Thu.Aug 08, 2024

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US credit card balances climb to $1.14 trillion

Payments Dive

Consumer credit card debt delinquencies are also on the rise, particularly among younger consumers, according to a New York Federal Reserve report.

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‘MapQuest Mode’ Is Blocking the Rewards of Commercial Loan Origination Systems

Gonzobanker

The good news: 5 key steps can get banks and credit unions on the road to recovery. In my younger days (think post-cave drawing but pre-smartphone), my friends and I used MapQuest for navigation. Does anyone remember MapQuest? Once we fed our destination into the website on our PC, we had to print the turn-by-turn directions plus the map on paper! Compared to today’s smartphone apps, the MapQuest website was seriously clunky.

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Payoneer targets growth with more acquisitions

Payments Dive

CEO John Caplan is eyeing accounts payable acquisitions after refocusing the cross-border payments company on the business-to-business market.

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Truist lands Wells Fargo tech leader as CIO

BankInovation

Truist is tapping Wells Fargo CIO of Consumer Technology Steve Hagerman to fill its chief information officer role. Hagerman was the “right person at the right time for our enterprise technology team,” a Truist spokesperson told Bank Automation News, noting that selecting a new CIO was a “thorough process.

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Back to Basics with Reconciliations

Join us in this webinar, where we share best practices on how to think about the reconciliation work each month, when best to do reconciliations, how they should be prepared, and some common pitfalls to avoid. Learning Objectives: This course objective is to understand how to properly prepare and review balance sheet reconciliations and its impact on the financial statements.

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ICX Summit: CX leaders offer up retail customer experience predictions

ATM Marketplace

Top retail and brand leaders will share executive predictions when it comes to improving the customer experience at the upcoming ICX Summit happening Sept. 9-11 in Charlotte, North Carolina.

More Trending

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Barclays becomes first UK bank to lift cap on bonuses

TheGuardian

Memo to staff reveals dropping of restriction, allowing payouts worth up to 10 times bankers’ salaries Barclays has become the first UK bank to formally lift the cap on bankers’ bonuses originally imposed by the EU, opening the door for staff to receive 10 times their salaries in payouts. The announcement was made through an internal memo to staff on Thursday, four months after shareholders at Barclays’ AGM approved the move to drop the measure, which previously limited bonuses to two times bank

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The Purr-suit Of Happiness: How Cats Can Boost Your Mental Health And Finances

BankBazaar

Does the pursuit of happiness feel as elusive as a cat chasing a laser pointer? Discover how your feline friend can be your secret weapon for both mental and financial well-being. From stress relief to savvy saving, this purr-fect guide will transform your life, one cat nap at a time. Let’s face it, life can be a real ball of yarn sometimes. Between work stress, financial worries and the never-ending quest for the perfect avocado toast recipe, it’s easy to feel overwhelmed.

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How the Olympics are jolting payments technology

American Banker

Visa, which leans on sports festivals to showcase emerging shopping and checkout features, says contactless transactions from travelers have jumped during the games.

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Marqeta’s total processing volume up 32% YoY to $71B

BankInovation

Payments fintech Marqeta saw growth in its total processing volume during the second quarter as consumer demand for non-traditional banking and digital banking channels increased.

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How a Managed Services Partner Can Reduce the Friction in Your RDC Program

Treasury teams at community banks face an ongoing challenge of delivering frictionless customer experiences as they support treasury products – especially RDC. This infographic focuses on the efficiencies community banks gain when partnering with a proven managed services provider. You’ll see the advantages you can gain when a managed services partner leverages online tools, skilled customer and technical support personnel, and fulfillment and logistics capabilities to streamline RDC fulfillment

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Uninsured deposits, not brokered deposits, led to 2023 bank failures

American Banker

The Federal Deposit Insurance Corp.'s focus on implementing stricter control over brokered deposits is misguided, a former chairman on the agency writes, and misses the real lessons of 2023's bank failures.

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StanChart invests in fintech M&A company, joining Citi, BNP

BankInovation

Standard Chartered Plc will take a stake in United Fintech Group, becoming the fourth large bank this year to invest in the London-based company as it negotiates new acquisitions to serve the capital markets industry. Standard Chartered will get board observer rights and may later receive a rotational board seat, the two companies said on Thursday.

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Australian Banks to launch CoP Anti-Scam Service

The Paypers

Australian banks, led by AP+ and ABA , have announced the launch of Confirmation of Payee service by 2025, enhancing security by verifying payee details before payments.

