Visa preps for US pay-by-bank services
Payments Dive
MAY 28, 2024
The card network is focused on “stubborn categories” where large account-to-account payments have taken hold, such as in healthcare, education and rent, a Visa executive said.
Payments Dive
MAY 28, 2024
The card network is focused on “stubborn categories” where large account-to-account payments have taken hold, such as in healthcare, education and rent, a Visa executive said.
ATM Marketplace
MAY 28, 2024
At a time when a seamless customer journey is more important than ever, vertical integration allows organizations to prioritize customization, increase connectivity and develop software and hardware systems that keep customers happy and engaged.
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Payments Dive
MAY 24, 2024
Block’s Jack Dorsey wants to improve Cash App’s customer service experience in order to entice more users to make it their primary bank, he said this week.
South State Correspondent
MAY 22, 2024
Between now and the end of 2027, it is estimated that $2.2T of office loans is coming due. Much of this product lies on banks’ balance sheets. A high percentage of those office loans on banks’ balance sheet are balloon structures where the bulk of the loan’s principal is due. Equally worrisome is the large number of loans on banks’ balance sheets that are due for a rate reset where the interest rate will be almost double, thereby putting stress on borrowers.
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Automation generally supercharges any process and brings its value to the forefront. See how infusing automation such as ART (our month-end close solution), into your close can get you to the next level of closing. We will share a live demo of SkyStem's solution, ART and share the key elements of month-end close automation. Through ART, we'll take a look at: What month-end close automation entails Which process steps can and should be automated Benefits of achieving process automation, and Why i
BankInovation
MAY 23, 2024
TD Bank is exploring the use of generative AI within its institution through pilot programs. “Understanding how generative AI can be used to augment the work of our colleagues has always been our focus,” Imran Khan, head of TD Invent, the bank’s innovation arm, told Bank Automation News.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Jack Henry
MAY 24, 2024
What’s more extensible than a product that allows you to solve a variety of use cases by combining components to suit your needs? Click to learn more.
Payments Dive
MAY 24, 2024
The retail behemoth and its credit card issuer said in a terse, joint press release Friday that they’re parting ways.
ABA Community Banking
MAY 23, 2024
Roughly 30% of military families cite low income and lack of stability as a “primary challenge” they face with their current financial products and services, according to a new survey by the Fort Leavenworth, Kansas-based Armed Forces Bank. The post Bank survey: Military families cite low income, inflation as financial product challenges appeared first on ABA Banking Journal.
BankInovation
MAY 22, 2024
JPMorgan Chase has identified three uses for generative AI to boost efficiency. “AI, and particularly large language models, will be transformational,” Chief Operating Officer Daniel Pinto said during the bank’s Investor Day on May 20, noting that the bank has been investing in AI for “a number of years.” The $3.
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Dive into the complexities of New York lien laws with our comprehensive eBook, 'New York Lien Law Essentials: 5 Key Facts for Commercial Lenders.' In this detailed guide, we explore the critical formalities necessary for lenders navigating ground-up construction and fix-and-flip projects in the New York market. From documentation requirements to the implications of non-compliance, learn how to safeguard your lending position and prioritize legal adherence.
Commercial Lending USA
MAY 21, 2024
DSCR loans, "Debt Service Coverage Ratio loans," are financing for real estate investors that put the property's cash flow ahead of standard creditworthiness checks. This makes them a valuable tool for investors who want to grow their portfolios.
BankUnderground
MAY 23, 2024
Marco Garofalo, Giovanni Rosso and Roger Vicquery Most international trade is denominated in dominant currencies such as the US dollar. What explains the adoption of dominant currency pricing and what are its macroeconomic implications? In a recent paper , we explore a rare instance of transition in aggregate export invoicing patterns. In the aftermath of the depreciation that followed the Brexit referendum in 2016, UK exporters progressively shifted to invoicing most of their exports in dollars
TheGuardian
MAY 26, 2024
First-quarter earnings show £580m pool, reflecting increase in share price as bonus cap scrapped in UK London bankers at Goldman Sachs have seen their pay pot jump by more than 20% so far this year, as the bank’s surging share price added to the prospect of bumper payouts after bonus caps were lifted in the UK. Filings covering Goldman Sachs International’s (GSI) first-quarter earnings show that it built up a $735m (£580m) pay pool in the three months to March, averaging out at about $218,000 (£
BankInovation
MAY 22, 2024
Fintech Lili, which provides a business platform for small and medium-sized businesses, has teamed up with Amazon Web Services to deploy a generative AI-driven chatbot for its customers.
