Wed.Feb 28, 2024

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Morgan Stanley Supercharged Its Customer Journey. Learn How at Adobe Summit 2024!

Perficient

Adobe Summit 2024 is right around the corner, and we’re excited to sit down with the executive director of marketing applications at Morgan Stanley Dorothy Joseph on March 27 at 11:30 A.M PST at The Grand Lux Café in The Palazzo. Perficient’s Jay Jackson, director of Adobe Digital Marketing and CDP, will host a fireside chat with Joseph about the global financial services leader’s successful journey to consolidate and optimize the Adobe Experience Platform.

Analytics 465
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Discover deal may trigger more competition

Payments Dive

The merger at least raises the possibility that there won’t be two card networks that dominate the future of tokenized transactions, writes one fintech lawyer.

Fintech 398
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Perficient Interviewed for Forrester: The Future Of Insurance

Perficient

With new risks, shifting market dynamics, and the unstoppable march of technology, the insurance industry finds itself at a crossroads. The imperative for transformation has never been clearer, and this is highlighted in Forrester’s report, The Future Of Insurance. Embracing Change The report states, “The business of insurance is in a heightened state of transformation…,” and insurance leaders must proactively “…change their business models, products, and processes over the com

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Capital One tackles Discover compliance issues

Payments Dive

Capital One is betting the resolution of Discover’s compliance issues will take longer and cost more than expected, Capital One CEO Richard Fairbank said.

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Digital Transformation: Accelerating ROI and Growth in Commercial Lending

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

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FTC warns “quietly changing” privacy policies may be an unfair or deceptive practice

CFPB Monitor

The FTC published guidance warning companies that “[i]t may be unfair or deceptive for a company to adopt more permissive data practices—for example, to start sharing consumers’ data with third parties or using that data for artificial intelligence (AI) training—and only inform consumers of this change through a surreptitious, retroactive amendment to its terms of service or privacy policy.” .

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Nominations open for Bank Customer Experience 2024 Awards

ATM Marketplace

Nominations are officially open for the 2024 Bank Customer Experience Awards, which will be presented at the jointly held Bank Customer Experience Summit and Interactive Customer Experience Summit from Sept. 9 to 11 in Charlotte, North Carolina.

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CFPB revises supervisory appeals process

CFPB Monitor

The CFPB has revised its internal supervisory appeals process for institutions seeking to appeal a compliance rating or an adverse material finding. The revisions became effective immediately upon publication in the Federal Register on February 22, 2024. As an initial matter, the revised appeals process references the “Supervision Director” rather than the “Associate Director” (for supervision, enforcement, and fair lending). .

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Anchorage Digital launches institutional self-custody wallet

American Banker

The San Francisco-based technology company says its new product, Porto, will let investors securely trade more than 200 currencies using multilayered approval systems and biometric credentials.

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New York DFS Issues Guidance on Climate Change Risks for Financial Institutions

CFPB Monitor

On December 21, 2023, the New York Department of Financial Services (“DFS”) published guidance (the Guidance) to assist regulated institutions in assessing and managing their climate-related financial and operational risks. This is a follow up to DFS’s previous letter published in October 2020, which highlighted the impact of risks from climate change on its regulated institutions.

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The State of Automation in Financial Services 2024 Report

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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The budding promise of tokenization in banking

American Banker

Large global banks are experimenting with tokenization to make complex transactions faster, efficient and more auditable.

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What bank execs are saying about embedded finance

BankInovation

LONDON — Will embedded finance technology usher in a new era of banking, or is the impact of the technology overblown? Bank executives from ClearBank, Deutsche Bank and Raiffeisen Digital Bank weighed in at FinovateEurope this week. ClearBank Head of Embedded Banking Paul Staples at $3.

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Green Dot sets aside $20 million after draft AML order from Fed

American Banker

The Austin, Texas, bank and fintech says the Federal Reserve has proposed a consent order that would require it to strengthen compliance shortcomings, including anti-money-laundering controls.

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Canadian transactions: RBC acquisition of HSBC Canada set to close March 28

BankInovation

Royal Bank of Canada’s deal to acquire HSBC Canada for $10 billion, announced in November, is expected to close on March 28. The bank announced last quarter that conversion activities would likely begin April 1, according to an RBC release.

