2022

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Cross-border payment plays rev up

Payments Dive

The Clearing House, Swift and rivals are jostling to speed up cross-border payments, with collaboration and competition likely to emerge at an international conference this week.

Payments 545
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Banking in the metaverse: the next frontier

Accenture

As you read this, the internet is being reshaped. And it’s already transforming banking. We have not witnessed a topic explode quite like the metaverse. While extended reality (XR) technology has been around for some time, the topic’s momentum has recently accelerated with some analysts now predicting the metaverse to be an $8 trillion opportunity.….

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Brad M. Bolton: Community continuation

Independent Banker

Photo by Chris Williams. Community continuation is not about checking a regulatory box; it means putting a name to the people who will be the future of our banks. One of my favorite sayings my dad passed onto me is also a motto I live by: “How far you go in life depends on your being tender with the young, compassionate with the aged, sympathetic with the striving and tolerant of the weak and the strong.

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The 2022 GonzoBanker Awards

Gonzobanker

OK, show of hands. Who saw 2022 coming and accurately predicted the headlines? All of you with your hands up… … uh huh. Pull ’em down. No, you didn’t. Nobody did. It would have required a few trips to the local dispensary to dream up what bankers have endured this year. A few modest examples of the 2022 roller coaster ride: The Fed rate hikes in 2022 totaled 425 basis points.

Community 216
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Case Study: First Mid Bank Fast-Tracks New Market Entry in Commercial Lending

Discover First Mid Bank's Expansion Success with Our Case Study! Discover how First Mid Bank & Trust fast-tracked market expansion through advanced automation and compliance solutions. This case study reveals their journey from facing challenges in Texas' complex legal landscape to achieving rapid market entry with GoDocs' innovative commercial closing platform.

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Securing a Resilient Financial Services Enterprise

Cisco

The functioning of global economies is partially reliant on a secure and protected financial services infrastructure. It is the reason why financial services is one of the most highly regulated and highly fortified industries. Therefore financial institutions require a more resilient operating model, one that has the capability to reduce risk at scale and protect the business amidst unpredictable change.

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More Trending

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NatWest’s Sir Howard Davies: ‘I’m quite pessimistic. Brexit was a significant mistake’

TheGuardian

The banker and former regulator has seen many crises in his career, but war and political division have him worried Sir Howard Davies is a worried man. He is worried about political polarisation. He is worried about the long-term impact of Brexit on the City of London. And he is worried by the pushback against globalisation. One thing he is not especially worried about is the health of the bank he chairs, NatWest, which in its former guise as Royal Bank of Scotland was on the edge of collapse du

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Predicting exchange rates

BankUnderground

Robert Czech, Pasquale Della Corte, Shiyang Huang and Tianyu Wang. Can investors predict future foreign exchange (FX) rates? Many economists would say that this is an incredibly difficult task, given the weak link between exchange rate fluctuations and the state of an economy – a phenomenon also known as the ‘exchange rate disconnect puzzle’. In a recent paper , we show that some investors in the ‘FX option market’ are indeed able to accurately forecast exchange rate returns, particu

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Podcast: Seeing Results from Community Bank Advocacy

ABA Community Banking

On the latest episode of the ABA Banking Journal Podcast, Ohio bank CEO Mike Vynalek discusses his own journey in community bank advocacy and how he's getting emerging leaders at his bank involved in advocacy. The post Podcast: Seeing Results from Community Bank Advocacy appeared first on ABA Banking Journal.

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In FTX’s bankruptcy, here are the top 10 investment and M&A holdings creditors should be looking at

CB Insights

Sam Bankman-Fried’s crypto exchange FTX filed for bankruptcy protection on November 11 — the culmination of a steady stream of bad news for the company and a “bank run” that saw roughly $6B in customer withdrawals. A total of 134 affiliated companies were part of the filing, and there could be more than a million creditors involved. download The State of Blockchain q3’22 report.

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Exploring the Liability Shift: A Comprehensive Guide to Fraud Loss Responsibility and Mitigation

Shifting liability for digital fraud losses represents a significant challenge for financial institutions and payment service providers. In response to the global surge in digital fraud, regulators are introducing policies that transfer the cost of fraud from defrauded customers to financial institutions. ThreatMark’s newly released white paper, "The Liability Shift: Understanding Fraud Losses Responsibility and Mitigation," provides an in-depth analysis of this shift, its implications, and stra

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Fujitsu to offer digital security solution in metaverse

The Paypers

Japan’s JCB , JP GAMES , and Fujitsu have partnered for a year-long joint project to improve the security of distribution and sales of digital data in the metaverse and gaming world.

