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Hard Core: A Lack of Options for Processing Systems Continues to Frustrate

By Alaina Webster, Managing Editor

By far, the most interesting session I attended at the recent American Bankers Association conference in San Diego was “Addressing Core System Challenges.” During the hour-long session, a panel of five bankers, moderated by ABA’s Senior Vice President Christopher McClinton, discussed the intent of a newly convened ABA committee to address core system frustrations faced by community and mid-sized banks.

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Stemming the Student Debt Crisis

Private student loans could benefit students and banks.

By Alaina Webster

There’s a reason the current student debt conundrum in the U.S. is often referred to as a “crisis.” According to data from the Washington, D.C.-based Consumer Bankers Association, student loan debt has risen from $600 billion in 2008 to $1.5 trillion in 2018. Moreover, the New York Fed found that one in five borrowers in repayment is seriously delinquent or has defaulted on their student loans, and a recent chart from Raddon Research Insights shows that millennials who are shouldering student loan debt have higher levels of credit card and consumer loan debt but lower levels of real estate loan principle and lower deposit balances.

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Vendor Management Is Risk Management

Just because you outsource it, you’re still responsible for it. — Terry Ammons

By Alaina Webster

At a time when more and more financial institutions are outsourcing pieces of their operations, good vendor management has become crucial to success. From improving the bottom line to staying in the good graces of regulators, staying on top of vendor services and understanding the vulnerabilities they present is a key challenge.

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Thinking Outside the Black Box

Why AI in AML makes sense.

By Alaina Webster

Recently, federal regulatory agencies issued a joint statement that, boiled down, encourages financial institutions to take advantage of the possibilities artificial intelligence (among other new technologies) might offer banks in meeting their Bank Secrecy Act/anti-money laundering compliance requirements.

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Will the Fed’s Move Toward Faster Payments Keep Pace With Industry Needs?

In late October, the Federal Reserve Bank of Kansas City hosted the first of what will eventually be 12 town hall-style meetings at its district banks throughout the U.S. The purpose of these meetings: to introduce financial industry types to two proposals for central bank involvement in faster, real-time payments and gauge their reactions.

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