Accenture

OCTOBER 31, 2023

PSD2 helped drive electronic payment and data-sharing volumes while enhancing security. So why is the EU proposing to enhance it with the new Payment Services Directive 3 (PSD3) and Payment Services Regulations (PSR) package, and what does this entail? 1) Gaps in the regulatory application of PSD2. The new framework will create a consistent regulatory environment… The post EU future-proofs its payments and Open Banking ecosystem with PSD appeared first on Accenture Banking Blog.

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Payments Dive

OCTOBER 31, 2023

The CEOs of Mastercard and Global Payments chimed in with opposing views of the Federal Reserve Board’s proposal to lower the cap on debit interchange.

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Payments 459

South State Correspondent

OCTOBER 31, 2023

Last week, we discussed how and why commercial lenders use a bank loan proposal letter (aka commitment letters) to their advantage ( HERE ). We argued that a proper strategy and a well-crafted loan proposal letter could help lenders close loans quicker, eliminate more competitors, secure better pricing, and obtain the desired credit structure. In this article, we discuss the top four mistakes that we see in commitment/proposal letters.

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Payments Dive

OCTOBER 31, 2023

Sens. Dick Durbin and Roger Marshall, who have introduced legislation to spur credit card competition, called on federal regulators to investigate card frequent flyer program abuses.

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ATM Marketplace

OCTOBER 31, 2023

Digital banking is important, but branches also have a role to play. A panel at the Bank Customer Experience Summit in Charlotte, North Carolina took a look at what's new in branch design.

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Branch Design North Carolina Charlotte Customer Experience 119

American Banker

OCTOBER 31, 2023

The president directed government agencies to frame new rules on protecting privacy and security, preventing intellectual property theft, reducing bias and more in banks' use of AI models.

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Security Technology 98

TheGuardian

OCTOBER 31, 2023

Alfa Bank founder Alexey Kuzmichev was sanctioned by EU for ‘well-established ties’ to Vladimir Putin Police in France have detained the Russian tycoon Alexey Kuzmichev and raided two of his properties in connection with alleged tax evasion, money laundering and sanctions violations. The French financial prosecutor’s office said on Tuesday that searches had taken place a day earlier at Kuzmichev’s Paris home and an estate in in the Mediterranean Var region.

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American Banker

OCTOBER 31, 2023

The Electronic Payments Coalition said that Sens. Dick Durbin and Roger Marshall are retaliating against the airline industry, which has been critical of their credit-card swipe-fee legislation. The two senators have called for an investigation of airlines in connection with purportedly unfair practices in their loyalty programs.

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Groups Cards Industry Payments 95

TheGuardian

OCTOBER 31, 2023

Regulator figures show huge differences in banks’ treatment of fraud victims, from 94% of claims refunded by TSB to 6% at Monzo The shocking disparity in the way the banks refund fraud victims has been laid bare in figures that show TSB refunded 94% of customer fraud claims in full last year, while for Monzo the figure was just 6%. According to the data, published on Tuesday by the Payments System Regulator (PSR), TSB was the standout bank in terms of refunding victims of authorised push payment

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Advertiser: ZoomInfo

Incorporating generative AI (gen AI) into your sales process can speed up your wins through improved efficiency, personalized customer interactions, and better informed decision- making. Gen AI is a game changer for busy salespeople and can reduce time-consuming tasks, such as customer research, note-taking, and writing emails, and provide insightful data analysis and recommendations.

Analysis

American Banker

OCTOBER 31, 2023

The tech billionaire wants the former Twitter's users to manage all of their finances on the site — the sooner, the better.

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CFPB Monitor

OCTOBER 31, 2023

The Federal Trade Commission and Wisconsin Attorney General have entered into settlements with a group of auto dealerships, their current and former corporate owners, and their general manager for allegedly engaging in unlawful discrimination in connection with financing offered to customers and for allegedly engaging in deceptive practices in connection with the sale of add-on products. .

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American Banker

OCTOBER 31, 2023

As the holiday shopping season approaches, late payments on credit cards have surpassed their pre-pandemic levels, according to a new VantageScore report. The consumers showing signs of deterioration include not only subprime borrowers, but also those with prime credit scores.

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BankInovation

OCTOBER 31, 2023

LAS VEGAS — BECU automates more than half of its underwriting operations as it balances AI with manual processes. The Tukwila, Wash.-based credit union’s automation rates hover between 60% and 70%, Jayson Amandus, vice president of indirect lending, said Monday at Auto Finance Summit 2023.

