Gonzobanker

JANUARY 18, 2024

Having complained in a recent post on LinkedIn that a lot of the predictions I see are nonsense, you may think I’m crazy for posting my own set of predictions for 2024. You’re probably right. That said, here are my banking and fintech predictions for 2024: 1. A big(ger) bank will acquire a BaaS bank. A sneak peek into Cornerstone Advisors’ forthcoming What’s Going On In Banking study shows that the percentage of banks looking to get into the banking as a service (BaaS) space is down from previou

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Payments Dive

JANUARY 18, 2024

The Federal Reserve is building up bank participation in FedNow, but some big financial institutions remain on the sidelines.

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TheGuardian

JANUARY 18, 2024

Lenders forecast biggest quarterly increase in missed repayments on credit cards and loans since 2009 Business live – latest updates Britain’s biggest high street lenders expect the sharpest rise in defaults on unsecured lending since 2009, according to a Bank of England survey , as households come under growing pressure amid the cost of living crisis.

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Payments Dive

JANUARY 18, 2024

Conditions could be ripe for more payments deals in 2024, as legacy players seek to add unique technologies and struggling startups find themselves in need of an exit plan.

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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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BankInovation

JANUARY 18, 2024

Truist Financial is simplifying its operations through ongoing restructuring efforts, affecting headcount, footprint and innovation. Costs associated with the restructuring are expected to reach $225 million, or more than 30% of the bank’s savings goal of $750 million for the year, Chief Financial Officer Mike Maguire said today during Truist’s fourth-quarter 2023 earnings call.

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BankInovation

JANUARY 18, 2024

KeyBank prioritized its investment in technology during the fourth quarter as it looks to build the bank’s franchise to ensure competitiveness. “Our first investments are always going to be good clients and our people.

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Payments Dive

JANUARY 18, 2024

“Epic will contest Apple's bad-faith compliance plan in District Court,” Epic Games CEO Tim Sweeney said in a Tuesday post on X, formerly Twitter.

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American Banker

JANUARY 18, 2024

Despite a surge in quarterly expenses in the fourth quarter and a projected uptick in the first quarter, the North Carolina company is standing by its expense guidance for 2024.

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BankInovation

JANUARY 18, 2024

Discover Financial Services invested in its integrated digital banking model, risk management, analytics and compliance initiatives in 2023 and expects to continue those efforts this year.

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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

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American Banker

JANUARY 18, 2024

Opponents of the proposed capital rule offer many arguments as to why it will be a disaster. The trouble is, they're all wrong.

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Bussman Advisory

JANUARY 18, 2024

This week’s must-know stories in the FinTech, AI and Digital Asset space: Vodafone strikes $1.5 billion cloud and GenAI deal with Microsoft Generative AI dominates Davos discussions as companies focus on accuracy JPMorgan faces rising number of hacking attempts Plus, 9 more exclusive stories to help you stay ahead of the curve! The latest edition of the FinTech Ecosystem Newsletter is here : Join our Community Join our community of 52,000+ subscribers and stay informed on the latest tr

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ABA Community Banking

JANUARY 18, 2024

The Federal Reserve announced the members of the Community Depository Institutions Advisory Council for 2024, including the new council president and vice president. The post 2024 Community Depository Institutions Advisory Council Members announced appeared first on ABA Banking Journal.

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TheGuardian

JANUARY 18, 2024

Company exploring options as it plans to shift focus back to food and retail, rather than services Sainsbury’s Bank has opened the door to fresh takeover offers, after the supermarket group announced it would exit the banking business nearly 27 years after its launch. The company is exploring a number of options for its bank – which offers savings accounts, credit cards, travel money and insurance – after a strategic review suggested it could be a distraction from a years-long overhaul, meant to

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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

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American Banker

JANUARY 18, 2024

Fourth-quarter net income at the Buffalo, New York, bank fell 37% because of higher funding costs and a special deposit insurance assessment. But lower interest rates and a stronger economy are expected to strengthen profits this year and into 2025, its CFO says.

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The Paypers

JANUARY 18, 2024

The European Union has reached a provisional deal to improve how national authorities collaborate to combat money laundering.

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American Banker

JANUARY 18, 2024

Industry Bancshares' bond portfolio is massively underwater, and one of its regulators says the company is in "troubled condition." But Industry says it was already working on fixes prior to the OCC's intervention, which it calls an "unfortunate example of regulatory overreach.

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The Paypers

JANUARY 18, 2024

US-based Synchrony has tested a browser extension that prompts users at checkout to use a Synchrony credit card and provides a virtual one for that purchase.

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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.

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American Banker

JANUARY 18, 2024

By overturning so-called "Chevron deference," the Supreme Court could compel lawmakers to be less ambiguous in their legislative language, limiting agencies' interpretative power.

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The Paypers

JANUARY 18, 2024

US-based payment processor Clearent by Xplor has launched its new mobile payment solution, Xplor Pay Mobile, allowing merchants to accept transactions worldwide.

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American Banker

JANUARY 18, 2024

The retail giants are testing the limits of what customers will allow a generative AI system to do before making a payment.

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The Paypers

JANUARY 18, 2024

Ecommerce inventory and order management software Linnworks has partnered with Lightspeed Commerce in order to provide customers with a global ePOS integration.

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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.

Lending

American Banker

JANUARY 18, 2024

The acting comptroller of the currency said regulators should give "serious consideration" to enacting a rule requiring banks to have enough assets pledged to the Federal Reserve's discount window to cover "ultra short term, acute outflows.

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The Paypers

JANUARY 18, 2024

Apple has initiated the opening of its US App Store to enable external payment options after the Supreme Court’s response to its appeal for an antitrust suit.

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The Emmerich Group

JANUARY 18, 2024

If you don’t care about premium pricing, you can stop listening right now. This is for bank executives who want to figure out how to command premium pricing despite the too-common assumption that banking is a commodity. Therefore, they cannot command premium pricing—or, at best, maybe 25 basis points more on the loan side. Well, here’s the problem with that.

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The Paypers

JANUARY 18, 2024

India-based fintech FinBox has enabled a faster digital onboarding experience for digital lender Capital Now in addition to supercharging bank statement analysis.

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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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