#FinancialInstitution

[broadcast2worldtv]

Community Bank, N.A. approached us to bring their origin story to life using a in a unique animated style. Using explainer video production and carefully crafted character animation, we created a short, engaging dialogue between the founders that reflected the bank's 150-year heritage. The animation’s mid-1860s aesthetic gave the story a nostalgic appeal, blending humor and historical detail to celebrate Community Bank’s legacy in a memorable and visually appealing way.

[jayessentialsblog]

GTBank affirms an attempt to breach the domain of a website

A confirmed attempt to breach the domain of Guarantee Trust Bank Plc's website has been made. The bank's management reportedly revealed this in a statement to reporters on Thursday in Lagos, according to NAN. The bank reported that the hacking attempt happened on Wednesday, one day after it had renewed its domain name. As a result, there was a brief outage on the website, preventing users from accessing online services. By pointing out that the bank did not keep client information on its website, it allayed worries about customer data being compromised. The bank stated: “Our attention has been drawn to reports in the media alleging that hackers have seized the bank’s website, cloned it, and intercepted customers’ data. “This led to widespread concern and media reports suggesting that the bank’s website had been cloned, potentially putting customer data at risk. The incident was unsuccessful and its website was not cloned. “While there was an isolated incident of an attempt to compromise our website domain, we would like to assure all our customers and stakeholders that the bank’s website has not been cloned and that we do not store customer information on our website. As such, there has been no instance of compromise of customer data.” The bank claims that its information security specialists are currently working nonstop to restore the domain settings in the near future. Customers were encouraged to be calm and trust in the bank's strong security safeguards as the bank informed them of its unshakeable commitment to protecting their data. It added, “We urge all our customers to please disregard the claims in these media reports and assure you of our unwavering commitment to safeguarding customer data.” Read the full article

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[unpluggedfinancial]

The Rise of Bitcoin Acceptance: A New Era in Financial Innovation

Introduction

Bitcoin, the world’s first decentralized cryptocurrency, has transformed the financial landscape since its inception in 2009. Its journey from an obscure digital asset to a mainstream financial instrument is nothing short of remarkable. This blog post explores the growing acceptance of Bitcoin, highlighting key legislative developments and significant holdings, including those by the U.S. government.

Oklahoma’s Landmark Bitcoin Bill

Oklahoma has made a landmark move by passing a bill to protect Bitcoin rights. Governor Kevin Stitt signed the bill into law on May 13, 2024. Championed by Representative Samuel Brian Hill and Senator Coleman, the legislation establishes key protections for Bitcoin and digital asset holders. Effective November 1, 2024, it ensures fundamental rights for individuals and businesses engaged in digital asset activities, positioning Oklahoma as a leader in the digital economy.

Dennis Porter, CEO and co-founder of the Satoshi Action Fund, highlighted the importance of state-level initiatives, stating, “Americans should wake up to the incredible political opportunity that is available at the state level. Throughout history, multiple movements and industries have utilized the states to deliver powerful victories for their cause. Now, Satoshi Action is poised to put the Bitcoin and digital asset ecosystem onto the same trajectory.”

Key Provisions of the Bill

The bill guarantees the right to self-custody, allowing individuals to securely hold their digital assets. It permits using Bitcoin and other digital currencies for transactions without additional taxes, aligning digital assets with traditional legal tender regarding tax treatment. This aims to streamline the use of cryptocurrencies in everyday transactions and foster a more inclusive financial environment.

Bitcoin Mining Protections

The bill supports Bitcoin mining by protecting the right to mine Bitcoin at home and through commercial operations. Oklahoma hopes to attract more blockchain businesses and investments by ensuring legal clarity and stability. The legislation prevents local governments from imposing restrictive measures specifically targeting mining activities, such as additional noise ordinances, while still adhering to general noise regulations.

Porter emphasized Oklahoma's stance: “Oklahoma has now placed its flag in the ground to show the world that they will protect the right for Bitcoiners to access the technology.”

The bill also stipulates that the Oklahoma Corporation Commission cannot create discriminatory rate schedules for mining companies, ensuring fair utility rates and encouraging sustainable and economically viable mining practices.

Advocacy and Future Impact

Dennis Porter and the Satoshi Action Fund were instrumental in advocating for the bill. They emphasize the importance of self-custody and the right to mine, arguing that these rights are fundamental to financial sovereignty and innovation. The Oklahoma Bitcoin Association, led by Storm Rund, was crucial in passing the bill, with significant contributions from Eric Peterson, Policy Director at Satoshi Action Fund.

