MoneyGram attack exposed sensitive customer data
Payments Dive
OCTOBER 9, 2024
The attack led to a days-long outage in September. The money transfer firm hasn’t described the nature of the incident or said how many people have been impacted.
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7 Cross-Functional Teams Banks Need For Better Strategy
South State Correspondent
OCTOBER 9, 2024
Your bank is likely full of silos. Deposits rarely coordinate with Loans, Loans seldom talk to Mortgage, Risk is often on the outside looking in, and no one talks to Marketing until it is too late. These silos frequently prevent executing a single strategy, hinder communication, and interfere with collaboration. As a result, banks often struggle with culture, the customer experience, and, most importantly – strategy.
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Toast increases processing fees, adds surcharge feature
Payments Dive
OCTOBER 9, 2024
The digital restaurant payments provider raised processing fees for some restaurant clients. Separately, it’s aiding clients in adding surcharges on their customers’ orders.
Crafting an effective CECL Q factor framework for stronger risk management
Abrigo
OCTOBER 9, 2024
How to build a successful Q factor framework under CECL Understanding the quantitative side of the CECL calculation means developing defensible qualitative factors, or Q factors. Learn best practices to adjust for risk. Would you like other articles on CECL and Q Factors in your inbox? Takeaway 1 Q factors offer a way to adjust for risks that aren't fully captured in historical data or quantitative models Takeaway 2 Building a robust Q factor framework requires a systematic approach, regular mon
Back to Basics with Reconciliations
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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.
Global Payments embarks on ‘transition’ year
Payments Dive
OCTOBER 9, 2024
The payments processor expects to undertake possible divestitures, beginning this year, as part of an effort to jump-start revenue in subsequent years.
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Jack Henry Connect Conference Day 3 Recap | Jack Henry
Jack Henry
OCTOBER 9, 2024
Your Jack Henry Connect 2024 Day 3 recap is here! Click to view the summary of today's events.
Inside Capital One's quest to spread ID tech
American Banker
OCTOBER 9, 2024
By offering its authentication technology to other issuers, the credit card lender can compete with payment networks and mobile wallets. But it will have to persuade other banks to get on board.
Plaid introduces Pay-by-Bank for Bill Pay
The Paypers
OCTOBER 9, 2024
Plaid has launched its new Pay by Bank for Bill Pay solution, aimed at providing customers with higher adoption and fewer returns for an optimised experience.
Territorial sale tensions escalate as shareholder vote approaches
American Banker
OCTOBER 9, 2024
The Honolulu-based bank's board continues to recommend selling to Hope Bancorp in Los Angeles, despite a competing offer that includes a higher price tag.
How a Managed Services Partner Can Reduce the Friction in Your RDC Program
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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
INDEXO Bank partners Mambu to launch its banking operations in Latvia
The Paypers
OCTOBER 9, 2024
INDEXO Bank has announced that it has received its banking licence from the European Central Bank and has started its banking operations in Latvia.
Tokenized deposits are the real game changer in the financial sector
American Banker
OCTOBER 9, 2024
It won't be cryptocurrencies or central bank digital coins that revolutionize global finance, but rather banks offering deposit tokens that have many of the benefits of both.
Crypto.com initiates legal action against SEC following legal threat
The Paypers
OCTOBER 9, 2024
Singapore-based cryptocurrency exchange Crypto.com has initiated a lawsuit against the US SEC after receiving a legal threat from the regulator.
Grasshopper to buy Auto Club Trust
ABA Community Banking
OCTOBER 9, 2024
Grasshopper Bank in New York City has agreed to buy Auto Club Trust in Dearborn, Michigan. The $485 million-asset Auto Club Trust is a federal savings bank owned by The Auto Club Group. The post Grasshopper to buy Auto Club Trust appeared first on ABA Banking Journal.
Budget Playbook for Commercial Lenders — Bank and Credit Union Edition
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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.
Bank of America was Warren Buffett's latest sage bet on a bank
American Banker
OCTOBER 9, 2024
The legendary investor has been reducing his 13-year-old stake in BofA. It's the most recent instance of Buffett profiting from a big bet on a troubled financial institution.
Checkout.com provides Octopus as an online payment method
The Paypers
OCTOBER 9, 2024
US-based digital payments provider Checkout.com has announced a strategic agreement with Octopus to provide the latter’s services as an online payment method for merchants.
LendingClub Bank, Pagaya acquire assets of fintech Tally
American Banker
OCTOBER 9, 2024
The company, which helped consumers strategize their credit card payments and pivoted to a B2B model earlier this year, has sold its intellectual property two months after it folded.
Revolut, Chase, Modulr join 159 anti-scam service
The Paypers
OCTOBER 9, 2024
Revolut , together with Chase and Modulr , has agreed to sign up for the 159 short-code phone service that allows individuals in the UK to directly call their bank when worried about potential scams.
It Takes Two to Tango
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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.
Ag bank's history with Jack Henry goes back to tech firm's founder
American Banker
OCTOBER 9, 2024
First State Bank of Purdy is on the forefront of new technology from Jack Henry & Associates thanks to the decades-long relationship between the bank and Jack Henry himself.
Cashflows and Mastercard to bring Click to Pay to UK firms
The Paypers
OCTOBER 9, 2024
Cashflows has announced its partnership with Mastercard in order to provide its UK merchants and customers with access to the latter’s Click to Pay services.
Fed vice chair: Discount window 'effective' but still needs to evolve
American Banker
OCTOBER 9, 2024
Federal Reserve Vice Chair Philip Jefferson discussed the history of the central bank's last-resort lending facility. He characterized the Fed's latest outreach as part of a century-long effort to fine-tune the discount window.
Commvault Cloud now available on AWS
The Paypers
OCTOBER 9, 2024
Commvault , a provider of cyber resilience and data protection solutions for the hybrid cloud, has announced that the Commvault Cloud will be available on Amazon Web Services (AWS).
The 2024 Lenders Guide to Automating the Complex Loan
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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.
Dimon says regulators should reduce hurdles to going public
American Banker
OCTOBER 9, 2024
The JPMorgan Chase CEO said it's "odd" that there's been no commensurate rise in IPOs with the surge in public market valuations.
Bluefin, Dover Fueling Solutions to serve North America's retail petroleum forecourt
The Paypers
OCTOBER 9, 2024
US-based payment and data security company Bluefin has partnered with Dover Fueling Solutions (DFS) to provide PCI-validated P2PE solutions to the retail petroleum forecourt in North America.
Tim Johnson, former Senate Banking Committee chairman, dies at 77
American Banker
OCTOBER 9, 2024
Sen. Tim Johnson, a former three-term senator and five-term U.S. representative for South Dakota, died after complications from a recent stroke.
Trulioo announces new global fraud intelligence feature
The Paypers
OCTOBER 9, 2024
Trulioo , a provider of identity verification services, has announced the launch of Trulioo Fraud Intelligence, a new feature that aims to deliver predictive risk insights across over 195 countries.
Confronting the Change Challenge
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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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