Payments Dive

JULY 18, 2024

Consumer advocates say the merger will stifle competition and give the combined company an easy avenue to raise fees on card payments.

Capital 317

Capital Cards Payments Company 317

Perficient

JULY 18, 2024

Wealth management is evolving rapidly, driven by generational shifts, changing advisor roles, new business models, regulatory demands, and a growing preference for low-cost passive products. In response to these changes, our fintech client partnered with one of the world’s largest financial institutions to develop a next-generation, open-source, front-to-back wealth management platform.

Management 221

Management Data Customer Experience Innovation 221

South State Correspondent

JULY 18, 2024

Sometime soon, one of the banks reading this will likely be the last bank to handle paper checks. Last week’s announcement that Target, one of the nation’s largest retailers, will not take personal checks past July 15 th has made bankers take notice. Target joins Whole Foods, Aldi, and Lululemon as major retailers that have found that checks eat up too much margin.

Fraud 195

Fraud Payments social media Operations 195

Payments Dive

JULY 18, 2024

The federal agency weighed in Thursday with a proposed rule to oversee the burgeoning earned wage access industry.

Lending 221

Lending Industry 221

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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.

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BankInovation

JULY 18, 2024

The Consumer Financial Protection Bureau proposed an interpretive rule affecting earned wage products, or paycheck advance products, ensuring that employees are aware of costs and fees for these services, according to today’s CFPB release. Paycheck advance products allow employees real-time access to earned wages.

Marketing 125

Marketing Payments 125

BankInovation

JULY 18, 2024

The Bank of England warned that its CHAPS service — one of the largest high-value payment systems in the world — has been affected by a global payments issue, causing some large, time-sensitive payments to be delayed.

System 119

System Payments 119

TheGuardian

JULY 18, 2024

Revamp of 42-storey block when bank moves out in 2027 will include new terraces and leisure facilities Business live – latest updates Canary Wharf Group has unveiled plans to remove large chunks from the HSBC tower as part of a revamp of the 42-storey office block when the bank moves out in 2027. The property company said it would carve out sections of the tower’s facade to create terraces as part of plans to transform the office block – a skyscraper in the east London financial district – into

Groups 96

Groups Company 96

BankInovation

JULY 18, 2024

KeyBank spends $800 million annually on technology and expects expenses to grow in 2025 as it continues to invest in overall operations.

Operations 125

Operations Technology 125

American Banker

JULY 18, 2024

The bank plans to turn away transactions for apps like Afterpay, Affirm, Klarna and others. Its move comes as these third parties face increasing scrutiny from regulators and industrywide concerns over risk.

Cards 87

Cards Regulation Payments Technology 87

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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

Community Bank

BankInovation

JULY 18, 2024

Citizens Bank is deploying generative AI and migrating operations to the cloud as part of its cost-saving and efficiency measures. The bank reported that 70% of its applications will be on the cloud by the end of 2024 and it aims to deploy generative AI to increase efficiencies at its call centers.

Operations 79

Operations Report Retail 79

American Banker

JULY 18, 2024

FactSet, Brightwave and Bloomberg are among those offering generative AI models that do research legwork. But Wall Street firms have lately been taking a harder look at the cost and return of generative AI.

Tools 90

Tools Capital Marketing Technology 90

The Paypers

JULY 18, 2024

The UAE Ajman Transport Authority has partnered with payment solutions provider BPC to digitalise public transport payments through O-CITY.

Payments 81

Payments 81

American Banker

JULY 18, 2024

Mixed earnings results at Wells Fargo and the ongoing merger proposal between Discover Financial Services and Capital One Financial are creating added pressure for investors.

Capital 83

Capital Industry 83

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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.

Lending

TheGuardian

JULY 18, 2024

The FCA says financial firms should not disadvantage people running for office and their families The UK’s biggest banks have been told by the City watchdog to do more to ensure parliamentarians, senior public servants and their families are treated fairly in the wake of the Nigel Farage debanking row. In a warning to financial firms – including banks, payment firms and lenders – the Financial Conduct Authority (FCA) said they should not disadvantage people running for office or taking senior pu

Payments 67

Payments Regulation 67

American Banker

JULY 18, 2024

The Dallas-based company, whose earnings per share fell short of consensus by 6 cents, lowered its revenue forecast and raised its expense outlook. Its stock price fell more than 8% on Thursday.

Texas 81

Texas Dallas Capital Company 81

Bussman Advisory

JULY 18, 2024

This week’s must-know stories in the FinTech, AI and Digital Asset space. The latest edition of the FinTech Ecosystem Newsletter is here: The post Banks and payments hit as faulty CrowdStrike update | OpenAI debuts mini version of its most powerful model yet | Stripe valuation hits $70bn appeared first on Bussmann Advisory AG.

Payments 52

Payments Fintech blockchain 52

American Banker

JULY 18, 2024

The Georgia-based bank recorded a $257 million hit after unloading a bundle of securities that it expects to redeploy into higher-yielding assets. It also forecast a resumption of loan growth in the second half of the year.

Security 81

Security Georgia 81

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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.

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ABA Community Banking

JULY 18, 2024

At the midpoint of the year, what's the M&A outlook like for community banks? The post Podcast: M&A outlook with Paul Davis appeared first on ABA Banking Journal.

Community Bank 52

Community Bank Community 52

American Banker

JULY 18, 2024

The $22 billion-dollar earned wage access industry is vigorously opposing the Consumer Financial Protection Bureau's plan to classify paycheck advances as consumer loans requiring disclosures of fees and costs, and says it will fight the rule in court.

Industry 45

Industry Policies Compliance Lending 45

The Paypers

JULY 18, 2024

Global financial technology company FIS has integrated Lendio ’s technology to introduce its new SMB Digital Lending solution and support small businesses in accessing funding.

Technology 45

Technology Lending Financial Technology Company 45

American Banker

JULY 18, 2024

Financial services supervisors should revisit the concept of regulatory sandboxes. Doing so would allow fintechs to gain needed experience in the world of banking, while fostering innovation.

Regulation 57

Regulation Fintech Innovation Compliance 57

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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.

Lending

The Paypers

JULY 18, 2024

US-based Capital One has announced the launch of a community benefits plan that is set to deliver over USD 265 billion in lending, investment, and philanthropy over five years.

Community 41

Community Capital Lending US 41

American Banker

JULY 18, 2024

Reps. Patrick McHenry, R-N.C., and Maxine Waters, D-Calif., who run the House Financial Services Committee, today released their report on artificial intelligence in the financial industry.

Report 41

Report Industry Policies 41

The Paypers

JULY 18, 2024

UK-based D•One has announced that NewDay , an unsecured consumer credit provider, went live with its Open Banking connectivity and transaction categorisation solutions.

41

41

American Banker

JULY 18, 2024

Payroll advances would be considered consumer loans under an interpretive rule by the Consumer Financial Protection Bureau that would require disclosures of annual percentage rates and fees under the Truth in Lending Act.

Industry 36

Industry Lending Policies Compliance 36

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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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