Fri.Jun 07, 2024

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Cash isn't going away, despite declining use

American Banker

In the U.S., the COVID-19 pandemic and other factors caused a sharp reduction in cash use. But with paper bills still accounting for nearly a fifth of all payments, the option is still far too entrenched to risk extinction.

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Illinois heads toward landmark card interchange fee restrictions

Payments Dive

The state may become the first in the nation to outlaw the imposition of credit and debit card interchange fees on state excise tax and tips.

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Banks can't measure climate risk? I live it every day

American Banker

U.S. regulators need to do more to require banks to recognize the risks posed by climate change, and the damage that continuing to support fossil fuel extraction projects does to the environment.

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CFPB finalizes open banking standard-setter rule

Payments Dive

The bureau will consult public interest groups and app developers on open banking standards, and no single special interest can dominate the standards-making process.

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Fall In Love With the Month-End Close

It's the time of year to give our close process some TLC. Join us in this one hour webinar where we discuss how to adopt leading practices and infuse technology into the month-end close process to improve our experience and increase our productivity during month-end and quarter-end close. Learning Objectives: This course's objective is to understand how the month-end close can be improved with automation and adoption of leading practices.

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3 tips to convert your ATMs into ITMs

ATM Marketplace

Want to upgrade your ATM fleet? Here are three easy steps you can take.

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The Results Are In: The Jack Henry™ 2024 Strategy Benchmark

Jack Henry

Explore top insights from Jack Henry's 2024 Strategy Benchmark. Dive into key findings on financial benchmarks such as technology trends, metrics, & more.

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AI speeds Nasdaq fraud investigations by 33%

BankInovation

NEW YORK — The Nasdaq Stock Market index is using AI to streamline its efforts to investigate suspicious trading and anti-money laundering.

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Comerica to settle Direct Express fraud class-action lawsuit for $1.2 million

American Banker

Comerica Bank has agreed to a proposed settlement of fraud claims after denying refunds to Direct Express beneficiaries who alleged money was stolen from their prepaid accounts. In the past month, beneficiaries have been sent postcards announcing the settlement.

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Payments tech a focus for 61% of merchants

BankInovation

AMSTERDAM — Consumers are more likely to interact with a business with a frictionless payment experience in place. Sixty-one percent of merchants say payments is a high area of focus, according to Discover Global Network’s “Payment State of the Union” report, released June 3.

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5 Ways You Can Win Faster with Gen AI in Sales

Incorporating generative AI (gen AI) into your sales process can speed up your wins through improved efficiency, personalized customer interactions, and better informed decision- making. Gen AI is a game changer for busy salespeople and can reduce time-consuming tasks, such as customer research, note-taking, and writing emails, and provide insightful data analysis and recommendations.

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How Apple fell behind in the AI arms race | Deutsche Bank ties up with Bitpanda in crypto shift | Robinhood to buy crypto firm Bitstamp for $200mThis week’s must-know stories in the FinTech, AI and Digital Asset space:

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 How Apple fell behind in the AI arms race | Deutsche Bank ties up with Bitpanda in crypto shift | Robinhood to buy crypto firm Bitstamp for $200mThis week’s must-know stories in the FinTech, AI and Digital Asset space: appeared first on Bussmann Advisory AG.

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NYCB's new leaders face skeptical shareholders in wake of turmoil

American Banker

During New York Community Bancorp's annual shareholder meeting, executives reiterated their mission to restore value in the beleaguered Long Island-based company. Questions from shareholders suggested at least some discontent following a capital influx that significantly diluted their position in the company.

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Allianz introduces new home insurance tiers for UK homeowners

The Paypers

Insurer and asset manager Allianz has unveiled a new three-tier home insurance product in the UK, offering bronze, silver, and gold levels of cover with optional extras.

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How to hire chief data, AI officers while AI moves 'at such a fast clip'

American Banker

Speakers from the Consumer Financial Protection Bureau, JPMorgan Chase and more outlined the ways they are hunting for much-needed technology talent, from pooled efforts to recruiting outside of the country.

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The Role of Automation in Commercial Lending

Automation is changing the game for commercial lenders, offering a clear path to competitive advantage in 2025. Rising costs, outdated workflows, and manual data entry slow growth and impact borrower satisfaction. Automation addresses these challenges, reducing costs, speeding up loan cycles, improving accuracy, and elevating borrower experiences. With market uncertainty easing, now is the time to act—waiting until loan volumes rebound leaves lenders unprepared and struggling to compete.

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Klarna and Sainsbury join forces

The Paypers

Klarna has partnered with Sainsbury’s PLC intending to see its payment methods available at the online checkouts of three brands: Argos, Habitat, and TU.

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Sen. Warren: Return FHLBs to housing mission

American Banker

Sen. Elizabeth Warren, D-Mass., a powerful member of the Senate Banking Committee's progressive wing, said that the Federal Home Loan banks have "failed to deliver on their housing and community development mission.

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Majid Al Futtaim taps Checkout.com for seamless payments

The Paypers

UAE-based retail company Majid Al Futtaim has partnered with Checkout.com to offer ecommerce customers secure one-click checkout experiences.

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Robinhood to acquire Bitstamp for USD 200 mln in cash

The Paypers

Robinhood has entered into an agreement to acquire Bitstamp , a global cryptocurrency exchange, in an aim to accelerate Robinhood Crypto’s expansion worldwide.

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10 Ways to Leverage Buyer Signals and Drive Revenue

In today’s ultra-competitive markets, it’s no longer enough to wait for buyers to show obvious signs of interest. Instead, sales teams must be proactive, identifying and acting on nuanced buyer behaviors — often before prospects are fully ready to make a purchase. In this eBook from ZoomInfo & Sell Better, learn 10 actionable ways to use these buyer signals to transform your sales strategy and close deals faster.

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Moneyhub introduces account verification service

The Paypers

Moneyhub , a data and payments platform, has unveiled its account verification service, employing Open Banking technology.

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Hibret Bank and Mastercard launch Prepaid Hibir Mastercard Services

The Paypers

Hibret Bank , together with Mastercard , has announced the launch of the Prepaid Hibir Mastercard services, aiming to enhance digital financial inclusion in Ethiopia.

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MiFinity announces a partnership with FinteqHub

The Paypers

Ireland-based payments provider MiFinity has announced a new partnership with Lithuania-based FinteqHub , a payment gateway developed by SOFTSWISS.

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Affirm adds Pay in 2 and Pay in 30 options

The Paypers

US-based payment network Affirm has added two new Buy Now, Pay Later (BNPL) options.

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Outsource With Confidence for RDC Program Success

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.

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Faster Payments Council releases financial inclusion report

The Paypers

The U.S. Faster Payments Council (FPC) has announced the release of the Faster Payments and Financial Inclusion survey report.

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SpyCloud obtains USD 35 million to tackle account takeovers

The Paypers

Cybersecurity startup SpyCloud has secured USD 35 million in a funding round aimed at improving its account takeover prevention capabilities.