Sat.May 11, 2024 - Fri.May 17, 2024

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How digital wallets are reshaping the payments landscape

Payments Dive

Digital wallets have grown in popularity as consumers have become accustomed to the convenience and flexibility of contactless payments.

Payments 435
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Why Diversification Fails at Banks

South State Correspondent

Bankers have been taught to diversify their loan portfolio to reduce idiosyncratic (individual borrower) risk and to stabilize earnings. The thinking is that diversification-induced lending leads to banking resiliency. We believe that while lending diversification leads banks to lend more in normal times (especially for banks over $50B in assets) and does benefit the general economy, community banks should be careful in how and where they choose to diversify.

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Digital Banking Metrics: Adoption, Usage, and Impact of Digital on Banks and Credit Unions

Gonzobanker

Digital metrics at banks and credit unions are not all trending up and to the right. But there are some bright spots. A new report on digital banking metrics and the impact that digital banking is having on banks reveals some positive developments, but also a host of troubling trends that should give bank executives cause for concern. The fourth edition of the Digital Banking Performance Metrics study from Cornerstone Advisors, commissioned by Alkami, captures digital banking metrics from banks

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Unlocking the financial data ‘treasure trove’

BankInovation

AI and generative AI applications continue to dominate conversations within the financial services industry, but implementing generative AI is near impossible if bank data isn’t standardized and accessible. What makes good data?

Data 119
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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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7-Eleven testing financial services in stores

Payments Dive

The retailer will add terminals to 3,000 of its Speedway locations and test services like cryptocurrency purchases with ATM solution provider FCTI.

ATM 397

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Four ways DORA compliance is an opportunity for financial services organizations to accelerate digital transformation

Cisco

The Digital Operational Resilience Act (DORA) offers financial service institutions the chance to enhance operational resilience and competitive advantage through compliance, with Cisco providing a comprehensive suite of solutions to support FSIs in meeting these new regulatory requirements.

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Small business clients look to Chase for data insights

BankInovation

Small business clients looking to make data-driven business decisions within their operations don’t always know how to tap into their data, but JPMorgan Chase has created a solution to deliver these insights.

Data 114
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Fed, OCC to hold meeting on Capital One-Discover deal

Payments Dive

Concerns about the $35B merger proposal, which has already faced opposition, are likely to surface again at the July public meeting.

Meeting 396
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10 Lessons We Learned at the Nacha Smarter Faster Payment Conference

South State Correspondent

Last week, Nacha held its Smarter Faster Payments Conference in Miami, a significant event for over 1,800 bankers and vendors. With 142 presentations and panels, the content was tailored to the needs of every bank interested in payments. The major themes of fraud, artificial intelligence (AI), expansion of instant payments, open banking, and regulation were particularly relevant to your roles as executives, risk managers, compliance officers, and technology leaders.

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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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More than 6,000 bank branches now gone in nine years of ‘disastrous’ closures

TheGuardian

Thirty-three constituencies, including two in London, will not have a single bank branch by the end of the year, says Which? The number of UK bank branches that have shut their doors for good over the last nine years will pass 6,000 on Friday, and by the end of the year the pace of closures may leave 33 parliamentary constituencies – including two in London – without a single branch.

Community 111
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What's the future of ATMs, ITMs?

ATM Marketplace

The future of ATMs lies not as machines that just dispense cash, but rather as multifunctional banking kiosks,

ATM 125
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Shift4 to buy rival POS firm Revel for $250M

Payments Dive

The payments processing company plans to incorporate Revel’s point-of-sale capabilities into its SkyTab POS system, Shift4 CEO Jared Isaacson said.

System 293
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Top 10 Tips for Getting Approved for a Commercial Loan

Commercial Lending USA

One of the largest companies that offers business loans is Commercial Lending USA. You can get money from them to help your business grow and stay ahead of the competition.

Lending 98
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Live Demo: How to Achieve Reconciliation Zen

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Automation generally supercharges any process and brings its value to the forefront. See how infusing automation such as ART (our month-end close solution), into your close can get you to the next level of closing. We will share a live demo of SkyStem's solution, ART and share the key elements of month-end close automation. Through ART, we'll take a look at: What month-end close automation entails Which process steps can and should be automated Benefits of achieving process automation, and Why i

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More than 120 acts quit Great Escape music festival in solidarity with Palestine

TheGuardian

Brighton event’s opening showcase scrapped after performers join Massive Attack and Brian Eno in boycott of sponsor Barclays More than 120 acts have pulled out of the Great Escape music festival in Brighton as part of a Palestine-related campaign against the event sponsor Barclays that has been supported by Massive Attack, Idles and Brian Eno. The festival’s opening showcase and a keynote speech have been scrapped after performers joined Bands Boycott Barclays, a campaign that claims Barclays Ba

Company 111
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Cardless ATMs deliver Google/Apple Pay

ATM Marketplace

Cardless ATMs are paving the way for a more convenient banking experience by enabling Google and Apple Pay transactions.

