Common Cents: March

We're almost one quarter into 2024... but at least the days are getting longer, right??

Ever wondered what you'd do if $1B was dropped in your lap to use however you'd like? Last week, Ruth Gottesman was left with Berkshire & Hathaway stock to use however she felt was right. As the board chair and a former faculty member of the Albert Einstein College of Medicine, she made the school entirely tuition free for all students. This was the largest donation ever made to a US medical school.?

Credit Scores: Important for your FI... and dating??

Should we be nervous about credit score "grade inflation"? Government assistance and paused credit practices boosted credit scores during the pandemic, with the average credit score now running at about 701 for six consecutive months since July. But should FIs take steps to not get drawn in by those temporarily high numbers? It's complicated, and the article is here.?

Nothing says "love" like a 675+ credit score. Score is a new dating app exclusively for people with good to excellent credit. Launched by financial platform Neon Money Club, Score seeks to help raise awareness about the importance of finances in relationships.?

Have TCRs? You'll need this.

?If your team is starting to have conversations about your TCR (teller cash recycler) replacement project... stop where you're at.?

Your team could be throwing money away by replacing the wrong TCRs... or even purchasing more than you need. This worksheet will take you through the right questions to ask, and the metrics to pay attention to, when creating your TCR replacement strategy.?

Save yourself the headache (& some money) and download this free workbook!

The biggest acquisition deal so far in 2024 is underway?

Capital One agreed to buy Discover in a $35B all-stock deal. Not too shabby, eh? The transaction is expected to be completed in late 2024 or early 2025, assuming it passes antitrust reviews and win shareholder approval.??

Introducing the Common Cents Podcast

Prefer to have your news read to you? Want to hear stories from banking and fintech leaders making moves in the industry? We are proud to announce our brand spankin' new Common Cents Podcast! Listen and subscribe on Apple Podcasts, Spotify, or the app of your choice.

AI is still the hottest thing around?

According to JPMorgan CEO Jamie Dimon, AI is NOT a hype. We feel like most of us already kind of knew this... but JPMorgan is setting the record straight that AI is definitely not a drill. They're making plans to eventually leverage AI in almost every job function across their company, introducing the role of Chief Data & Analytics Officer, in part to handle AI.?

AIs and APIs... match made in heaven? With the rapid pace of technological advancements, understanding the impact and potential of AI and API integration is crucial for FIs looking to thrive in the digital age. This article delves into the benefits, trends, challenges, and possibilities of AI and API synergy.?

Tour de conferences: March lineup

Heading to one of these events??

If you're planning on attending any of these events, we'd love to see some friendly faces. Come say "hi" when we're in the same zip code!

Deepfakes are targeting employees?

You thought a typo at work was bad? Try paying out $25M to a fraudulent CFO. A finance worker at a multinational firm was joined on a video call with multiple people who they believed to be members of staff... but were actually all deepfakes. The "colleagues" looked and sounded just like the real individuals, so the finance worker remitted a total of $25.6M. Though companies have already been taking great measure to protect against phishing emails, this introduces an entirely new area of concern when it comes to company safety.?

Chuck Fagan and Pat Ghilani join Kinective Board of Directors?

We are beyond thrilled to announce the addition of two new board members: Chuck Fagan, President & CEO of PSCU/ Co-op Solutions, and Pat Ghilani, CEO at MRI Software. Read the full release here.?