Thu.Nov 21, 2024

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'Fundamental breakdown': How USAA landed in regulators' hot seat

American Banker

Amid steady customer growth, USAA's banking arm failed to make the investments necessary to satisfy either its regulators or some decades-long customers. Changes in the executive suite haven't fixed the problems.

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Amazon now accepts EBT card payments

Payments Dive

The e-commerce giant began letting needy families shop on its website with their federal benefits cards earlier this month.

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AI Regulations for Financial Services: Hong Kong

Perficient

Artificial intelligence (AI) is poised to affect every aspect of the world economy and play a significant role in the global financial system, leading financial regulators around the world to take various steps to address the impact of AI on their areas of responsibility. The economic risks of AI to the financial systems include everything from the potential for consumer and institutional fraud to algorithmic discrimination and AI-enabled cybersecurity risks.

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CFPB tweaks big tech payments rule

Payments Dive

In finalizing the new rule to oversee digital wallet providers Thursday, the Consumer Financial Protection Bureau said it made important changes to its initial proposal.

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Fall In Love With the Month-End Close

It's the time of year to give our close process some TLC. Join us in this one hour webinar where we discuss how to adopt leading practices and infuse technology into the month-end close process to improve our experience and increase our productivity during month-end and quarter-end close. Learning Objectives: This course's objective is to understand how the month-end close can be improved with automation and adoption of leading practices.

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1033 Open Banking Mandate Blueprint for Success

Perficient

The Consumer Financial Protection Bureau (CFPB) recently issued a final rule § 1033.121(c) supporting open banking and personal financial data rights. Under this ruling, banks, credit unions, credit card issuers, and other financial service providers must enhance consumer access to personal financial data. The first compliance deadline of April 1, 2026, impacts the largest organizations.

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Truist commits $725 million to help Western N.C. rebuild after Helene

American Banker

The North Carolina-based bank rolled out a multiyear program to provide loans, investments and philanthropic support to communities in the western part of the state.

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Adyen goes live with Tap to Pay on iPhone in New Zealand

The Paypers

Adyen has announced the launch of its Tap to Pay on iPhone for customers and businesses in the region of New Zealand, in partnership with NewStore.

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CFPB finalizes rule to supervise some Big Tech firms

American Banker

The Consumer Financial Protection Bureau has significantly raised the transaction threshold for its larger participant rule — which defines which firms will be affected — from 5 million annual payments to 50 million.

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7th Session - SBA Loans: Empowering Small Business

Commercial Lending USA

Looking for commercial loans in the USA? Commercial Lending USA specializes in arranging commercial mortgages for businesses and commercial purposes nationwide. Get the funding you need today!

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5 Ways You Can Win Faster with Gen AI in Sales

Incorporating generative AI (gen AI) into your sales process can speed up your wins through improved efficiency, personalized customer interactions, and better informed decision- making. Gen AI is a game changer for busy salespeople and can reduce time-consuming tasks, such as customer research, note-taking, and writing emails, and provide insightful data analysis and recommendations.

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BNY gains Treasury's Direct Express benefits contract

American Banker

The contract gives the nation's oldest bank access to more than $3 billion in deposits a month.

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Shufti launches its Fast ID authentication and portable identity service

The Paypers

Global identity verification provider Shufti has announced the launch of its Fast ID authentication and portable identity service for its customers.

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Finastra client files stolen in data breach

American Banker

The breach, which occurred earlier in November, did not directly impact customer operations, but a threat actor stole data meant for customers.

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PayPal to use PYUSD for cross-border transfers via Xoom

The Paypers

PayPal has announced that it will enable its disbursement partners to use PayPal USD (PYUSD) for settling cross-border money transfers via Xoom.

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The Role of Automation in Commercial Lending

Automation is changing the game for commercial lenders, offering a clear path to competitive advantage in 2025. Rising costs, outdated workflows, and manual data entry slow growth and impact borrower satisfaction. Automation addresses these challenges, reducing costs, speeding up loan cycles, improving accuracy, and elevating borrower experiences. With market uncertainty easing, now is the time to act—waiting until loan volumes rebound leaves lenders unprepared and struggling to compete.

