Moving big money is about to get faster
Payments Dive
MARCH 16, 2022
In the next few weeks, the two U.S. automated payments systems are set to increase the speed with which $1 million can be sent between two parties.
Payments Dive
MARCH 16, 2022
In the next few weeks, the two U.S. automated payments systems are set to increase the speed with which $1 million can be sent between two parties.
Digital Growth Institute
MARCH 17, 2022
“ The moment you say you’re a fast follower, what you’re really saying is you plan to be behind. ” -Joel Swanson. Fintechs are a risky that many financial brands won't take. They are comfortable staying in the Cave of Complacency where it familiar and safe. But many fintechs are actually looking to partner with community banks and other financial brands to create new opportunities and provide better experiences and services.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Accenture
MARCH 14, 2022
It’s important but not critical. That’s been the dominant narrative around sustainability. Until now, that is. There seems to be a definite shift to changing this narrative, a shift that could be worth trillions of dollars to the banking industry. In 2007, Google famously became the first major company to be carbon neutral. According to…. The post Shift to green could be worth trillions for banks appeared first on Accenture Banking Blog.
Perficient
MARCH 15, 2022
The Office of the Comptroller of the Currency (OCC) has released 11 Community Reinvestment Act (CRA) performance evaluations. These evaluations are based upon on-site examinations performed by OCC-trained staff that are conducted every other year, and they assess an institution’s performance in helping to meet the specific credit needs of the communities they serve.
Advertisement
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
Payments Dive
MARCH 16, 2022
Each generation has approached credit differently; Gen Z is no exception. As they turn toward credit cards, industry analysts say these consumers are likely to keep card companies on their toes.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Accenture
MARCH 16, 2022
There are times when you have to break something apart in order to make it better. For banks, it’s time to break down the traditional value chain and replace it with a more future-friendly set of business models. Until now, the value chain in banking has relied on a vertically integrated business model. But in…. The post Bold banks can grow by shattering the value chain appeared first on Accenture Banking Blog.
Abrigo
MARCH 14, 2022
Loan administration is a critical element for the safety and soundness of an institution. While the sophistication of loan administration software will depend on the size of the institution and the complexity of its portfolio, some functions should be integrated: 1. Accessibility of data for loan officers, managers and potentially external loan review personnel.
Payments Dive
MARCH 14, 2022
In a rare TV appearance, the director of the Consumer Financial Protection Bureau said that the payments industry isn't competitive enough and that fee hikes by the big card companies would add "insult to injury" at a time of inflation. He noted new fintech tools could ultimately be a benefit if they add competition.
South State Correspondent
MARCH 16, 2022
If banking had an Olympics, creating loan value would be an event. The recent Fed meeting, with its hawkish tone, makes the sport of loan value creation even more important. While many lenders are good at gathering new business, they may lack the experience to create optimal mutual value. To make it into the podium, bankers must not only understand how to work with structural components but how to position them for the most efficient application of the creation of value.
Advertisement
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
Accenture
MARCH 14, 2022
Credit card receivables & purchase volume YoY growth: 4Q21 Earnings call commentary Growth “Consumer activity remains strong with credit sales up in the Q4 YoY. Our beauty and jewelry verticals remain the frontliners with holiday sales up more than 30% in each category. We saw particular improvement among millennials and Gen Z with spending and transaction activity during the….
Abrigo
MARCH 15, 2022
Offering Digital Consumer and Commercial Accounts Benefits Financial Institutions Banks and credit unions that enable online/digital account opening win new customers and members and retain existing ones. . Would you like other articles like this in your inbox? Takeaway 1 Many financial institutions are adding or improving online or digital account opening capabilities. .
Payments Dive
MARCH 16, 2022
A new survey from one equity analyst suggests installment financing from the buy now-pay later company Affirm has appeal for rich and poor alike. "The demand for our service is going up because consumers are trying to ration their money,” Affirm CEO Max Levchin told CNBC.
South State Correspondent
MARCH 16, 2022
Countdown to Rate Liftoff Begins. The March FOMC meeting concludes this afternoon with a 25bps rate hike a foregone conclusion. As we mentioned on Monday, the real focus for investors will be in the forecast for further rate hikes this year, and the updated economic forecast with inflation and GDP key items of interest in the wake of the war in Ukraine.
Advertisement
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.
SWBC's LenderHub
MARCH 17, 2022
At Wednesday’s Post-FOMC press conference, Chairman Jerome Powell made the following statement: “As I looked around the table at today’s meeting, I saw a committee that’s acutely aware of the need to return the economy to price stability and determined to use our tools to do exactly that. The American economy is very strong and well-positioned to handle tighter monetary policy.”.
BankBazaar
MARCH 18, 2022
It is now time to forge a new path forward with your finances. Although budgeting may not have worked for you earlier, colour-coding your budget is your new budgeting lifesaver! . Let’s start! Let’s work on creating your monthly budget. Whoa, wait! Did you just roll your eyes, or did you snort with derision? We get it. For many, trying different budget management methods has either not worked or they just despise the many restrictions that come along with it. .
Payments Dive
MARCH 18, 2022
The industry might not be experiencing a major uptick in cyberattacks as a result of Russia's war on Ukraine, but that doesn't mean it shouldn't be on high alert, cybersecurity professionals say.
South State Correspondent
MARCH 14, 2022
Investors Await Wednesday’s FOMC Meeting. The FOMC meeting that concludes on Wednesday afternoon has the market’s attention, even though a 25bps rate hike is a foregone conclusion. The real focus for investors will be in the forecast for further rate hikes this year, and the updated economic forecast with inflation and GDP key items of interest in the wake of the war in Ukraine.
Advertisement
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.
SWBC's LenderHub
MARCH 14, 2022
Last Week. Last week was marked, once again, by extreme volatility. The violence of Russia’s war in Ukraine intensified while sanctions against Russia and its major industries continued to ramp up.
ATM Marketplace
MARCH 15, 2022
Last time we looked at some critical ATM security issues such as software vulnerabilities, jackpotting, physical key issues and more. But how does one address such issues?
Payments Dive
MARCH 15, 2022
As payments technology evolves, the use of biometrics is poised to take off. Software firm PopID is seeking to raise about $50 million in capital to scale its face verification services for payments applications in the U.S. and abroad.
Cisco
MARCH 15, 2022
Leaders and organizations embarking on any digital initiative need to ensure that experience monitoring is a cornerstone of their strategy. A leading Financial Services company headquartered in Asia found this to be true. With about 30,000 staff and operations spread across several countries in multiple continents, moving to remote work posed new and unexpected network and infrastructure visibility issues for them.
Advertisement
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.
ABA Community Banking
MARCH 17, 2022
At a community bank with limited staff and resources, tech transformation is all about setting priorities. The post Podcast: Step-by-Step IT Transformation at a Community Bank appeared first on ABA Banking Journal.
ATM Marketplace
MARCH 18, 2022
Over the past few years, there has been a lot of confusion about EMV — what is it, why do you need it, and what will happen if your card readers don't accept EMV transactions. So, what is EMV and why is it essential as we look towards the future of payments?
Payments Dive
MARCH 17, 2022
The share of consumers planning to use mobile phones to pay their taxes increased over last year, while the portion preferring to pay by check declined, according to a survey from payments firm ACI Worldwide.
BankBazaar
MARCH 17, 2022
Put the money you earn to work for you. Invest smartly with discipline and say hello to an easier retirement. In a world of hyper-targeted marketing, it is really tough not to spend money on things that you don’t need. Although we earn so that we can give shape to our aspirations and wants, there are a few important things that need to be kept in mind when it comes to money.
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.
Let's personalize your content