Fri.Apr 19, 2024

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Amex endures slow return of SMB demand

Payments Dive

Small and mid-sized businesses were fueling growth for American Express during the COVID-19 era, but not this year. That billed business grew 1% in the first quarter over last year.

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Credit Card Lingo Demystified!

BankBazaar

Confused by Credit Card jargon? Feeling lost in a sea of APRs, rewards points and interest charges? You’re not alone! This blog post is your saviour, translating complex Credit Card terminology into plain English. Dive in and learn to speak the language of Credit Cards – without getting lost in translation! Credit Cards – those handy rectangles that promise convenience, rewards and sometimes, a whole lot of confusion.

Cards 78
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Amazon defends ‘Just Walk Out’ pullback

Payments Dive

The retailer’s grab-and-go technology will be targeted to small stores, while its smart carts will be prevalent in grocery stores, the company said this week.

Retail 195
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Top banking digital signage trends to watch

ATM Marketplace

Omnichannel experiences are driving behaviors that motivate, inspire, and stir emotions that prompt action in bank branches. Digital signage has emerged as an essential component of these experiences.

Trends 62
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Digital Transformation: Accelerating ROI and Growth in Commercial Lending

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

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Accounts receivable automator Versapay taps new CFO

Payments Dive

Ed Neumann is joining the AR platform provider as it looks to grow by targeting companies seeking to digitize their older manual systems.

System 195

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Banks report digital adoption growth in first quarter

BankInovation

Huntington Bancshares joined mega-banks in growing digital adoption during the first quarter, citing increases in digital and mobile usership and in digital logins. During the quarter, Bank of America, Citizens Financial Group, JPMorgan Chase and Wells Fargo all reported digital usership growth.

Report 57
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Allow private capital to provide liquidity to Ginnie Mae servicers

American Banker

Banks and other private lenders could help ease the liquidity crisis facing some companies that service Ginnie Mae mortgages, but are currently prevented from doing so by the agency's rules. A simple fix would benefit everyone involved.

Capital 62
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Fifth Third controlling costs with automation

BankInovation

Fifth Third Bank saved $15 million in the first quarter, partly driven by deploying automation throughout its operations. “Expenses are well controlled … driven by savings realized through process automation and our focus on value streams,” Chief Executive Tim Spence said during the bank’s first-quarter earnings today.

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Finix launches automated Merchant Underwriting

The Paypers

US-based full-stack payment processor Finix has rolled out its Merchant Underwriting that automates underwriting workflows and streamlines merchant onboarding.

US 48
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The State of Automation in Financial Services 2024 Report

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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How a Tennessee credit union uses generative AI to foster fair lending

American Banker

Leaders of ORNL Federal Credit Union are piloting Zest AI's new artificial intelligence-powered assistant to ensure equitable underwriting practices and measure performance against similar institutions.

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Bluecode partners with Alipay+

The Paypers

Austria-based payment brand Bluecode has entered a strategic partnership with Alipay+ to enable its users to make payments at all of the latter’s supported stores across Europe.

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Capital One and Discover walked away from talks before reaching a deal

American Banker

New details have emerged about the negotiations that culminated in Capital One's blockbuster $35 billion agreement to acquire Discover. At one point last December, the two parties broke off discussions, according to a securities filing.

Capital 36
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Revolut launches refinancing facility in Romania

The Paypers

UK-based fintech company Revolut has announced the launch of its refinancing facility in the region of Romania, as well as the solution’s overall global premiere.

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Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance

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.

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Truist announces departures, First Horizon reveals succession plans

American Banker

Truist Financial's top executive leadership team announces departures; First Horizon's chief credit officer is retiring; Ferry teams with Highnote to roll out a new Visa-branded payroll card; and more in the weekly banking news roundup.

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Pliant secures EUR 18 mln Series A extension led by PayPal Ventures

The Paypers

Pliant has raised more than EUR 18 million in Series A extension financing led by PayPal Ventures to expand into the UK and other markets outside the EU.

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Fed: Inflation, policy uncertainty are top financial stability concerns

American Banker

According to the Federal Reserve Board's latest financial stability report, persistent inflation and policy uncertainty are the primary worries for banks. Survey respondents expressed heightened anxiety over murky policy outlooks due to geopolitical turmoil and rapidly approaching domestic elections.

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Mastercard launches mobile virtual card application

The Paypers

Mastercard has announced the launch of its mobile virtual card application in order to simplify and make travel and business expenses more secure.

Mobile 45
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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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American Express' consumer spending thrives, but small business lags

American Banker

Powered by younger, affluent cardholders, American Express saw a 6% increase in billed business during the first quarter, while weak growth still plagues its small-business segment.

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Cognizant joins forces with FICO

The Paypers

US-based professional services company Cognizant has entered a strategic collaboration with FICO in a bid to introduce a cloud-based payment fraud prevention solution.

Fraud 41
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Ohio banks say 'Howdy' to commercial loan opportunities in Texas

American Banker

At a time of mild or nonexistent loan growth, middle-market borrowers in the Lone Star State are providing a boost to Fifth Third Bancorp and Huntington Bancshares.

Ohio 36
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Backbase joins forces with EverBank

The Paypers

Netherlands-based Engagement Banking Platforms provider Backbase has entered a strategic partnership with EverBank to improve commercial and treasury solutions.

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Top 10 Benefits of Automating Loan Modifications for Commercial Lenders

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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Comerica says its AI bot performs work of six IT helpdesk agents

American Banker

The Dallas-based regional bank tapped a client for its copilot capabilities, where employees can message a bot instead of a human to get tech assistance.

Dallas 36
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F92 and Tandem Bank help spread financial literacy

The Paypers

UK-based charity Foundation 92 (F92) has partnered with Tandem Bank to deliver financial inclusion across UK’s Greater Manchester.

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Ginnie Mae President Alanna McCargo to retire

American Banker

McCargo stabilized the agency at a crucial time as she helped navigate it through both a pandemic and subsequent dramatic interest-rate cycle change.

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FinMont partners with Ubank Connect

The Paypers

Global payment orchestration platform FinMont has partnered with Ubank Connect to allow merchants to accept and send payments across emerging markets.

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2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

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.