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CFPB's Chopra: AI can be the key to fairer credit scoring

American Banker

Consumer Financial Protection Bureau Director Rohit Chopra said the FICO credit-scoring model has drawbacks in price, predictiveness and market competition, and stakeholders should develop a more open-sourced model that uses artificial intelligence.

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Crypto.com and Triple-A partner to simplify crypto payments

The Paypers

Crypto.com and Triple-A have partnered to enable seamless crypto payments for online shoppers, offering merchants stable fiat settlements.

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Ex-CEO of failed Kansas bank banned from banking

American Banker

The Federal Reserve issued an enforcement action against the former head of Heartland Tri-State Bank, who embezzled millions of dollars after falling victim to a crypto scam.

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CFPB now able to regulate big tech firms' digital payment apps

The Paypers

The Consumer Financial Protection Bureau (CFBP) has finalised a regulation that allows it to supervise big tech companies providing digital funds transfer and payment wallet apps.

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10 Ways to Leverage Buyer Signals and Drive Revenue

In today’s ultra-competitive markets, it’s no longer enough to wait for buyers to show obvious signs of interest. Instead, sales teams must be proactive, identifying and acting on nuanced buyer behaviors — often before prospects are fully ready to make a purchase. In this eBook from ZoomInfo & Sell Better, learn 10 actionable ways to use these buyer signals to transform your sales strategy and close deals faster.

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Gary Gensler plans to step down from SEC in January

American Banker

The SEC chair's ambitious agenda drew fierce resistance from Wall Street and the crypto industry.

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Brazilian fintech Nubank considers domicile move to the UK

The Paypers

Nubank has considered shifting its legal base to the UK, an initiative that will mark an important step in Britain ’s push to encourage more tech firms to move to the country.

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Inside BNY's plans to upgrade Eliza, its generative AI platform

American Banker

The 2.0 version, expected to launch next year, will provide more detailed responses based on more complex, humanlike thought processes.

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Guavapay partners with American Express for payment acceptance options

The Paypers

Global fintech company Guavapay has announced its partnership with American Express in order to expand merchant payment acceptance options.

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Outsource With Confidence for RDC Program Success

Remote Deposit Capture (RDC) clients are more likely to use additional treasury services and maintain larger deposits. However, poor customer experiences—particularly if they delay deposits—can compel RDC clients to take their business elsewhere. This eBook makes the case for outsourcing RDC operations to a proven managed services partner. This approach helps Treasury Departments with limited resources provide excellent client experiences that result in higher retention and productivity rates.

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How Two Credit Unions Empowered Employees to be Market Ambassadors

The Financial Brand

This article How Two Credit Unions Empowered Employees to be Market Ambassadors appeared first on The Financial Brand. Striking a balance for banking brand enforcement is an art. Here’s our experience as marketing leaders navigating the risks and opportunities that come with managing our brand. This article How Two Credit Unions Empowered Employees to be Market Ambassadors appeared first on The Financial Brand.

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Alviere launches Cash-to-Cash cross-border remittance services

The Paypers

Alviere , a provider of Embedded Finance solutions, has introduced a new feature enabling its enterprise clients to offer cash-to-cash cross-border remittance services.

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OCC's Hsu: Banks and regulators should 'co-learn' about using AI

American Banker

Acting Comptroller of the Currency Michael Hsu said that while artificial intelligence is a potentially transformative technology, regulators should be wary of waiving liability for its use in banking.

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Finder acquires cashback platform to boost savings

The Paypers

Finder has acquired Grow My Money , an Australia-based cashback platform that converts everyday spending into home loans and superannuation contributions.

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Signal-Based Selling: How to Leverage 4 Key Buying Signals

As prospects define their problem, search for solutions, and even change jobs, they are generating high-value signals that the best go-to-market teams can leverage to close more deals. This is where signal-based selling comes into play. ZoomInfo CEO Henry Schuck recently broke down specific ways to put four key buying signals into action with the experts from 30 Minutes to President’s Club.