Wed.Jun 26, 2024

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Banking eras change, but some priorities shouldn't

American Banker

Eras come and go, but the ongoing investments in developing, empowering, leading and retaining superior personnel will remain the highest priority of top-performing financial institutions.

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Amex banks on spending at high-end restaurants

Payments Dive

Analysts say American Express wants to cash in on the restaurant industry’s success and give customers admission to hard-to-access premium experiences.

Industry 415
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Surge in credit report lawsuits has banks, credit agencies scrambling

American Banker

Banks and financial institutions face a barrage of lawsuits from consumers alleging they failed to investigate inaccurate information on a credit report. Industry blames the uptick in litigation on social media sites and the proliferation of credit repair companies.

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Bank of America zeroes in on banking app innovation

Payments Dive

The team behind the bank’s CashPro app aims to stay a step ahead of rivals, including with payment approval features.

America 419
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Navigating the Automation Landscape: Selecting Tools That Fit Your Business

Speaker: Gary Dmitriev

Automation promises increased efficiency and reduced costs, but how do you sift through the hype to find the right solution for your organization? Our upcoming webinar aims to demystify the process of selecting and implementing automation tools. This session will provide your roadmap for vetting potential solutions, focusing on due diligence, vendor assessments, and aligning technology with strategic goals.

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FTV Capital deepens European business

BankInovation

Investment firm FTV Capital is expanding its European presence with a London office. The London team of six, led by Richard Earnshaw, will “work on deals in collaboration with FTV’s U.S.

Capital 62

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Transactions: U.S. Bank teams with Greenlight for family banking

BankInovation

U.S. Bank has teamed with debit fintech Greenlight Financial Technology to help parents teach financial literacy to their children. “U.S. Bank is the first financial institution to offer Greenlight through an embedded mobile app experience,” Brandon Horne, general manager of partnerships at Greenlight, told Bank Automation News.

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Sift's report shows concerning increase in AI-related fraud

The Paypers

US-based fraud detection provider Sift has launched its Q2 2024 Digital Trust Index, which revealed that 76% of businesses currently face AI-enabled fraud consistently.

Fraud 45
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Tech leader at Starling Bank to speak at Bank Automation Summit Europe 2024

BankInovation

Zahra Gill, head of enhanced due diligence and financial crime strategy and change lead at Starling Bank, will speak at Bank Automation Summit Europe 2024 about the AI revolution in banking. The summit, taking place Oct.

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Connect Money secures USD 8 million in seed funding

The Paypers

Egypt-based Banking-as-a-Service startup Connect Money has announced that it secured USD 8 million in seed funding in a round co-led by several venture capital firms.

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Case Study: First Mid Bank Fast-Tracks New Market Entry in Commercial Lending

Discover First Mid Bank's Expansion Success with Our Case Study! Discover how First Mid Bank & Trust fast-tracked market expansion through advanced automation and compliance solutions. This case study reveals their journey from facing challenges in Texas' complex legal landscape to achieving rapid market entry with GoDocs' innovative commercial closing platform.

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School’s out, but financial literacy is still in

ABA Community Banking

Summer is the moment to shine for banks’ community engagement. The post School’s out, but financial literacy is still in appeared first on ABA Banking Journal.

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Nuapay joins UK public sector Open Banking Framework

The Paypers

Nuapay has been included in the number of approved suppliers on the Crown Commercial Service ’s (CCS) Open Banking Dynamic Purchasing System (DPS) framework.

System 41
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Webinar Recap: Strengthening Accountholder Relationships

Image Works Direct

Customers who are new to your bank or credit union likely don’t know everything you offer or the perks of using your services for all their financial needs. To close that gap, we recommend being proactive and consistent with your marketing to strengthen the relationships you have with accountholders – and that’s what we talked about in our most recent webinar!

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Sesame Online partners with iDenfy

The Paypers

Bulgaria-based Sesame Online has announced its partnership with iDenfy in order to automate iGaming onboarding security with identity verification solutions.

Online 41
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Exploring the Liability Shift: A Comprehensive Guide to Fraud Loss Responsibility and Mitigation

Shifting liability for digital fraud losses represents a significant challenge for financial institutions and payment service providers. In response to the global surge in digital fraud, regulators are introducing policies that transfer the cost of fraud from defrauded customers to financial institutions. ThreatMark’s newly released white paper, "The Liability Shift: Understanding Fraud Losses Responsibility and Mitigation," provides an in-depth analysis of this shift, its implications, and stra

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One of M&T's top executives to leave unexpectedly

American Banker

Darren King, who has been overseeing retail and business banking, will depart from the bank in August, M&T said Wednesday. A company spokesperson cited personal reasons.

