X adds state money licenses in pursuit of payments
Payments Dive
AUGUST 28, 2023
The social media company, formerly known as Twitter, advanced its payments strategy by collecting two more state money transmitter licenses.
Mon.Aug 28, 2023
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How banks can reimagine a winning loyalty strategy
Accenture
AUGUST 28, 2023
How loyal are your customers? And do they feel truly rewarded for their ongoing relationship with your bank? According to recent Accenture research, banking customers view loyalty as a two-way street: they are open to being loyal to one primary bank, but they want their bank to recognize and reward this loyalty. And while the… The post How banks can reimagine a winning loyalty strategy appeared first on Accenture Banking Blog.
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Processor trade group weighs in on FedNow, surcharges
Payments Dive
AUGUST 28, 2023
The American Transaction Processors Coalition, which includes payments players from Visa to Fiserv, strives to strike a balance in representing their interests at the federal and state levels.
The Term Structure of Rates and Its Impact on Commercial Borrowing
South State Correspondent
AUGUST 28, 2023
Bankers need to consider the term structure of rates, also known as the yield curve shape, when structuring and pricing commercial loans to maximize return and reduce risk. Many bankers and borrowers are convinced that a recession is imminent, but the current term structure of rates does not necessarily establish this conclusion. The yield curve’s predictive power is not causal; instead, there is a weak relationship between short and long-term rates, and it is not just the slope of the c
Fall In Love With the Month-End Close
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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.
Incoming payments CEOs usher industry into new era
Payments Dive
AUGUST 28, 2023
A spate of CEO appointments this year reflects an era of change and competition that’s likely to keep driving turmoil and advances in the industry.
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AiFi adds frictionless checkout to University of San Diego convenience store
Payments Dive
AUGUST 28, 2023
Fast-paced campus life is turning schools into an attractive market for autonomous retailers.
Ninth Circuit confirms discrete actions in debt collection litigation can trigger FDCPA one-year statute of limitations
CFPB Monitor
AUGUST 28, 2023
A panel of the U.S. Court of Appeals for the Ninth Circuit recently held that because of the timing of a filing in a collection action against a student loan borrower, his claim that debt collectors violated the Fair Debt Collection Practices Act (FDCPA) was not time-barred, reversing the lower court’s dismissal. .
B2C payouts are at a turning point — Digital value is the transformation they need
Payments Dive
AUGUST 28, 2023
Digital experiences transformed how consumers make payments—now it’s time for B2C payouts to catch up.
BNY Mellon selects Salesforce for advisory productivity
BankInovation
AUGUST 28, 2023
BNY Mellon technology arm Pershing X is collaborating with cloud-based software provider Salesforce to automate data exchange for a unified platform for wealth management firms.
5 Ways You Can Win Faster with Gen AI in Sales
Advertiser: ZoomInfo
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.
Key's profits have sunk. Can it move fast enough to soothe investors?
American Banker
AUGUST 28, 2023
The regional bank's stock price is down 38% this year, and it recently got downgraded by S&P Global. While there's light at the end of the tunnel — as Key looks to rebound from the negative impact of soaring interest rates — analysts question whether the improvement will take too long to materialize.
Membrane Finance launches euro stablecoin on the Solana blockchain
The Paypers
AUGUST 28, 2023
Finland-based fintech company Membrane Finance has launched a MiCA-compliant euro stablecoin on the Solana blockchain.
Five Star Credit Union is buying a third Georgia bank
American Banker
AUGUST 28, 2023
The Alabama-based credit union has agreed to purchase the $215 million-asset OneSouth Bank in Macon; it also purchased Georgia banks in 2014 and 2015.
Safaricom to launch mobile money service in Ethiopia
The Paypers
AUGUST 28, 2023
Safaricom has announced that they will launch M-Pesa in Ethiopia by the end of September 2023 and will have it integrated with more banks.
The Role of Automation in Commercial Lending
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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.
5 things to keep in mind when choosing a core banking system
American Banker
AUGUST 28, 2023
Some banks are gravitating toward API connectivity to build an "ecosystem of applications." Others like a one-stop-shop or ready access to executives.
US reveals new rules for crypto tax reporting
The Paypers
AUGUST 28, 2023
The US Treasury Department has proposed a new rule that would compel cryptocurrency brokers to report on users' sales and exchanges of digital assets.
Small bank in Maine offers mortgages friendly to devout Muslims
American Banker
AUGUST 28, 2023
Followers of Islam cannot pay interest on loans. Androscoggin Bank figured out a way to structure a new product that addresses that challenge and paves a path to more homeownership.
Cloud migration vital for banking industry
BankInovation
AUGUST 28, 2023
Cloud migration projects have become increasingly important for the banking industry, offering benefits that can revolutionize how financial institutions operate. In an era in which digital transformation is reshaping the landscape, it is vital for banks to adapt to stay competitive and meet evolving customer expectations.
10 Ways to Leverage Buyer Signals and Drive Revenue
Advertiser: ZoomInfo
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.
How JPMorgan Chase's use of Tap to Pay puts pressure on merchant acquirers
American Banker
AUGUST 28, 2023
The bank's retail clients can enable iPhones to accept payments without extra hardware, raising the stakes for any company that competes with the bank for merchant clients.
UK financial firms ‘may be lending over £174m a month to at-risk gamblers’
TheGuardian
AUGUST 28, 2023
Bank data analysis suggests lenders could be unwittingly fuelling gambling problems by extending credit Financial institutions in the UK may be lending more than £174m a month to people who are using a risky proportion of their income on gambling, an analysis of the spending patterns of loan customers suggests. The credit technology firm Abound looked at the open banking data of people who applied for its loans and used artificial intelligence to assess all their financial transactions over a si
Stop viewing the representation of women in fintech as an afterthought
American Banker
AUGUST 28, 2023
The need to create a pipeline of female leaders in the male-dominated fintech space is urgent and deserves the industry's attention.
BEST Vietnam partners with Techcombank
The Paypers
AUGUST 28, 2023
BEST Vietnam has partnered with Techcombank to improve cashless payments through the latter’s Virtual Account solution and QR code scanning.
Outsource With Confidence for RDC Program Success
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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.
7 industries with the most fintech financings so far this year
American Banker
AUGUST 28, 2023
The top three industries have $19.8 billion in combined fintech financings through June 2023.
Mastercard partners with Ingiz
The Paypers
AUGUST 28, 2023
Mastercard has partnered with Ingiz , an Egypt-based family financial management startup, to launch a digital payments app aimed at driving financial literacy and inclusion among youth in Egypt.
San Francisco Fed bank-supervision chief to depart
American Banker
AUGUST 28, 2023
Azher Abbasi, executive vice president of the supervision and credit group at the Federal Reserve Bank of San Francisco, will retire on Oct. 31. Niel Willardson, a former Minneapolis Fed official, will replace him as interim executive vice president Oct. 1.
Banking Circle Group launches BC Payments in Australia
The Paypers
AUGUST 28, 2023
Tech-led payments business Banking Circle Group has expanded in Australia with the launch of its licenced subsidiary BC Payments to help fintechs scale internationally.
Signal-Based Selling: How to Leverage 4 Key Buying Signals
Advertiser: ZoomInfo
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.
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