Sat.Sep 03, 2022 - Fri.Sep 09, 2022

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How can banks embrace a growing Gen Z workforce?

Accenture

Getting young graduates excited about working in commercial banking will be a challenge for incumbents, as our report on Commercial Banking Top Trends in 2022 highlights. I began this series with a look at the industry’s outdated image in Wall St to Elm St: Surviving the talent nightmare. Then, in Smart banks will value talent…. The post How can banks embrace a growing Gen Z workforce?

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The Five Problems with Adjustable Rate Loans

South State Correspondent

A common strategy for community banks, when faced with a borrower that wants a 10-year fixed rate loan, is to offer a five-year fixed rate that adjusts in five years. Historically, this has worked for some customers and banks because, over the last 40 years, five-year rates have generally fallen. As interest rates fall, a bank’s cost of funds (COF) decreases, net interest margin (NIM) increases, and on the reset date, the borrower benefits from reduced debt service costs.

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US Dollar Hits New Record High

South State Correspondent

US Dollar Climbs to New Record High. Treasuries are finding a bit of a bid this morning after what has been a rough couple of weeks, but we suspect smooth seas will be brief as the market contends with several forces. Corporate supply has been heavy following Labor Day and that is not unusual. What may be different this time is the proximity to the September 21 FOMC meeting and corporate treasurers wanting to get issuance done before that looming event risk.

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What's the future for bank branches?

ATM Marketplace

The future of bank branches will be interesting, according to Stephen K Griffin, SVP and director of the Retail Distribution Planning Group at Regions Bank. Griffin shared his insights in an opening keynote at the Bank Customer Experience Summit held in Chicago from Aug. 31 to Sept 1.

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Digital Transformation: Accelerating ROI and Growth in Commercial Lending

Now is the time for lenders to prioritize their digital transformation initiatives in preparation for the lending rebound. Rising competition and ever-increasing customer demands for speed and efficiency are forcing financial institutions to embrace digital transformation. This shift can feel overwhelming—where do you begin? This infographic illustrates automation demands and shows you how loan document automation serves as an essential step to increase profits and provide the best lending exper

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Healthcare fintechs targeted by cyber criminals

Payments Dive

Cybersecurity professionals say healthcare payments processing firms are particularly vulnerable to information technology breaches and ransom demands.

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More Trending

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Inflation Trends Look Positive

South State Correspondent

Inflation Trends Look Positive. Treasuries are well bid this morning after reacting negatively to Fed Chair Powell’s Cato conference comments yesterday that didn’t retreat from any of the hawkishness of Jackson Hole. Treated negatively yesterday, this morning the Treasury rally is being explained as “investors feeling rate hikes are getting close to being fully priced in.

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Running Up That Bill: Collections Lessons from Stranger Things

SWBC's LenderHub

In season four of Stranger Things, Eleven and the crew battle an ambiguously undead supervillain and his cadre of squelching vines and vampiric bats in the Upside Down to save the world.

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Consumers need credit card reform

Payments Dive

“It's not just merchants at the mercy of the oligopoly,” writes Ed Mierzwinski, a senior director at the Public Interest Research Group. “Consumers all pay more at the store and more at the pump.

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Banks set to deliver on $369 billion climate act

Accenture

The $369 billion “climate action bill” that the US has just passed into law is positive news for banks committed to combatting climate change and advancing sustainability. The new legislation is likely to prompt corporate customers of US banks to accelerate their efforts to reduce greenhouse gas emissions to net zero. Such moves would be…. The post Banks set to deliver on $369 billion climate act appeared first on Accenture Banking Blog.

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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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Walmart challenges FTC’s constitutionality in motion to dismiss

CFPB Monitor

Perhaps ushering in a new wave of similar challenges, Walmart is challenging the FTC’s constitutionality in its motion to dismiss the FTC’s lawsuit filed in June 2022. In the lawsuit , the FTC alleges that Walmart violated Section 5 of the FTC Act and the Telemarketing Sales Rule as a result of its failure to take appropriate measures to detect and prevent third-party fraud in the processing of money transfers sent and received by consumers at its store locations. .

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What can ATMs learn from kiosks?

ATM Marketplace

Whether at the self-checkout, doctor's office or QSR, most consumers have had interactions with self-service kiosks. In fact, kiosks have become an essential part of the customer experience journey. That being said, what can the ATM industry learn from the rise of kiosks?

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Ramp jumps into cross-border payments

Payments Dive

The fintech startup is adding services as it targets a bigger bite of the $120 trillion business-to-business payments market.

