Sat.Sep 17, 2022 - Fri.Sep 23, 2022

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10 Big Bank Marketing Lessons from the ABA Bank Marketing Conference

South State Correspondent

Last week, the American Banking Association (ABA) held its annual Bank Marketing Conference in Denver, receiving rave reviews. The theme was – developing your marketing superpowers. Amid the brewery networking, superhero costumes, and fun, some fantastic bank marketing lessons were had, and not just for bank marketers. The theme was how marketing needs to be better integrated into all facets of the bank, from data to talent acquisition, but how other lines of business can benefit from learning m

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Is there any limit to how much banks can innovate?

Accenture

When banks move past the status quo and adopt an “everything is possible” attitude, they have the power to do truly transformative things. This is evident each year at the Qorus-Accenture Banking Innovation Awards, formerly the Efma-Accenture Banking Innovation Awards. The sheer diversity of the entries testifies to the creative thinking that’s happening at leading-edge….

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Bank robberies in VR: How BofA is training staff for stressful encounters

American Banker

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Extra costs biggest reason shoppers ditch online carts

Payments Dive

With cart abandonment costing online retailers up to $136 billion annually, Coresight Research’s findings suggest they might want to focus on total purchase price more closely matching shopper expectations.

Online 434
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Digital Transformation: Accelerating ROI and Growth in Commercial Lending

Now is the time for lenders to prioritize their digital transformation initiatives in preparation for the lending rebound. Rising competition and ever-increasing customer demands for speed and efficiency are forcing financial institutions to embrace digital transformation. This shift can feel overwhelming—where do you begin? This infographic illustrates automation demands and shows you how loan document automation serves as an essential step to increase profits and provide the best lending exper

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The Fed and Their Forecasts

South State Correspondent

The Fed and Their Forecasts. Now that the FOMC meeting has come and gone, and the Treasury and equity markets have resumed their selling as a consequence, let’s take a look at those forecasts and see what they might tell us. A year ago, the Fed was declaring rates would be lower for longer, and that they wouldn’t be tightening rates until 2024, at the earliest.

Marketing 195

More Trending

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Why construction loan risk management software is so valuable

Abrigo

Driving efficiency and reducing risk Construction loan risk management software leverages technology and sound process management to pull construction lending away from its manual roots. You might also like this webinar, "How to manage a high-performing construction loan portfolio." WATCH. Takeaway 1 Construction loan risk management software can modernizing the administration of construction loans and increase draw interest by 12%.

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Bank CEOs defend Zelle in Senate hearing

Payments Dive

Sen. Elizabeth Warren called the peer-to-peer payments network “unsafe,” claiming Zelle users were defrauded out of $500 million last year.

Payments 397
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Fixed Rate Loan Risk – Rethinking The 5-Year Offering

South State Correspondent

For decades community banks have taken on fixed rate loan risk mostly through the offering of five-year, fixed-rate, commercial term loans. This is probably the most popular structure for real estate-secured term credit at community banks. Now may be the right time for community banks to abandon this strategy – both for the borrowers who want to eliminate repricing risk (for good credit reasons) and for banks that are taking unwanted duration risk.

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CFPB Issues RFI on Mortgage Refinances and Forbearances

CFPB Monitor

The CFPB recently issued a Request for Information Regarding Mortgage Refinances and Forbearances (RFI ) Comments on the RFI will be due 60 days after publication in the Federal Register. In the release announcing the RFI, the CFPB states that the RFI “is an example of the CFPB’s new approach to promoting competition and new products.” “Rather than providing special regulatory treatment of individual firms, the CFPB will seek to identify stumbling blocks for those seeking to challenge the statu

Marketing 148
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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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Bank execs share innovative services at BCX Summit

ATM Marketplace

Four presenters shared elevator pitches for innovative banking services products at the Bank Customer Experience Summit, held in Chicago from Aug. 31 to Sept 1.

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House lawmakers add credit card competition bill

Payments Dive

Members of Congress on Monday introduced the House companion to a Senate bill seeking to rein in the Visa-Mastercard credit network “duopoly.

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Fed Week Arrives

South State Correspondent

Fed Week Arrives. With another hawkish FOMC announcement due on Wednesday afternoon, Treasuries are not waiting around as the selling has already begun this morning. The 2yr Treasury is yielding 3.94%, a new cycle high, while the 10yr Treasury is trying to push above 3.50%. It peaked at 3.52% earlier this morning but currently sits at 3.48%. If 3.50% gives way the next line in the sand is 3.59%.

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Trade groups react to FTC’s proposed Motor Vehicle Dealers Trade Regulation Rule as public comment period closes

CFPB Monitor

Expressing a range of concerns, several key industry groups submitted comments to the Federal Trade Commission (“FTC”) last week regarding its proposed rule that would impose new substantive and disclosure obligations on auto-dealers in the auto finance process. The public comment period for the notice of proposed rulemaking (“NPRM”) regarding the Motor Vehicle Dealers Trade Regulation Rule (the “Rule”) closed on September 15, 2022 after the FTC declined in August to extend it.

