Mon.Nov 20, 2023

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Haunted by Fraudsters: Post-Halloween Edition

Jack Henry

Captain Obvious here: we’re well into fall now with Thanksgiving right around the corner! The season that starts with pumpkin spice lattes and apple picking moves (too) quickly through Halloween and finishes with a huge helping of stuffing and apple pie. Some of us never grow out of the fun of celebrating the “spooky season”.

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Stripe, Alaska Airlines to offer in-flight contactless payments

Payments Dive

Payments company Stripe said it’s the first time that an airline will use Apple’s contactless payments feature across an entire fleet.

Alaska 435
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We smashed the windows of a major bank. A jury acquitted us. This is why | Gully Bujak

TheGuardian

I think people everywhere, even on juries, have had enough of our leaders’ failure to tackle the climate crisis In 2021, I was arrested with eight other women for breaking the windows at HSBC’s headquarters in London. On Thursday, after just two hours of deliberation, a jury of our peers found all nine of us not guilty of nearly half a million pounds in criminal damage.

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BNPL regulation could contribute to consolidation: Moody’s analysts

Payments Dive

Adapting to regulation could be a costly endeavor for BNPL companies already facing losses and more expensive funding costs, Moody’s analysts said.

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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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CBA counters CFPB information about CARD Act Report

CFPB Monitor

The Consumer Bankers Association has launched a four-part blog series “Facts Matter” to counter what it calls “misinformation conveyed by the CFPB” in its press release about the CFPB’s October 2023 report (Report) under the Credit Card Accountability Responsibility and Disclosure Act (CARD Act). The CARD Act requires the CFPB to issue a biennial report to Congress on the consumer credit card market.

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More Trending

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Business Banking Systems: Should You Have More Than One?

Jack Henry

Discover why a unified platform suits retail banking, yet diverse businesses need custom-tailored digital tools for seamless financial management.

System 97
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5 takeaways from Michael Barr’s remarks at The Clearing House conference

Payments Dive

The Fed's vice chair for supervision expressed optimism about FedNow’s benefits and said he expects it to co-exist with the privately owned RTP network.

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Fifth Circuit stays further proceedings in CFPB appeal of summary judgment in lawsuit challenging UDAAP exam manual changes pending SCOTUS decision in CFSA v. CFPB

CFPB Monitor

Earlier this month, the CFPB filed a notice with the Texas federal district court that it is appealing to the Fifth Circuit the district court’s order granting summary judgment to a group of trade associations in their lawsuit against the CFPB challenging the changes made to its UDAAP Exam Manual in March 2022. .

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Wise CFO credits customer growth for profit jump

Payments Dive

The fintech’s nearly fourfold jump in profits comes as its chief financial officer is preparing to depart after an eight-year tenure.

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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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Cashless Chronicles: How Credit Cards Simplified Our Lives!

BankBazaar

‘ Life is simple, but we insist on making it complicated ’ , said Confucius. W e won’t change our ways; hence the onus is now on Credit Cards to make our lives simpler. Somebody said, ‘Make my life easy’, and Credit Cards appeared out of nowhere. Though that’s not how they came into existence, we’re certain that Credit Cards do indeed make our lives easy.

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Wells Fargo workers at two US branches of bank launch efforts to unionize

TheGuardian

Employees in Albuquerque, New Mexico, and Bethel, Alaska, make rare move to organize staff in financial industry Workers at two Wells Fargo bank branches are planning to launch unionization efforts on Monday in a rare move to organize staff at a financial services company. Employees in Albuquerque, New Mexico, and Bethel, Alaska, said they would notify the National Labor Relations Board that they plan to hold elections to decide whether to unionize, the Wall Street Journal reported.

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JPMorgan Chase accused of de-banking, defaming a Florida business

American Banker

A medical services company is suing the nation's largest bank, alleging that it refused transactions, closed accounts and erroneously told customers that the company was subject to sanctions by the U.S. Treasury Department. JPMorgan declined to comment on the suit.

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Exploring Bridge Loans and Mortgage Lending Rates Today

Commercial Lending USA

Discover the ins and outs of bridge loans, non-QM mortgage lending, and navigating current lending rates for seamless property transactions!

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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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EU banks post record earnings, UK banks struggle for deposits

BankInovation

Major banks in the European Union and the United Kingdom benefited from high rates during the third quarter, while others competed for consumer deposits. European banks, including Deutsche Bank, ING, Santander Bank and UBS, reported the strongest performance in15 years in the first half of 2023, according to an Oct. 4 Fitch Ratings report.

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AI copilots: How are banks using them, and do you need one?

American Banker

Microsoft, Google, Salesforce, ServiceNow, Blend, Q2 and Intuit are among the software companies that offer copilots. Here's why banks are taking notice.

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5 questions with … ConnectOne Bank’s Siya Vansia

BankInovation

ConnectOne Bank Senior Vice President and Chief Brand and Innovation Officer Siya Vansia is focused on aligning the bank’s digital and business strategies. During the third quarter, the Englewood Cliffs, N.J.-based, $9.7 billion bank invested in its people and technology, Chief Executive Frank Sorrentino said during the bank’s October Q3 earnings call.

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Salt Bank partners with Starling Bank

The Paypers

Salt Bank has announced its partnership with Starling Bank in order to use the latter’s Engine platform for the development of digital banking solutions in Romania.

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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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Citigroup notifies its employees about job cuts

American Banker

The megabank did not say how many positions it plans to cut as part of a reorganization that represents Jane Fraser's biggest move so far as CEO.

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Bitget Wallet launches a Web3 exploration incentive platform

The Paypers

Singapore-based Bitget Wallet has unveiled Task2Get, a Web3 exploration platform aimed at improving user access to the DeFi ecosystem.

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20 banks and thrifts with the largest securities portfolios

American Banker

The top five have more than $2.6 trillion in combined securities as of March 31, 2023.

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ThetaRay partners with Knox Wire

The Paypers

ThetaRay has partnered with Knox Wire in order to implement its AI-based AML transaction monitoring and sanction screening for the latter’s communication system.

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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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'Just the beginning': Two Wells Fargo branches file for union election

American Banker

Unions have historically had little success organizing bank employees, but recent high-profile gains for the labor movement have fueled hopes that will change. The two elections at Wells Fargo will be a test.

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MAS and BNM launch cross-border real-time payment tool

The Paypers

The Monetary Authority of Singapore and Bank Negara Malaysia have partnered to launch a cross-border real-time payment system connectivity between PayNow and DuitNow.

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'Unprecedented': Banks' lobbying blitz against capital rules

American Banker

The financial services industry has run TV ads during football games and organized lobbying visits by small-business owners in its fight against the Basel III endgame plan to raise capital requirements for larger lenders. The tactics are beginning to show signs of working.

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Paysafe integrates Visa Network Tokens

The Paypers

Payments solutions provider Paysafe has announced that it expanded its partnership with Visa to provide network tokenisation services for merchants.

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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.