American Banker

How many jobs will Klarna cut because of AI? And what is Walmart up to in India? That and more in our weekly global payments roundup. https://bit.ly/3Z4ggoJ

The leaders at the helm of the nine credit unions that make up this asset class have been with their organizations for an average of 15.7 years, which is the highest percentage of all the categories measured in this year's Best Credit Unions to Work For ranking. Other notable statistics include 100% of institutions keeping overtime at a minimal to nonexistent level for a healthier work-life balance for employees, matching team members' contributions to retirement plans and employing ongoing diversity training. #creditunions #bankingindustry

Bank of America, JPMorganChase, Citi, Wells Fargo, and Charles Schwab are among the banks with the largest securities portfolios as of March 31. Read the rankings to find out how the leaders fared. https://bit.ly/4e0F59p #banking

Hiring new talent is an essential part of building a business that endures. So, why are many managers content to tolerate a hiring process that drives talented individuals away? asks Dave Martin, of BankMechanics, in American Banker’s BankThink.https://bit.ly/3XoJjCt

Fed Gov. Christopher Waller has significant reservations about U.S.-based faster payments networks that are being set up in dozens of countries around the world. "Not all frictions that slow payments down are bad," Waller said Wednesday at an financial technology conference in India. "Certain frictions are purposely built into the global payment system for compliance and risk-management reasons." #banks #bankingsector #Fed https://lnkd.in/gN3KfjqC

AI will impact everyone. Flywire's Aimee Shumaker, Troy Group's Brooke Turner and others discuss gen AI and the future as part of American Banker's Most Influential Women in Payments:Next feature.

See the next generation of leaders in payments; First Busey to acquire CrossFirst Bankshares; NY regulator fines Panama Papers-linked Nordea bank; what Telegram's policies permitted; and more in today's newsletter.

More Canadian bank earnings! RBC has some surprises. Check out American Banker throughout the day for updates.

Chosen organizations are selected through two surveys in conjunction with the Best Companies Group. The first, which is filled out by an applicant's employees, gauges their perspective on eight different categories like role satisfaction, work environment and overall engagement. The second survey filled out by the employers looks at the benefits and internal policies of each credit union. Roughly 94% of employees working at companies that made this year's ranking responded that they are satisfied with their working conditions, and 95% saying they felt safe in this environment. Responses of staff members from organizations that didn't make the list to the same prompts were 91% and 94% respectively.

The profit decline at Scotiabank follows tepid economic growth in Canada, where consumers have pulled back more and unemployment has risen quicker than in the United States. Scotiabank recently announced a U.S. expansion by taking a large stake in KeyCorp.