Sat.Aug 31, 2024 - Fri.Sep 06, 2024

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Predicting Bank Performance with Declining Rates

South State Correspondent

Most community bankers we talk believe they will get a boost to bank performance with declining short-term rates. The thinking is that a lower Fed Funds rate will mitigate credit risk, spur loan demand and potentially soften competition for deposits, leading to wider NIM and more profitability. Unfortunately, the empirical evidence shows otherwise.

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5 Times To Choose Credit Over Cash

BankBazaar

Still using cash because you’re so used to it? Here are 5 reason The post 5 Times To Choose Credit Over Cash appeared first on BankBazaar - The Definitive Word on Personal Finance.

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Dialing Up Performance in Home Equity Lending

Gonzobanker

A few key focus areas can help lenders stay on top of the home equity game. With the inefficient, circa-2004 borrowing processes resident in many banks’ loan departments today, too few lenders are equipped to deal with the rising tide of home equity volumes that will descend like a tsunami on their operations the moment Fed chairman Jerome (What-Are-We-Waiting-For) Powell announces a rate cut.

Lending 144
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Ex-Discover exec alleges age, gender bias in lawsuit

Payments Dive

Diane Offereins is suing the card network over roughly $7 million in clawed-back equity, claiming she was a “convenient scapegoat” for Discover’s card misclassification issue.

Cards 195
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If It Aint Broke, Don’t Fix It: A Dangerous Mindset

Time and time again we tell ourselves and others NOT take action on something that is not "broken." We apply that mindset at home and at work. Sometimes, it doesn’t work out so well. Because when it's truly broken, it's usually an emergency, costs more and causes stress. Join us in this webinar where we share ways where you are able to anticipate your needs, understand benefits that you will get from getting better now instead of later, and relieving your team of tasks that they don't need to be

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Facing the financial wellness challenges of high-net-worth women

American Banker

As more women generate and steward great wealth, they must also strive to develop and maintain financial wellness. The wealth management industry has a vital role to play in helping dynamic women on their journey.

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Banks must modernize or fall behind

ATM Marketplace

In an era where digital innovation is paramount and cybersecurity threats are more prominent than ever, financial institutions find themselves at a critical crossroads.

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Viral JPMorgan Chase glitch is ‘fraud, plain and simple,’ bank says

Payments Dive

Some customers deposited bad checks and immediately withdrew funds before the checks bounced in a glitch that went viral on TikTok. Now, some users have holds on their accounts.

Fraud 369
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UK reportedly poised to slash amount banks must refund to fraud victims

TheGuardian

Regulator said to be planning cut to maximum amount available to victims from £415,000 to about £85,000 The UK is reportedly poised to slash the planned maximum amount that banks will have to refund to fraud victims – from £415,000 to about £85,000 – after strong lobbying from lenders, fintechs and some politicians. Fraud in the UK payments industry has soared in recent years, with a sharp rise in authorised push payment (APP) scams, which often involve email accounts being hacked to trick peopl

Fraud 111
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Teacher’s Day Special – 3 Classic Teacher’s Dialogues That Can Double Up As Financial Advice

BankBazaar

Our nation owes a debt of gratitude to our teachers. Their impact on generations of Indians cannot be underestimated. This Teacher’s Day, we pay tribute to the ones who shaped our lives and also throw in some financial lessons that we could all benefit from. It’s Teacher’s Day and it’s time to step up and salute teachers everywhere who have shaped the course of our lives in more ways than one.

US 78
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The 2024 Lenders Guide to Automating the Complex Loan

Download the latest edition of GoDocs' "The Lender's Guide to Automating the Complex Loan." This comprehensive guide offers financial institutions valuable insights into document automation for complex commercial loans. It unpacks the intricacies of complex loans and showcases how an automation platform like GoDocs — the leading commercial loan closing platform — delivers impressive benefits and ROI to any FI.

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A non-alarmist guide to the risks in commercial real estate

American Banker

Prophecies about a wave of bank failures caused by sickly CRE loans haven't yet come true. But there are still plenty of caution signs in a saga that will take years to play out.

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CFPB’s EWA rule may undo progress

Payments Dive

“The CFPB’s plan to reclassify EWA as a loan could accidentally backfire on the agency by driving people right back to the payday lending industry,” writes one tech trade group professional.

Lending 273
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Chase warns against using system glitch to filch cash: it’s ‘fraud, plain and simple’

TheGuardian

Warning comes after viral TikTok posts where customers purportedly tried to withdraw more money than they had The US banking giant Chase has made clear that taking advantage of a system “glitch” to extract cash was “fraud, plain and simple” despite it becoming a TikTok trend. Chase Bank’s warning on Monday came in response to viral social media posts where customers purportedly tried to withdraw more money than they had in their accounts by exploiting a banking system delay.

