Lauren Costello

Banks hate when regulators treat them as guilty until proven innocent. Many report feeling like children being scolded rather than collaborative partners. But you know what’s funny? Most sponsor banks turn around and treat their fintechs partners the same way. Do sponsor banks say “here’s the standard of how we expect you to run an AML program?” Not always. They say “show us your policies and procedures and we’ll tell you if they meet our standards.” Sound familiar? Why do banks do the same thing that’s not working between them and regulators, then expect a different result? Perhaps, because there’s no precedent for it. Yet, sponsor banks have the power to break that cycle and treat fintechs like the collaborative partners they are which can be a very powerful alliance indeed!

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Gearing up for day 2 of #FISEmerald? Check out tomorrow's session highlights! We’re getting ready for a jam-packed day tomorrow, full of dynamic sessions to help you better understand the #banking landscape. 🙌 Which one are you looking forward to the most?

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⚡ September Surge: Your Golden Opportunity to Land a Job Before 2025 September isn't just pumpkin spice season 😋 —it's the start of what's known in the recruiting world as the "September Surge." After a summer slowdown, companies ramp up their hiring efforts, eager to fill roles before the end of the fiscal year. TIME TO SHINE FOLKS! 🌟   So, how can you take full advantage of September Surge? Here’s a timeline to help you strategically navigate the month and land a job before 2025:   💡 Week 1-2: Refresh & Refocus Update Your Resume and LinkedIn: Tailor your resume to highlight recent achievements and ensure your LinkedIn profile showcases your skills, endorsements, and an engaging headline. See my post on attracting recruiters. Identify Target Companies: Research and create a list of companies actively hiring in your industry. Ensure that the company's values align with yours. Network: Reach out to connections, attend virtual events, and conferences, and join industry-specific LinkedIn groups to get your name out there. I attended Afrotech when I was searching for my next remote role last year. My network grew exponentially! 💡 Week 3: Apply with Precision Customize Each Application: Don’t use a one-size-fits-all approach. Tailor your cover letter and resume. Yes, I know it is a pain, but this is the month you should do it anyway! Leverage LinkedIn: Consider reaching out to recruiters or hiring managers directly with a brief, compelling message. Be kind, be memorable, be brief! Follow Up: After submitting applications, follow up with a polite email to express your continued interest if you can. 💡 Week 4: Ace the Interviews Prepare for Interviews: Research common interview questions for your role, practice your responses, and prepare questions to ask the interviewer. Use ChatGPT to help you practice. Prompt it to pretend to interview you for specific roles. Mock Interviews: Conduct mock interviews with a friend or career coach to polish your delivery. 💡 Week 5: Negotiate and Secure Review Offers Carefully: If you receive offers, take the time to evaluate them thoroughly. You do not have to accept same day! Negotiate: Don’t hesitate to negotiate salary and benefits. Companies expect it, and it’s your last chance to ensure the offer meets your needs. Always NEGOTIATE YOUR SALARY!!   The September Surge is real, and it’s happening right now. By staying proactive, focused, and strategic, you can land a job before the end of the year. Don’t miss this prime opportunity to advance your career!   📌 I’m Victoria, a Risk Management professional, remote work advocate, and solopreneur. I share tips on landing your ideal remote job, building passive income streams, and staying Out Of Office forever!   📌 Follow me and subscribe to The Out of Office newsletter—your ticket to a life of freedom, flexibility, and fewer days in your cube!   #JobSearch #SeptemberSurge #CareerGrowth #Hiring #JobOpportunities #LinkedInTips #CareerDevelopment #OutOfOffice

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Today's reminder is to keep your credit frozen as a default setting with Equifax, Experian, and TransUnion. It's free and it's quick to put in place on each of the three credit reporting agencies' websites. You can lift it for when you need to open a new credit line and then re-freeze it again. It's not enough to only do credit monitoring and to rely on your credit cards' fraud departments to catch fraudulent charges. A #credit #freeze will prevent someone from opening credit in your name, which can do a lot more damage than a fraudulent charge at a gas station. Victims of #identity #fraud can spend years cleaning up the results of #identity #theft. Your personal data likely has been breached more than once this year already. I know mine was, most recently by a Bar Association, which apparently couldn't afford encryption. Don't wait. Freeze your credit today.

