Wed.Mar 20, 2024

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Meta’s payment plays may pay off this year: report

Payments Dive

A partnership between tech giants Meta and Amazon “could represent the tipping point of transforming social media into a transaction platform,” Mizuho Securities analysts said in a report this week.

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Now is the time to reimagine wealth management

BankInovation

The Music is Starting to Stop Recent years have been extremely lucrative for wealth advisors; both the independents and full-freight firms. Low cost of capital, booming public markets, and a growing desire to diversify into new products are all ways wealth management firms can grow AUM and, as a result, grid payouts.

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Fed banks analyze consumer use of card promos

Payments Dive

New research from the Philadelphia and Boston Feds finds that consumers are cycling through low APR credit card offers.

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LemonadeLXP wins inaugural Demo Challenge

BankInovation

NASHVILLE, Tenn. — Digital banking service provider LemonadeLXP won the inaugural Demo Challenge at Bank Automation Summit U.S. 2024. Nine financial services technology startups showcased their latest innovations with technology leaders and executives at the March 19 event.

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Elevating Accounting Practices: The Power of Outsourcing and Automation in the Digital Age

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.

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Why bank stocks still have plenty of upside

American Banker

A key bank stock index ticked up after the Federal Reserve hinted that it could lower rates later this year. But there are still a number of economic uncertainties that are holding shareholders back.

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Citi puts pay-equity analysis on hold amid cuts to its workforce

American Banker

The megabank, which is eliminating about 5,000 jobs in a first round of restructuring, said that it's paused its annual review of racial and gender pay gaps. Citi will conduct a 2023 review sometime later this year, a source said.

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Bank of America’s CashPro Chat reaches 60% adoption

BankInovation

NASHVILLE, Tenn. — CashPro, Bank of America’s business banking platform, is seeing increased adoption as features and services are added.

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Unions are coming for bank branches. Yours could be next on the list.

American Banker

In the wake of multiple successes in 2023, the labor movement in the U.S. is continuing its efforts to expand. Recent successful union elections at Wells Fargo branches should be a wake-up call to the industry.

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EU sets deadline for Instant Payments Regulation

The Paypers

The European Council has adopted the Instant Payments Regulation, which is scheduled to come into effect in a matter of weeks.

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Digital Transformation: Accelerating ROI and Growth in Commercial Lending

Now is the time for lenders to prioritize their digital transformation initiatives in preparation for the lending rebound. Rising competition and ever-increasing customer demands for speed and efficiency are forcing financial institutions to embrace digital transformation. This shift can feel overwhelming—where do you begin? This infographic illustrates automation demands and shows you how loan document automation serves as an essential step to increase profits and provide the best lending exper

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Supply takes center stage in Washington's housing push

American Banker

Policy experts say the mix of proposals put forth by the White House could ease the nation's housing shortage, but success will be neither quick nor assured.

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An appraiser looks at 60

Realwired Appraisal Management Blog

Where are you in your life path? I hope you’re looking at life forward towards the bow (opportunity) and not the stern (regret). My birthday is today, placing me in the typical appraiser age bucket. I don’t feel that getting to the 6th floor of life is a big deal.

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Sen. Tester appeals to bankers amid political campaign

American Banker

At an American Bankers Association event, Sen. Jon Tester, D-Mont., who's up for reelection this year, said that he hopes the Durbin-Marshall credit card bill won't go anywhere and criticized the Federal Reserve's debit interchange proposal.

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Trustly partners with MoneyGram

The Paypers

Open Banking payments provider Trustly has announced its collaboration with MoneyGram , aiming to introduce cardless payments for the latter’s users across Europe.

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The State of Automation in Financial Services 2024 Report

In this report, you’ll find a comprehensive analysis of survey responses from executives at banks, credit unions, and insurance companies concerning their organization’s current and future use of automation. The report’s key insights include: Which types of automation are saving organizations the most time and money How to overcome the biggest barriers to automation implementation and adoption Why automation investments will continue to grow over the next few years How much you could save in 202

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Are U.S. banks ready for a major ACH outage?

American Banker

In a simulation exercise hosted by the Global Resilience Federation on Tuesday, banks and credit unions tested their ability to withstand an industrywide wiperware attack.

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Checkout.com partners with Bolt

The Paypers

Global payment solutions provider Checkout.com has entered a collaboration with Bolt , a checkout technology company, to accelerate the advancement of ecommerce.

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ABA, Postal Inspectors in partnership to combat uptick in check fraud

American Banker

The American Bankers Association and U.S. Postal Inspection Service have launched a public awareness campaign on ways to protect checks sent in the mail.

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Figure Technologies to launch crypto exchange Figure Markets

The Paypers

US-based Figure Technologies has launched Figure Markets , a platform for trading blockchain-native assets from crypto to stocks to alternative investments.

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Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance

Commercial lending is on the verge of a resurgence, but traditional processes are an obstacle. Explore the top 3 reasons for resistance to digital transformation and how overcoming them can pave the way for growth and efficiency. Discover why embracing automation and digital solutions is crucial for success in today's competitive landscape. Discover how GoDocs helps commercial lenders in the digital era with seamless integration and a borrower-focused approach.

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Key looks to offload risk in deal with Blackstone

American Banker

The Cleveland-based regional bank is shedding credit risk in a partnership with the private equity giant Blackstone. It's the latest tie-up between asset managers and regional banks that are looking to free up balance-sheet capacity.

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SWIFT to develop new payment service

The Paypers

The Society for Worldwide Interbank Financial Telecommunication ( SWIFT ) has announced that it was selected to develop a confirmation of payee service for Australian Payments Plus.

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5 regulatory issues to watch in banking this year

American Banker

How the FDIC, the Federal Reserve and other regulators are working to keep banks in compliance through 2024.

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Tink partners with Micropayment to augment the payment experience

The Paypers

Germany-based payment processor Micropayments Tink has partnered with Sweden-based Open Banking platform Tink to add Pay by Bank to its payment offering.

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2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

As we step into 2024, the lending landscape evolves rapidly with technology, regulations, and market dynamics driving change. For banks and financial institutions to stay competitive and meet the evolving needs of their customers, these drivers must be understood and engaged with. Lenders can anticipate significant transformation fueled by technological advancements, regulatory shifts, and changing consumer behaviors.

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Organizations lost billions to fraudsters

American Banker

Companies lose an estimated 5% of their revenue each year due to fraud, according to a report from the Association of Certified Fraud Examiners.

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Trading app Robinhood withholds margin investing in the UK

The Paypers

US-based trading app Robinhood has put on hold its plan to allow margin investing to UK-based consumers until further talks with regulators, as it launches in the UK.

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McDonald's investigates payments outage, dLocal shuffles C-suite

American Banker

The fast-food chain is analyzing the cause of an issue that affected payments in multiple countries. Separately, dLocal, a payments processor in Uraguay, is making changes at the top.

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Network International partners with Mastercard

The Paypers

Network International has partnered with Mastercard to use its AI-powered Brighterion solution to protect merchants from the Middle East and Africa from fraud.

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Top 10 Benefits of Automating Loan Modifications for Commercial Lenders

Get ready for the wave of $1.2 trillion in commercial debt maturing in the next 24 months with GoDocs' ModDocs® platform. Traditional loan modifications are slow, expensive, and prone to errors, which put lenders at risk. But with ModDocs®, you can enjoy an innovative solution that eliminates attorney fees, allows on-the-fly loan modifications, and ensures compliance.