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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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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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.

More Trending

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FHFA Announces 2024 Conforming Mortgage Loan Limits

CFPB Monitor

The Federal Housing Finance Agency (FHFA) recently announced the conforming loan limits for residential mortgage loans acquired by Fannie Mae and Freddie Mac in 2024. Fannie Mae addresses the limits in Lender Letter 2023-09. As was expected based on the continuing increase in housing prices, the limits increased significantly. The standard loan limit for a one-unit home increased from $726,200 in 2023 to $766,550 for 2024.

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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 109
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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 112
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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 133
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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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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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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 155
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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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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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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 129
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Supply chain disruptions: shocks, links, and hidden exposure

BankUnderground

Rebecca Freeman, Richard Baldwin and Angelos Theodorakopoulos Supply chain disruptions are routinely blamed for things ranging from elevated inflation to shortages of medical equipment in the pandemic. But how should exposure to foreign supply chains be measured? Using a global input-output database, this post shows that the full exposure of US manufacturing to foreign suppliers (especially China) is much larger than face value measures indicate.

US 121
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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.

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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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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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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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Authentic experiences: How your brand can reach Gen Z for success and customer loyalty

ATM Marketplace

The APC Gen Z study found that Gen Z has five top demands from businesses and brands: 1. Authenticity. 2. PhysiDigital. 3. Experiential. 4. Custom. 5. Rewards.

Branding 123
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Global R*

BankUnderground

Ambrogio Cesa-Bianchi, Richard Harrison and Rana Sajedi Recent increases in interest rates around the world, following a multi-decade decline, have intensified the debate on their long-run prospects. Are previous trends reversing or will rates revert to low values as current shocks subside? Answering this question requires assessing the underlying forces driving secular interest-rate trends.

Trends 110
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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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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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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 104
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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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Hotel Mortgage Lenders: Your Gateway to Success 2023

Commercial Lending USA

In the dynamic world of hospitality, embarking on a journey of hotel ownership can be a highly rewarding venture. Yet, this path often demands substantial financial investments.

Lending 98
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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.