Payments processing can get complicated, so let this primer be your guide.
Payments Dive
SEPTEMBER 22, 2023
How many companies does it take to process a credit card payment?
Fri.Sep 22, 2023
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The Unsung Heroes of Mortgage Lending
SWBC's LenderHub
SEPTEMBER 22, 2023
In a vast—and largely digital—lending landscape, big banks and FinTechs often hog most of the financial glory. They’re more visible and have slick advertising that suggests they’re the best and safest bet for a person’s financial future.
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Holiday spending to increase 3.7%: Mastercard
Payments Dive
SEPTEMBER 22, 2023
Consumer outlays for electronics and at restaurants are expected to boost expenditures this year, according to the card network.
Loan Trading – Then vs. Now
Jack Henry
SEPTEMBER 22, 2023
All new technology is born out of purpose. For example, search engines were created to sort through the massive amounts of data online. And with every upgrade or enhancement, technology compounds itself to create something better. And on and on it goes.
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.
Rupert Murdoch’s last move? The Spectator is in his sights
TheGuardian
SEPTEMBER 22, 2023
Rightwing magazine is said to be a favourite of the billionaire and is considered a ‘trophy prize’ Rupert Murdoch may have officially stood aside as chair of his media businesses but he’s still eyeing up what could be his last major UK deal: the purchase of the Spectator magazine. The rightwing magazine, which is due to be auctioned off next month, is said to be a favourite of the billionaire, who used his resignation statement to claim much of the media is “in cahoots” with elites who have “ope
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JPMorgan shutters 14 First Republic branches, more closures expected
American Banker
SEPTEMBER 22, 2023
The nation's largest bank, which acquired the remains of San Francisco-based First Republic following its failure this spring, has completed its plans to close 21 offices this year. But the consolidation effort is likely to continue.
Has the import price shock been worse in the UK or euro area?
BankUnderground
SEPTEMBER 22, 2023
Josh Martin and Julian Reynolds How much have higher import prices increased consumer prices in the UK and euro area? This post explores this question using a framework grounded in some fundamental economic and national accounting concepts. Starting with the GDP price, we adjust for relative import and export prices to arrive at a consumer prices measure – this gives us a sense of the impact of import prices and the terms of trade shock on consumer price inflation.
A new trend in regtech is a gift to money laundering criminals
American Banker
SEPTEMBER 22, 2023
The move to create data consortia and proprietary information networks is creating exactly the kind of information silos that money launderers exploit today.
Fintech Funding: Curve raises $163M as fintech funding dries up
BankInovation
SEPTEMBER 22, 2023
Financial super app Curve raised $163 million in a series C round this week, even as global fintech funding has dropped significantly. Not only has funding dropped due to uncertain macroeconomic conditions and rising global interest rates, but the number of deals has also decreased.
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
Fed governor calls for transparency, accountability in AI models
American Banker
SEPTEMBER 22, 2023
Federal Reserve Board Gov. Lisa Cook said artificial intelligence holds great promise for the economy, but stressed the importance of human choice in decision making, both financial and otherwise.
Scotiabank sees gen AI potential via citizen coders
BankInovation
SEPTEMBER 22, 2023
AI development has traditionally been reserved for specific coders with advanced training, but with generative AI, financial institutions can look to citizen coders. According to research and advisory group Gartner, citizen developers, or citizen coders, are employees of a company, in this case bank, that innovate outside of the traditional IT setting.
Why PayPal's stablecoin whiffed out of the gate
American Banker
SEPTEMBER 22, 2023
The company's scale has helped it become a force in many payment niches, but that wasn't enough to make its PYUSD coin an immediate threat to Tether's USDT and Circle's USDC.
As UK mortgage interest rates fall, should you choose a two-year or five-year fix?
TheGuardian
SEPTEMBER 22, 2023
Bank of England halts run of base rate rises but borrowers still have much to ponder This week’s decision by the Bank of England to hold the base rate at 5.25% after 14 back-to-back rises has left borrowers sighing with relief. It was a close-run thing, with almost half of the monetary policy committee voting for a further increase, and it is not clear if it heralds an end to these or only a pause.
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
'Job security forever': Bank leaders on AI and cyber defense
American Banker
SEPTEMBER 22, 2023
At the Sibos conference this week, cybersecurity leaders at banks and other experts debated how to train employees to thwart threats that are intensified by AI.
Podcast: Credit card rewards are for all people
ABA Community Banking
SEPTEMBER 22, 2023
With the availability of credit card rewards at stake under the Durbin-Marshall credit card bill, bill sponsor Sen. Roger Marshall dismisses consumer concerns about their rewards. The post Podcast: Credit card rewards are for all people appeared first on ABA Banking Journal.
Northwest's CFO search, Plains State's new small-business portfolio
American Banker
SEPTEMBER 22, 2023
Northwest Bank starts search for new CFO; Plains State Bank acquires wealth management, tax businesses; Bank of America names new heads for North America industrials banking; and more in the weekly banking news roundup.
Wise launches Apple Pay and Google Pay for cardholders in Malaysia
The Paypers
SEPTEMBER 22, 2023
UK-based remittance platform Wise has integrated Apple Pay and Google Pay for cardholders in Malaysia.
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.
20 banks with the best reputation among noncustomers
American Banker
SEPTEMBER 22, 2023
The top five banks have an average reputation score among noncustomers of 70.7 in 2023.
Fireblocks partners with Asset Reality
The Paypers
SEPTEMBER 22, 2023
Asset Reality , an end-to-end seized asset solution platform, has integrated with Fireblocks , a platform to manage digital asset operations and build businesses on the blockchain.
Bankers boost size of Worldpay buyout debt on investor demand
American Banker
SEPTEMBER 22, 2023
Banks including Goldman Sachs Group Inc. and JPMorgan Chase & Co. sold $8.64 billion of debt to fund the partial leveraged buyout of Worldpay Inc., boosting the size of the offering in a sign of growing investor demand for LBO debt.
Vero Technologies raises USD 8.5 mln in Series A funding round
The Paypers
SEPTEMBER 22, 2023
Vero Technologies , a wholesale financing technology and loan servicing platform, has announced the close of its Series A funding round, led by venture capital fund BankTech Ventures.
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.
Muni-price fixing suit inches closer to settlement with Wall Street
American Banker
SEPTEMBER 22, 2023
The lawsuits alleged that banks including Bank of America and Goldman Sachs — acting as remarketing agents on the securities — failed to get the best rates for issuers.
Uber Eats to roll out AI-powered features
The Paypers
SEPTEMBER 22, 2023
Uber Technologies has announced it will accept more payment options on its food delivery platform and roll out an AI-powered assistant to help users find deals and explore food options.
Fed's Bowman urges bankers to comment on regulatory proposals
American Banker
SEPTEMBER 22, 2023
Federal Reserve Gov. Michelle Bowman, who has emerged as a leading opponent to the central bank's recent efforts to raise capital requirements, said it was "absolutely imperative" that banks make their concerns heard.
Shufti Pro partners with Newton Global
The Paypers
SEPTEMBER 22, 2023
ID verification solution provider Shufti Pro has partnered with Newton Global to enhance the latter’s online security and KYC compliance.
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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