Payments Dive

JULY 14, 2023

Cleveland Fed President Loretta Mester in a speech this week spelled out tools the new instant payments system will have for thwarting fraud.

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Tools Fraud Cleveland System 370

Abrigo

JULY 14, 2023

Practical advice for using data to develop and support institution goals Answering three questions ahead of strategic development discussions can ensure data drives your financial institution's efforts. Would you like other articles like this in your inbox? Takeaway 1 Exactly what information is needed to evaluate the viability of identified short- and long-term goals?

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Strategy Data Analytics Analysis 195

Payments Dive

JULY 14, 2023

The tech giant, now valued at $3 trillion, is continuing to expand its financial offerings after debuting a buy now, pay later feature and a savings account earlier this year.

Apple 195

Apple Payments 195

BankInovation

JULY 14, 2023

Overall expenses for JPMorgan Chase increased in the second quarter as the bank focused on hiring, tech investment and its integration road map for First Republic Bank. The $3.7 trillion bank acquired First Republic Bank on May 1 after regulators stepped in to facilitate the sale of the spiraling bank.

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Regulation Retail 97

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Payments Dive

JULY 14, 2023

Trust and transparency of fees were other key factors for consumers and businesses choosing a cross-border payment provider, a Swift survey revealed.

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Survey Security Payments 195

Payments Dive

JULY 14, 2023

The new program allows customers to earn cash back in their digital wallets from the chain store on eligible purchases.

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195

TheGuardian

JULY 14, 2023

Government-backed NS&I increases its rates, as building societies and banks launch better deals Amid the mortgage misery, there was more good news this week on savings rates, with a growing number of accounts now paying 6%-plus interest. Meanwhile, the government-backed NS&I – a favourite of many in these uncertain times – has upped the rates on some of its popular fixed-rate accounts.

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Groups 73

American Banker

JULY 14, 2023

The average credit union member had saved $286 less in March compared to a year earlier. That was the largest per-member drop in credit union history, fueled by rising costs of living and more aggressive competition.

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Report Community Bank Community 69

BankInovation

JULY 14, 2023

Wells Fargo focused on tech spend in the second quarter as headcount continued to shrink amid a push to reduce expenses. The $1.9 trillion bank’s tech spend rose 19% year over year to $947 million, and headcount dropped 4% YoY to 233,834, according to the bank’s earnings supplement.

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Retail 52

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American Banker

JULY 14, 2023

The New York megabank benefited duing the second quarter from strong revenue growth in its giant credit card business, which helped overcome headwinds in wealth management and investment banking. But executives indicated that the script could soon flip.

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New York Cards Management 69

BankInovation

JULY 14, 2023

Citibank is ramping up its automation efforts and modernizing its platforms to maintain competitiveness and drive down costs. The $1.7 trillion bank increased its technology and communications spend 12% year-over-year in the second quarter to $2.3 billion, according to Citi’s earnings supplement.

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Technology Retail Payments 52

American Banker

JULY 14, 2023

The bank's allowance for losses on commercial real estate loans jumped to $3.6 billion in the second quarter — up 64% from a year earlier. The negative forecast could portend trouble for smaller banks that have bigger exposure to the office sector.

Lending 69

Lending 69

Bussman Advisory

JULY 14, 2023

Join our community of 50,000+ subscribers and stay informed on the latest trends and news in the FinTech & AI world with the weekly newsletter provided by Bussmann Advisory. Gain insights into disruptive technologies, industry updates, and success stories from our portfolio companies. This week’s must-know stories: Ripple notches landmark win in SEC case over XRP cryptocurrency Meta to release open-source commercial AI model to compete with OpenAI and Google Revolut caces $20m loss as

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Fintech Leadership Community Trends 52

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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

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American Banker

JULY 14, 2023

If regulators push forward with plans to strengthen capital requirements for banks with more than $100 billion of assets, the nation's largest bank says, the cost of credit would rise and more consumers could seek out nontraditional lenders.

Capital 69

Capital National Regulation Compliance 69

TheGuardian

JULY 14, 2023

Wall Street bank’s profits rise 40% to $13.3bn as interest rates charged to borrowers increase One of the world’s largest banks, JP Morgan, is preparing for a potential surge in defaults by borrowers as households face pressure from high inflation and ever-climbing interest rates. The Wall Street bank put aside $1.7bn (£1.3bn) for credit losses between April and June, according to its latest financial report, marking a 54% jump from a year earlier, when provisions totalled $1.1bn.

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Report US 52

American Banker

JULY 14, 2023

Executives now see Wells Fargo's NII rising roughly 14% for the full year, more than the 10% jump they had earlier projected.

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The Paypers

JULY 14, 2023

‘Pull transfers’ have been put into operation in Argentina, enabling bank clients to send money directly from their bank accounts without entering the account of origin.

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Fintech Operations 36

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Lending

American Banker

JULY 14, 2023

The private-equity firm plans to focus on innovation and acquisitions when it takes a controlling stake of the payments processor.

Innovation 69

Innovation Payments 69

The Paypers

JULY 14, 2023

Financial technology platform Adyen has completed testing and certification for the FedNow Service, the Federal Reserve’s instant payment infrastructure launching in July 2023.

Financial Technology 36

Financial Technology Technology Payments 36

American Banker

JULY 14, 2023

Experts and industry leaders said banks are pumping investment into technology that can connect information silos.

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Data Industry Technology Risk Management 68

The Paypers

JULY 14, 2023

Financial service tech provider eCU Technology has partnered with payroll connectivity provider Atomic to bring automated direct deposit switching to credit unions.

Technology 36

Technology 36

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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

American Banker

JULY 14, 2023

The correlation between capital and economic activity is tenuous. Still, some economists say now is a fraught time for midtier banks to try to raise equity.

Capital 57

Capital 57

The Paypers

JULY 14, 2023

US-based Shield and LeapXpert have revealed that financial institutions struggle to monitor employee communications on messaging apps despite substantial fines.

Risk Management 36

Risk Management Management Report US 36

American Banker

JULY 14, 2023

The SEC chairman's power grab is driving the crypto industry out of the U.S. Eventually, the courts will find that he has exceeded his authority.

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Industry Policies cryptocurrency Compliance 53

The Paypers

JULY 14, 2023

Asset management and credit technology provider Linedata has partnered with Qualtik , a US-based provider of stress testing tools for commercial loans.

Industry 36

Industry Tools US Management 36

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