February, 2023

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Payments firms gear up for new ISO standard

Payments Dive

The Clearing House and other payments players, including Swift, are readying for the March rollout of a international payments standard.

Payments 514
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Brad Bolton: Keep advocating

Independent Banker

Photo by Chris Williams I am grateful to have had the opportunity to serve as chairman. I will continue to advocate for community banking, and for the rest of my career, stand side by side with you to fight our future battles. Serving as ICBA chairman has been one of the highest honors of my life. It’s hard to put into words how special this experience is.

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Credit card debt surpasses pre-pandemic levels: Fed

Payments Dive

Despite a pause in payments required for federal student loans, younger borrowers particularly are showing higher credit card delinquencies.

Cards 434
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A Bank Automation Summit Preview: Key 2023 Banking Automation Trends

Perficient

Perficient is looking forward to bringing our unique combination of automation technical know-how along with financial services and payments industry expertise to the Banking Automation Summit in Charlotte, North Carolina on March 2-3. The Summit brings together experts in the field, including bank executives, technology vendors, and consultants, to discuss the latest advancements in automation and its impact on the banking industry.

Trends 474
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Managing Default Rates: A Balancing Act in a Multistate Lending Environment

Unlock the secrets to optimizing returns while navigating complex state regulations. With this webinar, gain exceptional insights from industry leaders, each with vast experience and expertise in commercial lending. They will delve into critical aspects of managing default rates in today’s dynamic lending landscape, including the formidable task of managing default rates across diverse states, each with its own legal intricacies and restrictions.

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SASE – Necessary for the Future of Work

Cisco

Gartner first coined the term secure access service edge (SASE) in 2019. No one could have predicted how important and quickly SASE would become relevant to almost every business in order to function. With financial institutions digital transformation plans, the move to the cloud for many applications only heightened the interest and need. SASE is about delivering networking and network security controls at the edge as close to the users as possible.

More Trending

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UK MPs and peers find HSBC complicit in Hong Kong human rights abuses

TheGuardian

Bank sided with China in denying pension payouts to people who fled crackdown, says all-party group HSBC is complicit in human rights abuses against Hong Kong residents by siding with Chinese authorities and denying pension payouts to those who fled the authoritarian crackdown, an inquiry by peers and MPs has concluded. The report by the all-party parliamentary group (APPG) on Hong Kong took issue with the fact that banks including HSBC – which help to manage the compulsory pension fund that all

Groups 133
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New ICBA chairman Derek Williams’ commitment to community

Independent Banker

Derek Williams, president and CEO of Century Bank & Trust in Milledgeville, Ga., wanted to be a financier before finding his way to community banking. Photo by Harold Daniels Derek Williams, president and CEO of Century Bank & Trust in Georgia, is bringing his passion for community banking to his term as ICBA chairman for 2023/24. By Roshan McArthur Derek Williams is, he says, excited, honored and humbled to make his debut as ICBA chairman at ICBA LIVE.

Community 172
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FedNow aims to avoid Zelle-type fraud

Payments Dive

As the Federal Reserve prepares for a mid-year launch of its instant payments system, FedNow, it’s zeroing in on anti-fraud tools to protect users.

Fraud 468
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How ServiceNow Financial Services Operations (FSO) is Revolutionizing the Financial Industry

Perficient

What is ServiceNow Financial Services Operations (FSO): Financial Services Operations (FSO) is an out-of-box offering by ServiceNow utilizing its existing platform custom-tailored to the use cases for Financial Institutions providing a comprehensive solution for managing operations end-to-end. ServiceNow’s FSO allows financial institutions to automate core operational processes, through pre-built applications and workflows that streamline operations across all departments from front to back offi

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The ROI of Business Lending Platforms

Financial institutions continue to look to quantify the impact of new technologies. Meanwhile, business lending technologies have grown more popular in the industry. However, understanding the impact of said technologies means understanding how to increase your revenue while decreasing your costs. This is key for the growth of your organization. Biz2X created this eBook to analyze the ROI of business lending platforms and learn about the short-term and long-term benefits of said platforms.

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3 issues with cashless payments

ATM Marketplace

If you search the word cashless on Google, you will get a flood of articles heralding it as the way of the future in payments. While cashless payments can be useful, they still have issues.

Payments 122
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VA Reduces the Funding Fee for Certain VA Loans

CFPB Monitor

In Circular 26-23-06 , the U.S. Department of Veterans Affairs (VA) announced reduced funding fees for purchase, construction and cash-out refinance loans guaranteed by the VA that are closed on or after April 7, 2023. The current funding fee amounts for loans closed prior to April 7, 2023, are set forth in Exhibit A to the Circular. .

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NatWest CEO receives £5.2m in pay as bank reports largest profits since 2007

TheGuardian

Alison Rose becomes group’s second-highest-paid boss after disgraced ex-banker Fred Goodwin The chief executive of NatWest, Alison Rose, received a £5.2m pay packet in 2022, becoming the bank’s second-highest-paid boss after the controversial ex-banker Fred Goodwin, after the lender reported its largest profit since before the 2008 financial crisis.

Report 127
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Fascinating laser research projects you wish you thought of (Part 1 of 9): Cisco Optics Podcast Ep 35

Cisco

Episode 35 of the Cisco Optics Podcast is now posted! See below for episode notes. Cisco Optics Podcast Episode 35 Fascinating laser research projects you wish you thought of, with Juliet Gopinath.

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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

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FIS plans to spin off merchant unit

Payments Dive

The payments processor plans to spin off its merchant business, which will reclaim its Worldpay name, and appointed its former CEO, Charles Drucker, to lead the unit.

