Cross-border payment plays rev up
Payments Dive
OCTOBER 10, 2022
The Clearing House, Swift and rivals are jostling to speed up cross-border payments, with collaboration and competition likely to emerge at an international conference this week.
Payments Dive
OCTOBER 10, 2022
The Clearing House, Swift and rivals are jostling to speed up cross-border payments, with collaboration and competition likely to emerge at an international conference this week.
Abrigo
OCTOBER 17, 2022
Abrigo announced the retirement of Chief Executive Officer Wayne Roberts and the company’s search for its next CEO. . Roberts, who joined the company in 2016, is stepping back to focus more time on personal interests and passions. In addition to dedicating himself to growing the company over the past 6 years, Wayne served as the primary caregiver to his wife, Shannon, during her battle with glioblastoma brain cancer.
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Independent Banker
OCTOBER 31, 2022
Photo by Chris Williams. “FedNow can be another positive differentiator for our nation’s community banks, but we must be ready for this real-time service and its 24/7/365 requirements.”. We’ve been working toward a faster payments future for a decade now, and we’re finally seeing the fruits of our labor: the launch of FedNow. Our efforts to encourage the Fed to offer an instant payments solution have led to this result; it was our voices that expedited FedNow’s time to market, with the Fed updat
Bobsguide
OCTOBER 5, 2022
Intix is proud to launch xCOMPLY to help financial institutions deal with compliance operations more efficiently. Regulatory requirements are becoming more and more complex, and financial institutions know that access to transaction data has become a must. However, the evolution of the regulatory landscape means that transparency on the business context of transactions has become vital. xCOMPLY achieves this by helping financial institutions to know their transaction (KYT) in a holistic and deep
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.
CFPB Monitor
OCTOBER 31, 2022
Recently, the Federal Housing Finance Agency (FHFA) announced the approval of two new credit scoring models, the FICO 10T and the VantageScore 4.0 for use by Fannie Mae and Freddie Mac (the GSEs or Enterprises). Lenders will have a few years to implement use of the new models before being expected to report both scores on loans sold to the GSEs. Currently, and for the past 20 years, the Enterprises have relied on Classic FICO credit scores.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Dive
OCTOBER 5, 2022
The Block-owned buy now-pay later provider is growing beyond its “pay in 4” plans by adding a financing option for pricier purchases.
ATM Marketplace
OCTOBER 18, 2022
In an age where customers are more willing than ever to switch banking providers, banks need to step up their game when it comes to mobile apps.
Cisco
OCTOBER 4, 2022
The Federal Financial Institutions Evaluation Council (FFIEC) is a governmental body that provides interagency regulatory guidance for financial institutions. This provides a consistent framework for different regulatory bodies, and applies to the OCC, Federal Reserve, CSRB, and others. In June 2021, following large cyber attacks on the United States and the resulting Executive order on Cyber security, the FFIEC released the largest update in guidance in over a decade to help financial auditors
Bobsguide
OCTOBER 9, 2022
Leading fintech company AutoRek is delighted to have been recognised at the Scottish Financial Technology Awards 2022 , held on Thursday, 6 October, where it won in the ‘Payments Innovation’ category. The judges said AutoRek demonstrated clear market fit and praised both its level of innovation and laser-focused commitment to solving a specific but widespread problem in the industry.
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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
CFPB Monitor
OCTOBER 30, 2022
On October 20, 2022, the Federal Trade Commission (“FTC”) announced that it is issuing an Advance Notice of Proposed Rulemaking (“ANPR” or “Notice”) to address “junk fees,” a term used in the Notice to refer to “unfair or deceptive fees that are charged for goods and services that have little or no added value to the consumer.”. In announcing the Notice, the FTC said it is seeking public comment on “the harms stemming from junk fees and associated junk fee practices and on whether a new rule wou
TheGuardian
OCTOBER 31, 2022
Oleg Tinkov, who has previously spoken out against the conflict, says he won’t be associated with a ‘fascist country’ The billionaire banker and entrepreneur Oleg Tinkov has renounced his Russian citizenship because of the conflict in Ukraine, which he has previously criticised. “I have taken the decision to exit my Russian citizenship. I can’t and won’t be associated with a fascist country that started a war with their peaceful neighbour and killing innocent people daily,” Tinkov said.
Payments Dive
OCTOBER 4, 2022
In a 6-1 vote, the Federal Reserve finalized a debit card processing rule that underscores a requirement that multiple card networks be available for routing transactions, including online.
