North American cashless payments to climb 7% by 2028: report
Payments Dive
SEPTEMBER 12, 2024
Real-time payments and open banking will drive the increase, forcing the shift even faster globally, a Capgemini report released this week said.
Thu.Sep 12, 2024
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Managing CDs – Why Banks Should Limit Their Offerings
South State Correspondent
SEPTEMBER 12, 2024
As a general statement, banks offer too many options for certificates of deposits (CDs). Consider that the average bank offers 12 different maturities, some “specials,” plus several different tiers of pricing within each maturity. We have seen banks with as many as 42 different CD options which is inefficient for every party. The problem is too many CD offerings can increase a bank’s cost, confuse customers, confuse employees and, worst of all – damage its overall deposit performance.
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Mastercard acquires cybersecurity firm for $2.65B
Payments Dive
SEPTEMBER 12, 2024
The acquisition is the latest in a series of cybersecurity firm purchases by the card network over the years.
Chemist, pub and bank closures lead to 2,300 more empty UK stores, survey finds
TheGuardian
SEPTEMBER 12, 2024
Worst net closures so far this year are on high streets, while retail parks and shopping centres fair better A wave of closures by chemist, pub and bank chains led to almost 2,300 more empty stores on high streets, shopping centres and retail parks in Great Britain in the first half of this year, according to new research. Chain stores were shuttered at a net rate of 12 a day, with the three services accounting for half of those closures, according to a survey by Green Street for the advisory fi
Fall In Love With the Month-End Close
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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.
Airwallex eyes embedded payments in global push
Payments Dive
SEPTEMBER 12, 2024
The payments software provider is making “immediate bets” on the Brazil and Mexico markets, a company executive said.
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Is U.S. Bancorp ready to turn the corner after years of rising costs?
American Banker
SEPTEMBER 12, 2024
Executives at the super-regional bank told investors that years of investments are poised to start paying off in rising profits, but the market seemed skeptical about the company's plan forward.
Bank of America spending $12B on technology annually
BankInovation
SEPTEMBER 12, 2024
Bank of America is investing in technology initiatives as automation and digitalization remain priorities. The $3.2 trillion bank spends $12 billion annually on technology, a Bank of America spokesperson told Bank Automation News. Nearly a third of that $12 billion is spent on technology initiatives including innovation, Chief Executive Brian Moynihan said Sept. 10 at […] The post Bank of America spending $12B on technology annually appeared first on Bank Automation News.
Wells Fargo gets hit with new AML enforcement action
American Banker
SEPTEMBER 12, 2024
The penalty by the Office of the Comptroller of the Currency is a major setback for the San Francisco bank, which was freed from a separate anti-money-laundering order in 2021. Its stock price fell sharply after the news broke.
AI, open banking to boost consumer credit access
BankInovation
SEPTEMBER 12, 2024
AI coupled with an open banking framework provides better access to credit for consumers. The technology presents an opportunity for consumers with limited credit to obtain loans and make payments, Ben Soccorsy, head of data access and business development at Mastercard, said this week during the Finovate Fall event in New York City. By combining […] The post AI, open banking to boost consumer credit access appeared first on Bank Automation News.
5 Ways You Can Win Faster with Gen AI in Sales
Advertiser: ZoomInfo
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.
Podcast: More tools to tackle check fraud
ABA Community Banking
SEPTEMBER 12, 2024
Fraud is front and center for America's banks. Paul Benda and Peter Cook discuss several recent initiatives taken by ABA to help banks tackle fraud. The post Podcast: More tools to tackle check fraud appeared first on ABA Banking Journal.
Lending, AI, outreach: What you'll see at Small Biz Banking 2024
American Banker
SEPTEMBER 12, 2024
Executives from JPMorgan Chase, TD, U.S. Bank, M&T and other banks will gather to discuss how they serve small business clients, what those customers want now, and what they expect in 2025 and beyond.
Ebury partners with Salt Edge
The Paypers
SEPTEMBER 12, 2024
Global fintech company Ebury has announced its partnership with Salt Edge in order to expand its Open Baking presence in the regions of the EU and the UK.
The CFPB is funded by the Fed's profits. Trouble is, there are none
American Banker
SEPTEMBER 12, 2024
The law that created the Consumer Financial Protection Bureau stipulates that the agency must be funded by the central bank's earnings. But, the Fed has been losing money for two years. Therefore, its payments to the agency are not legal.
