How Google’s settlement will change in-app payments
Payments Dive
DECEMBER 21, 2023
Google’s settlement with attorneys general this week includes a lengthy list of changes the tech titan must make in its approach to in-app payments.
Thu.Dec 21, 2023
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Understanding U.S. Regulator’s Proposed Extended Comment Period
Perficient
DECEMBER 21, 2023
Earlier this year, the Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System (Fed), and the Federal Deposit Insurance Corporation (FDIC) unveiled a proposed rule that would reshape the landscape for certain financial institutions. In this article, we delve into the latest developments around the extended comment period, providing stakeholders an increased opportunity to share their insights.
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Walmart adds Affirm to self-checkout kiosks
Payments Dive
DECEMBER 21, 2023
In an expanded partnership between the two companies, Walmart is adding Affirm’s buy now, pay later option at its checkout kiosks at most stores.
Top 5 posts 2023
BankUnderground
DECEMBER 21, 2023
Rebecca Freeman As another year draws to an end and the blog prepares for some downtime over the festive period, we wanted to take a look back at the blog in 2023. In case you missed any of our posts the first time round, the five most viewed posts for the year were: How house prices respond to interest rates depends on where they are in the country Why lower house prices could lead to higher mortgage rates Bomadland: How the Bank of Mum and Dad helps kids buy homes ‘There is all the difference
Back to Basics with Reconciliations
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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.
Data startup Spade aims for larger customers
Payments Dive
DECEMBER 21, 2023
Spade is tapping its recent funding to try to lure more big U.S. banks to its services, CEO Oban MacTavish said.
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Will banks win or lose in the new generation of digital wallets?
American Banker
DECEMBER 21, 2023
Multi-function wallet apps will support shopping, loyalty, paying at the pump or EV charging station and crypto asset management, challenging the roles of U.S. financial institutions.
This week’s podcast episode: What recent developments in federal preemption for national and state banks mean for bank and nonbank consumer financial services providers
CFPB Monitor
DECEMBER 21, 2023
Providers of consumer financial services that rely on federal preemption to charge customers uniform interest rates and fees on a nationwide basis are currently facing a series of legislative and litigation challenges. In this episode, which repurposes a recent webinar, we first discuss the U.S. Supreme Court’s grant of certiorari in Cantero v.
FDIC draws bright line between insured and uninsured
American Banker
DECEMBER 21, 2023
The Federal Deposit Insurance Corp. finalized rules governing display of the FDIC logo Wednesday, requiring a new digital FDIC sign on online banking platforms beginning in 2025, conspicuous physical signs in nontraditional bank facilities and explicit labeling of insured and non-deposit products.
Credit Acceptance Corp. launches RTP with Citizens
BankInovation
DECEMBER 21, 2023
Credit Acceptance Corp. went live Dec. 19 with real-time payments for its dealer base through a partnership with Citizens Financial Group. Dealers can receive payments six times per day, Monday through Saturday and on select holidays, Credit Acceptance (CAC) Chief Marketing and Product Officer Andrew Rostami told Auto Finance News, a sister publication to Bank Automation News.
How a Managed Services Partner Can Reduce the Friction in Your RDC Program
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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
With deposits steady and lending flat, focus shifts to credit quality
American Banker
DECEMBER 21, 2023
Funding pressures moderated in recent months, but loan charge-offs climbed. With festering concerns about a vulnerable economy, the potential for elevated credits costs could loom large over the upcoming bank earnings season.
Fintech Funding: Fintech venture fund Canapi raised $750M
BankInovation
DECEMBER 21, 2023
As the global economy faced macroeconomic headwinds coupled with rising rates, fintech funding in 2023 remained subdued compared to prior years. Global fintech funding stood at $30.
How JPMorgan Chase and Capital One became AI leaders
American Banker
DECEMBER 21, 2023
Six North American banks did well in Evident's latest assessment of banks' AI efforts, but JPMorgan and Capital One have a clear lead.
‘Every company will be compromised’ by hackers, experts say
BankInovation
DECEMBER 21, 2023
Fraudsters continue to do damage in the finance industry, evidenced by recent attacks against Fidelity National Financial and Mr. Cooper, and financial institutions must strengthen their systems to avoid hacks and respond to breaches. In 2023, the average cost of a data breach in the financial industry was $5.
Budget Playbook for Commercial Lenders — Bank and Credit Union Edition
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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.
Co-operative Bank in merger talks with Coventry Building Society
TheGuardian
DECEMBER 21, 2023
Talks with hedge fund owners could return ethical bank to its mutual roots and create high street challenger with 5m customers Coventry Building Society is in exclusive talks to potentially buy the Co-operative Bank from its hedge fund owners, in a move that would return the ethical bank to member ownership and create a high street challenger with nearly 5 million customers.
Fincen issues final beneficial ownership access rule
American Banker
DECEMBER 21, 2023
The Financial Crimes Enforcement Network issued a final rule on beneficial ownership information ahead of a deadline to start reporting this data on January 1, 2024, with revisions to address concerns from lawmakers and banking advocates.
Development Bank selects Newgen Software
The Paypers
DECEMBER 21, 2023
Oman-based Development Bank (DB) has selected Newgen Software to simplify its banking processes and provide enhanced experiences.
24 people who will change banking in 2024
American Banker
DECEMBER 21, 2023
CEOs, regulators, advocates, lawmakers: who will have the biggest impact on the banking industry this year?
It Takes Two to Tango
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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.
HMV taps Worldpay from FIS for European expansion
The Paypers
DECEMBER 21, 2023
Worldpay from FIS has partnered with music and entertainment retailer HMV to support its European expansion with an enhanced omnichannel strategy developed alongside FreedomPay.
The Federal Home Loan banks should embrace their housing mission
American Banker
DECEMBER 21, 2023
The banks' resistance to changes being recommended by the Federal Housing Finance Agency do not bode well for their future or that of the industry.
Payoneer launches new product features for SMB growth
The Paypers
DECEMBER 21, 2023
Fintech company empowering SMBs to transact, do business, and grow globally Payoneer has launched new features to improve the customer experience and help entrepreneurs connect with the global economy.
Extra arbitration hurdles at Zelle, Klarna draw criticism
American Banker
DECEMBER 21, 2023
Corporations and trial lawyers have long fought over whether consumers should be forced into arbitration to resolve their complaints. Now there's a new wrinkle: It's becoming harder for aggrieved customers to even get to arbitration.
The 2024 Lenders Guide to Automating the Complex Loan
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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.
PayPal to amend terms and conditions under EU customer rules
The Paypers
DECEMBER 21, 2023
Financial technology company PayPal has announced its commitment to modify its terms and conditions in order to fully comply with the European Union ’s consumer laws.
New Jersey banks extend deadline to close their $1.3 billion merger
American Banker
DECEMBER 21, 2023
Provident Financial in Iselin initially anticipated completing its deal for Oak Ridge-based Lakeland Bancorp in the second quarter. Now as it waits for regulatory approval, Provident says the process will stretch into spring 2024.
Trigger Software partners with Mambu
The Paypers
DECEMBER 21, 2023
Software development services provider Trigger Software has partnered with Mambu to launch a Neobank Engine solution that supports the development of digital neobanks.
Citigroup is exiting distressed debt trading
American Banker
DECEMBER 21, 2023
As CEO Jane Fraser's restructuring of the embattled bank takes shape, the decisions show Citi's willingness to part with certain franchises, even if they are competitive, in the pursuit of lifting returns in line with major U.S. peers.
Confronting the Change Challenge
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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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