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Automation is changing the game for commercial lenders, offering a clear path to competitive advantage in 2025. Rising costs, outdated workflows, and manual data entry slow growth and impact borrower satisfaction. Automation addresses these challenges, reducing costs, speeding up loan cycles, improving accuracy, and elevating borrower experiences. With market uncertainty easing, now is the time to act—waiting until loan volumes rebound leaves lenders unprepared and struggling to compete.

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American Banker

OCTOBER 31, 2023

Almost a year since FTX's implosion set a minor banking crisis in motion, neither Congress nor regulators seem to be anywhere close to issuing comprehensive rules for the crypto road. That's a missed opportunity, and states are likely to fill the void.

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BankInovation

OCTOBER 31, 2023

Financial institutions (FIs) are in a tough position. They need to deliver customer service excellence while call volumes are up and call center staffing remains a challenge. Customers and members expect real-time engagement at their point of need, but traditional phone systems often provide limited functionality.

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The Paypers

OCTOBER 31, 2023

Global payment orchestration platform FinMont has announced it will incorporate the Web3 infrastructure Camino Network by Chain4Travel.

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Payments 74

BankInovation

OCTOBER 31, 2023

LAS VEGAS — Online car-leasing platform Rodo is looking to Google’s Bard for an AI-powered vehicle product. Rather than focusing on maintenance-driven technology, Rodo is working on “forward thinking technologies,” Nathan Hecht, founder and chief executive at Rodo, said at Auto Finance Summit 2023 on Monday, noting, “For us, it’s always technology first and foremost.

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Advertiser: ZoomInfo

In today’s ultra-competitive markets, it’s no longer enough to wait for buyers to show obvious signs of interest. Instead, sales teams must be proactive, identifying and acting on nuanced buyer behaviors — often before prospects are fully ready to make a purchase. In this eBook from ZoomInfo & Sell Better, learn 10 actionable ways to use these buyer signals to transform your sales strategy and close deals faster.

Capital

The Paypers

OCTOBER 31, 2023

Germany-based financial institution Deutsche Bank has announced the closing of multiple Postbank branches, in order to improve digital services after its mismanaged IT migration.

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BankInovation

OCTOBER 31, 2023

Financial services company Morgan Stanley appointed Ted Pick as its new chief executive Wednesday. Effective Jan. 1, 2024, Pick replaces James Gorman, who has helmed the $1.1 trillion financial institution since 2010, according to an Oct. 25 Morgan Stanley release.

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Qudos Bank

OCTOBER 31, 2023

If you’re looking for a low-risk investment, then you may want to consider putting your money into a Term Deposit. A Term Deposit could help you achieve your savings goals. In exchange for locking your money away with a bank for a set period of time, you could obtain a competitive fixed interest rate. If you’re considering placing your money into a Term Deposit, then it’s important to weigh up your options, so you can make an informed decision.

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Regulation US Security Video 52

The Paypers

OCTOBER 31, 2023

US-based payments platform Dwolla has announced the integration of Open Finance into its recently launched solution.

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US Payments 45

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Remote Deposit Capture (RDC) clients are more likely to use additional treasury services and maintain larger deposits. However, poor customer experiences—particularly if they delay deposits—can compel RDC clients to take their business elsewhere. This eBook makes the case for outsourcing RDC operations to a proven managed services partner. This approach helps Treasury Departments with limited resources provide excellent client experiences that result in higher retention and productivity rates.

Operations

The Financial Brand

OCTOBER 31, 2023

This article How Fintech Transformation Impacts the Future of Retail Banking appeared first on The Financial Brand. As fintechs still reshape banking, their focus on profits over scale does not diminish the competitive threat — or collaborative opportunity. This article How Fintech Transformation Impacts the Future of Retail Banking appeared first on The Financial Brand.

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Retail Fintech Branding Banking Trends 43

The Paypers

OCTOBER 31, 2023

US-based Omnicom has acquired Flywheel Digital for USD 835 million, to broaden its reach and expand into the digital commerce and retail media sectors.

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Retail US 45

American Banker

OCTOBER 31, 2023

Regulators are pushing a scheme that is completely out of touch with international regulatory norms. It would irreparably harm both consumers and the U.S. economy.

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Operations Capital Regulation Risk Management 41

The Paypers

OCTOBER 31, 2023

UK-based TrueLayer has announced its partnership with gaming operator William Hill to provide instant pay-ins and payouts for players in the region.

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Regional Operations 41

Advertiser: ZoomInfo

As prospects define their problem, search for solutions, and even change jobs, they are generating high-value signals that the best go-to-market teams can leverage to close more deals. This is where signal-based selling comes into play. ZoomInfo CEO Henry Schuck recently broke down specific ways to put four key buying signals into action with the experts from 30 Minutes to President’s Club.

How To