Sat.Jun 29, 2024 - Fri.Jul 05, 2024

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Navigating the storm: Strategic focus areas for retail banks in uncertain times

Accenture

In part one of my blog, I explored how current macroeconomic events are akin to a solar storm and the Northern Lights are the manifestation of the banking industry’s reaction to uncertainty. In part two, I will discuss key areas banks should focus on to avoid becoming paralyzed by the challenges they face. Over the… The post Navigating the storm: Strategic focus areas for retail banks in uncertain times appeared first on Accenture Banking Blog.

Retail 345
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Payments industry to use AI to detect fraud, improve efficiency

Payments Dive

Research from the investment bank Jefferies suggests generative artificial intelligence could be used in the payments industry to improve fraud detection and make transactions happen faster.

Fraud 447
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Activity-based regulation would mean a more competitive financial system

American Banker

With the line between banks and fintechs growing ever blurrier, financial services supervisors ought to consider adjusting regulation to fit the kinds of activity an institution is engaged in.

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S&P’s gen AI tool provides up to 60% efficiency gains

BankInovation

Data insights company S&P Global is developing internal- and external-facing generative AI tools to boost efficiencies — and it hopes to monetize the technology by offering it to customers.

Tools 119
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How to Avoid Getting "Ghosted": Top 3 Secrets to Staying Relevant with Gen Z

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.

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London investment bankers to rake in bigger bonuses after two-year slump

TheGuardian

Exclusive: Rise in dealmaking likely to be reflected in spring bonus season as interest rate hike cycle ends London’s investment bankers are expected to rake in bigger bonuses this financial year, as the City begins to recover from a two-year slump in deals caused by surging interest rates. Demand for investment banking services – such as facilitating mergers and acquisitions, advising companies and governments on fundraising, and underwriting new stock and bonds – was hit by a sharp increase in

Company 111

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Perficient Recognized as a Major Player in IDC MarketScape for Cloud Professional Services

Perficient

Navigating the complexities of cloud technology requires an exceptional partner. We are thrilled to announce that Perficient has been named a Major Player in the IDC MarketScape: Worldwide Cloud Professional Services 2024 Vendor Assessment (Doc #US51406224, June 2024). What Does This Inclusion Mean for Perficient? “We’re honored to be recognized as a Major Player in this IDC MarketScape Report, a distinction we believe highlights our holistic approach to cloud strategy and our implementation exp

Strategy 251
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Are your ATMs ready for PCI DSS 4.0 changes?

ATM Marketplace

The payment industry has evolved significantly in the past 20 years and so has PCI. The aftermath of PCI DSS 4.0 is still being felt. Here are a few changes to make to ensure your ATM fleet stays up-to-date.

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ConnectOne Bank builds data lake in-house

BankInovation

ConnectOne Bank built its own data lake and data warehouse in-house to allow for access to insights for all departments. One of the first assignments for the $9.8 billion Englewood Cliffs, N.J.

Data 123
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NCR Voyix terminates staff across several units

Payments Dive

The tech company, whose tools are used by numerous stores, cut employees in its sales, engineering, professional services, data and product management teams last week.

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Navigating the Automation Landscape: Selecting Tools That Fit Your Business

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.

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Guest Post: 2Q Financial Markets and Economics Update - Second Quarter 2024

Jeff For Banks

Financial Markets Update – Second Quarter 2024 A dream vacation! I went with family and friends to Holland and Belgium during peak tulip season during April. It was so beautiful and lots of fun. We saw so many fabulous places, including Amsterdam, Kinderdijk and its windmills, Keukenhof Gardens, Brussels, Bruges, and Antwerp. We learned how Holland keeps the floodwaters away.

Marketing 154
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Sajid Javid to become partner at investment firm Centricus

TheGuardian

Former chancellor cleared for role by body examining propriety of ministers taking jobs in private sector Sajid Javid, the former Conservative chancellor of the exchequer, is to become a partner at a London investment firm founded by a trio of his former colleagues at Deutsche Bank. The former banker, who held seven ministerial positions in a 15-year political career, confirmed on Tuesday that he was joining Centricus, a private equity and asset manager based in Mayfair.

