Sat.Jul 02, 2022 - Fri.Jul 08, 2022

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Three ways for banks to re-imagine service—and grow sales

Accenture

Many organizations still view customer service as a cost of doing business. As a result, they focus mostly on improving the speed and efficiency of customer care. But about one in five are taking a different approach to customer service: They view it not as a cost center but as a value creator. We have…. The post Three ways for banks to re-imagine service—and grow sales appeared first on Accenture Banking Blog.

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How To Command Bank Premium Pricing

The Emmerich Group

And hear your customers say, “I Don’t Want To Work With Any Bank But You.” If you don’t care about bank premium pricing, you can stop listening right now. This is for bank executives who want to figure out how to command premium pricing despite the too-common assumption that banking is a commodity. Therefore, they. Continue Reading. The post How To Command Bank Premium Pricing appeared first on Roxanne Emmerich.

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How Can Banks Thrive in the Next Five Years?

Jeff For Banks

I was invited to speak at a bank client's annual meeting of shareholders on what I think a bank needs to do to thrive. Although I speak extemporaneously, I thought it best if I wrote my remarks beforehand and use it as a guide. Below is what I wrote and largely what I delivered, edited for easier reading. My Remarks to Bank Client's Annual Meeting of Shareholders "I want to thank [Chairman] and the Board, [CEO] and the management team for asking me to come out and remark on where I think the ban

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Payactiv jettisons some fees in wake of CFPB move

Payments Dive

The earned wage access provider said that it was eliminating some fees just as the federal agency decided to remove a prior order giving the company leeway under certain laws.

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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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How banks can enter the metaverse with purpose

Accenture

Our first metaverse post attracted a lot of attention and prompted the Ultimate Guide to Banking in the Metaverse. These posts discussed the first step in moving to the metaverse: educating your teams and stakeholders. Now, with more banks looking to understand how they can drive growth and value by entering this new frontier, we…. The post How banks can enter the metaverse with purpose appeared first on Accenture Banking Blog.

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Bank CIOs Must Break Through The Tactical Barrier

Gonzobanker

A strategic mindset and an updated slate of skills will best position CIOs as successful technology leaders. In today’s talent market, there are plenty of job postings and headhunters seeking “experienced CIOs.” While experience is a critical ingredient for the top technology role, it’s important to recognize that decades of experience translate to a leader who grew up in the “tactical” era of technology.

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Plastiq sees inflation boosting B2B card payment use

Payments Dive

As companies grapple with inflation and supply chain snarls, the business payments firm says it’s targeting those that need credit cards for workflow capital.

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Trade groups take aim at CFPB’s expansion of UDAAP authority

CFPB Monitor

Four leading trade groups are calling on the CFPB to rescind the recent updates to the UDAAP section of its Supervision and Examination Manual that instruct examiners to consider discrimination in connection with non-credit products and services as an unfair act or practice. The four groups are the American Bankers Association, the Consumer Bankers, the Independent Community Bankers of America, and the U.S.

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Using Data For Bank Event Lead Generation

South State Correspondent

In an earlier article, we discussed how we use “cost per impression” as a metric for planning, budgeting, and executing bank events that are specific for customer retention and branding. In this post, we expand that analysis and apply it to those events that a bank hosts or participates in designed to generate leads (“lead gen”) for product sales.

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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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The Path Less Taken to the Community Bank C-Suite

ABA Community Banking

Not many bank CEOs can say their first bank job was. being CEO. For those who can, they say it brings a unique perspective on leadership to the industry. The post The Path Less Taken to the Community Bank C-Suite appeared first on ABA Banking Journal.

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LeafLink, Bespoke Financial push cannabis payments

Payments Dive

LeafLink and Bespoke are building up their business in cannabis payments as their CEOs count on a rebound in prices for reefer.

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Keeping employees, technicians safe during ATM crime wave

ATM Marketplace

As ATM robberies continue to rise, ATM technicians and bank employees are often caught in the crossfire. How can banks protect their employees from harm?

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Managing Stagflation Credit Risk in Banking – Part III

South State Correspondent

In our first part of the Fed-bursting-the-everything-bubble, we discussed how and why some banks would struggle with interest rate, credit, and liquidity risks. In our second part of the series, we covered how monetary tightening and stagflation will cause cash flow constraints for borrowers and create credit risk for banks. In this article, we analyze why 75% LTV may not protect banks from credit risk on commercial loans and why there is only one source of loan repayment. .

