Pub. 13 2023-2024 Issue 4

Happy New Year. We enjoyed a brief respite for the holidays, but we’re back at it. The State Legislative session started in mid-January and runs through mid-May.

The financial landscape evolves fast, with banks constantly seeking ways to enhance their services, stay competitive, and comply with laws and regulations. One significant challenge they face is the conversion of their card processors — a complex and mission-critical task that can benefit from the expertise of a consulting partner.

The latest final rule on beneficial ownership information (BOI) reporting gives financial institutions and their business clients more details about what’s required. Here’s a rundown of what’s behind the new rules, the latest BOI registry details and how anti-money laundering (AML) programs can prepare.

John Berkhausen President of Commercial Banking, Adams Bank & Trust How did you get started in the banking industry?I was a law student at Creighton University and realized I did not want to practice law as a career. At that time, I decided to pursue an MBA concurrent with my law degree and focused my

The day-to-day functions of a financial institution would be impossible without the ability to outsource.

Banks today are facing an increasingly challenging environment. The aftermath of recent bank failures has impacted business confidence, leading to a shift in customer loyalty, with many moving their business banking to larger institutions.

2023 was a wild ride. Many banks came under stress after 500 basis points of rate increases. Investors and depositors worried about unrealized losses and withdrew their capital and liquidity, leading to a small number that failed.

Whenever a new election cycle comes along, it’s not uncommon to hear pundits make mention of “red waves” or “blue waves,” denoting potential power swings in Congress. But as bankers contemplate the future of our country and the policy environment that will shape the future of our industry, there’s another wave that we need to talk about: a tsunami of complex regulation that is hitting the banking sector as we speak.

Hook and chain ATM/ITM attacks and resulting losses have skyrocketed in the Western U.S. over the last year.

Your core processor is the heart of your data management and function. Its efficacy directly impacts service quality, operational efficiency and regulatory compliance. Having the right core processor lays the foundation for a successful digital transformation journey — its choice calls for strategic consideration.