South State Correspondent

NOVEMBER 7, 2023

We review hundreds of term sheets and proposals for commercial borrowers each month. One successful loan proposal tactic for community banks to improve their acceptance rate is to embrace the old marketing rule of the “power of three.” We often see banks proposing one or two options for a commercial borrower, and often, the options presented to the borrower are ones that are most prevalent and acceptable at the bank but not necessarily the option that may fit the borrower’s n

Community 195

Community Comparison Tools Marketing 195

SWBC's LenderHub

NOVEMBER 9, 2023

In our modern, digital world, the financial landscape is evolving—and fast. Today’s money moves at the speed of the Internet, which means banking isn’t what it used to be.

Digital Banking 148

Digital Banking 148

American Banker

NOVEMBER 6, 2023

From glitches in payment processing to the consequences of compliance failure, banks need to pay attention to a range of significant issues.

Industry 92

Industry Compliance Payments Community Bank 92

The Financial Brand

NOVEMBER 8, 2023

This article How A Chicago Credit Union Became a Personalization Powerhouse appeared first on The Financial Brand. How far can banking institutions get serving a segment? Chicago Patrolmen's Federal Credit Union has grown an uncommon market reach while focused on one common bond. This article How A Chicago Credit Union Became a Personalization Powerhouse appeared first on The Financial Brand.

Chicago 35

Chicago Branding Marketing National 35

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Lending

South State Correspondent

NOVEMBER 9, 2023

While technology has always been important in banking, it has yet to drive the essential functions of banking. Up to this point, if you could speak to a human, banking was easier. In the last year, this has started to change. With the rise of data, generative AI, personalization, instant payments, embedded banking, and traditional AI, the customer experience in banking is now often better through digital channels.

Trends 195

Trends Technology Fraud Data 195

Payments Dive

NOVEMBER 6, 2023

As consumer payment expectations continue to transform e-commerce experiences, billers should consider which emerging trends should be adopted.

Trends 221

Trends Payments 221

BankInovation

NOVEMBER 7, 2023

The Consumer Financial Protection Bureau proposed a new rule today that would subject large nonbank companies, including digital wallet providers and payments apps, to undergo the same supervisory exam process as banks — leveling the payments playing field.

Payments 66

Payments Company Regulation 66

Payments Dive

NOVEMBER 6, 2023

The card giant rolled out a cybersecurity apprenticeship program last year amid a talent deficit highlighted by the Biden administration.

Training 467

Training Cards 467

BankBazaar

NOVEMBER 7, 2023

Credit C ard churning is a rewarding practice if you can effectively manage the risks and challenges it presents. However, it ’ s essential to approach it with a responsible and informed mindset. Credit Card churning is a practice that has gained popularity among savvy consumers looking to make the most of their Credit Card spending. It involves strategically opening and closing Credit Card accounts to take advantage of welcome bonuses, rewards programmes, and other perks offered by Credit Car

Cards 78

Cards Meeting Management Retail 78

Speaker: Brian Muse-McKenney, Chief Revenue Officer & Matt Simester, Cards and Payments Expert

In today’s world of social media, dating apps, and remote work, businesses risk becoming irrelevant or getting "ghosted" if they fail to meet the evolving needs of Gen Z consumers. In this new webinar, Brian Muse-McKenney of Episode Six and Matt Simester of Payments Consultancy Limited will reveal key considerations banks should factor into their efforts to develop target products for the next generation of bank customers.

Fintech

Perficient

NOVEMBER 10, 2023

Retail banks respond to the Federal Reserve’s short-term interest rate adjustments with corresponding changes in lending and deposit rates. However, in the current rising interest rate environment in the United States since 2022, loan rates have adapted more rapidly than deposit rates. Sir Isaac Newtown’s first law of motion, which states that an object in motion will stay in motion and an object at rest will stay at rest unless acted upon by an external force, can be applied to retail depositor

Risk Management 221

Risk Management United States FDIC Compliance 221

CFPB Monitor

NOVEMBER 6, 2023

The Federal Trade Commission recently prevailed on summary judgment in a case against Jonathan Braun and his company RCG Advances, LLC. The product at issue, merchant cash advances, generally provide small businesses with critical and timely financing, and there was no dispute that the defendants gave these businesses upfront lump-sums of money in exchange for the right to collect future receivables. .

Company 212

Company 212

Payments Dive

NOVEMBER 8, 2023

Nearly 3% of millennials are newly delinquent as of the third quarter this year, slightly up from 2.5% in Q3 2019, according to a report from the Federal Reserve Bank of New York.

New York 418

New York Millennials Cards Report 418

ATM Marketplace

NOVEMBER 7, 2023

Digital wallets continue to transform the way we pay for goods and services. These convenient and secure payment methods are becoming increasingly popular, and they are having a major impact on the payments landscape.

