Pot payments players crave federal reforms
Payments Dive
JUNE 5, 2024
The Safer Banking Act and federal rescheduling of marijuana could simplify transactions for payments companies doing business in the arena.
Sat.Jun 01, 2024 - Fri.Jun 07, 2024
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Here is the Future of Bank ROE and What to Do About It
South State Correspondent
JUNE 5, 2024
The average return on equity (ROE) for the banking industry declined to 11.10% in Q1/24 (a 23 percent decline in the last year). For banks under $10B in assets, ROE declined to 10.53% in Q1/24 (an 11% decline in the last year). The typical published analysis considers the industry in aggregate which conflates the challenges and opportunities at community banks (those under $10B in assets).
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ING implements gen AI for know your customer processes
BankInovation
JUNE 5, 2024
AMSTERDAM — ING is using generative AI in its know-your-customer processes to boost productivity for its data analysts and improve the client experience. The generative AI efforts for KYC have both an operational and client benefit, Marnix van Stiphout, chief operating officer and chief technology officer ad interim at 976 billion euros ($1.
Book festival activists are making absurd demands over Baillie Gifford | Nils Pratley
TheGuardian
JUNE 3, 2024
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.
5 Things Lenders Need to Know About Portfolio Loans & Their Documentation
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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.
Will the Recent Ticketmaster Data Breach Drive More Fraud for Banks and Credit Unions?
Gonzobanker
JUNE 6, 2024
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.
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Key takeaways from ThinkBIG 2024: Insights for banks and credit unions
Abrigo
JUNE 4, 2024
Navigating credit quality, compliance, and technology integration The ThinkBIG conference hosted by Abrigo fosters networking and professional development for bankers. Read some hot topics discussed by the conference's opening panel. You might also like this on-demand webinar, "Navigating uncertain times: Strategies for risk management and compliance.
The Results Are In: The Jack Henry™ 2024 Strategy Benchmark
Jack Henry
JUNE 7, 2024
Explore top insights from Jack Henry's 2024 Strategy Benchmark. Dive into key findings on financial benchmarks such as technology trends, metrics, & more.
NB Bancorp added to ABA NASDAQ Community Bank Index
ABA Community Banking
JUNE 3, 2024
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.
Cash App exec hints at Square integration
Payments Dive
JUNE 3, 2024
Block is working to make its peer-to-peer payments tool, Cash App, a consumer app for interacting with merchants using its Square point-of-sale software.
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.
Banks can't measure climate risk? I live it every day
American Banker
JUNE 7, 2024
U.S. regulators need to do more to require banks to recognize the risks posed by climate change, and the damage that continuing to support fossil fuel extraction projects does to the environment.
European and Canadian central banks expected to cut interest rates this week
TheGuardian
JUNE 2, 2024
New lower rates of 3.75% and 4.75% respectively are likely to be introduced this week after drops in inflation Borrowers in the eurozone and in Canada are expected to get some relief from high interest rates this week. After recent drops in inflation, the European Central Bank (ECB) and the Bank of Canada (BoC) are forecast to lower their benchmark rates in the coming days.
Will cash ever go away?
ATM Marketplace
JUNE 4, 2024
Is cash on its way out or will it stick around for the future?
New York races to pass BNPL bill
Payments Dive
JUNE 6, 2024
State lawmakers are negotiating three separate proposals related to the buy now, pay later industry ahead of the end of the legislative session on Thursday.
Breaking New Ground: Managing Innovation Fatigue With Effective Automation
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.
Cash isn't going away, despite declining use
American Banker
JUNE 7, 2024
In the U.S., the COVID-19 pandemic and other factors caused a sharp reduction in cash use. But with paper bills still accounting for nearly a fifth of all payments, the option is still far too entrenched to risk extinction.
UK bank Standard Chartered accused of helping to fund Iran and terrorists
TheGuardian
JUNE 4, 2024
Lender denies whistleblowers’ claim transactions worth $100bn were carried out in breach of sanctions Whistleblowers have claimed Standard Chartered allegedly carried out billions of dollars of previously undetected transactions for Iran-linked entities and terrorist organisations, according to a New York court filing. Two whistleblowers, who include a former executive at the British bank, filed a motion last week to set aside a judgment that dismissed an earlier lawsuit they filed, in an attemp
3 tips to convert your ATMs into ITMs
ATM Marketplace
JUNE 7, 2024
Want to upgrade your ATM fleet? Here are three easy steps you can take.
5 ways unified commerce transforms the retail experience
Payments Dive
JUNE 3, 2024
Customers have multiple ways to access your products and brand, but do those experiences work together for their benefit—and yours?
Exploring the Liability Shift: A Comprehensive Guide to Fraud Loss Responsibility and Mitigation
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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
The racial wealth gap is getting wider. Can technology fix it?
American Banker
JUNE 6, 2024
In recent years, the wealth gulf between white and Black families has only grown. But there is hope that advances in fintech, such as wider adoption of artificial intelligence, can help.
New Study Highlights Tech Trends and Top Priorities for Banks in 2024 and 2025
BankInovation
JUNE 3, 2024
The highly anticipated 2024 Jack Henry™ Strategy Benchmark results are in! Jack Henry’s sixth annual study uncovers key insights and valuable takeaways from bank and credit union CEOs to help you capitalize on market shifts and new opportunities, refine your strategic plan, and compete successfully in 2024 and 2025.
Visa, Thunes launch survey on cross-border payment interoperability
The Paypers
JUNE 3, 2024
Singapore-based Thunes , in collaboration with Visa , has launched a survey which highlights conflicted opinions among Europe-based companies on cross-border payment interoperability.
Affirm adds new options in bid to battle cards
Payments Dive
JUNE 7, 2024
The buy now, pay later provider now offers two 30-day payment plans; one that allows for full payment and another that splits a purchase in two, in addition to its “pay in four” offering.
Case Study: First Mid Bank Fast-Tracks New Market Entry in Commercial Lending
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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.
Supreme Court rulings, FDIC workplace culture probe: Top banking news for May 2024
American Banker
JUNE 3, 2024
In this month's roundup of top banking news: a Supreme Court ruling on CFPB funding, TD Bank's money laundering woes, an FDIC workplace probe reveals a culture of misconduct and more.
New rule makes BNPL sustainable in long term, experts say
BankInovation
JUNE 4, 2024
The new Consumer Financial Protection Bureau rule putting buy now, pay later providers in the same category as credit card issuers can fuel the industry’s growth, experts say.
Podcast: Pathward’s road to innovation in financial inclusion
ABA Community Banking
JUNE 6, 2024
On the latest episode of the ABA Banking Journal Podcast, Anthony Sharett, president of Pathward, discusses how his FDIC-insured bank works alongside depository institutions to expand offerings that enhance financial inclusion and reach the unbanked. The post Podcast: Pathward’s road to innovation in financial inclusion appeared first on ABA Banking Journal.
Top JPMorgan payments executive exits
Payments Dive
JUNE 4, 2024
Takis Georgakopoulos, a 17-year veteran at the bank, will be replaced by two colleagues being promoted to co-head roles.
Thinking About How To Lessen Your Burden During Month-End Close? Skystem Can Help!
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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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