Wed.Apr 17, 2024

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Yes, AI is coming for your job. Here's why you shouldn't worry.

American Banker

Financial industry workers don't need to be concerned about losing their jobs to AI — they need to be concerned over which of the many opportunities they will want to seek out when the time comes.

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CFPB $8 late fee cap edges toward reality

Payments Dive

Despite an industry-backed lawsuit seeking to stop the Consumer Financial Protection Bureau’s new $8 late fee rule, bank card issuers are bracing for potential implementation.

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Making way for women leaders

ABA Community Banking

How organizations can support the advancement of women to the highest levels The post Making way for women leaders appeared first on ABA Banking Journal.

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Fed keeps up CBDC research

Payments Dive

Despite political opposition to a potential U.S. central bank digital currency, research staff at the central bank continue to study the possibility.

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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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Transactions: BNY Mellon, Accenture team up to boost data and analytics services

BankInovation

BNY Mellon has selected technology services provider Accenture to enhance the bank’s data and analytics services. The bank will use Accenture’s AI and data expertise to introduce new services and create new client experiences, according to an April 15 release.

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Jamie Dimon has a new vision for money in an AI world

BankInovation

JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon makes no secret that his firm is all-in on artificial intelligence. Now, the head of the world’s biggest bank is laying out his vision for the future of money in an AI world.

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Connecticut's special banking charter finds a new purpose

American Banker

Banking Circle US is the first company to use Connecticut's uninsured bank charter for wholesale and merchant activities. This kind of charter makes sense for payments firms, but questions persist about overall viability.

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U.S. Bank’s investment in payments tech drives growth

BankInovation

U.S. Bank’s investment in payments technology contributed to growth and higher payments revenue in the first quarter.

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Q&A: Frank Lucas says 'K Street doesn't pick the chairman' of HFSC

American Banker

Rep. Frank Lucas, R-Okla., told American Banker that he sees a concrete path to chair the House Financial Services Committee that relies on his long experience in committee leadership and long political career.

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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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TokenEx to merge with IXOPAY

The Paypers

Cloud tokenisation provider TokenEx has announced its strategy to merge with IXOPAY to enable merchants to optimise the overall use of multiple payment processors.

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Klarna turns a BNPL track record into a creditworthiness benchmark

American Banker

U.S. customers who have previously used Sweden-based Klarna's buy now/pay later financing — and paid off their loans in full — will be prequalified for interest-bearing loans through a new version of the Klarna Visa card rolling out later this year.

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BIAN expands its network

The Paypers

Independent not-for-profit standards association BIAN has announced the development of its network, as well as its commitment to optimising its banking solutions.

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CFPB makes structural changes after expanding authority over nonbanks

American Banker

The CFPB has dissolved the Office of Supervision, Enforcement and Fair Lending and eliminated the job of associate director in a move that impacts how it designates nonbanks for supervision.

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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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Klarna launches its credit card in the US

The Paypers

AI-enabled global payments network Klarna has announced its plans to introduce its credit card in the US, thus working towards expanding its market presence.

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First Horizon bucks trend as deposit costs slow

American Banker

Rising deposit costs have plagued banks in general, and the Tennessee bank had to pay up to bolster liquidity after its failed merger with TD. But First Horizon retained customers in the first quarter while not paying them the special rates they got last year.

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Celeris integrates with PXP Financial

The Paypers

Payment orchestration provider Celeris has integrated with PXP Financial to augment payment processing for businesses on a global scale.

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Alipay opens to more tourists, Revolut gets Mexican banking license

American Banker

Ant Group's Alipay is linking to Pakistan's NayaPay as part of a push to support tourism to China, Revolut has obtained a license from Mexico's National Banking and Securities Commission, and more.

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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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Ozone API partners with Thistle Initiatives

The Paypers

UK-based Ozone API has announced its partnership with Thistle Initiatives to allow FIs to implement PSD3 and achieve fast Open Banking compliance.

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Pathward Bank to pay more than $700,000 for compliance failure

American Banker

The Office of the Attorney General in New York says the bank violated the state's Exempt Income Protection Act, illegally transferring customers' money to debt collectors.

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Snowdrop and PwC augment digital banking in the Middle East

The Paypers

Snowdrop Solutions has partnered with PwC Middle East to bring its Transaction Enrichment API to banks and payment providers in the Middle East.

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Wall Street bank leaders hail IPO market's budding revival

American Banker

Companies going public in the first quarter globally raised $27.8 billion, a 10% jump from the same period in 2023, according to data compiled by Bloomberg.

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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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Nium becomes a Financial Service Provider in New Zealand

The Paypers

US-based payments provider Nium has announced its official registration as a Financial Services Provider in New Zealand.

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Freddie Mac would buy home equity loans under FHFA proposal

American Banker

The plan that the Federal Housing Finance Agency floated calls for Freddie Mac to actively invest in some new closed-end seconds as cash-out refinancing subsides.

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Onbe and ScrapRight revolutionize scrap yard payouts

The Paypers

Onbe , a corporate payouts platform, has announced a partnership with recycling management software company ScrapRight.

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Master the Four Levels of USPs [VIDEO]

The Emmerich Group

What if you can use extreme differentiation to get 150 basis points or more on the loan side and improve your deposit pricing at the same time? If you’re the kind of leader who feels strongly that you can’t follow the herd and believes that net interest margin compression is inevitable, you’re going to love this. Or if you have some lenders who get premium pricing but are frustrated that others still fall back to rate matching, you’ll want to watch this.

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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.