Wed.Nov 15, 2023

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Affirm adds account to bolster card

Payments Dive

The buy now, pay later provider’s account will offer savings-level interest, ATM access and direct deposit, Affirm executives said.

ATM 221
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Predatory Loan Prevention Bill Introduced in Florida to Codify “True Lender” Analysis

CFPB Monitor

Florida SB 146, a bill that would add a “Predatory loan prevention” section to the Florida Consumer Finance Act has been introduced in the Florida Senate, seeking to curb bank-model lending programs and codify a “true lender” analysis with language similar to legislation enacted in Minnesota and other states within the past three years.

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ADP, Convera partner on payroll, payments

Payments Dive

The two companies have collaborated to integrate Convera’s payments services into ADP’s payroll software.

Payments 221
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'Everybody is on edge.' How Israel's fintech workers are enduring war.

American Banker

With employees regularly fleeing to bomb shelters — and some being called away to military service — these technologists must still serve a global clientele while confronting fear and destruction at home.

Fintech 92
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Case Study: First Mid Bank Fast-Tracks New Market Entry in Commercial Lending

Discover First Mid Bank's Expansion Success with Our Case Study! Discover how First Mid Bank & Trust fast-tracked market expansion through advanced automation and compliance solutions. This case study reveals their journey from facing challenges in Texas' complex legal landscape to achieving rapid market entry with GoDocs' innovative commercial closing platform.

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It’s Never Too Early For More Efficient Customer Service

BankInovation

It’s that time of year again: The leaves are changing color, the days are getting shorter, the smell of pumpkin spice is in the air… and you just might happen to spot Christmas trees and reindeer lining store shelves.

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Fifth Third CIO to speak at Bank Automation Summit U.S. 2024

BankInovation

Jude Schramm, executive vice president and chief information officer at Fifth Third Bank, will speak on the panel “The AI revolution in banking: A road map for the future” at Bank Automation Summit U.S. 2024 on Monday, March 18, at 1:15 p.m. CT.

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'You're responsible. Period.' Banks take fire for fintech partnerships

American Banker

At the American Fintech Council's 2024 policy summit, banking-as-a-service was the talk of the town as experts shared how to avoid missteps in the business.

Fintech 89
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EverBank selects FIS’ Digital One banking platform

BankInovation

EverBank, formerly TIAA Bank, is converting its consumer digital banking operations to FIS’ Digital One to kick off 2024. TIAA completed the sale of its subsidiary TIAA Bank to private investors in August and the bank has now rebranded as EverBank, according to an EverBank release. As the $34.6 billion, Jacksonville, Fla.

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Credit Union Executive of the Year: Maui County FCU's Gary Fukuroku

American Banker

As CEO, Gary Fukuroku has helped turn the Hawaiian-based institution into one of the largest in the state and has raised significant funds to help those affected by this year's wildfires.

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Exploring the Liability Shift: A Comprehensive Guide to Fraud Loss Responsibility and Mitigation

Shifting liability for digital fraud losses represents a significant challenge for financial institutions and payment service providers. In response to the global surge in digital fraud, regulators are introducing policies that transfer the cost of fraud from defrauded customers to financial institutions. ThreatMark’s newly released white paper, "The Liability Shift: Understanding Fraud Losses Responsibility and Mitigation," provides an in-depth analysis of this shift, its implications, and stra

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European Transactions: Deutsche Bank invests in AI-driven fintech

BankInovation

Deutsche Bank made a seed investment in AI-driven information and documentation processing company Kodex AI last month. The Berlin-based startup raised 1.6 million euros ($1.

Fintech 61
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In latest shake-up, Truist expands its executive leadership team

American Banker

The regional bank announced a near-doubling of the size of its most-senior leadership team, plus expanded roles for two former SunTrust executives and the hiring of a wholesale banking chief from Wells Fargo. Truist is under pressure to improve both its efficiency and its financial performance.

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The National Bank of Cambodia partners with Ant International

The Paypers

The National Bank of Cambodia has signed a MoU with Ant International to offer inbound and outbound cross-border mobile payments in the region.

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Community Banker of the Year: OFG Bancorp's José Rafael Fernández

American Banker

OFG Bancorp's CEO José Rafael Fernández has weathered tough times during Puerto Rico's economic downturn. Now he is hopeful that his bank can seize on the better times ahead.

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Live Demo: How to Achieve Reconciliation Zen

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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TerraPay partners with Maya

The Paypers

UK-based TerraPay has announced its partnership with Maya in order to provide secure and fast cross-border payment for Filipino clients around the world.

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Bank stocks finally bounced back this week. Will the good times last?

American Banker

Share prices climbed sharply amid increased optimism about the outlook for interest rates. Regional banks that got hammered earlier this year were among the biggest winners.

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PayTabs partners with Tabby

The Paypers

Payment solutions provider PayTabs has announced its partnership with Tabby to enable the expansion of ecommerce across the Kingdom of Saudi Arabia and the UAE.

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Michigan State University credit union extends buying spree

American Banker

The $7.7 billion-asset federal credit union in East Lansing announced its third deal in as many months — the planned purchase of in-market peer Gabriels Community Credit Union. And it has two bank acquisitions pending.

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New York Lien Law Essentials: 5 Key Facts for Commercial Lenders

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.

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Feedzai partners with CoreCard

The Paypers

US-based Feedzai has partnered with CoreCard to safeguard the processing market against fraud by leveraging AI-powered defence systems.

Fraud 45
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New Census data hints at slower pace for small business formation

American Banker

A key gauge of activity that tracks startups most likely to create jobs declined in October, potentially signaling the start of a slowdown amid the fallout of high interest rates. It presents a red flag for community banks and credit unions that are major lenders to small businesses.

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We’re Stuffed With Gratitude for Our Clients

Image Works Direct

With full hearts and full bellies, we see the holidays as a time of gratitude and thankfulness. Whether you show this gratitude with cobblers and casseroles or kind words from the heart, it’s the little things that show you care. This Thanksgiving, we hope someone tells you how appreciated you are – and if no one else does, we will!

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After student loan payments restart, 1.4 million Americans risk defaulting on debt

American Banker

Analysts have been debating the impact on household finances and the economy as Americans resume student loan payments. There's already a squeeze from higher interest rates, which are expected to slow consumer spending and economic growth.

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Thinking About How To Lessen Your Burden During Month-End Close? Skystem Can Help!

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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Apiture announces USD 10 Million insider fundraising round

The Paypers

Apiture has announced the closing of a USD 10 million fundraising round led by funds and accounts advised by T. Rowe Price Investment Management, along with other existing investors.

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Small-business bankers share their tech priorities

American Banker

Executives at Capital One, U.S. Bank, BMO and Atlantic Union Bank are striving for seamless onboarding and more efficient branch bankers, among other projects on their technology drawing boards.

Capital 67
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Lynx gets EUR 17 mil to fight fraud and financial crime

The Paypers

AI anti-fraud detection software company, Lynx , has recently announced it secured a Series A funding round of EUR 17 million, with the participation of Forgepoint Capital.

Fraud 36
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Citizens Bank to end wholesale originations

American Banker

Relationships with brokers will be terminated on Dec. 6, but company officials stressed there would be no impact to its loan servicing or other mortgage channels.

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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