The imperative is to keep one eye on the business, and the other eye on talent. The former is fed by the latter.
The latest generation of anti-money-laundering software uses agentic AI to help alleviate AML alert fatigue. Experts say this use of the technology is promising, though they offer some caveats.
-
The payments industry produces billions of cards each year, contributing to the massive amounts of plastic that end up polluting the planet. Key players have stepped up to adopt more environmentally friendly options.
-
SVB promotes its head of payments infrastructure, Turkey approves Colendi to open a digital bank and more.
-
Banks like Capital One, U.S. Bank and Santander are updating their floor plans and their menus — often with a discount on food or beverages for cardholders — to reach more millennial and Gen Z consumers.
-
Hedge fund, private equity, infrastructure and real estate asset management fees are down in both pooled and separately managed accounts, Mercer LLC's 2010 Asset Manager Fee Survey found.
-
Broadridge Financial Solutions has promoted Susan Certoma from chief operating officer to president of its brokerage processing services.
-
Investors who work with a financial professional report saving significantly more for retirement, according to research by ING Retirement Research.
-
The state became the first in the country to ask federal regulators for a temporary waiver, citing a shortage of available appraisers.
-
Wells Fargo estimates that in 400 instances, borrowers later went through foreclosure who were improperly denied or not offered a mortgage modification.
-
The three credit unions have assets of nearly $638 million and serve more than 53,000 members.
It's surprising how much advice varies about how to respond to customer complaints on social media. Ignore small threats, some say, while others warn banks to respond immediately because they could go viral. Still others think banks should overhaul their whole customer experience to disarm critics.
National Bankshares in Virginia agrees to acquire in-state peer, Advia Credit Union in Kalamazoo strikes deal with Illinois bank, EBANX's annual Beyond Borders study launches and more in the weekly banking news roundup.
Brian Brooks, former acting Comptroller of the Currency in the first Trump administration and advisor to the President-elect's transition team, said new agency heads will open up commercial real estate lending, approach credit risk management differently and privatize Fannie Mae and Freddie Mac.
-
Widespread card acceptance was key to keeping small businesses afloat during the pandemic and will be crucial to helping consumers and businesses get the economy booming again, says the National Taxpayers Union's Thomas Aiello.
-
Incumbents have access to tons of information on consumers, but developing the means to analyze and act on it requires a strategic change, says Icon Solutions' Simon Wilson.
-
Security is a constantly changing game, with criminals adopting new strategies and the payment industry and other financial institutions deploying increasingly sophisticated techniques to stop them.
-
Flatirons Bank in Boulder, Colorado, has filed suit against a Virginia-based trust company for allegedly attempting to block its entry into the multibillion-dollar qualified settlement fund business.
-
The digital asset tech provider, which recently raised $140 million, will power Morgan Stanley's E*Trade crypto offerings early next year.
-
A new industry standard from the Cloud Security Alliance aims to solve major security challenges for companies that rely heavily on cloud-based operations.
-
PayPal agrees to a $7 billion BNPL loan purchase agreement with Blue Owl Capital, while Revolut, which is building a financial superapp, is looking for permission to offer more banking products. That and more in the American Banker global payments and fintech roundup.
-
The American Bankers Association's Economic Advisory Committee expects the economy to grow, albeit at a slower pace than it previously anticipated. The group pointed to stubbornly high inflation and a weakening job market.
-
The president is charging $100,000 for H-1B visa petitions that allow skilled workers to migrate to the U.S. Here's a look at the impact on banks and payment firms.
- Daily BriefingDelivered Every WeekdayIdeas that impact your business delivered to your inbox every day.
- TechnologyWednesday, ThursdayThe latest industry developments from digital banking to cybersecurity to AI.
- PaymentsDelivered Every WeekdayAn early-morning roundup of important headlines from the past 24 hours.
- Best of the WeekFridayThe most important and widely read stories from the previous week.
Federal Reserve Chair Jerome Powell said there was a "high degree of unity" among committee members during this week's Federal Open Market Committee vote. Out of 12 FOMC members, 11 voted for a 25 basis point cut.
The Federal Open Market Committee's decision to reduce interest rates for the first time in nine months lifted bank stocks Wednesday. The 25-basis-point reduction could lead to net interest income headwinds now, but loan growth later, analysts said.
The 23rd annual ranking of women leaders in the banking industry.
- Partner Insights from Alacriti
-
Partner Insights from FIS -
Partner insights from Infosys -
Partner Insights from Alloy
