Tue.Apr 16, 2024

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Can embedded finance solve one of payments’ biggest problems?

Payments Dive

As crucial as it is to focus on your core business, today’s merchants demand a broader range of services from their providers. Can embedded finance help solve this core competency problem?

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Why Optionality Is Key to Digital Banking

Jack Henry

In the rapidly evolving landscape of the financial services, digital banking has reshaped the way individuals and businesses manage their finances. One of the key elements driving the success of digital banking services is the idea of optionality and making it easy to find banking features or products.

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Steak ‘n Shake installs facial recognition at self-ordering kiosks

Payments Dive

The chain first tested the technology that lets customers pay using their face in October, and began deploying it in January.

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New Hampshire credit union hopes gift cards will give it an edge

American Banker

Bellwether Community Credit Union's partnership with the New York ad tech firm Prizeout is working to build out gift card programs and generate added sources of non-interest income.

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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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CFPB notes ‘growing financialization’ of medical, rental payments

Payments Dive

The bureau has received about 15,000 complaints in the last two years concerning medical debt collectors according to general counsel Seth Frotman.

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More Trending

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CFPB’s new late fee cap charts ‘a better way,’ says Sunbit CEO

Payments Dive

“The credit card industry should take a page from innovators, instead of relying on yesterday’s fee models,” argues the CEO of the payment tools provider.

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Amid probes, Morgan Stanley vows not to change its wealth strategy

American Banker

Morgan Stanley CEO Ted Pick downplayed the importance of government investigations into potential money laundering issues involving wealth management clients. "We've been focused on our client on-boarding and monitoring processes for a good while," he said.

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Bank of America’s digital offerings draw more users

BankInovation

Bank of America’s digital offerings continue to be a draw, as its virtual assistant Erica reached 2 billion user interactions in the first quarter.

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Unrelenting interest income pressure weighs down PNC's earnings

American Banker

The Pittsburgh-based regional bank also emphasized expense control for the first quarter and throughout 2024 as it manages credit quality vulnerabilities and higher charge-offs, particularly among office loans.

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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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Morgan Stanley to deploy tech for M&A

BankInovation

Morgan Stanley is looking to the strong merger and acquisition market as an opportunity to launch tech-driven tools that help its bankers and advisers make decisions.

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Inside FIS' use of AI to weed out false-positive card fraud alerts

American Banker

When its broad-spectrum payment card fraud-detection filters generated too many false alarms, FIS implemented AI to help banks prioritize which types of fraud to investigate first, in part by muting lower-risk notifications.

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Nubank to introduce its mobile operator services

The Paypers

Brazil-based financial services platform Nubank has announced its plans to go beyond providing banking services and launch its own mobile phone operator company.

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New details on rush of Home Loan bank borrowings at three failed banks

American Banker

The Federal Home Loan Bank System stepped up advances by 37% or more to Silicon Valley, Signature and First Republic banks ahead of their failures, the GAO says in a post-mortem on last year's banking crisis. The findings add to the debate about whether the system should be a lender of last resort.

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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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Mastercard partners with VoPay

The Paypers

Mastercard has partnered with Canadian fintech VoPay in order to provide customers with the possibility to move money quickly and securely with Mastercard Move.

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Warren, Blumenthal press OCC on NYCB-Flagstar deal approval

American Banker

Sens. Elizabeth Warren, D-Mass., and Richard Blumenthal, D-Conn., detailed how New York Community Bank grew to exceed the $100 billion threshold that triggers tougher bank requirements and set the bank on a path to market turmoil via a series of deals that were approved, in part, by the Office of the Comptroller of the Currency.

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Tencent augments payment experience for China visitors

The Paypers

Tencent has streamlined WeChat account registration and card linking to Weixin Pay for international visitors to China to enhance their payment experience.

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Q&A: Andy Barr pitches an 'America First' meets 'Chamber of Commerce' HFSC

American Banker

Rep. Andy Barr, R-Ky., is running to lead his caucus in the House Financial Services Committee and says he has the skills to meld traditional and insurgent wings of the party.

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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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UK Finance proceeds with RLN experimentation phase

The Paypers

Financial services provider UK Finance has announced its plans to work on an additional UK Regulated Liability Network (RLN) experimentation phase with eleven of its members.

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Barclays, Citi are among banks testing tokenized deposits in U.K.

American Banker

Industry body UK Finance is expanding its pilot of an experimental shared ledger to track banking payments, hoping to join some of the dots in the nascent world of digital assets.

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RBI to issue an additional licence framework

The Paypers

The Reserve Bank of India (RBI) has planned to issue an additional licence category for point of sale (POS) businesses in a bid to improve the offline payments ecosystem.

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Bank of America tops estimates as traders notch best quarter in decade

American Banker

Bank of America and other banks' balance sheets have remained resilient despite higher interest rates, though uncertainties remain, including inflation and attacks in the Middle East.

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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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German bank LBBW to offer crypto custody services with Bitpanda

The Paypers

German federal bank Landesbank Baden-Württemberg (LBBW) has set to offer crypto custody services through a partnership with Austria-based exchange platform Bitpanda.

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RBC is expanding its U.S. business with a cash-management offering

American Banker

The Toronto-based bank has spent the last two years gathering client input and building a platform for customers to manage the flow of payments and receivables, pay taxes in the most efficient jurisdictions, balance currency risks and more.

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Zopa to file for an IPO

The Paypers

UK digital bank Zopa has announced its focus on filing for an Initial Public Offering (IPO), aiming to offer current accounts to existing customers by the end of 2024.

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PNC invests in retail banking technology platform

BankInovation

PNC Financial worked to expand to new markets and grow its digital platforms in the first quarter.

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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.