ATM 119
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Fed bombarded by debit card fee commentary

Payments Dive

The Federal Reserve Board said it has received some 2,500 comment letters regarding its Regulation II proposal to cut the fees that merchants are charged when they accept debit cards.

Cards 243
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The Pivotal Role Accounts Receivables Financing Will Play in the Emerging Economy

Jack Henry

Soon, we will be back to “normal,” or at least something that resembles it. Promising vaccines are on the horizon. In some states, businesses are reopening. Holiday shopping is even underway. At the same time, millions of US-based businesses are preparing for 2021 and what it may bring. Through the sharp second quarter decline, many industry sectors saw gross revenues drop by more than 40%.

US 78
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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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Banks have given almost $7tn to fossil fuel firms since Paris deal, report reveals

TheGuardian

Among world’s top 60 banks those in US are biggest fossil fuel financiers, while Barclays leads way in Europe The world’s big banks have handed nearly $7tn (£5.6tn) in funding to the fossil fuel industry since the Paris agreement to limit carbon emissions, according to research. In 2016, after talks in Paris, 196 countries signed an agreement to limit global heating as a result of carbon emissions to at most 2C above preindustrial levels, with an ideal limit of 1.5C to prevent the worst impacts

Report 111
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Insights from the 2024 Bankers as Buyers Report: Preparing your Financial Institution for the Future

William Mills

In a constantly evolving world and financial landscape, understanding today’s trends will guide future decision making and allow banks and credit unions to prepare their financial institution for the future.

Report 90
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CFPB will keep defending late fee cap

Payments Dive

The 5th Circuit Court of Appeals blocked the Consumer Financial Protection Bureau’s $8 late fee cap on Friday, but the federal agency said it will continue to “defend” the rule.

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The Benefits of Early CECL Adoption

Jack Henry

FASB’s Accounting Standards Update (ASU) No. 2016-13 (more commonly referred to as CECL) was released earlier this year in June. At first look, the implementation dates for CECL are so far out that this project may not rank very high on a management team’s to-do list. Public business entities (PBEs) that are SEC registered have a regulatory reporting effective date March 31, 2020.

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New York Lien Law Essentials: 5 Key Facts for Commercial Lenders

Dive into the complexities of New York lien laws with our comprehensive eBook, 'New York Lien Law Essentials: 5 Key Facts for Commercial Lenders.' In this detailed guide, we explore the critical formalities necessary for lenders navigating ground-up construction and fix-and-flip projects in the New York market. From documentation requirements to the implications of non-compliance, learn how to safeguard your lending position and prioritize legal adherence.

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Are 25-year UK mortgages a thing of the past?

TheGuardian

Younger homebuyers are turning to ultra-long loans, prompting fears over the risk to their finances and the wider economy For a long time the traditional length of a UK mortgage has been 25 years, but runaway house prices and, more recently, dramatically higher borrowing costs are prompting more and more people to “go long” on their home loans. On Monday, the former pensions minister Steve Webb revealed that younger homebuyers were increasingly being forced to gamble with their retirement prospe

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Leverage finds a way: a comparison of US Treasury basis trading and the LDI event

BankUnderground

Adam Brinley Codd, Daniel Krause, Pierre Ortlieb and Alex Briers We both drive cars, but the US drives on the right while the UK drives on the left. We both walk, but we do so on sidewalks in the US and pavements in the UK. We both have asset managers, who want to take leveraged positions in interest rates. US asset managers had around US$650 billion of long treasury futures in June 2023.

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FIS eyes growth via acquisitions

Payments Dive

Fidelity National Information Services is targeting revenue growth of as much as 4.5% this year as it scans the landscape for “tuck-in” acquisitions following the spin-off of Worldpay.

National 221
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Visa blurs line between debit, credit cards in new 'flexible credential'

American Banker

As part of a sweeping digital enhancement of its consumer payment cards, Visa will enable banks to issue an account as a credit, debit, virtual or Pay in 4 installment loan, based on the user's preference at the time of purchase.

Cards 96
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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.