Wed.Sep 18, 2024

article thumbnail

Open banking safer than screen scraping, experts say

BankInovation

Open banking regulation should promote secure data sharing while eliminating the need for screen scraping. In the United States and Canada, screen scraping is still a common practice, Michelle Beyo, chief executive at consulting firm Finavator, said during this week’s Bank Automation News’ webinar, “The future of open banking – Payments meet data.

article thumbnail

Fed payments proposal pits big banks against small rivals

Payments Dive

The Federal Reserve’s proposal to extend the operating hours of two interbank payments systems has been welcomed by large banks, but panned by many small financial institutions.

Payments 269
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

The Messes I’d Unmake; The Blunders I’d Undo!

BankBazaar

Credit C ards are like friendships – You must choose them wisely as t hey can be a source of great support or a cause for a major downfall ! Now, let’s dive into the narrative tale of a C redit C ard journey gone awry and how you must learn from it! I’ve got a tale I’d like to share, a lesson learned in strife, Of Credit Cards and careless swipes that tangled up my life.

Cards 78
article thumbnail

CFPB takes aim at ATM, debit card fees

Payments Dive

Regulators should assume, as a default, that customers have not agreed to coverage and fees unless banks can provide signed agreements or recorded conversations, the agency said in a policy reminder.

ATM 195
article thumbnail

If It Ain't 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

article thumbnail

Transactions: Citizens Bank, Navan team up for travel expense management

BankInovation

Citizens Bank has teamed up with Navan to provide its commercial customers with travel expense solutions. “Dynamic travel policies are in demand given the changing landscape in travel and the unique needs of companies and employees,” Rodrigo Sanchez, head of commercial card solutions at Citizens, told Bank Automation News. “Clients are also looking for ways […] The post Transactions: Citizens Bank, Navan team up for travel expense management appeared first on Bank Automation News.

More Trending

article thumbnail

Cash recycling: Leveraging its delicate balance

ATM Marketplace

Here are three newer recycling technologies and tools to consider.

Tools 85
article thumbnail

Rain to offer EWA services via Workday

Payments Dive

The earned wage access provider will now be able to offer its services to more employers through the human resources software firm’s systems.

Resources 195
article thumbnail

‘At the end of the day, it’s all about financial empowerment’

ABA Community Banking

As chief corporate responsibility officer for Webster Bank, Marissa Weidner works across the bank's footprints and business lines to help advance the bank's goals of financial empowerment. The post ‘At the end of the day, it’s all about financial empowerment’ appeared first on ABA Banking Journal.

article thumbnail

Public Enemy review – anatomy of Greece’s economic crisis framed as epic tragedy

TheGuardian

Elisa Mantin’s film shows Greeks as the economic victims of ideologically motivated EU forces, imposing punishment-via-austerity Maybe the true Greek tragedy is the temptation to interpret everything that happens in that country under the long Hellenic shadow of history. It is former finance minister Yanis Varoufakis who suggests here that the 2010s debt crisis was akin to an ancient tragedy, with the likes of him, prime minister Alexis Tsipras and a slowly strangulated populace at the mercy of

Meeting 54
article thumbnail

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.

article thumbnail

Fed cuts interest rates by half percentage point

American Banker

The move signals the end of the Federal Reserve's battle against runaway inflation in the wake of the COVID-19 pandemic. Fed officials expressed divergent views on further action this year.

article thumbnail

Broadridge launches DLT Repo platform with Tier-1 Canadian bank

The Paypers

Broadridge Financial Solutions has announced that a Tier-1 Canadian bank has implemented its Distributed Ledger Repo for High-Quality Liquid Asset treasury securities management.

article thumbnail

Do credit unions have an overdraft problem?

American Banker

Overdraft fees continue to be in the spotlight, with the Consumer Financial Protection Bureau proposing a rule essentially to cap them. Certain credit unions are also now required to disclose additional information on this revenue stream.

article thumbnail

Febraban calls for expedited credit card betting ban in Brazil

The Paypers

The Brazilian Federation of Banks (Febraban) has urged the government to expedite its ban on using credit cards for betting, which is currently set to take effect on January 1, 2025.

Cards 41
article thumbnail

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.

article thumbnail

Bank stocks rise after Fed cuts benchmark rate by half point

American Banker

Policymakers signaled more reductions lie ahead, a development that could curb lenders' net interest income in the near term but support economic growth and credit quality.

article thumbnail

Farfetch, Volt to provide instant payments at checkout for shoppers

The Paypers

UK-based payments platform Volt has joined forces with Farfetch to bring the capabilities of Open Banking to the latter’s customers and allow them to conduct instant payments directly from their bank accounts.

article thumbnail

UK, Sweden plan to protect cash; Canada loves contactless pay

American Banker

Regulators in two countries are strengthening rules requiring banks and merchants to accept paper, while a majority of Canadian payments are now tap to pay.

article thumbnail

Bluefin, Moneris to simplify P2PE solutions for merchants in Canada

The Paypers

US-based payment and data security company Bluefin has expanded its partnership with Moneris to improve the latter’s P2PE solution to support Canadian merchants in their operations.

US 41
article thumbnail

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

article thumbnail

Silvergate executive blames Fed, FDIC and OCC for bank's collapse

American Banker

As Silvergate Capital filed for Chapter 11 bankruptcy protection, an executive said the company's crypto-friendly bank went down last year because regulators soured on its business model.

FDIC 41
article thumbnail

Investment platform Oblinor integrates Neonomics checkout offering

The Paypers

Open Banking specialist Neonomics has been chosen by Oblinor to provide a faster, more secure, and user-friendly checkout for users to deposit funds for investments.

article thumbnail

We're in a fraud epidemic. The US government needs to up its game

American Banker

Nothing less than a whole-of-government approach, in concert with the financial services industry, will be enough to address the spiraling cost of fraud to both businesses and consumers.

Fraud 43
article thumbnail

UniCredit seeks ECB approval to increase stake in Commerzbank to 30%

The Paypers

UniCredit had planned to seek approval from the European Central Bank (ECB) to potentially increase its stake in Commerzbank to 30%, according to sources familiar with the matter.

36
article thumbnail

Auditpalooza: Rocking the Month-End Close Audit

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

A good, fast, clean audit leads to a happy work life. Join us in this one-hour webinar, where we share the best ways to prepare and conduct your audit process to maximize audit satisfaction and minimize administrative time in month-end close and financial reporting. Learning objectives: This course objective is to review leading practices to maximize audit success.

article thumbnail

Lawsuit claims BMO fired whistleblower who called out overcharging

American Banker

In a new lawsuit, a former BMO employee says he was fired because he reported his concern that the bank was intentionally charging too much to clients who used a foreign-exchange product. BMO said it denies the allegations.

Report 36
article thumbnail

Fintechs: What Are They and How to Compete With Them

Image Works Direct

As technology advances and we continue to become an increasingly digital society, financial technology companies – fintechs – are beginning to become more prevalent than in years past.

Fintech 36
article thumbnail

'Cash flow smoothing': How Zip's US CEO sees the future of BNPL

American Banker

The BNPL industry is growing at a fast clip. Australia-based Zip's new CEO for U.S. operations is looking to carve out a place in what is becoming a crowded industry with expanded merchant partnerships and a Pay-in-8 product.

US 36
article thumbnail

IoTeX integrates Polygon Labs for cross-chain liquidity and connectivity

The Paypers

IoTeX and Polygon Labs have announced the integration of IoTeX 2.0 with Polygon ’s AggLayer, enhancing cross-chain connectivity and unified liquidity for DePIN projects.

36
article thumbnail

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