Wed.Nov 22, 2023

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Visa proposes new plan for covering litigation liability

Payments Dive

The card network’s board approved pursuing a shareholder vote on a new approach to covering potentially more than $35 billion in outstanding merchant claims against the company.

Cards 369
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Student Loan Repayment Challenges

Perficient

In March 2020, the student loan forgiveness program was initiated, providing relief to many borrowers. However, in October 2023, loan payments resumed, presenting new financial challenges. While the temporary pause was beneficial, it left numerous individuals still grappling with the task of managing their additional financial obligations. Borrowers now confront the daunting prospect of resuming loan payments alongside recurring bills and debts.

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Digital payments have increased restaurant tips. But is it backfiring?

Payments Dive

Some diners feel pressured by tipping digitally in front of employees, which can hurt restaurant traffic, but experts say there are best practices that can ease customer trepidation.

Payments 243
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Eurozone banks starting to show ‘stress’ as loan defaults rise, ECB warns

TheGuardian

Rising interest rates have boosted profitability but are likely to limit demand and increase risk of bad debts, says central bank The balance sheets of eurozone banks are showing “early signs of stress” after a rise in loan defaults and late payments by customers, the European Central Bank has warned. Higher interest rates have boosted banks’ income and profits for the time being, the ECB said, but lenders are facing pressures from higher funding costs, worsening asset quality and lower lending

Lending 140
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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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Bill beats back Melio speculation

Payments Dive

Payments software company Bill isn’t in the market for “transformational” M&A and is more likely to pursue “tuck-in technology” type purchases, President John Rettig said on Friday.

Software 221

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Plaid poaches Adyen executive for European expansion

Payments Dive

Brian Dammeir sees opportunities for Plaid’s payments business to grow in Europe, particularly in account-to-account payments, he said in a Wednesday interview.

Payments 195
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Nvidia sees Q3 surge in demand for AI solutions

BankInovation

Chip-making behemoth Nvidia’s earnings for its fiscal third quarter were driven by a rise in data center demand, deepening relationships with cloud service providers and high demand for its GPU chips, Chief Financial Officer Colette Kress said during the company’s fiscal third quarter earnings call Tuesday. The company recorded net income of $9.

Data 77
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Safeguard Your Accounts With Multifactor Authentication

Jack Henry

Explore evolving identity verification methods for secure online protection in today's latest FinTalk Blog.

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How credit union leaders are embracing chatbots, AI and other new tech

American Banker

Honorees on this year's list of the Most Powerful Women in credit unions have adopted tools powered by AI to help provide 24/7 support to members in a variety of languages, while also expanding access to vital capital for those from underserved communities.

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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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Transactions: Grasshopper SaaS clients gain Capchase funding options

BankInovation

Grasshopper Bank and startup-focused financial solutions fintech Capchase joined forces last week to offer startup funding options. Macroeconomic conditions have presented challenges for startups, Luther Liang, director of product at Grasshopper, told Bank Automation News, noting that with Capchase, the digital bank’s SaaS clients can access new funding options.

Fintech 74
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Settlement and security in the ATM space

ATM Marketplace

There are many risks with ATM security. How can operators handle them all?

ATM 106
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Government may sell UK’s remaining stake in NatWest to public, says Jeremy Hunt

TheGuardian

British government still owns 38.6% of the high street bank it bailed out in the 2008 financial crisis Business live – latest updates The UK government will explore options for selling off its remaining 38.6% stake in the high street lender NatWest Group to the public within a year, bringing it back to full private ownership, Jeremy Hunt has announced.

Groups 71
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Gruenberg unlikely to resign amid FDIC workplace scandal

American Banker

While bipartisan concerns have been raised about workplace abuse at the Federal Deposit Insurance Corp., experts say Chair Martin Gruenberg is unlikely to bow to calls for his resignation in part to protect the agency's regulatory agenda. But that could change if those calls become more stringent and bipartisan.

FDIC 62
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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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Social media platforms and police not tackling romance fraud, MPs told

TheGuardian

Women describe being groomed, abused and scammed online, in evidence to home affairs select committee Police, banks and social media platforms are failing to tackle the growing crime of romance fraud, leaving victims without justice and “banging their heads against a wall”, MPs have been told. Giving evidence to the home affairs select committee inquiry into fraud, two female victims described their experiences of being groomed, abused and scammed online.

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Wells Fargo invests in Black businesses, American Express promotes small businesses

American Banker

Wells Fargo makes a $1.5 million investment in Black entrepreneurship; America Express promotes small businesses through augmented reality; shareholders approve the Banc of California-PacWest merger; and more in the weekly banking news roundup.

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BBVA Switzerland expands partnership with Metaco

The Paypers

BBVA Switzerland has announced that it expanded its partnership with cryptocurrency custody and blockchain services provider Metaco to solidify its position in the digital asset sector.

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Fintechs lost their edge in consumer lending in 2023: Fed report

American Banker

Record-high rates and the questionable future of credit performance put pressure on fintechs whose bread and butter was lending to low- and moderate-income folks.

Lending 53
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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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Flagright partners with Sciopay

The Paypers

Flagright has partnered with UK-based payment institution Sciopay to optimise the latter’s security measures for cross-border payments and foreign exchange management.

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Why fewer women are leading large U.S. banks

American Banker

The number of women CEOs at top-50 banks will soon fall to one with the departure of Kelly Coffey from the top job at City National Bank. The recent trend line shines a light on the industry's shallow bench of women in C-suite roles.

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Maisons du Monde integrates Mangopay

The Paypers

Payment infrastructure provider Mangopay has announced that Maisons du Monde integrated its solutions to provide simplified payment experiences to marketplace customers.

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How credit unions are speeding up merchant-funded rewards

American Banker

The instant-payments environment is encouraging more consumers to participate in rewards through checking accounts, earning them a cash-back bonus or a discount that gets funded faster than interchange-based rewards.

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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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Temu supports customers in identifying scam sites

The Paypers

Online marketplace Temu has announced that it supports its customers in identifying and reporting scam websites and apps that impersonate the ecommerce platform.

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Canada plans for open banking, Mastercard expands in Asia

American Banker

Canada's government is preparing legislation to promote open banking development, Mastercard has gained approval to process payments in China, and more.

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Envestnet|Yodlee partners with Centrix

The Paypers

Envestnet|Yodlee has partnered with New Zealand-based credit bureau Centrix in order to provide it with live bank data feeds in readiness for Open Banking.

Data 41
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A State of Gratitude [VIDEO]

The Emmerich Group

This Thanksgiving, I give thanks for you. And I hope that you’re in a state of gratitude. Gratitude is the filter with which we take in life. At every moment in time, things could be a whole lot worse. And that’s what gratitude is–seeing the good things. I constantly remind my team about when I Continue Reading The post A State of Gratitude [VIDEO] appeared first on Emmerich Financial.

Video 36
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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.