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
How Unify Turned Month-End Mayhem Into a Growth Party With Automation!
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By ditching paper and manual checklists, UNIFY embraced ART’s cloud-based solution for seamless automation. The robust dashboards, exception reports, and completion date reports allowed the team to easily track progress and resolve bottlenecks. ART’s flexible access for auditors ensured tight deadlines were met effortlessly. With competitive pricing and a rapid setup, ART cut costs and minimized disruptions, enabling UNIFY’s team to concentrate on high-impact tasks.
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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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.
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.
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.
Bank of England waters down plans to impose tougher capital rules on UK banks
TheGuardian
SEPTEMBER 12, 2024
Chancellor says revision of how much lenders must set aside to cope with future crises will bolster growth Business live – latest updates UK politics live – latest updates The Bank of England has watered down new capital rules meant to shock-proof the banking system from another 2008-style crash, in a move the Labour government says will bolster its economic growth plans.
The 2024 Lenders Guide to Automating the Complex Loan
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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.
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.
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.
Is Your Current Card Platform Holding You Back?
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Have you ever felt the pain and loss of a client suddenly going silent, leaving you questioning everything? Ghosting can cause heartbreak; in business, it drains resources, and emotionally, it shatters your confidence. A modern credit card program can give you the tools to deliver the digital-first experiences your customer’s demand. Our eBook, “5 Signs Your Credit Card Offering Needs an Upgrade,” will help you identify key indicators that your current card platform may be holding you back and w
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.
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.
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.
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.
Auditpalooza: Rocking the Month-End Close Audit
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
A good, fast, clean audit leads to a happy work life. Join us in this one-hour webinar, where we share the best ways to prepare and conduct your audit process to maximize audit satisfaction and minimize administrative time in month-end close and financial reporting. Learning objectives: This course objective is to review leading practices to maximize audit success.
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.
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.
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.
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.
3 Ways Managed Device Services Help Community Banks Cut Costs
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Community banks seek ways to leverage their technology infrastructure to drive productivity and growth. However, the sheer volume of technology devices, capital constraints, and lack of skilled resources stand in the way. This Strategy Brief explores how a managed device services partner can help bridge this resource gap. Managed device services partners empower community banks to take charge of mission-critical device management activities with: Logistics and installation services to support se
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.
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).
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.
Convera partners with Routable
The Paypers
SEPTEMBER 12, 2024
Global commercial payments provider Convera has partnered with flexible accounts payable platform Routable in order to break worldwide payment boundaries.
5 Things Lenders Need to Know About Portfolio Loans & Their Documentation
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Discover the key benefits of portfolio loans and learn how to streamline your lending process with our infographic, "5 Things Lenders Need to Know About Portfolio Loans & Their Documentation." Find out how portfolio loans can maximize borrower potential by consolidating multiple properties under a single loan, reducing paperwork, and lowering closing costs.
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