When the bill takes effect on November 1, 2024, it sets a precedent for other states. Oklahoma positions itself at the forefront of the digital financial revolution by ensuring legal certainty. This legislation aims to attract blockchain businesses, drive innovation, and create economic opportunities, especially in rural areas. Oklahoma's proactive approach will likely inspire similar measures nationwide, solidifying its role as a leader in digital asset regulation.

U.S. Senate’s Resolution on SEC Crypto Rule

In a significant move on the federal level, the U.S. Senate passed a resolution on May 16, 2024, calling for the Securities and Exchange Commission (SEC) to strike down a rule affecting financial institutions dealing with crypto firms. The resolution nullifies the SEC’s Staff Accounting Bulletin No. 121, which required banks to keep customers’ digital assets on their balance sheets, with capital maintained against them. This rule had been widely criticized for stifling innovation.

“The tally, a stunning 60 ‘Yeas’ in the Senate vote, sends a strong signal that both houses of Congress, across the political divide, clearly disapprove of this rule,” said the crypto advocacy group Blockchain Association.

Despite President Joe Biden's stated intention to veto the resolution to "protect investors in crypto-asset markets and to safeguard the broader financial system," the strong bipartisan support reflects growing political awareness and support for the crypto industry.

Conclusion

The recent legislative developments in Oklahoma and the U.S. Senate's resolution mark significant milestones in Bitcoin's journey towards broader acceptance and regulatory clarity. As Oklahoma leads with protective measures for Bitcoin rights and mining, and as federal lawmakers push back against restrictive SEC rules, the future looks promising for the integration and growth of digital assets in the mainstream economy. These steps not only encourage innovation and investment but also set a precedent for other states and countries to follow in embracing the digital financial revolution.

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[alliance00]

Banking Recruitment Agencies vs. In-House Hiring: Which is Better?

The banking and financial institutions need to hire the most competent individuals to maintain competitive and professional efficiency and compliance processes. In recruitment, businesses have to face a critical choice regarding whether to hire from banking recruitment agencies or hire internally. Each option has its pros and cons, and which one is right for the organization will depend on its requirements, resources, and long-term plans.

Understanding Banking Recruitment Agencies

Banking recruitment agencies deal primarily with recruiting, screening, and placing well-qualified and experienced candidates for banks or financial institutions. Such agencies have a large network of professionals, including executives, analysts, and risk management experts.

Advantages of Banking Recruitment Agencies

Access to a Wealth of Talent Pool: The banks' recruitment agencies boast massive databases of already pre-screened candidates, enabling them to find the right talents as quickly as possible.

Time and Cost Savings: It's like magic, really; recruitment agencies do all the advertisement, screening, and interviewing for you: it's dubbed 'time economy.'

Expert Banking Recruitment: These recruitment agencies know exactly what banking positions need and how the compliance rules and regulations have to be put into consideration.

Decreased Risk: While it is true that agencies possess the ability to ascertain whether any potential candidate has ever been given a thorough background check or assessment, this obviously keeps the risk of employing substandard or fake candidates down to a bare minimum.

Secrecy: If it is a top-level job, the agency will facilitate and make it very confidential from any possible competitors and make sensitive information not visible to them.

Disadvantages of Banking Recruitment Agencies

Higher Recruitment Costs: Usually there is a fee in the form of a percentage of the hired candidate's salary charged by the agency, and thus could become a large dent for smaller institutions.

Less Control Over Hiring: Employers may have limited involvement in initial screening processes, resulting in candidates who are not considered a good fit for the company culture.

Understanding In-House Hiring

Hiring from within means that the internal HR team of the company manages the recruitment process. This could include advertising jobs, screening applications, interviewing candidates, and making job offers.

Advantages of In-House Hiring

More Cultural Fit: HR professionals within the organization have a deeper understanding of the culture of the organization, thus allowing for a better fit between the candidate and the company's work environment.

Less Long-Term Cost: Since the upfront costs of advertisement and HR management are necessary, realistic savings will be made in the long run by avoiding recruitment costs. 

More Control Over the Hiring Process: Employers get to customize their hiring approach according to their various needs without any interference from a third party. 

Stronger Employer Branding: A positive employer brand is created and nourished through direct candidate interaction. This helps in the acquisition of talent for the long term.

Disadvantages of In-House Hiring

Time-Consuming: Internal management of job postings, screening resumes, and conducting interviews can be a lengthy process, thus delaying the hiring process further. 

Limited Access to Talent Pools: In-house HR teams may not have the right exposure to attract passive job seekers or professionals with technical niches, unlike banking recruitment agencies.

Increased Risk of Bad Hires: Without specialized recruitment expertise, key points may get overlooked during client evaluations, leading to mis-hires for in-house HR departments.

Which is the Better Option?

The choice between employing banking recruiters and doing recruitment internally depends on the following factors:

Implement for quick or top hires: Agencies are faster and more accurate placements.

