Payments Dive

SEPTEMBER 7, 2023

The new licenses are aimed at advancing Elon Musk's campaign to expand the social media company formerly known as Twitter into the payments business.

Rhode Island 433

Rhode Island Mississippi social media Payments 433

Abrigo

SEPTEMBER 7, 2023

Court case: Credit union held liable for ACH fraud losses A construction company argued the financial institution "failed to establish a reasonable routine" for monitoring suspicious activity alerts tied to ACH. Learn strong approaches to identifying, evaluating, and reporting suspicious activity in this BSA Guidebook Download now Takeaway 1 A credit union was recently found liable for fraudulent ACH transactions totaling $559,000.

Fraud 221

Fraud Training System Trends 221

Payments Dive

SEPTEMBER 7, 2023

The bank is venturing further into fintech and payments for new product development at its lab in Greece.

Payments 448

Payments Fintech 448

Abrigo

SEPTEMBER 7, 2023

Adapt to a dynamic banking environment with real-time lending & credit data Lender dashboards and reports showing the lending pipeline, pricing trends, emerging risks, workflow bottlenecks, etc. help financial institutions adapt quickly to trends. You might also like this on-demand webinar, "Identifying emerging CRE risks." WATCH NOW Takeaway 1 Financial institutions create a competitive advantage when they are informed about critical factors affecting loan growth.

Report 195

Report Lending Trends Data 195

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.

US

Payments Dive

SEPTEMBER 7, 2023

Square’s refocused sales team is a “key investment area for us in the future,” Block executive Amrita Ahuja said Wednesday.

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US 273

TheGuardian

SEPTEMBER 7, 2023

Leeds-based bank may finally be in position to support regional development and net zero climate ambitions It is not every day that the former boss of HSBC is found trudging through the mud of a Cornish mining site. But this was a special occasion. On an overcast day in early August, John Flint, now head of the UK Infrastructure Bank (UKIB), descended on Trelavour Downs in black wellies and a hi-vis jacket, alongside the Treasury minister Andrew Griffith, to mark the government-owned bank’s £24m

Regional 95

Regional Company 95

CFPB Monitor

SEPTEMBER 7, 2023

We first review the Fair Credit Reporting Act provisions that establish the different requirements for how a creditor or other furnisher of information to a credit bureau must respond to direct and indirect identify theft disputes involving credit report information reported by the furnisher to a credit bureau. A direct dispute is one made directly by the consumer to the furnisher and an indirect dispute is one made by the consumer to the credit bureau and then submitted to the furnisher by the

Report 78

Report 78

American Banker

SEPTEMBER 7, 2023

The Federal Deposit Insurance Corp.'s second-quarter report on the state of banking noted that while banks are enjoying strong profits, they face declining deposits, rising unrealized losses and shrinking net interest margins.

Report 92

Report FDIC Compliance Regulation 92

CFPB Monitor

SEPTEMBER 7, 2023

The California Privacy Protection Agency (CPPA) recently published two new sets of draft regulations addressing a range of cutting-edge data protection issues. Although the CPPA has not officially started the formal rulemaking process, the Draft Cybersecurity Audit Regulations and the Draft Risk Assessment Regulations will serve as the foundation for the process moving forward. .

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Regulation California Data 78

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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

Lending

American Banker

SEPTEMBER 7, 2023

After a steep sell-off early in 2023, the sector has recovered ground in summer trading as recession worries ease. But investors remain wary because loan demand is light, deposit costs are high, and net interest margins are under pressure.

Community Bank 85

Community Bank Industry Community 85

CFPB Monitor

SEPTEMBER 7, 2023

The Federal Deposit Insurance Corporation has announced that it is launching a new Banker Engagement Site (BES) this month through FDIC connect to serve as the primary tool for exchanging examination planning and other information for consumer compliance and Community Reinvestment Act (CRA) activities. (The FDIC examines state-chartered banks that are not members of the Federal Reserve System.) .

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FDIC Tools Compliance Community 78

American Banker

SEPTEMBER 7, 2023

Affirm is the latest BNPL lender to launch an in-store payment card with multiple financing options, giving consumers more checkout options as regulatory changes loom.

