Bank Innovation

APRIL 16, 2020

In the race for wealth assets, current bank wealth group behavior suggests that large accounts matter, while small accounts aren’t worth the effort to cultivate. By definition, big accounts have large balances, which in turn yield rich fees. On the surface, this makes sense. That math is simple and compelling.

Groups 259

Groups Fintech 259

Perficient

FEBRUARY 2, 2021

When the customer bank account is created or updated via the user interface, the system defaults the start date to the current system date. The same situation happens with the “From Assignment Date” field in the customer site bank account assignment record, and both fields are not updateable from the UI. externalBankAccounts.

Resources 340

Resources System Examples Data 340

South State Correspondent

APRIL 23, 2023

Fair Value versus Amortized Cost The amortized cost of assets is the accounting treatment applied to securities known as held-to-maturity, or HTM. However, fair value accounting can make the economic reality of the bank clear to regulators, investors, and managers alike. That will be a discussion for a future article.

Management 195

Management Security Risk Management social media 195

South State Correspondent

APRIL 10, 2023

Fair value accounting measures assets and liabilities at current market value instead of historical or amortized value. Nonetheless, with the recent collapse of sizeable regional banks, regulators, investors, analysts, accountants, and bankers are now scrutinizing the fair value of banks’ securities and loan portfolios.

Community Bank 195

Community Bank Community Security Capital 195

Payments Dive

APRIL 19, 2024

Ed Neumann is joining the AR platform provider as it looks to grow by targeting companies seeking to digitize their older manual systems.

System 195

System Company 195

PYMNTS

DECEMBER 10, 2020

Increasingly, FinTechs and the businesses they serve are pulling double duty with solutions that tackle both accounts receivable and accounts payable friction for each end of the B2B transaction. Digitizing and modernizing B2B payments cannot be a one-sided effort. Wells Fargo, Bill.com Pull Double Duty With Partnership.

Cards 151

Cards Payments Fintech Company 151

American Banker

APRIL 25, 2024

The state's comptroller of public accounts is one of several notable non-depositories with access to the Fed's payments system, along with the Chicago Mercantile Exchange and the Tennessee Valley Authority. So why do they have accounts while some neobanks don't?

Tennessee 101

Tennessee Texas Chicago System 101

PYMNTS

OCTOBER 15, 2020

A recent hack compromised around 2,000 Robinhood Markets accounts, suggesting the attacks were more widespread than previously realized, Bloomberg reported. Some victims protested, saying that their accounts had been taken over, their positions liquidated and their proceeds stolen.

Report 276

Report social media Fraud Tools 276

Payments Dive

MAY 23, 2023

The move is part of PayPal’s plan to lean on Venmo to lure more users.

415

415

PYMNTS

JUNE 26, 2020

Ernst & Young ( EY ), the global accounting firm hired to verify Wirecard’s financials, failed to request crucial information from a Singapore bank where the German payment processor claimed it had up to 1 billion euros ($1.1 The big question for me is what on earth did EY do when they signed off the accounts?”

Fraud 290

Fraud Report Security Company 290

PYMNTS

AUGUST 27, 2020

Tens of thousands of stolen Fortnite accounts are being sold on the black market in a $1 billion a year trade, according to Bloomberg. It found that criminals are using automated tools to mass-check for Fortnite accounts from hordes of stolen identities from recent data breaches. Regular ones go for $200 to $250.

Marketing 289

Marketing Apple Video Fraud 289

PYMNTS

NOVEMBER 16, 2020

Fast-growing payments automation firm Transcard is rolling out an account-to-account (A2A) solution that it says will boost the speed and efficiency with which buyers and sellers are able to exchange money and data, while reducing risk as well. 16) press release issued by the Chattanooga, Tenn.

Payments 172

Payments Data Security Company 172

PYMNTS

DECEMBER 11, 2020

Manual accounts receivable (AR) processes are a headache for any administrative professional. In the accounting profession, manually having to determine the fiscal value of services provided, and creating physical documents to bill clients, is a significant use of valuable time that could otherwise be spent on driving revenue for the firm.

Customer Experience 223

Customer Experience Payments Industry Trends 223

PYMNTS

JUNE 8, 2020

United Nations global blockchain expert Massimo Buonomo has foreseen a future where digital currencies could replace low-interest bank accounts, Coindesk reports. In addition, Buonomo said digital currencies, especially central bank digital currencies (CBDC) may eventually be able to replace all bank accounts.

blockchain 338

blockchain cryptocurrency Maine National 338

PYMNTS

AUGUST 17, 2020

In a push to bring in more small business accounts, TD Bank is launching a new online payment and accounting feature on its online platform for small businesses. The new TD Online Accounting features technology developed by Detroit-based Autobooks. 17) press release.

Online 175

Online Detroit social media Tools 175

PYMNTS

NOVEMBER 19, 2020

Citi and Mastercard are teaming up as network partners for the digital checking and savings account Citi Plex on Google Pay, available for both Android and iOS. . Citi Plex account holders will receive a debit Mastercard, an auto provisioned instant digital debit card.

