Mon.Jul 29, 2024

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Affirm says CFPB’s proposed BNPL rules will confuse customers

Payments Dive

In commenting on the proposal, the BNPL provider said consumers would be better served by rules specific to BNPL transactions, as opposed to credit card regulations.

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Introducing The Industry’s Best Banking Calendar

South State Correspondent

It has long frustrated us that our industry has no aggregate banking calendar. That is, there is no single place to see all the banking conferences, workshops, symposiums, and conventions (we will use the generic “conference”) in the banking industry. If you are trying to budget for next year, train yourself, train your people, prospect, or explore a particular discipline, it will take you hours of research, and you will likely still come up short.

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Milberg roils Visa-Mastercard settlement claims process

Payments Dive

The law firm falsely suggested it represented well-known businesses in the claims filing process and blamed an outside party for the snafu that prompted a call for sanctions.

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The Most Powerful Women in Banking: Next 2024

American Banker

Each year, in advance of our Most Powerful Women in Banking and Finance awards, American Banker puts together a list of 15 women who are rising stars at their banks. The honorees, all women 40 years old and younger, are nominated by an executive at their institution who believes that she has the potential to ascend to the C-suite.

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Fall In Love With the Month-End Close

It's the time of year to give our close process some TLC. Join us in this one hour webinar where we discuss how to adopt leading practices and infuse technology into the month-end close process to improve our experience and increase our productivity during month-end and quarter-end close. Learning Objectives: This course's objective is to understand how the month-end close can be improved with automation and adoption of leading practices.

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Capital One racks up Walmart, Discover costs

Payments Dive

The card company set aside more than $800 million to brace for credit card losses tied to its break-up with retail behemoth Walmart.

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Bankers want regulators, police to get serious about check fraud

American Banker

In a new survey of bank executives from IntraFi, 90% of respondents said instances of check fraud have increased in recent years and half want law enforcement to make check fraud a bigger priority to stop criminals from stealing checks in the mail.

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Inside look: Frost Bank’s AI and payments strategy

BankInovation

Frost Bank is investing in its AI, payments and customer onboarding experience to remain competitive and penetrate new markets. In the second quarter, the $49 billion San Antonio-based bank upped its technology spend 8% year over year to $35.9 million, according to its July 25 earnings report.

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Stripe, Klarna attract investment in sign of payment sector's recovery

American Banker

New funding would increase valuations for both firms, reversing a slump that has impacted the entire industry for the past two years.

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Visa takes on not-so-friendly fraud

BankInovation

Dishonest consumers are upping their fraud game as “friendly fraud” becomes the No. 1 problem in credit card disputes, but tech providers and merchants alike are upping their ability to fight through data and AI. Friendly fraud and chargeback fees cost businesses more than $117 billion in 2023, according to a PayPal report.

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5 Ways You Can Win Faster with Gen AI in Sales

Incorporating generative AI (gen AI) into your sales process can speed up your wins through improved efficiency, personalized customer interactions, and better informed decision- making. Gen AI is a game changer for busy salespeople and can reduce time-consuming tasks, such as customer research, note-taking, and writing emails, and provide insightful data analysis and recommendations.

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Willette Shalishali, Synovus | Next 2024

American Banker

Shalishali joined the $59.7 billion-asset bank through an early talent program, which exposed her to different aspects of banking. She ended up starting off as a credit analyst before taking on other roles, such as a private wealth advisor and a commercial banker.

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Xerberus launched tool to recover scammed crypto funds

The Paypers

UK-based crypto risk rating protocol Xerberus has launched ‘Siren’, a crypto scam recovery tool.

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Natalie Wech, M&T Bank | Next 2024

American Banker

Wech worked her way up over the past 16 years from a trainee through the retail division, becoming a branch manager, the manager of multiple locations, a team leader and now a regional head for business banking.

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ECB cyber resilience stress test reveals banks' strengths and gaps

The Paypers

The European Central Bank (ECB) has concluded its cyber resilience test, showing banks' strengths and weaknesses in handling cyberattacks.

