TheGuardian

NOVEMBER 9, 2023

Historian and Sapiens author says sophistication of technology makes it difficult to forecast its dangers Artificial intelligence could cause a financial crisis with “catastrophic” consequences, according to the historian and author Yuval Noah Harari , who says the technology’s sophistication makes forecasting its dangers difficult. Harari told the Guardian a concern about safety testing AI models was foreseeing all the problems that a powerful system could cause.

System 111

System Technology 111

Payments Dive

NOVEMBER 9, 2023

Consumer Financial Protection Bureau supervision “levels the playing field” in buy now, pay later, Affirm’s CEO Max Levchin said Wednesday.

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416

SWBC's LenderHub

NOVEMBER 9, 2023

In our modern, digital world, the financial landscape is evolving—and fast. Today’s money moves at the speed of the Internet, which means banking isn’t what it used to be.

Digital Banking 148

Digital Banking 148

Payments Dive

NOVEMBER 9, 2023

Fidelity National Information Services disclosed that its board has formed a committee and hired an independent counsel to review demands tied to a stockholder lawsuit.

National 386

National 386

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CFPB Monitor

NOVEMBER 9, 2023

The Federal Trade Commission recently announced that it has entered into a settlement with Bridge It, Inc. (“Brigit”), the operator of a personal finance mobile application, to resolve the FTC’s allegations that Brigit engaged in unfair and deceptive acts or practices in violation of Section 5 of the FTC Act and engaged in conduct that violated the Restore Online Shoppers’ Confidence Act (“ROSCA”). .

Operations 78

Operations Mobile Online 78

CFPB Monitor

NOVEMBER 9, 2023

The CFPB recently issued a policy statement in which it provided a framework for determining what constitutes abusive conduct under the CFPA. After reviewing the definition of abusive in the CFPA and the historical background of the adoption of an abusive standard in the CFPA, we examine how the policy statement addresses each element of the abusive standard and share our observations as to the policy statement’s implications. .

Policies 78

Policies 78

BankInovation

NOVEMBER 9, 2023

Netherlands-based ING Bank has identified AI and analytics as a critical priority as digital usership ticked up in the third quarter. The $967 billion bank is looking to implement generative AI for coding and within its contact centers, Bahadir Yilmaz, chief analytics officer at ING, told Bank Automation News.

Analytics 74

Analytics 74

American Banker

NOVEMBER 9, 2023

Speakers at DC Fintech Week highlighted ways forward for regulators to keep pace with artificial intelligence, such as by setting up "guardrails" before guidelines.

Regulation 85

Regulation DC Guidelines Innovation 85

BankInovation

NOVEMBER 9, 2023

Jack Henry continued to prioritize its tech modernization strategy during its fiscal first quarter as it worked to bring its solutions onto the cloud-based Jack Henry Platform, creating consistency across its product offerings.

Strategy 69

Strategy US Innovation 69

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American Banker

NOVEMBER 9, 2023

The Cincinnati-based bank, which purchased a solar lender last year, is facing an investigation from 17 state attorneys general over the acquired company's lending practices and contractor network. One solar panel installer has gone bankrupt and faced complaints across the country.

Lending 78

Lending Company Compliance Regulation 78

BankInovation

NOVEMBER 9, 2023

JPMorgan Chase & Co. is working with US regulators and walking them through its first set of generative AI pilot projects to ensure all controls are in place, as the bank attempts to bound ahead of rivals in deploying artificial intelligence in the highly-regulated industry.

Regulation 69

Regulation US Industry 69

American Banker

NOVEMBER 9, 2023

In tests run by Corporate Insight, generative AI-based bots like OpenAI's ChatGPT and Google's Bard generally answer questions better than banks' virtual assistants do.

Google 74

Google Technology 74

The Paypers

NOVEMBER 9, 2023

UK-based Open Banking payments network TrueLayer has announced the availability of its payments app in the Shopify App Store.

Payments 81

Payments 81

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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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American Banker

NOVEMBER 9, 2023

Changes being considered by the Federal Housing Finance Agency would make liquidity more expensive and complicated to obtain. But first, those reforms will have to overcome the political power of a wide range of financial institutions that benefit from the status quo.

Policies 80

Policies Compliance Regulation 80

The Paypers

NOVEMBER 9, 2023

US-based grocery tech company Instacart has taken steps to allow their customers to use their FSA and HSA cards at checkout.

Payments 65

Payments US Cards Company 65

American Banker

NOVEMBER 9, 2023

Los Angeles-based Lendistry — in less than two years — became the largest Black-run 7(a) lender. Its CEO credits a concerted effort by the Small Business Administration to reach out to minority lenders and businesses, whose participation in the lending program is growing.

Los Angeles 69

Los Angeles Lending Fintech Community Bank 69

The Paypers

NOVEMBER 9, 2023

Silverflow has announced its partnership with Mastercard in order to expand its solutions for customers in Singapore and go live in the APAC payment market.

Marketing 45

Marketing Payments 45

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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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American Banker

NOVEMBER 9, 2023

Roy and Bertrand Sosa have retaken control of Netspend to combine it with their other firm, Rev Worldwide, to build the companies into an international financial services provider.

Marketing 60

Marketing Company Cards Payments 60

The Paypers

NOVEMBER 9, 2023

Global payments network Neema has partnered with ThetaRay in order to optimise AML transaction monitoring and sanction screening with AI-powered technologies.

Technology 41

Technology Payments 41

American Banker

NOVEMBER 9, 2023

The proposal fails to account for the needs of small and medium-size businesses, which depend on banking data connectivity to keep their operations running.

Operations 45

Operations Data Compliance Lending 45

The Paypers

NOVEMBER 9, 2023

France-based Embedded Finance platform Swan has announced its expansion into the Netherlands and the launch of localised Dutch accounts.

45

45

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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.

Lending

American Banker

NOVEMBER 9, 2023

Singapore's third-largest lender is again banking on a blockbuster concert partnership to boost fee income, fresh on the heels of its success with Taylor Swift concert tickets.

Cards 36

Cards Payments 36

The Paypers

NOVEMBER 9, 2023

US-based accounts payable (AP) provider AvidXchange has teamed up with AppFolio to provide real estate customers with streamlined invoice processing, approvals, and payments.

US 36

US Payments 36

American Banker

NOVEMBER 9, 2023

The release of ChatGPT a year ago prompted banks to hire for AI-related positions and begin testing uses for generative AI, which can summarize documents, write emails and churn out clever responses to users. JPMorgan is hiring and moving more aggressively than most banks.

Regulation 36

Regulation Industry 36

The Paypers

NOVEMBER 9, 2023

Germany-based crypto-banking platform Bitwala has relaunched its operations through a partnership with Estonia-based Striga.

Operations 45

Operations 45

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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.

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