Perficient

OCTOBER 30, 2024

Artificial intelligence (AI) is poised to affect every aspect of the world economy and play a significant role in the global financial system, leading financial regulators around the world to take various steps to address the impact of AI on their areas of responsibility. The economic risks of AI to the financial systems include everything from the potential for consumer and institutional fraud to algorithmic discrimination and AI-enabled cybersecurity risks.

Regulation 221

Regulation FDIC Compliance Innovation 221

South State Correspondent

OCTOBER 30, 2024

A survey from the CFA Institute caught our attention on why wealth management clients leave. 47% of the respondents said they left because of the poor portfolio performance. That makes sense. But, do you know what the second highest reason for leaving your wealth manager was? Communication. 43% of the respondents left because of the lack of communication.

How To 195

How To Data Management Study 195

Gonzobanker

OCTOBER 31, 2024

Vendor management is risky business. Smart leaders use performance scorecards to keep the board informed. The FDIC issued a consent order against Discover Bank last year for lacking oversight into third-party risk management and a compliance vendor management program. The time is past for all financial institution leaders to heed this message, take a hard look at their vendors and highlight concerns to their boards of directors.

Risk Management 154

Risk Management Management FDIC Software 154

Payments Dive

OCTOBER 29, 2024

The Consumer Financial Protection Bureau released its final open banking rule this month, leading the payments and financial services industries to begin preparing for a new era in data-sharing.

Payments 475

Payments Industry Data 475

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ABA Community Banking

OCTOBER 29, 2024

In his opening remarks as ABA chair, John Asbury spoke to the core values of Atlantic Union Bank—“caring, courageous, committed”—and used them to frame his goals for the year ahead. The post Asbury challenges industry to ‘caring, courage, commitment’ appeared first on ABA Banking Journal.

Industry 98

Industry Community Bank Policies Community 98

Perficient

OCTOBER 28, 2024

Artificial intelligence (AI) is poised to affect every aspect of the world economy and play a significant role in the global financial system, leading financial regulators around the world to take various steps to address the impact of AI on their areas of responsibility. The economic risks of AI to the financial systems include everything from the potential for consumer and institutional fraud to algorithmic discrimination and AI-enabled cybersecurity risks.

Regulation 221

Regulation Fraud Tools Compliance 221

South State Correspondent

OCTOBER 30, 2024

In our previous article ( here ) we analyzed the data on community bank M&A and performance, and we concluded that there is no relationship between community bank size and profitability, as measured by return on equity (ROE). While superficially it makes sense that bigger is better, size itself does not lead to better bank performance. Combining two banks may lead to some elimination of overhead, but this gain in efficiency and scale is often overstated.

Community Bank 195

Community Bank Community Management Operations 195

Payments Dive

NOVEMBER 1, 2024

Cash use worldwide will drop significantly next year, despite its U.S. persistence, the research firm Forrester predicts. Meanwhile, business-to-business acquisitions in the payments realm will pick up.

Payments 448

Payments 448

TheGuardian

OCTOBER 30, 2024

Rise in hybrid warfare and cyber-attacks blamed on pro-Russia groups prompt Nordic neighbours to backpedal Sweden and Norway are backpedalling on plans for cashless societies over fears that fully digital payment systems would leave them vulnerable to Russian security threats, and concern for those unable to use them. A combination of good high-speed internet coverage, high digital literacy rates, large rural populations and fast-growing fintech industries had put the Nordic neighbours on a fast

Security 112

Security Groups Fintech System 112

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Perficient

OCTOBER 31, 2024

The Federal Deposit Insurance Corporation (“FDIC”) recently announced that it is providing financial institutions additional time to get new process and systems in place by extending the compliance date for the new FDIC signage and advertising rule (Part 328, subpart A) from January 1, 2025, to May 1, 2025. The final rule established a new black and navy-blue FDIC official digital sign shown below.

FDIC 221

FDIC Compliance User Experience Leadership 221

ABA Community Banking

OCTOBER 28, 2024

As young people increasingly turn to unregulated, nonbank technology providers for their banking needs, innovation in the banking industry is not just an option — it is an imperative, outgoing ABA Chair Julieann Thurlow said. The post ABA’s Thurlow: Bank innovation needed to reach younger customers appeared first on ABA Banking Journal.

