Fed dissects consumer use of digital payments
Payments Dive
SEPTEMBER 30, 2024
households have a bank account, just under half use a nonbank payment service, Kansas City Federal Reserve Bank research says. While most U.S.
Kansas City Related Topics 
First US non-Amazon-owned grocer to use palm-scanning tech
Payments Dive
DECEMBER 6, 2022
The retail giant is serving as a technology vendor to an independent grocer reopening soon in Kansas City, Missouri.
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Central Payments snags $30M
Payments Dive
AUGUST 15, 2022
The banking-as-a-service company wants to expand its reach as it spins off from the Central Bank of Kansas City.
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Scams ensnare even sophisticated consumers, Fed says
Payments Dive
NOVEMBER 18, 2024
Criminals leverage advanced technology to make so-called mule accounts that pass as humans and persuade consumers to send money to scammers, a Kansas City Fed paper says.
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Lead Bank and GoldBean Will Talk Bank-Startup Success at Bank Innovation 2018
Bank Innovation
FEBRUARY 26, 2018
At Lead Bank, a Kansas City, Mo.-based EXCLUSIVE – Josh Rowland, Chief Executive Officer and Vice Chairman of Lead Bank, will join Jane Barratt, CEO of GoldBean, to discuss banking innovation and bank-startup partnerships. Bank Innovation 2018 will take place March 5-6 in San Francisco.
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World Central Bankers Discuss Alternatives To The Dollar
PYMNTS
AUGUST 25, 2019
The 2019 Kansas City Federal Reserve’s annual symposium gathered the top monetary policymakers worldwide to kick around ideas to topple the dollar’s power, Bloomberg reported Sunday (Aug. Each year since 1978, the Federal Reserve Bank of Kansas City has sponsored a symposium on an important economic issue facing the U.S.
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nbkc bank Taps Finastra to Build Conversational Banking App
Bank Innovation
MAY 22, 2019
Kansas City-based nbkc bank is building a conversational banking app with Finastra on the vendor’s growing FusionFabric.cloud open platform.
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How Academy Bank is using video to improve service efficiency
Bank Innovation
SEPTEMBER 9, 2019
When customers walk into one of Academy Bank’s new branches, a banker will guide them to a screen where they can video chat with a specialist at Academy’s headquarters in Kansas City.
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Target Circle Loyalty Program To Go Nationwide In October
PYMNTS
SEPTEMBER 9, 2019
19 in five cities: Kansas City, Phoenix, Denver, Indianapolis and Charlotte, North Carolina. The retailer is said to join other merchants such as Nordstrom , Kohl’s, Nike and Macy’s, which have made bigger investments in loyalty efforts. The program was to debut on Feb.
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This Is How Our Regulators Are Viewing Bank Risk, Capital And Org Structure
South State Correspondent
JANUARY 8, 2015
The Kansas City Fed released an interesting research paper titled The Effect of Risk and Organization Structures on Bank Capital Ratios. The research looks at how risk and a bank’s organizational structure impacts its capital levels. In times of stress, does a bank holding company (BHC) structure help protect a bank or hurt it? '
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Kansas City Fed issues research briefing on buy now, pay later
CFPB Monitor
NOVEMBER 23, 2021
The Federal Reserve Bank of Kansas City recently issued a research briefing titled “ The Appeal and Proliferation of Buy Now, Pay Later: Consumer and Merchant Perspectives.”. The briefing divides buy now, pay later (BNPL) products into two main types based on how they are offered to consumers.
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Market Commentary: Week of April 11, 2022
SWBC's LenderHub
APRIL 11, 2022
Last week was highlighted by carnage in the long end of the Treasury yield curve as both Federal Reserve Vice-Chairwoman Lael Brainard and Kansas City Federal Reserve Bank President Esther George took to the airwaves to say that the Fed would be reducing its $8+ trillion balance sheet very soon.
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Uber Connect Expands For Holiday Package Delivery
PYMNTS
DECEMBER 9, 2020
locations recently added for Uber Connect include Atlanta, Boston, Charlotte, Charleston, Cincinnati, Cleveland, Columbus, Connecticut, Detroit, Fort Myers-Naples, Hampton Roads, Honolulu, Indianapolis, Jacksonville, Kansas City, Las Vegas, Milwaukee, Minneapolis-St. Louis, Tucson and Upstate New York.
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For Ag Lenders, Farm Outlook Warrants Watching
Abrigo
JUNE 29, 2022
The Kansas City Fed reported in May that wheat and corn prices were 60% and 30% higher, respectively, than a year earlier at the end of the first quarter. Kansas City Fed researchers in late May reported, “Farm production expenses, which had already been on the rise, increased even more sharply in the first quarter….
