Payments Dive

JANUARY 30, 2024

The digital payments company plans to cut about 2,500 jobs, according to multiple news reports, shrinking the company as it seeks to jump-start profitable growth.

Report 243

Report Company Payments 243

Perficient

JANUARY 30, 2024

Our success at Perficient emanates from the dedication of our team. We take immense pride in recognizing that our committed individuals propel innovation and drive change within our industry. Every voice within our organization holds significance, none more so than Carolyn Lee , a Project Manager (PM) in our Financial Services business unit and a leader in Perficient’s Risk and Regulatory Center of Excellence (CoE).

Innovation 221

Innovation Risk Management Meeting Management 221

Payments Dive

JANUARY 30, 2024

If the state’s buy now, pay later legislation passes, new requirements piling on additional compliance burdens may lead some providers to pull their operations in New York, attorneys said.

New York 221

New York Compliance Operations 221

South State Correspondent

JANUARY 30, 2024

Times are tough. Banks are under pressure to find ways to increase earnings against a backdrop of slower increases in earning assets and quickly rising deposit and credit costs. As such, bank budgets have come under scrutiny. We recently conducted a small sample poll, and out of 21 banks, budgets were down an average of 14% for this year. Marketing and technology (IT) are two budgets that have taken the most significant hit.

Capital 195

Capital Operations Customer Experience Comparison 195

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Remote Deposit Capture (RDC) clients are more likely to use additional treasury services and maintain larger deposits. However, poor customer experiences—particularly if they delay deposits—can compel RDC clients to take their business elsewhere. This eBook makes the case for outsourcing RDC operations to a proven managed services partner. This approach helps Treasury Departments with limited resources provide excellent client experiences that result in higher retention and productivity rates.

Operations

Payments Dive

JANUARY 30, 2024

Payments players can expect this year to be heavy with regulatory and legislative moves, both at the federal and state levels.

Regulation 221

Regulation Payments 221

Payments Dive

JANUARY 30, 2024

Contrary to recent reports, grocers aren’t pulling machines from their stores in droves. But they know there’s significant work to be done to improve the experience and reduce shrink.

Strategy 195

Strategy Report 195

Abrigo

JANUARY 30, 2024

Why you'll want to register for the ThinkBIG conference Recommended by your peers at other financial institutions, the ThinkBIG conference hosted by Abrigo fosters networking and professional development. Get your ticket now for ThinkBIG, an industry-leading learning and networking event. REGISTER Takeaway 1 Banking and compliance professionals rely on ThinkBIG to elevate their understanding of industry shifts and regulatory pressures.

Conference 195

Conference Arizona Phoenix Fraud 195

CFPB Monitor

JANUARY 30, 2024

Maryland has joined the ranks of states considering legislation that would codify elements of “true lender” theory in an effort to impose federally preempted state licensing requirements and rate caps on loans to Maryland residents. House Bill 254 (HB 254), introduced on January 10, 2024 in the Maryland House of Delegates, would add Subtitle 15 – the “True Lender Act” – to Title 12 (Credit Regulations) of the Maryland Commercial Law.

Maryland 148

Maryland Regulation 148

BankInovation

JANUARY 30, 2024

Graphics processing units on today’s computers can only hold so much capacity — and financial institutions are looking to quantum computing to process ever-growing data sets and turbocharge AI.

Analytics 127

Analytics Data Marketing Company 127

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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.

Groups

CFPB Monitor

JANUARY 30, 2024

The Department of Justice (DOJ) announced that Patriot Bank (Patriot or Bank) has agreed to pay $1.9 million to resolve allegations that the Bank engaged in a pattern or practice of redlining majority-Black and Hispanic neighborhoods in Memphis, Tennessee from 2015 to at least 2020, in violation of the Fair Housing Act (FHA) and the Equal Credit Opportunity Act (ECOA).

Memphis 125

Memphis Tennessee Lending 125

BankInovation

JANUARY 30, 2024

Technology and innovations advanced in leaps and bounds in 2023, including enhancements to AI, the introduction of generative AI and investment in data analytics.

