June, 2024

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Judge sways away from Visa-Mastercard settlement

Payments Dive

On Tuesday, Judge Margo Brodie denied a preliminary settlement proposal made by the card networks Visa and Mastercard, and merchants who sued them in federal court nearly two decades ago.

Cards 444
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Balancing the human touch with AI — a Q and A with Marbue Brown

ATM Marketplace

Marbue Brown, author, consultant, and CX executive, shares strategies for balancing AI with the human touch in customer experience development, the topic of his panel at the ICX Summit in Charlotte, NC on September 9-11.

Charlotte 134
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The impact of generative AI in banking

Accenture

Following the release of our new report, “The age of AI: Banking’s new reality”, I sat down with my team to discuss how generative AI is reshaping the banking industry. It sparked an interesting conversation about current adoption journeys, strategic priorities, and the exciting possibilities ahead for banks. I thought I’d share some of the… The post The impact of generative AI in banking appeared first on Accenture Banking Blog.

Industry 299
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The Next Killer Digital Banking Feature Doesn’t Come from Being ‘Boring’

Gonzobanker

Bankers are not meant to be renegades, but now is not the time to shy away from deploying new ideas. Right now, one of the trendiest words in banking is living up to the industry’s stereotype — “boring.” Cue the Patagonia sweater vests and soft jazz music. According to a Businessweek article , the word boring has been used by bank execs and analysts at least a dozen times on banks’ conference calls as of May this year.

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How to Avoid Getting "Ghosted": 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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Podcast: Retail POS lending is an opportunity for lenders, Pagaya president says

BankInovation

Point-of-sale financing as an alternative payment method is a growing opportunity for lenders, technology company Pagaya’s President Sanjiv Das says on this episode of “The Buzz” podcast. According to auto lender and Pagaya partner Ally Financial, POS financing is expected to reach a value of more than $81 billion by 2030.

Lending 113

More Trending

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Apple unveils new iPhone touch and pay feature

Payments Dive

The P2P ‘Tap to Cash’, which enables iPhone users to transfer money by holding their phones together, was unveiled along with a slate of other features Monday.

Apple 448
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7 cash management, recycler strategies to follow

ATM Marketplace

Many Teller Cash Recycler brands have become obsolete with limited parts. Some are even at end of life and are a security risk. Here are seven tips for how to keep them up to date.

Strategy 106
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Five key success factors for commercial banks to scale generative AI

Accenture

Ella Fitzgerald was one of the first, in the ‘30s, to have a hit with the song ‘Ain’t What You Do, It’s the Way That You Do It’. The fact that legions of musicians have and continue to record it tells me there’s a universal truth there that most people recognize. This is certainly the… The post Five key success factors for commercial banks to scale generative AI appeared first on Accenture Banking Blog.

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Will the Recent Ticketmaster Data Breach Drive More Fraud for Banks and Credit Unions?

Gonzobanker

Add these action items to your card fraud checklist to strengthen your defenses. The hacker group ShinyHunters allegedly breached Ticketmaster’s data in late May 2024, including credit and debit card information for over 560 million consumers worldwide. That’s more than 2.5 times the prior largest breach of Experian a decade ago. So, what will happen to U.S.

Fraud 161
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Navigating the Automation Landscape: Selecting Tools That Fit Your Business

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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5 questions with … Morgan Stanley Head of AI Jeff McMillan

BankInovation

Morgan Stanley’s Jeff McMillan, head of firmwide artificial intelligence, is focused on developing and deploying AI throughout the operations of the $212 billion financial institution. The New York-based FI appointed McMillan to the newly created position March 14, he told Bank Automation News.

New York 115
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London investment bankers to rake in bigger bonuses after two-year slump

TheGuardian

Exclusive: Rise in dealmaking likely to be reflected in spring bonus season as interest rate hike cycle ends London’s investment bankers are expected to rake in bigger bonuses this financial year, as the City begins to recover from a two-year slump in deals caused by surging interest rates. Demand for investment banking services – such as facilitating mergers and acquisitions, advising companies and governments on fundraising, and underwriting new stock and bonds – was hit by a sharp increase in

Company 111
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Apple adds BNPL offerings from rivals

Payments Dive

The tech giant will allow installment plans from Affirm, as well from certain debit and credit cards, onto Apple Pay alongside its own BNPL service.

