Identity Fraud Hits Record High in 2016

Bank Innovation

The identity fraud incidence rate increased by 16%, a record high since the company began tracking identity fraud in 2003. More than 15 million people were affected by identity fraud in the U.S. last year, according to a recent study by Javelin Strategy & Research. Fraudsters successfully adapted to net two million more victims last year, compared to 2015. […]. DataBank Databank fraud

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PALCO Federal Credit Union chief to retire in March

American Banker

based institution since 2003, will be succeeded by Scott Naughton, who is new to credit unions but has extensive experience in the financial services sector. Tom Rachael, who has led the Muncy, Pa.-based


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Announcing a major expansion of the Financial Services Club

Chris Skinner

ANNOUNCEMENT – LONDON, UK: JUNE 25 2018 Back in 2003, Andy Coppell and I conceived the idea for The Financial Services Club, with the objectives of: Promoting discussion among senior people working in Financial Services, who were interested in better understanding the likely future direction of the Market; Enabling networking … The post Announcing a major expansion of the Financial Services Club appeared first on Chris Skinner's blog.

Community First CEO to retire in 2021 after 35-year career in credit unions

American Banker

based institution, which he has led since 2003. Todd Sheffield has announced his intention to step down from the Santa Rosa, Calif.-based C-suite Credit unions Career moves Career planning Career advancement Succession planning Recruiting

DocuSign Introduces Payment at Signing [VIDEO]

Bank Innovation

Electronic signature firm DocuSign has been around since 2003. It allowed parties to contracts to sign from their computers, and later, from mobile devices. But users couldn’t pay at the time of signing — that required following up. Today DocuSign introduced payment at signing, as well as partnerships with Android Pay, Apple Read More. E-Commerce Mobile Online Payments Android Pay Apple Pay DocuSign MasterCard PayPal Visa

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Leominster Credit Union promotes insider as next CEO

American Banker

Barbara Mahoney, who joined the credit union in 2003 as a human resources executive, will take over after John O’Brien retires next month. C-suite Massachusetts Career moves Career advancement Succession planning

Working Capital FinTech PrimeRevenue Boosts Receivables Finance Tools


Headquartered in Atlanta, Georgia, and founded in 2003, PrimeRevenue offers supply chain finance solutions in more than 80 countries and processes over $250 billion in payment transactions per year.

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FTC data security proposals could â??trapâ?? US banks in tangle of regulation


The Federal Trade Commission (FTC)’s proposed changes to the 2003 Safeguards Rule, which seek to tighten the data security procedures of US banks, seems premature and may contain traps for unwary financial institutions attempting to meet both state and federal laws, according to the American

Telehealth Startup Hims & Hers Partners With Lifestyle Fashion Retailer REVOLVE


Revolve Group was founded in 2003 by co-CEOs Michael Mente and Mike Karanikolas in a suburb of Los Angeles, California.

Car Retailer Cazoo Acquires SMH Fleet Solutions 


Helens every year since its inception in 2003. based online car retailer Cazoo on Wednesday (Sept.

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Merchants See a Dangerous Precedent in 'Honor All Wallets'

Payments Source

Merchants sued Visa and MasterCard in 1996 when the card networks forced them to "honor all cards," and though the suit settled in 2003, the wounds are reopening with the spread of mobile wallets. regulation-compliance retail-acquiring association processing mobile technology

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REPAY Buys BillingTree For $503 Million In Cash, Stocks


BillingTree was founded in 2003 and has worked in providing omnichannel integrated payment solutions for healthcare, credit unions and accounts receivable management companies.

Palantir Raising Nearly $1B From Investors


Palantir, founded in 2003, sells software to government agencies and companies for managing and analyzing their data.

Amazon Covertly Working On Cold Vaccine


According to a 2003 study by the University of Michigan, the cold costs the U.S. Amazon has been secretly working for years to cure the common cold with an initiative called “Project Gesundheit,” according to a report from CNBC.

Mattel Sees 10 Pct Jump In Net Sales As Homebound Consumers Buy Toys


million, marking the brand's largest quarterly sales since 2003, Reuters writes.

Walgreens-Backed Healthcare Provider VillageMD Plans IPO


Formed in 2003, VillageMD has plans to raise $500 million in a listing that could come about as of the third quarter, Bloomberg reported, citing unnamed sources.

FTC Looking For Comments On Customer Privacy, Security Amendments


The Safeguards Rule, which went into effect in 2003, requires FIs to develop, implement and maintain a comprehensive information security program. While our original, groundbreaking Safeguards Rule from 2003 has served consumers well, the proposed changes are informed by the FTC’s almost-20 years of enforcement experience.

Is Digitization The Answer To Declining Life Insurance Ownership?

CB Insights

The total number of active US individual life insurance policies has been declining since 2003, and overall premium growth has been relatively stagnant. Life insurance adoption is steadily decreasing.

