Tue.Jan 23, 2024

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What does Gen Z want from banks?

ATM Marketplace

How should your bank appeal to Gen Z? Should the branch play a role? What about digital signage?

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Future-Proofing Financial Services: Rule 3110 Updates Empower Brokers

Perficient

This post has been updated to reflect FINRA Regulatory Notice 24-02, issued January 23, 2024. The COVID-19 pandemic prompted several unprecedented shifts in society, notably impacting the workplace and necessitating the adoption of innovative technologies that facilitate collaboration and efficiency in a work-from-home (WFH) environment. For brokers, in the financial services sector, remote work became especially difficult due to the requirement for firms to register and supervise all home offic

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Synchrony to buy Ally’s POS lending unit

Payments Dive

“This wasn’t a scaled business for Ally, but on our side, this is absolutely a scaled business,” Synchrony CEO Brian Doubles said Tuesday. “This is exactly the type of acquisition that we look for.

Lending 221
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Banking and Non-Banking Industries Voice Concern Over Basel III Endgame Proposal’s Potentially Significant Negative Impact on Consumers

CFPB Monitor

On September 18, 2023, the Federal Reserve, Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency jointly published and sought comments on a proposal to implement new, standardized capital requirements that would, among other things, increase capital requirements for banks with $100 billion or more in total assets.

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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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Fed extends comment period on debit card fee proposal

Payments Dive

The Federal Reserve extended the time period during which it will accept public comments on its proposal to reduce the cap on debit card fees.

Cards 243

More Trending

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Jack Henry vaults COO to CEO seat

Payments Dive

Greg Adelson, the company’s current president and chief operating officer, will take the reins from outgoing CEO David Foss in July.

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Brex lays off nearly 20% of workforce

BankInovation

Expense management company and neobank Brex announced today it will lay off 282 employees, roughly 20% of its workforce. The move will help Brex become “a high-velocity company” that is “leaner, faster and closer to customers,” Brex founder and co-chief executive Pedro Franceschi said in a release.

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Payments startups face pivotal year

Payments Dive

Many venture-dependent startups that put off fundraising will be forced to do so this year or find an exit plan.

Payments 243
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Synchrony to expand payments offerings, operations in 2024

BankInovation

Synchrony Financial is expanding its distribution network through acquisition and additional product offerings in 2024. The Stamford, Conn.-based company “continued to diversify our programs in 2023, broadening the utility of our offerings and extending our reach,” President and Chief Executive Brian Doubles said today during Synchrony’s fourth-quarter 2023 earnings call.

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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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Pervasive Ransomware Visibility on Existing Infrastructure: How Cisco Secure Network Analytics Helps

Cisco

Cyber security attacks in 2023 reached a new level of sophistication as significant supply chain attacks and evolved malware tools have accelerated the risk facing financial institutions.

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Fintech Klarna CEO signals IPO in U.S. may happen ‘quite soon’

BankInovation

Klarna Bank AB, the Swedish fintech that was once Europe’s most valuable startup, may soon launch a stock market listing in the US, according to Chief Executive Officer Sebastian Siemiatkowski.

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Webster Financial predicts loan growth of 5%-7% in 2024

American Banker

Several regional banks have projected minimal growth or even a decline in lending this year. But Connecticut-based Webster is bullish based on its pipeline of nonoffice commercial real estate, public finance and other credits, CEO John Ciulla says.

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Revolut launches Mobile Wallets to support international transfers

The Paypers

UK-based fintech company Revolut has launched the Mobile Wallets feature to simplify the process of sending money abroad.

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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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Old National on track to close CapStar deal, expand in Nashville

American Banker

The Indiana bank is "on offense by continuing to invest in new client-facing and key support talent and being ready and opportunistic for acquisitions," CEO Jim Ryan says.

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Terraform Labs files for bankruptcy in the US

The Paypers

Singapore-based Terraform Labs , the company behind the TerraUSD stablecoin, has filed for bankruptcy protection in the United States.

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Synchrony says its consumer credit losses are nearing their peak

American Banker

The credit card issuer said it's "cautiously optimistic" about its borrowers' financial health, with charge-offs expected to rise not much further than pre-pandemic levels. The upbeat outlook contrasts with a key competitor's guidance of significantly higher losses.

Cards 83
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AXS partners with Triple-A for digital currency payments

The Paypers

Singapore-based payment solution provider AXS has partnered with Triple-A , a global digital currency payments institution, to allow for bill payments with digital currencies.

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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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Brex cuts jobs as its customers endure economic pressure

American Banker

The digital financial services firm announced layoffs Tuesday, with the goal of keeping the company steady until conditions improve for its business users.

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Satchel partners with Napier

The Paypers

Lithuania-based Electronic Money Institution (EMI) company Satchel has partnered with UK-based financial crime compliance regtech Napier to integrate the latter’s AML platform.

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Large regional banks invest in startup deposit network

American Banker

ModernFi, which helps banks source or offload deposits in reciprocal or one-way arrangements, recently raised a Series A with participation from Huntington Bancshares, First Horizon Corp. and Regions Financial.

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EU to implement cash payment limit

The Paypers

The European Parliament and the Council negotiators have reached a provisional agreement to reduce money laundering and limit cash payments to a maximum of EUR 10,000.

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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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Zions confident in credit, despite commercial real estate risk

American Banker

The Salt Lake City bank said that it doesn't expect to see major losses, even though the amount of problem loans in its portfolio rose at the end of 2023.

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SWIAT enables FIs to issue crypto fund units on the blockchain

The Paypers

Germany-based fintech specialising in blockchain software development SWIAT has enabled financial institutions to issue crypto fund units on the blockchain.

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First Horizon navigates TD deal's demise, but big tech investments loom

American Banker

The Tennessee-based bank was forced to keep operating on its own after a proposed acquisition was called off. Months later, First Horizon has picked up new customers and improved its profitability, but investors remain cautious amid plans for catch-up spending on technology.

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Ozone API raises GBP 8.5 million in Series A round

The Paypers

UK-based Open Banking standards-based software developer Ozone API has raised GBP 8.5 million in a Series A funding round led by Gresham House Ventures.

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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.