The Role of Automation in Commercial Lending
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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.
Walmart Marketplace and Parafin announce financing offer for sellers
The Paypers
SEPTEMBER 12, 2024
Walmart Marketplace has partnered with US-based fintech startup Parafin to provide sellers with capital through the Walmart Marketplace Capital programme.
Revolut founder sells shares ‘worth up to $300m’ in fintech company
TheGuardian
SEPTEMBER 12, 2024
Nik Storonsky reportedly sold 40-60% of the stock offloaded in August secondary share sale The founder of Revolut, one of the most valuable technology companies in Europe, has reportedly sold shares worth up to $300m (£230m) in the company. Nik Storonsky, chief executive of Revolut, sold 40-60% of the stock offloaded in last month’s secondary share sale.
ConnectID partners with Lendela for secure loan matching
The Paypers
SEPTEMBER 12, 2024
ConnectID has grown its network by joining forces with Lendela , a digital loan matching platform, to boost the security and efficiency of loan applications for consumers in Australia.
Mastercard’s $2.65B Deal for Recorded Future | Apple’s €13B EU Tax Bill | UAE Launches Digital Exchange Finstreet
Bussman Advisory
SEPTEMBER 12, 2024
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 Mastercard’s $2.65B Deal for Recorded Future | Apple’s €13B EU Tax Bill | UAE Launches Digital Exchange Finstreet appeared first on Bussmann Advisory AG.
10 Ways to Leverage Buyer Signals and Drive Revenue
Advertiser: ZoomInfo
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.
Intergiro creates No-Code White-Label Platform
The Paypers
SEPTEMBER 12, 2024
Intergiro , a provider of Banking-as-a-Service, has announced the launch of its no-code white-label app platform, designed for creating custom banking apps.
ABA announces 2024 Diversity, Equity and Inclusion Award winners
ABA Community Banking
SEPTEMBER 12, 2024
ABA announced the winners of its 2024 ABA Diversity, Equity and Inclusion Awards, which recognize member banks for their internal-facing programs, leadership and activities focused on improving DEI within their workplace. The post ABA announces 2024 Diversity, Equity and Inclusion Award winners appeared first on ABA Banking Journal.
Silverflow and Chesapeake Bank partner to offer advanced payment processing solutions
The Paypers
SEPTEMBER 12, 2024
Silverflow has entered into a new partnership with Chesapeake Bank , aiming to offer Chesapeake Bank's ISO clients a modern, high-performance payment processing system.
How AI can raise morale for employees and 'break them free'
American Banker
SEPTEMBER 12, 2024
The Treasury Department's chief AI officer said artificial intelligence can relieve the burden of mind-numbing activities such as anomaly detection and can spur employees to think more creatively.
Outsource With Confidence for RDC Program Success
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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.
Volt launches VX2, a stablecoin settlement solution
The Paypers
SEPTEMBER 12, 2024
UK-based payments platform Volt has launched VX2, a stablecoin settlement solution that integrates with Volt’s real-time payments infrastructure.
Despite M&A lull, United Community still seeking deals
American Banker
SEPTEMBER 12, 2024
The South Carolina-based bank considers itself a buyer, but has put the 17 months since announcing its last acquisition to good use, reassessing multiple business lines and upgrading technology.
Fincra secures IMTO licence from CBN
The Paypers
SEPTEMBER 12, 2024
Fincra , a payment company, has obtained an International Money Transfer Operator (IMTO) licence from the Central Bank of Nigeria (CBN).
Mortgage rates move as FOMC cut looms
American Banker
SEPTEMBER 12, 2024
The 30-year fixed rate mortgage fell week-to-week by the largest amount since the start of August and are now almost a percentage point lower than a year ago, according to Freddie Mac.
Signal-Based Selling: How to Leverage 4 Key Buying Signals
Advertiser: ZoomInfo
As prospects define their problem, search for solutions, and even change jobs, they are generating high-value signals that the best go-to-market teams can leverage to close more deals. This is where signal-based selling comes into play. ZoomInfo CEO Henry Schuck recently broke down specific ways to put four key buying signals into action with the experts from 30 Minutes to President’s Club.
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