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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Cards Regulation 243

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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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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 118

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

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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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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Taxes Regional 93

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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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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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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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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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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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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Cards Report Payments Lending 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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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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Las Vegas Google US Technology 72

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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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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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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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

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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Regulation Policies cryptocurrency Compliance 76

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 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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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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Qudos Bank

OCTOBER 31, 2023

Buying new furniture and appliances can certainly improve your enjoyment of your home. However, buying new furniture and whitegoods can really add up, especially if you’re trying to replace multiple items at once. Saving to make these upgrades can be intimidating — but it doesn’t have to be. We’ve collated some of our favourite tips to help you work towards your next big purchase.

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Taxes National US Online 40

The Paypers

OCTOBER 31, 2023

Virgin Atlantic has tapped payment provider Elavon ’s acquiring services and Multi-Currency Conversion (MCC), allowing merchants to settle in one of 100 currencies.

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Payments 41

Qudos Bank

OCTOBER 31, 2023

When it comes to childproofing your home, every precaution counts. Children are naturally curious and love to explore, though this could expose them to potential hazards. From your kitchen to their nursery, it’s important to grasp and apply effective safety measures. We’ve provided a detailed guide to help you create a safe environment for your children, as well as offering valuable insights if you’re planning on choosing your next home to support your growing family.

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Meeting Security Tools US 40

The Paypers

OCTOBER 31, 2023

Barclays has launched Demo Directory, a free online solution for founders to showcase their business potential investors, raise capital, and accelerate growth in the UK.

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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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