Payments Dive
JUNE 29, 2023
The food waste-reduction service worked with payments processor Forage to allow SNAP shoppers to place pickup orders for items nearing their expiration dates at participating Tops stores.
Accenture
JUNE 29, 2023
Technical debt is a well-known issue in the software world, but it is becoming increasingly top of mind for banks—particularly banks undertaking a cloud transformation. Deciding what to do about tech debt usually involves an analysis of the tradeoffs between different approaches. What is tech debt? Tech debt occurs when either: 1. Software products are… The post Can cloud help banks solve the tech debt tradeoff?
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Payments Dive
JUNE 29, 2023
DoorDash added the ability to use SNAP EBT online payments for on-demand delivery of eligible grocery items as part of numerous updates to its app.
ABA Community Banking
JUNE 29, 2023
Rep. Alex Mooney (R-W.Va.) this week introduced a bill that would raise the threshold for small bank holding companies from $3 billion to $10 billion. T The post Rep. Mooney introduces ABA-backed bill to help small banks raise capital appeared first on ABA Banking Journal.
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.
Payments Dive
JUNE 29, 2023
The partnership will make vehicle-recognition payments for fleet owners available to more retailers across the country.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Dive
JUNE 29, 2023
Visa said it has agreed to acquire the Brazilian company to provide more card issuing and banking services to fintechs and financial institutions.
CFPB Monitor
JUNE 29, 2023
The CFPB announced this week that it has entered into a consent order with ACI Worldwide Corp. and one of its subsidiaries, ACI Payments, Inc., in connection with more than 1.4 million erroneous electronic fund transfer payment instructions initiated by ACI through the ACH Network (ACH Entries). In its press release , the CFPB calls the matter its “first action addressing unlawful information handling practices in processing mortgage payments.” .
American Banker
JUNE 29, 2023
The list of 57 early adopters includes large banks like BNY Mellon, JPMorgan Chase and Wells Fargo, as well as large bank technology companies including Jack Henry, FIS and Fiserv.
CFPB Monitor
JUNE 29, 2023
The use of enforcement by the Consumer Financial Protection Bureau and other federal agencies rather than administrative rulemaking to advance novel legal theories has been widely criticized. After discussing the meaning of “regulation by enforcement,” we look at examples of the use of regulation by enforcement by the CFPB and other agencies, U.S.
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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
JUNE 29, 2023
The Federal Reserve, Federal Deposit Insurance Corp., Office of the Comptroller of the Currency and National Credit Union Administration have finalized guidance on handling troubled debt.
CFPB Monitor
JUNE 29, 2023
New York Senator James Sanders Jr. recently proposed Senate Bill 1450A (“S1450”), which would require those making or soliciting “commercial financing products” in New York State to obtain a license and comply with specified requirements. Section 363-A of proposed S1450 defines a “commercial financing product” as any advance of funds to a commercial or business enterprise made for the purpose of assisting the business with its capital needs. .
BankUnderground
JUNE 29, 2023
Kristin Forbes, Christian Friedrich and Dennis Reinhardt Recent episodes of financial stress, including the ‘dash for cash’ at the onset of the Covid-19 (Covid) pandemic, pressure in the UK’s liability-driven investment funds in 2022, and the collapse of Silicon Valley Bank in 2023, were stark reminders of the vulnerability of financial institutions to shocks that disrupt liquidity and access to funding.
American Banker
JUNE 29, 2023
The risk management firm Sardine is one of several tech providers trying to build partnerships with payment companies to thwart crooks that take advantage of the short window for instant settlement.
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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
JUNE 29, 2023
Michigan State University Federal Credit Union moved its client-facing chatbot, Fran, in front of its live chat agents in May, and the chatbot is now fielding 73% of the bank’s chat inquiries.
American Banker
JUNE 29, 2023
Under a 2-year-old program, homebuyers receive grants of up to $5,000 for down payments and closing costs. JPMorgan Chase said the latest expansion — to some new 3,000 census tracts in 16 U.S. markets — may help an additional 1,000 customers obtain mortgages.
BankInovation
JUNE 29, 2023
Citizens Bank plans to take its banking operations to the cloud by 2025. “We are going to exit all of our data centers that we own today,” Chief Information Officer Michael Ruttledge said Tuesday at Fintech Connect North America in New York.
American Banker
JUNE 29, 2023
People love the convenience of nonbanks' financial apps. Regulators could make it much safer for them to share their data with third parties.
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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
JUNE 29, 2023
Square has announced the launch of new banking and spend management solutions for US sellers, including new credit tools and features to simplify cash flow management.
American Banker
JUNE 29, 2023
The Federal Reserve's stress tests suggested that larger banks are prepared to handle a severe economic downturn, though regional banks fared somewhat worse than their big-bank counterparts. Banks are expected to start revealing their latest capital return plans on Friday.
The Paypers
JUNE 29, 2023
Mastercard has partnered with fintech Subaio to offer a solution for identifying and cancelling recurring payments made via banking applications and online services.
American Banker
JUNE 29, 2023
The technology that powers ChatGPT can sift through and even synthesize massive amounts of data, though it must overcome doubts over reliability, transparency and regulatory risk before it can be harnessed to conduct useful research.
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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
JUNE 29, 2023
US-based fintech Tern has teamed up with cross-border payment provider UniTeller to launch a cash pickup feature for cardholders remitting funds to Latin America.
American Banker
JUNE 29, 2023
Banks and credit unions are often at odds, but when it comes to fighting the Consumer Financial Protection Bureau's proposed $8 late fee cap and changes to interchange fees, they have put their differences aside.
The Paypers
JUNE 29, 2023
Travel technology company Amadeus has partnered with Emburse , a player in spend optimisation, to address the business travel demands of global enterprises.
American Banker
JUNE 29, 2023
The regional bank is expected to issue around three to five more bonds backed by its $11.5 billion loan book. Citizens earlier this month said it will halt new auto lending in partnership with dealers starting July 1.
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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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