November, 2023

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The Four Pillars of Smarter Bank Leadership

Gonzobanker

Financial institutions standing in 2030 will have completed a significant and gut-wrenching transformation of their leadership talent. Every year, digitization further rattles the relevancy of the traditional hierarchical banking organization. In the throes of managing balance sheets and loan portfolios and at the same time executing daily “run the bank” operations, bankers are faced with the need to continuously develop new customer experiences and scale enterprise capabilities.

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5 potential catalysts for community bank earnings in 2024

American Banker

Bankers are hopeful that several factors could strengthen profits next year, including higher loan demand and more stable funding costs as the Fed holds the line on — or even lowers — interest rates.

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Podcast: Building trust by bringing the bank into the workplace

ABA Community Banking

"When we're able to take banking the them, at a place where they already have trust with their employer, that's a bridge," says Jennifer Huffman of Atlantic Union Bank's workplace banking product. "From there we're able to grow that relationship." The post Podcast: Building trust by bringing the bank into the workplace appeared first on ABA Banking Journal.

Resources 105
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Are Digital Banks Outpacing Smaller Financial Institutions?

SWBC's LenderHub

In our modern, digital world, the financial landscape is evolving—and fast. Today’s money moves at the speed of the Internet, which means banking isn’t what it used to be.

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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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Benefits of a Multilingual Digital Banking System

Jack Henry

The benefits of a multilingual digital banking system go far beyond expanding a Financial Institution’s customer base. Click to learn more.

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We smashed the windows of a major bank. A jury acquitted us. This is why | Gully Bujak

TheGuardian

I think people everywhere, even on juries, have had enough of our leaders’ failure to tackle the climate crisis In 2021, I was arrested with eight other women for breaking the windows at HSBC’s headquarters in London. On Thursday, after just two hours of deliberation, a jury of our peers found all nine of us not guilty of nearly half a million pounds in criminal damage.

US 111
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Deutsche Bank looks to gen AI for coding, CX

BankInovation

Deutsche Bank is exploring generative AI within its operations as it looks to third-party startups to develop the technology. “Artificial intelligence is one of the most important technology trends for the financial industry, with significant potential to make business processes more efficient,” a Deutsche Bank spokesperson told Bank Automation News.

Trends 110
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Eurozone banks starting to show ‘stress’ as loan defaults rise, ECB warns

TheGuardian

Rising interest rates have boosted profitability but are likely to limit demand and increase risk of bad debts, says central bank The balance sheets of eurozone banks are showing “early signs of stress” after a rise in loan defaults and late payments by customers, the European Central Bank has warned. Higher interest rates have boosted banks’ income and profits for the time being, the ECB said, but lenders are facing pressures from higher funding costs, worsening asset quality and lower lending

Lending 139
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Block to shrink workforce

Payments Dive

The company plans to cut about 8% of its workforce over the next year as Jack Dorsey steps up his efforts to improve efficiency and revive profits.

Company 534
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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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Here’s How Some Banks and Credit Unions Are Growing Deposits

Gonzobanker

To develop an effective, low-cost deposit growth strategy, take some tips from the high performers. Deposit retention and growth is strategic priority #1 in the banking industry today. But although financial institutions need a long-term strategy for a near-term challenge, playing the “rate game” is a race to the bottom. Finding growth has been a rough slog for banks and credit unions throughout 2023.

Strategy 158
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FTC targets deceptive practices in merchant cash advance case

CFPB Monitor

The Federal Trade Commission recently prevailed on summary judgment in a case against Jonathan Braun and his company RCG Advances, LLC. The product at issue, merchant cash advances, generally provide small businesses with critical and timely financing, and there was no dispute that the defendants gave these businesses upfront lump-sums of money in exchange for the right to collect future receivables. .

Company 212
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Are You Making Enough Money? Secret Formula for Financial Success Unveiled!

BankBazaar

If your job satisfaction were a pizza, would it be a delicious p epperoni or a sad, limp slice left on the counter overnight? Your career should be more satisfying than waiting for a pizza delivery on a Friday night, agree? Money – the ultimate puzzle that keeps us up at night. We’ve all wondered whether we are making enough or just collecting colourful paper for a high-stakes Monopoly game.

Cards 143
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2023 ATM & Self-Service Software Trends

ATM Marketplace

The ATM and self-service industry is here to stay, but it’s no longer business as usual. We are at the cusp of a self-service revolution where market players are required to be more efficient, innovative and customer-centric than ever before. Download this report to learn more about ATM and self-service trends in 2023.

