Fri.Nov 17, 2023

article thumbnail

Fed's Barr says FedNow will complement the private RTP network

American Banker

Speaking at an event hosted by The Clearing House, the Federal Reserve's vice chair for supervision said he expects both instant payment processing systems to be widely adopted over time.

System 41
article thumbnail

Visa warns consumers about holiday fraud

Payments Dive

Better spelling on fake merchant sites and more advanced card skimmers are among the latest schemes that will be deployed by fraudsters during the year-end holiday shopping season.

Fraud 435
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Retail Deposits: Analyzing Deposit Stickiness in the Current Interest Rate Environment

Perficient

In our previous article, “ Transaction Accounts: Analyzing Deposit Stickiness in the Current Interest Rate Environment ,” Perficient’s Financial Services Risk Management and Regulatory Capabilities Center of Excellence (CoE) explored the sharp decline in transaction account balances over an 18-month period. Now, we will delve into the stability of retail deposits from the same bank over the same timeframe, determining whether they were resilient compared to transaction accounts.

Retail 221
article thumbnail

Fiserv doubles down on Clover growth

Payments Dive

CEO Frank Bisignano is betting on accelerated growth of Clover’s small business point-of-sale services, even as he admitted to being “paranoid” in the highly competitive market.

Marketing 397
article thumbnail

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.

article thumbnail

For faster loan origination, stop doing this

Abrigo

How to close more loans by speeding up lending and credit analysis Seeking a quicker loan origination workflow is worth it. Learn where to find opportunities for improvement. You might also like this on-demand webinar on the red flags of emerging CRE risk. WATCH Takeaway 1 A critical look at the existing steps for loan requests and credit underwriting helps uncover ways to offer faster loan decisions.

Lending 221

More Trending

article thumbnail

The true cost of fraud

Abrigo

Measuring the cost of fraud losses. The true cost of fraud goes beyond the initial reported fraud losses Would you like other articles like this in your inbox? Takeaway 1 Fraud scams made worse by the pandemic continue to be successful, while crypto-scams are emerging. Takeaway 2 A worsening economy increases the fundamentals of fraud, pressure, opportunity, and rationalization.

Fraud 195
article thumbnail

Change the Game With New Ideas and Exciting Possibilities: Reflecting on 2023’s Jack Henry™ Connect

Jack Henry

Dive into fintech revelations from Jack Henry Connect! From Jack Henry Platform to Financial Crimes Defender and FedNow insights. Shape banking's future.

Fintech 122
article thumbnail

Authentic experiences: How your brand can reach Gen Z for success and customer loyalty

ATM Marketplace

The APC Gen Z study found that Gen Z has five top demands from businesses and brands: 1. Authenticity. 2. PhysiDigital. 3. Experiential. 4. Custom. 5. Rewards.

Branding 119
article thumbnail

Early cracks start to show in banks' commercial loans

American Banker

Credit problems in business loans have risen in recent months, as companies that are in a weak financial position have started closing up shop. The difficulty in gauging which banks will face the most trouble is prompting many investors to stay away from the sector.

Company 85
article thumbnail

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

article thumbnail

ATM, Self-Service Software guide offers exclusive information on industry

ATM Marketplace

The 2023 ATM and Self-service Software Trends Guide delivers in-depth research based on interviews and survey data from financial institutions worldwide on how they are utilizing ATMs.

ATM 83
article thumbnail

UK savers urged to act quickly for best returns as rates drop

TheGuardian

NS&I, Shawbrook and Tandem among providers to make reductions amid flurry of such moves Savers have been urged to act quickly if they want to get the best returns on their money after a flurry of interest rate cuts on top-paying accounts. This week NS&I reduced the rate it offers on its three-year green bonds from 5.7% to 3.95%, while Shawbrook, Tandem and Ford Money were among other providers making cuts.

80
article thumbnail

Fintech funding: Mega rounds increase 50% QoQ

BankInovation

Global fintech funding dropped marginally in the third quarter sequentially, but deals worth more than $100 million substantially increased as funding remained below 2019 levels. As global fintech funding reached $7.4 billion in Q3, it was down 46% year over year, according to CB Insights’ State of Fintech Q3 report published last month.

Fintech 63
article thumbnail

UK mortgage arrears rise as borrowers feel squeeze, says Nationwide

TheGuardian

Building society benefits from high interest rates, with half-year profits increasing to £1.3bn Nationwide has warned that mortgage arrears are rising as the building society reported increased profits on the back of higher interest rates. Higher borrowing costs after the Bank of England raised interest rates 14 times since the end of 2021 have caused financial pain for some mortgage holders while benefiting savers.

Report 68
article thumbnail

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

article thumbnail

D.L. Evans Bank saves $1M with Laserfiche automation

BankInovation

D.L. Evans Bank has been working with and expanding the use of software company Laserfiche capabilities for 25 years, resulting in paper, monetary and time savings throughout the bank. Through the tech provider, the $3.

Idaho 61
article thumbnail

OpenAI ousts Sam Altman; Chase discloses carbon emissions

American Banker

A convicted Goldman executive seeks to lower his legal bills, OpenAI's board has ousted its founder and CEO and several bank leaders are taking on new roles, and more in the weekly banking news roundup.

article thumbnail

Apple reveals a new Apple Pay account balance feature for UK clients

The Paypers

Apple has revealed a new Apple Pay account balance feature that allows UK-based customers to access information such as balance and spending history.

Apple 73
article thumbnail

Is your ATM running? AI can catch it (if it's not).

American Banker

Diebold Nixdorf is using artificial intelligence to spot trouble proactively — a move that has already increased ATM uptime by up to 3.5%.

ATM 69
article thumbnail

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.

article thumbnail

Afterpay collaborates with Rokt to enhance its advertising business

The Paypers

Australia-based BNPL provider Afterpay has partnered with ecommerce tech company Rokt to offer shoppers more relevant ecommerce experiences.

Company 68
article thumbnail

Blue Ridge Bank begins offboarding at least a dozen fintech partners

American Banker

The banking-as-a-service pioneer has been reeling from the business since an enforcement action from a federal regulator last year.

Fintech 50
article thumbnail

Capchase partners with Grasshopper bank

The Paypers

US-based Grasshopper Bank has partnered with Capchase to enable its SaaS clients with access to the latter’s funding options.

US 68
article thumbnail

Hacker chutzpah: Ransomware group says it reported victim to SEC

American Banker

The cybercriminals said a new SEC rule required loan software company MeridianLink to report last week's breach, but the rule does not take effect until next month.

Report 41
article thumbnail

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.

article thumbnail

Plinqit partners with Bankjoy

The Paypers

Plinqit has partnered with Bankjoy , a digital banking provider across the US, to help financial institutions grow deposits and promote healthy saving habits.

article thumbnail

House Republicans open investigation into FDIC chairman

American Banker

Three GOP leaders of the House Financial Services Committee, including Chairman Patrick McHenry, say they'll explore possible connections between the agency's alleged "toxic" work culture and its staffing shortages that may have contributed to this year's banking crisis.

FDIC 36
article thumbnail

Nuvei partners with Nayax

The Paypers

Fintech company Nuvei has partnered with Nayax to enable Circle K and Couche-Tard to accept cashless payments at their EV charging points in Canada.

Fintech 41
article thumbnail

Big banks will pay higher-than-expected deposit insurance fee

American Banker

The Federal Deposit Insurance Corp. has finalized a special assessment that is slightly pricier than originally proposed for banks with uninsured deposits of more than $5 billion. Trade groups voiced concerns that the largest banks are paying to clean up a mess created by regional banks.

article thumbnail

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.