Gonzobanker
APRIL 11, 2023
Ticking these best practice boxes will help keep the monsters at bay on conversion day. It’s one of a banker’s worst nightmares: the digital banking conversion that was designed to improve the customer experience fails – locking users out of their accounts, not showing balances, making wire transfer features inaccessible… It recently happened to a $25 billion bank in the Midwest.
BankBazaar
APRIL 13, 2023
B ig wad of cash or a sl eek Credit Card ? Let’s help you figure out the pros and cons of both when travelling abroad , along with a few pro tips on using Credit Card s overseas. Business or leisure? You do not have to state the purpose of your visit to us, but we know for sure that you are going to spend when in a foreign country. Handling finances could be as daunting as figuring out the many nuances of a new country.
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ATM Marketplace
APRIL 11, 2023
As the technical capabilities of ATMs have increased, so has the sophistication of physical and digital attacks looking to access the cash and consumer data that ATMs store. To protect ATMs, businesses must fully understand the current global and regional-specific threats to both physical and digital bank property.
Payments Dive
APRIL 12, 2023
Payment processors and their merchant clients are bracing for Visa’s surcharge cap next week. “Don’t fight Visa right now – you’re not going to win,” advises one consultant.
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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
Abrigo
APRIL 12, 2023
Building a strong credit review process A critical element of monitoring is an organization’s credit risk rating system. This blog will examine credit review in more detail. You might also like this whitepaper: "2022 Loan Review Benchmark Survey Results." DOWNLOAD Takeaway 1 Loan review, or credit review, must be timely, thorough, and accurate to meet regulatory requirements.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Perficient
APRIL 11, 2023
In our first blog in this series, Getting Started With Client Remediation (Part 1 of 3) , we discussed how to get a client remediation program started, what levels of an organization should be involved in the client remediation program, and how ultimately positive outcomes, such as lower risks, improved technology, and risk monitoring, may result from a successful client remediation program.
Payments Dive
APRIL 11, 2023
The gaming payments service provider, previously part of processor Global Payments, aims to increase business by investing in technology and more staff.
South State Correspondent
APRIL 10, 2023
Fair value accounting measures assets and liabilities at current market value instead of historical or amortized value. Most agree that attempt to fair value certain financial instruments would still not approximate the settlement of that instrument between a motivated buyer and seller – for example, there are many unpredictable or unknown factors to be able to value instruments like loans and deposits.
Accenture
APRIL 12, 2023
There is no excerpt because this is a protected post. The post Protected: Becoming the UK’s best digital bank through customer centricity appeared first on Accenture Banking Blog.
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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
CFPB Monitor
APRIL 11, 2023
On April 11, 2023, the Consumer Financial Protection Bureau Director Rohit Chopra spoke with the Washington Post regarding the banking industry after the failure of Silicon Valley Bank. Director Chopra, who is also a board member of the Federal Deposit Insurance Corporation, focused his messaging on the need to better educate consumers regarding when their deposits are and are not insured by the FDIC.
Payments Dive
APRIL 13, 2023
San Francisco police arrested an IT worker in the murder of Bob Lee, who was knifed to death in the early morning hours of April 4. Police declined to discuss a motive at a Thursday press conference.
ATM Marketplace
APRIL 14, 2023
With crime rising nationwide, ATM operators need to be vigilant to protect their assets. At the same time, new Payment Card Industry standards require operators to update their payment equipment to prevent fraudulent transactions. These are just some of the issues confronting today's ATM industry.
ABA Community Banking
APRIL 13, 2023
How can community bank emerging leaders take initiative in innovation? Tim Shangle advises bankers to take small steps and explore what new technologies can do. The post Podcast: The just-do-it mindset in community bank innovation appeared first on ABA Banking Journal.
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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.
BankBazaar
APRIL 13, 2023
Did we successfully put the ‘Baloo song’ in to your head? Good …n ow you’ll be singing it all day long. So n ow that that’s done, we have an interesting r ead ahead. It’s going to make you catch those lessons you probably missed growing up. Presenting , ‘ T he Jungle Book – The F inance S equel! ’ We all know who Mowgli is, don’t we? The Jungle Book hits home for children and adults everywhere, giving us that familiar feeling that is so easy to go back to!