System 92
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Take The 30-Day Challenge To Improve Your Credit Score

BankBazaar

Your mission, should you choose to go through with it, is to improve your Credit Score in 30 days. Below are the essential hacks you need to employ to succeed in this mission. Are you ready? Let’s go! How much can be done in 30 days? Turns out, a lot – especially if you’re talking about your Credit Score. Yes, it’s true. Now, before we go ahead, let’s set the expectations right.

Cards 78
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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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Connect, Create, and Celebrate: Why Jack Henry Connect Is the Must-Attend Event of 2024

Jack Henry

Here’s a sneak peek of Jack Henry Connect 2024! Click to learn how Jack Henry Connect will deliver a unique blend of inspiration, innovation, and fun.

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Academics question digital wallet security

Payments Dive

Due to lax authentication practices, a thief or hacker can easily add a stolen credit card to their own digital wallet, the study concluded.

Security 243
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The cannabis industry needs standardized methods of risk assessment

American Banker

Cannabis is becoming a big business in the U.S., but companies in the field still struggle to find financing. A broadly accepted way of assessing their creditworthiness would be a huge help.

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Fintech funding: AI accounts for 30% of $24B Q2 investment

BankInovation

While fintech funding has slowed in recent quarters, companies that focus on AI are attracting investor dollars. Funding for AI-focused fintechs more than doubled quarter over quarter to $24 billion in the second quarter, accounting for 30% of investments, according to Crunchbase. “AI is really changing the path,” Lisa Calhoun, founding managing partner at Valor […] The post Fintech funding: AI accounts for 30% of $24B Q2 investment appeared first on Bank Automation News.

Fintech 79
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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

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5 Ways You Can Be Your Credit Score’s Secret Santa

BankBazaar

The post 5 Ways You Can Be Your Credit Score’s Secret Santa appeared first on BankBazaar - The Definitive Word on Personal Finance.

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Maryland gets tough on BNPL

Payments Dive

Two buy now, pay later companies pivoted in offering their services in the state because it insists they must be licensed to provide loans.

Maryland 243
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Regulators' safety and soundness judgments face questions

American Banker

Recent Supreme Court decisions reducing the ability of regulatory agencies to interpret the meaning of federal laws make it likely that supervisory decisions based on assessments of banks' safety and soundness will face court challenges.

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78% of regional FIs say AI can help find new business

BankInovation

Regional and community banks are investing in AI for new business opportunities, revenue growth and efficiency gains. “Financial institutions are quite bullish when it comes to AI,” Allison Cerra, chief marketing officer at fintech Alkami, told Bank Automation News. “They’re looking at this as kind of a broader catch-all of business opportunities, not necessarily […] The post 78% of regional FIs say AI can help find new business appeared first on Bank Automation News.

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How Unify Turned Month-End Mayhem Into a Growth Party With Automation!

By ditching paper and manual checklists, UNIFY embraced ART’s cloud-based solution for seamless automation. The robust dashboards, exception reports, and completion date reports allowed the team to easily track progress and resolve bottlenecks. ART’s flexible access for auditors ensured tight deadlines were met effortlessly. With competitive pricing and a rapid setup, ART cut costs and minimized disruptions, enabling UNIFY’s team to concentrate on high-impact tasks.

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Top Credit Cards to Save on Fuel in 2022

BankBazaar

The post Top Credit Cards to Save on Fuel in 2022 appeared first on BankBazaar - The Definitive Word on Personal Finance.

Cards 78
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Visa to upgrade pay-by-bank service in UK next year

Payments Dive

The card network plans to make the account-to-account service available to consumers for paying bills, like rent, but eventually for other uses too, such as digital streaming.

Cards 195
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Earnings recap: Citigroup's OCC plan, First Guaranty layoffs

American Banker

From Citigroup's positive earnings butting up against fines from the Office of the Comptroller of the Currency, to First Guaranty's 15% layoff, here are earnings highlights to be mindful of.

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TD chief says probes show need for better staff accountability

BankInovation

Toronto-Dominion Bank employees need to take more accountability and act with more urgency on risks, Chief Executive Officer Bharat Masrani said, after the Canadian bank was rocked by sweeping money-laundering investigations in its US business. “The big lesson is you can’t take anything for granted,” Masrani said Wednesday at a financial-industry conference hosted by Bank […] The post TD chief says probes show need for better staff accountability appeared first on Bank Automation News.

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5 Things Lenders Need to Know About Portfolio Loans & Their Documentation

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.