Wed.Apr 10, 2024

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The banking and crypto markets may be more symbiotic than you think

American Banker

Many assumed the advent of cryptocurrencies heralded a revolution in finance. The truth may be that crypto's overall impact on the financial services industry is more evolutionary than revolutionary.

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PayPal’s new CEO lands $42M pay package

Payments Dive

The bulk of that compensation stems from a major stock grant handed to Alex Chriss when he took the digital payments company’s top post last year.

Payments 221
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Truist parts ways with another CIO

BankInovation

The shakeup at Truist Financial continues. Truist Financial Chief Information Officer Scott Case has left the Charlotte, N.C.-based bank, a source close to the matter told Bank Automation News. Case took on the role of CIO at Truist in December 2019, according to his LinkedIn profile. He joined Truist through the SunTrust–BB&T merger.

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Capital One’s Discover bid tops biggest Q1 tech-related deals

Payments Dive

The proposed Capital One-Discover merger made the list because of fintech issues that are at stake in the $35.3 billion deal.

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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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76% of EU banks to up tech spend to comply with new regulation

BankInovation

European banks are preparing their tech stacks to comply with Instant Payment Regulation, which were set in motion on April 8. The European Parliament and European Council, which provide the foundation for the single euro payments area (SEPA), published the Instant Payment Regulation March 14.

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Transactions: Google Cloud powers Quantum Metric’s gen AI tool

BankInovation

Digital analytics platform Quantum Metric used Google Cloud’s Gemini Pro to launch its generative AI-powered session summarization tool Felix AI on April 4.

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An anti-ESG darling campaigns for Congress

American Banker

West Virginia Treasurer Riley Moore, who's put banks on a blacklist for their support of ESG policies, is up for (and very likely to win) one of the state's two seats in the U.S. House. Here's how he got there, and what it'll look like when he tries to bring his anti-ESG policies national.

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Entrust finalises Onfido acquisition

The Paypers

Payments, identities, and data company Entrust has completed its acquisition of Onfido , an identity verification company, to combat deepfakes and AI-powered cyber attacks.

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Ripple's $2 billion fine may close ugly chapter in history

American Banker

The penalty roughly matches the amount of money the SEC estimates Ripple and its leaders have profited from sales of XRP, which the agency says are unregistered securities.

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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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PayU partners with PayPal

The Paypers

Online payment solutions provider PayU has announced its partnership with PayPal in order to improve cross-border payments for India-based merchants.

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Capital reform could 'deviate' from Basel agreement: Fed's Bowman

American Banker

The Federal Reserve Board governor and frequent regulatory critic says it would be appropriate for the U.S. to deviate from the agreed-upon international standards to reflect "unique characteristics" of the American banking system.

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Internet Bank Bunq secured EUR 29 million

The Paypers

Internet Bank Bunq has announced the rise of EUR 29 million capital injection, as it made a net profit of EUR 53 million in 2023 via its increased interest income.

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Employee Spotlight: Shelby Moyer

Image Works Direct

Meet Shelby Moyer, one of the image.works copy team’s most versatile writers! Originally from the Seattle area, she’s now settled in her husband Cody’s home state of Wisconsin, where they recently bought their first home. When Shelby’s not at work, you can find her thrifting/antiquing, reading or exploring the outdoors with her dogs, Maizie and Teddy.

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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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Nuvei secures MPI license in Singapore

The Paypers

Nuvei has secured an MPI license in the region of Singapore to accelerate its APAC expansion and to provide customers in the country with additional solutions.

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Mastercard realigns business structure, NY Fed joins cross-border test

American Banker

Mastercard established a new structure for businesses focused on card acceptance and transaction processing, new payment flows and value-added services. Separately, the Federal Reserve Bank of New York is joining several countries' central banks in a test of tech to support cross-border transactions.

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Santander to launch Openbank in the US

The Paypers

Santander has launched a new national, digital offering in the region of the United States under the Openbank brand, aiming to improve customer experience.

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Fannie Mae, Freddie Mac regulator, CSBS agree to share nonbank info

American Banker

The memorandum creates channels for sharing information about nonbanks between the Federal Housing Finance Agency and the Conference of State Bank Supervisors.

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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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FICO and Atto enable Open Banking integration for UK lenders

The Paypers

UK-based credit risk solutions provider Atto has partnered with analytics software company FICO to integrate Open Banking data into UK credit scoring.

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Banks wrestle with CEO succession plans

American Banker

JPMorgan Chase's board has announced the slate of candidates to replace Jamie Dimon if he ever retires. The bank is just one of several large institutions that have recently decided on who will take over the top job.

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SurePay's solutions available on Temenos Exchange

The Paypers

Payment verification solution provider SurePay has announced the availability of its services on the cloud-based Temenos Exchange partner ecosystem.

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FDIC's Gruenberg: We have a strategy to fail a 'too big to fail' bank

American Banker

Federal Deposit Insurance Corp. Chairman Martin Gruenberg says the agency would likely use a resolution strategy for a global systemically important bank that puts the holding company into resolution and keeps subsidiaries operating under a bridge company.

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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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Kueski launches in-store Kueski Pay for BNPL transactions

The Paypers

Kueski , a prominent player in the buy now, pay later (BNPL) and online consumer lending sector in Latin America, has announced the forthcoming launch of the in-store version of Kueski Pay.

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Instant Payments: What FedNow Could Learn From Brazil’s Pix

The Financial Brand

This article Instant Payments: What FedNow Could Learn From Brazil’s Pix appeared first on The Financial Brand. Pix instant payments accelerated way beyond credit and debit in 2023. Growing popularity for digital wallets could give FedNow an opening. This article Instant Payments: What FedNow Could Learn From Brazil’s Pix appeared first on The Financial Brand.

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Post Office offers cash deposits from Monzo customers

The Paypers

UK-based Post Office has enabled cash deposits for digital bank Monzo ’s customers across all of the former’s facilities in the UK.

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Ameriprise to pick up $2B credit union program from LPL

American Banker

Kinecta Wealth Management, the wealth arm of Kinecta Federal Credit Union, will switch firms by the end of the year.

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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.