Perficient

MAY 15, 2023

Given that 81.5% of Americans are considered “fully banked,” many opportunities exist for financial services institutions to take advantage of the vast amount of customer data they possess. Here are three ways financial services institutions can reap the benefits of a data-driven mindset. 1. Improved Productivity & Efficiency. Institutions that prioritize their data will realize the importance and benefits of optimizing data processes.

Data 267

Data New York City Conference Fraud 267

ABA Community Banking

MAY 18, 2023

The cover story of the latest issue of the ABA Banking Journal features an unprecedentedly transparent look into what happens inside a financial institution during and after a ransomware attack. The post Podcast: The anatomy of a community bank ransomware attack appeared first on ABA Banking Journal.

Community Bank 52

Community Bank Community Risk Management Compliance 52

Abrigo

MAY 19, 2023

Does your loan review system meet regulatory expectations? Read more for specific objectives every loan review system should meet. You might also like this webinar, "Return to basics: Asking the right credit risk questions." WATCH Takeaway 1 Loan review officers must figure out how to adhere to the FDIC’s guidance on loan review and credit risk review systems.

Regulation 195

Regulation System Lending How To 195

South State Correspondent

MAY 15, 2023

Last week we spoke to a $1.2B community bank management team. The CLO was lamenting how he was losing quality loans and deposits to three aggressive national banks in the territory. An example was a $1.95mm owner-occupied CRE loan, where the borrower had multiple operating accounts totaling almost $500k. While this community bank is not aggressively pricing new loans, losing this commercial credit with a substantial deposit relationship was painful.

National 195

National Community Bank Lending Payments 195

Advertiser: Data Robot

Generative AI is taking the world by storm, but the questions that all CEOs, data leaders, and AI leaders are being asked are: What are we going to do about it, and what is our plan? The business and creative possibilities are practically limitless with generative AI. From productivity gains to finding new routes to revenue generation, generative AI is going to radically transform how we work.

Technology

Payments Dive

MAY 16, 2023

First-quarter credit card balances jumped 17% over the same period last year, according to New York Fed data.

Cards 362

Cards New York Data 362

Abrigo

MAY 19, 2023

Loan reviewer training and development What might a loan review curriculum look like and how can your financial institution develop good loan reviewers? You might also like this webinar, "Return to basics: Asking the right credit risk questions." WATCH Takeaway 1 Loan review departments often lack funds for training and education, but a shortage of experienced loan reviewers is a challenge for many banks.

Training 195

Training Lending Risk Management Regulation 195

South State Correspondent

MAY 18, 2023

This month, we rolled out “Tate,” our generative AI chatbot driven by ChatGPT that was designed to increase the productivity of our employees and allow us to become familiar with large language models. It’s been two weeks since its introduction, and we have already learned more than we bargained for. As one of the first banks to bring this to production, we break down the seven most important lessons we have learned so far in hopes of making your institution’s path easier.

US 195

US Data Examples Groups 195

Payments Dive

MAY 17, 2023

The digital payments company is considering a sale of its Xoom cross-border business, The Information reported, citing an unnamed source.

Report 468

Report Payments Company 468

ATM Marketplace

MAY 16, 2023

Is traditional banking dead? Or is it transforming? The answer may lie in keeping the traditional touch while integrating innovative technology: like Valley Bank's recent digital signage makeover.

Innovation 97

Innovation Technology 97

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

Business operations are getting increasingly complex, shareholders are demanding more, and your auditors are breathing down your neck like never before. In this high-pressure environment, it’s important to remember that reconciliation activity is your last line of defense against financial fraud and errors. Insisting on a manual process to handle month-end reconciliations is a risky endeavor that places an undue burden on your accounting team.

Fraud

Abrigo

MAY 18, 2023

How to evaluate loan review processes based on their scope and depth A closer look at loan review can help your institution determine what steps to take to please regulators and streamline processes. You might also like this webinar, "Return to basics: Asking the right credit risk questions." WATCH Takeaway 1 Scope and depth are useful evaluation benchmarks for your financial institution's loan review process.

Lending 195

Lending Regulation Guidelines Risk Management 195

FICO

MAY 16, 2023

Home Blog Feed test FICO and Chelsea Football Club to Raise Financial Literacy in U.S. Strategic partnership between Chelsea FC and FICO aims to make a positive impact on the communities where games are played Tue, 05/16/2023 - 18:46 Saxon Shirley by Nikhil Behl Chief Marketing Officer expand_less Back to top Tue, 05/16/2023 - 18:35 Chelsea Football Club today announced a new partnership with FICO, the world’s leading provider of analytics software, solutions and services.

North Carolina 98

North Carolina United States Atlanta Illinois 98

Payments Dive

MAY 15, 2023

“Regional regulatory bodies must work together on common financial standards that support multilateral payment systems if we are to make progress,” writes one payments professional.

Payments 243

Payments How To Regional System 243

CFPB Monitor

MAY 19, 2023

Following recent Senate testimony in which OpenAI CEO Sam Altman proposed additional Congressional oversight for the development of artificial intelligence (AI), Colorado Senator Michael Bennet has re-introduced the Digital Platform Commission Act , a bill that would enable the creation of a federal agency to oversee the use of AI by digital platforms. .