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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
American Banker
MAY 22, 2024
The Consumer Financial Protection Bureau issued a new interpretive rule designating buy now/pay later lenders as credit card providers, subjecting those services to consumer protections like the right to dispute charges and receive refunds.
Payments Dive
MAY 28, 2024
The big bank-backed digital wallet is now accepted by about 80,000 "primarily small" merchants according to Early Warning Services Managing Director James Anderson.
TheGuardian
MAY 21, 2024
While the big beasts of Wall Street rail against WFH, Mike Regnier of Santander UK says he wouldn’t have taken the job if he had had to commute all week At a time when banking bosses from Wall Street to Canary Wharf have been cracking down on working from home, Santander UK’s chief executive remains an outlier. While Goldman Sachs’s David Solomon has described home working as an “aberration” , and JP Morgan’s Jamie Dimon calls himself a “skeptic” of the trend that took off during the pandemic,
BankInovation
MAY 28, 2024
Lia Cao, global head of embedded finance and solutions at J.P. Morgan Payments, is focused on meeting consumers where they want to be met through integrated banking services. “Consumer demand is driving significant interest in embedded banking and alternative payment methods,” Cao told Bank Automation News. To keep up with demand, J.P.
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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.
ATM Marketplace
MAY 21, 2024
ATM Marketplace spoke with Bank of America about the Erica chatbot and its continued development as an AI banking tool.
American Banker
MAY 22, 2024
Executives from JPMorgan Chase, Bank of America and Wells Fargo are expected to get grilled in Congress this summer over victims of Zelle scams who don't get reimbursed. A Senate panel has spent much of the last year examining fraud on the bank-owned payments network.
Payments Dive
MAY 21, 2024
“Whether a shopper swipes a credit card or uses Buy Now, Pay Later, they are entitled to important consumer protections under longstanding laws and regulations,” CFPB Director Rohit Chopra said.
Alex Jimenez
MAY 28, 2024
For the past few years I’ve noticed that more and more banking and banking technology articles about the future of banking seem to be informed by dubious claims. The writers derive these claims from customer opinion polls and immediately jump to conclusions without understanding survey methodology. Some researchers and consultants conduct customer opinion surveys with biased questions and limited responses.
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.
BankInovation
MAY 28, 2024
Scotiabank saw digital adoption among customers and its tech spend tick up during its fiscal second quarter 2024. The Toronto-based bank reported active mobile users increased 10% year over year to 4.3 million, while its digital adoption rate increased 2.7% YoY to 64.5% in Canada in the quarter ended April 30.
The Paypers
MAY 22, 2024
The Hong Kong Monetary Authority ( HKMA ) and the People’s Bank of China ( PBoC ) have advanced the e-CNY pilot for cross-boundary payments, expanding its scope in Hong Kong.
American Banker
MAY 24, 2024
Analyzed from a property rights perspective, the dividends paid by the Federal Home Loan banks to their members are surprisingly stingy, and vary wildly between the different banks.
Payments Dive
MAY 23, 2024
“All parties in the payments ecosystem would benefit greatly from state laws that provide clarity and consistency between jurisdictions,” write two legal professionals.
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Most people dread the nearing of the month-end close and reconciliation process, and who can blame them? It's typically a tedious, long, stressful process; but it doesn't have to be. Implementing automation into your month-end process can significantly reduce this headache by automating up to 40% of your reconciliation and saving nearly 30% of your time spent.
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