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How can banking ops help increase productivity

Accenture

So far, in this series of blogs on the evolution of banking operations for the digital era, we’ve looked firstly at how banks can gain competitive advantage from bringing ops and tech closer together and then at how operations can help design and deliver compelling digital experiences for customers. In this third instalment, we home…. The post How can banking ops help increase productivity appeared first on Accenture Banking Blog.

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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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OCC keeps focus on bank/fintech partnerships

CFPB Monitor

Since the beginning of Michael Hsu’s tenure as Acting Comptroller of the Currency, bank/fintech partnerships have been a focus of OCC concern. Although bank lending partnerships with fintechs continue to receive OCC attention, recent remarks by OCC officials indicate that OCC scrutiny is now also directed at partnerships outside of the lending arena.

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How financial services can build trust in the digital age

Bobsguide

According to research by PwC , trust in financial services has been eroded – fewer than one in three consumers trust their bank. This is perhaps unsurprising: financial services executives are perceived to be overpaid; consumers fail to see that policies and regulatory updates have delivered ‘real change’; and there is an absence of better alternatives.

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Basic income pilots gain momentum across US cities

Payments Dive

At least a dozen U.S. cities have implemented unconditional direct cash payment programs over the past year, as advocates seek to build evidence and experts debate the most effective structures.

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Kwasi Kwarteng assures City of support for Bank of England independence

TheGuardian

New chancellor promises City bosses ‘radical’ plan for economic growth and smooths over Truss’s threat to review Bank’s remit The new chancellor, Kwasi Kwarteng, has used his first meeting with bank bosses to reiterate his support for the Bank of England’s independence, and promise that the new government was poised to unveil a “radical” plan for economic growth.

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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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5 questions with … Santander Bank’s Chief Consumer and Digital Transformation Officer Pierre Habis

BankInovation

Santander Bank appointed Pierre Habis to the newly created role of chief consumer and digital transformation officer in June, expanding his responsibilities to include oversight of the bank’s digital transformation. The $102 billion bank is focusing on modernizing its technology stack, which includes the launch of new robotic process automation (RPA) capabilities, automating for customer […].

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Murex Develops Interface that Offers Fixed Income, Derivatives Data from ICE

Bobsguide

MX.3 clients benefit from international venue data access that covers broad asset class range. LONDON and PARIS, September 8, 2022 —Murex, the global leader in trading, risk management and processing solutions for capital markets, has integrated with ICE Data Services, which is part of Intercontinental Exchange (NYSE:ICE), to offer a more efficient workflow for accessing ICE’s fixed income and derivatives data via the MX.3 platform.

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Visa, Mastercard face cross-border fee questions in U.K.

Payments Dive

The U.S. card giants are taking a stand in defense of their services for cross-border transactions as U.K.’s parliament and regulators scrutinize higher fees.

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UK facing 1970s-style balance of payments crisis under Liz Truss

TheGuardian

Tax cuts and spending pledges could spook global markets and trigger a collapse in sterling, Deutsche Bank warns Britain could face a 1970s-style balance of payments crisis in which the pound crashes if Liz Truss’s government loses the confidence of international investors, one of Europe’s biggest banks has warned. In a note entitled “Crunch time for sterling”, published on the day Truss won the Conservative leadership race , Deutsche Bank’s foreign exchange analyst Shreyas Gopal said a large, u

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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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Revolut wants to compete with PayPal and Apple at online checkouts

BankInovation

Revolut Ltd. is launching a one-click payment feature in a bid to rival PayPal Inc. and other tech giants at online checkouts. Revolut Pay has signed up retailers including Shopify Inc., Prestashop, WH Smith Plc and Funky Pigeon, and will be available within the airline industry in the coming months, according to a statement from […].

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Private Market Hub Becomes the First Multi-jurisdictional, Multi-tenant Enabled Solution

Bobsguide

Private Market Hub Becomes the First Multi-jurisdictional, Multi-tenant Enabled Solution for Private Equity Firms Globally; Northern Trust funds first to go live on the new multi-jurisdictional environment. Leveraging blockchain technology to alleviate the complexities faced by asset managers with funds in multiple geographies, global Fintech leader, Broadridge Financial Solutions, has released a multi-jurisdictional version of its private equity platform, Private Market Hub, now available to fu

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Mesh Payments raises $60M

Payments Dive

The payments company hopes to gain more business-to-business payments market share as the demand for expense management services rises.

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This week’s podcast episode: A look at recent Federal Trade Commission and Consumer Financial Protection Bureau privacy and data security initiatives

CFPB Monitor

Our discussion examines the FTC’s Advanced Notice of Proposed Rulemaking relating to what it describes as “commercial surveillance” and the CFPB’s circular confirming that covered persons and service providers may violate the Consumer Financial Protection Act’s prohibition against unfair acts or practices when they fail to adequately safeguard consumer information.

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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.