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Proactivity is key to fraud prevention. Kausar Kenning of Visa and host Charles Potts talk about the latest scams, why fraud increases toward the end of the year, and how community banks can fight it in the latest #IndependentBanker Podcast: https://lnkd.in/g5ifi7c4

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How are banks and credit unions going from black-box algorithms to auditable insights? With Explainable AI. Learn about the regulatory pressures facing consumer banking institutions, and how the right tools and a well-governed architecture can optimize customer-facing applications and support explainable AI decision-making. Read the full article here: https://lnkd.in/ghnxTiKx #aireadiness #datatoaction #explainableAI

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Such a rich and interesting conversation today with Somi Kim! She shares many tips here about envisioning and designing a future path after a major transition. Take a listen. The Quorum Initiative #womenleaders

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💡Did you know that May is Mental Health Awareness Month? Recently, I had the opportunity to share my thoughts through Bank of America's Intergenerational Employee Network on how millenials and future generations are reshaping the conversations around mental health in the workplace. As we continue to expand these conversations around #mentalhealthawareness, we must remember that mental health is just as important as physical health. In the workplace and beyond, it's crucial to prioritize mental well-being and create supportive environments where everyone feels #valued and heard. Let's #breakthestigma surrounding mental health by fostering open conversations, promoting #selfcare practices, and providing #resources for support. Together, we can build a culture of compassion and understanding that #empowers individuals to seek help when needed and thrive both personally and professionally. 🧠💚 #MentalHealthAwarenessMonth #WellnessMatters

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Skip-a-pay loan payment deferral programs are increasingly becoming an option for credit unions that are looking to help struggling members and bring in additional fee income at the same time. Jim Adkins, managing partner at credit union consultancy Artisan Advisors, LLC, said skip-a-payment programs will increase interest income for credit unions due to the fact that principal balances will remain higher than they would have been, and there will “no doubt” be an increase in fee income because credit unions charge a fee for the service. “Credit unions have to develop strict rules for a skip-a-payment program so that the product is not abused and winds up hiding delinquencies,” Adkins said. “And credit unions need to pay close attention to the compliance rules surrounding the product. The disclosure rules for open-end credit differ from the disclosure rules for closed-end credit, so an in-depth review of the credit union's skip-a-payment program and the compliance requirements is recommended.” https://lnkd.in/eK8ab5cN

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Financial institutions are struggling to meet Gen Z where it is, with products, experiences, and messaging that resonate with the younger set. That can change if FIs can think more creatively around data, personalization, inter-generational marketing, and other acquisition strategies. Mahesh Raghavan, Associate Managing Director of Strategy at Publicis Sapient, shared some strategies for financial firms, at the Tearsheet Gen Z Symposium held recently in NYC, aiming to develop services and products that resonate effectively with the Zoomer demographic. Raghavan highlighted five key strategies that fewer fintech companies like Greenlight are effectively using to engage with the Gen Z demographic, which traditional firms are not fully leveraging. Listen to the full discussion: https://lnkd.in/dcg8stE5 #genz #financialservices #untappedstrategies

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Creating a workplace that truly works for all requires trust and adaptability. Synchrony continues to prioritize our people. We've cultivated a culture built on trust where continuous employee listening fuels innovation. Our hybrid work model is here to stay and it's driving real results. Our CEO, Brian Doubles, shares more with Fortune on how flexibility boosts productivity, empowers our teams, and helps us all deliver peak performance for our customers, our partners, and each other. Discover why we're prioritizing choice and flexibility. #futureofwork #SynchronyLife

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American Express fraud prevention: "Can we please have your FULL social security number to verify your identity?" Me: horrified, and years of fraud and scam prevention training kick in, immediately hang up phone. Also me: gets physical American Express card to look-up 1-800 number for AMEX customer support. Call back AMEX customer support. Spend 5 minutes figuring out support tree to reach American Express fraud prevention. American Express fraud prevention gets on the phone: "Can we please have your FULL social security number to verify your identity?" Me: WTF? Seriously AMEX, you want more people scammed? Please don't do this. Verify with last 4 of SSN and last 4 of phone if you must. You already have it on file, don't make us shout it out in a busy airport or... just in general. Sheesh.