Apple 475
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Can we get a vote for protecting cash?

ATM Marketplace

One often ignored issue by politicians is the loss of in-person banking services. Politicians should address voters’ concerns about the decline in in-person access to cash and financial services.

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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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Appraisers Succeed or Fail Together

Realwired Appraisal Management Blog

My wife and I plus some friends recently sailed in a 500 mile race on our 36 foot catamaran to Mexico from Florida. This trip isn’t for the faint of heart. Pre-race weather report 25 knot winds gusting to 30 knots, 9 to 11 foot seas two days out on the Mexican side.

Florida 104
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Bridge Lending Solutions for Commercial Real Estate

Commercial Lending USA

Time is significant in the fast-paced world of commercial real estate. But what do you do when a great chance comes up but your stable bridge lending solutions still need to be implemented?

Lending 98
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BBVA plans to start digital bank in Germany to rival JPMorgan

BankInovation

Banco Bilbao Vizcaya Argentaria SA is planning to open a digital consumer bank in Germany, using existing technology to expand at relatively low cost. The project is led by Javier Lipuzcoa, the head of BBVA’s digital bank in Italy, according to people familiar with the matter.

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World’s top banks ‘greenwashing their role in destruction of the Amazon’

TheGuardian

Institutions alleged to have given billions of dollars to oil and gas companies involved in projects that are harming the rainforests Five of the world’s biggest banks are “greenwashing” their role in the destruction of the Amazon, according to a report that indicates that their environmental and social guidelines fail to cover more than 70% of the rainforest.

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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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Why a Visa-Mastercard settlement is likely to fall short

Payments Dive

The persistence of the networks’ ‘honor all cards’ rule may be a key reason Judge Margo Brodie is unlikely to approve a negotiated resolution of the two-decade-old case brought by merchants.

Cards 418
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How to avoid customer transformation pitfalls

ATM Marketplace

How can banks successfully deliver customer transformation initiatives? A panel at the upcoming Bank Customer Experience Summit from Sept. 9 to 11 in Charlotte will offer the secret ingredients to a successful transformation.

Charlotte 109
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NB Bancorp added to ABA NASDAQ Community Bank Index

ABA Community Banking

ABA added NB Bancorp, headquartered in Needham, Massachusetts, to the ABA NASDAQ Community Bank Index, or ABAQ. The post NB Bancorp added to ABA NASDAQ Community Bank Index appeared first on ABA Banking Journal.

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OneAZ Credit Union to explore using blockchain technology 

American Banker

"We're in an era of instant gratification, where we're not compared to other financial institutions, but rather to companies like Amazon, Apple, Google and Facebook," says Chief Technology Officer Sandeep Uthra.

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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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ING gen-AI chatbot pilots in the Netherlands

BankInovation

ING is running a generative AI-driven chatbot pilot in the Netherlands before it plans to scale the technology. The pilot funnels only 2.5% of clients’ chats into its gen-AI chatbot, Chief Analytics Officer Bahadir Yilmaz told Bank Automation News at the recent Money2020 Europe event in Amsterdam.

Analytics 112
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Book festival activists are making absurd demands over Baillie Gifford | Nils Pratley

TheGuardian

Insistence on investment purity misses the point and will only lead to a decline in arts sponsorship In a ranking of climate villains in the fund management industry, Baillie Gifford would surely come a long way down most people’s list. The Edinburgh-based firm preaches long-termism and its specialism is backing technology companies, especially those with kit to accelerate the transition to cleaner energy and transport.

Industry 111
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Cash use persists in US beyond pandemic

Payments Dive

Consumers remained committed to cash use last year, even as the share of card payments rose and online payments increased, according to an annual Federal Reserve study.

US 435
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AI Now: Your Guide to Surviving the Rise of Machine Intelligence

William Mills

While technologies come and go, AI is making seismic waves, permeating every corner of the business world. No longer a futuristic concept but a present-day reality, AI is seamlessly integrating into various sectors with remarkable efficacy. As we continue to witness AI reshaping industries and the future itself, it’s important we do a deep dive into its profound implications for society and work.

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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