X plans payments launch for this year
Payments Dive
JANUARY 10, 2024
“I would be surprised if it takes longer than the middle of [2024] to roll out payments,” X owner Elon Musk said during a conversation last month with Ark Invest CEO Cathie Wood.
Wed.Jan 10, 2024
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Loan Hedging for Community Banks in 2024
South State Correspondent
JANUARY 10, 2024
Community banks’ use of swaps (banks’ primary tool to hedge interest rate risk on loans) has increased substantially over the last ten years. The market expects the current inverted yield curve to remain through much of 2024 (based on long-term interest rates and the expected rate cuts in 2024). Meanwhile, community banks face net interest margin (NIM) and fee income pressure.
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Visa debuts Web3 loyalty program
Payments Dive
JANUARY 10, 2024
As the card network behemoth ventures into the Web3 experience, some firms are scaling back there.
Bank Value: Here is a Better Way to Calculate and Manage
South State Correspondent
JANUARY 10, 2024
Ask a banker about the value of their bank, and they will either talk about some derivation of book value or earnings multiple. While these bankers are not wrong, they are not exactly right. While both valuation methods provide everyone with a nice, tidy sum of value, the data could be more actionable. You might find out that your low cost of funds or higher-than-average net interest margin likely drives the bulk of your bank’s value, but then what do you do?
Fall In Love With the Month-End Close
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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.
California’s DFPI fines Credova $50K
Payments Dive
JANUARY 10, 2024
The buy now, pay later provider catering to gun sellers didn’t inform consumers of potential convenience fees, the state agency said.
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Remitly taps ads to woo new clients
Payments Dive
JANUARY 10, 2024
The cross-border payments company has boosted marketing to build up its remittance clientele.
Bank of England may cut interest rate sooner after surprise inflation forecast
TheGuardian
JANUARY 10, 2024
Forecasters at three leading institutions suggest inflation rate will halve to 2% by April The Bank of England may be forced to bring forward the date of its first interest rate cut after three leading forecasters issued a surprise update suggesting the inflation rate will halve to 2% by April. The Oxford Economics consultancy and analysts at Investec and Deutsche Bank have reassessed their outlook for inflation in 2024 and concluded that the consumer prices index (CPI), which dropped to 3.9% in
The world is as you are
Realwired Appraisal Management Blog
JANUARY 10, 2024
The world isn’t as it is. The world is as you are. Our valuation industry needs a new roadmap, a new path. More connections, more optimism, more enthusiasm to improve. It’s on you. It’s on me. Let’s get to work.
The Navy Federal discrimination case should be a lesson for banks
American Banker
JANUARY 10, 2024
The country's largest credit union is learning the hard way that failure to assure inclusivity in lending practices is a recipe for both financial and reputational damage.
5 Ways You Can Win Faster with Gen AI in Sales
Advertiser: ZoomInfo
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.
X announces peer-to-peer payments
The Paypers
JANUARY 10, 2024
The social media platform X has announced plans to launch peer-to-peer payment business, aiming to allow more user utility and new opportunities for commerce.
Ant looks to buy Dutch firm; Adyen seeks merchants in Iceland
American Banker
JANUARY 10, 2024
In addition to Ant's possible deal to buy MultiSafepay and Adyen's work with Straumur, Visa has partnered with TECH5 on government ID and Mastercard is expanding its virtual-card network through Rawbank.
OCC to Host Public Hearing on Appraisal Bias
CFPB Monitor
JANUARY 10, 2024
The Federal Financial Institutions Examination Council’s Appraisal Subcommittee (ASC) will host a public hearing on appraisal bias on February 13, 2024. This will be the fourth public hearing on appraisal bias, and like the previous hearings, will be hosted by a panel of representatives from each of the FFIEC federal regulatory agencies.
From California to Canada: RBC looks to move jobs north
American Banker
JANUARY 10, 2024
Royal Bank of Canada hopes to save money by moving positions from high-cost California to Vancouver. The Toronto-based company is looking to cut costs as it seeks to bolster the earnings of its Los Angeles-based City National Bank subsidiary.