Regulation 78

Regulation Colorado 78

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What to expect? The commercial and industrial (C&I) lending sector has been undergoing a transformation in recent years thanks to technological advancements and changes in customer expectations. The traditional way of lending, where commercial lenders relied on manual attorney processes and legacy software solutions, is slowly becoming obsolete.

Lending

SWBC's LenderHub

MAY 18, 2023

Across the board, the largest asset a financial institution has is its loan portfolio. But each financial institution is unique regarding its business goals and borrower demographics; therefore, finding the right loan risk management program can be elusive. Financial institutions should carefully evaluate their current and future exposures to risk, internal systems and resources, and legal considerations when choosing the right one.

Risk Management 78

Risk Management Management Resources System 78

BankBazaar

MAY 15, 2023

Say hello to Sarita Povaiah our Jedi Master of Product Content Wizardry who flawlessly fuses design, and customer voice into a symphony of awesomeness! With an insatiable curiosity and a zeal to learn, she embarked on her adventure with us in August 2014. She embraced the thrill of setting up a team, learning from her mistakes, and thinking on her toes to fill any gaps that arose.

US 78

US How To Management 78

Payments Dive

MAY 19, 2023

“For the dollar to maintain its status, it is important for U.S. elected officials and other policymakers to make decisions that instill confidence in our economy and institutions,” a New York Fed official said Thursday.

New York 221

New York 221

CFPB Monitor

MAY 18, 2023

The Consumer Financial Protection Bureau (CFPB) published a Small Entity Compliance Guide (“Guide”) covering the amendments to the Equal Credit Opportunity Act (ECOA) and Regulation B, which implement requirements of Section 1071 of Dodd-Frank. These amendments require that financial institutions compile and report certain data regarding certain business credit applications, as explained in our blog.

Compliance 78

Compliance Lending Regulation Report 78

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Discover a modern, cloud-based collection system that never takes a rest day. MeridianLink® Collect is an intuitive platform with advanced customization options developed to simplify the collections process. Here are four ways MeridianLink Collect can support your team: Omnichannel communications Compliance rules & checklists Workflows & queues One interface with supporting integrations And that’s just the start.

Software

BankInovation

MAY 19, 2023

The banking landscape is in a state of flux. Emerging financial technology companies have built new services and offerings that place the customer experience front and center, providing a flexibility and speed that traditional banking institutions struggle to match.

Community Bank 85

Community Bank Regional Community Fintech 85

BankUnderground

MAY 19, 2023

Ambrogio Cesa-Bianchi, Federico Di Pace, Aydan Dogan and Alex Haberis The recent steep rise in energy prices led to a rise in the price of energy-intensive tradable goods, with inflationary pressures subsequently broadening into services in many economies. Because services are less traded and have little energy input some have suggested this broadening might indicate inflationary pressures becoming more persistent.

Policies 84

Policies Analysis Marketing Resources 84

Payments Dive

MAY 19, 2023

Despite that finding, the company noted an independent auditor’s evaluation of the company’s 2022 financial statements “remains unchanged.

Company 221

Company 221

CFPB Monitor

MAY 18, 2023

Our discussion looks at the role of in-house and outside counsel in the development and launch of new consumer financial products. We first discuss the range of issues to be considered as part of the preliminary scoping process, including state licensing, marketing, underwriting, servicing, and collection issues. We turn next to the process of addressing potential legal obstacles and problems that are identified in scoping, including what consideration should be given to competitors’ approache

Regulation 78

Regulation Management Marketing 78

Advertiser: Data Robot

As enterprises evolve their AI from pilot programs to an integral part of their tech strategy, the scope of AI expands from core data science teams to business, software development, enterprise architecture, and IT ops teams. Enterprises need a platform that can make broader AI teams more productive, implementing more complex use cases and harnessing the fast pace of new AI technologies.

Strategy

CB Insights

MAY 16, 2023

Robinhood ’s Q1’23 earnings paint a grim picture of the profitability and growth challenges that retail investing apps and other fintechs face today: Net losses are compounding Active users are at a fraction of previous peaks Transaction-based revenues are up and down from one quarter to the next but aren’t growing over time This is old news to the public markets, as Robinhood’s market capitalization is down 77% compared to its exit valuation at IPO in July 2021.

Retail 94

Retail Fintech Capital Marketing 94

ATM Marketplace

MAY 19, 2023

A new ATM jackpotting variant is on the rise in Mexico. How can operators stop it?

ATM 113

ATM Software Operations 113

Payments Dive

MAY 17, 2023

Global Payments isn’t looking for more acquisitions — except in the B2B space, its outgoing CEO said.

Payments 273

Payments 273

CFPB Monitor

MAY 17, 2023

NYDFS recently issued Proposed Guidance “to New York State-regulated banking organizations and regulated non-depository financial institutions to notify them of the Department’s expectation that they update their framework for the review and assessment of the character and fitness of their directors, senior officers, and managers, both upon onboarding and on an ongoing basis.”.

New York 78

New York Management Regulation Industry 78

Speaker: Raul Perez, VP and CFO of Lancaster Leaf

Lancaster Leaf Tobacco Co Inc. is a subsidiary of Universal Corporation, the leading global leaf tobacco supplier. Lancaster Leaf supplies virtually all the major cigar manufacturers in the U.S. with filler, binder, and wrapper, and exports filler, binder, and wrapper to international cigar manufacturers. This all could mean a complicated month-end close - before automation.

Case Study