For Talent that is Long-term: Internal hiring is often cheaper and sustainable.

For Specialized Roles: Agencies can provide staffing opportunities that the internal teams may find more difficult to tap into.

For the Maintenance of Culture: Internal recruitment will better align with the company's values and work ethic.

Conclusion:

The banks have evaluated the pros and cons of hiring through recruitment agencies versus direct hiring on their own account. The choice of method will depend on the hiring needs, budget, and long-term employment goals. Recruitment agency processes are more efficient and specialized, while in-house hiring encourages good company culture and proves cost-effective. Banking institutions interested in sustainable talent acquisition should strive for an equitable balance between these two approaches.

For banking or any staffing needs, contact Alliance Recruitment Agency, which offers on-site and remote staffing solutions globally. Contact us now.

[zeynepom3r]

How Serious is Money Laundering in Today’s Financial System? 💰🚨 Hey everyone, With financial crimes on the rise, I’ve been thinking a lot about how money laundering schemes have evolved. It’s crazy how sophisticated some of these operations are—shell companies, smurfing, invoice fraud, even using legit businesses as fronts. What’s even more concerning is how financial institutions sometimes miss the red flags despite strict AML regulations. One thing that really caught my attention recently is how AI and data analytics are being used to detect suspicious transactions. But even with advanced tech, identifying laundering schemes isn’t always straightforward. Risk-based AML strategies seem to be the key, but there’s always the challenge of balancing compliance vs. efficiency in financial operations. I came across this AML training program that dives deep into money laundering methods, risk indicators, and legal frameworks. Thought I’d share in case anyone in finance, banking, or compliance wants to explore the topic further: 🔗 The Full Programme of Anti-Money Laundering (AML) Curious to hear from others—what do you think are the biggest gaps in AML compliance today? Do you think financial institutions are doing enough to combat money laundering, or are criminals just always a step ahead? Would love to hear your insights! #MoneyLaundering #AML #FinancialCrime #Compliance 🚀

MoneyLaundering #AMLCompliance #FinancialCrimePrevention #RiskBasedAML #AIInAML #DataAnalyticsInFinance #FinancialInstitutions #AntiMoneyLaundering #AMLTraining #MoneyLaunderingDetection #AMLRegulations #FinancialCrimes #AMLStrategies #ComplianceChallenges #MoneyLaunderingMethods #AMLProgram #FinancialSecurity #AMLInsights #BankingCompliance #SuspiciousTransactions #FinancialSystems #AMLDetection #FinancialCrimeRisk

[thecryptonewshub]

Franklin Templeton Joins the Race for Solana Spot ETF Approval

Franklin Templeton Enters the Competitive Race for Solana Spot ETF, Following Other Major Firms On February 11, 2025, Franklin Templeton, a leading asset management firm valued at $1.5 trillion, officially joined the growing list of financial institutions vying for approval to launch a Solana spot exchange-traded fund (ETF). The firm filed for the registration of a "Franklin Solana Trust" in Delaware, signaling its commitment to bringing Solana (SOL) into the U.S. market via a spot ETF.

The Solana spot ETF race has heated up, with key competitors including Canary, Grayscale, and 21Shares already submitted applications to regulators. Solana, a blockchain recognised for its high-speed and low-cost transactions, has emerged as a popular altcoin, and its rising market demand has sparked major institutional interest. Franklin Templeton's action represents a further push to include cryptocurrencies into conventional financial products, reflecting the growing acceptability of digital assets in the traditional finance industry. Also Read:  virtuals-protocol-price-prediction-what-to-expect-in-2025-and-beyond A Solana spot ETF would allow investors to gain exposure to Solana without having to hold the cryptocurrency directly, solving concerns about security, custody, and the complexity of owning digital assets. ETFs have become a popular option for institutional and ordinary investors to obtain exposure to a wide range of assets, including digital assets such as Solana. Franklin Templeton's application is indicative of a larger trend in the investment world. The growing popularity of spot ETFs in the cryptocurrency industry demonstrates the need for regulated, easy-to-use financial products that incorporate digital assets, like as Solana. If permitted, Franklin Templeton would become a prominent player in this rapidly growing sector, injecting credibility and institutional finance into the Solana ecosystem. The introduction of Solana spot ETFs could transform the way institutional investors interact with the cryptocurrency market. As blockchain technology evolves and legal clarity improves, more financial institutions are anticipated to enter the field, reinforcing cryptocurrencies' place in mainstream finance. For the time being, the competition is heating up as corporations await approval from the United States Securities and Exchange Commission (SEC). It is unclear whether Franklin Templeton's application will be successful, but their participation in the Solana spot ETF contest represents a big step forward for the digital asset industry. Read the full article

[yourownbank]

The idea of “Becoming Your Own Bank” sounds like something out of a Finance Experts dream—but “Your Own bank book” introduces the concept as a practical, achievable strategy. This book delves into a financial strategy called the infinite banking Concept (IBC), a system that utilizes a specially structured whole life insurance policy to create your very own banking system. In a world where traditional banking leaves little room for individual Financial Autonomy, the vision empowers people to take control of their personal finances, maximize liquidity, and avoid relying on external Financial Institutions.

