Tue.Jul 02, 2024

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New York BNPL bill is dead, for now

Payments Dive

Hopes for passing a 2024 buy now, pay later bill in New York state to regulate the nascent industry expired with the end of the legislative session last month. But next year could be a different story.

New York 195
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Perficient Recognized as a Major Player in IDC MarketScape for Cloud Professional Services

Perficient

Navigating the complexities of cloud technology requires an exceptional partner. We are thrilled to announce that Perficient has been named a Major Player in the IDC MarketScape: Worldwide Cloud Professional Services 2024 Vendor Assessment (Doc #US51406224, June 2024). What Does This Inclusion Mean for Perficient? “We’re honored to be recognized as a Major Player in this IDC MarketScape Report, a distinction we believe highlights our holistic approach to cloud strategy and our implementation exp

Strategy 251
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Payments industry to use AI to detect fraud, improve efficiency

Payments Dive

Research from the investment bank Jefferies suggests generative artificial intelligence could be used in the payments industry to improve fraud detection and make transactions happen faster.

Fraud 385
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UniCredit Bank’s Schulze to speak at Bank Automation Summit Europe 2024

BankInovation

Robert Schulze, head of pricing and risk model infrastructure at UniCredit Bank, will speak at Bank Automation Summit Europe 2024 about AI in financial services. The summit takes place Oct. 7-8 at Hilton Frankfurt in Frankfurt, Germany, bringing together industry experts to discuss banking automation, AI, regulation, payments and more.

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How to Avoid Getting Ghosted: 3 Secrets to Staying Relevant with Gen Z

Speaker: Brian Muse-McKenney, Chief Revenue Officer & Matt Simester, Cards and Payments Expert

In today’s world of social media, dating apps, and remote work, businesses risk becoming irrelevant or getting "ghosted" if they fail to meet the evolving needs of Gen Z consumers. In this new webinar, Brian Muse-McKenney of Episode Six and Matt Simester of Payments Consultancy Limited will reveal key considerations banks should factor into their efforts to develop target products for the next generation of bank customers.

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Sajid Javid to become partner at investment firm Centricus

TheGuardian

Former chancellor cleared for role by body examining propriety of ministers taking jobs in private sector Sajid Javid, the former Conservative chancellor of the exchequer, is to become a partner at a London investment firm founded by a trio of his former colleagues at Deutsche Bank. The former banker, who held seven ministerial positions in a 15-year political career, confirmed on Tuesday that he was joining Centricus, a private equity and asset manager based in Mayfair.

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'Tech apprehension,' other hurdles that keep small banks from innovating

American Banker

During a panel discussion at American Banker's Digital Banking conference last week, experts from American Commerce Bank discussed the launch of its virtual banking platform and theorized why other executives might be slow adopters.

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Podcast: Mastercard taps into AI to structure open banking data

BankInovation

Mastercard is using AI to help structure the data it collects for its more than 3,000 bank clients in the United States and Europe.

Data 80
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Lighthouse vs Tugboat Appraisers

Realwired Appraisal Management Blog

A lighthouse appraiser adopts an attitude of optimism, curiosity and coachability that enhances individual performance and the collective standards of the valuation profession. A tugboat appraiser is one of complacency that stifles innovation, hinders progress and erodes competitive edge. This leads to stagnation and decline within our industry.

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Scalia: 'Regulators are wise to be more careful' after Chevron ruling

American Banker

Euene Scalia, former Secretary of Labor and the banking lobby's lawyer on retainer for a potential challenge to Washington's capital reform effort, discusses the state of administrative law after the overturning of a key legal precedent.

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Navigating the Automation Landscape: Selecting Tools That Fit Your Business

Speaker: Gary Dmitriev

Our upcoming webinar aims to demystify the process of selecting and implementing automation tools for financial institutes. This session will provide your roadmap for vetting potential solutions, focusing on due diligence, vendor assessments, and aligning technology with strategic goals. We’ll also address the critical issue of innovation fatigue, offering tips on maintaining enthusiasm and momentum for new initiatives.

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Inside Look: U.S. Bank’s SMB fintech strategy

BankInovation

U.S. Bank is looking to fintechs to provide back-office management for its small-business clients.

Fintech 80
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Margin pressure, potential loans losses on radar for small bank earnings

American Banker

With the Federal Reserve holding interest rates at elevated levels through the first half of the year, analysts are sharpening their collective focus on possible fallout from high deposit and borrowing costs.

