South Carolina embraces new EWA law
Payments Dive
MAY 23, 2024
This week, South Carolina became the fifth state to enact a law regulating earned wage access providers, but it doesn’t subject them to lending laws.
Thu.May 23, 2024
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Selling England (no longer) by the pound: currency-mismatches and the dollarisation of UK exports
BankUnderground
MAY 23, 2024
Marco Garofalo, Giovanni Rosso and Roger Vicquery Most international trade is denominated in dominant currencies such as the US dollar. What explains the adoption of dominant currency pricing and what are its macroeconomic implications? In a recent paper , we explore a rare instance of transition in aggregate export invoicing patterns. In the aftermath of the depreciation that followed the Brexit referendum in 2016, UK exporters progressively shifted to invoicing most of their exports in dollars
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Let’s avoid legal patchwork for credit card surcharging
Payments Dive
MAY 23, 2024
“All parties in the payments ecosystem would benefit greatly from state laws that provide clarity and consistency between jurisdictions,” write two legal professionals.
Modernize or Optimize? That Is the Core System Question
Gonzobanker
MAY 23, 2024
It’s “leave your emotions at the door” time when making a core system decision. Esteemed Gonzo readers, let’s get right to one of the core challenges in banking. Every financial institution needs to get real, tangible returns on every technology investment it makes, and core systems are a critical piece in increasing or hurting these returns.
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.
Bank survey: Military families cite low income, inflation as financial product challenges
ABA Community Banking
MAY 23, 2024
Roughly 30% of military families cite low income and lack of stability as a “primary challenge” they face with their current financial products and services, according to a new survey by the Fort Leavenworth, Kansas-based Armed Forces Bank. The post Bank survey: Military families cite low income, inflation as financial product challenges appeared first on ABA Banking Journal.
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Eagle in Maryland gains 'flexibility' to raise capital after loss
American Banker
MAY 23, 2024
The bank took a big hit on an office property in Washington, D.C., during the first quarter. This month, it filed a shelf registration statement for an offering of up to $150 million that could be used to bolster capital or refinance debt.
Ally Financial eyes AI-based inventory recommendations
BankInovation
MAY 23, 2024
Ally Financial is continuing to invest in technology and generative AI to offer improved car sale recommendations and inventory options for dealers.
Visa's flexible credential: A boon for the Capital One-Discover deal?
American Banker
MAY 23, 2024
New technology decoupling payment cards from the funding source of the transaction would stimulate competition between card issuers and networks — and raise prospects for Capital One's proposed $35 billion acquisition of Discover Financial Services.
eToro and Arabesque AI launch Sharia-compliant AI-based portfolio
The Paypers
MAY 23, 2024
Trading and investment platform eToro has partnered with Arabesque AI to launch a new Sharia-compliant portfolio for users in the Middle East.
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
American Banker news quiz: May 23
American Banker
MAY 23, 2024
In this week's edition of the American Banker news quiz, see how well you know current items about the Federal Deposit Insurance Corporation, mergers and acquisitions, the Consumer Financial Protection Bureau and more.
Google Pay launches three new payment features
The Paypers
MAY 23, 2024
Google Pay has announced the launch of three new features that aim to provide customers with an optimised and secure checkout experience.
Instantaneous settlement is possible. In fact, it's just the start.
American Banker
MAY 23, 2024
The SEC's pending requirement that securities trades settle within one day shouldn't be a problem for any modern financial firm. What we should be aiming for is real-time settlement.
ABA Foundation reaches financial education milestone with 1,000 participating banks
ABA Community Banking
MAY 23, 2024
The ABA Foundation announced that DeKalb, Mississippi-based Commercial Bank became the 1,000th bank to participate in its free financial education programs. The post ABA Foundation reaches financial education milestone with 1,000 participating banks 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.
A Beginner's Guide to Knowing Construction Loan Interest Rates
Commercial Lending USA
MAY 23, 2024
Commercial Lending USA put together this detailed guide to help people who want to borrow money learn more about construction loan interest rates.
TD's U.S. expansion plans called into question amid regulatory troubles
American Banker
MAY 23, 2024
Executives at the Toronto-based bank said last year that they planned to add 150 branches in the United States. But when pressed on Thursday, they could not say how much they'll scale back their ambitions due to investigations over TD's anti-money laundering practices.
UnaFinancial joins forces with JSCB Microcreditbank
The Paypers
MAY 23, 2024
Digital financial solutions provider UnaFinancial has partnered with JSCB Microcreditbank to deliver instalment loans to micro-entrepreneurs with 3, 6, and 9-month repayment terms.
Uninsured bank on track for Fed master account approval
American Banker
MAY 23, 2024
Numisma Bank, a de novo bank backed by former Federal Reserve Vice Chair Randal Quarles, is the first bank without deposit insurance to be granted conditional approval under the Fed's new master account application framework.
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.
Finastra selected by LGT to implement instant payment services
The Paypers
MAY 23, 2024
Finastra , a provider of financial software applications and marketplaces, announced its selection by LGT to implement instant payment services in Austria and Liechtenstein.
'I care what your values are': Morgan Stanley's Gorman
American Banker
MAY 23, 2024
The outgoing CEO, now executive chairman of the Wall Street firm, told a conference at the Federal Reserve Bank of New York this week that cultural values are a critical element in any prospective merger or acquisition deal.
Synctera introduces BYOB
The Paypers
MAY 23, 2024
US-based Banking-as-a-Service platform Synctera has announced the launch of the Bring Your Own Bank (BYOB) model, intending to improve the customer experience further.
Comerica reaches governance agreement with OCC over compliance issues
American Banker
MAY 23, 2024
An agreement with the Office of the Comptroller of the Currency will require Dallas-based Comerica Bank to institute a list of corrective actions regarding a range of compliance issues, including wealth management, third-party risk and financial accounting.
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.
KBank integrates Visa Credit Card with Google Pay
The Paypers
MAY 23, 2024
Thailand-based KASIKORNBANK (KBank) has expanded its mobile payment service by integrating its KBank Visa Credit Card with Google Pay in the Google Wallet app.
RBC to use AI to understand customer intent and recommend products
American Banker
MAY 23, 2024
The bank plans to use artificial intelligence to make recommendations based not just on transaction analysis, but on shopper intent and behavioral data.
DNA Payments joins forces with SUNMI
The Paypers
MAY 23, 2024
UK-based payments provider DNA Payments has partnered with SUNMI to solidify both companies’ presence in the UK and expand their solution offering.
McHenry demands Gruenberg testify on FDIC toxic culture
American Banker
MAY 23, 2024
House Financial Services Committee Chair Rep. Patrick McHenry, R-N.C., told Federal Deposit Insurance Corp. Chairman Martin Gruenberg to make himself available for a June 12 hearing on the agency's workplace culture.
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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