Payments 418
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Revolutionizing the Way We Pay: The Top Payment Industry Trends You Need to Know in 2023

Perficient

Across industries, consumers are communicating the same demands; they see the thing, they want the thing, and they want it in their hands within hours, if possible. And if it’s not possible, they wonder why not since it usually is through Amazon. Because money is what makes the world go-’round, the payments industry has responded to this heightened sense of urgency from consumers to get ahold of merchandise, services, and funds seamlessly, immediately, and with little to no human interacti

Payments 471
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How will central bank digital currency impact ATMs?

ATM Marketplace

With many countries examining central bank digital currencies, a question emerges: How will this impact ATMs and cash usage?

ATM 140
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HUD Announces 30 Basis Point Reduction in Annual FHA Mortgage Insurance Premium

CFPB Monitor

HUD recently announced a reduction to the annual mortgage insurance premium charged to borrowers with FHA-insured loans. HUD estimates that the reduction will save FHA borrowers on average $800 annually. HUD also released Mortgagee Letter 2023-05 addressing the premium reduction, and a Factsheet addressing other steps that HUD has taken to make homeownership more affordable. .

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Value-Driven AI: Applying Lessons Learned from Predictive AI to Generative

Speaker: Data Robot

Enterprise AI maturity has evolved dramatically over the past 5 years. Most enterprises have now experienced their first successes with predictive AI, but the pace and scale of impact have too often been underwhelming. Now generative AI has emerged and captivated the minds and imaginations of leaders and innovators everywhere. Join our DataRobot experts to reflect on lessons learned from helping hundreds of enterprises grow their AI maturity over the past 5 years.

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Podcast: A classic love story gets its start in a D.C. bank branch

ABA Community Banking

For Valentine's Day, the ABA Banking Journal Podcast brings you a classic bank-meets-girl-meets-boy love story. The post Podcast: A classic love story gets its start in a D.C. bank branch appeared first on ABA Banking Journal.

Meeting 119
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Riots erupt in Nigerian cities as bank policy leads to scarcity of cash

TheGuardian

Angry protesters attack ATMs and block roads in frustration at lack of new banknotes days before election Rioters have attacked bank ATMs and blocked roads in three Nigerian cities as anger spilled on the streets over a scarcity of cash, just days before the country’s general election. Nigeria has been struggling with a shortage in physical cash since the central bank began to swap old bills of the local naira currency for new ones, leading to a shortfall in banknotes.

ATM 99
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Toast acquires drive-thru tech company

Payments Dive

Adding Delphi Display Systems’ technology helps Toast more broadly serve its quick-service restaurant customers, the company’s executives said.

Company 431
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Meet The 2023 FICO Decisions Awards Winners!

FICO

Home Blog FICO Meet The 2023 FICO Decisions Awards Winners! 15 companies recognized for successful innovation in AI, machine learning and decision management Saxon Shirley Mon, 02/27/2023 - 08:09 by Nikhil Behl expand_less Back To Top Mon, 02/27/2023 - 08:00 2023 FICO Decisions Award Winners - Decisions That Matter It's with great enthusiasm that I reveal the victors of the 2023 FICO® Decisions Awards !

Meeting 98
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Banking on Loyalty: Holistic Financial Advice for Unparalleled Business Growth

Speaker: Joe Buhrmann, MBA, CFP®, CLU®, ChFC® Senior Financial Planning Practice Management Consultant eMoney Advisor

During an era of evolving consumer preferences, the banking sector is undergoing a profound shift. As customers continue to broaden their perspectives, banking professionals must support their customers' financial wellness by providing holistic financial advice that aligns with individual goals and circumstances. Without adapting, financial institutions will find that loyalty may crumble amid uncertainty.

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How to fight growing ACH fraud

BankInovation

The automated clearing house payment system reaches all U.S. bank accounts and is an extremely cost-effective way to move money. This helps explain the ACH Network’s steady growth. Nacha says the ACH Network processed 7.6 billion in payments worth $19.2 trillion in the third quarter of 2022. Meanwhile, ACH same-day payments reached 176.

Fraud 98
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SCOTUS agrees to decide whether CFPB’s funding is unconstitutional but will not hear case until next Term

CFPB Monitor

The U.S. Supreme Court has granted the certiorari petition filed by the CFPB seeking review of the Fifth Circuit panel decision in Community Financial Services Association of America Ltd. v. CFPB. In that decision, the Fifth Circuit panel held the CFPB’s funding mechanism violates the Appropriations Clause of the U.S.

America 147
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ABA, National Bankers Association hold first MDI partnership summit

ABA Community Banking

During the first MDI Partnership Summit held this week in Orlando, Florida, participants from minority depository institutions and banks across the country gathered to discuss approaches to better serve the unique banking needs of communities of color and low- to moderate-income communities. The post ABA, National Bankers Association hold first MDI partnership summit appeared first on ABA Banking Journal.

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The sanctions war against Russia: a year of playing cat and mouse

TheGuardian

Early claims Moscow would buckle quickly proved hubristic, yet Putin has also made miscalculations “The Russian economy is on track to be cut in half,” Joe Biden said in March last year, as he heralded sanctions brought against Russia after its full-scale invasion of Ukraine. Annalena Baerbock, the German foreign minister, vowed that sanctions were “hitting the Putin system … at its core of power”.

System 98
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From Complexity to Clarity: Strategies for Effective Compliance and Security Measures

Speaker: Erika R. Bales, Esq.

When we talk about “compliance and security," most companies want to ensure that steps are being taken to protect what they value most – people, data, real or personal property, intellectual property, digital assets, or any other number of other things - and it’s more important than ever that safeguards are in place. Let’s step back and focus on the idea that no matter how complicated the compliance and security regime, it should be able to be distilled down to a checklist.