PayPal cost-cutting likely to persist
Payments Dive
FEBRUARY 8, 2024
The digital payments pioneer’s expense reductions may take years to benefit the company’s bottom line as management resets the business strategy.
Payments Dive
FEBRUARY 8, 2024
The digital payments pioneer’s expense reductions may take years to benefit the company’s bottom line as management resets the business strategy.
American Banker
FEBRUARY 8, 2024
Federal prosecutors allege that Shan Hanes, the former CEO of the now defunct Heartland Tri-State Bank, illegally took money from customers to fund cryptocurrency investments. He could face up to 30 years in prison if convicted.
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Payments Dive
FEBRUARY 8, 2024
The agency’s open banking proposal is a step in the right direction, but details of the policy will shape how the market develops, a regulatory adviser writes in this op-ed.
CFPB Monitor
FEBRUARY 8, 2024
On February 6, 2024, National Credit Union Administration (NCUA) Chairman Todd M. Harper spoke at a Brookings Institution event to outline his regulatory agenda and supervisory priorities for 2024. His prepared remarks addressed the 90 th Anniversary of the Federal Credit Union Act, credit union performance in third quarter of 2023, risks posed by third party service providers, liquidity management, and consumer financial protection.
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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.
Payments Dive
FEBRUARY 8, 2024
Digital payments provider Aeropay has lined up bank partners in an effort to facilitate faster access to winnings.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
American Banker
FEBRUARY 8, 2024
Jeremy Kress, a law professor at the University of Michigan, filed a petition for rulemaking to two bank regulators, asking them to adopt an unaffiliated director standard for larger banks to address conflicts of interest between banks and their holding companies.
CFPB Monitor
FEBRUARY 8, 2024
With federal student loans approaching $1.7 trillion, private student loans approaching $129 billion, strident consumer group advocacy, and national elections on the horizon, student loan origination and servicing continues to be a focal point for federal and state regulators. In this episode, which repurposes a webinar, we first discuss recent developments at the Department of Education involving loan forgiveness, the framework for servicer accountability, preemption guidance, and new repaymen
William Mills
FEBRUARY 8, 2024
In the ever-evolving landscape of financial technology (Fintech), where innovation and competition are the norm, the ability to generate high-quality leads is crucial. For Fintech companies looking to serve financial institutions, effective lead generation is not just a strategy, it's the lifeline for sustainable growth. In this two-part series, we'll explore the intricacies of lead generation tailored to the unique challenges and opportunities within the Fintech sector.
American Banker
FEBRUARY 8, 2024
It's early days in the Connecticut bank's testing of Cascading AI, but one clear benefit has emerged: The software can handle the many inquiries that come in on Friday nights, after loan officers have gone home.
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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.
TheGuardian
FEBRUARY 8, 2024
Legal documents said to suggest former bank CEO and child sex offender used third person to communicate The former chief executive of Barclays Jes Staley allegedly stayed in contact with Jeffrey Epstein long after joining the UK bank, according to legal documents that reportedly contradict claims the cut ties with the convicted child sex offender and disgraced financier in 2015.
American Banker
FEBRUARY 8, 2024
The consumer lender CURO Group said that its agreement with bondholders gives it a 30-day grace period, and that negotiations on a broader restructuring are continuing. The company has lost money in recent years as it shifts away from traditional payday lending to larger installment loans.
BankInovation
FEBRUARY 8, 2024
Industrywide, financial institutions are seeing an uptick in synthetic identities, scam activity and check fraud even as digital channel adoption grows. In fact, check fraud is expected to reach $24 billion in 2024, according to a Jan. 3 newsletter from Frank McKenna, chief strategist for AI-driven fraud detection platform Point Predictive.
The Paypers
FEBRUARY 8, 2024
AI-focused technology company Pagaya has closed a USD 280 million credit facility with BlackRock US Private Capital.
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.
BankInovation
FEBRUARY 8, 2024
PayPal will invest in a new app to launch in 2024 alongside a new strategy to drive engagement with better consumer experiences like AI-driven shopping. “Redesigning our app and creating improved, frictionless onboarding paths are tangible ways that we plan to drive higher penetration,” Chief Executive Alex Chriss said during PayPal’s fourth-quarter earnings call.
The Paypers
FEBRUARY 8, 2024
Web3 services platform Chainlink has announced it now supports a PYUSD (PayPal’s USD-backed stablecoin issued by Paxos) Price Feed on the Ethereum mainnet.
American Banker
FEBRUARY 8, 2024
Treasury Secretary Janet Yellen didn't directly address the turmoil at New York Community Bank, and said that while some smaller institutions could be hit by a changing commercial real estate market, she doesn't anticipate these mortgages will become a systemic risk.
The Paypers
FEBRUARY 8, 2024
Embedded financial solutions provider Cross River has partnered with digital payments provider Aeropay to expand the latter’s current offerings.
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Now is the time for lenders to prioritize their digital transformation initiatives in preparation for the lending rebound. Rising competition and ever-increasing customer demands for speed and efficiency are forcing financial institutions to embrace digital transformation. This shift can feel overwhelming—where do you begin? This infographic illustrates automation demands and shows you how loan document automation serves as an essential step to increase profits and provide the best lending exper
American Banker
FEBRUARY 8, 2024
Through a partnership with technology firm ServiceNow, the card network is offering ways to reduce banks' cost and complexity of resolving disputed transactions.
The Paypers
FEBRUARY 8, 2024
IDEMIA Secure Transactions has partnered with the Arab National Bank to launch a card developed with Braille printing technology in the Kingdom of Saudi Arabia.
American Banker
FEBRUARY 8, 2024
The original lawsuit was one of several filed in 2014 in a coordinated effort among federal and state regulators aimed at fraudsters trying to cheat distressed mortgage borrowers.
The Paypers
FEBRUARY 8, 2024
The European Parliament has adopted a new set of rules to ensure that transferred funds arrive immediately in bank accounts across the EU.
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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
The Emmerich Group
FEBRUARY 8, 2024
I believe that most of your salespeople have only begun to tap into their true potential. They just don’t have the confidence to go after large deals that are happy with their current bank and ask for premium pricing. In this episode, I’m going to show you how the right sales system can help your people get excited about and effective at pulling in the very best customers…without PRICE even being brought up.
The Paypers
FEBRUARY 8, 2024
US-based digital asset exchange Kraken has successfully secured a VASP registration from the Dutch Central Bank , aimed at its European development strategy.
American Banker
FEBRUARY 8, 2024
The Providence, Rhode Island, company has recruited a head of wealth management advisors and a head of private wealth managers as part of a new strategy to reel in high-net worth clients.
The Paypers
FEBRUARY 8, 2024
Lithuania-based identity verification company iDenfy has partnered with RaiseFX to optimise security and the customer experience in online CFD trading.
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Commercial lending is on the verge of a resurgence, but traditional processes are an obstacle. Explore the top 3 reasons for resistance to digital transformation and how overcoming them can pave the way for growth and efficiency. Discover why embracing automation and digital solutions is crucial for success in today's competitive landscape. Discover how GoDocs helps commercial lenders in the digital era with seamless integration and a borrower-focused approach.
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