Sat.Feb 11, 2023 - Fri.Feb 17, 2023

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Quantifying Your Market When Raising Deposits

South State Correspondent

Last week we highlighted the lessons that machine learning taught us about the Unified Deposit Formula ( HERE ). Embodied in the Unified Deposit Formula is a marketing and amplification equation. In this article, we expand on the lessons we learned from artificial intelligence regarding raising deposits and explore how we can better use the Formula, and its lessons, to optimize deposit gathering.

Marketing 195
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Payments firms gear up for new ISO standard

Payments Dive

The Clearing House and other payments players, including Swift, are readying for the March rollout of a international payments standard.

Payments 514
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FinCEN’s AML/CFT Priorities: A risk assessment perspective

Abrigo

Develop your risk assessment with the AML/CFT priorities in mind Evaluating each FinCEN priority and addressing them in your financial institution's risk assessment is key to compliance. You might also like this upcoming webinar, "BSA officer’s mindset: A comprehensive look at your AML/CFT program." register now Takeaway 1 The FinCEN priorities underscore the major financial crime issues facing the U.S.

Fraud 195
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How Embedded Finance is Changing Purchasing & Borrowing Behaviors

Perficient

In the first two blogs in this series, Getting Started On Embedded Finance and Embedded Finance: Bolstering Brand Experiences, we defined embedded finance and looked at the goals and strategies that firms should take at the outset of their modern embedded finance journey, as well as how and why firms should consider getting embedded banking. In this blog, we will look at how a non-banking firm can offer bank-like payments and loans to its customers.

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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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How a Loan Hedge Leverages The Yield Curve – Part II

South State Correspondent

In a previous article , we discussed the three generic shapes of the yield curve: normal, inverted, and flat. We also pointed out that the current inverted yield curve is unusual and is expected to last for the near term. The average community bank’s cost of funding is highly correlated to Fed Funds and SOFR (for the industry, the correlation has been 94% with a six-month lag over the last 20 years).

More Trending

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FAQs: CFPB small business data collection info for lenders

Abrigo

What to know about the CFPB 1071 rule affecting small business loans This post provides answers to some frequently asked questions about data requirements and other changes likely from the new rule. You might also like this checklist for preparing for the CFPB 1071 rule DOWNLOAD Takeaway 1 Bank and credit union executives are worried about complying with the CFPB's upcoming final rule on small business loan application data.

Data 195
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Starting Down the Road to Supply Chain Visibility

Perficient

In the last blog in this series, Blockchain: The Secret Sauce to Supply Chain Visibility , we covered why visibility is so important in the supply chain for all parties and gave several examples of firms using distributed ledgers to help improve customer service, reduce inventory costs, provide proactive status updates, and even help mitigate risk. In this blog, we thought we would answer one of the first questions clients and potential supply chain clients have asked: what is the process of pr

Meeting 275
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ATM XFS standard to transform industry

ATM Marketplace

While historically a slow moving industry, the ATM industry is moving forward with a OS agnostic platform that aims to transform the industry. The platform, called XFS4IoT, aims to provide benefits to vendors, banks and users.

ATM 133
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Toast acquires drive-thru tech company

Payments Dive

Adding Delphi Display Systems’ technology helps Toast more broadly serve its quick-service restaurant customers, the company’s executives said.

Company 431
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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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NatWest CEO receives £5.2m in pay as bank reports largest profits since 2007

TheGuardian

Alison Rose becomes group’s second-highest-paid boss after disgraced ex-banker Fred Goodwin The chief executive of NatWest, Alison Rose, received a £5.2m pay packet in 2022, becoming the bank’s second-highest-paid boss after the controversial ex-banker Fred Goodwin, after the lender reported its largest profit since before the 2008 financial crisis.

Report 125
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Fascinating laser research projects you wish you thought of (Part 1 of 9): Cisco Optics Podcast Ep 35

Cisco

Episode 35 of the Cisco Optics Podcast is now posted! See below for episode notes. Cisco Optics Podcast Episode 35 Fascinating laser research projects you wish you thought of, with Juliet Gopinath.

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Podcast: A classic love story gets its start in a D.C. bank branch

ABA Community Banking

For Valentine's Day, the ABA Banking Journal Podcast brings you a classic bank-meets-girl-meets-boy love story. The post Podcast: A classic love story gets its start in a D.C. bank branch appeared first on ABA Banking Journal.

Meeting 119
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Credit card debt surpasses pre-pandemic levels: Fed

Payments Dive

Despite a pause in payments required for federal student loans, younger borrowers particularly are showing higher credit card delinquencies.

