Payments Dive

OCTOBER 18, 2023

While investments in payments startups dropped during the third quarter, U.S. companies attracted the most funding, according to a CB Insights report.

Payments 243

Payments Report Company 243

South State Correspondent

OCTOBER 18, 2023

Grid-based pricing is typically used to set the applicable margin of a loan based on specific performance measures, such as credit rating or cash flow coverage. However, grid-based pricing can also be used to increase deposit balances. The average borrower does not calculate their cost of borrowing and return on deposits on the economic value as determined by fund transfer pricing (FTP).

Community Bank 195

Community Bank Community Industry Operations 195

Payments Dive

OCTOBER 18, 2023

The company is being penalized for unauthorized withdrawals, and attempted withdrawals, from mortgage customer accounts in April 2021.

Payments 221

Payments Company 221

BankInovation

OCTOBER 18, 2023

U.S. Bank invested in digital capabilities within its payments business during the third quarter of 2023 as it shifted toward a more tech-led revenue approach. Tech spend at the $668 billion bank was up 20% year over year to $511 million, according to the bank’s Q3 earnings presentation.

US 92

US Payments 92

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Groups

Payments Dive

OCTOBER 18, 2023

The new council is tasked with providing “strategic guidance” to the San Francisco-based card giant’s Washington think tank, but none of the initial members are based in the U.S.

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San Francisco Policies Washington Cards 221

Payments Dive

OCTOBER 18, 2023

After a retrofit at a high-volume store failed, the North Carolina-based convenience store company went back to the drawing board and improved the design.

North Carolina 195

North Carolina Company 195

The Paypers

OCTOBER 18, 2023

UK-based X-Press Legal has added Open Banking to its online banking system, X-Press Pay, via Ordo , enabling consumers to directly pay for disbursements.

System 85

System Online 85

American Banker

OCTOBER 18, 2023

The bank suffered its third breach in three years, this time by virtue of a vulnerability in Progress Software's file-transfer system. But Flagstar is only one of many such victims.

Software 83

Software System Cyber Security Data 83

CFPB Monitor

OCTOBER 18, 2023

At its open Board meeting scheduled for October 24, 2023, the Federal Reserve Board is expected to approve its final rule amending its current regulation implementing the Community Reinvestment Act. In May 2022, the Federal Reserve Board, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation issued a joint notice of proposed rulemaking setting forth proposed amendments to their regulations implementing the CRA. .

Meeting 78

Meeting Community Regulation 78

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Analysis

American Banker

OCTOBER 18, 2023

Credit unions are seeing tepid growth at best, due in part to banks using online offerings to win over consumers.

Online 82

Online 82

BankInovation

OCTOBER 18, 2023

Ally Bank will continue to invest in technology to gain a competitive advantage over its peers.

Technology 74

Technology Retail 74

American Banker

OCTOBER 18, 2023

The Tennessee bank said a $72 million charge-off tied to a borrower in bankruptcy shaved 10 cents per share off its earnings. Management downplayed the issue, calling it "idiosyncratic," and emphasized that it was growing its loan portfolio.

Tennessee 81

Tennessee Management Lending 81

BankInovation

OCTOBER 18, 2023

Citizens Bank reiterated its commitment to migrating all operations to the cloud by 2025 to create a modern banking platform during today’s third-quarter earnings presentation.

Operations 74

Operations Data Technology Retail 74

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Lending

American Banker

OCTOBER 18, 2023

The Federal Reserve, which currently faces a Supreme Court case related to the fees, will vote on a proposal next week that will likely open up a rulemaking process to lower debit card interchange fees.

Cards 78

Cards Policies Compliance Regulation 78

BankInovation

OCTOBER 18, 2023

Bank of Nova Scotia will dismiss 3% of its employees and take a writedown on its investment in a Chinese bank in a broad restructuring that underscores new Chief Executive Officer Scott Thomson’s focus on cutting costs. The reductions amount to about 2,700 jobs, based on the Canadian bank’s staff count as of July 31.

Retail 74

Retail 74

The Paypers

OCTOBER 18, 2023

Poland-based financial technology solutions provider Verestro has announced the integration of the Quicko Wallet money transfer service within the Slack application.

Financial Technology 73

Financial Technology Technology 73

American Banker

OCTOBER 18, 2023

Texas Attorney General Ken Paxton's office said it's reviewing whether 10 financial companies, including Bank of America and JPMorgan Chase, violate a state law that punishes firms for restricting their work with the oil-and-gas industry because of climate-change concerns.

Texas 59

Texas Policies America Industry 59

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Capital

The Paypers

OCTOBER 18, 2023

US-based J.P. Morgan has announced its partnership with Trovata in order to develop a new suite of solutions for treasury management improvement.

US 45

US Management 45

American Banker

OCTOBER 18, 2023

Worried about the economy and new Fed rules on capital, the bank wants to hang onto its money just in case, CFO Daryl Bible told investors as he outlined second-quarter earnings.

Capital 53

Capital Regulation Regional 53

The Paypers

OCTOBER 18, 2023

Global card issuing platform Marqeta has announced its partnership with Motive in order to launch the Motive Card and deliver clients up to 10 percent savings.

Cards 45

Cards 45

American Banker

OCTOBER 18, 2023

The Rhode Island-based bank is bolstering its cash position in the face of worries about office loans, stricter capital requirements for regional lenders and the possibility of economic shock from overseas conflicts.

Rhode Island 48

Rhode Island Regulation Regional Capital 48

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Operations

The Paypers

OCTOBER 18, 2023

Philippine-based digital bank Tonik has partnered with life insurance company Sun Life Grepa Financial to roll out insurance for the former’s customers.

Digital Banking 45

Digital Banking Company 45

American Banker

OCTOBER 18, 2023

Because instant settlement is irreversible, companies like Orum expect to see demand for systems that can vet recipients within seconds.

Fraud 48

Fraud Fintech System Payments 48

The Paypers

OCTOBER 18, 2023

Global modern card issuing platform Marqeta has partnered with European BNPL provider Scalapay to issue cards both online and in-store.

Cards 45

Cards Online 45

American Banker

OCTOBER 18, 2023

NCR has completed the spinoff of its ATM business, Revolut doubles its number of fraud-fighters in two years, China builds a zone for digital yuan users, and more.

Company 48

Company ATM Security Fraud 48

Advertiser: ZoomInfo

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