Jeff For Banks
OCTOBER 30, 2023
The 2022-23 Fed monetary tightening caused disruption to our depositor base. We either lost deposits to Treasuries, money market mutual funds, or disintermediated into higher cost deposits within our bank. In this video short, I suggest three ideas to improve your deposit strategy as follows: 1. Identify "dead money" in your depositor base and pro-actively deepen your relationship with them. 2.
Perficient
NOVEMBER 1, 2023
Intelligent automation and generative AI can unlock tremendous value for financial services leaders who want to optimize experiences and reduce costs. Perficient was honored to participate in the inaugural Banking, Financial Services, and Insurance (BFSI) event hosted by Kofax. With more than 50 financial services and insurance professionals in attendance, this event showcased the industry’s unwavering commitment to practical innovation.
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South State Correspondent
OCTOBER 31, 2023
Last week, we discussed how and why commercial lenders use a bank loan proposal letter (aka commitment letters) to their advantage ( HERE ). We argued that a proper strategy and a well-crafted loan proposal letter could help lenders close loans quicker, eliminate more competitors, secure better pricing, and obtain the desired credit structure. In this article, we discuss the top four mistakes that we see in commitment/proposal letters.
Payments Dive
OCTOBER 31, 2023
The CEOs of Mastercard and Global Payments chimed in with opposing views of the Federal Reserve Board’s proposal to lower the cap on debit interchange.
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
How do you know if your accounting team is ready to automate the month-end close? Join us in this informative webinar, where we share the top 8 signs that indicate that a team has outgrown all existing tools and may be ready to embark upon month-end close automation. We will examine the process clues that help determine whether your team would be a good candidate for automation.
American Banker
OCTOBER 30, 2023
In a pilot it rolled out this year, Nashville-based Vanderbilt Credit Union will lend graduates up to $160,000 if they have a job offer sheet in hand.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
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CFPB Monitor
NOVEMBER 2, 2023
On October 3, 2023, the U.S. Supreme Court held oral argument in CFSA v. CFPB , a case with profound potential implications for the future of the CFPB. The Court will rule on whether the CFPB’s funding mechanism violates the U.S. Constitution’s Appropriations Clause and, if so, what the appropriate remedy should be. .
American Banker
OCTOBER 31, 2023
The president directed government agencies to frame new rules on protecting privacy and security, preventing intellectual property theft, reducing bias and more in banks' use of AI models.
Payments Dive
OCTOBER 30, 2023
As more merchants accept digital payments for in-store purchases, consumers are moving away from using multiple, single-use payment apps, McKinsey Senior Partner Marie-Claude Nadeau said.
Payments Dive
NOVEMBER 1, 2023
The amendment to the FTC’s Safeguards Rule would require non-banking financial institutions to report when they discover information impacting at least 500 people has been accessed without authorization.
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Digital platforms can provide you with plenty of solutions, yet many are still intimidated by them. It's time to end that worry and embrace what could make a major difference for your bank. Understanding how they work and how to best utilize them for your banks is key toward success. In this article, Biz2X breaks down all things digital platforms, including the many advantages of embracing them.
Accenture
OCTOBER 31, 2023
PSD2 helped drive electronic payment and data-sharing volumes while enhancing security. So why is the EU proposing to enhance it with the new Payment Services Directive 3 (PSD3) and Payment Services Regulations (PSR) package, and what does this entail? 1) Gaps in the regulatory application of PSD2. The new framework will create a consistent regulatory environment… The post EU future-proofs its payments and Open Banking ecosystem with PSD appeared first on Accenture Banking Blog.
Perficient
NOVEMBER 1, 2023
In today’s world, enterprises must put an emphasis on their cloud transformation, or they’ll be left behind. To have success, organizations must adopt cloud in concert with business vision to deliver digital initiatives and strategic goals. One of the leading drivers of digital transformation is application modernization and migration, but unfortunately, not everyone has the internal resources to champion these efforts on their own.
Abrigo
NOVEMBER 3, 2023
Top 5 CECL best practices and their benefits Now that CECL is implemented, follow these recommendations for ongoing management to provide confidence and be more efficient. You might also like this webinar, "Conquering CECL model validation: Prepare for success." WATCH Takeaway 1 How can you ensure ongoing compliance and efficient management of the allowance for credit losses?
Payments Dive
NOVEMBER 3, 2023
The company plans to cut about 8% of its workforce over the next year as Jack Dorsey steps up his efforts to improve efficiency and revive profits.
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In the ever-evolving commercial lending landscape, adaptability is key to survival and growth. As lenders navigate the challenges and opportunities presented by the state of the market, alternative lending strategies have emerged as powerful tools for success. We will explore six strategies with the potential to transform lenders’ business. Understanding alternative lending strategies is crucial.
