Being a leader requires work every single day if you want to be great at it. Here are some things the best leaders do in order to inspire and empower those around them.
Heather R. Huhman
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FIs share fraud-fighting insights with Plaid solution | Bank Automation News
Plaid is looking to fight fraud with its Thursday launch of a network-based tool to help financial institutions take a collective approach to a problem that cost consumers nearly $8.8 billion in 2022, according to the Federal Trade Commission. Plaid Beacon allows the data transfer company’s clients to share information about potentially fraudulent users with […]Victor Swezey
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Google Cloud launches AI-powered tool to fight money laundering | Bank Automation News
Tech giant Google launched an anti-money laundering tool backed by AI on Wednesday for financial institutions to detect nefarious activities. The tool uses machine learning (ML) to help financial institutions (FIs) identify risky transactions efficiently while driving down operational costs and improving consumer experience by using first-party data by the FI, according to Google’s release. More […]Vaidik Trivedi
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Seattle Bank’s CD Valet adds DAO capabilities | Bank Automation News
Amid strong competition for deposits, Seattle Bank’s CD Valet, which assists customers in finding the most competitive certificate of deposit rates, this month added digital account opening capabilities to the platform. “We’re providing somewhat of a software-as-a-service subscription to other FIs in the ecosystem, that allows them to use our marketplace and platform to originate […]Whitney McDonald
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5 account takeover attacks FIs should watch for | Bank Automation News
It’s no secret to financial institutions that fraud is on the rise. Seventy percent of financial institutions reported losses of over $500,000 to fraud in 2022, according to Alloy’s State of Fraud Benchmark Report. While fraudsters sometimes request direct payments from their victims, one of the most common — and most dangerous — methods for […]
Victor Swezey
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Transactions: Citizens selects embedded payments provider Wisetack | Bank Automation News
Citizens Financial Group selected embedded pay-over-time provider Wisetack Thursday for its new consumer financing platform, Citizens Pay. Citizens Pay will use Wisetack’s existing connections to merchants and software-as-a-service integration capabilities to offer customers the ability to finance home improvement purchases with low interest and individualized timetables, according to a news release. “Working with Wisetack, we’re […]Vaidik Trivedi and Victor Swezey
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Grasshopper Bank automates document processing | Bank Automation News
Grasshopper Bank integrated digital business solutions provider Numerated into the bank’s platform to automate document processing and streamline underwriting in a deal announced last week. The $700 million New York-based digital bank was looking to eliminate manual entry of client information to save time and reduce risk, Russell Jacobson, head of credit administration at Grasshopper […]Whitney McDonald
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Discover launches $36M venture fund | Bank Automation News
Discover has pledged $36 million toward its Discover Financial Health Fund, an initiative launched last week to support startups that promote the financial well-being of traditionally underserved populations. “The solutions being developed will support and improve the financial health of low- and moderate-income people, communities, and small businesses, helping them to build a better financial […]Victor Swezey
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IBM’s 1K AI consultants aid banks | Bank Automation News
IBM Consulting launched its Center of Excellence for generative AI last month, where clients, including financial institutions, can look to consultants for expertise, use cases, risk mitigation and advancements in the technology. “As part of our Generative AI CoE, we have developed industry-specific generative AI accelerators to rapidly scale AI across the enterprise in domains […]Whitney McDonald
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IBM’s AI consultants aid banks | Bank Automation News
IBM Consulting launched its Center of Excellence for generative AI last month, where clients, including financial institutions, can look to consultants for expertise, use cases, risk mitigation and advancements in the technology. “As part of our Generative AI CoE, we have developed industry-specific generative AI accelerators to rapidly scale AI across the enterprise in domains […]Whitney McDonald
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Citi touts tech investments to cut headcount | Bank Automation News