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Hard Money Construction Loans - Fast Funding for Contractors

Commercial Lending USA

Get bids and avoid delays. Builders get hard money construction loans. Quicker finances and flexible conditions maximize your project. Commercial Lending USA.

Lending 52
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'Anti-woke' bank hit with FDIC consent order as losses mount

American Banker

Old Glory Bank, which has ties to conservative political figures and touts itself as "pro-America," needs to raise more capital to meet its regulator's requirements. "Failure is not an option. We're going to figure this out," the bank's president and CEO said.

FDIC 56
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Case Study: First Mid Bank Fast-Tracks New Market Entry in Commercial Lending

Discover First Mid Bank's Expansion Success with Our Case Study! Discover how First Mid Bank & Trust fast-tracked market expansion through advanced automation and compliance solutions. This case study reveals their journey from facing challenges in Texas' complex legal landscape to achieving rapid market entry with GoDocs' innovative commercial closing platform.

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Revolut reports record profits as it hints at plans for IPO

TheGuardian

London-based fintech company has been waiting more than three years for its UK licence to be approved Business live – latest updates Revolut has reported record annual profits and further hinted at plans for a stock market flotation, despite still struggling to secure a UK banking licence. The London-based fintech company, which has been waiting more than three years for its UK licence to be approved, swung to a £438m profit in 2023, having made a £25m loss a year earlier.

Report 48
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The FDIC's resolution plan for failed megabanks is an empty promise

American Banker

The Federal Deposit Insurance Corp.'s framework for resolving a large bank failure is inadequate and leaves the door open to future taxpayer-subsidized bailouts.

FDIC 56
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All Types Of Trucks & Their Classifications

Commercial Lending USA

Looking for commercial loans in the USA? Commercial Lending USA specializes in arranging commercial mortgages for businesses and commercial purposes nationwide. Get the funding you need today!

Lending 40
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Climate-friendly bank gets dinged by FDIC over its funding model

American Banker

Maryland-based Forbright Bank, which is led by a onetime Democratic presidential candidate, relied extensively on brokered deposits as it grew after a 2021 rebranding. The bank says it has made changes in response to regulators' concerns.

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Exploring the Liability Shift: A Comprehensive Guide to Fraud Loss Responsibility and Mitigation

Shifting liability for digital fraud losses represents a significant challenge for financial institutions and payment service providers. In response to the global surge in digital fraud, regulators are introducing policies that transfer the cost of fraud from defrauded customers to financial institutions. ThreatMark’s newly released white paper, "The Liability Shift: Understanding Fraud Losses Responsibility and Mitigation," provides an in-depth analysis of this shift, its implications, and stra

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FICO analysis of UK credit card trends in 2023-24

The Paypers

Analytics software company FICO has highlighted the impact of rising fuel costs, inflation, and wage pressures on credit card usage and debt management in 2023-2024.

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Banking law is about to get weird

American Banker

The excision of the Chevron doctrine from administrative law is the crest of a wave of litigative enthusiasm that has been building in the banking industry for years. But defanging the administrative state could also establish binding legal precedents that can cut both ways.

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Klarna partners with Adobe Commerce

The Paypers

AI-powered global payments network and shopping assistant Klarna has entered a collaboration with Adobe Commerce to allow merchants to implement its BNPL services.

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Peer-to-peer wallet apps remain sticky despite fraud and scams

American Banker

Consumers tend to use the P2P apps their friends and family members prefer, and most are unlikely to switch platforms in the next year, according to a new study from J.D. Power.

Fraud 36
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Thinking About How To Lessen Your Burden During Month-End Close? Skystem Can Help!

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.

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Currensea raises over GBP 1.7 million on Seedrs

The Paypers

UK-based direct debit travel card Currensea has announced that it secured over GBP 1.7 million after launching its services on the Seedrs platform.

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Corporate lenders are locking down protection against tough times from high rates

American Banker

The push for assurances on collateral is coming despite fierce competition for deals, and indicates borrowers face limits on their ability to change the standing of existing creditors to get the financing they need.

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Key Players In the EU Payments Landscape – 2024 Edition

The Paypers

The 2024 “Key Players in the EU Payments Landscape” report by The Payments Association EU ( PA EU ), written in collaboration with Deloitte and The Paypers offers an exclusive strategic review across EU’s individual payments markets.

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Supreme Court rulings will change the regulatory landscape — to a degree

American Banker

A pair of rulings upended the deference afforded to agency interpretations of the law and extended the statute of limitations to bring regulatory challenges. But experts say the impact on banking regulation will likely be limited.

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New York Lien Law Essentials: 5 Key Facts for Commercial Lenders

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.