ABA Community Banking
OCTOBER 31, 2022
Asset-liability managers haven’t seen a rate environment like this in a generation. Experts provide tips on how to pivot. The post Asset liability management best practices in a rising-rate environment appeared first on ABA Banking Journal.
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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
BankInovation
OCTOBER 28, 2022
Global economic instability has made rough waters, and balancing the books nowadays is a tough job, to say the least. Conventional advice on how organizations should behave in a tumultuous economic environment has been to do everything possible to cut costs across departments and ride out the storm. However, paying little attention to furthering investments […].
The Paypers
OCTOBER 18, 2022
US-based Open Banking operator Plaid has published The Fintech Effect report that shows 84% of UK consumers use fintech for money management in 2022.
CFPB Monitor
OCTOBER 27, 2022
Two recently-passed bills in California, Assembly Bill 2311 (“AB 2311”) and Senate Bill 1311 (”SB 1311”), were signed into law by Governor Gavin Newsom on September 13 and September 27, respectively, placing new restrictions on the sale of Guaranteed Asset Protection (“GAP”) waivers in California. The new laws limit the price of GAP waivers, add new disclosure requirements, ban GAP waiver sales in certain instances, and prohibit financing of GAP insurance in auto loans to servicemembers.
TheGuardian
OCTOBER 17, 2022
New chancellor made no mention of policy in economic update, but Treasury sources confirm he will go ahead with controversial move Hunt rips up most of Kwarteng’s mini-budget UK politics: all today’s developments – live The new chancellor, Jeremy Hunt, is pressing on with plans to scrap the bankers’ bonus cap, protecting one of the most divisive policies from his predecessor’s disastrous mini-budget.
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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.
Payments Dive
OCTOBER 21, 2022
The bank said it invested in the regulated gaming company Sightline Payments this week, following an agreement earlier this year to be the firm’s primary merchant acquirer.
ABA Community Banking
OCTOBER 18, 2022
The relief effort is part of the $3.1 billion allocated by the Inflation Reduction Act for distressed borrowers of USDA loans. The post USDA provides nearly $800 million in loan relief, more aid to come appeared first on ABA Banking Journal.
BankInovation
OCTOBER 10, 2022
Think of this less like one of those WikiHow articles you pilfer through when you don’t know how to dance at a wedding or fix a flat tire (although these skills are very, very important) and more like an Atul Gawande checklist to building a modern Treasury Services department at a bank. Do you use […].
CB Insights
OCTOBER 24, 2022
Fintech funding has taken a beating this year after a record-shattering 2021, but big tech companies are still keen on the space. The tech giants — such as Meta, Apple, Google, and Amazon — are well-positioned to do well in fintech, one key reason being that they all have far-reaching platforms with gigantic user bases. This creates opportunities to seamlessly integrate financial services into existing products through partnerships or in-house efforts, scale them up with ease to reach users alre
Advertiser: Data Robot
The buzz around generative AI shows no sign of abating in the foreseeable future. Enterprise interest in the technology is high, and the market is expected to gain momentum as organizations move from prototypes to actual project deployments. Ultimately, the market will demand an extensive ecosystem, and tools will need to streamline data and model utilization and management across multiple environments.
CFPB Monitor
OCTOBER 20, 2022
With the dark cloud over the CFPB that was the constitutional challenge to the for-cause limit on removal of its Director having mostly lifted, a new and even darker cloud has descended in the form of another constitutional challenge. Yesterday, a unanimous three-judge panel of the U.S. Court of Appeals for the Fifth Circuit ruled that the Consumer Financial Protection Bureau’s funding mechanism violates the U.S.
TheGuardian
OCTOBER 13, 2022
There is ‘no justification for lifting the cap’ on bonuses, said general secretary Frances O’Grady Bankers’ bonuses have doubled since the 2008 financial crash, according to research by the TUC, which accuses the government of enriching City financiers while “holding down” the pay of key workers. The unions’ umbrella body said bonuses in finance and the insurance sector have reached a record £20,000 a year on average – which it says is almost one-and-a-half times the average pay collected by tea
Payments Dive
OCTOBER 18, 2022
“In addition to cross-border payments, the benefits of FedNow must be widely available to Americans through competitive, diverse providers — including nonbanks,” writes a U.S.-based Wise executive.
ABA Community Banking
OCTOBER 4, 2022
Dan Robb, ABA’s 2022-23 chair, shares his infectious enthusiasm for banking and community. The post Dan Robb’s dream team appeared first on ABA Banking Journal.
Advertiser: Trellis
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