Retail 72
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Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance

Commercial lending is on the verge of a resurgence, but traditional processes are an obstacle. Explore the top 3 reasons for resistance to digital transformation and how overcoming them can pave the way for growth and efficiency. Discover why embracing automation and digital solutions is crucial for success in today's competitive landscape. Discover how GoDocs helps commercial lenders in the digital era with seamless integration and a borrower-focused approach.

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Samsung may add payments to smart ring, Amazon gets a license in India

American Banker

Samsung has launched the Galaxy Ring, a wearable device that might support Samsung Pay, while Amazon has received a payment aggregator license in India.

Samsung 81
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National Bank of Canada prioritizes cost management in Q1

BankInovation

National Bank of Canada focused on cost management and overall efficiency as it boosted tech spend and pulled back on headcount in the first quarter of 2024. Tech spend grew 3.6% year over year to $CA259 million ($190 million) for the quarter ended Jan.

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Jeremy Hunt to announce UK government sale of NatWest shares

TheGuardian

State’s one-third share in the bank, now worth about £6.7bn, is left over from the 84% holding taken during the 2008 financial crisis The UK government will look to raise as much as £3bn-£4bn from selling a chunk of its shares in NatWest bank to the public in a measure expected to be announced by the chancellor in his budget next week. Jeremy Hunt said in his autumn statement last year that he would “explore options” for a retail offering of part of the state’s remaining one-third share in the b

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Mastercard launches new Open Banking product

The Paypers

Mastercard has announced the launch of its new Open Banking programme, aimed to optimise the debit and prepaid digital account opening experience for US clients.

US 73
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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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Beyond Transactions: Viewing Customers as Partners

Realwired Appraisal Management Blog

“What’s the one thing I can do today that will make you twice as happy with us?” At Realwired, we’re asking that question. As a Chief Appraiser, ask these questions to your customer. For fee appraisers, send your bank customers this e-mail: “Thank you so much for being a customer.

US 59
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Cash stuffing versus girl maths: how do people budget in a digital world?

BankUnderground

Zahra Damji and Eleanor Hammerton The best purchases in life are free. How’s that possible, you ask? Well, pay with cash of course! The idea that anything bought with cash is free because the money is spent when you make the withdrawal, not when you make the purchase, is one example of the TikTok phenomenon #girlmath. This belief, which is not gender or age specific, contradicts headlines that suggest people are switching to cash to help them with budgeting.

Survey 57
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20 bank M&A deals with the largest target asset volume in 2023

American Banker

The top five bank M&A deals had a combined target asset volume of more than $480 billion

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UK government in talks with brokers to help market NatWest shares to public

TheGuardian

Ministers are exploring possible options for selling down stake in bank to retail investors Business live – latest updates The UK government is understood to be in talks with brokers including AJ Bell and Hargreaves Lansdown to help it market shares in NatWest to retail investors as it explores possible options for selling down its stake in the bank.

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Top 10 Benefits of Automating Loan Modifications for Commercial Lenders

Get ready for the wave of $1.2 trillion in commercial debt maturing in the next 24 months with GoDocs' ModDocs® platform. Traditional loan modifications are slow, expensive, and prone to errors, which put lenders at risk. But with ModDocs®, you can enjoy an innovative solution that eliminates attorney fees, allows on-the-fly loan modifications, and ensures compliance.

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Gold ATM delivers gold-backed currency

ATM Marketplace

Jorge Fernandez of Genesis Coin talks about the new Gold ATM in a live product demo.

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PayU GPO launches self-onboarding tool for Peruvian SMEs

The Paypers

Online payment service provider PayU GPO has launched a self-onboarding tool to support Peruvian small and medium enterprises (SMEs).

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What's on deck for American Banker's Payments Forum?

American Banker

Will AI erase jobs? How can you jumpstart a stagnant career? And what's the latest with real-time transaction processing? The industry's top executives will gather on March 27 and 28 in Hollywood, Florida, to dive into these issues and many others.

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Klarna discusses USD 20 billion IPO

The Paypers

AI-enabled global payment provider and shopping assistant Klarna has proceeded with its strategy for a potential US listing for a valuation of USD 20 billion.

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2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

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.