Security 118

Security Payments 118

Speaker: Gary Dmitriev

Our upcoming webinar aims to demystify the process of selecting and implementing automation tools for financial institutes. This session will provide your roadmap for vetting potential solutions, focusing on due diligence, vendor assessments, and aligning technology with strategic goals. We’ll also address the critical issue of innovation fatigue, offering tips on maintaining enthusiasm and momentum for new initiatives.

Innovation

TheGuardian

NOVEMBER 9, 2023

Historian and Sapiens author says sophistication of technology makes it difficult to forecast its dangers Artificial intelligence could cause a financial crisis with “catastrophic” consequences, according to the historian and author Yuval Noah Harari , who says the technology’s sophistication makes forecasting its dangers difficult. Harari told the Guardian a concern about safety testing AI models was foreseeing all the problems that a powerful system could cause.

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System Technology 111

Commercial Lending USA

NOVEMBER 7, 2023

In the dynamic world of hospitality, embarking on a journey of hotel ownership can be a highly rewarding venture. Yet, this path often demands substantial financial investments.

Lending 98

Lending 98

Payments Dive

NOVEMBER 8, 2023

The restaurant fintech noticed “a modest slowdown” in same-store sales in the latter half of the third quarter that continued into October, the company’s CFO said Tuesday.

Fintech 417

Fintech Company 417

ATM Marketplace

NOVEMBER 10, 2023

What is the key to banking success in the current market? The answer is to overhaul customer experience strategies to meet consumers where they are.

Customer Experience 109

Customer Experience Strategy Meeting Marketing 109

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Shifting liability for digital fraud losses represents a significant challenge for financial institutions and payment service providers. In response to the global surge in digital fraud, regulators are introducing policies that transfer the cost of fraud from defrauded customers to financial institutions. ThreatMark’s newly released white paper, "The Liability Shift: Understanding Fraud Losses Responsibility and Mitigation," provides an in-depth analysis of this shift, its implications, and stra

Fraud

Ublocal

NOVEMBER 6, 2023

When the Northeastern Vermont Regional Hospital emergency room opened 50 years ago, it was serving about ten patients per day. Over the past five decades health care needs have changed, and the ER now serves an average of 38 patients each day, with some days seeing up to 50 to 60 patients. This dramatic increase in patient visits has caused an enormous strain on the facility and presented daily challenges for its dedicated staff.

Vermont 98

Vermont Regional New Hampshire Community 98

American Banker

NOVEMBER 6, 2023

FTX's implosion made it even harder for crypto-related businesses to work with U.S. banks. With the fraud conviction of the company's founder, regulatory clarity may gradually come.

Fraud 99

Fraud Company cryptocurrency Technology 99

Payments Dive

NOVEMBER 8, 2023

The bank, between 2015 and 2021, denied certain credit card products to applicants with surnames ending in “ian” and “yan,” suffixes that Citi employees associated with Armenian national origin, the CFPB said.

National 396

National Cards 396

CFPB Monitor

NOVEMBER 9, 2023

The Federal Trade Commission recently announced that it has entered into a settlement with Bridge It, Inc. (“Brigit”), the operator of a personal finance mobile application, to resolve the FTC’s allegations that Brigit engaged in unfair and deceptive acts or practices in violation of Section 5 of the FTC Act and engaged in conduct that violated the Restore Online Shoppers’ Confidence Act (“ROSCA”). .

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Operations Mobile Online 78

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Case Study

TheGuardian

NOVEMBER 10, 2023

Move follows resignation of CEO over row linked to closure of former Ukip leader’s bank accounts NatWest has scrapped more than £7.5m that was due to be paid to Alison Rose, the banking group’s former chief executive, who was forced to resign over a scandal linked to the closure of Nigel Farage’s bank accounts. The board of NatWest said that following her resignation, future unvested share awards worth £4.7m would lapse and not be paid out.

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Groups 93

American Banker

NOVEMBER 5, 2023

The Treasury Department is expanding a whistleblower program, which currently deals only with anti-money-laundering violations, to include tips from employees of financial institutions that result in sanctions-related penalties.

Compliance 94

Compliance Regulation 94

Payments Dive

NOVEMBER 8, 2023

Jack Henry & Associates recorded an increase in the number of customers connected to the new Federal Reserve instant payments system, but they’re all in receive-only mode.

System 394

System Payments 394

CFPB Monitor

NOVEMBER 9, 2023

The CFPB recently issued a policy statement in which it provided a framework for determining what constitutes abusive conduct under the CFPA. After reviewing the definition of abusive in the CFPA and the historical background of the adoption of an abusive standard in the CFPA, we examine how the policy statement addresses each element of the abusive standard and share our observations as to the policy statement’s implications. .

Policies 78

Policies 78

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Most people dread the nearing of the month-end close and reconciliation process, and who can blame them? It's typically a tedious, long, stressful process; but it doesn't have to be. Implementing automation into your month-end process can significantly reduce this headache by automating up to 40% of your reconciliation and saving nearly 30% of your time spent.

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