Toast to cut 550 employees
Payments Dive
FEBRUARY 16, 2024
The company’s CEO acknowledged during an earnings call that “we grew our team too quickly in some areas,” while reporting a presence in 106,000 locations as of the end of 2023.
Payments Dive
FEBRUARY 16, 2024
The company’s CEO acknowledged during an earnings call that “we grew our team too quickly in some areas,” while reporting a presence in 106,000 locations as of the end of 2023.
Abrigo
FEBRUARY 16, 2024
Preparing your credit administration for the next cycle Financial institutions should consider these tips for maintaining an efficient credit process throughout the year. You might also like these on-demand webinars tackling common credit risk questions. WATCH Takeaway 1 Credit administration housekeeping should clean up processes that could be streamlined to save time and effort.
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Payments Dive
FEBRUARY 16, 2024
Meta said it will pass along Apple’s 30% service charge to advertisers who pay to boost the visibility of their posts on its social networks.
BankInovation
FEBRUARY 16, 2024
Bank of America is working to control the fallout following an October data breach at third-party vendor Infosys McCamish Solutions. The bank is offering the more than 57,000 affected clients a free, two-year membership to IdentityWorks, an identity protection product from Experian, according to an Infosys McCamish Solutions filing with the state of Maine.
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.
CFPB Monitor
FEBRUARY 16, 2024
The U.S. Department of Housing and Urban Development (HUD) recently issued a press release announcing a 2023 update to its Equity Action Plan. The Equity Action Plan is part of HUD’s efforts to implement President Biden’s Executive Order on “ Advancing Racial Equity and Support for Underserved Communities Through the Federal Government.”.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
American Banker
FEBRUARY 16, 2024
The bank is arguing in court with Viva founder Haris Karonis over whether it hindered the fintech's growth. The allegations strain a relationship that was already pressured by inflation and other economic factors.
ABA Community Banking
FEBRUARY 16, 2024
On the latest episode of the ABA Banking Journal Podcast, Kristiane Koontz discusses ABA's recent work on core resilience and competition, as well as the Core Platforms Committee's plans for 2024. The post Podcast: How flexible is your core? A new tool to help assess appeared first on ABA Banking Journal.
American Banker
FEBRUARY 16, 2024
Federal Reserve Vice Chair for Supervision Michael Barr said Friday Fed supervisors continue to draw on lessons learned from last March's bank failures — like the need for heightened scrutiny — in addressing risks banks currently face including firm asset growth, liquidity pressures and plummeting commercial real estate values.
TheGuardian
FEBRUARY 16, 2024
From its lavish launch parties to a 2019 accounting scandal, the UK challenger bank has been beset by controversy In early 2008, inside the Seashell fish and chip shop in Marylebone, west London, Anthony Thomson was about to make a deal. Sitting with the American billionaire Vernon Hill over cod and chips, he revealed plans to import the tycoon’s template for a US-style, consumer-focused bank to the UK.
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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
American Banker
FEBRUARY 16, 2024
The Los Angeles-based bank said that it's eliminating roles across its footprint. The job cuts follow a year in which expenses soared and losses piled up.
Bussman Advisory
FEBRUARY 16, 2024
This week’s must-know stories in the FinTech, AI and Digital Asset space: OpenAI unveils AI that instantly generates eye-popping videos Microsoft, OpenAI fighting foreign hackers utilizing ChatGPT in attacks Apple reached 12m credit card users and US$10B in savings balances Plus, 12 more exclusive stories to help you stay ahead of the curve! The latest edition of the FinTech Ecosystem Newsletter is here : J oin our Community Join our community of 52,000+ subscribers and stay informed o
American Banker
FEBRUARY 16, 2024
Call for submissions for women 40 years and younger who are rising stars at their bank or financial institution.
The Paypers
FEBRUARY 16, 2024
WLPayments , a global payment processing and orchestration platform, has integrated with Unlimit , a payment solutions provider.
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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
FEBRUARY 16, 2024
NatWest is saving on costs and improving the customer journey through technology. “Since 2021, we have delivered run rate savings of around 250 million pounds ($315 million) a year through digitizing customer journeys,” newly appointed Chief Executive Paul Thwaite said during the bank’s fourth-quarter earnings call today.
American Banker
FEBRUARY 16, 2024
Rep. Andy Barr, R-Ky., will propose legislation on Friday that would curtail the Federal Reserve's ability to slow down the bank merger process by mandating that the central bank must approve or deny applications within 90 days of receiving them.
The Paypers
FEBRUARY 16, 2024
US-based regulated digital assets institution Nexo has announced its collaboration with Sift , aiming to safeguard customers against digital risk and simplify user experience.
American Banker
FEBRUARY 16, 2024
Buying North Shore Bancorp in Peabody, Massachusetts, would give Hometown nearly $6 billion of assets and a higher profile in New England.
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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
FEBRUARY 16, 2024
US-based financial technology provider Fiserv has announced the expansion of its CheckFreePay network for in-person bill payments to NCR Atleos ’ ATM network.
American Banker
FEBRUARY 16, 2024
Community Bank System in Syracuse faced claims it failed to properly pay some branch-level employees, making it one of a growing number of banks forced to confront compensation-related disputes in recent months.
The Paypers
FEBRUARY 16, 2024
UK-based identity platform Trulioo has announced its collaboration with EQ Bank , aiming to provide the latter with identity document and biometric verification.
American Banker
FEBRUARY 16, 2024
An investor in early stage fintech startups weighs in on the breakthrough technologies that will transform the relationships between banks and fintechs.
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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.
The Paypers
FEBRUARY 16, 2024
AI-driven global payment provider and shopping assistant Klarna has launched its Sign in with Klarna product to offer clients an optimised shopping experience.
American Banker
FEBRUARY 16, 2024
Ex-State Street exec joins Citizens Financial's board, payment software firm Toast will cut workers, Visa rolls out enhanced digital wallet tools and more in the weekly banking news roundup.
The Paypers
FEBRUARY 16, 2024
Australia-based digital identity ecosystem ConnectID has announced that property management platform RentBetter has integrated its digital identity services.
American Banker
FEBRUARY 16, 2024
Amid an upturn in deposits, banks are searching for ways to put this new cash to work. The traditional option — boosting lending — is hard to do right now. That's left banks to park more money in high-quality securities that they believe will boost returns without heaping on too much credit risk.
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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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