BNB completes merger with Dime - Banking Exchange
WEBFeb 1, 2021 — The current Dime branch at One Huntington Quadrangle, Suite 1N06, Melville, and the BNB branch at 2222 Merrick Road, Merrick are set to close on April 16, 2021. Both are locating to new “consolidated” branches nearby. “Our enhanced branch footprint and increased capital base will allow the combined bank to …
Arvest Bank Partners with Thought Machine and Accenture For …
WEBSep 22, 2021 — The Arkansas-headquartered bank has partnered with working with UK-based tech company Thought Machine to help it build a new banking platform and support its digital transformation strategy, it announced this week. Thought Machine’s cloud-based banking ‘engine’, Vault, will allow Arvest to provide personalized, real-time banking services ...
WEBOmnichannel Banking in a Seamless Society How integrated technology is driving elevated customer expectations in banking and beyond Omnichannel banking aims to provide consistency for the consumer across all channels: digital, mobile,
Banks Earning Over $10m Experience Spike in Fraud Attempts in …
WEBJan 10, 2022 — Banks saw more monthly fraud attacks in 2021 compared to the year prior, according to a study from LexisNexis Risk Solutions. The ‘True Cost of Fraud Study’ surveyed 1,118 risk and fraud executives in retail and ecommerce companies in the US (973) and Canada (145) found that the average volume of monthly fraud attacks for banks earning more than $10 million in annual revenue has increased ...
First Citizens completes CIT Group merger - Banking Exchange
WEBJan 5, 2022 — First Citizens has confirmed the completion of its merger with CIT Group, which was first announced in October 2020.. The merger creates a company with more than $100 billion in assets and will operate under the First Citizens Bank name. “This is a transformational milestone in our 124-year-old history,” said Frank B Holding Jr, First Citizens chairman and chief executive officer.
Alerus enhances Arizona presence with Metro Phoenix Bank …
WEBJul 7, 2022 — The acquisition boosts Alerus’ presence in Arizona and strengthens its ability to provide diversified financial services to clients across the country. It also expands the business across banking, retirement and benefits services, wealth management, and mortgages. Additionally, Metro Phoenix Bank complements Alerus’ business model and ...
What really is “digital banking”? - Banking Exchange
WEBDigital banking is the incorporation of new and developing technologies throughout a financial services entity, in concert with associated changes in internal and external corporate and personnel relationships, to provide enhanced customer services and experiences effectively and efficiently. True, that’s a mouthful.
Why Your Next Regulatory Examination Requires Your Full Attention
WEBFeb 3, 2020 — For 2019, the maximum penalty amount per day was generally $10,000 and the lesser of 1 percent of total assets or $2,000,000, in the aggregate. The OCC imposed four civil money penalty orders in 2019. Senior bank management should meet and greet the examination group upon arrival to get the exam off on the right foot.
4 internal frauds and how to spot them - Banking Exchange
WEBMay 26, 2011 — Internal fraud warning signs. The same qualities that help employees work well can also help them perpetrate fraud. In four common schemes—general ledger fraud, identity theft, account takeover, and collusion with external criminals—insiders may devise ways to stay under the radar for years by taking advantage of internal vulnerabilities ...
Image Cash Letters: A complementary solution to RDC that helps …
WEBAs many maintain, remote deposit capture was originally deployed as a customer retention product following Check 21 legislation being signed into law. In 2004-2005 banks offered RDC, although the infrastructure and image-clearing network necessary to clear checks electronically was, at best, in its...