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 412
Insiders

Sign Up for our Newsletter

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

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.

Resources 111
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

Back to Basics with Reconciliations

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.

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

More Trending

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 101
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

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.

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

How a Managed Services Partner Can Reduce the Friction in Your RDC Program

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

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 80
article thumbnail

Cash recycling: Leveraging its delicate balance

ATM Marketplace

Here are three newer recycling technologies and tools to consider.

Tools 99
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

Study finds most payment leaders see a need for tech upgrades

The Paypers

A recent study by global payments infrastructure provider Primer has revealed that 80% of payment leaders worldwide see a need for significant technology updates.

Study 62
article thumbnail

Budget Playbook for Commercial Lenders — Bank and Credit Union Edition

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.

article thumbnail

What bankers can learn from the CBA's foray into influencer campaigns

American Banker

The Consumer Bankers Association launched its first campaign using social media influencers to promote credit card education, experimenting with a mix of personalities and refraining from specific card recommendations.

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

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

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

It Takes Two to Tango

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.

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 58
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

Where have all the new banks gone?

American Banker

Only one de novo has opened in 2024, while more than 100 launched annually prior to the 2008 financial crisis. Experts don't agree on how to solve the problem.

How To 41
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.

41
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

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

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

'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

Veriff completes iBeta Level 2 compliance evaluation

The Paypers

Veriff , a provider of global identity verification (IDV) and authentication services, has completed the ISO/IEC 30107-3 iBeta Level 2 compliance evaluation.

article thumbnail

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.