Payments players react to debit cap cut
Payments Dive
OCTOBER 31, 2023
The CEOs of Mastercard and Global Payments chimed in with opposing views of the Federal Reserve Board’s proposal to lower the cap on debit interchange.
Payments Dive
OCTOBER 31, 2023
The CEOs of Mastercard and Global Payments chimed in with opposing views of the Federal Reserve Board’s proposal to lower the cap on debit interchange.
Accenture
OCTOBER 31, 2023
PSD2 helped drive electronic payment and data-sharing volumes while enhancing security. So why is the EU proposing to enhance it with the new Payment Services Directive 3 (PSD3) and Payment Services Regulations (PSR) package, and what does this entail? 1) Gaps in the regulatory application of PSD2. The new framework will create a consistent regulatory environment… The post EU future-proofs its payments and Open Banking ecosystem with PSD appeared first on Accenture Banking Blog.
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Payments Dive
OCTOBER 31, 2023
Sens. Dick Durbin and Roger Marshall, who have introduced legislation to spur credit card competition, called on federal regulators to investigate card frequent flyer program abuses.
South State Correspondent
OCTOBER 31, 2023
Last week, we discussed how and why commercial lenders use a bank loan proposal letter (aka commitment letters) to their advantage ( HERE ). We argued that a proper strategy and a well-crafted loan proposal letter could help lenders close loans quicker, eliminate more competitors, secure better pricing, and obtain the desired credit structure. In this article, we discuss the top four mistakes that we see in commitment/proposal letters.
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.
ATM Marketplace
OCTOBER 31, 2023
Digital banking is important, but branches also have a role to play. A panel at the Bank Customer Experience Summit in Charlotte, North Carolina took a look at what's new in branch design.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
CFPB Monitor
OCTOBER 31, 2023
The Federal Trade Commission and Wisconsin Attorney General have entered into settlements with a group of auto dealerships, their current and former corporate owners, and their general manager for allegedly engaging in unlawful discrimination in connection with financing offered to customers and for allegedly engaging in deceptive practices in connection with the sale of add-on products. .
American Banker
OCTOBER 31, 2023
The president directed government agencies to frame new rules on protecting privacy and security, preventing intellectual property theft, reducing bias and more in banks' use of AI models.
TheGuardian
OCTOBER 31, 2023
Alfa Bank founder Alexey Kuzmichev was sanctioned by EU for ‘well-established ties’ to Vladimir Putin Police in France have detained the Russian tycoon Alexey Kuzmichev and raided two of his properties in connection with alleged tax evasion, money laundering and sanctions violations. The French financial prosecutor’s office said on Tuesday that searches had taken place a day earlier at Kuzmichev’s Paris home and an estate in in the Mediterranean Var region.
American Banker
OCTOBER 31, 2023
The Electronic Payments Coalition said that Sens. Dick Durbin and Roger Marshall are retaliating against the airline industry, which has been critical of their credit-card swipe-fee legislation. The two senators have called for an investigation of airlines in connection with purportedly unfair practices in their loyalty programs.
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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
The Paypers
OCTOBER 31, 2023
Germany-based financial institution Deutsche Bank has announced the closing of multiple Postbank branches, in order to improve digital services after its mismanaged IT migration.
American Banker
OCTOBER 31, 2023
As the holiday shopping season approaches, late payments on credit cards have surpassed their pre-pandemic levels, according to a new VantageScore report. The consumers showing signs of deterioration include not only subprime borrowers, but also those with prime credit scores.
BankInovation
OCTOBER 31, 2023
LAS VEGAS — BECU automates more than half of its underwriting operations as it balances AI with manual processes. The Tukwila, Wash.-based credit union’s automation rates hover between 60% and 70%, Jayson Amandus, vice president of indirect lending, said Monday at Auto Finance Summit 2023.
American Banker
OCTOBER 31, 2023
Almost a year since FTX's implosion set a minor banking crisis in motion, neither Congress nor regulators seem to be anywhere close to issuing comprehensive rules for the crypto road. That's a missed opportunity, and states are likely to fill the void.
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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
BankInovation
OCTOBER 31, 2023
Financial institutions (FIs) are in a tough position. They need to deliver customer service excellence while call volumes are up and call center staffing remains a challenge. Customers and members expect real-time engagement at their point of need, but traditional phone systems often provide limited functionality.
American Banker
OCTOBER 31, 2023
The tech billionaire wants the former Twitter's users to manage all of their finances on the site — the sooner, the better.
TheGuardian
OCTOBER 31, 2023
Regulator figures show huge differences in banks’ treatment of fraud victims, from 94% of claims refunded by TSB to 6% at Monzo The shocking disparity in the way the banks refund fraud victims has been laid bare in figures that show TSB refunded 94% of customer fraud claims in full last year, while for Monzo the figure was just 6%. According to the data, published on Tuesday by the Payments System Regulator (PSR), TSB was the standout bank in terms of refunding victims of authorised push payment
BankInovation
OCTOBER 31, 2023
LAS VEGAS — Online car-leasing platform Rodo is looking to Google’s Bard for an AI-powered vehicle product. Rather than focusing on maintenance-driven technology, Rodo is working on “forward thinking technologies,” Nathan Hecht, founder and chief executive at Rodo, said at Auto Finance Summit 2023 on Monday, noting, “For us, it’s always technology first and foremost.
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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.
The Paypers
OCTOBER 31, 2023
Global payment orchestration platform FinMont has announced it will incorporate the Web3 infrastructure Camino Network by Chain4Travel.
BankInovation
OCTOBER 31, 2023
Financial services company Morgan Stanley appointed Ted Pick as its new chief executive Wednesday. Effective Jan. 1, 2024, Pick replaces James Gorman, who has helmed the $1.1 trillion financial institution since 2010, according to an Oct. 25 Morgan Stanley release.
Qudos Bank
OCTOBER 31, 2023
If you’re looking for a low-risk investment, then you may want to consider putting your money into a Term Deposit. A Term Deposit could help you achieve your savings goals. In exchange for locking your money away with a bank for a set period of time, you could obtain a competitive fixed interest rate. If you’re considering placing your money into a Term Deposit, then it’s important to weigh up your options, so you can make an informed decision.
The Paypers
OCTOBER 31, 2023
US-based Omnicom has acquired Flywheel Digital for USD 835 million, to broaden its reach and expand into the digital commerce and retail media sectors.
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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.
Qudos Bank
OCTOBER 31, 2023
Buying new furniture and appliances can certainly improve your enjoyment of your home. However, buying new furniture and whitegoods can really add up, especially if you’re trying to replace multiple items at once. Saving to make these upgrades can be intimidating — but it doesn’t have to be. We’ve collated some of our favourite tips to help you work towards your next big purchase.
The Paypers
OCTOBER 31, 2023
Virgin Atlantic has tapped payment provider Elavon ’s acquiring services and Multi-Currency Conversion (MCC), allowing merchants to settle in one of 100 currencies.
Qudos Bank
OCTOBER 31, 2023
When it comes to childproofing your home, every precaution counts. Children are naturally curious and love to explore, though this could expose them to potential hazards. From your kitchen to their nursery, it’s important to grasp and apply effective safety measures. We’ve provided a detailed guide to help you create a safe environment for your children, as well as offering valuable insights if you’re planning on choosing your next home to support your growing family.
The Paypers
OCTOBER 31, 2023
Barclays has launched Demo Directory, a free online solution for founders to showcase their business potential investors, raise capital, and accelerate growth in the UK.
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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.
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