The Financial Brand
JANUARY 29, 2024
This article Fintech Funding Freeze May Thaw in 2024. But Failures May Multiply, Too appeared first on The Financial Brand. A comeback in fintech funding in 2024 may be matched by a culling of the weak. This article Fintech Funding Freeze May Thaw in 2024. But Failures May Multiply, Too appeared first on The Financial Brand.
Payments Dive
JANUARY 29, 2024
The cash advance provider “lured consumers in with false promises of free money advances,” and then made it difficult for them to cancel, FTC Director Samuel Levine said in a press release.
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CFPB Monitor
JANUARY 29, 2024
In October 2023, the Federal Reserve Board issued a proposal to lower the maximum interchange fee that a large debit card issuer can receive for a debit card transaction. The due date for comments on this proposal, originally February 12, 2024, has been extended to May 12, 2024. The Consumer Bankers Association (CBA) recently commissioned research on debit card interchange fee limits and the potential implications if the proposal to reduce debit interchange caps is finalized.
Payments Dive
JANUARY 29, 2024
The extended partnership between the two companies “focuses on co-development of new real-time payments capabilities,” a spokesperson for The Clearing House said.
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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.
CFPB Monitor
JANUARY 29, 2024
In recent years, the Federal Trade Commission (FTC) has been active in enforcement and policy initiatives in a number of developing consumer financial areas. Based on its active agenda in 2023, 2024 promises to be another year of significant activity for the FTC. On February 28, 2024, from 1:30 p.m. to 2:30 p.m.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
CFPB Monitor
JANUARY 29, 2024
A bi-partisan group of House members has sent a letter to CFPB Director Chopra to express concern about the CFPB’s rule setting forth its procedures for establishing supervisory authority over nonbanks engaged in conduct that poses risk to consumers. The Dodd-Frank Act provides that the CFPB can supervise a nonbank covered person that the CFPB “has reasonable cause to determine, by order, after notice to the covered person and a reasonable opportunity for such covered person to respond.
BankInovation
JANUARY 29, 2024
Valley Bank is looking to move all its operations to the cloud by 2026 to achieve efficiency and scalability. The $61 billion, Morristown, N.J.-based bank has between 75% and 80% of its operations on the cloud already, Chief Operations Officer Russ Barrett told Bank Automation News. Snowflake is Valley’s primary data hub provider, Barrett said.
CFPB Monitor
JANUARY 29, 2024
On January 24, 2024, Pennsylvania Attorney General, Michelle Henry announced a settlement with attorney Erik M. Helbing and his businesses Helbing Law, LLC, and Consumer Law Relief, LLC. (Respondents) to resolve alleged violations of the Pennsylvania Unfair Trade Practices and Consumer Protection Law (UTPCPL), the Pennsylvania Debt Settlement Services Act (DSSA), and the federal Telemarketing Sales Rule (TSR).
BankInovation
JANUARY 29, 2024
The peer-to-peer payments market is growing as consumer demand ticks up and new competitors enter the space. P2P payment market size is expected to reach $6.4 billion by 2028, according to a January report by market research group The Business Research Co. In fact, 81% of banked U.S.
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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
The Paypers
JANUARY 29, 2024
A BitPay report released in 2023, has shown that XRP saw a notable increase in usage for payment transactions on BitPay, with a 42% rise in transaction volume.
American Banker
JANUARY 29, 2024
Banks need to reckon with the explosive rise of legal online wagering and the addicts left in its wake.
The Paypers
JANUARY 29, 2024
Canada-based CGI has extended its partnership with the National Bank of Canada for another ten years through an extended service agreement.
American Banker
JANUARY 29, 2024
Acting Comptroller of the Currency Michael Hsu said Monday his agency is rescinding a rule that requires merger applications to be considered approved 15 days after of a comment period's closure, part of a broader effort to rethink the bank merger process.
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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.
The Paypers
JANUARY 29, 2024
TransUnion Hong Kong has announced the launch of its new Dark Web Monitoring identity protection service, intending to protect consumers’ identity and personal data.
American Banker
JANUARY 29, 2024
The recent leadership turmoil at OpenAI underscored the importance of the due diligence banks must conduct before working with a generative artificial intelligence vendor.
The Paypers
JANUARY 29, 2024
Digital engineering enabler Nagarro and banking software company Temenos have signed an agreement to develop Temenos Country Model Banks in Romania and Poland.
American Banker
JANUARY 29, 2024
With the growing interest in generative AI, it seems inevitable that some banking jobs will change while others will be eliminated entirely.
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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.
The Paypers
JANUARY 29, 2024
Germany-based GFT Technologies has announced its agreement to acquire Colombia-based Sophos Solutions , aiming to solidify its presence in Latin America.
American Banker
JANUARY 29, 2024
Google Pay's collaboration with the country's digital transaction network is the latest example of Indian tech informing strategy elsewhere in the world, including the U.S.
The Paypers
JANUARY 29, 2024
European cloud-based neobank Viva.com has partnered with Conecs to allow physical and digital meal voucher card transactions via its Terminal app.
American Banker
JANUARY 29, 2024
The longtime Most Powerful Women in Banking honoree looks back on her 40-year career and the power of persistence.
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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.
The Paypers
JANUARY 29, 2024
India-based Newgen Software has partnered with UK-based Finastra to augment loan origination and integrate lending solutions with the latter’s LaserPro platform.
American Banker
JANUARY 29, 2024
Jim Esposito, one of Goldman Sachs Group's most senior executives, is leaving after almost three decades with the firm.
The Paypers
JANUARY 29, 2024
Sharjah Islamic Bank has partnered with Noqodi , a financial technology firm and payment gateway owned by Emaratech Group, to improve its digital payment services.
American Banker
JANUARY 29, 2024
Financial services companies are still in the early days of utilizing artificial intelligence, meaning they must closely examine any partnership with a third party. This includes demanding evidence to back up any performance claims these outside companies make.
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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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