Mon.Jun 17, 2024

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Regulators War on Banking

Jeff For Banks

Last year I wrote a Forbes Finance Council article What's Missing in the CFPB's War on Junk Fees ? That war was being waged against overdraft fees. I stated that comparing the fee assessed on an overdraft to the cost of processing one is like comparing the cost to manufacture a pill to the cost of the medication. It is short-sighted to isolate overdraft fees from the total cost to originate and maintain a checking account.

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Shift4 acquires stake in German firm

Payments Dive

Shift4 is on an acquisition spree after making a new investment in the point-of-sale supplier, and closing of a purchase announced earlier this year.

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BBVA plans to start digital bank in Germany to rival JPMorgan

BankInovation

Banco Bilbao Vizcaya Argentaria SA is planning to open a digital consumer bank in Germany, using existing technology to expand at relatively low cost. The project is led by Javier Lipuzcoa, the head of BBVA’s digital bank in Italy, according to people familiar with the matter.

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5 key steps to creating and executing on an embedded finance roadmap

Payments Dive

By offering financial services tools and features, SaaS platforms can become stickier and more indispensable to SMBs.

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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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‘I was abused twice, first by my partner and then by my bank’

TheGuardian

Charities are calling for more help for women trapped with mortgages they cannot change because they are controlled by an abusive partner A woman whose controlling partner’s abrupt departure left her with an unaffordable mortgage has accused Barclays of refusing to help her as she struggled with the fallout. Sally James*, a mother of two teenage daughters, says the bank refused to restructure her repayments when she could no longer afford them after being left as a single parent.

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More Trending

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Regional banks are locked in a battle of perception over CRE

American Banker

Some banks with large commercial real estate concentrations are seeing their stock values take a roller-coaster ride as investors discount their assurances about the wobbly asset class.

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Wise persists with reduced pricing approach

Payments Dive

The fintech plans to continue its strategy of reducing prices for its customers, which is reflected in its forecast, interim CFO Kingsley Kemish said.

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Podcast: Banks explore AI with consumer concerns in mind

BankInovation

Financial institutions must approach emerging technologies such as AI with experience and empathy at the forefront, New York-based fintech Broadridge Chief Digital Officer Rob Krugman says on this episode of “The Buzz” podcast.

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Synapse bankruptcy puts bank-fintech partnerships on notice

American Banker

Heightened regulatory scrutiny following Synapse Financial's bankruptcy will likely lead to stricter regulatory oversight of fintech-bank partnerships, potentially putting a damper on those collaborations in general and Banking-as-a-Service offerings in particular.

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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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Citizens to launch an ERP tool this year

BankInovation

Citizens Bank is looking to add new digital banking solutions for small- and medium-sized businesses to its new Cash Flow Forecasting platform. To keep up with SMB demand for insights and tools, the Providence, R.I.

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Ethiopia approves bill allowing foreign banks to enter market

The Paypers

Ethiopia 's cabinet has approved a bill allowing foreign banks to establish local subsidiaries and permitting foreigners to acquire shares in domestic lenders.

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Bank Automation Summit Europe 2024 agenda is live

BankInovation

The inaugural Bank Automation Summit Europe 2024 will be held Oct. 7-8 at the Hilton Frankfurt in Frankfurt, Germany, providing attendees with global insights regarding automation, AI and emerging technologies in the financial industry.

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It's time for a more collaborative approach to bank regulation

American Banker

Economic downturns are inevitable, but regulatory overreaction to them shouldn't be. We need to rethink the way banks are allowed to recover from economic shocks.

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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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Tietoevry Banking expands card personalisation capabilities

The Paypers

Tietoevry Banking has expanded its card personalisation services in Riga, doubling capacity, boosting global fintech service, and ensuring secure, sustainable card options.

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How The Clearing House is using billers to boost real-time payments

American Banker

The organization says 'request for pay' has gotten early traction with billing and account-to account transfers. Now it's targeting consumer-to-government and digital wallet disbursements.

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Westpac launches new security features to combat scammers

The Paypers

Australia-based bank Westpac has introduced Westpac Verify and SaferPay to alert customers to potential scams, helping consumers and small businesses avoid losses.

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Citing regulatory challenges, Louisiana banks call off merger

American Banker

MC Bancshares and Heritage NOLA Bancorp announced plans to combine in 2023, but the companies called off the deal after difficulties securing approvals. It amplified what an analyst called the "ever-present risk" of examiner scrutiny.

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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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CleverCards secures EUR 8 mIn to curb corporate expense abuse

The Paypers

Global digital payments platform CleverCards has secured EUR 8 million for its solution designed to stop employees from abusing corporate expenses.

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AI hiring slowed for banks in first quarter, but it's picking up again

American Banker

A lull stemmed from overall cost cuts and a period of regrouping from which banks are emerging, experts say.

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Tether announces the launch of Alloy by Tether

The Paypers

Tether has launched Alloy by Tether, a tethered asset backed by Tether Gold, developed by Moon Gold NA, S.A. de C.V. and Moon Gold El Salvador, S.A. de C.V.

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Sen. Brown: OCC 'must do more' on bank merger review

American Banker

Senate Banking Committee chair Sen. Sherrod Brown, D-Ohio, is the latest progressive to express some skepticism on the Office of the Comptroller of the Currency's merger review, especially when compared to the relatively stricter Federal Deposit Insurance Corp. version.

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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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Judge approves USD 4.5B SEC-Terraform labs settlement

The Paypers

A US District Court judge in the Southern District of New York has approved a settlement between the SEC , Terraform Labs , and its former CEO, Do Kwon.

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CFPB asks appeals court to reject payday efforts to keep litigating

American Banker

Payday lenders want an appeals court to rehear a novel claim about the Consumer Financial Protection Bureau's funding despite a Supreme Court ruling last month that upheld the agency's funding as constitutional.

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Project Meridian FX launched to improve FX transaction settlements

The Paypers

The Eurosystem , in collaboration with the London Centres of the BIS Innovation Hub and the Bank of England , has initiated Project Meridian FX.

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Don’t Ignore It: Digital Marketing Is In, But Direct Mail is Thriving Too

The Financial Brand

This article Don’t Ignore It: Digital Marketing Is In, But Direct Mail is Thriving Too appeared first on The Financial Brand. A new study highlights direct mail's enduring power in the digital age, driving consumer engagement, trust and purchasing decisions. This article Don’t Ignore It: Digital Marketing Is In, But Direct Mail is Thriving Too appeared first on The Financial Brand.

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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.