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Movie Chain AMC Says It Could Go Broke By Year’s End
PYMNTS
OCTOBER 13, 2020
The August reopening of one of those theaters – the location in Kansas City -- included some extra flair. million theater-goers had attended movies at AMC venues from the time of the theater reopenings, a decline of about 85 percent compared to a year prior. Celebrating the chain’s 100 th anniversary, AMC charged 15 cents for tickets.
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New Wire Fraud Scam Reroutes Direct Deposit Paychecks
PYMNTS
APRIL 9, 2019
KVC Health Systems, a child welfare nonprofit based out of Kansas City, has been hit with the scam. A new type of phishing scam targets the HR departments of companies and asks for reroutes on direct deposit accounts, CNBC reported. Once the changes are made, a paycheck will go directly into a criminal’s account.
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This week’s podcast episode: A close look at open banking and the role of data aggregators, with special guests Julian Alcazar, Payments Specialist, Federal Reserve Bank of Kansas City, and Adam Maarec, Senior Director and Associate General Counsel, Capital One
CFPB Monitor
SEPTEMBER 30, 2022
To read an article published by the Federal Reserve Bank of Kansas City and co-authored by Mr. Alcazar, “ Data Aggregators: The Connective Tissue for Open Banking ,” click here. Alan Kaplinsky, Ballard Spahr Senior Counsel, hosts the conversation. To listen to the episode, click here.
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Small Kansas City credit union to merge into CommunityAmerica
American Banker
APRIL 21, 2021
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Kansas City Fed rejects Custodia's master account application
American Banker
JANUARY 27, 2023
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Southern Missouri Bancorp buying bank to expand in Kansas City
American Banker
SEPTEMBER 22, 2022
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Fed Names Leader For FedNow Faster Payments Service
PYMNTS
AUGUST 15, 2019
“Ken brings deep financial services insights and technical expertise to his new role,” said Esther George, president and chief executive officer, Federal Reserve Bank of Kansas City, who is also the sponsor of the Fed’s payments improvement initiative. “He
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Fed Says America Needs Instant Payments As Soon As Possible
PYMNTS
AUGUST 7, 2020
Brainard, Kansas City Fed President Esther George and Boston Fed First Vice President Kenneth Montgomery also noted that the FedNow system will provide another option in a landscape already populated by, for example, The Clearing House Payments Co. FedNow Will Augment Private Systems, Not Replace Them .
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Building The Tire Shop Of The Future With On-Demand Service
PYMNTS
SEPTEMBER 12, 2019
The company services the two metroplexes of Kansas City and Dallas. Both cities are relatively spread out, so people have longer commute times. When it comes to demographics, the company finds that the majority of its customers are male, but its services do appeal to busy mothers as well.
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Fed official hits back at criticism of central bank’s payments role
Payments Source
JUNE 3, 2019
Competition from the public sector in payment services has benefited the public and should not be discounted in the development of a real-time system, said Kansas City Fed chief Esther George.
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5 questions with … UMB Bank Chief Information and Product Officer Uma Wilson
BankInovation
AUGUST 1, 2022
UMB Bank Chief Information and Product Officer Uma Wilson has focused on bringing together the technology and product development teams since assuming her role at the Kansas City, Mo.-based based bank in 2021.
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AMC Reopens Theaters With 15-Cent Ticket Pricing
PYMNTS
AUGUST 20, 2020
20, 1920 at the corner of 12 th Street and Grand Boulevard in Kansas City, Missouri. The reopening coincides with the 100 th anniversary of the launch of the chain, which opened its first theater on Aug. AMC said it plans to reopen another 300 theaters by Sept. 3, in time for Warner Bros.’
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Higher Education Eyes Freezing Tuition
PYMNTS
MAY 8, 2020
It isn’t alone — Delaware Valley University in Pennsylvania, Kansas City University and Central Michigan University are also considering similarly unchanged rates in order to offer an olive branch to students and families struggling due to the virus and the costly rates of higher education.
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Kansas City Based Academy Bank Makes Strategic Acquisition
Banking Exchange
OCTOBER 23, 2019
The Merger adds 5 Locations Management Feature M&A Feature3 Financial Trends Community Banking.
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SWIFT Gears Up For Trade Via Blockchain
PYMNTS
JANUARY 31, 2019
The trio is comprised three executives of the Federal Reserve Bank of Kansas City: Barbara Pacheco, former senior vice president, Thomas Hoenig, former president, and Bruce Summers, former director of information technology. Finally, a bit closer to home, Forbes reported that three payment experts who formerly served at the U.S.
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Postmates And NFL Team Up For Food Delivery
PYMNTS
SEPTEMBER 9, 2020
Deshaun Watson has stepped up to the challenge and is using Postmates to deliver meals to frontline workers at Truman Medical Center Hospital Hill in Kansas City.". Even at this late date – the first scheduled game is Sept. 10 – questions linger as to how well fans will abide by safety rules.