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TD cautious about consumer-facing AI

BankInovation

TD Bank is taking a conservative approach to AI for consumer-facing operations as it taps the tech for back-end efficiencies. “We are very knowledgeable about the benefits of the AI and what that might bring,” Christopher Fred, head of U.S. credit cards and unsecured lending at TD Bank, told Bank Automation News.

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Budget Playbook for Commercial Lenders — Bank and Credit Union Edition

Amid market uncertainty, banks and credit unions are faced with critical decisions about the future of their commercial lending. With fluctuating interest rates and rising competition from non-bank lenders, it's critical to allocate your 2025 budget strategically to optimize lending operations. Our Budget Playbook for Commercial Lenders delivers key strategies to help you navigate these challenges, ensuring your institution is well-positioned for the coming year.

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Green Dot's earnings and revenue beat analysts' estimates

American Banker

The prepaid card company reported strong results following a government settlement over alleged unfair business practices.

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Stripe introduces no-code adaptive pricing

The Paypers

US-based financial infrastructure platform Stripe has announced the launch of a no-code adaptive pricing solution to support users in offering buyers their preferred local currencies.

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Political bluster threatens the Fed's 'vibes-based' independence

American Banker

As the 2024 election season once again puts the Federal Reserve's independence under a microscope, some observers see a weakness in one of the landmark policy arrangements that undergird the financial system as we know it.

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Payoneer acquires startup Skuad for USD 61 mln

The Paypers

US-based fintech Payoneer has recently announced the acquisition of Singapore-based global HR and payroll startup, Skuad , for USD 61 million in cash.

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It Takes Two to Tango

With automation, you’ll reduce errors and save valuable time, allowing you to focus on what really matters: strategic analysis and insightful decision-making. Picture accurate financial reports ready at your fingertips, giving you the confidence to tackle business challenges head-on. Embracing automation not only boosts productivity but also elevates your role from number cruncher to closing rockstar.

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Fed dings top midsize bank over money laundering concerns

American Banker

The Federal Reserve Board issued an enforcement action against Customers Bank, citing compliance deficiencies related to its digital asset strategy and instant payments network.

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SUNRATE teams up with Outpayce from Amadeus

The Paypers

Asia-based B2B digital payments platform SUNRATE has entered a collaboration with Outpayce from Amadeus to optimise the payment experience for travel companies.

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Market turmoil aside, 'talk of doom and gloom overstated' for banks

American Banker

The stock swoon of early August, however, raises red flags and could delay an anticipated rise in loan demand for banks in need of stronger interest income, analysts caution.

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Stripe and Bitstamp to expand crypto on-ramp in Europe

The Paypers

Payments processor Stripe has joined forces with crypto exchange Bitstamp to to enhance EU crypto access and enable seamless fiat-to-crypto conversions.

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The 2024 Lenders Guide to Automating the Complex Loan

Download the latest edition of GoDocs' "The Lender's Guide to Automating the Complex Loan." This comprehensive guide offers financial institutions valuable insights into document automation for complex commercial loans. It unpacks the intricacies of complex loans and showcases how an automation platform like GoDocs — the leading commercial loan closing platform — delivers impressive benefits and ROI to any FI.

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Ripple's $125 million fine brings little clarity to crypto

American Banker

Unless the SEC appeals, a New York judge's decision brings an end to the regulator's four-year battle with the crypto company. But it leaves questions over the legality of crypto unanswered.

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Royal Air Maroc collaborates with Amadeus

The Paypers

Royal Air Maroc has partnered with Amadeus to advance its strategic digital transformation efforts, which are part of a comprehensive development plan.

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Banks rebuff FHFA inquiry into the Federal Home Loan Banks' mission

American Banker

The Federal Housing Finance Agency wants to update the dual mission of the Federal Home Loan Banks. Members of the private bank cooperative say their regulator has no authority to redefine the mission.

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Lucky One secures USD 3 million in funding

The Paypers

Egypt-based fintech company Lucky One has announced that it secured USD 3 million in funding, aiming to leverage the capital to further expand its discounts and credit platform.

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Confronting the Change Challenge

Change is difficult, whether in our private or work life. However, without change, growth and learning are difficult not to mention keeping up with the market and staying competitive. We have all worked for or ourselves are the bosses that prefer to keep the status quo. We will discuss how to address the "change challenge" to enable you to be a changemaker and a graceful recipient of change.