Tue.Apr 16, 2024

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Can embedded finance solve one of payments’ biggest problems?

Payments Dive

As crucial as it is to focus on your core business, today’s merchants demand a broader range of services from their providers. Can embedded finance help solve this core competency problem?

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5 Campaigns to Increase Deposits Targeting Digital Wallets

South State Correspondent

Bankers often overlook how much money is stored in digital wallets away from their bank. While the amounts are relatively small on an individual basis, they are massive in aggregate. While some of these are stored at the banking-as-a-service banks such as Goldman Sachs, or The Bancorp, many digital wallets, like Starbucks, reside at the corporate level without interest or insurance.

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Steak ‘n Shake installs facial recognition at self-ordering kiosks

Payments Dive

The chain first tested the technology that lets customers pay using their face in October, and began deploying it in January.

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Why Optionality Is Key to Digital Banking

Jack Henry

In the rapidly evolving landscape of the financial services, digital banking has reshaped the way individuals and businesses manage their finances. One of the key elements driving the success of digital banking services is the idea of optionality and making it easy to find banking features or products.

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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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CFPB notes ‘growing financialization’ of medical, rental payments

Payments Dive

The bureau has received about 15,000 complaints in the last two years concerning medical debt collectors according to general counsel Seth Frotman.

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More Trending

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CFPB’s new late fee cap charts ‘a better way,’ says Sunbit CEO

Payments Dive

“The credit card industry should take a page from innovators, instead of relying on yesterday’s fee models,” argues the CEO of the payment tools provider.

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Bank of America’s digital offerings draw more users

BankInovation

Bank of America’s digital offerings continue to be a draw, as its virtual assistant Erica reached 2 billion user interactions in the first quarter.

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Amid probes, Morgan Stanley vows not to change its wealth strategy

American Banker

Morgan Stanley CEO Ted Pick downplayed the importance of government investigations into potential money laundering issues involving wealth management clients. "We've been focused on our client on-boarding and monitoring processes for a good while," he said.

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Morgan Stanley to deploy tech for M&A

BankInovation

Morgan Stanley is looking to the strong merger and acquisition market as an opportunity to launch tech-driven tools that help its bankers and advisers make decisions.

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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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NYCB's new CEO fills out his team amid strategy revamp

American Banker

New York Community Bancorp CEO Joseph Otting has added three former colleagues to the embattled company's leadership team. The hires come six weeks after the Long Island bank got a $1 billion capital infusion, which led to Otting's appointment as CEO.

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Nubank to introduce its mobile operator services

The Paypers

Brazil-based financial services platform Nubank has announced its plans to go beyond providing banking services and launch its own mobile phone operator company.

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Unrelenting interest income pressure weighs down PNC's earnings

American Banker

The Pittsburgh-based regional bank also emphasized expense control for the first quarter and throughout 2024 as it manages credit quality vulnerabilities and higher charge-offs, particularly among office loans.

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Mastercard partners with VoPay

The Paypers

Mastercard has partnered with Canadian fintech VoPay in order to provide customers with the possibility to move money quickly and securely with Mastercard Move.

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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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Inside FIS' use of AI to weed out false-positive card fraud alerts

American Banker

When its broad-spectrum payment card fraud-detection filters generated too many false alarms, FIS implemented AI to help banks prioritize which types of fraud to investigate first, in part by muting lower-risk notifications.

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Tencent augments payment experience for China visitors

The Paypers

Tencent has streamlined WeChat account registration and card linking to Weixin Pay for international visitors to China to enhance their payment experience.

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New details on rush of Home Loan bank borrowings at three failed banks

American Banker

The Federal Home Loan Bank System stepped up advances by 37% or more to Silicon Valley, Signature and First Republic banks ahead of their failures, the GAO says in a post-mortem on last year's banking crisis. The findings add to the debate about whether the system should be a lender of last resort.

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UK Finance proceeds with RLN experimentation phase

The Paypers

Financial services provider UK Finance has announced its plans to work on an additional UK Regulated Liability Network (RLN) experimentation phase with eleven of its members.

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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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Warren, Blumenthal press OCC on NYCB-Flagstar deal approval

American Banker

Sens. Elizabeth Warren, D-Mass., and Richard Blumenthal, D-Conn., detailed how New York Community Bank grew to exceed the $100 billion threshold that triggers tougher bank requirements and set the bank on a path to market turmoil via a series of deals that were approved, in part, by the Office of the Comptroller of the Currency.

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PNC invests in retail banking technology platform

BankInovation

PNC Financial worked to expand to new markets and grow its digital platforms in the first quarter.

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RBI to issue an additional licence framework

The Paypers

The Reserve Bank of India (RBI) has planned to issue an additional licence category for point of sale (POS) businesses in a bid to improve the offline payments ecosystem.

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Q&A: Andy Barr pitches an 'America First' meets 'Chamber of Commerce' HFSC

American Banker

Rep. Andy Barr, R-Ky., is running to lead his caucus in the House Financial Services Committee and says he has the skills to meld traditional and insurgent wings of the party.

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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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German bank LBBW to offer crypto custody services with Bitpanda

The Paypers

German federal bank Landesbank Baden-Württemberg (LBBW) has set to offer crypto custody services through a partnership with Austria-based exchange platform Bitpanda.

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Barclays, Citi are among banks testing tokenized deposits in U.K.

American Banker

Industry body UK Finance is expanding its pilot of an experimental shared ledger to track banking payments, hoping to join some of the dots in the nascent world of digital assets.

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Zopa to file for an IPO

The Paypers

UK digital bank Zopa has announced its focus on filing for an Initial Public Offering (IPO), aiming to offer current accounts to existing customers by the end of 2024.

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Bank of America tops estimates as traders notch best quarter in decade

American Banker

Bank of America and other banks' balance sheets have remained resilient despite higher interest rates, though uncertainties remain, including inflation and attacks in the Middle East.

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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.