The Role of Automation in Commercial Lending
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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.
CBA launches overdraftfacts.com to provide insights to policymakers
CFPB Monitor
JANUARY 10, 2024
On January 8, 2023, the Consumer Bankers Association (CBA) announced the launch of a new microsite, overdraftfacts.com , to demonstrate the value overdraft services provide to consumers, highlight bank-driven overdraft and non-sufficient funds (NSF) innovations and reforms that have significantly reduced consumer costs, and serve as a resource for policymakers.
Grasshopper Bank looks to AI for CX, back-office automation
BankInovation
JANUARY 10, 2024
Grasshopper Bank is looking to AI for internal and external uses as the technology is expected to streamline manual employee tasks and improve the overall client experience. The New York-based digital bank is taking a cautious approach to AI, Grasshopper Chief Executive Mike Butler told Bank Automation News.
The year's first credit union purchase of a bank is a big one
American Banker
JANUARY 10, 2024
Hudson Valley Credit Union, which has $6.9 billion of assets, is buying Catskill Hudson Bancorp, which has $593 million of assets — more than any bank acquired by a credit union last year.
Citi TTS exec to be fireside speaker at Bank Automation Summit U.S. 2024
BankInovation
JANUARY 10, 2024
Naveed Anwar, managing director and global head of digital and data platforms at Citi Treasury and Trade Solutions, will be featured in a fireside chat at Bank Automation Summit U.S. 2024 on Monday, March 18, at 2:15 p.m. CT, to discuss how AI is transforming the industry.
10 Ways to Leverage Buyer Signals and Drive Revenue
Advertiser: ZoomInfo
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.
Intuit TurboTax included in Credit Karma and QuickBooks
The Paypers
JANUARY 10, 2024
US-based Intuit has announced the integration of its TurboTax service into Credit Karma and QuickBooks , for improved tax preparation and filling across its ecosystem.
Transactions: Mitra Chem looks to Arc’s financing marketplace for debt financing
BankInovation
JANUARY 10, 2024
Digital bank Arc launched a venture debt financing platform to fill a gap in the market that surfaced during the 2023 banking crisis. When Silicon Valley Bank collapsed in March, the venture debt marketplace was left underserved, which “unlocked this market opportunity for [Arc],” Chief Executive Don Muir told Bank Automation News.
IRS move narrowing access to tax data sparks lender outrage
American Banker
JANUARY 10, 2024
The agency plans to restrict access to a system that provides borrower tax returns to mortgage lenders beginning June 30. Left out of the loop, small-business lenders say getting credit to borrowers will become more difficult as a result.
ADIB launches its B2B marketplace
The Paypers
JANUARY 10, 2024
The Abu Dhabi Islamic Bank has announced the launch of its ADIB Business Souq, a B2B marketplace developed to optimise the development of SMEs in the UAE.
Outsource With Confidence for RDC Program Success
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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.
Can banks benefit from the DoJ's pressure on Apple Pay?
American Banker
JANUARY 10, 2024
A potential antitrust lawsuit may open iPhones to outside payment apps. But any bank that seeks to profit from the Department of Justice's moves will face a host of other challenges.
Socure achieves StateRAMP authorisation
The Paypers
JANUARY 10, 2024
Digital identity verification and fraud solutions provider Socure has announced it achieved StateRAMP authorisation, enabling state and local governments to verify digital identities accurately and securely.
Hacker hijacked phone number to post fake SEC tweet
American Banker
JANUARY 10, 2024
SEC Chairman Gary Gensler clarified Tuesday that a post on X from the official SEC account that the commission had approved bitcoin ETFs was the result of a hack. X said the SEC did not have multifactor authentication enabled on its account.
The Government of Indonesia to launch 9 superapps
The Paypers
JANUARY 10, 2024
The Government of Indonesia has announced its plan to launch 9 superapps, in order to optimise the manner in which individuals access public services.
Signal-Based Selling: How to Leverage 4 Key Buying Signals
Advertiser: ZoomInfo
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.
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