The Financial Brand
JANUARY 29, 2024
This article Fintech Funding Freeze May Thaw in 2024. But Failures May Multiply, Too appeared first on The Financial Brand. A comeback in fintech funding in 2024 may be matched by a culling of the weak. This article Fintech Funding Freeze May Thaw in 2024. But Failures May Multiply, Too appeared first on The Financial Brand.
Payments Dive
JANUARY 29, 2024
The cash advance provider “lured consumers in with false promises of free money advances,” and then made it difficult for them to cancel, FTC Director Samuel Levine said in a press release.
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CFPB Monitor
JANUARY 29, 2024
In October 2023, the Federal Reserve Board issued a proposal to lower the maximum interchange fee that a large debit card issuer can receive for a debit card transaction. The due date for comments on this proposal, originally February 12, 2024, has been extended to May 12, 2024. The Consumer Bankers Association (CBA) recently commissioned research on debit card interchange fee limits and the potential implications if the proposal to reduce debit interchange caps is finalized.
Payments Dive
JANUARY 29, 2024
The extended partnership between the two companies “focuses on co-development of new real-time payments capabilities,” a spokesperson for The Clearing House said.
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.
CFPB Monitor
JANUARY 29, 2024
In recent years, the Federal Trade Commission (FTC) has been active in enforcement and policy initiatives in a number of developing consumer financial areas. Based on its active agenda in 2023, 2024 promises to be another year of significant activity for the FTC. On February 28, 2024, from 1:30 p.m. to 2:30 p.m.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
CFPB Monitor
JANUARY 29, 2024
A bi-partisan group of House members has sent a letter to CFPB Director Chopra to express concern about the CFPB’s rule setting forth its procedures for establishing supervisory authority over nonbanks engaged in conduct that poses risk to consumers. The Dodd-Frank Act provides that the CFPB can supervise a nonbank covered person that the CFPB “has reasonable cause to determine, by order, after notice to the covered person and a reasonable opportunity for such covered person to respond.
The Paypers
JANUARY 29, 2024
A BitPay report released in 2023, has shown that XRP saw a notable increase in usage for payment transactions on BitPay, with a 42% rise in transaction volume.
CFPB Monitor
JANUARY 29, 2024
On January 24, 2024, Pennsylvania Attorney General, Michelle Henry announced a settlement with attorney Erik M. Helbing and his businesses Helbing Law, LLC, and Consumer Law Relief, LLC. (Respondents) to resolve alleged violations of the Pennsylvania Unfair Trade Practices and Consumer Protection Law (UTPCPL), the Pennsylvania Debt Settlement Services Act (DSSA), and the federal Telemarketing Sales Rule (TSR).
BankInovation
JANUARY 29, 2024
Valley Bank is looking to move all its operations to the cloud by 2026 to achieve efficiency and scalability. The $61 billion, Morristown, N.J.-based bank has between 75% and 80% of its operations on the cloud already, Chief Operations Officer Russ Barrett told Bank Automation News. Snowflake is Valley’s primary data hub provider, Barrett said.
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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
JANUARY 29, 2024
Acting Comptroller of the Currency Michael Hsu said Monday his agency is rescinding a rule that requires merger applications to be considered approved 15 days after of a comment period's closure, part of a broader effort to rethink the bank merger process.
BankInovation
JANUARY 29, 2024
The peer-to-peer payments market is growing as consumer demand ticks up and new competitors enter the space. P2P payment market size is expected to reach $6.4 billion by 2028, according to a January report by market research group The Business Research Co. In fact, 81% of banked U.S.
American Banker
JANUARY 29, 2024
Banks need to reckon with the explosive rise of legal online wagering and the addicts left in its wake.
The Paypers
JANUARY 29, 2024
Canada-based CGI has extended its partnership with the National Bank of Canada for another ten years through an extended service agreement.
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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
American Banker
JANUARY 29, 2024
Google Pay's collaboration with the country's digital transaction network is the latest example of Indian tech informing strategy elsewhere in the world, including the U.S.
The Paypers
JANUARY 29, 2024
TransUnion Hong Kong has announced the launch of its new Dark Web Monitoring identity protection service, intending to protect consumers’ identity and personal data.
American Banker
JANUARY 29, 2024
With the growing interest in generative AI, it seems inevitable that some banking jobs will change while others will be eliminated entirely.
The Paypers
JANUARY 29, 2024
Digital engineering enabler Nagarro and banking software company Temenos have signed an agreement to develop Temenos Country Model Banks in Romania and Poland.
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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.
American Banker
JANUARY 29, 2024
The recent leadership turmoil at OpenAI underscored the importance of the due diligence banks must conduct before working with a generative artificial intelligence vendor.
The Paypers
JANUARY 29, 2024
Germany-based GFT Technologies has announced its agreement to acquire Colombia-based Sophos Solutions , aiming to solidify its presence in Latin America.
American Banker
JANUARY 29, 2024
The longtime Most Powerful Women in Banking honoree looks back on her 40-year career and the power of persistence.
The Paypers
JANUARY 29, 2024
European cloud-based neobank Viva.com has partnered with Conecs to allow physical and digital meal voucher card transactions via its Terminal app.
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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.
American Banker
JANUARY 29, 2024
Jim Esposito, one of Goldman Sachs Group's most senior executives, is leaving after almost three decades with the firm.
The Paypers
JANUARY 29, 2024
India-based Newgen Software has partnered with UK-based Finastra to augment loan origination and integrate lending solutions with the latter’s LaserPro platform.
American Banker
JANUARY 29, 2024
Financial services companies are still in the early days of utilizing artificial intelligence, meaning they must closely examine any partnership with a third party. This includes demanding evidence to back up any performance claims these outside companies make.
The Paypers
JANUARY 29, 2024
Sharjah Islamic Bank has partnered with Noqodi , a financial technology firm and payment gateway owned by Emaratech Group, to improve its digital payment services.
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