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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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A gift that will keep on giving

Independent Banker

L to R, Arkansas governor Asa Hutchinson, FNB president/CEO Sam T. Sicard and Fort Smith, Ark., mayor George McGill. It may be celebrating its 150th anniversary, but First National Bank of Fort Smith didn’t want presents this year. Instead, it gifted $500,000 to its local Boys & Girls Club for an ambitious renovation. By Paul Sisolak. Just as much a part of western Arkansas history as its hometown, $1.84 billion-asset The First National Bank of Fort Smith (FNB) was founded on Feb. 29, 1872—j

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Fintech Philanthropi taps into giving surge

Payments Dive

The startup, which channels charitable payments, is targeting financial services partners as it seeks to grow, potentially with a new capital infusion this year.

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What's the advantage of cash?

ATM Marketplace

Cash has certainly taken a lot of hits over the years. From the advent of credit and debit cards to mobile payments, there have been many challengers to the medium. But despite all of that, cash remains a popular payment method around the world. But the question is: Why is this? What are the advantages of cash?

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Step Up Your SEO Efforts with Optimized GMB Listings

SWBC's LenderHub

There are a lot of acronyms in the world of marketing, and one that often gets tossed around is “SEO.” SEO stands for search engine optimization, and it’s one of those marketing terms that everyone knows is really important, but they aren’t really sure why or how to achieve it.

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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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UK property prices rise at the fastest rate for 18 years

TheGuardian

Imbalance between supply and demand continues to drive up prices despite cost of living crisis House prices in the UK rose at the fastest annual rate in 18 years last month as demand – especially for larger homes – continued to outstrip the number of properties on the market. Halifax, one of the country’s biggest mortgage lenders and part of Lloyds Banking Group, said the market “defied any expectations of a slowdown”, with prices rising year on year in June by 13%, the highest since late 2004.

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Meta to shutter Novi digital currency project Sept. 1

Payments Dive

The company’s website tells users how to withdraw funds and access transaction data that they’ll lose access to once the Novi pilot ends. Meta, however, said it plans to use Novi’s technology in future projects.

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Banks, payments hit as Rogers suffers major network failure in Canada

BankInovation

Rogers Communications Inc. is experiencing a widespread network failure in its wireless and internet services, causing payment systems and automated teller machines at banks to go down. Reports of problems with the Rogers network began early Friday and have reached tens of thousands of complaints, according to the tracking site Downdetector.ca. Royal Bank of Canada […].

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Department of Education Anti-Arbitration Regulation Fails Supreme Court Tests

CFPB Monitor

The U.S. Department of Education recently announced proposed regulations designed to expand and improve the major student loan discharge programs authorized by the Higher Education Act. Among other things, the proposed regulations would prohibit institutions that participate in the Federal Direct Loan program from requiring borrowers to sign mandatory pre-dispute arbitration agreements or class-action waivers.

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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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Gary Stevenson, City trader turned campaigner: ‘I made money betting on a disaster’

TheGuardian

The inequality activist grew up in poverty, became a millionaire at Citi, then rebelled against a career that ‘wasn’t right’ Gary Stevenson became a multimillionaire by “betting inequality was going to destroy our economy and make the poorest in society even poorer”. Growing up with his brother and sister in a cramped two-bed terrace backing on to a railway line in Ilford, east London, Stevenson, 35, had always wanted to make a lot of money.

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Walmart lashes back at FTC over money-transfer lawsuit

Payments Dive

In a fiery rebuttal to the Federal Trade Commission lawsuit last week, the nation’s biggest retailer is already doing battle in the court of public opinion.

National 221
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Listen: Cogent Bank launches TassatPay’s real time payment solution

BankInovation

The $1 billion Cogent Bank recently integrated blockchain-based, real-time payment platform TassatPay to provide its business-to-business (B2B) clients with 24/7 instant payment options. “Every part of the economy operates around the clock, there’s no reason why B2B payments shouldn’t,” Tassat Group Chief Executive Kevin Greene tells Bank Automation News in this episode of “The Buzz” […].

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This week’s podcast episode: Using artificial intelligence in underwriting consumer loans, with special guest Teddy Flo, General Counsel and Secretary of Zest AI

CFPB Monitor

Together with our special guest whose company provides software enabling lenders to use AI to underwrite loans, we explore a wide range of issues of importance to lenders using AI to underwrite loans. Our discussion topics include: the CFPB’s position on how ECOA adverse action notice requirements apply to credit decisions based on the use of AI; what is meant by explainability and interpretability of AI; fair lending and other compliance risks and steps to reduce risk; preparing for CFPB exams

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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.