[sifytech]

Cloud Banking

The cloud ecosystem supports many of the consumer services most people use daily and is increasingly adopted by financial institutions to reduce cost or meet other business needs. Read More. https://www.sify.com/cloud/cloud-banking/

[getreports]

Small Business Banking Sector Market: A Global Powerhouse with US Dominance

Small-business banking is, therefore, absolutely a behemoth globally in serving the financial needs of millions of enterprises. Let us turn our focus to this powerful market being taken into focus by the USA.

Nutritional—Market Size and Growth

The global net market value for small business financial services is likely to rise at a CAGR of 7.2% from 2023 through 2031.

US Market Landscape

With more than 33 million establishments, the US has the highest number of small businesses in the world. Almost 99.9% of all businesses in the US are classified as small businesses.

This vast customer base demands a lot of financial services, including:

Cash and credit management

Trade Finance

Payroll processing

Treasury services

Forecast and Business Opportunities

The future of small business banking looks bright. With the rapid growth of startups, driven by technology and changes in today's workforce, updated financing solutions are needed to accommodate these businesses. Traditional banks have an open opportunity to remodel and refocus offerings around online accessibility and streamlined processes that bring this change into digitalization, which holds great benefit to those institutions capable of meeting the tech-savvy small business owner.

Another area of growing involvement would be the fintech firms, which are able to offer special financial products and services for small businesses.

Competition and Challenges

The small-business banking space thus becomes very competitive due to its sheer size. Traditional banks fight for market share with credit unions, online lenders, and a spate of new fintech startups.

Regulatory compliance

Voluminous ambiguities in regulations are to be steered through by financial institutions and, at the same time, adjudicate efficient services. The small business banking sector is resilient and dynamic. Keeping pace with technological innovation, appealing to the changing needs of small businesses, and maneuvering through the competitive environment, financial institutions can tap the enormous potential vested in this market.

Author Bio -

Akshay Thakur

Senior Market Research at The Insight Partners

[usnewsper-business]

ICBC Hacking Incident: How Financial Institutions Fight Cyber Attacks to Keep Your Money Safe #cyberattacks #cybersecuritymeasures #databreaches #financialinstitutions #ICBChackingincident

[technology098]

Transform lending with Retail Loan Origination Systems - streamline processes, manage risk, ensure compliance

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Nurturing Prosperity: How Financial Institutions Fuel Economic Growth 🌱💼

Hey Tumblr fam! Today, let's delve into the crucial role that financial institutions play in driving economic growth and development. 🚀💰

📈 Capital Infusion: Financial institutions, like banks and investment firms, act as the lifeblood of economies by providing the necessary capital for businesses to grow and innovate. Whether it's funding a startup, expanding a small business, or financing infrastructure projects, they grease the wheels of progress.

🔍 Facilitating Investment: By channeling savings into productive investments, financial institutions help allocate resources efficiently. They connect savers with borrowers, ensuring that capital flows to where it's most needed and has the potential to generate the highest returns.

💡 Risk Management: Financial institutions also play a crucial role in managing risk, which is inherent in any economic activity. Through various financial products like insurance, hedging instruments, and diversification strategies, they help businesses mitigate risks and navigate uncertainties, fostering a conducive environment for growth.

🌐 Global Connectivity: In an increasingly interconnected world, financial institutions facilitate cross-border trade and investment, bridging the gap between different economies. They provide the infrastructure and expertise necessary for international transactions, fostering collaboration and driving economic integration on a global scale.

🌱 Fostering Innovation: Financial institutions often invest in research and development, technology, and innovation, catalyzing advancements across various sectors. Whether it's supporting cutting-edge startups or financing large-scale projects, they fuel the engines of innovation that propel economies forward.

👥 Inclusive Growth: Lastly, financial institutions play a vital role in promoting inclusive growth by extending financial services to underserved communities and marginalized groups. Through initiatives like microfinance, financial literacy programs, and affordable banking services, they empower individuals and businesses to participate in and benefit from economic development.

In essence, financial institutions serve as the backbone of economies, driving growth, fostering innovation, and promoting prosperity for all. Let's continue to recognize and celebrate their invaluable contributions to building a brighter future! 🌟💼

[morningstartranslation]

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