X adds state money licenses in pursuit of payments
Payments Dive
AUGUST 28, 2023
The social media company, formerly known as Twitter, advanced its payments strategy by collecting two more state money transmitter licenses.
Mon.Aug 28, 2023
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How banks can reimagine a winning loyalty strategy
Accenture
AUGUST 28, 2023
How loyal are your customers? And do they feel truly rewarded for their ongoing relationship with your bank? According to recent Accenture research, banking customers view loyalty as a two-way street: they are open to being loyal to one primary bank, but they want their bank to recognize and reward this loyalty. And while the… The post How banks can reimagine a winning loyalty strategy appeared first on Accenture Banking Blog.
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Processor trade group weighs in on FedNow, surcharges
Payments Dive
AUGUST 28, 2023
The American Transaction Processors Coalition, which includes payments players from Visa to Fiserv, strives to strike a balance in representing their interests at the federal and state levels.
The Term Structure of Rates and Its Impact on Commercial Borrowing
South State Correspondent
AUGUST 28, 2023
Bankers need to consider the term structure of rates, also known as the yield curve shape, when structuring and pricing commercial loans to maximize return and reduce risk. Many bankers and borrowers are convinced that a recession is imminent, but the current term structure of rates does not necessarily establish this conclusion. The yield curve’s predictive power is not causal; instead, there is a weak relationship between short and long-term rates, and it is not just the slope of the c
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.
Incoming payments CEOs usher industry into new era
Payments Dive
AUGUST 28, 2023
A spate of CEO appointments this year reflects an era of change and competition that’s likely to keep driving turmoil and advances in the industry.
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B2C payouts are at a turning point — Digital value is the transformation they need
Payments Dive
AUGUST 28, 2023
Digital experiences transformed how consumers make payments—now it’s time for B2C payouts to catch up.
Ninth Circuit confirms discrete actions in debt collection litigation can trigger FDCPA one-year statute of limitations
CFPB Monitor
AUGUST 28, 2023
A panel of the U.S. Court of Appeals for the Ninth Circuit recently held that because of the timing of a filing in a collection action against a student loan borrower, his claim that debt collectors violated the Fair Debt Collection Practices Act (FDCPA) was not time-barred, reversing the lower court’s dismissal. .
AiFi adds frictionless checkout to University of San Diego convenience store
Payments Dive
AUGUST 28, 2023
Fast-paced campus life is turning schools into an attractive market for autonomous retailers.
BNY Mellon selects Salesforce for advisory productivity
BankInovation
AUGUST 28, 2023
BNY Mellon technology arm Pershing X is collaborating with cloud-based software provider Salesforce to automate data exchange for a unified platform for wealth management firms.
Digital Transformation: Accelerating ROI and Growth in Commercial Lending
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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
Small bank in Maine offers mortgages friendly to devout Muslims
American Banker
AUGUST 28, 2023
Followers of Islam cannot pay interest on loans. Androscoggin Bank figured out a way to structure a new product that addresses that challenge and paves a path to more homeownership.
Cloud migration vital for banking industry
BankInovation
AUGUST 28, 2023
Cloud migration projects have become increasingly important for the banking industry, offering benefits that can revolutionize how financial institutions operate. In an era in which digital transformation is reshaping the landscape, it is vital for banks to adapt to stay competitive and meet evolving customer expectations.
How JPMorgan Chase's use of Tap to Pay puts pressure on merchant acquirers
American Banker
AUGUST 28, 2023
The bank's retail clients can enable iPhones to accept payments without extra hardware, raising the stakes for any company that competes with the bank for merchant clients.
US reveals new rules for crypto tax reporting
The Paypers
AUGUST 28, 2023
The US Treasury Department has proposed a new rule that would compel cryptocurrency brokers to report on users' sales and exchanges of digital assets.
The State of Automation in Financial Services 2024 Report
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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
Key's profits have sunk. Can it move fast enough to soothe investors?
American Banker
AUGUST 28, 2023
The regional bank's stock price is down 38% this year, and it recently got downgraded by S&P Global. While there's light at the end of the tunnel — as Key looks to rebound from the negative impact of soaring interest rates — analysts question whether the improvement will take too long to materialize.
Safaricom to launch mobile money service in Ethiopia
The Paypers
AUGUST 28, 2023
Safaricom has announced that they will launch M-Pesa in Ethiopia by the end of September 2023 and will have it integrated with more banks.
Five Star Credit Union is buying a third Georgia bank
American Banker
AUGUST 28, 2023
The Alabama-based credit union has agreed to purchase the $215 million-asset OneSouth Bank in Macon; it also purchased Georgia banks in 2014 and 2015.
UK financial firms ‘may be lending over £174m a month to at-risk gamblers’
TheGuardian
AUGUST 28, 2023
Bank data analysis suggests lenders could be unwittingly fuelling gambling problems by extending credit Financial institutions in the UK may be lending more than £174m a month to people who are using a risky proportion of their income on gambling, an analysis of the spending patterns of loan customers suggests. The credit technology firm Abound looked at the open banking data of people who applied for its loans and used artificial intelligence to assess all their financial transactions over a si
Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance
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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.
5 things to keep in mind when choosing a core banking system
American Banker
AUGUST 28, 2023
Some banks are gravitating toward API connectivity to build an "ecosystem of applications." Others like a one-stop-shop or ready access to executives.
Membrane Finance launches euro stablecoin on the Solana blockchain
The Paypers
AUGUST 28, 2023
Finland-based fintech company Membrane Finance has launched a MiCA-compliant euro stablecoin on the Solana blockchain.
Stop viewing the representation of women in fintech as an afterthought
American Banker
AUGUST 28, 2023
The need to create a pipeline of female leaders in the male-dominated fintech space is urgent and deserves the industry's attention.
Mastercard partners with Ingiz
The Paypers
AUGUST 28, 2023
Mastercard has partnered with Ingiz , an Egypt-based family financial management startup, to launch a digital payments app aimed at driving financial literacy and inclusion among youth in Egypt.
2024 Lending Outlook: Innovations and Evolutions in the Financial Sector
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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.
7 industries with the most fintech financings so far this year
American Banker
AUGUST 28, 2023
The top three industries have $19.8 billion in combined fintech financings through June 2023.
FICO and LigaData join forces
The Paypers
AUGUST 28, 2023
Global analytics software provider, FICO , has partnered with LigaData aiming to bring advanced decision management and optimisation tools to telecommunications firms in Africa, the Middle East and Asia.
San Francisco Fed bank-supervision chief to depart
American Banker
AUGUST 28, 2023
Azher Abbasi, executive vice president of the supervision and credit group at the Federal Reserve Bank of San Francisco, will retire on Oct. 31. Niel Willardson, a former Minneapolis Fed official, will replace him as interim executive vice president Oct. 1.
Instacart files registration statement for public offering
The Paypers
AUGUST 28, 2023
US-based grocery tech company Instacart has filed a registration statement on Form S-1 with the US Securities and Exchange Commission regarding a proposed initial public offering of its common stock.
Top 10 Benefits of Automating Loan Modifications for Commercial Lenders
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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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