CFPB Monitor
NOVEMBER 1, 2023
On October 29, the Biden Administration issued a broad Executive Order (Order) on artificial intelligence (AI). Titled “Executive Order on the Safe, Secure, and Trustworthy Development and Use of Artificial Intelligence,” the Order establishes guidelines for AI safety and security, aims to shield Americans’ data privacy, and emphasizes equity and civil rights. .
Gonzobanker
NOVEMBER 2, 2023
Financial institutions standing in 2030 will have completed a significant and gut-wrenching transformation of their leadership talent. Every year, digitization further rattles the relevancy of the traditional hierarchical banking organization. In the throes of managing balance sheets and loan portfolios and at the same time executing daily “run the bank” operations, bankers are faced with the need to continuously develop new customer experiences and scale enterprise capabilities.
Jack Henry
NOVEMBER 2, 2023
The benefits of a multilingual digital banking system go far beyond expanding a Financial Institution’s customer base. Click to learn more.
Payments Dive
NOVEMBER 3, 2023
The digital payments company said it’s cooperating with a Securities and Exchange Commission probe of its stablecoin, and a Consumer Financial Protection Bureau inquiry related to bank transfers.
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.
CFPB Monitor
OCTOBER 30, 2023
The Texas federal district court hearing the lawsuit challenging the validity of the CFPB’s final rule implementing Section 1071 of the Dodd-Frank Act (Rule) has issued an order that preliminarily enjoins the CFPB from implementing and enforcing the Rule on a nationwide basis against all entities covered by the Rule. On July 31, the court had denied the request of the plaintiffs in the lawsuit for nationwide preliminary relief and instead issued an order that granted preliminary relief only to
ATM Marketplace
OCTOBER 31, 2023
Digital banking is important, but branches also have a role to play. A panel at the Bank Customer Experience Summit in Charlotte, North Carolina took a look at what's new in branch design.
ABA Community Banking
NOVEMBER 3, 2023
"When we're able to take banking the them, at a place where they already have trust with their employer, that's a bridge," says Jennifer Huffman of Atlantic Union Bank's workplace banking product. "From there we're able to grow that relationship." The post Podcast: Building trust by bringing the bank into the workplace appeared first on ABA Banking Journal.
Payments Dive
NOVEMBER 2, 2023
The new payment rail allows fintech clients to move money between banks in milliseconds, the software company’s CEO said in an interview.
Advertiser: Trellis
Trellis is a state trial court research and analytics platform that provides Real Estate Professionals (Buyers, Foreclosure, Loan Modification, etc.) with LEADS on Pre-Foreclosures, Lis Pendes, Distressed Assets and more — to help uncover **new** opportunities and grow their business. The process is quick and easy — and all in real time. Trellis will supply you with a link to the relevant dockets, a Leads sheet and access to its UI where applicable.
CFPB Monitor
OCTOBER 30, 2023
As we previously blogged , the Board of Governors of the Federal Reserve (the “Board”) held an open meeting on October 25, 2023 to discuss the debit card interchange fee cap. The debit card interchange fee cap was part of the so-called “Durbin Amendment” to the Dodd-Frank Act, which required the Board to promulgate a regulation applicable to banks having more than $10 billion in assets establishing maximum debit card interchange fees that are “reasonable and proportional to the actual cost” of p
TheGuardian
OCTOBER 30, 2023
Exclusive: Projects that risk 1.5C heating target operated by companies receiving financing from European, Chinese and US banks Banks pumped more than $150bn last year into companies whose giant “carbon bomb” projects could destroy the last chance of stopping the planet heating to dangerous levels, the Guardian can reveal. The carbon bombs – 425 extraction projects that can each pump more than one gigaton of carbon dioxide into the atmosphere – cumulatively hold enough coal, oil and gas to burn
Ublocal
OCTOBER 30, 2023
Cold weather and snow can damage not only the structure of your home but also wreak havoc on your utility bills. In order to avoid high energy costs and expensive repairs, homeowners should take steps to winterize their homes each year. Whether you are new to Vermont and New Hampshire, or a first time homeowner , you may wonder what is needed to winterize your home.
Payments Dive
NOVEMBER 2, 2023
Alex Chriss, who took the top post in September, tapped a new chief financial officer Wednesday and pledged to better focus the digital payment company's strategy.
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Creating a winning digital lending experience requires plenty of focus on the needs of customers and more. Biz2X Chief Product Officer Aaron Traub covers everything from how to create such an experience, areas to hone in on, pitfalls to avoid, and plenty more in this insightful article. Discover how to utilize new technology without alienating existing customers, what to emphasize when working on your platform, and how to utilize the data at your disposal while not becoming overly reliant on it.
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