March, 2024

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Time to TikTok?

ABA Community Banking

The popular app is where Gen Z goes for trends, news and even financial advice. Here’s how some banks are using TikTok and platforms like it for education. The post Time to TikTok? appeared first on ABA Banking Journal.

Trends 98
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Looking back: The fall of crypto giant Sam Bankman-Fried

American Banker

Once a prominent figure spurring financial institutions to engage in cryptocurrency, Bankman-Fried's downslide began with the collapse of the digital asset exchange FTX in late 2022 and hit rock bottom with his sentencing to 25 years in prison.

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Influencer Marketing: Is the ROI Worth it for Community Banks?

The Financial Brand

This article Influencer Marketing: Is the ROI Worth it for Community Banks? appeared first on The Financial Brand. Big banks have already tested the waters when it comes to advertising with influencers — but there's a few considerations community banks should make before diving in. This article Influencer Marketing: Is the ROI Worth it for Community Banks?

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Banks Should Make 2024 a True ‘Year of Digital’

Gonzobanker

Banks and credit unions won’t find a perfect digital vendor. What they can find is the right partner to fulfill their strategic needs. 2024 will prove to be a remarkably busy year in the digital space, when many financial institutions will make near-life-or-death choices about the future of their digital platforms and how they will support them.

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Live Demo: How to Achieve Reconciliation Zen

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

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Non-bank ATMs have hidden opportunities amid challenges

ATM Marketplace

IADs have taken big hits in recent years, but consumers still want their services. This industry has a lot of untapped potential, if they take certain strategic steps for success.

ATM 123

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Banking apps fall short on fraud protections: report

Payments Dive

Consumer Reports Senior Director Delicia Hand said preventing fraud and scams is "crucial" for traditional and digital banks alike, as more of their customers use their mobile apps.

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AI's next big step for banking is data processing: First Internet Bank CEO discusses

ATM Marketplace

First Internet Bank CEO David Becker believes that banks should take a "forward looking approach" with AI, especially in the area of data processing.

Data 119
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Credit union to buy second bank, expand in Washington state

American Banker

Sound Credit Union said it would acquire Washington Business Bank in a cash deal slated to close in the fourth quarter.

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Now is the time to reimagine wealth management

BankInovation

The Music is Starting to Stop Recent years have been extremely lucrative for wealth advisors; both the independents and full-freight firms. Low cost of capital, booming public markets, and a growing desire to diversify into new products are all ways wealth management firms can grow AUM and, as a result, grid payouts.

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New York Lien Law Essentials: 5 Key Facts for Commercial Lenders

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.

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36 Hours at Fintech Meetup: Three Themes from the Las Vegas Event

Gonzobanker

It happened this week: Fintech Meetup , one of the newer trade events that brought 4,000 or so fintech and banker types to Las Vegas. The striking thing about the conference was not the magician hired to walk around the booths during Monday’s reception or the illustrator seated right next to a sign created by artificial intelligence on Sunday’s welcome gathering, it was the event’s meeting pit: a section in the exhibit hall that was dedicated to taking short meetings that the mobile app as

Las Vegas 147
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SCOTUS oral argument in Cantero v. Bank of America provides no clear indication of likely outcome; Ballard Spahr to host April 3 special webinar roundtable on Cantero oral argument

CFPB Monitor

On February 27, 2024, the U.S. Supreme Court heard oral argument in Cantero v. Bank of America, N.A. , a case involving the effect of the Dodd-Frank Act on the scope of preemption under the National Bank Act (NBA). The question before the Court is whether, post-Dodd-Frank Act, the NBA preempts a New York statute requiring banks to pay interest on mortgage escrow accounts. .

America 136
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Visa spends ‘billions’ battling cybersecurity threats

Payments Dive

“We are all in an arms race to protect this ecosystem, to protect the network,” Visa CEO Ryan McInerney said at an investor conference last week.

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Markup matters: monetary policy works through aspirations

BankUnderground

Tim Willems and Rick van der Ploeg Since the post-Covid rise in inflation has been accompanied by strong wage growth, interactions between wage and price-setters, each wishing to attain a certain markup, have regained prominence. In our recently published Staff Working Paper , we ask how monetary policy should be conducted amid, what has been referred to as, a ‘battle of the markups’.

