Fri.May 24, 2024

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You Don’t Need Modern Fintech Products … You Need Extensible Products

Jack Henry

What’s more extensible than a product that allows you to solve a variety of use cases by combining components to suit your needs? Click to learn more.

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Cash App aims to add more features

Payments Dive

Block’s Jack Dorsey wants to improve Cash App’s customer service experience in order to entice more users to make it their primary bank, he said this week.

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How to prepare for FedNow: 5 Steps for your financial institution

Abrigo

Make FedNow work for your bank or credit union. The FedNow Service enables community financial institutions to stay competitive by meeting instant payment demands. Implement it smoothly with these tips on preparing for FedNow. Would you like other articles like this in your inbox? Takeaway 1 Implementing the FedNow Service can help reduce interbank obligations, expand market reach, and enhance customer experiences.

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Walmart and Capital One break up

Payments Dive

The retail behemoth and its credit card issuer said in a terse, joint press release Friday that they’re parting ways.

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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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Inside look: Synchrony’s AI training strategy

BankInovation

Synchrony Financial is investing in training its employees on emerging technology, with a focus on AI and automation. Training options include “technology certifications mapped to critical skills in areas like cybersecurity, software engineering and UX design,” Tim Christensen, senior vice president of product, digital, innovation and AI at Synchrony, told Bank Automation News.

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FedNow, RTP interoperability is inevitable — down the line

BankInovation

The Clearing House’s Real Time Payments network and The Federal Reserve’s FedNow network are prepared to tackle interoperability eventually — but for now, its value remains minimal.

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Home Loan bank dividends are not 'excessive.' They're oddly low.

American Banker

Analyzed from a property rights perspective, the dividends paid by the Federal Home Loan banks to their members are surprisingly stingy, and vary wildly between the different banks.

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Coventry Building Society finalises £780m deal for Co-operative Bank

TheGuardian

Agreement will create lender with almost 5m customers and £89bn balance sheet The Co-operative Bank is to return to its mutual roots after Coventry Building Society confirmed that it will acquire the bank from its hedge fund owners for £780m. The deal has now been finalised after Coventry said it had made a non-binding cash offer for the bank last month that will create a lender with almost 5 million customers and an £89bn balance sheet.

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SEC approval of Ether ETFs acknowledges Ether is a commodity | Elon Musk’s xAI raise nearly $6 | JPMorgan to give AI training to all new hires

Bussman Advisory

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 SEC approval of Ether ETFs acknowledges Ether is a commodity | Elon Musk’s xAI raise nearly $6 | JPMorgan to give AI training to all new hires appeared first on Bussmann Advisory AG.

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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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Nursing Home CMS Staffing Mandate: What is it and how can operators prepare?

PopularBank

By Andrew Boland – Director of National Healthcare Financing, Popular Bank A minimum staffing standard for nursing homes across the country was unveiled last month, raising concerns from operators and industry leaders over the impact the mandate will have on their ability to maintain adequate access to long-term care. Nearly all nursing homes (14,340 out of about 14,500 facilities that receive federal funding) are understaffed according to the new mandate.

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The NYCB-Signature deal was a spectacular regulatory failure

American Banker

There were significant red flags that regulators overlooked when allowing New York Community Bank to acquire Signature Bank. Those include the fact that the company was still integrating the Flagstar Bank transaction.

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Capchase secures EUR 105 mln credit facility led by Deutsche Bank

The Paypers

Capchase , a revenue acceleration platform catering to Software-as-a-Service (SaaS) companies, has recently secured a EUR 105 million credit facility warehouse led by Deutsche Bank.

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Inside the shady world of cyber weapons

American Banker

In "This Is How They Tell Me the World Ends," Nicole Perlroth, a former New York Times reporter, offers a detailed picture of how the zero-day exploit trade developed and affects critical infrastructure.

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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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Revolut expands business services to sole traders in Australia

The Paypers

UK-based superapp Revolut has expanded its Business product to include sole traders in Australia, enhancing financial solutions for small businesses.

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Construction Loan Calculator for Your Commercial Property Needs

Commercial Lending USA

To build your commercial property, you need a construction loan calculator.

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US House approves new regulation bill in a win for crypto

The Paypers

The United States House of Representatives has voted 279-136 to approve the Financial Innovation and Technology for the 21st Century Act (FIT21).

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First Federal reorganizes, Regions wins presidential award

American Banker

First Federal Bank of Kansas City finalized a plan to reorganize its corporate structure; Regions Bank in Birmingham, Alabama, was one of 10 to win the "President's 'E' Award for Export Service"; Rhode Island-based Citizens Financial Group named Jim Weiss as Florida market president; and more in this week's banking news roundup.

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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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TotallyMoney launches TotallySure for car finance

The Paypers

UK-based TotallyMoney has launched TotallySure to revolutionise car finance with pre-approval, guaranteed rates, loans, and terms, increasing transparency and trust.

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Regulators thought too narrowly in OK of NYCB-Signature deal

American Banker

New York Community Bank's acquisition of the failed Signature Bank helped with its liquidity. But there were other considerations that decisionmakers overlooked in allowing the transaction to take place.

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SilverRock secures banking licence

The Paypers

UK-based SilverRock Bank has announced that it secured its banking authorisation from the Prudential Regulation Authority after receiving GBP 50 million in funding.

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Counterpoint: Why NPS and Surveys Don’t Suck

The Financial Brand

This article Counterpoint: Why NPS and Surveys Don’t Suck appeared first on The Financial Brand. The Financial Brand recently argued that these common customer feedback tools have little value. We disagree — here's why. This article Counterpoint: Why NPS and Surveys Don’t Suck appeared first on The Financial Brand.

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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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PPRO joins forces with Afterpay

The Paypers

UK-based PPRO has entered a collaboration with Afterpay to provide US, Europe, China, and Hong Kong-based ecommerce merchants and PSPs with additional capabilities.

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Apple launches Tap to Pay on iPhone in the region of Canada

The Paypers

Apple has announced the launch of its Tap to Pay on iPhone service in the region of Canada in order to optimise the payment experience for customers and clients.

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Boodil launches new travel payments platform

The Paypers

Boodil has announced the launch of its new specialised payments platform developed for the travel industry, in collaboration with ‘ The Advantage Travel Partnership ’

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Intercontinental Exchange to pay USD 10 mln penalty over cyber intrusion

The Paypers

Intercontinental Exchange has been fined a USD 10 million penalty to settle charges its subsidiaries allegedly failed to immediately alert the SEC of a cyber intrusion incident.

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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.