Cards 434
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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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Riots erupt in Nigerian cities as bank policy leads to scarcity of cash

TheGuardian

Angry protesters attack ATMs and block roads in frustration at lack of new banknotes days before election Rioters have attacked bank ATMs and blocked roads in three Nigerian cities as anger spilled on the streets over a scarcity of cash, just days before the country’s general election. Nigeria has been struggling with a shortage in physical cash since the central bank began to swap old bills of the local naira currency for new ones, leading to a shortfall in banknotes.

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FICO Named America's Best Mid-Sized Employer by Forbes Magazine

FICO

Home Blog FICO FICO Named America's Best Mid-Sized Employer by Forbes Magazine FICO recognized by Forbes for the third consecutive year Saxon Shirley Thu, 05/12/2022 - 07:46 by Richard Deal expand_less Back To Top Thu, 02/16/2023 - 20:00 FICO was recently named one of America’s Best Mid-Sized Employers by Forbes Magazine for the third consecutive year — ranking in the top quintile overall and #7 in the IT, Internet, Software & Services Industry segment.

America 98
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TD Bank exec joins Bank Automation Summit US 2023

BankInovation

Alyson Karow, head of small business digital channels at TD Bank, will join the panel “At the Core: Strategies for Addressing Legacy Core Systems” at Bank Automation Summit U.S. 2023 on Thursday, March 2, at 2:15 p.m. ET, at the Westin Charlotte in Charlotte, N.C. View the full agenda for the Bank Automation Summit U.S.

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SpotOn aims to unseat restaurant rivals

Payments Dive

The restaurant payments and software company is battling Toast and Square and taking on legacy payments companies such as NCR and Oracle.

Software 435
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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.

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ABA, National Bankers Association hold first MDI partnership summit

ABA Community Banking

During the first MDI Partnership Summit held this week in Orlando, Florida, participants from minority depository institutions and banks across the country gathered to discuss approaches to better serve the unique banking needs of communities of color and low- to moderate-income communities. The post ABA, National Bankers Association hold first MDI partnership summit appeared first on ABA Banking Journal.

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US Card Skimming Grew Nearly 5x in 2022, New FICO Data Shows

FICO

Home Blog FICO US Card Skimming Grew Nearly 5x in 2022, New FICO Data Shows Debit card skimming grew at the unprecedented rate of 368% from 2021 to 2022, but there are steps banks and consumers can take to combat compromised cards Darcy Sullivan Thu, 02/16/2023 - 15:43 by Debbie Cobb Senior Director, Product Management expand_less Back To Top Thu, 02/16/2023 - 15:35 In August of 2022, I explored the radical increase in card skimming for the first half of 2022.

Cards 98
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DocuSign to cut 10% of workforce in restructuring plan

BankInovation

DocuSign announced a restructuring plan via SEC filing Thursday detailing its plans to cut “approximately” 10% of its roughly 7,000 employees as part of a reorganization effort. “The restructuring mainly impacts our worldwide field organization.

Maine 98
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Credit metrics creep toward prepandemic levels

Payments Dive

Delinquency rates for Discover, Synchrony and Bread all rose in January relative to December levels.

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Top 10 Benefits of Automating Loan Modifications for Commercial Lenders

Get ready for the wave of $1.2 trillion in commercial debt maturing in the next 24 months with GoDocs' ModDocs® platform. Traditional loan modifications are slow, expensive, and prone to errors, which put lenders at risk. But with ModDocs®, you can enjoy an innovative solution that eliminates attorney fees, allows on-the-fly loan modifications, and ensures compliance.

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Barclays staff to share £1.2bn in bonuses despite drop in profits

TheGuardian

The 15% fall in profits follows costs of US trading blunder and money being put aside for defaults by borrowers Barclays staff will share £1.2bn in bonuses this year despite a 15% drop in the bank’s annual profits after it was hit by the costs of a US trading blunder and more money being put aside for a potential jump in defaults by borrowers. The bank revealed in its annual report on Wednesday that its staff bonus pool would go relatively untouched, with top performers to share £1.2bn between t

US 96
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A love letter to planet Earth

Cisco

I grew up 228 miles northwest of New York City in a rural village dotted with small farms. It was in this environment that I felt closest to planet Earth.

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Bank of America to spend $3.7B on tech development in 2023

BankInovation

Bank of America is increasing its technology development spend 9% year over year in 2023 as the bank continues to invest in digitization. The $3.1 trillion bank will spend $3.7 billion on technology development in 2023, up from $3.

America 98
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Gun merchant code to be published this month

Payments Dive

Once it’s published, use of the new code “is eventually left up to the users in the industry,” an ISO spokesperson said.

Industry 300
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Finding “The One:” The Ultimate Guide to Selecting Financial Software

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

As finance and accounting practitioners, you are expected to complete daily operations as well as to manage next generation tools and resources to support a business that is growing in complexity. Having the right software can be critical in juggling and meeting those high expectations. The path to the right software, however, is paved with challenging decisions.