FIS eyes growth via acquisitions
Payments Dive
MAY 16, 2024
Fidelity National Information Services is targeting revenue growth of as much as 4.5% this year as it scans the landscape for “tuck-in” acquisitions following the spin-off of Worldpay.
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Leverage finds a way: a comparison of US Treasury basis trading and the LDI event
BankUnderground
MAY 16, 2024
Adam Brinley Codd, Daniel Krause, Pierre Ortlieb and Alex Briers We both drive cars, but the US drives on the right while the UK drives on the left. We both walk, but we do so on sidewalks in the US and pavements in the UK. We both have asset managers, who want to take leveraged positions in interest rates. US asset managers had around US$650 billion of long treasury futures in June 2023.
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Supreme Court upholds CFPB’s funding structure
Payments Dive
MAY 16, 2024
The 7-2 ruling puts an end to a case that threatened the bureau's existence and pushed at least two federal judges to pause CFPB rules, pending the high court's opinion.
Digital Banking Metrics: Adoption, Usage, and Impact of Digital on Banks and Credit Unions
Gonzobanker
MAY 16, 2024
Digital metrics at banks and credit unions are not all trending up and to the right. But there are some bright spots. A new report on digital banking metrics and the impact that digital banking is having on banks reveals some positive developments, but also a host of troubling trends that should give bank executives cause for concern. The fourth edition of the Digital Banking Performance Metrics study from Cornerstone Advisors, commissioned by Alkami, captures digital banking metrics from banks
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.
Payments firms seek candidates for product, partner roles
Payments Dive
MAY 16, 2024
Industry players are increasingly eager to hire executives for product development and partnership-oriented jobs, according to a report from recruiting firm SpencerStuart.
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EWA could create wage violations, Connecticut warns
Payments Dive
MAY 16, 2024
The warning comes as states and the federal government weigh options for regulating earned wage access products.
The Pivotal Role Accounts Receivables Financing Will Play in the Emerging Economy
Jack Henry
MAY 16, 2024
Soon, we will be back to “normal,” or at least something that resembles it. Promising vaccines are on the horizon. In some states, businesses are reopening. Holiday shopping is even underway. At the same time, millions of US-based businesses are preparing for 2021 and what it may bring. Through the sharp second quarter decline, many industry sectors saw gross revenues drop by more than 40%.
Capital raises were key to these M&A deals. Will more banks follow suit?
American Banker
MAY 16, 2024
UMB Financial, Fulton Financial and Provident Financial Services have recently announced capital raises in connection with M&A deals. "They're setting a precedent," one consultant said.
The Benefits of Early CECL Adoption
Jack Henry
MAY 16, 2024
FASB’s Accounting Standards Update (ASU) No. 2016-13 (more commonly referred to as CECL) was released earlier this year in June. At first look, the implementation dates for CECL are so far out that this project may not rank very high on a management team’s to-do list. Public business entities (PBEs) that are SEC registered have a regulatory reporting effective date March 31, 2020.
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
One in five TD patents are AI-related
BankInovation
MAY 16, 2024
To provide personalized customer experiences, TD Bank is developing AI technology, which has resulted in more patents for the company. “TD has filed more than 450 patent applications in relation to AI [since 2020],” Senior Vice President and Chief Architect Licenia Rojas said on May 15 during TD Tech and Innovation Day.
Supreme Court upholds CFPB's funding in 7-2 decision
American Banker
MAY 16, 2024
The Supreme Court ruled on Thursday that the Consumer Financial Protection Bureau's funding is constitutional and satisfies the requirements of the Appropriations Clause.
Southside Bank automates workflows through Jack Henry
BankInovation
MAY 16, 2024
Southside Bank is looking to Jack Henry’s Enterprise Workflow solution to automate tasks, freeing up human resources and sparking innovation.