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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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AI will transform banking

ATM Marketplace

Banks can use AI to improve customer experiences and provide a more personalized touch to their services, to streamline bank branch management and bolster security, creating the bank of the future.

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KeyBank 2-3 years from gen AI features for customers

BankInovation

Both KeyBank and PNC Bank are exercising caution in how they roll out generative AI to their customers. The models need to be refined for accuracy before consumers can be the “prompters,” or questioners, for gen AI-driven features, Dominic Cugini, chief transformation officer at $185 billion KeyBank, said at Bank Automation Summit U.S.

Exercises 113
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Banks driving increase in global meat and dairy production, report finds

TheGuardian

Financiers providing billion-dollar support for industrial livestock companies to expand leading to unsustainable rise in production Billion-dollar financing is driving unsustainable increases in global meat and dairy production, a report has found. Global meat production rose 9% between 2015 and 2021, the report said, while dairy production increased 13% in that time.

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When Data Speaks, Do You Listen? The Power of Data-Driven Storytelling in PR and Marketing

William Mills

In a time where information reigns supreme, the strategic use of proprietary data in PR and marketing is not just an advantage — it's essential. As data-driven storytelling has become a cornerstone for success, PR and marketing professionals must learn how to properly gather, analyze and derive this information to help create stronger messages, bring more credibility, and garner greater media attention for clients.

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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.

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Digital wallets to overtake debit cards in stores: report

Payments Dive

Having already dominated e-commerce transactions, digital wallets are projected to overtake at least one traditional form of payment in stores, according a Thursday report by Worldpay.

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New money, old money

BankUnderground

David Rule and Iain de Weymarn Technologies such as distributed ledgers create the possibility of new forms of digital money, whether privately-issued ‘stable coins’, tokenised commercial bank deposits, or central bank digital currencies. Authorities are considering a world where digital money circulates alongside existing forms of money. In the past, the nature of money has often changed.

Taxes 101
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Fed's Barr working with Powell to find consensus on Basel III

American Banker

The Federal Reserve's vice chair for supervision says the board is discussing ways to address the various concerns banks have raised about the capital reform proposal.

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LemonadeLXP wins inaugural Demo Challenge

BankInovation

NASHVILLE, Tenn. — Digital banking service provider LemonadeLXP won the inaugural Demo Challenge at Bank Automation Summit U.S. 2024. Nine financial services technology startups showcased their latest innovations with technology leaders and executives at the March 19 event.

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Addressing Top Enterprise Challenges in Generative AI with DataRobot

The buzz around generative AI shows no sign of abating in the foreseeable future. Enterprise interest in the technology is high, and the market is expected to gain momentum as organizations move from prototypes to actual project deployments. Ultimately, the market will demand an extensive ecosystem, and tools will need to streamline data and model utilization and management across multiple environments.

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Take it from a former banker: the budget is for ordinary people. The mega-rich look on and laugh | Gary Stevenson

TheGuardian

Whatever Jeremy Hunt says, traders know the rich will get richer and the poor will get poorer. And they’re paid millions to bet on it In May 2010, I lost $8m in a week. I was 23 years old. Back then, I was an interest rates trader for Citibank in Canary Wharf. I had won that job only three years earlier in a card game while I was a maths student at LSE.

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AI's next big step for banking is dating processing: First Internet Bank CEO discusses

ATM Marketplace

First Internet Bank CEO David Becker believes that banks should take a "forward looking approach" with AI, especially in the area of data processing.

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Meta’s payment plays may pay off this year: report

Payments Dive

A partnership between tech giants Meta and Amazon “could represent the tipping point of transforming social media into a transaction platform,” Mizuho Securities analysts said in a report this week.

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Fintech Meetup Stays True to Its Mission: Making Connections

William Mills

We all cherish those networkers with a superpower for connecting people. Now there’s a conference that’s honed in on meeting the need: Fintech Meetup. Here’s our take on the show.

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Need Curated Pre-foreclosure Lists to Generate New Real Estate Leads? Trellis Has the Data!

Trellis is a state trial court research and analytics platform that provides Real Estate Professionals (Buyers, Foreclosure, Loan Modification, etc.) with LEADS on Pre-Foreclosures, Lis Pendes, Distressed Assets and more — to help uncover **new** opportunities and grow their business. The process is quick and easy — and all in real time. Trellis will supply you with a link to the relevant dockets, a Leads sheet and access to its UI where applicable.