Thu.Jul 25, 2024

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Zelle, big banks challenge senators on scam reimbursements

Payments Dive

Forcing banks to reimburse authorized payments could encourage bad behavior and would not deter scammers, bank executives said in a Senate hearing.

Payments 448
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BNP has identified 780 AI use cases

BankInovation

BNP Paribas is investing in AI, cloud infrastructure and cyber security as part of its modernization efforts. “The second quarter marked the continuation of our ambitious but disciplined development within AI,” Chief Financial Officer Lars Machenil said during the bank’s earnings call on July 24.

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How open finance powers a more inclusive and collaborative payments industry

Payments Dive

Open finance is transforming payments – here’s what financial institutions need to know.

Industry 370
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Lloyds expects to save $901M through tech in 2024

BankInovation

Lloyds Bank is looking to modernize its platform through AI and beefing up its tech team. “By digitizing end to end and modernizing our technology estate, we’re increasing efficiency benefits as we scale,” Chief Executive Charlie Nunn said during the bank’s second-quarter earnings call today.

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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.

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Clair CEO backs CFPB rule proposal on EWA

Payments Dive

Nico Simko supports the Consumer Financial Protection Bureau’s recent rule proposal, and it may be a competitive advantage for him.

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Revolut faces more fraud claims than other UK banks: report

Payments Dive

The fintech investigates each fraud claim independently of other cases, and takes such claims “incredibly seriously,” a spokesperson for the company said.

Fraud 195
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Revolut wins long-awaited UK banking license from watchdog

BankInovation

Revolut Ltd. said it received a British banking license from regulators, a move that allows the fintech firm to better challenge traditional banking giants such as Barclays Plc and HSBC Holdings Plc.

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NYCB reports quarterly loss, plans to sell mortgage servicing unit

American Banker

New York Community Bancorp reported a net loss of $323 million for the second quarter as it further boosted its provision for credit losses and recorded a steep increase in net charge-offs. The parent company of Flagstar Bank also plans to sell its residential mortgage servicing business to Mr. Cooper.

Report 84
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China lowers key interest rates to spur economic growth

The Paypers

China has reduced its short and long-term interest rates to stimulate economic growth just days after a major Communist Party leadership meeting.

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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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Regulators issue joint warning on bank-fintech risks

American Banker

While the federal banking agencies are not changing any current rules, they issued a joint statement Thursday cautioning banks about risks in third-party deposit partnerships. They are also seeking public input on bank-fintech partnerships more generally.

Fintech 50
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Nuggets joins forces with Carahsoft

The Paypers

UK-based self-sovereign digital identity and payment platform Nuggets has teamed up with Carahsoft , with the latter becoming its Master Government Aggregator.

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Don't fall for the false promises of federal preemption

American Banker

The siren song of greater regulatory uniformity will lead the industry to disaster, as the kind of innovation that benefits consumers is stifled.

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EBA publishes new JC Guidelines to credit servicers

The Paypers

The European Banking Authority (EBA) has issued the final Guidelines that focus on furthering the existing Joint Committee Guidelines on complaints management to credit servicers.

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If It Aint Broke, Don’t Fix It: A Dangerous Mindset

Time and time again we tell ourselves and others NOT take action on something that is not "broken." We apply that mindset at home and at work. Sometimes, it doesn’t work out so well. Because when it's truly broken, it's usually an emergency, costs more and causes stress. Join us in this webinar where we share ways where you are able to anticipate your needs, understand benefits that you will get from getting better now instead of later, and relieving your team of tasks that they don't need to be

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Michigan community banks strike deal to merge

American Banker

ChoiceOne Financial Services would pay about $180 million to acquire Fentura Financial in a bid to expand in Detroit's suburbs. The deal would create a bank with more than $4 billion of assets.

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foodpanda joins forces with Cybersource

The Paypers

Delivery company foodpanda , a subsidiary of Delivery Hero, has entered a collaboration with Cybersource , a Visa solution, to optimise the customer experience via improved payments.

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First Citizens gets earnings lift from SVB clients returning to the fold

American Banker

The Raleigh, North Carolina-based bank grew loans and deposits in the second quarter as it won back business from former customers of the failed Silicon Valley Bank. First Citizens bought the remains of SVB last spring.

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Bankzy Open Banking launches new feature in the UK

The Paypers

Bankzy Open Banking , together with Payment Pros , has announced the launch of a new Payment Links solution in the UK, optimising its technology offering.

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Is Your Current Card Platform Holding You Back?

Have you ever felt the pain and loss of a client suddenly going silent, leaving you questioning everything? Ghosting can cause heartbreak; in business, it drains resources, and emotionally, it shatters your confidence. A modern credit card program can give you the tools to deliver the digital-first experiences your customer’s demand. Our eBook, “5 Signs Your Credit Card Offering Needs an Upgrade,” will help you identify key indicators that your current card platform may be holding you back and w

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Treasury's big push to protect banks from cyber threats

American Banker

Project Fortress encompasses four initiatives Deputy Secretary Wally Adeyemo hopes will "improve the security and resilience of the financial services sector.

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Kenya's Diamond Trust Bank partners with Network International

The Paypers

Kenya’s Diamond Trust Bank has announced its partnership with Network International in order to provide its clients with digital payment solutions.

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Mortgage rates rise on anticipation of economic news

American Banker

But following the gross domestic product and personal consumption expenditures reports, Treasury yields and mortgage rates fell.

Report 41
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Paysafe partners with Alchemy Pay

The Paypers

Paysafe has partnered with Alchemy Pay , for the latter to access Paysafe’s suite of payment products for consumers to use their fiat funds to purchase crypto across 130 markets.

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How Unify Turned Month-End Mayhem Into a Growth Party With Automation!

By ditching paper and manual checklists, UNIFY embraced ART’s cloud-based solution for seamless automation. The robust dashboards, exception reports, and completion date reports allowed the team to easily track progress and resolve bottlenecks. ART’s flexible access for auditors ensured tight deadlines were met effortlessly. With competitive pricing and a rapid setup, ART cut costs and minimized disruptions, enabling UNIFY’s team to concentrate on high-impact tasks.

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Is Target's ban the beginning of the end for checks?

American Banker

The big box retailer's move comes amid a broader decline for the traditional payment option.

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U.S. Bank introduces automated, end-to-end supplier accounts receivable platform

The Paypers

U.S. Bank has introduced a comprehensive accounts receivable (AR) platform to help suppliers accelerate cash flow, cut costs through automation and deliver better payment experiences.

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Cullen/Frost goes big in Texas, gets boost from energy lending

American Banker

The San Antonio-based bank is in the midst of a yearslong expansion effort spanning Houston, Dallas and Austin — all of which are fueling loan growth.

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Sage and Stripe partner to augment SMB payment solutions

The Paypers

Sage , an HR, payroll, accounting, and financial technology company has expanded its partnership with Stripe to improve cashflow management and payment processing for SMBs.

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3 Ways Managed Device Services Help Community Banks Cut Costs

Community banks seek ways to leverage their technology infrastructure to drive productivity and growth. However, the sheer volume of technology devices, capital constraints, and lack of skilled resources stand in the way. This Strategy Brief explores how a managed device services partner can help bridge this resource gap. Managed device services partners empower community banks to take charge of mission-critical device management activities with: Logistics and installation services to support se