Fri.Aug 09, 2024

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Wall Street banker bonuses forecast to rise 35% this year

TheGuardian

Surge caused by rebound in market activity very likely to influence payouts for European outposts of banks Bonuses for Wall Street’s investment bankers are forecast to jump as much as 35% this year – although experts have warned that payouts could be knocked by stock market volatility and an economic slowdown in the US. Fresh predictions suggest that staff across a range of financial firms – including hedge funds, asset managers and investment banks – will see payouts rise for the first time in

US 94
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Shift4 strives to become ‘SpaceX of payments’

Payments Dive

Recent acquisitions and an expanded roster of clients that includes several sports teams are intended to help Shift4 dominate the payments space, the CEO said.

Payments 397
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Central bank balance sheet policies and the market for reserves

BankUnderground

Michael Kumhof and Mauricio Salgado-Moreno While ‘unconventional’ balance-sheet policies like quantitative easing (QE) and quantitative tightening (QT) appear to have been successful, it is difficult to separate their macroeconomic and financial stability implications from those of other polices. Hence, in a recent paper , we develop a theoretical framework, focusing on the central bank’s liabilities, that sheds light on these implications.

Policies 115
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Capital One-Discover antitrust concerns may be overblown

Payments Dive

Capital One’s proposed acquisition of the smaller Discover seems “too small to be a core antitrust concern,” said Barry Barnett, an antitrust lawyer.

Capital 363
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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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Bank buyers ramp up in July, raise expectations for more M&A

American Banker

The pace of deal activity in 2024 is ahead of a year earlier, thanks in large part to summer momentum and a spate of all-stock deals. But an early August market rout created a new hurdle for dealmaking in the second half of the year.

More Trending

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How to deploy, manage an ITM

ATM Marketplace

Today's episode of the Bank Customer Experience Summit podcast takes a deep dive into ITM strategy.

How To 99
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Why August is one of the most dangerous months in the financial calendar

TheGuardian

Historically, crises have often erupted in late summer, which is why this week’s mini crash set alarms ringing Fears of a recession in the US. The biggest one-day fall on the Japanese stock market since 1987. Policymakers away on their summer breaks, leaving their deputies in charge. All familiar enough territory for August – one of the most dangerous months in the economic and financial calendar.

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TD Bank sees future opportunity for Tap to Pay

BankInovation

TD Bank largely innovates based on customer feedback and lately it has discovered an opportunity for larger companies to use its Tap to Pay for iPhone offering. “There’s so much opportunity from a tap-to-pay solution perspective,” Paul Margarites, head of commercial digital platforms at TD Bank, told Bank Automation News.

Apple 72
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The evolution of banking as a service is at an inflection point

American Banker

In short, if the early days of BaaS were driven by market opportunity, the coming days of BaaS will be driven by the operational apparatus and software to acquire and manage that opportunity.

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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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ClearBank wins license allowing fintech to expand across europe

BankInovation

ClearBank Ltd. said it received a banking license allowing the fintech to offer real-time clearing and settlement services to clients across Europe, marking the UK company’s first step toward global expansion. The European Central Bank authorized the permit, under the supervision of De Nederlandsche Bank, ClearBank said in a statement Friday.

Fintech 69
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How Mastercard is easing the pain of payment for medical tourism

American Banker

International health care is a fast-growing multi-billion dollar industry combining two of the most complex transactions to process: travel and medicine. The card network says its technology builds a foundation to tackle the problem.

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Treasury to replace checks with FedNow payments

BankInovation

The U.S. Federal Reserve’s FedNow platform has exceeded expectations in its first year, expanding its reach to 10% of financial institutions, so far.

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Oportun works to reduce loan charge-offs, plans to sell card portfolio

American Banker

The consumer lender has signed a non-binding letter of intent to sell its credit card portfolio, which will simplify its business to personal loans and automated savings.

Cards 78
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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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Visa introduces Future of Retail roadmap for Saudi Arabia

The Paypers

Visa has introduced its Future of Retail Roadmap for Saudi Arabia to provide local businesses with expanded and simplified services to meet these evolving demands.

Retail 41
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Beneficial State Bank joins consumer groups in opposing CRA lawsuit

American Banker

Beneficial State Bank — which was joined by various civil rights groups — said in an amicus brief that the regulatory reforms are much-needed and that banking groups' legal challenge to the Community Reinvestment Act rules should be dismissed.

Groups 53
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CloudPay secures USD 120 mln in funding

The Paypers

Global payroll solution provider CloudPay has closed a USD 120 million funding round led by Blue Owl Capital to expand its customer base and enable future growth.

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City National Bank of Florida's new biz, Orrstown Financial downsizes

American Banker

City National Bank of Florida is starting a national capital markets division, Orrstown Financial will close branches in Pennsylvania and Maryland, JPMorgan Chase announces in-store biometric payments and more in this week's banking news roundup.

Florida 41
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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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Thunes and Alipay+ simplify payments for Paris merchants

The Paypers

Thunes , a global provider of cross-border payment solutions, has enabled merchants in Paris to accept payments from 15 international e-wallets and mobile partners via Alipay+.

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Deposit pain eases for banks as Fed rate cut nears

American Banker

Banks are testing the waters on paying depositors lower interest rates, and analysts expect they're due for a bigger breather when the Fed takes action. It's a welcome shift for banks, after competition for deposits forced them to pay up.

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Checkout.com partners with Google Pay for authentication integration

The Paypers

Checkout.com has announced its role as the first payment provider to collaborate with Google Pay on integrating biometric-based secure payment authentication for merchants.

Google 36
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Activist investor to New York's Flushing: Consider a sale

American Banker

On the heels of a recent downgrade by one analyst, the Uniondale, New York-based Flushing is being challenged by veteran investor Larry Seidman to consider a sale of the company.

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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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Switchere adds Apple Pay and Google Pay as payment methods

The Paypers

Switchere , a European cryptocurrency exchange service, has integrated Apple Pay and Google Pay as new payment methods.

Google 45
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Largest Corporate Client/User Events in Financial Services Technology Industry

Fintech Labs Insights

A major part of the conference ecosystem is events organized by financial services industry suppliers, primarily tech companies. They are typically referred to as client, user or developer events. We estimate that there are more than 100 globally each year. The curated list below includes the 3 dozen most prominent ones. Some are massive, such as Fiserv and FIS, which attract 3,000 to 4,000 attendees.

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BSP to issue new digital bank licences starting January 2025

The Paypers

The Bangko Sentral ng Pilipinas (BSP) has announced that it will lift the moratorium on the issuance of new digital banking licenses starting from 1 January 2025.

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New York Lawmakers urge NY Home Loan Bank to adopt fairer credit models

American Banker

New York Democrats Ritchie Torres and Gregory Meeks called on the New York home loan bank to follow the lead of its peers and use alternative credit scoring models for collateral to improve consumers' access to homeownership.

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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.