Amex promotes deputy to CFO
Payments Dive
JUNE 27, 2023
When long-time American Express CFO Jeff Campbell exits in August, the company’s deputy CFO, Christophe Le Caillec, will take the top financial post.
Tue.Jun 27, 2023
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Buying into AML risks in real estate
Abrigo
JUNE 27, 2023
Key Takeaways Real estate markets are vulnerable to money laundering and fraud because of their transaction size and appreciation over time. Regulations such as Geographic Targeting Order updates help identify AML risks by requiring identification for certain real estate purchases. Institutions should stay current on any regulatory changes, including GTO updates, and train staff to recognize red flags.
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Will BNPL pass the test?
Payments Dive
JUNE 27, 2023
The buy now, pay later trend faces a starkly different environment than the one in which it gained traction. Regulation looms, the economy has worsened and investors are demanding profits. It’s all a test of BNPL’s long-term footing.
ISO 20022 For Banks – What You Need To Know
South State Correspondent
JUNE 27, 2023
ISO 20022 is an international standard, a language for electronic data exchange between financial institutions, and was developed by the International Organization for Standardization (ISO). It’s a way for banks to speak with each other, and it started to be phased in during the first quarter of this year with the goal of a complete conversion by 2025.
Thinking About How To Lessen Your Burden During Month-End Close? Skystem Can Help!
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Most people dread the nearing of the month-end close and reconciliation process, and who can blame them? It's typically a tedious, long, stressful process; but it doesn't have to be. Implementing automation into your month-end process can significantly reduce this headache by automating up to 40% of your reconciliation and saving nearly 30% of your time spent.
Starbucks reverts to cash amid tech glitch
Payments Dive
JUNE 27, 2023
The coffee retailer was only able to accept cash and Starbucks App payments on Monday during a company-wide technology snafu.
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3 trends driving payments innovation, according to Bank of America exec
BankInovation
JUNE 27, 2023
Consumer trends and needs directly affect payments innovation through the application of AI in finance, real-time payments enhancements and global transaction capabilities.
How house prices respond to interest rates depends on where they are in the country
BankUnderground
JUNE 27, 2023
Danny Walker Many people expect the rise in interest rates over the past 18 months to lead house prices to fall. Average prices have already fallen by 1–2% in the UK and by more in the US. In this post I show that historically there have been large differences in how an interest rate shock affects prices in different areas of the country, even though interest rates are determined nationally.
‘If artificial intelligence creates better art, what’s wrong with that?’ Top Norwegian investor and art collector Nicolai Tangen
TheGuardian
JUNE 27, 2023
The head investor of Norway’s sovereign wealth fund worries more about AI affecting the country’s portfolio than his own collection of paintings For a prolific art collector, Nicolai Tangen is remarkably relaxed about the prospect of masterpieces created by robots. The threat of AI-made paintings, impossible to distinguish from human brushstrokes, has sparked soul-searching and paranoia in the art world , but not with Tangen.
NCUA's climate-risk query sparks concern from credit unions
American Banker
JUNE 27, 2023
Industry leaders cautioned the National Credit Union Administration against drafting new regulations to address the financial risks associated with climate change.
New York Lien Law Essentials: 5 Key Facts for Commercial Lenders
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Dive into the complexities of New York lien laws with our comprehensive eBook, 'New York Lien Law Essentials: 5 Key Facts for Commercial Lenders.' In this detailed guide, we explore the critical formalities necessary for lenders navigating ground-up construction and fix-and-flip projects in the New York market. From documentation requirements to the implications of non-compliance, learn how to safeguard your lending position and prioritize legal adherence.
Podcast: Envestnet D&A Group President Farouk Ferchichi on hyper-personalization
BankInovation
JUNE 27, 2023
Financial institutions can look to data to create hyper-personalized experiences within back- and front-end operations — if they prioritize data and analytic literacy throughout their institutions.
Inside Wise's plans to manage economic turbulence
American Banker
JUNE 27, 2023
The fintech's revenue has soared as interest rates jump to contain inflation. CFO Matt Briers discussed the firm's strategy to navigate the inevitable decline.
Goals-Based Investing – A Superior Investment Approach and Improved Measurement of Financial Success
TrustBank
JUNE 27, 2023
Investing is a powerful tool that helps reach financial goals and grow wealth over time. Investors have historically tried to measure the success or failure of their investments by comparing performance to market-based benchmark indices, such as the MSCI All Country World Index, S&P 500 Index, Bloomberg Government/Credit Intermediate Bond Index, 90 Day U.S.
