Sat.Jun 01, 2024 - Fri.Jun 07, 2024

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Pot payments players crave federal reforms

Payments Dive

The Safer Banking Act and federal rescheduling of marijuana could simplify transactions for payments companies doing business in the arena.

Payments 397
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Here is the Future of Bank ROE and What to Do About It

South State Correspondent

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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Trending Sources

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ING implements gen AI for know your customer processes

BankInovation

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.

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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.

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Back to Basics with Reconciliations

Join us in this webinar, where we share best practices on how to think about the reconciliation work each month, when best to do reconciliations, how they should be prepared, and some common pitfalls to avoid. Learning Objectives: This course objective is to understand how to properly prepare and review balance sheet reconciliations and its impact on the financial statements.

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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.

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More Trending

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Key takeaways from ThinkBIG 2024: Insights for banks and credit unions

Abrigo

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.

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The Results Are In: The Jack Henry™ 2024 Strategy Benchmark

Jack Henry

Explore top insights from Jack Henry's 2024 Strategy Benchmark. Dive into key findings on financial benchmarks such as technology trends, metrics, & more.

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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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Cash App exec hints at Square integration

Payments Dive

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.

Software 415
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How a Managed Services Partner Can Reduce the Friction in Your RDC Program

Treasury teams at community banks face an ongoing challenge of delivering frictionless customer experiences as they support treasury products – especially RDC. This infographic focuses on the efficiencies community banks gain when partnering with a proven managed services provider. You’ll see the advantages you can gain when a managed services partner leverages online tools, skilled customer and technical support personnel, and fulfillment and logistics capabilities to streamline RDC fulfillment

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Banks can't measure climate risk? I live it every day

American Banker

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.

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UK bank Standard Chartered accused of helping to fund Iran and terrorists

TheGuardian

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

New York 101
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New Study Highlights Tech Trends and Top Priorities for Banks in 2024 and 2025

BankInovation

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.

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New York races to pass BNPL bill

Payments Dive

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.

New York 398
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Budget Playbook for Commercial Lenders — Bank and Credit Union Edition

Amid market uncertainty, banks and credit unions are faced with critical decisions about the future of their commercial lending. With fluctuating interest rates and rising competition from non-bank lenders, it's critical to allocate your 2025 budget strategically to optimize lending operations. Our Budget Playbook for Commercial Lenders delivers key strategies to help you navigate these challenges, ensuring your institution is well-positioned for the coming year.

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Cash isn't going away, despite declining use

American Banker

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.

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New lifeline for bank customers as ‘super-ATMs’ go on trial in England

TheGuardian

Residents in areas without branches can withdraw and deposit cash with various high street banks using one machine The first in a planned wave of new “super-ATMs” allowing customers of multiple banks to make cash deposits and free withdrawals have opened for business. Described as a UK industry first, major high street banks have worked together to install “multi-bank deposit ATMs” that could offer a lifeline for residents and small businesses in areas that have in some cases lost all their bank

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New rule makes BNPL sustainable in long term, experts say

BankInovation

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.

Cards 77
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5 ways unified commerce transforms the retail experience

Payments Dive

Customers have multiple ways to access your products and brand, but do those experiences work together for their benefit—and yours?

Retail 360
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Is Your Current Card Platform Holding You Back?

Have you ever felt the pain and loss of a client suddenly going silent, leaving you questioning everything? Ghosting can cause heartbreak; in business, it drains resources, and emotionally, it shatters your confidence. A modern credit card program can give you the tools to deliver the digital-first experiences your customer’s demand. Our eBook, “5 Signs Your Credit Card Offering Needs an Upgrade,” will help you identify key indicators that your current card platform may be holding you back and w

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Supreme Court rulings, FDIC workplace culture probe: Top banking news for May 2024

American Banker

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.

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Will cash ever go away?

ATM Marketplace

Is cash on its way out or will it stick around for the future?

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Podcast: AI prescription for banks

BankInovation

Financial institutions look to their tech providers to help them embrace new technologies, including AI. At cloud-based fintech nCino, Chief Industry Innovation Officer Anthony Morris works to identify technologies that banks need to implement to keep up with the “industry ahead of them,” he tells Bank Automation News on this episode of “The Buzz” podcast.

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CFPB finalizes open banking standard-setter rule

Payments Dive

The bureau will consult public interest groups and app developers on open banking standards, and no single special interest can dominate the standards-making process.

Groups 244
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It Takes Two to Tango

With automation, you’ll reduce errors and save valuable time, allowing you to focus on what really matters: strategic analysis and insightful decision-making. Picture accurate financial reports ready at your fingertips, giving you the confidence to tackle business challenges head-on. Embracing automation not only boosts productivity but also elevates your role from number cruncher to closing rockstar.

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The racial wealth gap is getting wider. Can technology fix it?

American Banker

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.

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Eurozone business activity grows as expected ECB interest rate cut looms

TheGuardian

A 25 percentage point cut to main lending rate is forecast amid growth in Germany, Italy and Spain Business activity grew across the eurozone at the fastest rate in a year in May while inflation cooled, according to data that will be welcomed by the European Central Bank (ECB) in advance of expected interest rate cuts tomorrow. The latest HCOB purchasing managers’ index (PMI) data, compiled by S&P Global, showed private sector output expanded in most economies covered by the euro currency af

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Deutsche Bank shares data with Swift for AI fraud solution

BankInovation

AMSTERDAM — Deutsche Bank is one of multiple financial institutions sharing anonymized data with financial messaging service provider Swift. The process will test the use of secure data-sharing for AI-driven fraud prevention, Joanne Hannaford, chief information officer and chief product officer of corporate bank at Deutsche Bank, said at Money2020 Europe on June 4.

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Affirm adds new options in bid to battle cards

Payments Dive

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.

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3 Ways Managed Device Services Help Community Banks Cut Costs

Community banks seek ways to leverage their technology infrastructure to drive productivity and growth. However, the sheer volume of technology devices, capital constraints, and lack of skilled resources stand in the way. This Strategy Brief explores how a managed device services partner can help bridge this resource gap. Managed device services partners empower community banks to take charge of mission-critical device management activities with: Logistics and installation services to support se