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BankNews.com

Will AI Help Wall Street or Main Street?

By David Sosna

Up to a third of the jobs in the United States could be replaced by automation by 2030, according to a recent report from consultancy PwC. Statistics such as these have caused fear in many quarters – particularly in the manufacturing, automotive and retail sectors – where replacing repetitive human tasks with some form of artificial intelligence often boosts productivity for business owners at the expense of workers. This is backed up by a recent report from the Cornerstone Capital Group that revealed robots could threaten another 6 million retail jobs.

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NBA Bankers Association Establishes Disaster Relief Fund

As devastation from the recent flooding continues to ripple through communities across the state, the Nebraska Bankers Association has begun working closely with local banks and Nebraska United Way to establish the Bank on Nebraska Strong fund to assist in recovery efforts. This fund has been selected with a $50,000 initial contribution from the NBA.

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Indiana’s German American Bancorp to Acquire Citizens First in Kentucky

Jasper, Ind.-based German American Bancorp Inc. and Citizens First Corp. of Bowling Green, Ky., have entered into a definitive agreement to merge Citizens First in German American. Upon completion of the transaction, Citizens First’s subsidiary bank, Citizens First Bank Inc., will be merged into German American’s subsidiary, German American Bank.

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BancorpSouth Bank Announces Florida and Texas Acquisitions

Tupelo, Miss.-based BancorpSouth Bank announced definitive agreements to acquire Summit Financial Enterprises Inc., the parent company of Summmit Bank, N.A., in Panama City, Fla., and Van Alstyne Financial Corp., the parent company of Texas Star Bank in Van Alstyne, Texas. Pursuant to the agreement, the two banks will be merged into BancorpSouth Bank.

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Payments Innovations and Implementations Should Put CX First

Payments have transformed from a simple exchange of currency to the facilitator of more secure and seamless shopping, buying and traveling experiences, industry executives shared last week at Secure Technology Alliance’s 12th Annual Payments Summit. The Summit, held jointly with the U.S. Payments Forum Member Meeting, brings together industry experts looking to find new ways to overcome challenges impacting the adoption, security and usability of emerging and developing payments technologies.

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Millennial Use of Chat Apps to Reach Wealth Managers Increases in Asian Markets

Almost 40 percent of millennials in Asia-Pacific were contacting their wealth managers via a chat application in Q2 2018, a 10 percentage point increase since 2017, says GlobalData, a data and analytics company.

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