CFPB may take legal action against Block
Payments Dive
FEBRUARY 23, 2024
The bureau has informed the digital payment company it’s weighing legal action related to a Cash App probe.
Fri.Feb 23, 2024
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Envestnet data and analytics revenue falls 7% YoY
BankInovation
FEBRUARY 23, 2024
Envestnet data and analytics revenue fell during its fiscal fourth quarter amid rumblings in December of a Yodlee sale. The wealthtech giant’s data and analytics revenue fell 7% year over year to $38.6 million during the quarter, according to its earnings presentation.
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Capital One-Discover deal carries $1.38B termination fee
Payments Dive
FEBRUARY 23, 2024
The fee would apply if Discover chooses another buyer or if either board has a change of heart, but not if regulators block the deal.
The gold revolution comes to ATMs
ATM Marketplace
FEBRUARY 23, 2024
Gold has long remained a stable asset and today that asset is coming to ATMs.
Back to Basics with Reconciliations
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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.
Google Pay app to be retired in US this year
Payments Dive
FEBRUARY 23, 2024
“To simplify the app experience, the U.S. version of the standalone Google Pay app will no longer be available,” the tech giant said in a Thursday blog post.
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Cash-strapped consumers turn to BNPL: Fed survey
Payments Dive
FEBRUARY 23, 2024
Consumers facing financial hardships turned to buy now, pay later services more last year than stable consumers, according to survey results from the Philadelphia Federal Reserve Bank.
Assisted Living Loans: Tailored Financing for Senior Care
Commercial Lending USA
FEBRUARY 23, 2024
The cost of assisted living can vary greatly depending on various factors, including location, type of care required, facilities supplied, and the individual facility.
PayPal finance exec jumps to Flywire CFO seat
Payments Dive
FEBRUARY 23, 2024
Cosmin Pitigoi’s appointment comes six months after Flywire announced its long-time finance chief would be exiting.
Standard Chartered chief’s pay jumps 22% as lender reports profit bump
TheGuardian
FEBRUARY 23, 2024
Bill Winters’ pay rises to £7.8m as bank says annual pre-tax profits rose by 19% in 2023 to £4bn • Business live – latest updates Standard Chartered has handed its chief executive his largest pay package in nearly a decade as the lender reported a jump in profits, despite bracing for up to £1bn in potential losses due to China’s property downturn. The profit bump helped push the longstanding chief executive Bill Winters’ pay up 22% to £7.8m – from £6.4m in 2022.
How a Managed Services Partner Can Reduce the Friction in Your RDC Program
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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
FinCEN proposes BSA reporting requirements for residential real estate
CFPB Monitor
FEBRUARY 23, 2024
On February 16, the Financial Crimes Enforcement Center (“FinCEN”) published a Notice of Proposed Rulemaking (“NPRM”) regarding residential real estate. The final version of the NPRM published in the Federal Register is 47 pages long. We have created a separate document which more clearly sets forth the proposed regulations themselves, at 31 C.F.R.
Jack Dorsey's plan to reshape Square
American Banker
FEBRUARY 23, 2024
After his aggressive cost-cutting raised profits above analysts' expectations, Block's CEO aims to retool several features of Square and Cash App to enable them to operate like a "social bank.
Cap One could dodge law requiring added processing capacity
BankInovation
FEBRUARY 23, 2024
Capital One could be excluded from the proposed Credit Card Competition Act of 2023 if its acquisition of Discover Financial Services goes through and the bank creates an in-house processor. Read more on the Capital One, Discover deal The proposed act, introduced in June 2023 by U.S. Sen.
South African mobile operators combat fraud with GSMA initiative
The Paypers
FEBRUARY 23, 2024
Telecommunications operators Cell C , MTN , and Telkom have welcomed the launch of two universal APIs available in South Arica that combat fraud and digital identity theft.
Budget Playbook for Commercial Lenders — Bank and Credit Union Edition
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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.
It's time to revamp the call report's archaic handling of CRE loans
American Banker
FEBRUARY 23, 2024
The quarterly filings ought to include far more detailed breakdowns of banks' commercial real estate loan portfolios, including the crucial distinction between owner-occupied properties and rentals.
Lloyds to face AML controls investigation
The Paypers
FEBRUARY 23, 2024
The Financial Conduct Authority (FCA) of the UK has initiated an investigation into Lloyds Banking Group ’s Anti-Money Laundering (AML) controls.
Deepening downturn in U.S. agriculture economy red flag for banks
American Banker
FEBRUARY 23, 2024
The USDA forecasted farm profits will plunge 26% this year, potentially creating credit quality challenges for lenders.
Ripple partners with Commercial International Bank (CIB)
The Paypers
FEBRUARY 23, 2024
Egypt-based Commercial International Bank has partnered with Ripple to implement blockchain technology aiming to enhance the efficiency of cross-border payments.
It Takes Two to Tango
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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.
Tenn. bank is latest to be penalized over banking as a service
American Banker
FEBRUARY 23, 2024
An FDIC enforcement action against Lineage Bank is part of a wave of cases involving banks that have partnered with fintechs in recent years.
Google Pay to launch SoundPod in India
The Paypers
FEBRUARY 23, 2024
Google has announced its plans to launch the SoundPod, its portable speaker developed to validate and announce successful payments instantly, to SMEs across India.
The DOJ doubles down on AI, HTLF's CEO announces retirement
American Banker
FEBRUARY 23, 2024
The Department of Justice appoints Jonathan Mayer as its first chief AI officer, HTLF's CEO Bruce Lee plans to retire, Wilmington Trust's Doris Meister will step down in May, and more in the weekly banking news roundup.
Prove Identity partners with TargetData
The Paypers
FEBRUARY 23, 2024
Prove Identity has announced its partnership with TargetData in order to continue its expansion in Brazil and provide customers with its suite of solutions.
The 2024 Lenders Guide to Automating the Complex Loan
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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.
Green Dot partners with Dayforce
The Paypers
FEBRUARY 23, 2024
US-based digital bank and fintech Green Dot Corporation has announced its collaboration with Dayforce , serving as the banking provider for the Dayforce Wallet.
Griffin launches Foundations, an embedded banking programme
The Paypers
FEBRUARY 23, 2024
UK-based API-first bank Griffin has launched Foundations, a programme for UK companies to integrate financial products with BaaS solutions.
Rawcaster partners with iDenfy
The Paypers
FEBRUARY 23, 2024
iDenfy has announced collaborating with Rawcaster , a social media platform designed for influencers and their fans, aiming to increase influencer security.
Bottomline updates its internal threat management solution
The Paypers
FEBRUARY 23, 2024
Global business payments provider Bottomline has upgraded its technology for banks and FIs to monitor, detect, and prevent fraud from within the business.
Confronting the Change Challenge
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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.
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