American Banker
MARCH 18, 2024
False information, job losses, diminishing skills and human interaction, among other concerns, have bankers worried about deploying both generative artificial intelligence, like ChatGPT, and more long-accepted forms of AI like machine learning, according to a new survey of American Banker readers.
BankInovation
MARCH 20, 2024
The Music is Starting to Stop Recent years have been extremely lucrative for wealth advisors; both the independents and full-freight firms. Low cost of capital, booming public markets, and a growing desire to diversify into new products are all ways wealth management firms can grow AUM and, as a result, grid payouts.
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ABA Community Banking
MARCH 19, 2024
The new routing mandate would reduce the revenue that banks receive for processing credit card transactions, forcing banks to reduce the popular rewards and benefits that revenue supports. The post The Points Guy on the Credit Card Competition Act: ‘It’s ridiculous’ appeared first on ABA Banking Journal.
Payments Dive
MARCH 18, 2024
Soon, all payments will begin and end with software. Which innovations should companies prioritize now?
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Discover the key benefits of portfolio loans and learn how to streamline your lending process with our infographic, "5 Things Lenders Need to Know About Portfolio Loans & Their Documentation." Find out how portfolio loans can maximize borrower potential by consolidating multiple properties under a single loan, reducing paperwork, and lowering closing costs.
South State Correspondent
MARCH 21, 2024
Most banks completely ignore odd digit pricing. Instead of offering that competitive commercial loan for 7.00%, you offer the loan for 6.99%. Conversely, in a non-competitive situation, instead of offering a 6.20% rate, you offer a 6.23% rate and pick up three basis points per year. However, those banks that do are religious about it and as a result, it ends up increases their product acceptance rate and increasing margin.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
CFPB Monitor
MARCH 18, 2024
Following a year of new DOJ policies and guidance designed to incentivize companies to self-report misconduct and to cooperate with government investigations, the DOJ has added a new pilot whistleblower rewards program. In their remarks at the American Bar Association’s 39 th Annual National Institute on White Collar Crime, Deputy Attorney General Lisa Monaco and Acting Assistant Attorney General Nicole Argentieri both explained that the new whistleblower policy is designed to incent
Payments Dive
MARCH 20, 2024
New research from the Philadelphia and Boston Feds finds that consumers are cycling through low APR credit card offers.
American Banker
MARCH 20, 2024
In a simulation exercise hosted by the Global Resilience Federation on Tuesday, banks and credit unions tested their ability to withstand an industrywide wiperware attack.
South State Correspondent
MARCH 19, 2024
In two previous articles ( here and here ) we discussed how loan size and loan term affect the profitability of commercial loans. We continue this theme of major drivers of loan and bank profitability and discuss the importance of cross-selling and upselling, and its impact on bank performance. In this article, we consider the common features of upselling and cross-selling.
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.
Perficient
MARCH 21, 2024
In an era where automation plays a pivotal role in reshaping businesses, selecting the right partner for automation fabric services is critical. Forrester’s report, The Automation Fabric Services Landscape, Q1 2024, offers insights into the evolving landscape and recognizes notable providers in the industry. Perficient is listed among these notable providers as a large automation fabric consultancy, with an industry focus in financial services, healthcare, and manufacturing/production of c
Payments Dive
MARCH 22, 2024
Having already dominated e-commerce transactions, digital wallets are projected to overtake at least one traditional form of payment in stores, according a Thursday report by Worldpay.
ATM Marketplace
MARCH 22, 2024
Banks can use AI to improve customer experiences and provide a more personalized touch to their services, to streamline bank branch management and bolster security, creating the bank of the future.
Jeff For Banks
MARCH 21, 2024
Four Years Ago It was on March 11 th , four years ago in 2020, that the WHO declared a global pandemic due to the Covid virus threat that originated in China. Our lives changed forever from this whole experience of the government’s declaration of a national emergency, leading to forced shutdowns of businesses and schools, mandated mask wearing, forcing 6-foot distances between people, travel restrictions, fear mongering with case and death counts, and forced vaccines/boosters.
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.
BankInovation
MARCH 21, 2024
Both KeyBank and PNC Bank are exercising caution in how they roll out generative AI to their customers. The models need to be refined for accuracy before consumers can be the “prompters,” or questioners, for gen AI-driven features, Dominic Cugini, chief transformation officer at $185 billion KeyBank, said at Bank Automation Summit U.S.
Payments Dive
MARCH 20, 2024
A partnership between tech giants Meta and Amazon “could represent the tipping point of transforming social media into a transaction platform,” Mizuho Securities analysts said in a report this week.
TheGuardian
MARCH 17, 2024
Financiers providing billion-dollar support for industrial livestock companies to expand leading to unsustainable rise in production Billion-dollar financing is driving unsustainable increases in global meat and dairy production, a report has found. Global meat production rose 9% between 2015 and 2021, the report said, while dairy production increased 13% in that time.
American Banker
MARCH 22, 2024
The Federal Reserve's vice chair for supervision says the board is discussing ways to address the various concerns banks have raised about the capital reform proposal.
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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
BankInovation
MARCH 20, 2024
NASHVILLE, Tenn. — Digital banking service provider LemonadeLXP won the inaugural Demo Challenge at Bank Automation Summit U.S. 2024. Nine financial services technology startups showcased their latest innovations with technology leaders and executives at the March 19 event.
Payments Dive
MARCH 18, 2024
Soon, all payments will begin and end with software. Which innovations should companies prioritize now?
TheGuardian
MARCH 21, 2024
Hawkish rise 10 days before local elections is seen as a signal of independence from politics Turkey’s central bank unexpectedly raised interest rates to 50% on Thursday, citing a deteriorating inflation outlook and pledging to tighten further if it looks like inflation is significantly and persistently worsening. The hawkish move came 10 days before local elections and was seen by analysts as a signal that the central bank was independent from any political constraints and determined to tackle
American Banker
MARCH 19, 2024
Lack of understanding remains a key hurdle for adopting traditional and generative artificial intelligence-powered tools, but banks and credit unions are still eager to use AI, according to data from Arizent.
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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.
BankInovation
MARCH 20, 2024
NASHVILLE, Tenn. — Fifth Third Bank says that added efficiencies to its chatbot have boosted its accuracy rate as it leans into generative AI.
Payments Dive
MARCH 18, 2024
The company, which provides point-of-sale payments and other technology services to merchants, isn’t interested in handling acquiring, said President Chris Kronenthal.
TheGuardian
MARCH 22, 2024
London-headquartered lender wants to take advantage of UK’s decision to scrap bonus cap Business live – latest updates HSBC is urging shareholders to back a vote at its annual meeting that would open the door to bigger bonuses for its highest-earning bankers. The London-headquartered lender wants to take advantage of the UK’s decision to scrap the banker bonus cap , which was introduced after the 2008 financial crisis and limited bonuses at twice an individual’s base salary.
American Banker
MARCH 20, 2024
A key bank stock index ticked up after the Federal Reserve hinted that it could lower rates later this year. But there are still a number of economic uncertainties that are holding shareholders back.
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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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