Mon.Apr 08, 2024

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Fiserv CEO compensation rose last year to $28M

Payments Dive

Compensation for Fiserv CEO Frank Bisignano climbed 57% over 2022, as the value of stock awarded to him surged and he received a $3 million cash bonus.

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Ensuring Banking Compliance Through Project Management Expertise

Perficient

A top-leading bank, grappling with business and regulatory challenges, faced scrutiny after failing the Federal Reserve’s annual stress test. Addressing these deficiencies required a comprehensive approach, leading to the establishment of critical programs like the US Bank Holding Company (BHC) regulatory and comprehensive capital analysis and review (CCAR) program.

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Tension brews over healthcare payments: JPMorgan

Payments Dive

Healthcare consumers are often confused about the bill payment process, while providers grapple with delays and high collection costs, according to a survey by the bank.

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JPMorgan CEO: 70% of applications to be cloud-native by yearend

BankInovation

JPMorgan continues its cloud migration efforts as it works to move its applications and data to the cloud this year. “Getting our tech to the cloud. … It’s essential,” Chief Executive Jamie Dimon said today in his 2023 letter to shareholders. The $3.

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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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Global economic risks ‘could eclipse anything since second world war’, says JP Morgan boss

TheGuardian

In annual letter to investors, Jamie Dimon warns ‘wars in Ukraine and Middle East could become far worse’ The boss of the US bank JP Morgan has warned that the world could be facing the most dangerous moment since the second world war, putting lives and economic growth at risk. In his annual letter to investors , Jamie Dimon said the world had been “generally on a path to becoming stronger and safer” in recent years but had suffered a major reversal in February 2022 when Russia invaded Ukraine.

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How commercial real estate challenges are affecting banking

American Banker

A combination of higher interest rates and increased vacancies — especially in office buildings — are leading to more apprehensions in commercial real estate.

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ZA Bank supports stablecoin issuers for web3 adoption

The Paypers

Hong Kong-based ZA Bank has announced plans to offer banking services for stablecoin issuers to cater to the increase in local web3 adoption.

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Young Women's Leadership Award college scholarship: Apply now

American Banker

The $5000 scholarship from American Banker and Discover is for high school seniors in New York City who are the first generation in their family to attend college. The deadline to apply is May 8, 2024.

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LemFi receives CBK approval for Kenya remittance operations

The Paypers

US-based fintech LemFi has received regulatory approval from the Central Bank of Kenya (CBK) to operate remittances in Kenya.

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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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Scott introduces measure to overturn CFPB late fee rule

American Banker

Sen. Tim Scott, R-S.C., ranking member of the Senate Banking Committee, introduced a Congressional Review Act resolution to undo the Consumer Financial Protection Bureau's credit card late fee rule.

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Hokodo receives EUR 100 million debt facility

The Paypers

UK-based B2B Buy Now, Pay Later (BNPL) solution provider Hokodo has announced that it secured a EUR 100 million debt facility from Viola Credit to support B2B transactions.

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Use the Capital One-Discover deal to reshape the credit card market

American Banker

Any approval of the proposed Capital One-Discover merger must come with a pro-competitive 1% interchange fee condition to benefit consumers and small businesses and challenge the dominating duopolist Visa, and a pro-community 5% deposit reinvestment condition.

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PayRetailers receives licence from the Central Bank of Brazil

The Paypers

Payment processing solutions company PayRetailers has announced that it secured its approval from the Central Bank of Brazil (BC) to operate as a payment institution.

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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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Schumer presses Capital One, Discover on merger deal

American Banker

Senate Majority Leader Chuck Schumer, D-N.Y., said that he would like to examine the proposed acquisition on "narrower bases.

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Experian to acquire illion

The Paypers

Financial information services company Experian has decided to acquire illion for nearly USD 542.10 million, in a bid to expand into Australia and New Zealand.

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Why Amex is still expanding its pandemic-era restaurant-rescue program

American Banker

To help historic restaurants facing dramatic losses when COVID struck, American Express rolled out grants to 25 needy restaurateurs. Four years later, the program is reaching twice as many establishments and the card network's investment has more than doubled.

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Crédit Agricole and Worldline launch joint payment service 'CAWL'

The Paypers

France-based bank Crédit Agricole has partnered with Worldline to launch CAWL, a joint venture that provides tailored payment services to merchants.

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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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Dimon likens AI's transformational potential to the steam engine

American Banker

In his annual letter to shareholders, JPMorgan Chase CEO Jamie Dimon wrote that the bank has identified more than 400 use cases for artificial intelligence across marketing, fraud and risk. It has also amassed thousands of AI experts and data scientists and begun exploring deploying generative AI.

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Finyoz lendtech partners Currencycloud

The Paypers

Finyoz , a lendtech platform specializing in short-term invoice financing, has partnered with Currencycloud , a provider of services for simplifying business transactions across various currencies.

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Fifth Circuit keeps CFPB $8 late fee case in Texas

American Banker

The case over the Consumer Financial Protection Bureau's $8 late fee rule has emerged as a flashpoint in a larger debate over "judge shopping," whereby plaintiffs seek venues with judges sympathetic to their complaints.

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CAB Payments receives European payment service provider licence

The Paypers

CAB Payments Europe has announced that it secured a payment service provider licence with De Nederlandsche Bank and established headquarters in Amsterdam.

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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 warns banks of video games' money laundering, fraud risks

American Banker

A new report sheds light on the lack of player protections against scams and exploitive data collection practices of video game companies.

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Finzly launches Account Galaxy for embedded banking

The Paypers

Finzly , a provider of money movement systems to financial institutions, has announced the launch of Account Galaxy, a solution designed to equip banks to participate in the embedded banking sector.

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How Bank of America Seamlessly Melded Five Apps into One

The Financial Brand

This article How Bank of America Seamlessly Melded Five Apps into One appeared first on The Financial Brand. Blending BofA and Merrill apps into one with common functionalities was a step-by-step project that took years. This article How Bank of America Seamlessly Melded Five Apps into One appeared first on The Financial Brand.

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GSR Markets receives Singapore license for crypto trading

The Paypers

The Monetary Authority of Singapore (MAS) has granted a Major Payment Institution license to crypto market maker GSR Markets.

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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.