Fraud 121

Fraud Data Analytics Innovation 121

ATM Marketplace

JANUARY 30, 2024

With AI, ATM operators can identify ahead of time potential device faults and either make the fixes remotely or schedule maintenance. It can also detect potential attacks, either physical or software.

ATM 116

ATM Operations Software 116

ABA Community Banking

JANUARY 30, 2024

Credit unions are swallowing up tax-paying banks at an alarming rate, using the tax break lawmakers granted them to serve people of modest means. Following a record 16 credit union bank buys announced in 2022, credit unions’ share of total bank purchases hit an all-time high last year. The post Bank buys raise questions about the ‘credit union difference’ appeared first on ABA Banking Journal.

Taxes 115

Taxes Community Bank Policies Community 115

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Community Bank

TheGuardian

JANUARY 30, 2024

Regulator says bank failed to properly implement Financial Services Compensation Scheme Business live – latest updates HSBC has been fined £57m by the Bank of England’s financial stability arm for failing to protect customer deposits in the event of a banking collapse. It is the second-highest fine imposed by the Bank’s Prudential Regulation Authority (PRA) and reflects the seriousness of the failings, the watchdog said.

Regulation 94

Regulation 94

Jack Henry

JANUARY 30, 2024

Manual – it's a word that business owners and factors are attempting to erase not only from their businesses but also their lips! Manual efforts create human errors that cost time and money. For years, much of the financing industry has relied on manual methods, but as technology advances, so must the industry.

Industry 88

Industry Technology Lending 88

American Banker

JANUARY 30, 2024

The institution is investing more in analytics as it faces pressure from rival banks and fintechs using automation to attract cost-conscious treasurers.

America 83

America Analytics Data Fintech 83

William Mills

JANUARY 30, 2024

According to Insider Intelligence, Gen Z now makes up 27% of the United States population. While this generation can be broadly defined, it often encompasses those born between the years of 1997 and 2012. This would make the oldest members of the population around 26-years-old. A common misconception is that Gen Z are teenagers and children, and while some are, a large majority of the population are well within adulthood.

United States 80

United States Strategy 80

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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.

Lending

American Banker

JANUARY 30, 2024

The megabank failed to adequately protect and reimburse customers who were victims of wire-transfer fraud, according to a lawsuit by the New York Attorney General. Citi said that it follows all relevant laws and regulations.

New York 78

New York Fraud Regulation Compliance 78

CFPB Monitor

JANUARY 30, 2024

On September 9, 2014, then-Governor Jerry Brown of California signed into law Assembly Bill No. 2365. The law, which went into effect in January of 2015, prohibits contracts for the sale or lease of consumer goods from including a provision waiving the consumer’s right “to make any statement regarding the seller or lessor or its employees or agents, or concerning the goods or services.”.

California 78

California Regulation 78

American Banker

JANUARY 30, 2024

The neobank doubled its membership to five million consumers and hired 200 people last year. Founder and CEO Renaud Laplanche explains how it fared during a time when many fintechs struggled.

Fintech 78

Fintech 78

The Paypers

JANUARY 30, 2024

US-based BNY Mellon has introduced Virtual Account-Based Solutions, enhancing clients’ cash management with improved access, control, and reporting for global treasurers.

US 45

US Management Report 45

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Analysis

American Banker

JANUARY 30, 2024

The deal involving Southern California Bancorp and California BanCorp, expected to close in the third quarter, would form a $4.6 billion-asset lender with a footprint spanning San Diego, Greater Los Angeles and the San Francisco Bay Area.

California 69

California San Diego Los Angeles San Francisco 69

The Paypers

JANUARY 30, 2024

Netherlands-based neobank bunq has announced its plan to expand in the region of the UK, after submitting an application for an EMI licence in the area.

Regional 45

Regional 45

American Banker

JANUARY 30, 2024

PayPal, which employed around 29,900 workers at the end of 2022, announced a similar round of cuts last January.

Marketing 69

Marketing Industry Payments 69

The Paypers

JANUARY 30, 2024

UK-based financial crime platform Themis has announced the expansion of its financial crime risk management cloud service hosted in Saudi Arabia.

Risk Management 41

Risk Management Management 41

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