Fri.Jun 14, 2024

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Here is our Digital Banking Playbook

South State Correspondent

You might need a new digital banking platform. Chances are your bank chose your current digital platform because it was easy. Maybe your core vendor provided it, or perhaps you were sold a platform by a vendor you happened to meet at a conference. Likely, your vendor has little relationship to your strategic needs and future architecture. In this article, we uncover what a modern digital platform looks like, why your bank might need to plan to change over the next three years, and if you are goi

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Landmark Visa, Mastercard settlement in peril

Payments Dive

The judge's likely rejection would scuttle a $29.79 billion deal that was two decades in the making.

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Here is Our Digital Banking Platform Playbook

South State Correspondent

You might need a new digital banking platform. Chances are your bank chose your current digital platform because it was easy. Maybe your core vendor provided it, or perhaps you were sold a platform by a vendor you happened to meet at a conference. Likely, your vendor has little relationship to your strategic needs and future architecture. In this article, we uncover what a modern digital platform looks like, why your bank might need to plan to change over the next three years, and if you are goi

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Brex moves to single-CEO model

Payments Dive

Pedro Franceschi will become sole chief executive, while co-founder Henrique Dubugras will move to board chair as the company aims to go public in 2025.

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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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US bank Wells Fargo fires employees for ‘simulating’ being at their keyboards

TheGuardian

Workers were sacked after review found they were ‘creating impression of active work’, says filing Business live – latest updates The US bank Wells Fargo has fired more than a dozen workers for alleged “simulation of keyboard activity”, in an apparent bid to fool their employer into thinking they were working. The employees were “discharged after review of allegations involving simulation of keyboard activity creating impression of active work”, according to a filing with the Financial Industry

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London Stock Exchange CEO honoured in king’s birthday list

TheGuardian

Julia Hoggett awarded damehood for services to business, while HSBC chair Mark Tucker receives knighthood • Business live – latest updates The head of the London Stock Exchange (LSE) and the chair of HSBC are among the business leaders to be recognised this year in King Charles’s birthday honours list. Julia Hoggett, a former banker who has been the chief executive of the London Stock Exchange since 2021, has been awarded a damehood for her services to business and finance.

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SameDay Auto Finance automates lending

BankInovation

SameDay Auto Finance is automating more of its origination and servicing processes after switching to a new loan servicing system earlier this month. TheIrving, Texas-based subprime lender signed on with auto lending software provider Nortridge on June 1, Armando Hidalgo, director of servicing, told Auto Finance News, a sister publication to Bank Automation News.

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How a Mississippi credit union attracted $8 million in new deposits

American Banker

Statewide Federal Credit Union in Flowood used its partnerships with Bankjoy and Strum Platforms to identify untapped communities in its field of membership and aggressively market its inaugural high-yield savings account.

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BNY Mellon’s Pershing X modernizes API strategy

BankInovation

BNY Mellon’s technology arm Pershing X’s clients are looking to the tech provider for improved wealth management capabilities. Clients want to upgrade their internal wealth management technology but maintaining the users’ brand is a big part of the conversation, Noam Tasch, head of revenue at BNY Pershing X, told Bank Automation News.

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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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Goldman Sachs' fossil fuel financing is bad for its shareholders

American Banker

The company's shareholders are ill-served by its large investments in fossil fuel projects that both damage the environment and present major financial risks.

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Judge likely to reject $30B Visa, Mastercard fee deal

BankInovation

A $30 billion settlement between Visa Inc., Mastercard Inc. and retailers to cap credit-card swipe fees is likely to be rejected by a federal judge in Brooklyn, a setback in the two decade-long litigation.

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Truist suffers data breach, hackers claim it affects 65,000 employees

American Banker

The threat actor Sp1d3r posted an ad for the stolen data on Wednesday. Truist said the October breach is not related to a campaign by the same criminal group.

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3 ways Swift is deploying tech for payments

BankInovation

International payments network Swift is deploying technology to make its payments faster, safer and more efficient.

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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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Visa speeds aid to disaster victims with new government-payments app

American Banker

The card network has developed a digital approach to delivering disbursements for disaster relief and other purposes via mobile devices, without requiring a separately downloaded app.

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TESS Payments receives PSP licence from QCB

The Paypers

White-label payment gateway provider Akurateco has announced that TESS Payments , its Qatari partner, received a PSP licence from the Qatar Central Bank.

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Apple Intelligence: ChatGPT coming to iPhones | Affirm buy now, pay later will be embedded into Apple Pay | Microsoft to delay launch of AI Recall

Bussman Advisory

This week’s must-know stories in the FinTech, AI and Digital Asset space. The latest edition of the FinTech Ecosystem Newsletter is here: Image Credit: shutterstock.com The post Apple Intelligence: ChatGPT coming to iPhones | Affirm buy now, pay later will be embedded into Apple Pay | Microsoft to delay launch of AI Recall appeared first on Bussmann Advisory AG.

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Garanti BBVA introduces crypto wallet

The Paypers

Garanti BBVA Digital Assets , a subsidiary of Garanti BBVA Financial Technologies , has introduced a crypto wallet service on its mobile platform in Turkey.

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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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Program aims to bridge mission-based banks' deposit gap

American Banker

IntraFi has joined two banking industry trade groups spearheading an effort to source large institutional deposits at small, cash-starved CDFI and MDI banks.

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Bank of Ghana completes cross-border trade using digital credentials

The Paypers

The Bank of Ghana has announced the successful completion of cross-border trade using digital credentials, in collaboration with the Monetary Authority of Singapore.

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Is the Fed's tough love approach to housing too tough?

American Banker

Federal Reserve Chair Jerome Powell says crushing inflation is the most important thing the Fed can do to reduce costs in the housing market. Some economists and policy specialists say higher rates are not the only tool at its disposal.

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BVNK adds Swift payments for stablecoin and fiat transfers

The Paypers

Stablecoin payments provider BVNK has announced the integration of Swift payments on its platform, facilitating transactions between USD, EUR, and stablecoins.

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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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BNY's new branding, Virginia credit unions to merge

American Banker

BNY, the country's oldest bank, drops "Mellon" from its branding; Apple FCU announces plans to merge with NextMark Credit Union; Moelis probes incident after a video circulated online shows one of its senior bankers appearing to punch a woman; and more in this week's banking news roundup.

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Oscilar launches AI-powered ACH fraud detection

The Paypers

US-based Oscilar , a provider of AI-driven risk management solutions, has released AI-powered ACH fraud detection amid a rapid growth in ACH transactions.

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Judge likely to reject $30 billion Visa, Mastercard fee deal

American Banker

A $30 billion settlement between Visa Inc., Mastercard Inc. and retailers to cap credit-card swipe fees is likely to be rejected by a federal judge in Brooklyn, a setback in the two decade-long litigation.

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21X selects eflow for the compliance of its DLT exchange

The Paypers

Germany-based 21X has chosen eflow ’s holistic technology to drive its compliance strategy as it creates a European DLT exchange infrastructure for crypto and security tokens.

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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.