Fri.Aug 16, 2024

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Banking AI: 3 tools to watch

ATM Marketplace

Here are three banking AI tools to watch in the coming years.

Tools 119
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Credit cards users struggle with inflation

Payments Dive

JD Power’s annual credit card survey found that more than half of U.S. credit card users don’t pay their balances in full every month, and less than half are considered financially healthy.

Cards 476
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New data on credit card losses add to evidence of 'soft landing'

American Banker

The once-worsening trend of consumers struggling to pay their credit card bills keeps stabilizing, new data from card issuers showed this week. The improved picture comes amid other signs that consumers aren't slowing their spending.

Cards 88
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FedNow to add more fraud tools, Fed official says

Payments Dive

The Federal Reserve is still seeking to allay financial institutions' concerns that faster payments allowed by the new instant payments system could lead to faster fraud.

Fraud 243
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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.

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Revolut says secondary share sale valued firm at $45B

BankInovation

Revolut Ltd. said a secondary share sale that allowed the company to give employees liquidity for their stakes valued the company at $45 billion. The round was led by investors Coatue, D1 Capital Partners and Tiger Global, according to a statement. Morgan Stanley served as sole placement agent on the deal.

Capital 74

More Trending

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Larger FIs may need more time to implement open banking

BankInovation

Open banking regulation is quickly approaching but financial institutions are asking the Consumer Financial Protection Bureau to extend the timeline for implementation. FIs are expected to have an open banking framework in place within six months, according to the CFPB’s proposal.

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Klarna enters arena with big banks as it adds financial services

American Banker

The Swedish institution is adding savings accounts to its signature buy now/pay later service as it plots an IPO. Analysts say it will be a struggle to go against U.S. institutions.

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Credibanco and Sensedia to introduce new solution

The Paypers

Credibanco and Sensedia have introduced a new solution that centralises financial information from various industry participants, enabling a secure and efficient exchange of data.

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Fintechs navigate a choice: BaaS middleware or go direct?

American Banker

Nonbanks that rely on sponsor banks to underpin their financial services may assume that "going direct" is safer after the Synapse bankruptcy. But banking-as-a-service middleware has its merits.

Fintech 86
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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

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Armed Forces Bank brings 24/7 banking to military customers

BankInovation

Armed Forces Bank is investing in its digital banking channels to ensure that its military-focused client base has 24/7, global access to banking capabilities.

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CrowdStrike computer outage highlights need for Payment Choice Act

American Banker

The ability to make cash transactions is vital to some Americans, and when technology fails us, it can be a lifeline for all Americans. We need to preserve it.

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Fintech firm Revolut valued at $45bn in employee share sale

TheGuardian

Staff in line for $500m windfall, with company now worth more than market valuations of big high street banks Revolut has clinched a $45bn (£35bn) valuation through a share sale that is expected to net staff a $500m windfall, cementing its position as the most valuable private tech company in Europe. It is a boost for the London-headquartered firm, which was last valued at $33bn in 2021.

Fintech 58
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Beyond CrowdStrike: What banks can learn from other tech disasters

American Banker

While financial institutions continue to recover from the widespread tech disruption, executives are asking what effective fix-it plans might look like during future events.

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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.

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Payquicker partners Thunes for global e-wallet expansion

The Paypers

PayQuicker has announced a collaboration with Thunes to extend its e-wallet payout capabilities on a global scale.

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Civil rights groups allege judge-shopping in CRA lawsuit

American Banker

An amicus brief filed in a lawsuit challenging newly finalized implementing regulations for the Community Reinvestment Act argues that the court was chosen because plaintiffs believe the court is more likely to rule in their favor.

Groups 36
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NOW Money partners with CBI and Network International

The Paypers

NOW Money , a fintech specialising in banking and payroll solutions for the underbanked migrant population in the Middle East, has partnered with CBI and Network International.

Fintech 36
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Massachusetts credit union seeks merger with neighboring bank

American Banker

The planned Bay State deal comes two months after the Minneapolis-based Thrivent said it plans to merge a credit union it controls into a new industrial bank.

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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.

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Klarna introduce balance and cashback new features

The Paypers

Global provider of Buy Now, Pay Later (BNPL) solution, Klarna , has recently announced the launch of two new products tapping into retail banks’ core business – everyday spending and saving.

Retail 36
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Regions taps corporate banking head, Detroit CU's first-ever woman CEO

American Banker

Regions Bank hires next corporate banking group leader from within; Detroit CU names its first-ever woman CEO; United Community raises its quarterly dividend; and more in this week's banking news roundup.

Detroit 28
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Serbia amends PSA to introduce Open Banking services

The Paypers

The Serbian Parliament has enacted amendments to the Payment Services Act (PSA), aligning it with the EU's PSD2 directive and introducing Open Banking services to the Serbian market.

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Deploy AI Without Triggering Employee Alienation and Burnout

The Financial Brand

This article Deploy AI Without Triggering Employee Alienation and Burnout appeared first on The Financial Brand. Corporate leaders believe AI tools will drive efficiency, but employees say the reality is exploding workloads and widespread exhaustion. This article Deploy AI Without Triggering Employee Alienation and Burnout appeared first on The Financial Brand.

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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.

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Irish Bank PTSB, Worldpay extend their partnership

The Paypers

Irish Bank PTSB has announced that it extended its strategic agreement with Worldpay , a payment technology and solutions company, to offer merchant services to its commercial customers.

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This is how much data breaches cost lenders this year

American Banker

Loandepot and Mr. Cooper said they've spent tens of millions of dollars this year following recent, major hacks.

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Syfe completes USD 27 million Series C funding round

The Paypers

Singapore-based investment platform Syfe has completed a USD 27 million Series C funding round to fuel its expansion efforts.

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The 14 Biggest Conferences for Lending, Mortgage & LendTech

Fintech Labs Insights

Before becoming an indie online banking/fintech analyst in the mid-1990s, I tried to do the same in the consumer loan/mortgage industry. My favorite real job had been as a loan/mortgage product manager at Rainier Bank (now BofA). I ended up pivoting to the fledgling online banking world, and I’m super glad I did. But deep down, I’m still a loan nerd, and would love to attend any and all of the following conferences.

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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.