Retail Banking
On July 1st, 2018, Amendments to Federal Reserve Regulation CC take effect. Many financial institutions are taking a passive approach to these very important changes. Others are serious about making changes to their deposit agreements and are changing workflows to modernize their risk and fraud practices. What’s your position on these changes? The amendment creates…
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Is your financial institution ready for payment innovation? The Innovation Readiness Playbook from PYMNTS.COM surveyed US financial institutions and created a gem for strategic and tactical considerations. Like many surveys, you can take a positive or negative spin on the data and critique the questions. For example: Is this a wake-up call to mid-sized financial institutions that…
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You’ve probably seen the headlines: Bank of America ends free checking option, causing customer uproar Bank of America Is Eliminating a Popular Free Checking Account A major bank eliminates free checking – – a blow to the lower income consumer who depends on checks and checking accounts, right? Would it spur industry-wide changes, similar to…
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The “death” of the check is still way behind schedule, according to many organizations that predicted the end of paper checks many years ago. We keep reporting that checks are still popular when they were supposed to have been dwindling years ago. (That’s the boring part of the post) The latest installment in PYMNTS’ Kill…
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Cornerstone Advisors recently released their 2017 Cornerstone Performance Report for Banks. On the heels of this report, Gonzo Banker website offers their insight into how banks’ operational performance has changed over the past 10 years based on the information contained in the report. There’s a long list of metrics that have changed dramatically, but they narrowed it to 10…
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A new year means new opportunities, and Aite Group’s Top 10 Trends Report tells us to be ready for changes in 2018! It looks to be an amazing year of challenges for retail banking payments as well as wholesale banking. Note: Both sites also feature a link to their Top 10 Trends in Financial Services, 2018 summary…
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OrboAnywhere offers banks straight-through processing automation as well as risk/fraud prevention Billerica, MA, December 11, 2017 – OrboGraph, a premier developer and supplier of intelligent electronic/paper automation leveraging recognition technologies, image validation and check fraud detection for the U.S. check processing and healthcare revenue cycle markets, was recently featured in the November edition of CIO Applications…
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The FDIC’s quarterly Banking profile contained good news for their client banks. FDIC-insured commercial banks and savings institutions are reporting third-quarter 2017 earnings of $47.9 billion — that’s 5.2% year over year. Community banks make up 92% of all FDIC-insured institutions; they reported net income of $6 billion, up 9.4% from last year. Also, Net Interest…
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Fintechs and banks have been at odds with one another over customer information since the first moment that someone somewhere decided “fintech” was an actual word. American Banker reports that the icy relationship may be thawing. Fintechs have been arguing that they need to access bank customer account data to provide a variety of services,…
Read MoreThe Money20/20 conference this year in Las Vegas gathered an astounding array of speakers for what is called “The World’s Largest Payments & Financial Services Innovation Event.” Artificial intelligence, online commerce, robotics, even materials handling – – the spectrum of topics covered was enormous. In case you missed the conference (or if you attended but,…
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