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The Role of Automation in Commercial Lending

Automation is changing the game for commercial lenders, offering a clear path to competitive advantage in 2025. Rising costs, outdated workflows, and manual data entry slow growth and impact borrower satisfaction. Automation addresses these challenges, reducing costs, speeding up loan cycles, improving accuracy, and elevating borrower experiences. With market uncertainty easing, now is the time to act—waiting until loan volumes rebound leaves lenders unprepared and struggling to compete.

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Kerry White, Citigroup | Next 2024

American Banker

As a managing director within Citi Investment Management, a division that sits within wealth, White is playing an integral part in reshaping that line of business.

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Revolut partners with Paysafe

The Paypers

Revolut has announced its partnership with Paysafe in order to enable cash deposit services for its customers and clients in the region of the UK.

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Mallory Niemczyk, Ally Financial | Next 2024

American Banker

With 16 years at the company, Niemczyk is an Ally lifer. She is currently a senior director of invest and deposits business operations and analytics at the bank.

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Stripe acquires Lemon Squeezy

The Paypers

Stripe has announced the acquisition of Lemon Squeezy with the aim to enhance payment solutions and make selling effortless.

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10 Ways to Leverage Buyer Signals and Drive Revenue

In today’s ultra-competitive markets, it’s no longer enough to wait for buyers to show obvious signs of interest. Instead, sales teams must be proactive, identifying and acting on nuanced buyer behaviors — often before prospects are fully ready to make a purchase. In this eBook from ZoomInfo & Sell Better, learn 10 actionable ways to use these buyer signals to transform your sales strategy and close deals faster.

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Jessica Payne, The Raine Group | Next 2024

American Banker

The biggest initial public offering of 2023 — chipmaker ARM's September debut on Nasdaq, which valued the U.K.-based company at $54.5 billion — marked a memorable day for investment banker Jessica Payne, who advised ARM's Japanese owner, Softbank, on the deal.

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UnionPay expands European travel benefits network

The Paypers

UnionPay has augmented European travel with 80% merchant acceptance and summer offers in 20 countries, providing convenient payment options for tourists.

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The CrowdStrike debacle shows it's always time to plan for 'next time'

American Banker

Contingency planning always seems theoretical.until it isn't. Planning for the unexpected can prepare you to serve customers well in times of crisis.

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Eltropy launches AI suite for credit unions and banks

The Paypers

Eltropy , a provider of AI-powered conversation platforms for community financial institutions (CFIs), has announced a new AI suite tailored for credit unions and community banks.

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Outsource With Confidence for RDC Program Success

Remote Deposit Capture (RDC) clients are more likely to use additional treasury services and maintain larger deposits. However, poor customer experiences—particularly if they delay deposits—can compel RDC clients to take their business elsewhere. This eBook makes the case for outsourcing RDC operations to a proven managed services partner. This approach helps Treasury Departments with limited resources provide excellent client experiences that result in higher retention and productivity rates.

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Live Oak Bank preps new banking-as-a-service initiative for expansion

American Banker

The Wilmington, North Carolina-based institution is pursuing a model that cuts out the middleman and embeds its services directly into fintech partners' platforms.

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Salaam Somali Bank partners with Mastercard

The Paypers

Salaam Somali Bank has announced its partnership with Mastercard in order to launch the Waafi Card, a digital-first co-branded multi-currency prepaid card.

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Renasant to acquire Mississippi bank for $1.2 billion

American Banker

The buyer said the all-stock deal to buy The First Bancshares would create a combined bank with $25 billion of assets.

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NTT DATA teams up with Lynx Tech

The Paypers

Artificial intelligence software provider Lynx has entered a strategic collaboration with NTT DATA to utilise its network and insights to scale its solutions across the UK and EU.

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Signal-Based Selling: How to Leverage 4 Key Buying Signals

As prospects define their problem, search for solutions, and even change jobs, they are generating high-value signals that the best go-to-market teams can leverage to close more deals. This is where signal-based selling comes into play. ZoomInfo CEO Henry Schuck recently broke down specific ways to put four key buying signals into action with the experts from 30 Minutes to President’s Club.