Google 284

Google ATM America Digital Banking 284

PYMNTS

JANUARY 11, 2021

A California man has sued Robinhood Financial and Robinhood Securities, claiming he lost thousands of dollars after his brokerage account with the firm was breeched, according to a complaint. In October, Robinhood reported hackers had obtained some customers' account information.

California 240

California Security Training Report 240

PYMNTS

JANUARY 24, 2021

Business software maker Cygnet Infotech has updated its FACE ( Financial Accounting Comprehensive and Easy ) accounting software platform, according to a published report. The new version supports accounting for multiple companies working in multiple currencies, among other aspects, the report stated.

Taxes 178

Taxes Compliance Software Fraud 178

PYMNTS

DECEMBER 16, 2020

Ternio , a global FinTech platform, has integrated with Plaid , a financial data company, to help Ternio BlockCard bank accounts access faster and more secure connections to financial accounts, according to a press release. dollars between all of their accounts.”. customers to activate their FDIC-insured BlockCard bank accounts.

cryptocurrency 267

cryptocurrency FDIC User Experience Security 267

PYMNTS

SEPTEMBER 1, 2020

Wells Fargo is launching a new, low-cost bank account — with access as well to a new digital payments service — in its latest move to push beyond a series of scandals. bank account, the bank noted in its announcement. The bank said it will also waive the $5 fee for younger account holders ages 13 to 24.

San Francisco 234

San Francisco Payments Online Meeting 234

PYMNTS

DECEMBER 22, 2020

The company will support the use of security keys on mobile devices so anyone logging into an account will need more than just a password, a Facebook official told PYMNTS. Security keys can take a variety of forms, including fobs that generate numbers that must be used alongside traditional passwords during the account login process.

social media 236

social media United States Security Mobile 236

PYMNTS

JUNE 29, 2020

As the fallout from Wirecard ’s troubles unfold, Germany’s deputy finance minister has called for radical solutions to fix how accounting firms are regulated, the Financial Times reported. Its founder and CEO Markus Braun, 51, resigned and was later arrested on charges of misrepresenting Wirecard’s accounts and market manipulation.

Regulation 222

Regulation Report Industry Company 222

CFPB Monitor

NOVEMBER 13, 2023

The Department of Education issued a “ Framework for Student Loan Servicer Oversight and Accountability to Protect Borrowers ” and indicated that “[t]he framework’s strategies help the Department to encourage servicers to better support borrowers and allows the Department to hold their feet to the fire when they have servicing failures.”.

Strategy 134

Strategy Payments 134

TheGuardian

DECEMBER 8, 2023

A charity that helps young people suffering with cancer, and another that drives elderly people to doctors’ appointments, plus scout and animal welfare groups, are among the organisations who have contacted the Guardian this week to describe how Barclays blocked their bank accounts, often cancelling all their direct debits without informing them.

Community 103

Community Groups 103

CFPB Monitor

MAY 11, 2023

The CFPB has issued a circular that addresses the reopening of closed deposit accounts (Circular 2023-02). Specifically, the circular warns that it can constitute an unfair act or practice for a financial institution to unilaterally reopen closed accounts to process debits or deposits. Continue Reading

78

78

TheGuardian

DECEMBER 4, 2023

A number of community organisations say they were left struggling after bank closed or froze accounts ‘without warning’ Some charities, churches and other community groups have described being thrown into financial disarray after Barclays shut or froze their bank accounts without warning.

Community 110

Community Groups 110

Independent Banker

OCTOBER 31, 2021

Offering the ability to open an account online can be one way to reach customers who are unable to join your community bank in person. A customer can make the decision to switch to a community bank or open their first bank account any time, any day, including outside business hours. A ‘big bang’ for digital account opening.

Idaho 134

Idaho Community Bank Community New Jersey 134

Jack Henry

MARCH 25, 2021

Now that I have thoroughly dated myself, let’s get into contra accounts. No, this has nothing to do with the Iran-Contra affair. What is a contra, and what do I need to know? I’m glad you asked.

Lending 103

Lending 103

BankInovation

MAY 6, 2022

Lithuanian account-to-account (A2A) payments fintech kevin. raised $65 million in a series A round, the company announced Tuesday. Founded in 2018, kevin. facilitates card-free payments between banks and merchants and posits itself as a “leader” in web- and app-based A2A payments in Europe, according to a release.

Fintech 98

Fintech Digital Banking Payments Cards 98

TheGuardian

OCTOBER 26, 2023

Investigation for bank finds ‘serious failings’ in handling of Coutts move and treatment of ex-Ukip leader Business live – latest updates NatWest’s decision to close Nigel Farage’s bank accounts was lawful but there were “serious failings” in how it treated the former Ukip leader, an independent review commissioned by the bank has found.

Report 111

Report Policies Groups 111