Sat.Nov 18, 2023 - Fri.Nov 24, 2023

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Haunted by Fraudsters: Post-Halloween Edition

Jack Henry

Captain Obvious here: we’re well into fall now with Thanksgiving right around the corner! The season that starts with pumpkin spice lattes and apple picking moves (too) quickly through Halloween and finishes with a huge helping of stuffing and apple pie. Some of us never grow out of the fun of celebrating the “spooky season”.

Apple 88
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AI copilots: How are banks using them, and do you need one?

American Banker

Microsoft, Google, Salesforce, ServiceNow, Blend, Q2 and Intuit are among the software companies that offer copilots. Here's why banks are taking notice.

Google 86
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Business Banking Systems: Should You Have More Than One?

Jack Henry

Discover why a unified platform suits retail banking, yet diverse businesses need custom-tailored digital tools for seamless financial management.

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CBA counters CFPB information about CARD Act Report

CFPB Monitor

The Consumer Bankers Association has launched a four-part blog series “Facts Matter” to counter what it calls “misinformation conveyed by the CFPB” in its press release about the CFPB’s October 2023 report (Report) under the Credit Card Accountability Responsibility and Disclosure Act (CARD Act). The CARD Act requires the CFPB to issue a biennial report to Congress on the consumer credit card market.

Cards 88
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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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How a New Report from Silicon Valley Bank Assesses the Future of Fintech

The Financial Brand

This article How a New Report from Silicon Valley Bank Assesses the Future of Fintech appeared first on The Financial Brand. They're back: Silicon Valley Bank issues its first fintech outlook since its historic collapse – and works hard to see the bright side. This article How a New Report from Silicon Valley Bank Assesses the Future of Fintech appeared first on The Financial Brand.

Fintech 27

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5 takeaways from Michael Barr’s remarks at The Clearing House conference

Payments Dive

The Fed's vice chair for supervision expressed optimism about FedNow’s benefits and said he expects it to co-exist with the privately owned RTP network.

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For this Best Bank to Work For, it's all about shared responsibility

American Banker

West Plains Bank and Trust in Missouri, No. 11 on this year's Best Banks to Work For ranking, wins high marks for constructive training, employee development, team culture — as well as excellent benefits.

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Mind over Money: The Silent Connection to Finances

BankBazaar

International Men’s Day is a time to celebrate the positive contributions of men to society and focus on men’s well-being and, importantly, their financial well-being. As November 19 th comes closer, it’s an opportune moment to explore the intricate relationship between men’s mental health and financial decision-making. From the pursuit of financial stability to the exploration of investment avenues, from understanding the nuances of debt management to planning for retiremen

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Student Loan Repayment Challenges

Perficient

In March 2020, the student loan forgiveness program was initiated, providing relief to many borrowers. However, in October 2023, loan payments resumed, presenting new financial challenges. While the temporary pause was beneficial, it left numerous individuals still grappling with the task of managing their additional financial obligations. Borrowers now confront the daunting prospect of resuming loan payments alongside recurring bills and debts.

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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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Credit card demand remains robust, rejections rise: New York Fed

Payments Dive

As consumers have leaned on credit cards more in recent months, applications for credit card limit extensions also rose, the New York Fed said Monday.

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How cash-in-transit ensures a resilient cash cycle

ATM Marketplace

In times of crisis and uncertainty, cash plays an important stabilizing role. A resilient cash cycle that ensures a reliable supply is therefore essential. Cash-in-transit companies can make a decisive contribution to this.

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Are You Making Enough Money? Secret Formula for Financial Success Unveiled!

BankBazaar

If your job satisfaction were a pizza, would it be a delicious p epperoni or a sad, limp slice left on the counter overnight? Your career should be more satisfying than waiting for a pizza delivery on a Friday night, agree? Money – the ultimate puzzle that keeps us up at night. We’ve all wondered whether we are making enough or just collecting colourful paper for a high-stakes Monopoly game.

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Brian Bell Navigates the Evolving Insurance Space to Provide Maximum Client Value Across Industries

Perficient

With nearly three decades of experience directing commercial lending, corporate finance, and insurance for leading brands, Perficient’s Insurance Principal, Brian Bell, stands at the forefront of our financial services practice. In the increasingly competitive insurance landscape, organizations must strategically leverage digital transformation, and Brian excels at navigating this evolution to deliver maximum client value across all industries.

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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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Stripe, Alaska Airlines to offer in-flight contactless payments

Payments Dive

Payments company Stripe said it’s the first time that an airline will use Apple’s contactless payments feature across an entire fleet.