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MuchBetter launches contactless payment ring in Italy

The Paypers

MuchBetter , a provider of wearable payments technology, has unveiled a new initiative with the launch of a free contactless ceramic payments ring in Italy.

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Banks pass Fed stress test, but see bigger losses than last year

American Banker

The Federal Reserve attributes the uptick in simulated losses in this year's stress test examination to heightened risks on bank balance sheets and higher expense levels. Credit cards and corporate lending were top areas of concern for the central bank.

Lending 34
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ACI Worldwide joins forces with RS2

The Paypers

Real-time payments software ACI Worldwide has entered a collaboration with RS2 to provide a solution that fits the needs of acquirers and issues in Brazil.

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Thinking About How To Lessen Your Burden During Month-End Close? Skystem Can Help!

Most people dread the nearing of the month-end close and reconciliation process, and who can blame them? It's typically a tedious, long, stressful process; but it doesn't have to be. Implementing automation into your month-end process can significantly reduce this headache by automating up to 40% of your reconciliation and saving nearly 30% of your time spent.

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CFPB sets record for fair lending enforcement actions and DOJ referrals

American Banker

Last year, the CFPB referred 18 matters to the Department of Justice and initiated 28 fair lending examinations or targeted reviews, the highest number of such actions by the agency ever.

Lending 36
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Yoti ID, Post Office EasyID, and Lloyds Bank Smart ID accredited by PASS

The Paypers

The three Digital ID Connect apps Yoti ID, Post Office EasyID, and Lloyds Bank Smart ID have been accredited by the UK's Proof of Age Standards Scheme.

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LockBit stole a bank's data, but it wasn't the Fed's

American Banker

Evolve Bank & Trust acknowledged the ransomware group published customer data from the bank, but the number of affected people remains unclear.

Data 28
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2C2P, MineSec to launch a card & QR payment app on Android in Singapore

The Paypers

Global payments platform 2C2P has partnered with SoftPOS solution provider MineSec to launch a card & QR payment app on Android in Singapore.

Cards 41
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New York Lien Law Essentials: 5 Key Facts for Commercial Lenders

Dive into the complexities of New York lien laws with our comprehensive eBook, 'New York Lien Law Essentials: 5 Key Facts for Commercial Lenders.' In this detailed guide, we explore the critical formalities necessary for lenders navigating ground-up construction and fix-and-flip projects in the New York market. From documentation requirements to the implications of non-compliance, learn how to safeguard your lending position and prioritize legal adherence.

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How the Most Successful CMOs Foster Relationships Across the C-Suite

The Financial Brand

This article How the Most Successful CMOs Foster Relationships Across the C-Suite appeared first on The Financial Brand. Savvy marketers understand the importance of breaking down silos and encouraging cross-team collaboration. This article How the Most Successful CMOs Foster Relationships Across the C-Suite appeared first on The Financial Brand.

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Charlie unveils SpeedBump, an anti-financial fraud initiative

The Paypers

Charlie , a fintech company focused on enhancing financial security for older Americans, has unveiled SpeedBump, a new initiative aimed at combating rampant financial fraud targeting this demographic.

Fraud 36
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How BMO’s Head of Digital Swiftly Navigated an Acquisition and Rebranding

The Financial Brand

This article How BMO’s Head of Digital Swiftly Navigated an Acquisition and Rebranding appeared first on The Financial Brand. BMO's journey toward digital transformation offers valuable lessons for banks navigating the rapidly evolving financial landscape. This article How BMO’s Head of Digital Swiftly Navigated an Acquisition and Rebranding appeared first on The Financial Brand.

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Payset to deploy Vault Payments

The Paypers

Cloud-native banking technology company Thought Machine has announced that Payset will deploy Vault Payments in order to improve its services.

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The State of Automation in Financial Services 2024 Report

In this report, you’ll find a comprehensive analysis of survey responses from executives at banks, credit unions, and insurance companies concerning their organization’s current and future use of automation. The report’s key insights include: Which types of automation are saving organizations the most time and money How to overcome the biggest barriers to automation implementation and adoption Why automation investments will continue to grow over the next few years How much you could save in 202