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Small banks turn to German fintech for deposit-gathering help
American Banker
OCTOBER 7, 2020
SaveBetter.com from Deposit Solutions lets consumers shop for different savings products through one portal and provides national exposure for participating banks, which include Ponce Bank in New York and Central Bank of Kansas City.
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83 Chase Plans Expansion In Top US Markets In 2019
PYMNTS
MARCH 13, 2019
Louis, Missouri; Pittsburgh, Pennsylvania; Kansas City, Kansas and Greenville, South Carolina, among others. The bank said about 30 percent of the branches will be in low or moderately low income communities. The new locations will include Charlotte, North Carolina; St.
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Community Bank Outlook: Challenges and Opportunities in 2021 and Beyond
Abrigo
AUGUST 6, 2021
One key area that can be both an obstacle and an opportunity for community banks is technology, the Federal Reserve Bank of Kansas City says. Technology is an obstacle and an opportunity. Technology can help streamline and automate many manual lending processes, reduce compliance costs, and enhance risk management.
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New CECL Excel SCALE Tool from Federal Reserve
Abrigo
JULY 26, 2021
Peer rates may be a reasonable starting point. It’s up to management to make adjustments up or down.” . Be Prepared. Timing issues to consider. Peer rates may be a reasonable starting point.
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195 Health Care Companies Data At Risk Of Being Compromised
PYMNTS
AUGUST 10, 2016
John Huff, director of the Missouri Department of Insurance, said in a statement in the report that information on 411,786 members of Blue Cross Blue Shield of Kansas City was potentially taken. Social Security numbers, medical information, bank account numbers and claims information were not part of the hack.
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Target To Bring Fresh, Frozen Groceries To Customers’ Cars
PYMNTS
JUNE 25, 2020
The company said in a release that it piloted the expanded grocery pickup program in Kansas City and in the Twin Cities in Minnesota. The move adds fresh and frozen grocery items to its existing pickup and delivery program.
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Retail Reopening Hinges On Dangerous Discounts
PYMNTS
MAY 27, 2020
For example, the Dillard’s store in Kansas City reported strong traffic as did its neighbors in the city’s Zona Rosa shopping district. There are deals on things that are rarely discounted, like cosmetics and Kendra Scott jewelry,” reported Fox4 in Kansas City.
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The Outside-The-Box Ways The World Is Beating Boredom
PYMNTS
SEPTEMBER 26, 2020
Some Kansas City chefs found that with restaurants closed, they suddenly had lots of time on their hands — and decided to make the best of it. The Chefs Who Take To The Mountains . But if honey’s not your thing — or you dislike hobbies that involve the risk of mass stinging — you can always form a biker gang.
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UMB Financial starts checking items off to-do list for Heartland deal
American Banker
JULY 31, 2024
The Kansas City, Missouri-based regional bank said it is making progress on its pending purchase of Heartland Financial USA in Denver. The deal is expected to close during the first quarter of 2025.
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Credit Card Interest Rates Rise To Near-Record Levels
PYMNTS
OCTOBER 9, 2019
Despite some previous pushback, the Fed, represented by Federal Reserve Bank of Kansas City President and Chief Executive Officer Esther L. House Committee on Financial Services Task Force on Financial Technology held a hearing on Sept. payments ecosystem. George, was met with widespread support from her fellow witnesses.
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152 Amazon’s Whole Food Discounts Are Rolling Out Across Dozens Of States
PYMNTS
MAY 30, 2018
As of today, the extra benefits are available at Whole Foods Markets in Arkansas, Colorado, Florida, Idaho, Kansas, Kansas City, Missouri, Louisiana, New Mexico, northern Nevada, northern California, Oklahoma, Texas and Utah.
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Ag lending outlook & top challenges
Abrigo
JULY 25, 2022
As farmers adjust their credit needs in response, banks with a higher share of agricultural loan activity (“ag banks”) may see demand for loans increase,” Kansas City Fed economist Francisco Scott said in a recent research report. Department of Agriculture projects a 4.5%
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LEI Close to Signaling Coming Recession
South State Correspondent
AUGUST 19, 2022
Kansas City Fed President Esther George was more moderate in her rate-hiking expectations near-term, but she did emphasize the need to raise rates until inflation eases back to its 2% target.
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Walmart Pulls Cannabis Christmas Tree From Website
PYMNTS
DECEMBER 18, 2017
Walmart, ever the buzzkill, promptly removed the tree last week — right around the time The Kansas City Star discovered the tree and ran the headline, “Walmart is selling a ‘Weed Marijuana Leaf Christmas Tree’ this season.”. Yes, for marijuana enthusiast with cash to burn, there exists in the world a 7 ft.
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