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FedNow to launch by mid-2023, Fed official says

Payments Dive

The federal government’s new real-time payments system should be ready for use by the middle of next year, Fed Governor Michelle Bowman said in a speech this week.

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U.K. fintech Wise goes on hiring spree as rivals downsize

American Banker

Fintech 101
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The ICBA 22/23 executive committee is all in

Independent Banker

Photos by Chris Williams. From credit union overreach to onerous overregulation, the 2022/23 ICBA board of directors has plenty on its to-do list. Executive committee members tell us what advocacy issues they’ll be focused on during their terms, while board members share their words of wisdom for up-and-coming community bankers: themselves. To sum it up, these leaders are all in and all heart for community banking.

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Live Demo: How to Achieve Reconciliation Zen

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

Automation generally supercharges any process and brings its value to the forefront. See how infusing automation such as ART (our month-end close solution), into your close can get you to the next level of closing. We will share a live demo of SkyStem's solution, ART and share the key elements of month-end close automation. Through ART, we'll take a look at: What month-end close automation entails Which process steps can and should be automated Benefits of achieving process automation, and Why i

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Digital Banking Transformation Trends for 2023

The Financial Brand

This article Digital Banking Transformation Trends for 2023 appeared first on The Financial Brand. Many banks are focusing on digital transformation, but about one in three deploying it at scale or in part are disappointed. What's wrong? This article Digital Banking Transformation Trends for 2023 appeared first on The Financial Brand.

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Business Resiliency and Agility: The Need for Speed and Security

Cisco

It’s Blockbuster Night! Say that to any Gen-Xer and it should bring a smile and recollection of days gone by. Netflix took Blockbuster by storm and grew from mail order DVDs to the streaming behemoth they are today. One day, will we reminisce about brick and mortar financial services companies being replaced by digital-first financial services companies like Alipay, Block, Grab, Klarna and Paypal?

Security 158
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Banks push back against CBDC

Payments Dive

The nation’s biggest bank and bank trade groups stressed the risks of creating a central bank digital currency in comments to the Fed, and largely rejected the idea that a digital dollar would accomplish stated goals.

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Feds crack down on improper payments

Payments Dive

A federal government report released this week takes aim at the problem of fraudulent public benefit payments, which mushroomed to $281 billion for fiscal year 2021.

Payments 545
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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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FedNow chases real-time payments front-runners

Payments Dive

The Federal Reserve plans to unleash a U.S. real-time payments system next year in the form of FedNow, but it’s an open question as to whether, or how, consumers and businesses will adopt instant payments.

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Russia pivots to UnionPay for payments alternative

Payments Dive

With Russia shut out of U.S. and EU payment infrastructures, the country is pivoting to alternatives such as China's UnionPay card system and other channels that may take its trade and commerce through China.

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Afterpay adds monthly BNPL option

Payments Dive

The Block-owned buy now-pay later provider is growing beyond its “pay in 4” plans by adding a financing option for pricier purchases.

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Who’s afraid of FedNow? Not Visa

Payments Dive

Visa's CFO on Wednesday brushed off any concerns about the threat of new competition from FedNow, or any other real-time payments system.

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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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4 trending social media tips to know

Independent Banker

Illustration by miakievy/iStock. The Social Bankers, a collective of community bank marketers, offers inspiration, information and professional development advice to community bankers focused on marketing and social media. We asked them for their need-to-know social tips. By Julie Kendrick. While so many things about banking have changed in recent years, social media continues to grow in its impact on prospects, customers and employees.

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Open Banking and Ecosystems

Cisco

Venmo, just like Google, has become a proper noun AND a verb. Venmo solved a problem of an individual wanting to pay another individual (or even small business) without having to use cash, check or even debit/credit card. Open banking made this possible. Open banking allows third-party financial services companies to access consumer banking, transaction, and other financial data via the secure use of APIs.

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Brexit: more than 7,000 finance jobs have left London for EU, EY finds

TheGuardian

Paris, Frankfurt and Dublin are most successful in luring roles from UK, say consultants More than 7,000 finance jobs have moved from London to the EU as a result of Brexit, down 400 from the total anticipated in December, the consultants EY have said While the total is well down on the 12,500 job moves forecast by firms in 2016, when Britain voted to leave the bloc, more could follow, EY said in its latest Brexit tracker.

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From flying taxis to painless vaccines: seven businesses to watch this year

TheGuardian

Our business writers pick their contenders for the headlines in 2022, from startups to venerable high street favourites In all likelihood, BT will be under new ownership, or at the least involved in a takeover battle, in June next year. The billionaire Patrick Drahi has been assiduously building his stake in the British telecoms giant, having spent more than £3bn to acquire 18% to date , making him BT’s biggest shareholder.

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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.