ATM 143
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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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AI could cause ‘catastrophic’ financial crisis, says Yuval Noah Harari

TheGuardian

Historian and Sapiens author says sophistication of technology makes it difficult to forecast its dangers Artificial intelligence could cause a financial crisis with “catastrophic” consequences, according to the historian and author Yuval Noah Harari , who says the technology’s sophistication makes forecasting its dangers difficult. Harari told the Guardian a concern about safety testing AI models was foreseeing all the problems that a powerful system could cause.

System 111
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Visa warns consumers about holiday fraud

Payments Dive

Better spelling on fake merchant sites and more advanced card skimmers are among the latest schemes that will be deployed by fraudsters during the year-end holiday shopping season.

Fraud 435
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Schwarzenegger’s Wisdom: Elevating Appraisers

Realwired Appraisal Management Blog

If you know your potential exceeds your current results, take pause. Be Useful: Seven Tools for Life by Arnold Schwarzenegger provides a roadmap to improve our personal and professional lives. “Be hungry for success, hungry to make your mark, hungry to be seen and to be heard and to have an effect.

Tools 105
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Executive Order on artificial intelligence includes actions impacting consumer financial service providers

CFPB Monitor

On October 29, the Biden Administration issued a broad Executive Order (Order) on artificial intelligence (AI). Titled “Executive Order on the Safe, Secure, and Trustworthy Development and Use of Artificial Intelligence,” the Order establishes guidelines for AI safety and security, aims to shield Americans’ data privacy, and emphasizes equity and civil rights. .

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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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Profits in a time of inflation: what do company accounts say in the UK and euro area?

BankUnderground

Gabija Zemaityte and Danny Walker Inflation has been high in many countries since 2021. Some have said that companies have increased their profits over that period: so-called ‘greedflation’. We use published company accounts for thousands of large listed companies to look for signs of increased profits in the data. Consistent with previous analysis of aggregate incomes , price indices and business surveys , we find no evidence of a rise in overall profits in the UK – prices have gone up alongsid

Company 100
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How cash-in-transit ensures a resilient cash cycle

ATM Marketplace

In times of crisis and uncertainty, cash plays an important stabilizing role. A resilient cash cycle that ensures a reliable supply is therefore essential. Cash-in-transit companies can make a decisive contribution to this.

Company 138
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Alistair Darling was a rare exception: a politician who got things done

TheGuardian

As chancellor during the financial crisis he showed great wisdom and courage, and he played a huge part in keeping the UK intact in the Scottish referendum The news of Alistair Darling’s death on Thursday came as a terrible shock to us all. A statesman of unimpeachable integrity and a man driven by a deep sense of social justice, twice in his career he stepped up when his country needed him and demonstrated a level of wisdom, courage and calmness that is granted to only the most exceptional of p

National 136
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The Clearing House nabs top Fed official

Payments Dive

The new hire is tasked with boosting adoption of The Clearing House’s RTP real-time payments system, as the new rival Federal Reserve FedNow system seeks to attract clients.

System 434
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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.

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10 Budget Strategies for Chief Appraisers

Realwired Appraisal Management Blog

When your bank says “no new initiatives” does that mean all productivity ideation halts? Reframe “no new initiatives” into a “train in the off-season” mindset. Be a leader for your team. Limited resources can curb banks’ innovation and competitiveness. Your appraisal management technology partner is potentially key to bridging the gap.

Strategy 102
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The New CRA: Understanding the final rule and its impact on large, intermediate, and small banks; Ballard Spahr to hold webinar on Dec. 6

CFPB Monitor

This is our third blog post on the final rule issued on October 24, 2023 by the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency amending their regulations implementing the Community Reinvestment Act (“CRA”) (the “Final Rule”). .

Community 147
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Union Bank Continues its Support of Northeastern Vermont Regional Hospital with $100,000 Donation for ER Expansion

Ublocal

When the Northeastern Vermont Regional Hospital emergency room opened 50 years ago, it was serving about ten patients per day. Over the past five decades health care needs have changed, and the ER now serves an average of 38 patients each day, with some days seeing up to 50 to 60 patients. This dramatic increase in patient visits has caused an enormous strain on the facility and presented daily challenges for its dedicated staff.

Vermont 98
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How can banks improve customer communication?

ATM Marketplace

Are banks communicating effectively? How are they reaching underserved populations? Mack Turner, president and owner of Mack Turner Consulting and Insights, discussed this in detail in today's podcast.

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How to Stay Competitive in the Evolving State of Martech

Marketing technology is essential for B2B marketers to stay competitive in a rapidly changing digital landscape — and with 53% of marketers experiencing legacy technology issues and limitations, they’re researching innovations to expand and refine their technology stacks. To help practitioners keep up with the rapidly evolving martech landscape, this special report will discuss: How practitioners are integrating technologies and systems to encourage information-sharing between departments and pr