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Domestic money transfer to jump nearly 50%, Juniper forecasts

Payments Dive

Domestic money transfer payments worldwide are likely to jump by about 50% between this year and 2026 to some 300 billion payments, research firm Juniper Research predicted in a report released today.

Payments 221
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Valley Bank to be 100% cloud native by 2026

BankInovation

Valley Bank is looking to move all its operations to the cloud by 2026 to achieve efficiency and scalability. The $61 billion, Morristown, N.J.-based based bank has between 75% and 80% of its operations on the cloud already, Chief Operations Officer Russ Barrett told Bank Automation News.

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Is It Time to Upgrade Oracle?

Perficient

It is fully supported through March 2023, with extended support going through March 2026. Oracle does support version 12.2.0.1 for error correction and patching until November 2020, but also has no plans to provide extended support for it. The current recommended release is 19c. What to Do. If you are on EBS 12.1 and not on 12.1.0.2

Policies 340
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Citi to lay off 10% of workforce through 2026

BankInovation

Citigroup’s restructuring efforts, investment in technology and reduction of overhead costs will result in a loss of 20,000 jobs, or 10% of its workforce, through 2026, the bank said today in its fourth-quarter earnings report.

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FedEx Makes Major Foray Into eCommerce By Buying ShopRunner

PYMNTS

The remarks came as estimates emerged that the global small-parcel market is set to more than double by 2026 to as many as 262 million packages a day. A top FedEx Services executive recently told a trade publication that the parcel-delivery giant sees eCommerce as the major driver of growth in its sector over the next six years.

Chicago 285
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The High Cost Of KYC And AML Security Lapses

PYMNTS

percent: Projected CAGR of the global AML software market as measured from 2019 to 2026. million: Average annual AML compliance spending for Canadian firms with less than $10 billion USD in total assets. 10,000: Number of KYC images from crypto exchange Binance allegedly accessed by a cybercriminal.

Security 192
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A Digital Solution For Every Problem 

PYMNTS

trillion: Estimated value of the digital payment market by 2026. $30 30 billion: Estimated value of the digital payments security market by 2026. Securing all those news services? Well… that can get a little complicated. 141 million: Amount FlyHomes has raised in debt and equity financing.