Citigroup plans to increase tech spend and prioritize its digital transformation as it works to reduce headcount through automation, Chief Financial Officer Mark Mason said at Morgan Stanley’s U.S. Financials, Payments & CRE Conference on Wednesday. The $2.4 trillion bank is investing specifically in the personnel who will help execute its shift toward an increasingly […]Victor Swezey
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Mastercard capitalizes on startups with SME program | Bank Automation News
Mastercard is inviting startups to address challenges within the credit card giant’s operations while taking part in its small business program that offers the company’s network access. The company selected five startups for its four-month Start Path Small Business program, the latest innovation cohort within Mastercard; the small business program joins four other groups: open […]Whitney McDonald
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Transactions: Amazon Pay picks Affirm for BNPL | Bank Automation News
Amazon Pay has selected Affirm as its first buy now, pay later provider in the United States, with the goal to give customers a more flexible payment option and give merchants on the platform a way to reach new customers, according to Omar Soudodi, director of Amazon Pay. A central Affirm feature is “adaptive checkout,” […]Whitney McDonald and Victor Swezey
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Deposits fall as Wells Fargo focuses on tech | Bank Automation News
Wells Fargo Chief Financial Officer Mike Santomassimo fielded criticism over stagnating consumer deposits Tuesday during Morgan Stanley’s US Financials, Payments and CRE Conference, and highlighted Wells’ digital infrastructure investment in response. “We’ve been focused at … improving our digital capabilities and you’ve seen that kind of rollout over the last year and a half,” Santomassimo […]Victor Swezey
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David Jones’ Perth CBD store reports massive slump in sales as rate rises weigh on customer spending – Medical Marijuana Program Connection
The flagship Perth store of upscale retailer David Jones is bleeding money as a rapid round of interest rate hikes continues to weigh on customer spending.
Sales figures leaked to The Australian reveal massive double-digit hits to sales across the department store chain’s national network, with cost of living pressures fuelled by the Reserve Bank’s cash rate increases blamed by management for the slump.
MMP News Author
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What are Soft Skills and Which Do You Need For Success | Entrepreneur
Opinions expressed by Entrepreneur contributors are their own.
You can always learn a new hard skill but soft skills, on the other hand, are a lot more challenging to learn or acquire.
Businesses tend to overlook soft skills and focus on hard skills. But as employee-employer dynamics are always adapting and changing, soft skills are becoming more prevalent.
Adrian Shepherd
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Movers and shakers: Bank of America, Apple execs join Chargebacks911 | Bank Automation News
Platform provider Chargebacks911 named Guy Harris as its chairman of the board and Eric Hoffman as president of interbank solutions and board member. Chargebacks911 is “a technology platform provider for chargeback management and dispute resolution,” Chief Executive Monica Eaton told Bank Automation News. The two new hires bring experience from the finance industry, Eaton said. […]Whitney McDonald
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How 3 fintechs are using AI to fight fraud | Bank Automation News
The blistering pace of AI development is creating market opportunities for financial institutions while making them vulnerable to an increasingly sophisticated threat: fraud. More than 3 in 4 financial institutions worldwide worry about their ability to effectively handle emerging fraud threats, and more than 8 of 10 say they have trouble balancing security with a […]Victor Swezey
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Northwest Bank gains sticky deposits through Deluxe | Bank Automation News
Northwest Bank has improved its customer acquisition and retention through personalized, automated marketing and digital offerings since implementing data-driven marketing agency Deluxe in 2021. The $14 billion bank launched Deluxe’s Life Event Trigger Program last year and posted program outperformance at 112% of the target, checking balances also outperformed at 118% of the target and […]Whitney McDonald
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TD Bank unveils redesigned mobile app | Bank Automation News
TD Bank is redesigning its mobile banking app to create an easier and more connected user experience as mobile banking demand grows, Head of Canadian Personal Banking at TD Bank Michael Rhodes said at today’s Investor Day 2023 event. “Coming soon, customers using the mobile app will begin to experience a more consistent, simple, intuitive […]Whitney McDonald
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