Fri.Feb 02, 2024

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Aldi debuts Grabango checkout tech at Chicago-area store

Payments Dive

The retailer is working with artificial intelligence startup Grabango to offer the service for the first time in the U.S. at a location in the Chicago suburb of Aurora, Illinois.

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Resolution Plan Submission Period Extended by Key Financial Agencies

Perficient

In discussions with financial services executives, Perficient consultants consistently explore the extension of the submission deadline for resolution plans among certain large financial institutions with assets exceeding $250 billion. Moving forward, these institutions will need to submit their resolution plans by March 31, 2025. Our Expertise Perficient launched its Risk and Regulatory CoE in October 2023 to proactively address compliance issues.

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Payments companies’ job cuts may not be done

Payments Dive

PayPal, Block and Brex all started cutting employees in January in pursuit of efficiency and profits.

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6 Banking customer experience strategies for 2024

ATM Marketplace

Customer experience is a critical part of every business, as it builds customer loyalty and improves the overall brand image and equity. When looking at the retail bank customer experience, there are multiple considerations to keep in mind in 2024.

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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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Why Discover went all-in on open source

Payments Dive

The card network’s tech leadership eased the product development process, removing barriers to innovation and opening pathways for engineers to advance.

More Trending

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Emburse chases large customers

Payments Dive

The expense management company plans to pursue bigger clients that offer a better value proposition, said new CEO Marne Martin.

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Vast Bank in Oklahoma exits the crypto market

American Banker

The $1 billion-asset institution shuttered its mobile banking platform for digital asset purchases on Wednesday, following a consent order from the Office of the Comptroller of the Currency received in October of last year.

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BP adds new way to pay for fuel

Payments Dive

Customers can redeem uChoose Rewards points for up to 50 cents off at about 7,000 of the gas company’s fueling locations.

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Apple reports record revenue from payments, cloud services

BankInovation

Apple reported record payments and cloud revenue that contributed more than 19% of the tech giant’s overall revenue growth. Revenue from the services, which include iCloud and Apple Pay, was $23.1 billion in its fiscal first quarter, up 11.3% year over year, according to the company’s earnings statement released Feb. 1.

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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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Truist keeps downsizing with deal to sell asset-management business

American Banker

The North Carolina bank agreed to offload Sterling Capital Management to Guardian Capital Group in Toronto. It's the latest step in the effort to simplify Truist.

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Banks in Talks to Finance $13 Billion DocuSign Buyout Deal

BankInovation

Several Wall Street banks including JPMorgan Chase & Co. and Bank of America Corp. have held talks to provide as much as $8 billion in financing for a buyout of DocuSign Inc. that values the company at around $13 billion, according to people with knowledge of the matter. Jefferies Financial Group Inc.

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Fingular expands in India under TrustPaisa

The Paypers

Singapore-based Fingular has announced its expansion in India under the brand name TrustPaisa , offering local customers its suite of digital financial services.

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AWS clients double down on cloud

BankInovation

Amazon Web Services’ clients are leaning into the cloud for innovation and adding more workload tasks to the cloud. Since the third quarter of 2023, AWS has added “more than $1.1 billion of revenue,” Amazon Chief Financial Officer Brian Olsavsky said during AWS’ fourth-quarter earnings call on Feb.

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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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Fincen issues guidance on avoiding banking sanctioned Israeli extremists

American Banker

The Financial Crimes Enforcement Network issued an alert Thursday on avoiding business relationships with sanctioned Israeli settler groups in the West Bank, an effort that comes as the White House is pushing sanctions on foreign actors involved in destabilizing the region.

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Faysal Bank, Total Parco sign agreement for digital payments

The Paypers

Pakistan-based Faysal Bank , a subsidiary of KSA Holdings , has signed an agreement with oil marketing company Total Parco to provide digital payments to the latter’s retail network.

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LendingClub exits OCC agreement, sees path for faster growth

American Banker

The San Francisco company entered into a pact with its regulator when it acquired Radius Bank three years ago. "The operating agreement, by design, in some ways slows you down," said CEO Scott Sanborn.

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Deutsche Bank to cut 3,500 jobs

The Paypers

Germany-based financial institution Deutsche Bank has announced its decision to cut 3,500 jobs as part of its overall strategy to optimise efficiency and save costs.

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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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New CSBS chief warns Washington against sidelining state agencies

American Banker

Brandon Milhorn, the new CEO of the Conference of State Banking Supervisors, used the platform offered by his first major speech to sound an alarm against one-size-fits-all solutions emanating from Washington. "The pendulum has swung too far in the direction of federal regulatory uniformity," Milhorn argued.

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Canada TD Bank to receive USD 7.4 million penalty for faulty policies

The Paypers

Canada-based TD Bank has received a significant monetary penalty for faulty anti-money laundering controls after an examination by the financial crime institutions.

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How PayPal's small investment in a fintech is a big bet on its stablecoin

American Banker

PayPal hopes to demonstrate its coin's utility by using it to take a stake in a company called Mesh.

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Wealth Dynamix Now Available on Temenos Exchange

The Paypers

UK-based customer lifecycle management company Wealth Dynamix has partnered with Temenos Exchange to become available on the latter’s platform.

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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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FHFA's Home Loan bank report is a policy unicorn. Don't let it escape.

American Banker

The FHFA's Home Loan bank report is that rare thing you never see in the nation's capital anymore — a balanced plan on a complex issue that could have lasting impact on a difficult problem.

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Emirates NBD partners with Silent Eight to automate alert disposition

The Paypers

MENA-based banking group Emirates NBD has partnered with Silent Eight , a fintech company that provides an AI and machine learning platform to detect and prevent financial crime.

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Carolina community lenders to merge, Fiserv adds tech to Newark arena

American Banker

Dogwood State Bank and Community First Bancorp plan an all-stock deal to create a $2.2 billion bank, technology firm Fiserv announces a partnership with the National Hockey League's New Jersey Devils, former Texas secretary of state will join Cullen/Frost's board and more in our weekly banking news roundup.

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Ecospend launches Pay-by-Bank on mobile with Hargreaves Lansdown

The Paypers

Ecospend , a Trustly company, has announced its partnership with UK-based Hargreaves Lansdown in order to launch its Pay-by-Bank solution on mobile.

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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.