Top

Tag: finance


News

The irony of incumbent core banking vendors

November 17, 2023

Via: FinTech Futures

I’ve previously covered the evolution of banking technology and why almost every bank has multiple cores. So, analogies of “changing a plane’s engine whilst in flight” or “heart surgery with the patient watching” don’t really get across the full complexity […]


Activity, Retail Banking

Small business card debt has risen: Bank of America

November 17, 2023

Via: Payments Dive

Bank of America attributes the rise in small business credit card balances in part to increased spending in 2021 and the first half of 2022. The report focused on small businesses noted that credit card spending has remained at about […]


Channels

How Some Banks Are Prevailing in the Battle for Deposits

October 10, 2023

Via: Bank Director

We recently asked bankers in our “State of Commercial Banking Midyear Update” presentation what was top of mind for the remainder of 2023. The answer was clear: 80% of the respondents selected deposit growth and retention. As interest rates have […]


News

Banking Tech Awards USA 2024 nominations are now open!

October 10, 2023

Via: FinTech Futures

This year there are 38 categories to choose from, including the Project Awards for banks and financial institutions, the Excellence in Tech Awards for software and services providers and the Leadership Awards for individuals and teams. The awards are a […]


News

AI-Driven Fraud Is Banking’s Next Great Risk

October 9, 2023

Via: Bank Director

ChatGPT’s tsunami-like landfall in November 2022 made clear that generative artificial intelligence (AI) marked a profound advancement with broad applicability. Yet just as AI’s newest incarnation represents a major opportunity for businesses of all stripes, it’s also a potentially significant […]


News

Is “digital transformation” a redundant concept?

October 9, 2023

Via: FinTech Futures

However, I feel it’s worth exploring whether the concept of digital transformation is redundant in the fast-paced and ever-evolving landscapes that we currently operate in. Below are some of the reasons why some could argue that digital transformation is an […]


Capital and Risk, Credit

U.S. Bank Receives $55 Million in New Markets Tax Credit Allocation

September 29, 2023

Via: Yahoo

U.S. Bancorp Impact Finance, a subsidiary of U.S. Bank, and its community development entity (CDE) – USBCDE, LLC – received $55 million of New Markets Tax Credit (NMTC) allocation from the U.S. Department of Treasury. The allocation is part of […]


Activity, Channels, Corporate Banking

U.S. Bank Unveils Connected Partnership Network

September 21, 2023

Via: Yahoo

U.S. Bank today unveiled an online marketplace of third-party payment and treasury solutions that are fully integrated with U.S. Bank systems. The U.S. Bank Connected Partnership Network helps corporate treasury teams easily identify and adopt technology connected with the bank, […]


Activity, Capital and Risk, Corporate Banking, Credit

Unlocking the Potential of Small Business Lending

September 20, 2023

Via: Bank Director

Community banks have long played a pivotal role in supporting small businesses, providing the necessary capital for local entrepreneurs growing or expanding their ventures. It is estimated that community banks account for approximately 60% of small business loans, according to […]


Capital and Risk, Liquidity

Japanese Yen Forecast: A Big Week Ahead for USD/JPY Traders

September 18, 2023

Via: DailyFX

The Federal Reserve (Fed) and the Bank of Japan (BoJ) will both announce their latest monetary policy decision this week – Wednesday and Friday respectively – with both central banks expected to leave interest rates untouched. Both decisions however have […]


Capital and Risk, Liquidity

GBP Price Action Setups: GBP/USD, GBP/AUD on the Back Foot Ahead of Massive Week

September 15, 2023

Via: DailyFX

GBP has faced selling pressure this week weighed down in part by GDP data, with an increase in total earnings unable to arrest the slide. Now obviously there was some mitigating effects on the recently released data which may blur […]


Regulations

Feds Tell Banks to Be on Alert for Payroll, Work Comp Premium Fraud Schemes

September 15, 2023

Via: Insurance Journal

A US Treasury Department unit that investigates financial crimes has directed banks to send alerts when they come across suspicious activity that indicates a business is using check cashing companies to avoid payroll taxes and reduce workers’ compensation premiums. Such […]


Capital and Risk, Liquidity

XAU/USD Price Forecast: US PPI & Retail Sales Could Push Gold to $1900

September 14, 2023

Via: DailyFX

Gold prices remain under pressure this Thursday after yesterday’s US CPI report showed elevated headline inflation despite a softer core inflation read. This translates through to sustained tight monetary policy by the Federal Reserve. Energy was the primary contributor to […]


Channels

Risk Mitigation in Corporate Remittance: Strategies for Ensuring Financial Security

September 12, 2023

Via: TechBullion

Today, companies from different countries need to send money to each other. This helps them trade and do business smoothly across the world. It’s an essential way to keep financial transactions running smoothly between countries.When companies do business with other […]


Capital and Risk, Operational

Monzo announces new feature to help protect customers against impersonation scams

September 7, 2023

Via: FinTech Futures

An impersonation scam is when a scammer makes contact with an account holder, typically by calling them, and pretends to be from a trusted organisation to manipulate them into transferring them money. As the rise of digital banking services continues, […]


Capital and Risk, Insurance

Global Fears Are Feeding Demand for Lloyd’s of London Insurance, CEO Says

September 7, 2023

Via: Insurance Journal

Growing fears about the state of the world are pushing more people to take out insurance even as prices rise, Lloyd’s of London Chief Executive Officer John Neal said. Rising inflation, recession worries, climate threats and geopolitical tensions are making […]


Activity, Retail Banking

JP Morgan Payments taps Network International to strengthen payments acquiring in the Middle East

September 5, 2023

Via: FinTech Futures

Utilising Network International’s acceptance solutions and “decades of expertise” in card processing and value-added services, JP Morgan Payments aims to “expand and complement” its existing payment offerings in the region. Founded in 1994 and headquartered in Dubai, Network International offers […]


Capital and Risk, Insurance

Florida Regulators Remind Insurers to Take Care of Insureds as Claims Come in

September 5, 2023

Via: Insurance Journal

The property insurance industry breathed a sigh of relief after Hurricane Idalia landed in a less-populated part of the coast, but regulators have signaled a need to make sure that claims from the area, now topping 10,000, are taken care […]


News

Reviewing Recent Bank Guidance on Third-Party Risk

September 1, 2023

Via: Bank Director

Financial institutions are increasingly ramping up partnerships with third-party organizations that offer technologies that promulgate efficiencies or add new banking products to drive revenues. As these partnerships increase, the risk to the banking system is also increasing. In June, the […]


Capital and Risk, Insurance

Coal Producers Forced to Self-Insure as They Are Cut Adrift by Insurers

August 31, 2023

Via: Insurance Journal

Some coal producers are having to set aside tens of millions of dollars to cover their own risks as they are cut adrift by insurers, making it more difficult and costly to do business amid a surge in demand for […]