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.

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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.

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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.

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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.

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Fintech Digital Banking Technology 97

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

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Gonzobanker

MAY 23, 2024

It’s “leave your emotions at the door” time when making a core system decision. Esteemed Gonzo readers, let’s get right to one of the core challenges in banking. Every financial institution needs to get real, tangible returns on every technology investment it makes, and core systems are a critical piece in increasing or hurting these returns.

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South State Correspondent

MAY 20, 2024

In last week’s article ( here ), we discussed why category and geographic diversification may be unfeasible for many community banks. We concluded that after a community bank sets limits on loan categories, the added benefit of geographic or loan category diversification is nullified. We discussed three main reasons why community bank diversification by geography and loan category does not enhance community banks’ resilience or performance.

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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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Jeff For Banks

MAY 20, 2024

On August 26, 2021, ISIS-K detonated a deadly bomb outside of the Abbey Gate of Kabul's international airport. The blast killed 13 U.S. service members and 170 Afghans. It occurred amidst the chaos of the U.S. withdrawal from Afghanistan. The pullout was indeed chaotic and marked by a series of rapid events that unfolded unpredictably. Here's a sequence of events: Initial Plans The withdrawal was part of a broader plan initiated by the Trump Administration and continued by the Biden Administrati

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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.

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New York

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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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.

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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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Fintech 111

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

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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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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,

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Trends 93

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.

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Cards Regulation 243

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.

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BankInovation

MAY 20, 2024

JPMorgan Chase considers customer needs, competition and time to market when approaching product launches for small-business clients. “We really try to keep the small-business owner at the center of all of that innovation process at Chase for Business,” Jameson Troutman, head of product for small business at JPMorgan Chase, told Bank Automation News.

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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

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.

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The Paypers

MAY 20, 2024

Spain-based Santander , in collaboration with Iberpay , has announced that it processed one of the first instant transfers based on the EPC’s OCT Inst scheme.

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Payments Dive

MAY 24, 2024

Business use of digital wallets rose last year more than their use of many other forms of payment, according to a survey commissioned by the Federal Reserve’s financial services unit.

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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.

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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.

Marketing

BankInovation

MAY 24, 2024

The Clearing House’s Real Time Payments network and The Federal Reserve’s FedNow network are prepared to tackle interoperability eventually — but for now, its value remains minimal.

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Payments 64

TheGuardian

MAY 20, 2024

Bim Afolami’s comments distance British government from protectionist moves by US The UK cannot afford to give the “cold shoulder” to China, the City minister said on Monday, in comments that will distance the British government from the Biden administration’s protectionist crackdown. Addressing financial services bosses at the City Week conference in London’s Guildhall, Bim Afolami said it was “crucial” to engage with strategic competitors such as Beijing, and that the UK risked losing control

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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.

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Payments 69

Payments Dive

MAY 20, 2024

Young consumers are open to using the peer-to-peer payments app as their primary bank, but many say they won’t switch because they value having a physical branch.

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Payments 243

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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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