February, 2024

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6 Banking customer experience strategies for 2024

ATM Marketplace

Customer experience is a critical part of every business, as it builds customer loyalty and improves the overall brand image and equity. When looking at the retail bank customer experience, there are multiple considerations to keep in mind in 2024.

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How Fintech Is Disrupting Traditional Banks in 2024

The Financial Brand

This article How Fintech Is Disrupting Traditional Banks in 2024 appeared first on The Financial Brand. After a decade in the spotlight, fintech has had a bigger impact in some areas more than others. This article How Fintech Is Disrupting Traditional Banks in 2024 appeared first on The Financial Brand.

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Where will embedded payments flourish in 2024?

Payments Dive

There are three areas where embedded finance is a good fit, and they are characterized by high volume and frequent payments, writes one industry executive.

Payments 448
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8 Themes That Will Power a Fintech Comeback in 2024

The Financial Brand

This article 8 Themes That Will Power a Fintech Comeback in 2024 appeared first on The Financial Brand. Fintech suffered a near-death experience in the last two years. But the forces that drove its creation remain, and the survivors are stronger than ever. This article 8 Themes That Will Power a Fintech Comeback in 2024 appeared first on The Financial Brand.

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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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Six ways for board directors to reduce the ‘unknown unknowns’

ABA Community Banking

We don’t know what we don’t know — but now is the time to ask. The post Six ways for board directors to reduce the ‘unknown unknowns’ appeared first on ABA Banking Journal.

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3 predictions for the ATM Industry in 2024

ATM Marketplace

The ATM industry is constantly evolving to meet the changing needs of consumers. Going into this new year, several key trends are expected to shape the future of ATMs.

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Why ‘pay-by-bank’ faces adoption hurdles in US retail

Payments Dive

Pay-by-bank has been catching on only slowly, and it’s a particularly long shot for showing up at the point-of-sale anytime soon.

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Card debt climbs to record $1.13 trillion

Payments Dive

Consumers’ credit card debt rose nearly 5% in the fourth quarter, compared to the third quarter, adding to delinquencies as well.

Cards 397
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Banks unite to tackle AI risks with cybersecurity guidance

American Banker

A consortium of banks focused on cybersecurity has published a series of white papers aimed at navigating the challenges and opportunities of AI in the financial sector.

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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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ABA issues white paper on agency guidance and sends letters to regulators commenting on recently-issued guidance

CFPB Monitor

The American Bankers Association (ABA) has issued a new white paper , “Effective Agency Guidance: Examining Bank Regulators’ Guidance Practices,” that is intended to help agencies issue guidance that complies with legal requirements while providing useful advice and information to regulated entities. The ABA also sent letters to the FDIC and CFPB in which the white paper serves as the foundation for comments on recently-issued guidance that the ABA believes would benefit from public input.

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Scale Matters … But Smart Matters More

Gonzobanker

While growth and scale are helpful, bank leaders need to dive deeper into enterprise performance data to uncover the smart efficiency opportunities. Well folks, they’re back—the cries from the rooftops, in the media and at conferences that “Scale Matters” in our consolidating and technically transforming banking industry. A recent round of bank merger announcements and the marquee Capital One/Discover deal illustrate this mantra’s popularity.

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What's the future hold for IADs?

ATM Marketplace

Independent ATM operators have taken hits on multiple fronts the past years. With falling cash withdrawals, customer resistance to fees and acquisitions, there are many pressures on IADs. What does the future hold for these operators?

ATM 119
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BNY appoints Gerdeman as global head of data and analytics

BankInovation

BNY Mellon has appointed Julie Gerdeman as its global head of data and analytics. Gerdeman will be responsible for managing software and data for nearly $47 trillion of assets managed by BNY, according to a Feb. 20 release.

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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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Card networks to implement gun code in California: report

Payments Dive

Visa, Mastercard and American Express are moving forward with use of a new gun merchant category code for credit card purchases in California, according to CBS News.

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Lord Jacob Rothschild, financier and member of the banking family, dies at 87

TheGuardian

City grandee co-founded a number of firms and was also involved in the arts and philanthropy Lord Jacob Rothschild, the financier and scion of the Rothschild banking family, has died aged 87. The City grandee started his career at the family bank NM Rothschild & Sons in 1963 before co-founding a number of firms including J Rothschild Assurance Group, now St James’s Place, with Sir Mark Weinberg in 1980.

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VA Addresses Assumption Fees

CFPB Monitor

The U.S. Department of Veterans Affairs (VA) recently issued Circular 26-23-10, Change 1 , Circular 26-24-5 and an Exhibit to address fees that may be imposed in connection with the assumption of a VA-guaranteed home loan. The VA advises in the Circulars that the holder or servicer of a VA-guaranteed home loan with automatic authority may charge an assumption processing fee not to exceed $300.

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Forecasting UK inflation in the presence of large global shocks

BankUnderground

Dario Bonciani and Johannes Fischer The UK economy has been hit by significant terms-of-trade shocks, most notably the rise in energy prices following the Russian invasion of Ukraine. These shocks have created substantial and persistent inflationary pressure in many countries. Such upheavals bring increased uncertainty about the future, making macroeconomic forecasting more challenging.

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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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The gold revolution comes to ATMs

ATM Marketplace

Gold has long remained a stable asset and today that asset is coming to ATMs.

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Envestnet data and analytics revenue falls 7% YoY

BankInovation

Envestnet data and analytics revenue fell during its fiscal fourth quarter amid rumblings in December of a Yodlee sale. The wealthtech giant’s data and analytics revenue fell 7% year over year to $38.6 million during the quarter, according to its earnings presentation.

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Aldi debuts Grabango checkout tech at Chicago-area store

Payments Dive

The retailer is working with artificial intelligence startup Grabango to offer the service for the first time in the U.S. at a location in the Chicago suburb of Aurora, Illinois.

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Musicians walk out after London orchestra leaves them unpaid for months

TheGuardian

Emergency backup is called to enable London Chamber Orchestra event at Cadogan Hall to go ahead after protest over payment delays When the conductor Christopher Warren-Green picked up his baton to begin a concert in London’s Cadogan Hall last Wednesday, it was not clear what would happen. The earlier rehearsal with the London Chamber Orchestra (LCO) had not gone well.

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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.

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Ensuring a Sustainable Legacy: The Role of Wealth Management in Estate Planning

Ublocal

Effectively integrating all aspects of your financial picture—from retirement goals to philanthropic wishes—into your estate planning process isn’t always easy. This is especially true when you have accounts and investments at multiple financial institutions, as well as real estate and other assets. Wealth management is an integral part of successful estate planning, helping you locate and catalog your assets while maintaining and growing your wealth—so you can secure your legacy and provide for

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Mortgage affordability for borrowers who re-fixed in 2023

BankUnderground

Daniel Norris, Elio Cucullo and Vasilis Jacovides When borrowers enter a fixed-rate mortgage, lenders test whether they could continue to afford their mortgage if interest rates were to increase by the time it comes to re-fix. This ‘stressing’ is designed to create additional resilience for borrowers and the financial system. Over the last two years, mortgage rates have increased by over four percentage points, raising the cost of repayments for those re-fixing.

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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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First Bank CIO Thomas joins Bank Automation Summit U.S. 2024 speaker faculty

BankInovation

Terrence Thomas, executive vice president and chief information officer at First Bank, will speak at Bank Automation Summit U.S. 2024 on Monday, March 18, at 4 p.m. CT.

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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