Alabama-Based Citizens Bank & Trust Chooses Fiserv Technology For Core Processing


Citizens Bank & Trust was established in 2003 and is based in Northern Alabama.

Squarespace Sidesteps IPO For Direct Public Listing


Founded in 2003 by CEO Anthony Casalena, Squarespace had a $10 billion valuation in March.

Flashback: Before Wells Scandal, a Cross-Selling Dust-Up of a Different Sort

American Banker

Unlike Wells Fargo's unauthorized account openings, concerns in 2003 about banks discounting rates on loans in exchange for customers buying investment-banking products were less about consumer protection than the potential harm to credit quality and competition.

Past Macy's CEO Foresees More Retail Store Closings In 2021


We’re going to learn even more when we get through the holiday season,” Lundgren, who served as the department store’s chief executive between 2003 and 2017 and retired from its board in 2018, told CNBC.

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DocuSign announces IPO filing

The Paypers

(The Paypers) Founded in 2003, the US-based e-signature company, DocuSign , has been an anticipated IPO for a while

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FinTech Payment Firm Nuvei Files IPO In Canada


Founded in 2003, Nuvei said its platform connects the major payment card platforms worldwide, and supports more than 450 payment methods and 150 currencies. Nuvei Corp. Canada’s largest private non-bank payment processor, filed for an initial public offering (IPO) in Canada Tuesday (Sept.

Genomics 101: Understanding How The Genomics Revolution Is Changing Medicine

CB Insights

By Nikhil Krishnan (@nikillinit), CB Insights Tech Industry Analyst In 2003, the Human Genome Project was completed after fully sequencing and mapping the genetic code of a human being. While that project cost $3B, the cost to sequence a gene … Continued. Digital Health Life Sciences/Healthcare

Washington Federal Adds Former B of A Exec to Board

American Banker

Lantz, 37, worked at Bank of America from April 2003 to 2010, eventually serving as senior vice president of program management. Washington Federal in Seattle has named Erin Lantz, a general manager of mortgages at Zillow Group, to its board. breaking_news people womenin-banking corporate-governance wa community-banking

BigCommerce Increases IPO Pricing Window To $21-$23 Per Share


BigCommerce Holdings, which was started in 2003 and is based in Austin, Texas, registered $120 million in revenue for the 12-month period that concluded on March 31.

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Intel Unit Case Could Mean Billions In Taxes For Big Tech


The lawsuit was over a 2003 regulation that gave specific instructions on how companies have to account for equity compensation and stock that they pay to workers when figuring out cost balances between a parent company and its foreign counterpart. The 2003 rule made it mandatory for companies to share the costs with foreign subsidiaries more equally.

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McDonald’s Banks On Bakery To Beef Up Breakfast Sales


Breakfast burritos topped the morning menu at McDonald’s in 1991, and McGriddles followed in 2003. It’s been nearly 50 years since McDonald’s started serving up breakfast as part of its daily offerings, but it’s been almost a decade since anything new was added to the morning menu.

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Paya To Purchase Another Payment Platform


Since 2003, TPG has worked with more than 600 municipalities to provide ways for customers to pay their tickets and utility bills digitally. Paya , the Atlanta-based digital payment processor, has signed an agreement to acquire The Payment Group ( TPG ).

Alacriti, Clearing House Team To Push Real-Time Payments Adoption


Founded in 2003, Alacriti , which works with banks and other clients on making the transition to digital payments, said on Tuesday (Oct. A 17-year-old FinTech is teaming up with The Clearing House , one of oldest players in the U.S. financial industry that was founded before the Civil War, to drive adoption of real-time payments across the banking industry.

Financial Services: The Next Generation … where is it?

Chris Skinner

Both economies are what Jim O’Neill threw into the BRICs discussion of 2003, although Brazil and Russia have not performed nearly as well economically or technologically as China and India. I’ve blogged about how I see leadership in the developing (developed now) economies of China and India, and the new innovation models of emerging economies in Sub-Saharan Africa, but not quite in the way in which I see them now.

Ant Group $34B Record IPO Means Big Payday For Jack Ma


He then created Alipay in 2003, which is Ant’s most visible unit. Jack Ma’s Ant Group broke records on Wednesday (Oct. 28), filing the biggest initial public offering (IPO) to date, with expectations of raising $34.4

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People’s Bank Of China Ramps Up Crypto Development


Zhou served as PBoC governor from 2003–2018, a period when the government began cracking down on crypto-related business and activities, including a ban on initial coin offerings. China’s central bank, the People’s Bank of China (PBoC), announced that it has accelerated the development of its own cryptocurrency, reported Cointelegraph on Sunday (Aug. PBoC hosted a video conference on Aug.

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Banks wait on Myanmar reforms

The Banker

Stung by a financial crisis in 2003, Myanmar has since taken a strict line on fiscal prudence but now observers fear this is curbing growth. Banks, both domestic and foreign, are lobbying for reforms to relax the rules on lending, as Peter Janssen reports