Tue.Apr 09, 2024

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Visa, Mastercard CEOs throw hearing off track

Payments Dive

Senate Judiciary Committee Chairman Dick Durbin postponed a plan to call credit card chieftains on the capitol carpet at a Tuesday hearing, but he’s still aiming to get them to Washington.

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How To Let Borrowers Choose the Wrong Loan Structure

South State Correspondent

We estimate that the average contractual loan commitment for term credit at community banks has decreased from just under five years in 2022 to just under three years currently. The primary reason for this shift is not a change in borrowers’ business models or banks’ preference for repricing term loans, but rather, borrowers’ decision to seek short-term financing in anticipation of the Federal Reserve embarking on an interest rate cutting cycle.

How To 195
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CFPB, DOJ boost teamwork on cases

Payments Dive

The bureau will refer “potentially criminal conduct,” including “anti-competitive mischief,” to the DOJ for action, CFPB Director Rohit Chopra said Monday.

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Why JPMorgan’s chief data and analytics officer sits on operating committee

BankInovation

JPMorgan Chase’s chief data and analytics officer sits within its operating committee to keep up with ongoing AI investment and implementation bankwide. Appointed in June 2023, Chief Data and Analytics Officer Teresa Heitsenrether serves on the $3.

Analytics 125
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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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I’m a victim of scammers. But Revolut says ‘no’ to a refund

TheGuardian

The company seems to hold me entirely responsible for the fact £40,000 was stolen I desperately need help after ­falling victim to a scam resulting in my Revolut business account being emptied of £40,000. The company is refusing a refund. It happened in February while I was staying up a mountain in Italy with no internet and a poor mobile phone signal.

Mobile 110

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OakNorth to provide business banking services in UK

BankInovation

Digital bank OakNorth is in the early stages of testing to provide wire banking services in the United Kingdom. The London-based bank is beta-testing business banking services, including operational accounts, cards and payments, Chief Executive Rishi Khosla told Bank Automation News. Founded in 2015, the $4.

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A material difference: The wood credit card takes root

American Banker

It's a substance that literally grows on trees, and is just as compostable. But like any other proposed alternative to first-use plastic, wood comes at a premium to any issuers that want to adopt it.

Cards 81
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Hiding in Plain Sight

Realwired Appraisal Management Blog

“The appraisal industry has so many opportunities if we work together”, Cindy Chance Ph.D. and CEO of the Appraisal Institute. Cindy was gracious to present at our recent Chief Appraiser FIVA (Financial Institution Valuation Advisors) meeting. 5 Takeaways As an Appraisal Institute member for decades, I get it.

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Small and midsize business optimism bodes well for credit quality

American Banker

A solid majority of decision-makers at these companies expect to expand their workforces again this year, a Citizens Financial survey found. Loan losses are normally low in eras of economic expansion.

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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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How banks can improve customer experience with surcharge free ATMs

ATM Marketplace

Surcharge free ATMs allow banks to expand their services outside of branches.

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Amex bolsters digital design to boost customer satisfaction

American Banker

As American Express has evolved with new products, its largest digital design team is rethinking how to finesse online and mobile design with the customer at the forefront.

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Survey: Community bankers remain concerned about economy, regulation

ABA Community Banking

Community bankers are showing slightly more confidence in the future economic conditions but still have concerns, particularly about regulatory burden, according to the latest Community Bank Sentiment Index/ The post Survey: Community bankers remain concerned about economy, regulation appeared first on ABA Banking Journal.

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Relationship finance app Tandem debuts new goals feature

American Banker

The Ann Arbor, Michigan-based fintech is working with two Michigan credit unions to pilot a service that allows consumers to jointly save for purchases.

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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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Road and Worldline partner for EV charging payments

The Paypers

Netherlands-based EV charging platform Road has partnered with Worldline to address payment processing and regulatory burdens for EV charge point owners.

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Discover deploys generative AI in its contact center

American Banker

The financial services firm is using Google Cloud's Vertex AI platform to help customer service agents quickly locate and understand policies when answering queries.

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dLocal partners with Papaya Global

The Paypers

dLocal has announced its partnership with payroll and payments platform Papaya Global in order to enable firms to easily handle workforce payments around the world.

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Is 'technofeudalism' killing capitalism?

American Banker

Cloud-based tech giants like Amazon, Google and Uber are changing the economy, and not for the better, asserts Yanis Varoufakis, a former finance minister of Greece and a professor at the University of Athens, who has written a book about the dangers of what he calls the "cloudalists.

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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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Unlimit leads Paytring's pre-seed funding round

The Paypers

Global fintech company specialising in payments, Unlimit , has become the lead investor in payment orchestration platform Paytring ’s pre-seed funding round.

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Can financial regulation give the people what they want?

American Banker

The populist backlash from the Great Financial Crisis turned the financial regulatory world upside down. Fifteen years later, that populist force is still informing how people vote, how financial regulation is crafted and how regulators see themselves.

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Adyen: UK retail sector loses GBP 11.3 bln to payment fraud yearly

The Paypers

Adyen and the Centre for Economic Business and Research have reported that over a third of UK retail businesses lost on average GBP 1.4 mln each to fraud in 2023.

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BMO drops anti-coal policy amid Wall Street rebuke of ESG

American Banker

The change came to light Monday after West Virginia Treasurer Riley Moore took a victory lap in an announcement of the financial firms it was adding to its boycott list, which doesn't include BMO.

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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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J.P. Morgan Chase launches Chase Media Solutions

The Paypers

J.P. Morgan Chase has announced the launch of a new unit entitled Chase Media Solutions, in order to allow advertisers to target customers based on spending data.

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We need more transparency and competition in international payments

American Banker

Federal regulators need to mandate full disclosure of total costs for international money transfers, including all exchange rate markups, and to allow nonbanks access to the Fed's payment system.

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Ant Group's partnerships to expand consumer-friendly zones in China

The Paypers

Ant Group has signed 11 partnerships with global e-wallets and card organisations as part of a programme to build international consumer-friendly zones in China.

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NYCB's latest challenge: Losing bankers to competitors

American Banker

The beleaguered Long Island bank has recently seen at least 16 teams walk out the door, according to announcements by Dime Community Bancshares and Peapack-Gladstone Financial.

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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.