Fri.Sep 20, 2019

Visa B2B Connect Live In 62 Countries, Adds Infosys As Integration Partner

PYMNTS

Visa announced today that Visa B2B Connect is live in 62 countries, and has added Infosys as a new integration partner.

Banks struggling to maintain profits amid payments transformation: Study

Mobile Payments Today

A report by Aite Group shows that banks are struggling to turn a profit on their existing payments business, amid an industrywide transition to a real-time payments environment. Banks will be forced to make significant changes in how those businesses continue to operate moving forward

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Cross River CEO: ‘High-profile fintech folks’ interested in its real-time payments rollout

Bank Innovation

Cross River Bank, the partner bank for large fintech startups like Stripe and Affirm, is using The Clearing House’s real-time payments (RTP) network to enhance service to clients and boost its value proposition to future ones.

Amazon To Build Logistics Capabilities With Carbon-Neutral Electric Trucks

PYMNTS

With the formation of an in-house armada of carbon-neutral delivery trucks, Amazon will soon integrate another step of the online shopping pipeline.

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Aligning with ‘leaders’: OakNorth’s Nooriala on its partnership strategy

Bank Innovation

In a bid to grow its customer base, OakNorth Bank is partnering with Smarterly, a workplace savings and investment platform, the company announced this week.

Tapping Tech To Take The Misery Out Of Moving

PYMNTS

In the annals of digital age start-ups, stories of a business founded in dorm rooms are a dime a dozen. Some stories are more dramatic than others — but they tend to have some common elements: an Ivy League student, a laptop and late-night hours soaked in Red Bull are all common and recurring themes.

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Weekly Wrap: Revolut rolls out Gen Z account, as UnionPay expands globally

Bank Innovation

Welcome to the latest episode of our weekly wrap video series, for the week ending Friday, September 20, 2019.

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Goldman shows bright future for banks, if not for bankers

Bank Innovation

(Bloomberg Opinion) — The continuing debate about the future of banking since the 2008 financial crisis has intensified recently on reports that banks are cutting jobs and slashing pay. While the outlook for bankers is precarious, the same can’t be said for the banks. Goldman Sachs Group Inc.

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Is There Anywhere Connected Consumers Won’t Shop?

PYMNTS

It was recently reported that one in 15 purchases are now made between the hours of midnight and 6 a.m. (at at least in the U.K.). According to PYMNTS’ new How Will We Pay 2019 report, this is not surprising. Going shopping has taken on new meaning.

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CUDL Complete Helps Patelco Navigate Processing Hurdles After Robust Indirect Volume Growth

CU Direct

The $7 billion Patelco Credit Union set lofty growth goals for its indirect auto lending program in 2017. With the help of an aggressive rate strategy, the credit union’s indirect team delivered. As of Dec. 31, 2017, the Pleasanton, Calif.-based

How Dogs And Cats Are Pushing More Retail Innovation

PYMNTS

Whether you are a dog or cat person – or prefer another animal – pets are big business, and they are helping to drive innovation in various areas of commerce. That includes ridesharing , believe it or not. SpotOn Founder Aparna Srinivasan was inspired to start her company because of her dogs.

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TD Bank took Epstein money after Deutsche Bank kicked him out

BankThink

After another global bank cut off convicted pedophile Jeffrey Epstein, his wealth found a home at Toronto-Dominion Bank. International banking Crime and misconduct TD Bank Deutsche Bank

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Oversight Broadens Spend Analytics To Fleet Cards

PYMNTS

Spend management firm Oversight Systems is rolling out a new module designed to analyze spend on fleet cards. The company said in an announcement on Thursday (Sept.

Beth Mooney exits, and the CEO boys' club goes on

BankThink

How do you keep the all-male CEO club at the biggest banks intact? Let us count the ways. Could a woman be the next CEO at UBS? Maybe. At Wells Fargo? Less likely. Women in Banking Diversity and equality WIB scan Gender issues Consumer banking Ranjana Clark Suni Harford Beth Mooney KeyCorp

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Ripple Asks Court To Dismiss XRP Securities Lawsuit

PYMNTS

Cryptocurrency exchange and remittance company Ripple has asked a federal judge to dismiss a lawsuit against it on procedural grounds, according to a report by Fortune.

Could financial firms do more in response to data breaches?

BankThink

Democratic lawmakers and consumer advocates say the remedies offered to consumers by firms like Capital One and Equifax are too difficult to access and not particularly helpful. Data breaches Cybersecurity Credit reporting Elizabeth Warren Mark Warner Capital One Equifax Senate Banking Committee

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Bitcoin Daily: SEC’s Clayton: Bitcoin Needs Stronger Regulation Before Trading; Philippines 7-Elevens To Exchange Cash For Crypto Via Abra

PYMNTS

China’s cryptocurrency czar said that while no country is ready to welcome Facebook’s Libra, they might not have a choice. “No

BancPlus to enter Alabama, Louisiana markets with latest acquisition

BankThink

The company will gain 34 branches and $1.2 billion in assets when it buys State Capital in Mississippi. Community banking M&A Growth strategies Mississippi Alabama Louisiana

Keeping Online Counterfeits Off Luxury Marketplaces

PYMNTS

Sales of counterfeit goods, particularly on third-party sites that facilitate transactions between individual buyers and sellers, have skyrocketed with the advent of online shopping.