UK Cards: Spend and Balances Rose in March / April 2023
FICO
JUNE 27, 2023
Home Blog FICO UK Cards: Spend and Balances Rose in March / April 2023 Unpredictable consumer spending puts banks on high alert as deadline for new Consumer Duty Guidance nears Thu, 02/09/2023 - 08:37 Pawel Pasik by Liz Ruddick Principal Consultant expand_less Back to top Tue, 06/27/2023 - 15:45 How are consumers in the UK managing their finances in a period of high inflation and interest rates?
Elevating Accounting Practices: The Power of Outsourcing and Automation in the Digital Age
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.
Podcast: Envestnet President Farouk Ferchichi on hyper-personalization
BankInovation
JUNE 27, 2023
Financial institutions can look to data to create hyper-personalized experiences within back- and front-end operations — if they prioritize data and analytic literacy throughout their institutions.
The SEC was right to call Binance's geofencing bluff
American Banker
JUNE 27, 2023
The allegation that Binance encouraged the use of location-obscuring technology so that it could illegally serve U.S. clients is a symptom of a broader problem for financial services companies.
Venezuela to integrate Russian Mir payments
The Paypers
JUNE 27, 2023
The government of Venezuela has announced that it plans to integrate Mir , a Russian electronic card and transfer payments system.
Cybercrime is digital banking's greatest threat, bankers say
American Banker
JUNE 27, 2023
About 90% of surveyed bankers said cybersecurity was their biggest worry, ahead of legacy tech and talent shortage issues.
Digital Transformation: Accelerating ROI and Growth in Commercial Lending
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Now is the time for lenders to prioritize their digital transformation initiatives in preparation for the lending rebound. Rising competition and ever-increasing customer demands for speed and efficiency are forcing financial institutions to embrace digital transformation. This shift can feel overwhelming—where do you begin? This infographic illustrates automation demands and shows you how loan document automation serves as an essential step to increase profits and provide the best lending exper
CaixaBank launches FXWallets, a service for international payments
The Paypers
JUNE 27, 2023
CaixaBank has rolled out FXWallets, a service for opening virtual accounts with no opening or maintenance costs, to send and receive international payments in multiple currencies.
UBS preparing to cut more than half of Credit Suisse workforce
American Banker
JUNE 27, 2023
Bankers, traders and support staff in Credit Suisse's investment bank in London, New York and in some parts of Asia are expected to bear the brunt of the cuts, with almost all activities at risk, people familiar with the matter said.
PayU integrates new payment methods in South Africa
The Paypers
JUNE 27, 2023
Netherlands-based payment service provider PayU has added two new payment methods, Mastercard Click to Pay and Capitec Pay, to increase conversion for South African merchants.
Treasury calls for climate scenario testing, more disclosures from insurers
American Banker
JUNE 27, 2023
A report from the Treasury Department's Federal Insurance Office urges state regulators to spruce up their toolkits for monitoring and mitigating the impact of climate change on homeowners insurance.
The State of Automation in Financial Services 2024 Report
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In this report, you’ll find a comprehensive analysis of survey responses from executives at banks, credit unions, and insurance companies concerning their organization’s current and future use of automation. The report’s key insights include: Which types of automation are saving organizations the most time and money How to overcome the biggest barriers to automation implementation and adoption Why automation investments will continue to grow over the next few years How much you could save in 202
Endava partners with Imburse
The Paypers
JUNE 27, 2023
Digital transformation, agile development, and intelligent automation services provider Endava has partnered with insurance payments platform Imburse , a Duck Creek Technologies company.
BofA to enter new markets in Nebraska, Alabama and Ohio
American Banker
JUNE 27, 2023
Bank of America says it will extend its branch footprint to Omaha, Dayton and Huntsville. The moves are part of an ongoing strategy to enter new markets even as the bank reduces its total branch count.
Helcim launches zero-cost credit card processing for SMEs
The Paypers
JUNE 27, 2023
Canada-based payment service provider Helcim has rolled out ‘Helcim Fee Saver’ to reduce payment processing fees for merchants and navigate surcharging and convenience fees.
Bank of America seeks Texas muni revival after two-year halt
American Banker
JUNE 27, 2023
The bank hasn't managed debt sales in Texas since a measure took effect in 2021 that bars governmental entities from working with companies that "discriminate" against firearms businesses. BofA's "current risk-based framework and policies" can comply with that law, a lawyer for the bank has told the state.
Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance
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Commercial lending is on the verge of a resurgence, but traditional processes are an obstacle. Explore the top 3 reasons for resistance to digital transformation and how overcoming them can pave the way for growth and efficiency. Discover why embracing automation and digital solutions is crucial for success in today's competitive landscape. Discover how GoDocs helps commercial lenders in the digital era with seamless integration and a borrower-focused approach.
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