Fri.Jul 26, 2024

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How to speed up FedNow adoption

Payments Dive

“Interfaces need to be standardized to ensure a consistent and reliable payment experience for businesses and consumers,” writes one payments software executive.

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What caused the LDI crisis?

BankUnderground

Gabor Pinter, Emil Siriwardane and Danny Walker In September 2022 the interest rate on UK gilts rose by over 100 basis points in four days. These unprecedent market movements are generally attributed to two key factors: the 23 September announcement of expansionary fiscal policy – the so-called ‘mini-budget’ – which was then amplified by forced sales by liability-driven investment funds (LDI funds).

Policies 134
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PayPal changes chairman, reduces board size

Payments Dive

PayPal’s chairman of nine years left that post this week, and was replaced by one of the board’s newer members.

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Movers and shakers: Alliant Credit Union appoints Jamie Warder as CIO

BankInovation

Chicago-based Alliant Credit Union has selected Jamie Warder as its chief information officer and head of business strategy, effective July 8. In his new role, Warder is responsible for the technology and business strategy at the $20 billion credit union, according to a company release.

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Back to Basics with Reconciliations

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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Savers urged to lock in best deals before UK interest rate decision

TheGuardian

With Bank of England meeting on 1 August, people are advised to take advantage of top-paying accounts now Experts are split on whether there will be a UK interest rate cut on Thursday but most agree on one thing: savers should “act now” to lock into the best rates while they are still available. All eyes will be on the Bank of England’s monetary policy committee when it meets on 1 August, although while some believe we could see it announce the first base rate cut in more than four years, others

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What is the cost of doing banking-as-a-service 'well'?

American Banker

Financial institutions that entered the space before regulatory oversight intensified need to calculate whether the price of talent, risk planning, and technology is worth the return.

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Banking privacy: 5 benefits for banks, customers

ATM Marketplace

Banking privacy is a huge issue for customers. Here are five ways to improve it.

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The need to financially mainstream Hispanic immigrants is urgent

American Banker

Fostering financial well-being among the country's fastest-growing demographic group is essential to the future of the American economy. And, not incidentally, it's also good for business.

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OpenAI launches SearchGPT | Revolut wins UK banking licence | UniCredit to acquire Vodeno and Aion

Bussman Advisory

This week’s must-know stories in the FinTech, AI and Digital Asset space. The latest edition of the FinTech Ecosystem Newsletter is here: Image Credits: shutterstock.com The post OpenAI launches SearchGPT | Revolut wins UK banking licence | UniCredit to acquire Vodeno and Aion appeared first on Bussmann Advisory AG.

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How a Managed Services Partner Can Reduce the Friction in Your RDC Program

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

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What Should I Consider When Choosing Hard Money Lenders for New Construction?

Commercial Lending USA

Have you ever wanted to start from scratch and build your dream? Choosing hard money lenders for new construction projects can be challenging, but the options are endless.

Lending 52
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Real estate-heavy bank lays out a strategy overhaul

American Banker

First Foundation in Dallas recently got a $228 million capital injection led by Fortress Investment Group. Now it's announced plans to pivot away from its heavy focus on multifamily loans, which lost value as interest rates rose.

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House passes bill to combat illicit use of digital assets

The Paypers

The US House of Representatives has approved a bill aimed at forming a working group focused on addressing terrorism and illicit financing related to digital assets.

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How many credit unions acquired banks in 2024?

American Banker

The trend of credit unions buying banks is a lightning rod for controversy in the banking industry. Despite this, such mergers are increasingly common.

Trends 53
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Budget Playbook for Commercial Lenders — Bank and Credit Union Edition

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.

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PayTabs partners with Digital Haze

The Paypers

Payment solutions provider PayTabs Group has entered a channel partnership with Digital Haze to advance business operations across the Levant region.

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WesBanco strikes deal for Ohio community bank

American Banker

Ending a five-year M&A hiatus, the Wheeling, West Virginia-based company has agreed to pay $959 million in stock for Premier Financial in Defiance, Ohio.

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Marqeta joins forces with Visa and Affirm

The Paypers

Card issuing platform Marqeta has joined forces with Visa and Affirm to provide the Visa Flexible Credential, a single card product for different payment methods, in the US.

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Housing: The issue everyone is thinking about but not talking about

American Banker

Despite being a top concern for a wide swath of voters, housing affordability has largely been absent from presidential politics.

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It Takes Two to Tango

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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Spendbase teams up with Thredd

The Paypers

Global payments platform Thredd has entered a partnership with Spendbase , with the move supporting the latter’s expansion into North America.

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Fulton Financial hires new CFO, UBS senior exec leaves firm

American Banker

Fulton Financial taps Valley National's Richard Kraemer as its new CFO; UBS' veteran private banker Jenny Su has left the firm; Bank of America names Kevin Brunner head of global technology, media and telecommunications investment banking; and more in this week's banking news roundup.

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Microsoft teams up with Lumen Technologies

The Paypers

Enterprise technology and telecommunication company Lumen Technologies has entered a strategic collaboration with Microsoft to advance AI capabilities and digital transformation.

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Card issuer Bread boosts revenue outlook as late-fee rule gets stymied

American Banker

The store-branded credit card company revised its revenue guidance upward on the assumption that the CFPB's late-fee cap won't take effect before 2025. Still, Bread is moving ahead with plans to make up some of the revenue that it stands to lose from the contested rule.

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The 2024 Lenders Guide to Automating the Complex Loan

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.

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Mercury stops serving startups in several countries

The Paypers

Digital banking startup Mercury has recently announced that it no longer serves US-domiciled customers with passports from certain countries, including Ukraine, Nigeria, and others.

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The 9 Biggest AI Conferences for Financial Services, Banking & Fintech in 2024

Fintech Labs Insights

As artificial intelligence becomes a clear competitive advantage in financial services, it’s time to register for the AI events you’re considering. For the most part, early-bird prices are still in effect, so you can easily save $1,000 or more on a pair of tickets. Take a close look now at our curated list of top fintech, banktech, payment tech and investech global conferences for 2024.

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SWIVEL integrates with Apple Pay

The Paypers

SWIVEL , a fintech company specialising in transaction enablement solutions, has announced its integration with Apple Pay , enhancing digital payment options for its clients.

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NatWest takes £24m hit from abandoned ‘Tell Sid’ campaign

TheGuardian

Bank left with costs from Sir Trevor McDonald-fronted campaign after early election halted rollout Business live – latest updates NatWest was forced to spend £24m on the former Conservative government’s aborted “Tell Sid” advertising campaign featuring Sir Trevor McDonald , which would have resulted in a chunk of the bank’s state-owned shares being sold to the general public in a highly anticipated privatisation drive.

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Confronting the Change Challenge

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.