Embattled Hawaiian Electric mum on possible bank sale
American Banker
MAY 16, 2024
The utility, under financial pressure following its involvement in the 2023 fires that ravaged Maui, reportedly is considering a sale of its profitable American Savings Banking unit. An executive declined to "speculate on any strategic transactions or alternatives.
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.
The chancellor should ditch the NatWest retail share offer. It’s not needed
TheGuardian
MAY 16, 2024
The Treasury has been quietly selling off the government’s stake at ever-higher prices on a rising market. Why mess with that? The government’s plan to sell shares in NatWest to the general public is so advanced that the odds on the chancellor pulling the plug on a pet project are slim. Investment bankers from Barclays and Goldman Sachs are doing their well-remunerated stuff, and M&C Saatchi is knocking up some adverts.
BNY Mellon has a plan to boost real-time payments in the U.S.
American Banker
MAY 16, 2024
The bank is connecting billers and brokerage accounts as it builds the case for instant funding. It also points to countries such as Brazil and India as models to follow.
Payments industry challenges UK's proposed scam reimbursement mandate
The Paypers
MAY 16, 2024
The payments industry has expressed concerns regarding the UK government's proposal to mandate reimbursement for scam victims.
SEC approval of spot ethereum ETFs would benefit all investors
American Banker
MAY 16, 2024
The Securities and Exchange Commission, having already approved spot bitcoin ETFs, ought to follow through and grant the same approval to spot ethereum funds. Doing so would create a new surge of investment, with positive economic impacts.
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.
Chime launches MyPay
The Paypers
MAY 16, 2024
Chime has announced the launch of MyPay, a low cost offering that allows customers and members to access up to USD 500 of their pay before payday.
TD tests generative AI in contact centers, software development
American Banker
MAY 16, 2024
The work of the TD Invent group and Layer 6 AI, a startup TD bought in 2018, show how innovation teams at large banks can cut through the bureaucracy and fiefdoms that exist in every big company to deploy and scale new technology.
UBS CEO warns of risk from delaying Credit Suisse IT integration | BlackRock Bitcoin ETF surpasses rivals | Banco Santander suffers data breach
Bussman Advisory
MAY 16, 2024
This week’s must-know stories in the FinTech, AI and Digital Asset space. The latest edition of the FinTech Ecosystem Newsletter is here: Image Credits: shutterstock.com The post UBS CEO warns of risk from delaying Credit Suisse IT integration | BlackRock Bitcoin ETF surpasses rivals | Banco Santander suffers data breach appeared first on Bussmann Advisory AG.
Don’t Be a Floppy
Realwired Appraisal Management Blog
MAY 16, 2024
Where were you when you first used rub on subject arrows in an appraisal? How about using double-sided sticky tape to apply subject photos in hard copy reports? Microfiche. Ugh! These three processes seem insane to an appraiser in 2024. Then why are so many appraisers reluctant to invest in modern technology?
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.
Mastercard partners with the Cooperative Bank of Oromia
The Paypers
MAY 16, 2024
Mastercard has announced its partnership with the Cooperative Bank of Oromia in order to launch optimised solutions and boost financial inclusion in Ethiopia.
'Tougher before it gets better': TD faces a long road on AML woes
American Banker
MAY 16, 2024
Executives at the Canadian bank, which recently took a major provision for potential fines, say they're working to shore up anti-money laundering controls. At the same time, they're preparing employees and investors for an expensive slog as they work to satisfy U.S. officials.
Booksy launches Tap to Pay On iPhone
The Paypers
MAY 16, 2024
Global booking platform for beauty services Booksy has enabled Tap to Pay On iPhone for its users, augmenting in-person transactions by turning smartphones into POS terminals.
FDIC's Gruenberg weathers another grueling day in Congress
American Banker
MAY 16, 2024
In a statement to Sen. Tim Scott, R-S.C., the ranking member of the Senate Banking Committee, a number of anonymous Federal Deposit Insurance Corp. employees allegedly expressed doubts that FDIC Chairman Martin Gruenberg could lead the agency through necessary changes to fix workplace issues.
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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