Jack Henry
OCTOBER 11, 2023
Financial crimes like fraud, money laundering, and embezzlement pose significant threats to the integrity and stability of our payments and financial systems. Financial crimes not only result in substantial losses but also erode public trust in financial institutions.
Payments Dive
OCTOBER 11, 2023
The issuing-processing fintech is pursuing tie-ups with Deloitte, PwC and other big advisory firms to further its growth globally.
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BankUnderground
OCTOBER 11, 2023
Kathleen Blake Artificial intelligence (AI) is an increasingly important feature of the financial system with firms expecting the use of AI and machine learning to increase by 3.5 times over the next three years. The impact of bias, fairness, and other ethical considerations are principally associated with conduct and consumer protection. But as set out in DP5/22 , AI may create or amplify financial stability and monetary stability risks.
Payments Dive
OCTOBER 11, 2023
“We have got more in the pipeline and there are various estimates that could range from 250 to 350 by the end of the year, and they just continue to grow as banks do it,” the central bank governor said at a recent payments event.
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Most people dread the nearing of the month-end close and reconciliation process, and who can blame them? It's typically a tedious, long, stressful process; but it doesn't have to be. Implementing automation into your month-end process can significantly reduce this headache by automating up to 40% of your reconciliation and saving nearly 30% of your time spent.
Realwired Appraisal Management Blog
OCTOBER 11, 2023
As a Chief Appraiser, what does your boss think of your performance? Do they see you as a cost center or a valued C-Suite professional being a lighthouse helping their bank navigate current challenges? Cows huddle during a storm, bulls choose to run through it. Ironically, the bulls get through the storm quicker.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
CFPB Monitor
OCTOBER 11, 2023
As we have previously reported on this blog and discussed on our Consumer Finance Monitor Podcast , last year, the CFPB embarked on a campaign orchestrated by the Biden Administration to eliminate “junk fees.” Today, the CFPB issued three new items in connection with those efforts. First, the CFPB issued a new advisory opinion on fees charged by large banks and credit unions subject to CFPB supervision (i.e.
American Banker
OCTOBER 11, 2023
The job cuts came after CEO Bill Demchak said in July that he was "taking a hard look" at opportunities to reduce expenses. PNC joins a growing list of banks that have laid off workers amid declining growth prospects.
CFPB Monitor
OCTOBER 11, 2023
The CFPB has released a new issue of Supervisory Highlights that carries the title “Junk Fees Update Special Edition.” The report discusses the CFPB’s examinations involving fees in the areas of deposits, auto servicing, and remittances that were generally completed between February 2023 and August 2023. The report updates the CFPB’s “Junk Fees Special Edition” of Supervisory Highlights issued in March 2023. .
American Banker
OCTOBER 11, 2023
The Financial Conduct Authority issued 146 alerts on crypto asset marketing, multiple payment companies in Canada are trying to spur adoption of open banking, and more.
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CFPB Monitor
OCTOBER 11, 2023
As part of the White House’s latest round of efforts targeting so-called “junk fees,” the Federal Trade Commission has issued a proposed rule , “Rule on Unfair or Deceptive Fees.” The proposal follows the FTC’s issuance in October 2022 of an Advance Notice of Proposed Rulemaking to address “junk fees,” a term that was used in the ANPR Notice to refer to “unfair or deceptive fees that are charged for goods and services that have little or no added value to the consumer.” .
American Banker
OCTOBER 11, 2023
Jeffrey Brown, who's been Ally Financial's top executive for nearly nine years, plans to leave the company by early next year. His exit comes as deteriorating credit quality and rising interest rates are biting into Ally's profits.
BankInovation
OCTOBER 11, 2023
As AI investment soars, financial institutions that share their AI strategies publicly are performing better than those keeping their efforts under wraps. A report released this month by research company Evident Insights found that banks with strong AI communication strategies outperform their peers in stock price performance.
American Banker
OCTOBER 11, 2023
The Securities and Exchange Commission has been ordered by a court to explain its reasons for rejecting an application for a crypto-based exchange-traded fund. It's about time.
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.
BankInovation
OCTOBER 11, 2023
Citigroup will sell its consumer wealth portfolios in China to HSBC for $3.6 billion, the bank said Monday. The sale, which includes Citi’s clients, assets under management and deposits is part of the bank’s plan to wind down its consumer banking business in China as part of its broader restructuring, Citi said in an Oct.
American Banker
OCTOBER 11, 2023
Corporate One Federal Credit Union is working with CU*Answers to simplify other credit unions' integration with The Clearing House's RTP network.
The Paypers
OCTOBER 11, 2023
GoDaddy has partnered with Paze in order to optimise the manner in which US-based small businesses improve their customers’ checkout experience and close more sales.
American Banker
OCTOBER 11, 2023
Central Valley Community Bancorp's agreement to buy Community West Bancshares, slated to close in the second quarter, would create a $3.6 billion-asset bank in the Greater Sacramento region.
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Now is the time for lenders to prioritize their digital transformation initiatives in preparation for the lending rebound. Rising competition and ever-increasing customer demands for speed and efficiency are forcing financial institutions to embrace digital transformation. This shift can feel overwhelming—where do you begin? This infographic illustrates automation demands and shows you how loan document automation serves as an essential step to increase profits and provide the best lending exper
The Paypers
OCTOBER 11, 2023
Razorpay has launched a payment infrastructure called Optimizer, an AI-powered system to protect businesses from annual losses of over USD 841 million due to transaction failures.
American Banker
OCTOBER 11, 2023
The fintech Brex is among a growing market of companies using generative artificial intelligence to simplify how employee trips are managed.
The Paypers
OCTOBER 11, 2023
Cross-border neobank, Zolve , has secured a warehouse debt facility of USD 100 million from US-based impact investor, Community Investment Management (CIM).
American Banker
OCTOBER 11, 2023
Consumer Financial Protection Bureau Director Rohit Chopra said it is enforcing a long-dormant provision of Dodd-Frank in its advisory opinion prohibiting banks from charging fees to obtain basic account information.
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In this report, you’ll find a comprehensive analysis of survey responses from executives at banks, credit unions, and insurance companies concerning their organization’s current and future use of automation. The report’s key insights include: Which types of automation are saving organizations the most time and money How to overcome the biggest barriers to automation implementation and adoption Why automation investments will continue to grow over the next few years How much you could save in 202
The Paypers
OCTOBER 11, 2023
Money API services provider Sila has announced a partnership with US-based trust company Fortress Trust to elevate the fintech industry with advanced payment and custodial services.
American Banker
OCTOBER 11, 2023
The company now has 35 million users worldwide and launched new features this summer that include automated investing and expanded account access for non-citizens living in the U.S. But the features come amid controversies at the fintech.
The Paypers
OCTOBER 11, 2023
US-based Citi has launched its agented syndicated loans on Versana ’s transformative digital data platform, making them available for the latter’s subscribers.
American Banker
OCTOBER 11, 2023
Tradeshift Holdings has dismissed its co-founder Christian Lanng due to "serious allegations of sexual assault and harassment" and "gross misconduct on multiple grounds," the company says. Lanng denies the allegations.
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Commercial lending is on the verge of a resurgence, but traditional processes are an obstacle. Explore the top 3 reasons for resistance to digital transformation and how overcoming them can pave the way for growth and efficiency. Discover why embracing automation and digital solutions is crucial for success in today's competitive landscape. Discover how GoDocs helps commercial lenders in the digital era with seamless integration and a borrower-focused approach.
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