Innovation 64

Innovation Industry Technology Community Bank 64

Payments Dive

NOVEMBER 1, 2024

“For better or for worse, applying pressure to payments organizations to ferret out bad-merchant actors seems to be an effective way for the FTC to make private industry police the merchant marketplace,” writes an industry lawyer.

Industry 417

Industry Payments 417

TheGuardian

OCTOBER 29, 2024

News of redundancies comes as UK division delays publication of results after car finance court ruling Santander is cutting more than 1,400 jobs across its UK business this year as part of its efforts to reduce costs. The Spanish bank’s chief executive officer, Hector Grisi, confirmed the cuts as its UK division delayed publication of its latest financial results to consider the impact of an influential court ruling linked to commission on car finance.

Industry 95

Industry 95

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ATM Marketplace

NOVEMBER 1, 2024

How is commercial cash usage evolving?

137

137

Commercial Lending USA

OCTOBER 30, 2024

Need help to discover real estate private money lenders? Learn how to find private money lenders tactics to advance your real estate career.

How To 105

How To Strategy Lending 105

Payments Dive

OCTOBER 30, 2024

A MoneyGram executive speaking at the Money 20/20 conference cooed about the trillion-dollar opportunity to lure cash users to digital options, but didn’t mention the company’s recent systemwide outage.

Conference 370

Conference Company 370

TheGuardian

OCTOBER 29, 2024

London-headquartered bank is poised to launch one of the biggest shake-ups in its 159-year history HSBC has reported better-than-expected profits in the third quarter, allowing the bank to launch another multibillion-dollar stock buyback as it embarks on one of the biggest overhauls in the lender’s 159-year history. The London-headquartered bank said strong performance in its wealth division and wholesale banking arm helped push pre-tax profits up 10% to $8.5bn (£6.6bn) in the three months to th

Taxes 77

Taxes Report 77

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ATM Marketplace

OCTOBER 29, 2024

The best way to prevent bugs, defects, or glitches and protect your company, your customers, and your shareholders is by rigorously testing everything.

Payments 133

Payments Company 133

American Banker

OCTOBER 30, 2024

The megabank disclosed that regulators are looking at its anti-money laundering and sanctions compliance. Wells Fargo was recently hit with an enforcement action over similar matters.

America 99

America Compliance Regulation Payments 99

Payments Dive

OCTOBER 28, 2024

Plaid CEO Zach Perret expects consumers to use pay-by-bank services for mortgage and utility payments, but is skeptical they will be used to pay at restaurants or for groceries anytime soon, he said.

Payments 307

Payments 307

TheGuardian

OCTOBER 28, 2024

Lender holds about £15bn in loans through Black Horse and could have to pay compensation for mis-selling Business live – latest updates Lloyds Banking Group has said it is assessing the potential impact of a landmark court ruling over car finance mis-selling on Friday, which may lead to lenders paying out billions of pounds in compensation to borrowers.

Groups 91

Groups Marketing 91

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Lending

ATM Marketplace

OCTOBER 31, 2024

Leverage the latest ATM technology and business trends with help from KAL, ATM Marketplace and insights from special guest industry experts. In this webinar, our panel group will share valuable viewpoints on key themes from our 2024/5 ATM Software Trends report (the ATM industry’s #1 annual research project).

ATM 105

ATM Software Trends Groups 105

American Banker

OCTOBER 30, 2024

Leaving credit unions exempt from the Community Reinvestment Act preserves a gaping hole in regulations designed to make sure that financial services firms make loans available in underserved communities across the country.

Community 92

Community Regulation Compliance 92

Payments Dive

OCTOBER 30, 2024

The payments processor divested the unit as part of a plan to streamline the company’s business, and it’s targeting more sales, CEO Cameron Bready said.

Payments 273

Payments Company 273

TheGuardian

NOVEMBER 1, 2024

FCA says financier showed reckless disregard for rules over inquiry into alleged sexual misconduct The financial regulator has warned the former hedge fund manager Crispin Odey that it is planning to take action against him for failing to act with integrity, and deliberately frustrating a disciplinary process into sexual harassment allegations in order to protect his own interests.

Regulation 93

Regulation Management 93

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Remote Deposit Capture (RDC) clients are more likely to use additional treasury services and maintain larger deposits. However, poor customer experiences—particularly if they delay deposits—can compel RDC clients to take their business elsewhere. This eBook makes the case for outsourcing RDC operations to a proven managed services partner. This approach helps Treasury Departments with limited resources provide excellent client experiences that result in higher retention and productivity rates.

Operations