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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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.

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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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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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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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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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