Sat.Feb 10, 2024 - Fri.Feb 16, 2024

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Game Theory Can Teach Bankers How to Be Smarter Negotiators

Gonzobanker

“The most powerful weapon in chess is to have the next move.” -David Bronstein, chess world finalist Facing off with a vendor to negotiate a multi-year contract is much like a game of chess. Move after move, decisions are made based on information available at the time. Contract negotiations typically have two players, each applying their strategy to obtain desired terms, conditions and pricing.

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Stretching the limits on core capability

ABA Community Banking

There’s a wide range of flexibility among the core providers and the platforms they offer. Here's how to understand options. The post Stretching the limits on core capability appeared first on ABA Banking Journal.

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What should banks do next to improve online banking?

American Banker

Financial institutions need to reconsider the logic and intuitiveness of their website design. They could also introduce free credit scores and capitalize on generative AI, experts say.

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The Outlook for Bank and Fintech M&A in 2024

The Financial Brand

This article The Outlook for Bank and Fintech M&A in 2024 appeared first on The Financial Brand. Banks and fintechs' interest in M&A is waning. Many of the same conditions that drove M&A last year are still in play in 2024. This article The Outlook for Bank and Fintech M&A in 2024 appeared first on The Financial Brand.

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Digital Transformation: Accelerating ROI and Growth in Commercial Lending

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

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2024 will be a transformative year for cryptocurrencies

American Banker

With dominant industry personalities suddenly swept offstage, the evolving rules and regulations that will dictate the industry's future will be in the spotlight.

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Fintech Funding: Overflow raises $20M in series B 

BankInovation

Investors expect funding activity to rebound in 2024 following a year of uncertain macroeconomic conditions. In 2023, global fintech equity deals amounted to $39.2 billion, compared to $78.6 billion in 2022, recording a 50% year-over-year drop, according to a Jan. 18 State of Fintech report by CB Insights, a data intelligence company.

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4 Banking CMOs to Watch in 2024

The Financial Brand

This article 4 Banking CMOs to Watch in 2024 appeared first on The Financial Brand. Top CMOs are using technology to create novel marketing strategies and uncover new revenue streams. The efforts are leading to an increase in customers and are producing measurable results. This article 4 Banking CMOs to Watch in 2024 appeared first on The Financial Brand.

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Analyst Insights: Two Banks that Deliver to Shareholders

Jeff For Banks

Be curious. That's how I approach Twitter ("X"). Yes, there are some dumpster fire opinions. But then again, there are some real valuable insights that I and we can learn from. And this most recent string by bank analyst Perry Weinstein is one of them that I thought should not be lost to a tweet stream. Perry's perspective is clearly focused on shareholder value and may be viewed as shareholder primacy, a sometimes derogatory term because pursuing shareholder value could be done at the expense o

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15 credit unions that have acquired banks since 2023

American Banker

In the largest deal based on the bank's assets announced since January 1, 2023, the credit union has nearly $12 billion in total assets and the target bank more than $1.5 billion in total assets.

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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

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Card networks to implement gun code in California: report

Payments Dive

Visa, Mastercard and American Express are moving forward with use of a new gun merchant category code for credit card purchases in California, according to CBS News.

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NYSDFS Part 500 Cyber Amendments Finalized: What You Need to Know

Perficient

This blog was co-authored by Perficient Risk and Regulatory CoE Member: Alicia Lawrence The announcement of significant amendments to the New York State Department of Financial Services (NYSDFS) regulations on December 1, 2023, represents a pivotal moment for entities operating within New York’s financial sector. The NYSDFS Part 500 amendments signal a crucial shift in the financial services regulatory landscape and underscore the importance of robust governance, risk management, and compl

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Credit administration department housekeeping: Practical steps for improvement

Abrigo

Preparing your credit administration for the next cycle Financial institutions should consider these tips for maintaining an efficient credit process throughout the year. You might also like these on-demand webinars tackling common credit risk questions. WATCH Takeaway 1 Credit administration housekeeping should clean up processes that could be streamlined to save time and effort.

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ABA issues white paper on agency guidance and sends letters to regulators commenting on recently-issued guidance

CFPB Monitor

The American Bankers Association (ABA) has issued a new white paper , “Effective Agency Guidance: Examining Bank Regulators’ Guidance Practices,” that is intended to help agencies issue guidance that complies with legal requirements while providing useful advice and information to regulated entities. The ABA also sent letters to the FDIC and CFPB in which the white paper serves as the foundation for comments on recently-issued guidance that the ABA believes would benefit from public input.

