Wed.Nov 15, 2023

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Affirm adds account to bolster card

Payments Dive

The buy now, pay later provider’s account will offer savings-level interest, ATM access and direct deposit, Affirm executives said.

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Predatory Loan Prevention Bill Introduced in Florida to Codify “True Lender” Analysis

CFPB Monitor

Florida SB 146, a bill that would add a “Predatory loan prevention” section to the Florida Consumer Finance Act has been introduced in the Florida Senate, seeking to curb bank-model lending programs and codify a “true lender” analysis with language similar to legislation enacted in Minnesota and other states within the past three years.

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ADP, Convera partner on payroll, payments

Payments Dive

The two companies have collaborated to integrate Convera’s payments services into ADP’s payroll software.

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'Everybody is on edge.' How Israel's fintech workers are enduring war.

American Banker

With employees regularly fleeing to bomb shelters — and some being called away to military service — these technologists must still serve a global clientele while confronting fear and destruction at home.

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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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It’s Never Too Early For More Efficient Customer Service

BankInovation

It’s that time of year again: The leaves are changing color, the days are getting shorter, the smell of pumpkin spice is in the air… and you just might happen to spot Christmas trees and reindeer lining store shelves.

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Fifth Third CIO to speak at Bank Automation Summit U.S. 2024

BankInovation

Jude Schramm, executive vice president and chief information officer at Fifth Third Bank, will speak on the panel “The AI revolution in banking: A road map for the future” at Bank Automation Summit U.S. 2024 on Monday, March 18, at 1:15 p.m. CT.

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Community Banker of the Year: OFG Bancorp's José Rafael Fernández

American Banker

OFG Bancorp's CEO José Rafael Fernández has weathered tough times during Puerto Rico's economic downturn. Now he is hopeful that his bank can seize on the better times ahead.

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EverBank selects FIS’ Digital One banking platform

BankInovation

EverBank, formerly TIAA Bank, is converting its consumer digital banking operations to FIS’ Digital One to kick off 2024. TIAA completed the sale of its subsidiary TIAA Bank to private investors in August and the bank has now rebranded as EverBank, according to an EverBank release. As the $34.6 billion, Jacksonville, Fla.

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Credit Union Executive of the Year: Maui County FCU's Gary Fukuroku

American Banker

As CEO, Gary Fukuroku has helped turn the Hawaiian-based institution into one of the largest in the state and has raised significant funds to help those affected by this year's wildfires.

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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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European Transactions: Deutsche Bank invests in AI-driven fintech

BankInovation

Deutsche Bank made a seed investment in AI-driven information and documentation processing company Kodex AI last month. The Berlin-based startup raised 1.6 million euros ($1.

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'You're responsible. Period.' Banks take fire for fintech partnerships

American Banker

At the American Fintech Council's 2024 policy summit, banking-as-a-service was the talk of the town as experts shared how to avoid missteps in the business.

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The National Bank of Cambodia partners with Ant International

The Paypers

The National Bank of Cambodia has signed a MoU with Ant International to offer inbound and outbound cross-border mobile payments in the region.

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In latest shake-up, Truist expands its executive leadership team

American Banker

The regional bank announced a near-doubling of the size of its most-senior leadership team, plus expanded roles for two former SunTrust executives and the hiring of a wholesale banking chief from Wells Fargo. Truist is under pressure to improve both its efficiency and its financial performance.

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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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TerraPay partners with Maya

The Paypers

UK-based TerraPay has announced its partnership with Maya in order to provide secure and fast cross-border payment for Filipino clients around the world.

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Bank stocks finally bounced back this week. Will the good times last?

American Banker

Share prices climbed sharply amid increased optimism about the outlook for interest rates. Regional banks that got hammered earlier this year were among the biggest winners.

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PayTabs partners with Tabby

The Paypers

Payment solutions provider PayTabs has announced its partnership with Tabby to enable the expansion of ecommerce across the Kingdom of Saudi Arabia and the UAE.

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Michigan State University credit union extends buying spree

American Banker

The $7.7 billion-asset federal credit union in East Lansing announced its third deal in as many months — the planned purchase of in-market peer Gabriels Community Credit Union. And it has two bank acquisitions pending.

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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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Feedzai partners with CoreCard

The Paypers

US-based Feedzai has partnered with CoreCard to safeguard the processing market against fraud by leveraging AI-powered defence systems.

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New Census data hints at slower pace for small business formation

American Banker

A key gauge of activity that tracks startups most likely to create jobs declined in October, potentially signaling the start of a slowdown amid the fallout of high interest rates. It presents a red flag for community banks and credit unions that are major lenders to small businesses.

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We’re Stuffed With Gratitude for Our Clients

Image Works Direct

With full hearts and full bellies, we see the holidays as a time of gratitude and thankfulness. Whether you show this gratitude with cobblers and casseroles or kind words from the heart, it’s the little things that show you care. This Thanksgiving, we hope someone tells you how appreciated you are – and if no one else does, we will!

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After student loan payments restart, 1.4 million Americans risk defaulting on debt

American Banker

Analysts have been debating the impact on household finances and the economy as Americans resume student loan payments. There's already a squeeze from higher interest rates, which are expected to slow consumer spending and economic growth.

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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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Apiture announces USD 10 Million insider fundraising round

The Paypers

Apiture has announced the closing of a USD 10 million fundraising round led by funds and accounts advised by T. Rowe Price Investment Management, along with other existing investors.

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Citizens Bank to end wholesale originations

American Banker

Relationships with brokers will be terminated on Dec. 6, but company officials stressed there would be no impact to its loan servicing or other mortgage channels.

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Lynx gets EUR 17 mil to fight fraud and financial crime

The Paypers

AI anti-fraud detection software company, Lynx , has recently announced it secured a Series A funding round of EUR 17 million, with the participation of Forgepoint Capital.

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Small-business bankers share their tech priorities

American Banker

Executives at Capital One, U.S. Bank, BMO and Atlantic Union Bank are striving for seamless onboarding and more efficient branch bankers, among other projects on their technology drawing boards.

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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.