6 payments trends to watch in 2024
Payments Dive
JANUARY 9, 2024
Swipe fee battles, real-time payments, fraud prevention and acquisition plans will be among the hot topics pulsing through the industry this year.
Tue.Jan 09, 2024
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ATM crime: How to prevent it
ATM Marketplace
JANUARY 9, 2024
Skimming, vandalism and physical attacks on ATMs, armored car and cash-in-transit (CIT) personnel, ATM technicians and other ATM crimes are all on the rise throughout the U.S. Here's how to prevent it.
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Regulator’s BNPL guidance may go beyond banks
Payments Dive
JANUARY 9, 2024
The Office of the Comptroller of the Currency directed its advice at national banks, but a Venable attorney expects others to use it to inform their approaches.
Podcast: Gen AI can provide FIs up to 90% automation
BankInovation
JANUARY 9, 2024
Financial institutions can look to generative AI to reach up to 90% automation, WorkFusion Chief Executive Adam Famularo tells Bank Automation News on this episode of “The Buzz” podcast.
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.
FTC Agrees to Settlement with Lead Generator Banning Telemarketing and Robocall Activities
CFPB Monitor
JANUARY 9, 2024
The Federal Trade Commission (FTC) recently announced a proposed order settling a Complaint against California-based lead generator Response Tree LLC and its president, Derek Doherty, banning them from making or assisting anyone in making robocalls or calls to phone numbers on the FTC’s Do Not Call (DNC) Registry. The proposed order helps settle pending FTC charges that Response Tree and its president operated more than fifty (50) websites designed to trick consumers into providing personal info
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Wisconsin Senate proposes new bill to revise money transmission, consumer lenders, collection agency and other financial services licenses
CFPB Monitor
JANUARY 9, 2024
In November 2023, S.B. 668 was introduced in the Wisconsin Senate. S.B. 668 would make sweeping changes to the state laws governing financial service providers. The bill creates a pathway for the Wisconsin Department of Financial Institutions (DFI) to expand use of the Nationwide Multistate Licensing System and Registry (NMLS) across license types, modernizes money transmission laws, and revises the regulation of consumer lenders, collection agencies, check sellers, payday lenders, community cur
Regulators will take comments on Basel III endgame impact analysis
American Banker
JANUARY 9, 2024
Federal Reserve Vice Chair for Supervision Michael Barr said feedback received will be incorporated into the final version of the capital reform rule.
Washington state “predatory loan” bills propose expanded coverage, “anti-evasion” language, licensing revisions, and other amendments to Consumer Loan Act
CFPB Monitor
JANUARY 9, 2024
House Bill 1874 (H.B. 1874), denominated the “predatory loan prevention act”, was pre-filed for introduction in the Washington state legislature December 5, 2023, and referred to the House Committee on Consumer Protection and Business on January 8, 2024. H.B. 1874 is scheduled for public hearing on January 10, 2024 in the Washington House Committee on Consumer Protection & Business at 1:30 p.m.
Coinbar augments digital payments for Binance Pay
The Paypers
JANUARY 9, 2024
Italy-based crypto exchange Coinbar has entered a multi-year agreement with Binance Pay to enable the latter’s users to make crypto payments directly in stores.
Digital Transformation: Accelerating ROI and Growth in Commercial Lending
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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
Customer Success Stories – Year in Review
Cisco
JANUARY 9, 2024
Did you miss some of the great financial services customer success stories Cisco produced in 2023? These stories are a testament to clients achieving their goals with Cisco at their side.
Amazon Fashion uses AI to improve online clothing shopping
The Paypers
JANUARY 9, 2024
Amazon Fashion has announced its plans to leverage artificial intelligence (AI) to support customers who shop for clothing online to find their correct size.
Ent Credit Union's new approach to training: virtual reality
American Banker
JANUARY 9, 2024
The Colorado-based institution is overhauling its training procedures by using simulated VR experiences to prepare new member service representatives for their roles without the stress of serving live customers while supervisors watch.
Bank of America adds data insights to CashPro
BankInovation
JANUARY 9, 2024
Bank of America added data insights to its CashPro platform as corporate and commercial clients asked for real-time treasury management functionality.
The State of Automation in Financial Services 2024 Report
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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
How rising rates have hampered minority banks' quest for more deposits
American Banker
JANUARY 9, 2024
After being undercapitalized for decades, some minority-led banks finally got large capital infusions in the wake of George Floyd's murder. But higher interest rates have made it harder for them to gather the deposits they need to boost lending substantially.
A roadmap for bank leaders to build community trust
ABA Community Banking
JANUARY 9, 2024
More than ever, we must take proactive steps to ensure we are empowering our customers to overcome economic crises and access pathways to prosperity. The post A roadmap for bank leaders to build community trust appeared first on ABA Banking Journal.
Blockchain could be a transformative technology. It's just not money.
American Banker
JANUARY 9, 2024
An initiative in Baltimore to use blockchain tech to track and manage vacant properties is a prime example of how blockchain can help solve stubborn problems, even if it isn't ready to revolutionize the fundamentals of commerce.
Zebec launches its services in Japan
The Paypers
JANUARY 9, 2024
US-based fintech startup Zebec has announced the launch of its web3 payment and real-time payroll services in Japan.
Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance
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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.
Hiding consumers' medical debt from lenders is a terrible idea
American Banker
JANUARY 9, 2024
The CFPB's plan to block medical debt from appearing on credit reports will have damaging unintended consequences, limiting consumer access to both credit and health care.
The Missing Cryptoqueen
Tomorrow's Transactions
JANUARY 9, 2024
You’ve probably heard about The Missing Cryptoqueen. It was one of the best podcasts of all time, a BBC series that explored the story of Dr Ruja Ignatova, a Bulgarian-born German entrepreneur who founded a fraudulent cryptocurrency scheme known as OneCoin, which The Times has described as “one of the biggest scams in history”. Since 2017 she has… Continue reading The Missing Cryptoqueen The post The Missing Cryptoqueen first appeared on Consult Hyperion.
Mr. Cooper taps veteran banking exec as president
American Banker
JANUARY 9, 2024
Mike Weinbach, a former Wells Fargo and JPMorgan leader, will replace president Chris Marshall who's expected to retire at the end of this year.
ACE Money Transfer partners with HABIBMETRO Bank
The Paypers
JANUARY 9, 2024
UK-based fintech company ACE Money Transfer has partnered with HABIBMETRO Bank to support the use of legal channels to increase remittance inflows to Pakistan.
2024 Lending Outlook: Innovations and Evolutions in the Financial Sector
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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.
Why Elon Musk's X narrowed its focus to peer-to-peer payments
American Banker
JANUARY 9, 2024
Scrambling to generate revenue, the social media app sees P2P payments as the easiest way to offer its vast base of enrolled consumers other financial services.
AEON Bank launches its digital banking services in Malaysia
The Paypers
JANUARY 9, 2024
AEON Bank has obtained approval from the Bank Negara Malaysia and the Minister of Finance to launch its digital banking operations in the region of Malaysia.
Advisory firm launches platform for banks to sell loans quickly
American Banker
JANUARY 9, 2024
Clark Street Capital said it developed a service to pair sellers with multiple potential buyers within just two weeks. It's meant to help small lenders close deals fast while still getting the benefits of a bidding process.
BigCommerce partners with Marketplacer
The Paypers
JANUARY 9, 2024
Open SaaS ecommerce platform for B2C and B2B brands BigCommerce has partnered with Marketplacer , a tech platform for building online marketplaces to help retailers expedite growth.
Top 10 Benefits of Automating Loan Modifications for Commercial Lenders
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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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