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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

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.

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Yellen asks Congress for stablecoin legislation

Payments Dive

Treasury Secretary Janet Yellen renewed a call for Congress to act on digital assets, saying “there is no appropriate regulatory framework.

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DFS500 Amendments: What You Need to Know

Perficient

This blog was co-authored by Perficient Risk and Regulatory CoE Member: Alicia Lawrence Perficient’s Risk and Regulatory Center of Excellence (CoE) remains at the forefront of evolving financial rules and regulations, ensuring readiness to tackle emerging challenges and safeguard financial institutions and its customers. The announcement of significant amendments to the DFS500 regulations on December 1, 2023, represents a pivotal moment for entities operating within New York’s financial se

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CRE risk management: Identify and manage concentration risk

Abrigo

Find commercial real estate risks in the loan portfolio Sound risk management practices in commercial real estate lending help lenders manage CRE credit losses and protect the portfolio's profitability. You might also like this podcast, "How to sleep easier at night about your capital and risk levels." LISTEN Takeaway 1 Effective CRE risk management involves adapting to changing market fundamentals to avoid excessive loan losses.

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What Bank of America is doing for customers after data breach

BankInovation

Bank of America is working to control the fallout following an October data breach at third-party vendor Infosys McCamish Solutions. The bank is offering the more than 57,000 affected clients a free, two-year membership to IdentityWorks, an identity protection product from Experian, according to an Infosys McCamish Solutions filing with the state of Maine.

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2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

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.

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Toast to cut 550 employees

Payments Dive

The company’s CEO acknowledged during an earnings call that “we grew our team too quickly in some areas,” while reporting a presence in 106,000 locations as of the end of 2023.

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FFIEC Issues Examination Principles Statement Regarding Valuation Bias

CFPB Monitor

The Federal Financial Institutions Examination Council (FFIEC) recently issued a statement of principles related to valuation discrimination and bias for member entities to consider in their consumer compliance and safety and soundness examinations. The member entities of the FFIEC are the Comptroller of the Currency, Consumer Financial Protection Bureau, Federal Deposit Insurance Corporation, Federal Reserve Board, National Credit Union Administration and the FFIEC State Liaison Committee.

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6 Steps to build an AML staffing plan for unexpected changes

Abrigo

Planning for the unexpected is part of any good plan. Prepare for unexpected changes in your AML staffing plan, making your plans a little more "disaster" proof. You might also like this on-demand webinar, "AML/CFT hot topics for 2024: What to expect for financial crime." WATCH NOW Takeaway 1 Reduce stress and mitigate financial and compliance impacts Takeaway 2 AML employee succession plans should be “living” documents.

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The AI Advantage: 3 Benefits for Factoring Companies

Jack Henry

When the internet was first introduced, it was only natural that people were skeptical. It’s human nature to fear the unknown.

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Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance

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.

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Senator calls card CEOs on congressional carpet

Payments Dive

Sen. Dick Durbin, sponsor of a card network competition bill, urged the CEOs of Visa and Mastercard to appear at an April congressional hearing and not send their underlings.

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Fintech trade group sends letter to Director Chopra urging CFPB to develop regulatory approach for earned wage access products

CFPB Monitor

The American Fintech Council (AFC), a trade group whose members include providers of earned wage access (EWA) products, has sent a letter to Director Chopra urging the CFPB to take steps towards development of a “pragmatic regulatory approach” for regulating EWA products. In its letter, AFC discusses the “patchwork approach” to regulating EWA products that is emerging at the state level. .

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Musicians walk out after London orchestra leaves them unpaid for months

TheGuardian

Emergency backup is called to enable London Chamber Orchestra event at Cadogan Hall to go ahead after protest over payment delays When the conductor Christopher Warren-Green picked up his baton to begin a concert in London’s Cadogan Hall last Wednesday, it was not clear what would happen. The earlier rehearsal with the London Chamber Orchestra (LCO) had not gone well.

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Is cash here to stay?

ATM Marketplace

Will cash go away? That is the question that is top of mind for the ATM industry. Two debaters tackled this issue head on.

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Addressing Top Enterprise Challenges in Generative AI with DataRobot

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.