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The FFIEC released the 2024 Census flat file, which incorporates the boundary changes from OMB Bulletin 23-01. Be sure to follow ComplianceTech on Linkedin to find out when the new data are incorporate into LendingPatterns™, an an easy-to-use HMDA analysis solution with the power and flexibility to generate custom market analysis reports and identify fair lending risks related to underwriting, pricing, redlining, and steering, compared to peers.

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Are your employee resource groups supporting employees with disabilities? I spoke with Athena Villarreal at Navy Federal Credit Union about the bank's efforts to support employees with its Diverse Abilities Network. She shares these key tips for starting your own group: 1. Collaborate with HR & operations 2. Ensure privacy with clear confidentiality guidelines for ERG meetings. 3. Include perspectives of employees with disabilities. 4. Secure support from top leaders. 5. Mind the details to promote accessibility. 6. Start small with observances and events and use feedback to grow. See the full article: https://lnkd.in/gPtDYKmU #WorkplaceCulture #GPTW4ALL

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Direct Federal Credit Union is redefining what it means to be a community-focused, local financial institution. Discover how they’re making banking more accessible and personalized for their account holders. #LocalBanking #TechDriven #DigitalTransformation

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1. Netflix and Personalized Recommendations 🎥📊 Netflix's success is largely attributed to its ability to track user viewing history and recommend content that aligns with individual preferences. This personalized approach has led to increased user engagement and retention. ➡️ Tracking user behavior is crucial for delivering relevant and valuable experiences. #NetflixSuccess #Personalization #DataDriven 2. Amazon's "Frequently Bought Together" Feature 🛒🤝 By analyzing user purchase data, Amazon identifies products that are often purchased together. This feature suggests complementary items to customers, increasing the likelihood of additional purchases. 🔀 Tracking user behavior can uncover hidden opportunities for cross-selling and up-selling. #Amazon #ECommerceStrategy #DataInsights 3. Uber's Surge Pricing 🚖📈 Uber's dynamic pricing model adjusts fares based on demand and availability. By tracking user location, time of day, and other factors, Uber can optimize pricing to balance supply and demand. ⏲️ Real-time tracking can enable businesses to make dynamic adjustments to their operations based on changing conditions. #UberTech #RealTimeData #DynamicPricing 4. Coca-Cola's Freestyle Vending Machines 🥤📋 Coca-Cola's Freestyle machines track user selections, allowing the company to identify popular flavors and adjust product offerings accordingly. This data-driven approach ensures that the machines are stocked with the most in-demand beverages. 💯 Tracking user behavior can help businesses optimize product offerings and inventory management. #CocaCola #Innovation #DataOptimization 5. Spotify's Discover Weekly Playlist 🎧🎶 Spotify's algorithm analyzes user listening habits to create personalized playlists. By tracking user preferences, Spotify can introduce new artists and songs that users are likely to enjoy. 💥 Understanding user behavior can lead to the discovery of new opportunities and the introduction of innovative products or services. #Spotify #PersonalizedExperience #TechInnovation ✨ Interested in leveraging these strategies for your credit union's success? Strum Platform's integration features enable credit unions to monitor user behavior and campaign performance in real-time. 💡 This capability helps credit unions create personalized experiences, streamline operations, and uncover new growth opportunities. 📩 To learn more, drop me a line at [email protected] #CreditUnionGrowth #StrumPlatform #DataAnalytics #Innovation

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