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Eurozone banks starting to show ‘stress’ as loan defaults rise, ECB warns

TheGuardian

Rising interest rates have boosted profitability but are likely to limit demand and increase risk of bad debts, says central bank The balance sheets of eurozone banks are showing “early signs of stress” after a rise in loan defaults and late payments by customers, the European Central Bank has warned. Higher interest rates have boosted banks’ income and profits for the time being, the ECB said, but lenders are facing pressures from higher funding costs, worsening asset quality and lower lending

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This week’s podcast episode: Consumer finance impact of a CFPB run amok

CFPB Monitor

Switching from his usual role as frequent host of the Consumer Finance Monitor Podcast, Alan Kaplinsky, Senior Counsel in and former Practice Group Leader of Ballard Spahr’s Consumer Financial Services Group, was recently the special guest of Bloomberg Intelligence analysts Elliott Stein and Nathan Dean on their podcast, Votes and Verdicts. .

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Why lower house prices could lead to higher mortgage rates

BankUnderground

Fergus Cumming and Danny Walker Bank Rate has risen by more than 5 percentage points in the UK over the past couple of years. This has led to much higher mortgage rates for many people. In this post we analyse another potential source of pressure on mortgagors: the potential for falls in house prices to push borrowers into higher – and therefore more expensive – loan to value (LTV) bands.

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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.

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Visa proposes new plan for covering litigation liability

Payments Dive

The card network’s board approved pursuing a shareholder vote on a new approach to covering potentially more than $35 billion in outstanding merchant claims against the company.

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We smashed the windows of a major bank. A jury acquitted us. This is why | Gully Bujak

TheGuardian

I think people everywhere, even on juries, have had enough of our leaders’ failure to tackle the climate crisis In 2021, I was arrested with eight other women for breaking the windows at HSBC’s headquarters in London. On Thursday, after just two hours of deliberation, a jury of our peers found all nine of us not guilty of nearly half a million pounds in criminal damage.

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FCC and FTC Announce new AI Calling and Voice Initiatives

CFPB Monitor

On November 16 th , the Federal Communications Commission (“FCC”) and Federal Trade Commission (“FTC”) announced new independent initiatives regarding the use and implications of AI technologies on consumers in the context of telephone and voice communications. These initiatives align with the recent Executive Order on Artificial Intelligence and show federal regulators’ expanding focus on existing and anticipated AI issues.

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Cashless Chronicles: How Credit Cards Simplified Our Lives!

BankBazaar

‘ Life is simple, but we insist on making it complicated ’ , said Confucius. W e won’t change our ways; hence the onus is now on Credit Cards to make our lives simpler. Somebody said, ‘Make my life easy’, and Credit Cards appeared out of nowhere. Though that’s not how they came into existence, we’re certain that Credit Cards do indeed make our lives easy.

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Top 10 Benefits of Automating Loan Modifications for Commercial Lenders

Get ready for the wave of $1.2 trillion in commercial debt maturing in the next 24 months with GoDocs' ModDocs® platform. Traditional loan modifications are slow, expensive, and prone to errors, which put lenders at risk. But with ModDocs®, you can enjoy an innovative solution that eliminates attorney fees, allows on-the-fly loan modifications, and ensures compliance.

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Digital payments have increased restaurant tips. But is it backfiring?

Payments Dive

Some diners feel pressured by tipping digitally in front of employees, which can hurt restaurant traffic, but experts say there are best practices that can ease customer trepidation.

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More than 2,500 jobs at risk in Lloyds shake-up

TheGuardian

Exclusive: UK’s largest high-street bank preparing review of middle-management roles in response to expected income squeeze More than 2,500 jobs are at risk at Lloyds Banking Group, which is poised to become the latest financial institution to announce cost cuts, the Guardian can reveal. Britain’s largest high street lender is understood to be considering axing a series of middle-management roles including analyst and product management posts as part of a consultation that is expected to be shar

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CFPB issues annual FDCPA report; FTC issues annual letter on debt collection to CFPB

CFPB Monitor

The CFPB has issued its annual Fair Debt Collection Practices Act report covering the CFPB’s debt collection activities in 2022. The report incorporates information from the FTC’s most recent annual letter to the CFPB describing its 2022 activities in the debt collection market. CFPB Report. The CFPB report includes a “spotlight” section on the collection of medical bills. .

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The Psychology Of Spending: How Fibonacci Can Help Keep Your Budget On Track 

BankBazaar

As we celebrate World Fibonacci Day, a day that pays homage to the famous mathematical sequence, it’s the perfect time to explore an unconventional but profoundly insightful connection between the Fibonacci sequence and personal finance. Budgeting, a cornerstone of financial stability, often eludes the grasp of many due to its emotional complexity.

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Finding “The One:” The Ultimate Guide to Selecting Financial Software

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

As finance and accounting practitioners, you are expected to complete daily operations as well as to manage next generation tools and resources to support a business that is growing in complexity. Having the right software can be critical in juggling and meeting those high expectations. The path to the right software, however, is paved with challenging decisions.