Tue.Apr 09, 2024

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Visa, Mastercard CEOs throw hearing off track

Payments Dive

Senate Judiciary Committee Chairman Dick Durbin postponed a plan to call credit card chieftains on the capitol carpet at a Tuesday hearing, but he’s still aiming to get them to Washington.

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How To Let Borrowers Choose the Wrong Loan Structure

South State Correspondent

We estimate that the average contractual loan commitment for term credit at community banks has decreased from just under five years in 2022 to just under three years currently. The primary reason for this shift is not a change in borrowers’ business models or banks’ preference for repricing term loans, but rather, borrowers’ decision to seek short-term financing in anticipation of the Federal Reserve embarking on an interest rate cutting cycle.

How To 195
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CFPB, DOJ boost teamwork on cases

Payments Dive

The bureau will refer “potentially criminal conduct,” including “anti-competitive mischief,” to the DOJ for action, CFPB Director Rohit Chopra said Monday.

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Why JPMorgan’s chief data and analytics officer sits on operating committee

BankInovation

JPMorgan Chase’s chief data and analytics officer sits within its operating committee to keep up with ongoing AI investment and implementation bankwide. Appointed in June 2023, Chief Data and Analytics Officer Teresa Heitsenrether serves on the $3.

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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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I’m a victim of scammers. But Revolut says ‘no’ to a refund

TheGuardian

The company seems to hold me entirely responsible for the fact £40,000 was stolen I desperately need help after ­falling victim to a scam resulting in my Revolut business account being emptied of £40,000. The company is refusing a refund. It happened in February while I was staying up a mountain in Italy with no internet and a poor mobile phone signal.

Mobile 103

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OakNorth to provide business banking services in UK

BankInovation

Digital bank OakNorth is in the early stages of testing to provide wire banking services in the United Kingdom. The London-based bank is beta-testing business banking services, including operational accounts, cards and payments, Chief Executive Rishi Khosla told Bank Automation News. Founded in 2015, the $4.

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A material difference: The wood credit card takes root

American Banker

It's a substance that literally grows on trees, and is just as compostable. But like any other proposed alternative to first-use plastic, wood comes at a premium to any issuers that want to adopt it.

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Hiding in Plain Sight

Realwired Appraisal Management Blog

“The appraisal industry has so many opportunities if we work together”, Cindy Chance Ph.D. and CEO of the Appraisal Institute. Cindy was gracious to present at our recent Chief Appraiser FIVA (Financial Institution Valuation Advisors) meeting. 5 Takeaways As an Appraisal Institute member for decades, I get it.

Meeting 59
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Small and midsize business optimism bodes well for credit quality

American Banker

A solid majority of decision-makers at these companies expect to expand their workforces again this year, a Citizens Financial survey found. Loan losses are normally low in eras of economic expansion.

Survey 79
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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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How banks can improve customer experience with surcharge free ATMs

ATM Marketplace

Surcharge free ATMs allow banks to expand their services outside of branches.

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Discover deploys generative AI in its contact center

American Banker

The financial services firm is using Google Cloud's Vertex AI platform to help customer service agents quickly locate and understand policies when answering queries.

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Survey: Community bankers remain concerned about economy, regulation

ABA Community Banking

Community bankers are showing slightly more confidence in the future economic conditions but still have concerns, particularly about regulatory burden, according to the latest Community Bank Sentiment Index/ The post Survey: Community bankers remain concerned about economy, regulation appeared first on ABA Banking Journal.

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Relationship finance app Tandem debuts new goals feature

American Banker

The Ann Arbor, Michigan-based fintech is working with two Michigan credit unions to pilot a service that allows consumers to jointly save for purchases.

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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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Road and Worldline partner for EV charging payments

The Paypers

Netherlands-based EV charging platform Road has partnered with Worldline to address payment processing and regulatory burdens for EV charge point owners.

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Amex bolsters digital design to boost customer satisfaction

American Banker

As American Express has evolved with new products, its largest digital design team is rethinking how to finesse online and mobile design with the customer at the forefront.

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dLocal partners with Papaya Global

The Paypers

dLocal has announced its partnership with payroll and payments platform Papaya Global in order to enable firms to easily handle workforce payments around the world.

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Is 'technofeudalism' killing capitalism?

American Banker

Cloud-based tech giants like Amazon, Google and Uber are changing the economy, and not for the better, asserts Yanis Varoufakis, a former finance minister of Greece and a professor at the University of Athens, who has written a book about the dangers of what he calls the "cloudalists.

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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

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Unlimit leads Paytring's pre-seed funding round

The Paypers

Global fintech company specialising in payments, Unlimit , has become the lead investor in payment orchestration platform Paytring ’s pre-seed funding round.

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Can financial regulation give the people what they want?

American Banker

The populist backlash from the Great Financial Crisis turned the financial regulatory world upside down. Fifteen years later, that populist force is still informing how people vote, how financial regulation is crafted and how regulators see themselves.

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Adyen: UK retail sector loses GBP 11.3 bln to payment fraud yearly

The Paypers

Adyen and the Centre for Economic Business and Research have reported that over a third of UK retail businesses lost on average GBP 1.4 mln each to fraud in 2023.

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BMO drops anti-coal policy amid Wall Street rebuke of ESG

American Banker

The change came to light Monday after West Virginia Treasurer Riley Moore took a victory lap in an announcement of the financial firms it was adding to its boycott list, which doesn't include BMO.

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The State of Automation in Financial Services 2024 Report

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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J.P. Morgan Chase launches Chase Media Solutions

The Paypers

J.P. Morgan Chase has announced the launch of a new unit entitled Chase Media Solutions, in order to allow advertisers to target customers based on spending data.

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We need more transparency and competition in international payments

American Banker

Federal regulators need to mandate full disclosure of total costs for international money transfers, including all exchange rate markups, and to allow nonbanks access to the Fed's payment system.

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Ant Group's partnerships to expand consumer-friendly zones in China

The Paypers

Ant Group has signed 11 partnerships with global e-wallets and card organisations as part of a programme to build international consumer-friendly zones in China.

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NYCB's latest challenge: Losing bankers to competitors

American Banker

The beleaguered Long Island bank has recently seen at least 16 teams walk out the door, according to announcements by Dime Community Bancshares and Peapack-Gladstone Financial.

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Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance

Commercial lending is on the verge of a resurgence, but traditional processes are an obstacle. Explore the top 3 reasons for resistance to digital transformation and how overcoming them can pave the way for growth and efficiency. Discover why embracing automation and digital solutions is crucial for success in today's competitive landscape. Discover how GoDocs helps commercial lenders in the digital era with seamless integration and a borrower-focused approach.