Sat.Nov 05, 2022 - Fri.Nov 11, 2022

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How one community bank is using technology to price deposits

American Banker

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Will AI save banks from the cyber hordes?

The Banker

AI is becoming increasingly critical for banks defending themselves against cyber attacks, a factor that is drawing interest from the regulatory community. By Justin Pugsley.

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How Should Companies Communicate in a Difficult Market?

William Mills

Although cultivating and fostering successful B2B relationships is an important goal for many fintech communicators, the process does not end there. We are seeing the phrase "cost of living" dominating the discussion around the current recession, bringing to light how it affects consumers daily. In times of pressure and rapid change, we as communication professionals must comprehend the difficulties, requirements, and motivations.

Company 79
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Why an economic downturn may be good for bank M&A

American Banker

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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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One woman's mission to save credit unions by championing diversity

American Banker

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Sibos: Banks readying to execute on sustainability goals

Accenture

This year’s Sibos conference in Amsterdam lifted the lid on how banks are grappling to become more sustainable and advance the fight against climate change. And what it revealed is tremendously encouraging. The conference hosted several presentations and discussions about environmental, social and governance (ESG) issues, ethical investing and energy transition.

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CECL implementation: Survey shows where peers are as 2023 nears

Abrigo

Financial institutions work to meet Q1 2023 CECL deadline A CECL implementation survey by Abrigo found progress by financial instittuions is mixed ahead of the upcoming deadline. . You might also like this: "Beyond CECL: Stress testing, ALM, and financial planning" DOWNLOAD. Takeaway 1 10% of banks and credit unions have completed CECL adoption, according to Abrigo's CECL implementation survey.

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The Bank Talent Acquisition Opportunity

South State Correspondent

Almost every bank has some form of “human capital management” in its top three challenges for the coming years. Attracting, acquiring, retaining, and training talent should be the cornerstone of any bank’s strategic effort as “people” indeed are our most valuable asset and far exceed the value of loans, deposits, and financial capital.

Capital 195
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Wex readies for acquisitions

Payments Dive

Acquisitions are part of Wex CEO Melissa Smith’s annual growth goals, and the deteriorating economy could present attractive targets, she said.

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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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Six ways to boost (or start) your metaverse presence

Accenture

Every day we see new reports of companies joining the metaverse. As bulky virtual reality (VR) headsets become a thing of the past, replaced by more comfortable, sleeker models, customers will come to expect many of their online interactions with companies to take place in the metaverse. But what does that mean for auto and…. The post Six ways to boost (or start) your metaverse presence appeared first on Accenture Banking Blog.

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Elder abuse: the crisis among veterans and ways to prevent elder fraud

Abrigo

Elder fraud prevention and education Learn strategies for recognizing and reporting elder fraud and exploitation. . Would you like other articles on BSA/AML training in your inbox? Takeaway 1 Elder abuse, exploitation, and fraud are rising in the veteran population and can devastate older Americans. Takeaway 2 Learn why veterans are a vulnerable population for this particular type of financial fraud.

Fraud 195
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Should You Be Marking Loans To Market?

South State Correspondent

Available-for-sale securities are reported at fair value, and any unrealized gains and losses are included in accumulated other comprehensive income (AOCI) in the equity section of the balance sheet. The AOCI is an accounting adjustment meant to reflect the economic value of assets and is the process of “marking loans to market.” That same adjustment can be applied to banks’ fixed-rate loans for economic value analysis to better understand value creation and allocation, prioritize

Marketing 195
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Preparing for the CBDC era

Payments Dive

Central bank digital currencies would allow for faster cross-border payments that would “help boost trade within the region and with the rest of the world,” an Equinix executive writes.

Regional 312
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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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Will Bank Wealth Managers Miss the Golden Opportunity?

Gonzobanker

New approaches to talent and technology are needed to address changes in the wealth management business model. Wealth management and trust clients are some of the most lasting and profitable relationships a bank can attract, but the banking industry is simply missing the opportunity to realize these businesses’ vast strategic potential. As banks experience rate volatility and future increases in their costs of funds, businesses that drive noninterest income like trust and wealth management will

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NCRC Files Appraisal Bias Complaints with HUD and Issues a Related Report

CFPB Monitor

The National Community Reinvestment Coalition (NCRC) recently filed two complaints against appraisers with the Department of Housing and Urban Development asserting different treatment based on race in violation of the Fair Housing Act. One complaint asserts different service levels based on race, and the other asserts different home valuations based on race, with White individuals receiving better service or home valuations than Black individuals.

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Ways banks are finding, and retaining, talent

ATM Marketplace

Banks are rethinking branch strategies in light of consumers wanting financial advice at branches instead of traditional banking services. However, a challenge remains: how to find the right employees to meet this need?

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Brex co-CEO: Fintech took ‘reputation hit’ after dropping customers

Payments Dive

Co-CEO and cofounder Henrique Dubugras regrets Brex’s handling of its June customer base changes, but said narrowing the company’s focus on startups was the right call.

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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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The Secret Genius of Modern Life review – irresistibly contagious TV

TheGuardian

Prof Hannah Fry is a joy, and will make you deeply excited about the weirdest things – like the magnetic strip on the back of your bank card Prof Hannah Fry brings her irresistible enthusiasm to the BBC for The Secret Genius of Modern Life ( BBC Two ), a documentary series about the seemingly simple everyday objects or ideas that we tend to take for granted, and how clever they really are.

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Zenus Bank chooses Finxact for digital transformation

BankInovation

Zenus Bank has tapped cloud-native core banking solution Finxact to scale its digital transformation. The San Juan, Puerto Rico-based bank’s new platform is expected to launch in April 2023 with Finxact capabilities operating on the Microsoft Azure cloud, Pedro Martinez, Zenus Bank’s chief information officer, told Bank Automation News. “We needed to rely on modern […].

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What does the future hold for ATMs, branches post COVID?

ATM Marketplace

COVID-19 impacted every industry, including banking and consumer expectations. What role with ATMs and branches play in the post-COVID world?

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Jack Henry & Associates bucks slowdown trend

Payments Dive

Executives for the tech services provider asserted that their pipeline of new business remains healthy despite economic headwinds beating up the rest of the industry.

Trends 273
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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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Federal District Court Vacates Biden Loan Forgiveness Plan

CFPB Monitor

On November 10, 2022, a federal district court in the Northern District of Texas entered judgment in favor of two plaintiffs on an Administrative Procedure Act (APA) claim seeking vacatur of the Biden administration’s plan to forgive approximately $400 billion in federal student loans under the HEROES Act of 2003. The court, citing a rarely used provision in Rule 65 of the Federal Rules of Civil Procedure, converted the plaintiffs’ motion for a preliminary injunction into a motion for summary ju

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Mortgage Firm Closure Spells Headache for Sterling Bank

Banking Exchange

Promontory MortgagePath has decided to shut its doors to new business due to difficult market conditions Retail Banking Duties Financial Trends Feature Technology Digital Feature3 Mortgage Credit Mortgage Mortgage/CRE.

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How Much Will Your Wedding Cost?

BankBazaar

Planning your wedding? Here’s something that will help you gauge how much your wedding will cost you. Read on to know more. Weddings are fun, especially if it isn’t yours! Because let’s face it, in our country weddings are tedious for the bride and groom due to the umpteen customs and practices. And it doesn’t end there. Weddings are expensive affairs too.

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Musk pushes Twitter toward payments

Payments Dive

“Give them some amount of money, like ten bucks or something, that they can send anywhere in the system,” said Twitter’s new owner, Elon Mus. “We need money transfer licenses for that, which we’ve applied for.

Payments 221
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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.