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Hemp protections added to House pot banking bill

BankThink

Protections for industrial hemp were added to a cannabis banking bill that is expected to get a full House vote next week. Marijuana banking Marijuana industry Regulatory reform Mike Crapo Mitch McConnell House Financial Services Committee

Retail Pulse: Walgreens To Test Drone Deliveries; Walmart To Relaunch Scoop

PYMNTS

Retailers are testing drone delivery to grow their omnichannel offerings and provide “store to door” on-demand service to their customers.

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There are better times ahead for mortgage finance

BankThink

While many lenders lately managed their business expecting reduced volume, now they get to capitalize on extremely low mortgage rates. But today's benevolent conditions will not always be with the industry. Mortgage rates Refinance MSR GSEs FHA Ginnie Mae Fannie Mae Freddie Mac

New Cannabis Holding Company Led By PRØHBTD CEO Raises $25M

PYMNTS

A cannabis consumer goods and marketing holding company led by PRØHBTD CEO and Founder Drake Sutton-Shearer has launched with $25 million in funding, according to a Sept. 20 press release.

Invoice formats- Oracle Projects Considerations Part 7

Perficient Financial Servies

What is a Project Billing Invoice Format? The Oracle projects billing invoice formats determine how invoice lines can be displayed on invoices. Implementers define the width of columns and different data types to appear. Invoice formats also allow free-form text.

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How Spending Cards Lighten Solar Installation’s Financial Burden

PYMNTS

The U.S. construction market is on track to reach $1.8 trillion by 2023. In order for construction firms, contractors and subcontractors to succeed in this market, projects must be completed on time and within a fixed budget.

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Podcast: How FIs can score top-of-wallet placement with contactless cards

ATM Marketplace

Contactless payments have caught on in the U.K., Canada and Australia, but they’re still in their infancy in the U.S. Fiserv's director of payment products explains who uses them and why and how FIs can capitalize on the trend

Facebook Chief Spends Third Day In DC Meeting Lawmakers

PYMNTS

Facebook CEO Mark Zuckerberg spent a third day in Washington, D.C. meeting with lawmakers, according to a report by Bloomberg. The move comes as the social media giant is battling accusations of antitrust impropriety and a lack of proper preparation against misinformation ahead of the 2020 election.

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CFPB investigating BofA, fintechs and fraud, Mooney to retire: Top stories of the week

BankThink

The consumer agency is investigating Bank of America over “potentially unauthorized” accounts; why fintech rollouts are magnets for fraud; KeyCorp’s Beth Mooney to retire next year; and more from this week’s most-read stories.

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Fitbit Reportedly Mulls Possible Sale

PYMNTS

Under its challenges of moving to smartwatches from fitness trackers, Fitbit has reportedly been in discussions with an investment bank surrounding the possibility of looking into a sale.

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Cross River makes jump to real-time payments. Will other small banks follow?

BankThink

Increased adoption of The Clearing House’s faster payments system could put pressure on community banks and credit unions awaiting the launch of the Fed’s competing service, FedNow.

Stripe’s Valuation And The Value Of Real Disruption

PYMNTS

You’d be forgiven for thinking that the WeWork IPO – rather, the shelving of that IPO , at least for now – heralds the end of rich valuations for firms viewed as entrenched in the early stages of disruption.

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Easy credit's latest twist: Loans to companies with no income

BankThink

By turning to investors outside traditional banking, private-equity firms are finding it easier than ever to get loans to finance their buyouts of corporations that are nowhere close to being profitable. Commercial lending Nonbank Private equity Leveraged loans Syndicated loans

Facebook CEO Mark Zuckerberg Meets With Lawmakers, President

PYMNTS

With few, if any, signs that Mark Zuckerberg had made new “friends” to help the firm deal with multiple probes, the Facebook chief executive concluded three days of discussions with movers and shakers in Washington, D.C.

Stripe’s valuation rises to $35B; Bank stocks a buy?

BankThink

The fintech is now worth $10 billion more than its top rival, Square; cost cuts, asset growth and share buybacks could offset the headwinds from low rates. Morning scan Fintech Payment processing Gender issues Career advancement Bank stocks Stripe Federal Reserve Deutsche Bank

Google CEO: Politicians Should Be Cautious About AI Regulation

PYMNTS

Google CEO Sundar Pichai said politicians should take a measured approach when thinking about regulating artificial intelligence (AI), and that many of the rules already in place would work for legislating the new technology.

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Participation Lending: The Hidden Benefits of Changing With the Times

Strategically Speaking

“Participation lending” used to be a phrase uttered only by big-city commercial lenders at the mega banks. They had whole departments, strategies, and products that revolved around it.

Kountable Launches SMB Credit Reports Based On Execution Behaviors

PYMNTS

Kountable announced it has launched credit bureau reporting for SMBs in Rwanda and Kenya based on how well they execute on projects.

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