Wed.Nov 22, 2023

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Visa proposes new plan for covering litigation liability

Payments Dive

The card network’s board approved pursuing a shareholder vote on a new approach to covering potentially more than $35 billion in outstanding merchant claims against the company.

Cards 369
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Student Loan Repayment Challenges

Perficient

In March 2020, the student loan forgiveness program was initiated, providing relief to many borrowers. However, in October 2023, loan payments resumed, presenting new financial challenges. While the temporary pause was beneficial, it left numerous individuals still grappling with the task of managing their additional financial obligations. Borrowers now confront the daunting prospect of resuming loan payments alongside recurring bills and debts.

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Digital payments have increased restaurant tips. But is it backfiring?

Payments Dive

Some diners feel pressured by tipping digitally in front of employees, which can hurt restaurant traffic, but experts say there are best practices that can ease customer trepidation.

Payments 243
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Eurozone banks starting to show ‘stress’ as loan defaults rise, ECB warns

TheGuardian

Rising interest rates have boosted profitability but are likely to limit demand and increase risk of bad debts, says central bank The balance sheets of eurozone banks are showing “early signs of stress” after a rise in loan defaults and late payments by customers, the European Central Bank has warned. Higher interest rates have boosted banks’ income and profits for the time being, the ECB said, but lenders are facing pressures from higher funding costs, worsening asset quality and lower lending

Lending 134
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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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Bill beats back Melio speculation

Payments Dive

Payments software company Bill isn’t in the market for “transformational” M&A and is more likely to pursue “tuck-in technology” type purchases, President John Rettig said on Friday.

Software 221

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Plaid poaches Adyen executive for European expansion

Payments Dive

Brian Dammeir sees opportunities for Plaid’s payments business to grow in Europe, particularly in account-to-account payments, he said in a Wednesday interview.

Payments 195
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How credit union leaders are embracing chatbots, AI and other new tech

American Banker

Honorees on this year's list of the Most Powerful Women in credit unions have adopted tools powered by AI to help provide 24/7 support to members in a variety of languages, while also expanding access to vital capital for those from underserved communities.

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Safeguard Your Accounts With Multifactor Authentication

Jack Henry

Explore evolving identity verification methods for secure online protection in today's latest FinTalk Blog.

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Settlement and security in the ATM space

ATM Marketplace

There are many risks with ATM security. How can operators handle them all?

ATM 106
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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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Nvidia sees Q3 surge in demand for AI solutions

BankInovation

Chip-making behemoth Nvidia’s earnings for its fiscal third quarter were driven by a rise in data center demand, deepening relationships with cloud service providers and high demand for its GPU chips, Chief Financial Officer Colette Kress said during the company’s fiscal third quarter earnings call Tuesday. The company recorded net income of $9.

Data 68
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Wells Fargo invests in Black businesses, American Express promotes small businesses

American Banker

Wells Fargo makes a $1.5 million investment in Black entrepreneurship; America Express promotes small businesses through augmented reality; shareholders approve the Banc of California-PacWest merger; and more in the weekly banking news roundup.

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Transactions: Grasshopper SaaS clients gain Capchase funding options

BankInovation

Grasshopper Bank and startup-focused financial solutions fintech Capchase joined forces last week to offer startup funding options. Macroeconomic conditions have presented challenges for startups, Luther Liang, director of product at Grasshopper, told Bank Automation News, noting that with Capchase, the digital bank’s SaaS clients can access new funding options.

Fintech 66
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Social media platforms and police not tackling romance fraud, MPs told

TheGuardian

Women describe being groomed, abused and scammed online, in evidence to home affairs select committee Police, banks and social media platforms are failing to tackle the growing crime of romance fraud, leaving victims without justice and “banging their heads against a wall”, MPs have been told. Giving evidence to the home affairs select committee inquiry into fraud, two female victims described their experiences of being groomed, abused and scammed online.

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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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Gruenberg unlikely to resign amid FDIC workplace scandal

American Banker

While bipartisan concerns have been raised about workplace abuse at the Federal Deposit Insurance Corp., experts say Chair Martin Gruenberg is unlikely to bow to calls for his resignation in part to protect the agency's regulatory agenda. But that could change if those calls become more stringent and bipartisan.

FDIC 62
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Government may sell UK’s remaining stake in NatWest to public, says Jeremy Hunt

TheGuardian

British government still owns 38.6% of the high street bank it bailed out in the 2008 financial crisis Business live – latest updates The UK government will explore options for selling off its remaining 38.6% stake in the high street lender NatWest Group to the public within a year, bringing it back to full private ownership, Jeremy Hunt has announced.

Groups 59
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BBVA Switzerland expands partnership with Metaco

The Paypers

BBVA Switzerland has announced that it expanded its partnership with cryptocurrency custody and blockchain services provider Metaco to solidify its position in the digital asset sector.

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Fintechs lost their edge in consumer lending in 2023: Fed report

American Banker

Record-high rates and the questionable future of credit performance put pressure on fintechs whose bread and butter was lending to low- and moderate-income folks.

Lending 53
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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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Flagright partners with Sciopay

The Paypers

Flagright has partnered with UK-based payment institution Sciopay to optimise the latter’s security measures for cross-border payments and foreign exchange management.

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Why fewer women are leading large U.S. banks

American Banker

The number of women CEOs at top-50 banks will soon fall to one with the departure of Kelly Coffey from the top job at City National Bank. The recent trend line shines a light on the industry's shallow bench of women in C-suite roles.

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Maisons du Monde integrates Mangopay

The Paypers

Payment infrastructure provider Mangopay has announced that Maisons du Monde integrated its solutions to provide simplified payment experiences to marketplace customers.

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How credit unions are speeding up merchant-funded rewards

American Banker

The instant-payments environment is encouraging more consumers to participate in rewards through checking accounts, earning them a cash-back bonus or a discount that gets funded faster than interchange-based rewards.

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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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Temu supports customers in identifying scam sites

The Paypers

Online marketplace Temu has announced that it supports its customers in identifying and reporting scam websites and apps that impersonate the ecommerce platform.

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Canada plans for open banking, Mastercard expands in Asia

American Banker

Canada's government is preparing legislation to promote open banking development, Mastercard has gained approval to process payments in China, and more.

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Envestnet|Yodlee partners with Centrix

The Paypers

Envestnet|Yodlee has partnered with New Zealand-based credit bureau Centrix in order to provide it with live bank data feeds in readiness for Open Banking.

Data 41
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A State of Gratitude [VIDEO]

The Emmerich Group

This Thanksgiving, I give thanks for you. And I hope that you’re in a state of gratitude. Gratitude is the filter with which we take in life. At every moment in time, things could be a whole lot worse. And that’s what gratitude is–seeing the good things. I constantly remind my team about when I Continue Reading The post A State of Gratitude [VIDEO] appeared first on Emmerich Financial.

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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.