Wed.Dec 13, 2023

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Credit Card Chronicles: A Comedy of Errors and How to Avoid the Sequel!

BankBazaar

Dive into the Credit Card Chronicles – a hilarious saga of mishaps! From vanishing cards at checkout to deciphering cryptic statements, join the laughter and learn savvy tips to dodge financial drama in the New Year. Navigate online shopping rabbit holes, dining dilemmas and the credit limit tightrope with wit. Your financial journey deserves a comedy, not a tragedy!

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Google Pay taps Affirm, Zip for BNPL

Payments Dive

The tech giant has linked with the buy now, pay later companies to develop installment payment options to be offered next year.

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Optimizing your AML program with above-the-line/below-the-line testing

Abrigo

Address risk by fine-tuning your AML transaction monitoring program Financial institutions must stay on top of their scenarios and settings. Above-the-line/below-the-line testing can help get the right parameters. You might also like this resource: "AML investigations checklist: Red flags for detecting money laundering." Watch webinar Takeaway 1 False positives within a suspicious activity monitoring program can be frustrating.

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FedNow may have spurred RTP adoption

Payments Dive

The number of banks participating in The Clearing House’s real-time payments network surged this year after the launch of the rival FedNow system.

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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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How QT will Impact Cost of Funding in 2024

South State Correspondent

Most market participants are focused on just one monetary policy tool available to the Fed – short-term, federal funds rates. However, the other critical monetary instruments available to the Fed are quantitative easing and tightening (QE and QT, respectively). While the Fed’s current actions on QT have been deemed long-term, slow-moving, and compared to watching paint dry, after years of QT, the impact is real and is affecting money supply and bank’s cost of funding (COF).

More Trending

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Gen AI to enhance software development, Mastercard exec says

BankInovation

Financial institutions are looking to generative AI for software development, chatbots and operational efficiencies, and more AI applications are expected to surface in 2024. Gen AI for software development, for one, is expected to be “transformational” in the financial services industry, according to Mastercard’s “Generative AI: The transformation of banking” report, released Dec. 4.

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New Year's Predictions: Marketing, PR and Fintech in 2024

William Mills

The fintech and financial services industries continue to show resilience, and we eagerly anticipate another year marked by innovation and productivity. As we work on our annual Bankers as Buyers report , which highlights predictions and trends for the financial services industry, we were inspired to make a few of our own. WMA team members weigh in on their 2024 fintech, marketing and PR predictions.

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CaixaBank forms gen AI team, Ripple rebrands cross-border payments

American Banker

CaixaBank assembled a team of more than 100 people focused on generative artificial intelligence products, Ripple changed the name of RippleNet to Ripple Payments, and more.

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Transactions: Citi TTS taps Icon Solutions for payments platform

BankInovation

Citi Treasury and Trade Solutions invested in payments fintech Icon Solutions last week to modernize its core payments capabilities and expand its payments offerings. Citi TTS, the global banking arm of the $1.

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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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Dramatic collapses made 2023 the biggest year ever for bank failures

American Banker

The five banks that went under in 2023 had nearly $550 billion of assets, the largest total in a single year. Here's a look back at how they unraveled.

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ClutchBet partners with Pavilion Payments

The Paypers

Omnichannel payments provider Pavilion Payments has announced its partnership with ClutchBet in order to integrate instant payments to the latter’s customers.

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Three reasons why investors — and the financial system — should watch crypto in 2024

American Banker

Several factors are combining that make it more likely bitcoin and other cryptocurrencies will become mainstream assets in 2024.

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Amid record market close, ABA rings closing bell at Nasdaq

ABA Community Banking

ABA marked the 20th anniversary of the ABA Nasdaq Community Bank Index (ABAQ) by ringing the closing bell at the Nasdaq MarketSite in New York City. The post Amid record market close, ABA rings closing bell at Nasdaq appeared first on ABA Banking Journal.

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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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Orrstown Financial buying Pennsylvania rival Codorus for $207M

American Banker

The acquisition would deepen Orrstown's presence in its home state and Maryland. Codorus Valley Bancorp in recent years had faced pressure from an activist investor to consider selling.

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InbestMe partners with Onfido

The Paypers

Onfido has partnered with InbestMe , a digital investment platform offering personalised investment strategies, to automate the latter's onboarding process.

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Upgrade says its secured card has trifecta of differentiators

American Banker

The fintech is the second in two months to launch a secured credit card. Upgrade's version will offer up to 3% cash back and elevate users to the unsecured version over time.

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Sift unveils workflow simulation for automated fraud defence

The Paypers

US-based fraud detection provider Sift has launched Workflow Simulation to drive automated fraud performance with insights gained from simulating a working environment.

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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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Truist lures new chief legal officer from Ally Financial

American Banker

Scott Stengel, who has been Ally's general counsel since 2016, will succeed Ellen Fitzsimmons, who is retiring after four years as head of legal affairs at Truist.

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JustiFi and Verifone partner to offer Unified Card-Present solution

The Paypers

US-based fintech JustiFi has partnered with Verifone to introduce a Unified Card-Present solution, so that platforms can easily integrate payments for their customers.

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FICO creating credit scores for Ukrainian refugees

American Banker

Banks in Poland will be the first to start receiving and using the scores, which will allow Ukrainians fleeing their country to obtain credit in their new Polish homes.

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Affirm partners with Blackhawk Network

The Paypers

US-based payments network Affirm has partnered with branded payments provider Blackhawk Network (BHN) to provide consumers with flexibility for purchasing gift cards.

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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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Powell says Fed will stay the course on quantitative tightening

American Banker

The Federal Reserve has allowed more than $1 trillion of assets to roll off its balance sheet. Chair Jerome Powell says he doesn't believe reserves in the banking system are nearing a level that would cause the Fed to slow down or stop.

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FutureBank partners with Paymentology

The Paypers

Embedded Finance platform FutureBank has partnered with Paymentology to offer banks and fintechs simplified integration to card issuing and processing services.

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Citigroup offers partial early bonuses to encourage staff departures

American Banker

The New York-based lender has already cut more than 300 senior management roles as part of a revamp. Those are part of a wider staff cull that is expected to continue into 2024.

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Sage to offer AccessPay for augmented reconciliation processes

The Paypers

UK-based corporate-to-bank integration provider AccessPay has become a Sage Recommended Solution, increasing frequency and accuracy of reconciliation processes.

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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.