Wed.Sep 11, 2024

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Transactions: Amex, Knot launch card-on-file solution

BankInovation

American Express and card-on-file management company Knot are launching a card-on-file payments solution to improve the payment experience at trusted retailers. “Amex has integrated with Knot’s CardSwitcher technology, which allows eligible card members to quickly and securely provide their payment information to participating merchants directly through the Amex website,” Stephanie Schultz, vice president and head […] The post Transactions: Amex, Knot launch card-on-file solution appeared

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Global Payments CEO reshapes the business

Payments Dive

The payments technology company is getting a remake with job cuts, an acquisition and potential divestitures a year after Cameron Bready ascended to the CEO post.

Payments 221
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Branch innovation, AI claim top spots in Bank Customer Experience Awards

ATM Marketplace

The BCX Awards honored SF Fire Credit Union, Talkdesk and Chongqing Rural Commercial Bank for innovation in banking.

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FIS draws fintech startups into accelerator

Payments Dive

Fidelity National Information Services this week continued an annual program backing young fintechs that are striving to disrupt the financial services landscape.

Fintech 195
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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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KeyBank to hold off on FedNow until DDA reach hits 5%

BankInovation

NEW YORK — KeyBank is hesitant to join the Federal Reserve’s real-time payments network FedNow until the payments rail shows some growth. The $184 billion bank wants FedNow to reach 5% of demand deposit accounts (DDA) before joining the payment network. DDA’s allow deposited funds to be withdrawn at any time, Jon Briggs, head of […] The post KeyBank to hold off on FedNow until DDA reach hits 5% appeared first on Bank Automation News.

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Webinar on future of open banking to feature Finavator’s Beyo

BankInovation

Michelle Beyo, chief executive of consultancy firm Finavator, will be featured in the upcoming Bank Automation News webinar “The future of open banking: Payments meet data,” taking place on Tuesday, Sept. 17, at 11 a.m. ET. Register here for the webinar. The free, 45-minute webinar moderated by BAN Editor Whitney McDonald will see industry leaders […] The post Webinar on future of open banking to feature Finavator’s Beyo appeared first on Bank Automation News.

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Visa pushes 'pay by bank' in the UK; Klarna faces AML heat

American Banker

The card network is building a model for account-to-account payments, which are gaining popularity, while Swedish regulators criticize Klarna's money-laundering prevention efforts. That and more in American Banker's global payments roundup.

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CFPB fines TD Bank $28M

BankInovation

TD Bank was ordered to pay $28 million in fines by the Consumer Financial Protection Bureau, which ruled the bank had shared inaccurate information about its customers to consumer reporting companies. Consumer reports are used by financial institutions and other lenders to determine access to credit, housing or employment. By sharing inaccurate information regarding bankruptcies […] The post CFPB fines TD Bank $28M appeared first on Bank Automation News.

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Liberis expands SME financing to 10 European countries via myPOS

The Paypers

Embedded finance platform Liberis has partnered with fintech myPOS to enable the latter to offer revenue-based financing for SMEs in 10 European countries, starting with the UK.

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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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Activists to JPMorgan Chase, BofA, Citi: Stop lending to factory farms

American Banker

A coalition of 105 organizations has analyzed the flow of financing to large, greenhouse-gas-emitting livestock operations and found these three banks do the bulk of loans.

Lending 58
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First Citizens Bank introduces instant payments via RTP network

The Paypers

First Citizens Bank has announced that its business and consumer banking customers can now instantly receive payments into their savings and checking accounts through the national RTP network.

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Connecticut private bank draws regulatory ire

American Banker

Fieldpoint Private Bank & Trust and its parent company entered a written agreement with state and federal supervisors pledging to address several compliance issues.

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Paymob extends Series B with an additional USD 22 million

The Paypers

MENA-based financial services enabler Paymob has extended its Series B funding round to USD 72 million, to maintain profitable growth in its core market.

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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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Watchdog probe says Atlanta Fed president created 'appearance' of impropriety

American Banker

The Federal Reserve's inspector general says the reserve bank CEO did not trade on confidential information or have conflicts of interest, but did violate central bank rules and policies.

Atlanta 36
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Bold Commerce announces a collaboration with PayPal

The Paypers

Bold Commerce has announced a new collaboration with PayPal to integrate Fastlane by PayPal with Adobe Commerce (formerly Magento).

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M&T is feeling 'really good' about CRE loans as rates start to fall

American Banker

The regional bank has already seen a large reduction in "criticized" loans, and it expects that trend to pick up as lower borrowing costs alleviate the pain in the commercial real estate sector.

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Mondu teams up with Stripe to deliver BNPL payments to B2B merchants

The Paypers

Germany-based B2B BNPL payment provider Mondu has partnered with Stripe to equip B2B merchants and marketplaces with the ability to offer flexible invoice payments via Stripe.

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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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Fed will cut rates, but question is how often and how much

American Banker

The latest inflation news is almost sure to result in a 25 basis point cut next week, but some are still hoping for 50 basis points, as well as reductions totaling almost 200 basis points through the end of 2025, Wolters Kluwer found.

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Enfuce partners with Mastercard to provide its E2 card to additional markets

The Paypers

Enfuce , a company specialising in issuer processing, has announced the expansion of its E2 card to the UK, France, and Germany, in partnership with Mastercard.

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Core U.S. inflation picks up, damping odds of outsize Fed cut

American Banker

Underlying U.S. inflation unexpectedly picked up in August on higher prices for housing and travel, undercutting the chances of an outsize Federal Reserve interest-rate cut next week.

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Reach and DisputeHelp partner to prevent fraud losses

The Paypers

Reach , a cross-border payment solution provider, has partnered with DisputeHelp to reduce chargebacks and minimise fraud losses for their partners.

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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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CFPB hits TD Bank with $28M in penalties for credit-reporting abuses

American Banker

The latest violations come as the bank expects to face more than $3 billion in regulatory fines for anti-money-laundering failures.

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JST Digital receives in-principle approval from MAS

The Paypers

Crypto-native financial services company JST Digital has gotten in-principle approval for the Monetary Authority of Singapore (MAS) to provide DPT services in Singapore.

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'Show them death and they'll take despair': Banks not sold on Basel III redux

American Banker

Large banks welcomed regulators' proposed changes to last year's controversial reform package, but remain skeptical about the need for more capital.

Capital 36
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Wise Platform Joins AbbeyCross as new payment partner

The Paypers

AbbeyCross , a platform aimed at enhancing connectivity and access in global foreign exchange payments, has announced that Wise Platform is now part of the ABX Platform.

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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.