Banks lagging behind on real-time payments are making a mistake
American Banker
OCTOBER 3, 2023
FedNow and RTP are only going to get better and more efficient as they become interoperable and develop new use cases. It's time to get on board.
Tue.Oct 03, 2023
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Shift4 acquires SpotOn unit for $100M
Payments Dive
OCTOBER 3, 2023
With the purchase of SpotOn’s sports and entertainment business unit, Shift4 scoops up its rival’s customers in that market.
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Major shakeup at Truist’s tech innovation operation
BankInovation
OCTOBER 3, 2023
Truist Financial is overhauling its digital innovation operations. Bank Automation News has learned that a key bank C-level innovation officer left Truist last week, and the bank shut its Foundry unit, which led the FI’s skunkworks ventures.
Credit card debt tops $1 trillion, before the holidays even arrive
Payments Dive
OCTOBER 3, 2023
Retailers may feel the pinch, especially those whose own store cards are facing rising delinquencies and a potential cap on late fees.
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.
Why Visa is investing in artificial intelligence startups
American Banker
OCTOBER 3, 2023
The payments company launched a $100 million fund for generative AI, creating a potential group of partners that can build on the card network's global scale.
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How to fight back against ATM fraud
ATM Marketplace
OCTOBER 3, 2023
ATM fraud via skimming and other techniques is on the rise. How can operators fight back?
Payments bill defies congressional rancor
Payments Dive
OCTOBER 3, 2023
A bill important to the payments industry has attracted bipartisan support despite the political divide on Capitol Hill.
LOS Administrators: Champions of Change for Digital Adoption
Jack Henry
OCTOBER 3, 2023
A loan administrator’s job is crucial ‒ and hectic. They deal with customer complaints, delinquent loan payments, and other financial headaches and deadlines on a daily basis. But they also get to work closely with applicants, helping them identify and reach their goals. It’s stressful, no doubt, but rewarding.
Ceridian leans on payroll with EWA app
Payments Dive
OCTOBER 3, 2023
Offering payroll services through its human resources software gives Ceridian an advantage in the earned wage access market, executive Deepa Chatterjee said.
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.
How much personality should a bank give its bot?
American Banker
OCTOBER 3, 2023
U.S. Bancorp and Truist picked literal names for their virtual assistants to avoid confusing customers, while Fifth Third and Regions created characters called "Jeanie" and "Reggie" to put clients at ease. Other companies are trying to split the difference.
One-fifth of consumers consider BNPL to stretch holiday budgets: survey
Payments Dive
OCTOBER 3, 2023
Millennials are the most willing age group to consider BNPL to manage holiday spending amid rising prices, according to a Square and Afterpay report.
JPMorgan exec says 'Wall Street 2.0' will be better for women
American Banker
OCTOBER 3, 2023
Mary Callahan Erdoes, CEO of asset and wealth management at the megabank, says recent advancements in remote connectivity will lead to a "much better Wall Street than many of us grew up in." She urges women not to let newfound flexibility go away.
Payment security at the pump tops consumer demands: survey
Payments Dive
OCTOBER 3, 2023
A fast payment process is another top feature customers value when buying items from convenience stores, Dover Fueling Solutions noted in its latest report.
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.
SCOTUS to Determine When Clock Starts under APA’s Statute of Limitations
CFPB Monitor
OCTOBER 3, 2023
Last Friday, the U.S. Supreme Court agreed to decide when a right of action first accrues for an Administrative Procedure Act (APA) challenge to a final rule issued by a federal agency—when the final rule is issued or when the rule first causes injury. In April 2021, the North Dakota Retail Association, North Dakota Petroleum Marketers Association and Corner Post, Inc.
Central Bank of Kenya joins the African Payments and Settlement network
The Paypers
OCTOBER 3, 2023
The Central Bank of Kenya (CBK) has become a member of the Pan African Payments and Settlement System (PAPSS).
Ally Financial starts job cuts with less than 5% of staff affected
BankInovation
OCTOBER 3, 2023
Ally Financial Inc. started cutting jobs on Monday, initiating a workforce reduction that will affect less than 5% of the company’s overall headcount. The Detroit-based firm said the job cuts will occur across divisions and aren’t isolated to a single line of business, spokesperson Peter Gilchrist told Bloomberg News in an email.
SEON launches its solutions on AWS Marketplace
The Paypers
OCTOBER 3, 2023
Hungary-based SEON has announced the launch of its suite of fraud prevention solutions on the Amazon Web Services (AWS) Marketplace.
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.
Podcast: Grasshopper Bank adds to its startup offerings
BankInovation
OCTOBER 3, 2023
Grasshopper Bank is looking to expand its support of the innovation economy with the launch of a new operating account intended for venture-backed startups.
Banks' insurance units are fetching top dollar, but selling brings risk
American Banker
OCTOBER 3, 2023
M&T Bank, Truist Financial and Eastern Bankshares are among the banks that have sold all or part of their insurance subsidiaries over the last year. Though the price is right, analysts warn that when interest rates decline, sellers will be without a key source of fee income.
Combining physical and digital, a new era of bank branches
BankInovation
OCTOBER 3, 2023
Banks are shuttering physical locations as digital and mobile banking adoption rises and footfall in branches dwindles. According to Forrester’s “The State of Digital Banking 2023” March report, online banking is the most popular channel in North America and throughout most of Europe.
On the cards: Amex UK boss on plans for BNPL and keeping BA tie-up despite climate crisis
TheGuardian
OCTOBER 3, 2023
Hannah Lewis on the financial services firm’s partnership with airline, weathering the pandemic and navigating a male-dominated business world For a company so closely tied to the business travel elite, the Covid lockdown orders issued in March 2020 were particularly troubling for American Express. With shops shut, borders closed and its cohort of jetsetting business customers suddenly chained to their kitchen tables, the credit card company was hit with an immediate drop in consumer spending.
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.
Thunes partners with Access Africa
The Paypers
OCTOBER 3, 2023
B2B payments infrastructure platform Thunes has announced a partnership with Access Bank to improve cross-border payments in and out of 13 African countries.
The Supreme Court is done talking about the CFPB
American Banker
OCTOBER 3, 2023
The high court heard what is likely the last realistic judicial attempt to assert that the Consumer Financial Protection Bureau is structurally unconstitutional. It didn't go well for the plaintiffs.
Salt Edge partners with SeaPay
The Paypers
OCTOBER 3, 2023
Fintech company Salt Edge has announced its partnership with SeaPay in order to provide Saudi Arabian merchants and traders with Open Banking solutions.
Investor recruits veteran exec to end feud that's cost Pa. bank millions
American Banker
OCTOBER 3, 2023
Activist investor Abbott Cooper, who has been locked in a battle with management at AmeriServ Financial for more than a year, plans to nominate former Amalgamated Financial head Keith Mestrich in a bid to end the impasse.
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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