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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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How banks can measure return on experience

ATM Marketplace

Everyone is familiar with return-on-investment, but at times that may not be the best or only thing a bank or company should measure. A panel at the Bank Customer Experience Summit discussed how banks can measure return on experience.

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MoneyGram CEO bullish on stablecoins

Payments Dive

The money transfer company’s brick-and-mortar business is being displaced by digital payments, mobile wallets and use of stablecoins as bridge assets.

Mobile 329
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Prometeia again in the top 75 of the IDC FinTech Rankings

Bobsguide

Prometeia has ranked 72nd in the worldwide 2022 IDC FinTech Rankings, an annual ranking of the 100 biggest hardware, software and service providers to the financial services industry from around the world. Prometeia has been named in the list for the third consecutive year. To view the list in its entirety, please visit here: [link]. “We are honored to have been once again recognized among the top technology vendors for financial institutions in this prestigious ranking,” says Angelo Tantazzi, C

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CFPB expresses concern about the potential credit impact of high vehicle costs for consumers

CFPB Monitor

In a blog post on Monday , the CFPB advised that it is concerned about the impact of rising car prices on consumer’s financial health, particularly consumers with sub-prime or near prime credit scores. The most recent Quarterly Report on Household Debt and Credit from the Federal Reserve Bank of New York concluded that the total dollar value of outstanding auto loans rose to $1.5 trillion last quarter, an increase of $33 billion from Q1 to Q2 this year.

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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.

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Banks among biggest beneficiaries of Kwarteng’s mini-budget

TheGuardian

From scrapping the cap on bonuses to slashing red tape, the chancellor unveils a raft of policies he says will boost economic growth Banks will be among the biggest beneficiaries of Kwasi Kwarteng’s mini-budget after he announced a raft of policies to help costs, boost profits, lure staff, fuel house prices and slash red tape. Continue reading.

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Klarna seeks to shed more workers

Payments Dive

In acknowledging the pursuit of further downsizing, a Klarna spokesperson cited changes being made by company executive Camilla Giesecke assuming COO duties.

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TS Imagine Enhances Executive Team with Three Key Hires

Bobsguide

NEW YORK, September 20, 2022 – TS Imagine , a global leader in trading, portfolio, and risk management solutions for capital markets, today announced three executive leadership hires to support the firm’s rapid growth. Spencer Lee joins as Chief Markets Officer , where he will develop and grow TS Imagine’s global fixed income offering. Spencer brings extensive market structure and fixed income trading experience to TS Imagine.

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Businesses Beware: CFPB reviewing “all sorts” of consumer contract clauses

CFPB Monitor

On September 13, 2022, Public Justice and other consumer advocacy groups sent a letter to CFPB Director Rohit Chopra urging the CFPB to limit the use of “forced” arbitration provisions by banks and other consumer finance companies. According to reports appearing in Law360 and BNA , at a virtual event organized by Public Justice and held the day after the letter was sent, Director Chopra expressed concerns about such provisions and is trying to “figure out what the path forward is.”.

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Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance

Commercial lending is on the verge of a resurgence, but traditional processes are an obstacle. Explore the top 3 reasons for resistance to digital transformation and how overcoming them can pave the way for growth and efficiency. Discover why embracing automation and digital solutions is crucial for success in today's competitive landscape. Discover how GoDocs helps commercial lenders in the digital era with seamless integration and a borrower-focused approach.

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Truss tax cuts will hand big banks and insurers £6.3bn, study says

TheGuardian

Figures compiled by House of Commons Library measure impact of freezing corporation tax and cutting banking surcharge Liz Truss’s government has been criticised for lining up tax cuts that will help big banks and insurers save more than £6bn over the next two years. The figures, compiled by the House of Commons Library, come as the chancellor, Kwasi Kwarteng, prepares to freeze corporation tax as part of the government’s mini-budget on Friday.

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QR code resurges for payments

Payments Dive

“Businesses that have consigned QR technology to the tech graveyard would be wise to give it another look,” writes Mike Storiale, Synchrony’s VP of innovation development.

Payments 243
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Auriga to exhibit at MoneyLIVE Building Societies

Bobsguide

Auriga will be attending the MoneyLIVE Building Societies conference alongside leading banks and experts from across the industry on 20th September in Birmingham (The Studio, 7 Cannon) to supercharge collaboration for building societies. There will be over 100 attendees who will be exploring themes such as: operational resilience, data insights, and effective business models.

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Corporate One Federal Credit Union Provides More Than 750 of America’s Credit Unions New Digital Solutions at Scale

BankInovation

Corporate One Federal Credit Union is a leading wholesale financial services provider for more than 750 of America’s credit unions. Recognizing that credit unions found core banking systems costly and slow to customize, Corporate One sought a technology partner with which to launch digital services that members could consume and adapt at speed and scale. […].

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Addressing Top Enterprise Challenges in Generative AI with DataRobot

The buzz around generative AI shows no sign of abating in the foreseeable future. Enterprise interest in the technology is high, and the market is expected to gain momentum as organizations move from prototypes to actual project deployments. Ultimately, the market will demand an extensive ecosystem, and tools will need to streamline data and model utilization and management across multiple environments.