Wed.Sep 18, 2024

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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.

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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 417
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‘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
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Mastercard CFO to continue working after cancer diagnosis

Payments Dive

Decisions on medical disclosures can be challenging for companies. Mastercard’s approach drew high marks from some corporate governance experts.

Company 195
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Fall In Love With the Month-End Close

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.

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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

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Cash recycling: Leveraging its delicate balance

ATM Marketplace

Here are three newer recycling technologies and tools to consider.

Tools 99
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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
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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 87
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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.

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5 Ways You Can Win Faster with Gen AI in Sales

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.

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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
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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.

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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.

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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 66
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The Role of Automation in Commercial Lending

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.

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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.

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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.

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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
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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
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10 Ways to Leverage Buyer Signals and Drive Revenue

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.

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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.

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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.

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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
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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.

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Outsource With Confidence for RDC Program Success

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.

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Powell: Regulators will 'move as a group' on Basel re-proposal

American Banker

The Federal Reserve chair said he supports the revised proposal outlined by Vice Chair for Supervision Michael Barr and said the new proposal would get a vote by the full Board of Governors early next year.

Groups 37
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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.

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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
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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.

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Signal-Based Selling: How to Leverage 4 Key Buying Signals

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.