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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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Young Employees Want Banks to Bring the “Sexy” Back

By Alaina Webster, Managing Editor 

While attending BAI Beacon in Orlando, Fla., I had the privilege of speaking with three members of the organization’s “Emerging Leaders” program, individuals handpicked by BAI as being among the best new talent to enter the financial sector. Having been selected in previous years, these Leaders now serve as advisors to incoming participants. All three hold various positions at financial institutions of all sizes across the country, but they were uniform in their passion for the industry. Moreover, they did not hold back when it came to discussing what’s missing as banks and credit unions struggle to attract younger employees in a tight labor market.

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The Highs and Lows of Marijuana Banking

By Alaina Webster, Managing Editor

When I was in high school (some indeterminate number of years ago), the idea of legal marijuana consumption was unthinkable. Fast forward a couple decades, and cannabis legalization is not only being talked about, it’s a reality in several U.S. states. However, it’s still not legal federally, and therein lies the rub for many banks and marijuana-related businesses (MRBs).

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How to Play the Name Game

What should banks consider before rebranding with a new name?

By Alaina Webster, Managing Editor

In today’s “always on” environment, many consumers have seemingly unlimited choices, and companies, including banks, often struggle to differentiate themselves from competitors. Rebranding or relaunching can be one way to stand out from the herd, and changing a company’s name is one of the most straightforward approaches. For instance, have you heard of BackRub? You have, actually — you just call it Google. Want a Brad’s Drink to go with your burger and fries? You do if you’re a Pepsi drinker.

Companies rebrand all the time, with varying levels of success, but there are right ways and wrong ways to do it, and the motivation behind the shift can determine the success of an endeavor.

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