Wed.Dec 13, 2023

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Credit Card Chronicles: A Comedy of Errors and How to Avoid the Sequel!

BankBazaar

Dive into the Credit Card Chronicles – a hilarious saga of mishaps! From vanishing cards at checkout to deciphering cryptic statements, join the laughter and learn savvy tips to dodge financial drama in the New Year. Navigate online shopping rabbit holes, dining dilemmas and the credit limit tightrope with wit. Your financial journey deserves a comedy, not a tragedy!

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Google Pay taps Affirm, Zip for BNPL

Payments Dive

The tech giant has linked with the buy now, pay later companies to develop installment payment options to be offered next year.

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How QT will Impact Cost of Funding in 2024

South State Correspondent

Most market participants are focused on just one monetary policy tool available to the Fed – short-term, federal funds rates. However, the other critical monetary instruments available to the Fed are quantitative easing and tightening (QE and QT, respectively). While the Fed’s current actions on QT have been deemed long-term, slow-moving, and compared to watching paint dry, after years of QT, the impact is real and is affecting money supply and bank’s cost of funding (COF).

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FedNow may have spurred RTP adoption

Payments Dive

The number of banks participating in The Clearing House’s real-time payments network surged this year after the launch of the rival FedNow system.

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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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Gen AI to enhance software development, Mastercard exec says

BankInovation

Financial institutions are looking to generative AI for software development, chatbots and operational efficiencies, and more AI applications are expected to surface in 2024. Gen AI for software development, for one, is expected to be “transformational” in the financial services industry, according to Mastercard’s “Generative AI: The transformation of banking” report, released Dec. 4.

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New Year's Predictions: Marketing, PR and Fintech in 2024

William Mills

The fintech and financial services industries continue to show resilience, and we eagerly anticipate another year marked by innovation and productivity. As we work on our annual Bankers as Buyers report , which highlights predictions and trends for the financial services industry, we were inspired to make a few of our own. WMA team members weigh in on their 2024 fintech, marketing and PR predictions.

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CaixaBank forms gen AI team, Ripple rebrands cross-border payments

American Banker

CaixaBank assembled a team of more than 100 people focused on generative artificial intelligence products, Ripple changed the name of RippleNet to Ripple Payments, and more.

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ClutchBet partners with Pavilion Payments

The Paypers

Omnichannel payments provider Pavilion Payments has announced its partnership with ClutchBet in order to integrate instant payments to the latter’s customers.

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Three reasons why investors — and the financial system — should watch crypto in 2024

American Banker

Several factors are combining that make it more likely bitcoin and other cryptocurrencies will become mainstream assets in 2024.

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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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Amid record market close, ABA rings closing bell at Nasdaq

ABA Community Banking

ABA marked the 20th anniversary of the ABA Nasdaq Community Bank Index (ABAQ) by ringing the closing bell at the Nasdaq MarketSite in New York City. The post Amid record market close, ABA rings closing bell at Nasdaq appeared first on ABA Banking Journal.

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Orrstown Financial buying Pennsylvania rival Codorus for $207M

American Banker

The acquisition would deepen Orrstown's presence in its home state and Maryland. Codorus Valley Bancorp in recent years had faced pressure from an activist investor to consider selling.

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InbestMe partners with Onfido

The Paypers

Onfido has partnered with InbestMe , a digital investment platform offering personalised investment strategies, to automate the latter's onboarding process.

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Upgrade says its secured card has trifecta of differentiators

American Banker

The fintech is the second in two months to launch a secured credit card. Upgrade's version will offer up to 3% cash back and elevate users to the unsecured version over time.

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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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Transactions: Citi TTS taps Icon Solutions for payments platform

BankInovation

Citi Treasury and Trade Solutions invested in payments fintech Icon Solutions last week to modernize its core payments capabilities and expand its payments offerings. Citi TTS, the global banking arm of the $1.

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Truist lures new chief legal officer from Ally Financial

American Banker

Scott Stengel, who has been Ally's general counsel since 2016, will succeed Ellen Fitzsimmons, who is retiring after four years as head of legal affairs at Truist.

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Sift unveils workflow simulation for automated fraud defence

The Paypers

US-based fraud detection provider Sift has launched Workflow Simulation to drive automated fraud performance with insights gained from simulating a working environment.

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FICO creating credit scores for Ukrainian refugees

American Banker

Banks in Poland will be the first to start receiving and using the scores, which will allow Ukrainians fleeing their country to obtain credit in their new Polish homes.

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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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JustiFi and Verifone partner to offer Unified Card-Present solution

The Paypers

US-based fintech JustiFi has partnered with Verifone to introduce a Unified Card-Present solution, so that platforms can easily integrate payments for their customers.

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Powell says Fed will stay the course on quantitative tightening

American Banker

The Federal Reserve has allowed more than $1 trillion of assets to roll off its balance sheet. Chair Jerome Powell says he doesn't believe reserves in the banking system are nearing a level that would cause the Fed to slow down or stop.

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Affirm partners with Blackhawk Network

The Paypers

US-based payments network Affirm has partnered with branded payments provider Blackhawk Network (BHN) to provide consumers with flexibility for purchasing gift cards.

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Citigroup offers partial early bonuses to encourage staff departures

American Banker

The New York-based lender has already cut more than 300 senior management roles as part of a revamp. Those are part of a wider staff cull that is expected to continue into 2024.

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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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FutureBank partners with Paymentology

The Paypers

Embedded Finance platform FutureBank has partnered with Paymentology to offer banks and fintechs simplified integration to card issuing and processing services.

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U.K. proposes capping some Visa, Mastercard fees

American Banker

Regulators in the U.K. are weighing a cap on some of the fees that Visa and Mastercard charge local merchants for each card transaction, seeking to rein in charges that have risen fivefold since Brexit.

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Sage to offer AccessPay for augmented reconciliation processes

The Paypers

UK-based corporate-to-bank integration provider AccessPay has become a Sage Recommended Solution, increasing frequency and accuracy of reconciliation processes.

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When to Use Positive vs. Negative Emotional Appeals

Image Works Direct

Most human decisions are based on emotion, not logic.

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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.