Accenture
JUNE 7, 2022
While culture has always played an important role in talent retention at banks, it hasn’t always received the focus and investment it deserves. But as the Great Resignation unfolds and record-breaking numbers of Americans continue to leave their jobs, and as the demand for talent (especially digital talent) in banking intensifies, the need to modernize organizational….
Accenture
JUNE 6, 2022
If you’re like me, you’re always looking for the most expedient way to get things done right. However, to my mind, what’s even better is finding a way that may offer a faster result and puts me in a favorable position to adjust as needed in the future. It’s like with home renovations. I ask…. The post How microservices could be your fast path to growth appeared first on Accenture Banking Blog.
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SWBC's LenderHub
JUNE 6, 2022
Chances are, your financial institution is currently looking to fill open positions—but we all know that work doesn’t stop coming in just because you don’t have the employees needed to handle it. As the Great Resignation shows no signs of slowing anytime soon, retaining your current team members is more critical than ever.
Payments Dive
JUNE 6, 2022
Bank of America and Wells Fargo have both been sued recently by consumers who allege they were defrauded by scam artists using Zelle payments.
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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
Perficient
JUNE 10, 2022
In a recent speech and interview with the Institute of International Economic Law at Georgetown University, current Acting Comptroller of the Currency Michael J. Hsu gave numerous remarks on the architecture of stablecoins. According to the Comptroller, the architecture for a stablecoin system can be viewed through the lens of three key policy issues: Stability.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
South State Correspondent
JUNE 9, 2022
Many community banks are searching for ways to increase fee income, and many bank CEOs have concluded that fee income is a significant driver of revenue and profitability. We argue that larger banks do not have an inherent advantage over community banks in generating fee income because of their scale. Most fee income generated by larger banks is not related to investment banking, wealth management, cryptocurrency, or Fintech.
Payments Dive
JUNE 8, 2022
As Toast adds services, the Boston startup is taking business from larger rivals and fintech peers, analysts say.
Abrigo
JUNE 8, 2022
June is Elder Abuse Awareness Month. June 15 is World Elder Abuse Awareness Day. Now is the perfect time for financial institutions to reassess elder financial exploitation red flags. You might also like this webinar, "Elder Financial Exploitation – The Hidden Crime." WATCH . Takeaway 1 Elder abuse and elder financial exploitation continue to be growing concerns.
SWBC's LenderHub
JUNE 6, 2022
Last Week. It was another wild rollercoaster ride for the financial markets in the holiday-shortened week as equities, corporate debt, and risk-free rates reminded me of Evelyn Cross (Faye Dunaway) in the 1974 classic, Chinatown, “Hard landing, soft landing, worst is over, still more to come, long rates capped, still have a long way to run, etc.”.
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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
South State Correspondent
JUNE 10, 2022
May CPI Hits 40-Year High. May CPI disappointed markets with a hotter-than-expected read and that has sent short to intermediate Treasury yields higher once again. The overall inflation rate rose a full 1.0% for the month which was well above the 0.3% increase in April and higher than the 0.7% expected. Rebounding gas prices and food were the primary culprits.
Payments Dive
JUNE 7, 2022
The Electronic Transaction Association and the Stellar Development Foundation provide their take on this week’s bipartisan Senate bill to create a regulatory framework for cryptocurrencies.
ATM Marketplace
JUNE 7, 2022
Do you know of an innovative solution or experience in the financial industry space that you think the world should know about? Then, you should submit a nomination for the Bank Customer Experience Summit Awards, but you need to do it fast, as submissions close June 10.
Cisco
JUNE 7, 2022
The past 20 years have visibly demonstrated the impact large scale events have on market, credit, and operational risks in financial services. Beginning with the bursting of the dot-com bubble, and more recently, the global COVID-19 pandemic, these events created significant volatility in stock prices resulting in increased market risk. In between these events, a different crisis began in the US sub-prime lending market.
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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.
South State Correspondent
JUNE 8, 2022
Banks don’t respect the power of understanding customer lifetime value (CLV). It is the one performance metric with the highest correlation to long-term bank profitability, around 88%. It is more important than margin, cost of funds, non-interest income, and loan profitability COMBINED. Not only do few banks calculate it, but many banks also spend resources destroying CLV without knowing it.
Payments Dive
JUNE 10, 2022
That was the annual increase tallied this week by EMVCo as part of its work to streamline payment protocols for merchants and improve the security of their transactions.
ATM Marketplace
JUNE 10, 2022
When thinking about innovation, ICX keynote speaker Andrew Laudato believes there are several factors businesses should follow to be successful and retain valuable employees. His biggest point of emphasis, however, is rather simple, but an aspect many companies overlook: Innovation thrives when you get your house in order.
Bobsguide
JUNE 10, 2022
EMIR Refit: 69% of firms expect serious challenges when building up matching, reconciliation and exception management capabilities. The incoming EMIR Refit regulation will increase sell-side and investment firms’ reporting requirements to a level where submitting new data fields and new combinations of actions and events could cause significant delays and run the risk of fines, a study from Acuiti has found.
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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.
South State Correspondent
JUNE 8, 2022
Oil Prices Hit Cycle High, Treasury Prices Head Lower. With the Treasury set to auction $21 billion in 10yr notes this afternoon, the market finds itself on the defensive yet again with the 10yr yield back over 3%, currently at 3.02%, off 11/32nds in price. In fact, 3-handle yields begin at the 5yr mark at 3.03% as inflation concerns, and just how many Fed rate hikes are in our future weigh on the market.
Payments Dive
JUNE 7, 2022
Apple Pay Later will let users split the cost of an Apple Pay purchase into four equal payments over a six-week period, with no interest or fees. It will be available via the Mastercard network.
ABA Community Banking
JUNE 9, 2022
The ABA Stonier Graduate School of Banking recognized 118 graduates yesterday, awarding Stonier diplomas and Wharton leadership certificates. The post ABA Stonier School Graduates 118 appeared first on ABA Banking Journal.
TheGuardian
JUNE 10, 2022
Assessment finds customers could access accounts despite any collapse but three banks have shortcomings The UK’s largest banks are no longer “too big to fail” and could foot the bill for their own failures, the Bank of England has said, but it found shortcomings at three banks including HSBC and Lloyds. Almost 14 years on from the financial crisis that threatened a collapse of the banking system and led to huge taxpayer bailouts, the Bank of England’s first public assessment of lenders’ “living
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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.
South State Correspondent
JUNE 8, 2022
For decades community banks have structured fixed-rate loans with adjustable features – the most popular structure is a ten-year fixed-rate loan with a five-year reprice. With short-term interest rates expected to rise through 2022, many community banks are reconsidering their ALCO strategies. What percentage of a community bank loan portfolio should be fixed-rate, and what fixed rate term is optimal for a loan portfolio?
Payments Dive
JUNE 7, 2022
A shareholder is pushing Square parent Block to give up super voting shares. The proposal will be voted on at Block’s annual meeting next week.
BankInovation
JUNE 6, 2022
Citigroup Inc. plans to hire more than 4,000 tech staff to help move its institutional clients online in the wake of the pandemic. More than 1,000 of the recruits will join the markets technology team as part of an aggressive growth strategy, Jonathan Lofthouse, head of markets and enterprise risk technology, said in an interview. […].
TheGuardian
JUNE 10, 2022
As more banks go numberless to help stop fraud, we look at what it means for security and ease of use First there was the contactless revolution; now credit and debit cards are going numberless. Increasingly, banks are relegating information such as the 16-digit long number and the expiry date to the back of the card, while a few are going the whole hog and not printing them anywhere.
Advertiser: Data Robot
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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