Cards 82

Cards Fintech Payments 82

CFPB Monitor

SEPTEMBER 7, 2023

The U.S. Chamber of Commerce, joined by six other trade groups, filed a lawsuit on September 28, 2022 in a Texas federal district court against the CFPB challenging the CFPB’s recent update to the Unfair, Deceptive, or Abusive Acts or Practices (UDAAP) section of its examination manual to include discrimination. The other plaintiffs are American Bankers Association, Consumer Bankers Association, Independent Bankers Association of Texas, Longview Chamber of Commerce, Texas Association of Busines

Texas 78

Texas Groups 78

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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

Report

TheGuardian

SEPTEMBER 7, 2023

Startup bank’s deals range from 6.5% to 7.5%, ‘comparable with two-year fixes at the moment’ A new UK mortgage lender is launching home loans that allow people to fix their rate for up to 30 years. It may also let them borrow more money than standard deals. Perenna claimed that by giving people certainty over what they pay for up to three decades, its deals would free borrowers from the interest rate turmoil that has caused many people to be hit with dramatically highermortgage costs this year.

Lending 77

Lending 77

American Banker

SEPTEMBER 7, 2023

The World Bank director and former top Labor Department economist will become the first Fed governor of Hispanic descent and will give the board a full compliment of members since former vice chair Lael Brainard resigned in February.

Policies 78

Policies Compliance Regulation 78

BankInovation

SEPTEMBER 7, 2023

Adyen NV has won approval for a UK banking license, replacing its temporary post-Brexit permission to offer embedded finance and other payments services. The Dutch company said the Financial Conduct Authority’s authorization allows it to continue operations in its UK branch.

NV 63

NV US Operations Payments 63

American Banker

SEPTEMBER 7, 2023

When 55 banks were asked to provide metrics on the health of their commercial real estate borrowers, some of them gave data that was six months old. The survey by Moody's Investors Service also found that certain borrowers are already struggling, and others could hit trouble soon, since they'll need to refinance at high interest rates.

Survey 74

Survey Data Risk Management Management 74

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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.

Lending

The Paypers

SEPTEMBER 7, 2023

UK-based digital payment provider STICPAY has partnered with nearly 40 payment providers to promote financial inclusion across Asia, Africa, and South America.

Payments 74

Payments America 74

BankInovation

SEPTEMBER 7, 2023

Fifth Third Bank looked to ChatGPT to update its chatbot’s natural language understanding model in order to keep up with growing adoption and advanced customer inquiries.

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ABA Community Banking

SEPTEMBER 7, 2023

Now is the time to prepare, as tougher regulatory scrutiny of capital levels is coming. The post Capital in the crosshairs appeared first on ABA Banking Journal.

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Capital Risk Management Community Bank Community 52

American Banker

SEPTEMBER 7, 2023

Fraudsters are leveraging advanced artificial intelligence to impersonate customers and deceive financial institutions, but the industry is fighting back with detection systems.

System 56

System Industry Fraud Technology 56

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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.

Lending

BankInovation

SEPTEMBER 7, 2023

LONDON — Financial institution DNB is exploring the risks and benefits of generative AI as the bank tests Boost.ai’s tools.

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Tools Management Technology 61

The Paypers

SEPTEMBER 7, 2023

Payment solutions provider PayU India has launched an initiative with cleantech startup FootprintLab , enabling customers to contribute to a sustainable future when transacting.

Fintech 48

Fintech Payments 48

American Banker

SEPTEMBER 7, 2023

Rohit Chopra, the director of the Consumer Financial Protection Bureau, wants to ensure that Big Tech firms are not unfairly excluding smaller fintechs from innovating on their platforms.

Google 45

Google Apple Mobile Payments 45

The Paypers

SEPTEMBER 7, 2023

Platform-specific payment infrastructure provider Mangopay has partnered with the fintech platform offering access to B2B payments and credit Kriya to better the B2B payment experience.

Payments 48

Payments Fintech 48

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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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