Payments Dive
APRIL 13, 2023
Using the new merchant category code for gun and ammunition sales “could help identify dangerous patterns,” one advocacy group lawyer argues.
CFPB Monitor
APRIL 13, 2023
Professor Willis advocates the adoption of a performance-based approach to regulation to replace or supplement the current approach of disclosure and design regulation. We first discuss how benchmarks would be used in a performance-based approach and discuss the shortcomings of the current disclosure and design approach as well as behavioral economics in designing regulations. .
SWBC's LenderHub
APRIL 13, 2023
Financial institutions and their borrowers are up against challenging times. Many households are facing financial difficulties in the face of high inflation, while financial institutions are struggling to maintain profitability due to economic uncertainty and rising interest rates. As a result, many are focusing their 2023 efforts on reducing costs to maintain returns and supporting their borrowers during these difficult times.
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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.
BankBazaar
APRIL 11, 2023
National, March 30, 2023: BankBazaar.com , India’s leading fintech co-branded Credit Card platform and online provider of free Credit Scores, closed FY23 with net revenue of ₹160 crore. The company grew its net revenue for FY23 by 60% over FY22 on the back of a 60% growth in its Credit Card issuances. The growth is driven by its completely paperless and contactless offering of digital-first, co-brand Credit Cards in partnership with leading banks that enable consumers to track and improve their
Payments Dive
APRIL 11, 2023
Visa will help connect PayPal and its Venmo unit via a new P2P tool that will also draw in other payments players, including DailyPay and Western Union.
CFPB Monitor
APRIL 12, 2023
The CFPB has issued its “ Consumer Response Annual Report ,” which analyzes patterns and trends in the approximately 1,287,000 consumer complaints submitted to the Bureau in 2022. The annual report is required by the Consumer Financial Protection Act. The CFPB indicated that the largest increase in complaints, accounting for more than 75% of all consumer complaints, was related to dissatisfaction with credit reporting, including inaccurate information on credit reports and improper use of rep
BankUnderground
APRIL 13, 2023
John Hillier, Tom Perkins, Ryan Li, Hannah Bloomfield, Josie Lau, Stefan Claus, Paul Harrington, Shane Latchman and David Humphry In 2022 a sequence of storms (Dudley, Eunice and Franklin) inflicted a variety of hazards on the UK and across Northwest Europe, resulting in £2.5–4.2 billion in insured losses. They dramatically illustrate the potential risk of a ‘perfect storm’ involving correlated hazards that co-occur and combine to exacerbate the total impact.
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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.
William Mills
APRIL 11, 2023
By now you’re almost certainly familiar with the concept of generative AI and more specifically, OpenAI’s ChatGPT – what it is, what it isn’t, what it can (and can’t) do….yet. From its formal introduction late last year to now the release of the next generation, ChatGPT 4, generative AI and its potential impact on our society has consumed the attention of the media, the investment community, the business community, our political leaders, you name it.
Payments Dive
APRIL 10, 2023
Capital One failed to meet standards outlined in the contract, such as issuing replacement cards and promptly processing payments and posting transactions, Walmart alleged.
CFPB Monitor
APRIL 12, 2023
On April 5, 2023, the Consumer Financial Protection Bureau (CFPB) brought an action against James R. Carnes and Melissa C. Carnes, both individually and as co-trustees of the James R. Carnes Revocable Trust and the Melissa C. Carnes Revocable Trust, for allegedly hiding money through a series of fraudulent transfers in order to avoid paying more than $40 million in restitution and penalties for illegal payday lending activities. .
TheGuardian
APRIL 9, 2023
Prosecutors say the woman was later stopped in a car with cash scattered on its floor and was ‘very stern’ with police A 78-year-old woman with two past bank robbery convictions faces new charges after allegedly carrying out a heist in Missouri during which she handed a teller a note that said “I didn’t mean to scare you”. Bonnie Gooch has been jailed on a $25,000 bond after she was charged with one count of stealing or attempting to steal from a financial institution in the holdup last Wednesda
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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