Wed.Mar 06, 2024

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Visa, Western Union partner on cross-border payments

Payments Dive

The card network and the cross-border payments company are developing an international payment system that could be used in disaster situations.

Payments 416
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Monzo preps for another U.S. push, Stripe adds iPhone payments in U.K.

American Banker

Monzo raises a $430 million investment to accelerate its expansion in the U.S.; Stripe adds support for Tap to Pay on iPhone; and more in this week's global payments news roundup.

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US Health Dept. offers assistance in wake of Change cyberattack

Payments Dive

Healthcare providers have reported significant challenges to their day-to-day operations, including problems receiving payment from patients and insurers.

US 221
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How resilient are UK corporate bond issuers to refinancing risks?

BankUnderground

Laura Achiro and Neha Bora Central banks in most advanced economies have tightened monetary policy by raising interest rates. Tighter financing conditions may make it harder for some businesses to refinance their debt or could mean they face less favourable terms when they do. This blog explores the extent to which bond maturities could crystallise these refinancing risks.

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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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i2c pursues bank clients abroad

Payments Dive

The issuing-processing fintech sees a bigger opportunity in regions outside the U.S. to sell its core banking services, founder and CEO Amir Wain said.

Regional 221

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Huck’s adds touchless payments for fleets

Payments Dive

The convenience retailer is the latest to add this capability as it seeks to win over more business from corporate accounts and professional drivers.

Payments 195
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Fintech startup focused on asset risk builds bank advisory board, gets Citi Ventures funding

ABA Community Banking

The company's technology is designed to align with the U.S. financial sector's push to diversify loan portfolios—particularly highlighted by risks exposed by the bank failures of the past year. The post Fintech startup focused on asset risk builds bank advisory board, gets Citi Ventures funding appeared first on ABA Banking Journal.

Fintech 69
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BP to upgrade mobile app, POS system

Payments Dive

The c-store and fuel giant will overhaul its BPme platform as it looks to create an enhanced purchasing experience, a spokesperson said.

System 195
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How junk fees have changed since Biden's last State of the Union

American Banker

In 2023, the Biden administration pledged to reduce "junk fees." Ahead of this year's State of the Union, we revisit what progress has been made.

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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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Google allows alternatives in Europe, cracks down in India

Payments Dive

The tech giant said it will expand in-app payments options in the EU, while cracking down on apps in India that it said refused to pay its fees.

Google 221
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Capital One and Discover merger ‘dangerous’, consumer groups tell Fed

TheGuardian

Coalition of advocacy groups warn that deal would ‘further concentrate risk’ in the financial system and ‘must be stopped’ Regulators have been urged to block Capital One’s $35bn takeover of Discover by campaigners who say the blockbuster deal is “dangerous, illegal, and must be stopped”. Urging the Federal Reserve and Department of Justice to intervene, a coalition of more than a dozen advocacy groups cautioned that combining two of the largest credit card companies in the US would damage compe

Groups 74
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5 questions with … Google Cloud’s James Dean

BankInovation

James Dean, global generative AI specialist and financial services industry lead at Google Cloud, will speak at Bank Automation Summit U.S. 2024 on Monday, March 18, at 3:15 p.m. CT.

Google 68
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Credit Karma embeds generative AI in overhauled app

American Banker

The personal finance site is rolling out changes to its app that incorporate AI-powered chat and explanatory articles customized to each user.

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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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Papara to acquire T-Bank

The Paypers

Turkey-based financial technology company Papara has announced the acquisition of T-bank for an undisclosed amount, with the deal awaiting regulatory approval.

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Make Your ATM Network More Secure

ATM Marketplace

ATM attacks may differ in methods and intensity across regions, but many common global attack patterns exist. Some of these attacks are escalating at an alarming rate and becoming worldwide concerns. Criminal groups are now highly organized, specialized, and targeting specific attack vectors, particularly on ATMs.

ATM 66
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JPM subsidiary buys LayerOne Financial

BankInovation

JPMorgan subsidiary Neovest Holdings has acquired investment management company LayerOne Financial for an undisclosed sum. Neovest, a fintech for brokers and dealers, will now be able to help clients monitor portfolios, conduct risk assessments and send orders to their brokers, it stated in a March 1 release.

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BRICS pursues de-dollarisation with blockchain-based payments

The Paypers

BRICS has made efforts to create payment system based on digital currencies and blockchain to reduce reliance on US dollars in settlement.

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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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Transactions: JPM subsidiary buys LayerOne Financial

BankInovation

JPMorgan subsidiary Neovest Holdings has acquired investment management company LayerOne Financial for an undisclosed sum. Neovest, a fintech for brokers and dealers, will now be able to help clients monitor portfolios, conduct risk assessments and send orders to their brokers, it stated in a March 1 release.

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EU adopts 13th sanctions package against Russia

The Paypers

The European Union has agreed on the 13th package of sanctions against the Russian Federation following two years of aggression in Ukraine.

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How PNC's Deborah Guild works to protect the bank and its customers: The Climb

American Banker

As the head of enterprise technology and security, Guild tries to stay ahead of fraudsters and other bad actors.

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Yuno secures USD 25 million from consortium of investors

The Paypers

Global payment orchestration platform Yuno has announced that it secured USD 25 million from a consortium of investors, aiming to leverage it to advance operations.

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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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Biden will highlight fight against 'junk fees' in State of the Union

American Banker

President Joe Biden is expected to lean in on banking issues such as credit card late fees and overdraft fees Thursday evening in his annual address to Congress. However, he likely will avoid the topic of financial-sector stability, even amid a private-sector rescue of New York Community Bancorp.

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Wasabi introduces White Label OEM Program

The Paypers

US-based Wasabi Technologies has announced the launch of its White Label OEM Program, aiming to deliver predictably priced, reliable and scalable cloud storage to users globally.

US 41
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Where are real-time payments taking off fastest? It's not the U.S.

American Banker

Brazil's Pix network, at just three years old, now accounts for 15% of all global real-time payments — and its success is inspiring projects in other countries.

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Eurojust aids cross-border crackdown on EUR 2 bln fraud scheme

The Paypers

Eurojust has aided a multinational investigation on EUR 2 billion money laundering scheme, implicating 3 main suspects across Italy, Latvia, and Lithuania.

Maine 45
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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.