things Lenders Need to Know About Portfolio Loans & Their Documentation." Find out how portfolio loans can maximize borrower potential by consolidating multiple properties under a single loan, reducing paperwork, and lowering closing costs.

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Affirm CEO: Gen Z loves gen AI-powered customer service chat

American Banker

Max Levchin, CEO of the buy now/pay later lender, said recent tests show young adults prefer interacting with intelligent chatbots over phone-based agents, but the company doesn't foresee major cost savings from generative AI for a few more years.

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A U.S.-dollar-pegged stablecoin would supercharge banking and payments

American Banker

A "true" stablecoin would benefit the economy by improving the money supply, facilitating frictionless payments and lowering the cost of borrowing fiat currency.

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Bank of America emphasizes VR training for staff

BankInovation

Bank of America aims to add 10 to 20 modules to its virtual reality training program every year to enhance employee training and improve information retention.

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Linkbancorp selling New Jersey operations to credit union

American Banker

American Heritage Federal Credit Union in Philadelphia plans to acquire three branches and $105 million of deposits from Linkbancorp. The deal is part of a growing number of transactions involving credit unions buying whole banks or portions of their branch networks.

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Access Bank Group partners with Mastercard

The Paypers

Access Bank Group has announced its partnership with Mastercard in order to expand opportunities for cross-border payments for African businesses and clients.

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Top 3 Secrets to Staying Relevant with Gen Z

Speaker: Brian Muse-McKenney, Chief Revenue Officer & Matt Simester, Cards and Payments Expert

In today’s world of social media, dating apps, and remote work, businesses risk becoming irrelevant or getting "ghosted" if they fail to meet the evolving needs of Gen Z consumers. In this new webinar, Brian Muse-McKenney of Episode Six and Matt Simester of Payments Consultancy Limited will reveal key considerations banks should factor into their efforts to develop target products for the next generation of bank customers.

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The Dos and Don'ts of Applying for Commercial Loans

Commercial Lending USA

Many commercial loans are secured by collateral, an asset the borrower pledges as security for the loan.

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Tuum partners with TransactionLink

The Paypers

Tuum has announced its partnership with TransactionLink in order to streamline fintech onboarding processes and optimise operational efficiency.

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Commercial Loans: Your Ultimate Guide

Commercial Lending USA

At Commercial Lending USA, we specialize in taking the hassle out of commercial loan acquisition.

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Fed report shows declining supervisory ratings for banks

American Banker

Large banks, particularly those with over $100 billion in assets, see increasing supervisory shortcomings related to interest rate and liquidity risks, governance and risk control issues, and cite cybersecurity, CRE values, and remote work trends as potential hazards in the future.

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Breaking New Ground: Managing Innovation Fatigue With Effective Automation

Speaker: Gary Dmitriev

Our upcoming webinar aims to demystify the process of selecting and implementing automation tools for financial institutes. This session will provide your roadmap for vetting potential solutions, focusing on due diligence, vendor assessments, and aligning technology with strategic goals. We’ll also address the critical issue of innovation fatigue, offering tips on maintaining enthusiasm and momentum for new initiatives.

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Wells Fargo launches Signify Business Cash Mastercard

The Paypers

US-based bank Wells Fargo has introduced the Signify Business Cash Mastercard for simplified cash rewards, tailored for small business success.

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Truist completes sale of insurance unit; City National's new hire

American Banker

Truist Financial completes the sale of its remaining stake in Truist Insurance Holdings; City National Bank has hired Rick Bechtel as executive vice president and head of mortgage and residential lending; Associated Bank names Chun Schiros as its first chief analytics officer; and more in the weekly banking news roundup.

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Euclid reveals unified liquidity layer for blockchain integration

The Paypers

Euclid Protocol has introduced a new shared liquidity layer aimed at addressing the issue of fragmented liquidity in the blockchain ecosystem.

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West Virginia's United Bankshares strikes deal to enter Atlanta

American Banker

The Charleston-based company agreed to pay $267 million to acquire Piedmont Bank in Peachtree Corners, Georgia. It's United's 34th deal, but the first since 2021.

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Case Study: First Mid Bank Fast-Tracks New Market Entry in Commercial Lending

Discover First Mid Bank's Expansion Success with Our Case Study! Discover how First Mid Bank & Trust fast-tracked market expansion through advanced automation and compliance solutions. This case study reveals their journey from facing challenges in Texas' complex legal landscape to achieving rapid market entry with GoDocs' innovative commercial closing platform.

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Cloudflare enhances cybersecurity in the US financial sector

The Paypers

Cloudflare has partnered with the US Treasury and PNNL to bolster financial cybersecurity, sharing advanced threat intelligence for industry defence.

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FSOC: Congress should boost Ginnie, FHFA nonbank authorities

American Banker

The new Financial Stability Oversight Council report also recommends an expanded Ginnie Mae PTAP facility and an industry-funded liquidity resource.

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Wink Pay launches in Lebanon

The Paypers

Wink Pay has collaborated with Visa and Codebase Technologies to launch fully-digital onboarding and instant card issuance proposition for Visa prepaid virtual cards in Lebanon.

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With Rate Cuts Delayed, How Can Banks Boost Deposit Profitability? One Word: Volume

The Financial Brand

This article With Rate Cuts Delayed, How Can Banks Boost Deposit Profitability? One Word: Volume appeared first on The Financial Brand. With Fed interest rate cuts increasingly off the table, how can banking institutions grab greater profitability? The answer is a familiar, though overlooked strategy. This article With Rate Cuts Delayed, How Can Banks Boost Deposit Profitability?

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Exploring the Liability Shift: A Comprehensive Guide to Fraud Loss Responsibility and Mitigation

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

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FINRA fines SoFi USD 1.1 mln

The Paypers

FINRA has fined SoFi USD 1.1 million due to alleged consumer identification flaws across its cash management brokerage service enabling fraudsters to take funds approximating USD 2.5 million.

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The State of Small Businesses: A Guide for Banks

The Financial Brand

This article The State of Small Businesses: A Guide for Banks appeared first on The Financial Brand. Bank of America's latest business owner's report on SMBs' optimism, challenges and strategies in a post-pandemic landscape of economic uncertainty. This article The State of Small Businesses: A Guide for Banks appeared first on The Financial Brand.

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SurePay chosen as preferred VoP scheme vendor for Belgian banks

The Paypers

Belgium has selected Netherlands-based SurePay for Verification of Payee (VoP) to enhance fraud prevention and EU compliance.

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American Banker news quiz: May 10

American Banker

In this week's edition of the American Banker news quiz, gauge your understanding of topics like Trump's ongoing criminal trial, alleged misconduct within the Federal Deposit Insurance Corp., industry succession planning and more.

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Thinking About How To Lessen Your Burden During Month-End Close? Skystem Can Help!

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.