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UniCredit Bank’s Schulze to speak at Bank Automation Summit Europe 2024

BankInovation

Robert Schulze, head of pricing and risk model infrastructure at UniCredit Bank, will speak at Bank Automation Summit Europe 2024 about AI in financial services. The summit takes place Oct. 7-8 at Hilton Frankfurt in Frankfurt, Germany, bringing together industry experts to discuss banking automation, AI, regulation, payments and more.

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Visa-Mastercard settlement failed to treat merchants ‘equitably’

Payments Dive

A proposed Visa-Mastercard settlement failed partly because a judge overseeing the case determined large merchants wouldn’t benefit as much as smaller merchants.

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Case Study: First Mid Bank Fast-Tracks New Market Entry in Commercial Lending

Discover First Mid Bank's Expansion Success with Our Case Study! Discover how First Mid Bank & Trust fast-tracked market expansion through advanced automation and compliance solutions. This case study reveals their journey from facing challenges in Texas' complex legal landscape to achieving rapid market entry with GoDocs' innovative commercial closing platform.

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Data breaches, AI merits: Top tech news June 2024

American Banker

In this month's roundup of top tech news: U.S. Bank partnered with Greenlight to provide financial education resources, ransomware group LockBit released data belonging to Evolve Bank & Trust, banks consider the merits of open-source and closed-source generative AI and more.

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‘It’s very troubling’: thieves use vulnerable man to take out £28,000 bank loan

TheGuardian

Metro Bank faces questions over safeguards and why victim was allowed to borrow such a big sum The family of a deaf man who was groomed by a gang into taking out a £28,000 business loan has demanded to know how a vulnerable person, with virtually no assets, could be marched into a Metro Bank, and allowed to borrow such a huge sum. Peter James*, who has special educational needs, and who only communicates through British Sign Language, was being chased by the bank’s debt collectors, and facing po

Metro 91
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Fingerprints and Valid to launch biometric payment card in Brazil

The Paypers

Sweden-based biometrics company Fingerprint Cards (Fingerprints) has partnered with paytech Valid to develop a biometric payment card for the Brazilian market.

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Supreme Court lets complaint on debit fees proceed

Payments Dive

The Supreme Court ruled Monday that a case challenging a debit card interchange rate set by the Federal Reserve can proceed.

Cards 259
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Exploring the Liability Shift: A Comprehensive Guide to Fraud Loss Responsibility and Mitigation

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

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Fed emphasizes independence, transparency in monetary policy report

American Banker

The central bank also noted that the banking system is sound but faces several challenges. The report precedes Federal Reserve Chair Jerome Powell's upcoming appearances on Capitol Hill.

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How hard is it to live off cash alone in Australia? I tried for a weekend and this is what happened | Jordyn Beazley

TheGuardian

After tracking down an ATM and navigating public transport, I went to all my usual spots – and had some surprises When my editor asked me to go old-school and only use cash for a weekend to test whether it’s impossible or a breeze to live without digital payments, my response was: “I don’t even know where my debit card is.” As I rifled around in the pockets of various pants and bags in search of it, I found $115 shoved into a red Christmas envelope.

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Self service banking: 3 tools that improve the customer experience

ATM Marketplace

Here are three of the best self-service banking tools that can improve the bank experience.

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How buy now, pay later benefits merchants

Payments Dive

Research from online payments processor Stripe found that providing BNPL increases the average size and total number of sales.

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Thinking About How To Lessen Your Burden During Month-End Close? Skystem Can Help!

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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AI and career growth: What payments executives should know

American Banker

Experts from Tipalti, Tulane, Cigniti and Ingenico discuss what skills will be in demand, and the importance of not being intimidated by the speed of innovation.

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Transactions: Avidia Bank selects Q2, Personetics for digital banking services

BankInovation

Hudson, Mass.-based bank Avidia Bank has selected digital banking service provider Q2 to improve its digital banking capabilities. The $2.5 billion bank will also tap data-driven personalization fintech Personetics’ AI-driven engagement platform through Q2’s platform, Avidia Chief Marketing Officer at Avidia Bank, Janel Maysonet told Bank Automation News.

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FICO analysis of UK credit card trends in 2023-24

The Paypers

Analytics software company FICO has highlighted the impact of rising fuel costs, inflation, and wage pressures on credit card usage and debt management in 2023-2024.

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New York BNPL bill is dead, for now

Payments Dive

Hopes for passing a 2024 buy now, pay later bill in New York state to regulate the nascent industry expired with the end of the legislative session last month. But next year could be a different story.

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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