Tue.Oct 29, 2024

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Finding BaaS talent is elusive, expensive — and essential

American Banker

Community banks will have to pay more, get creative and train from within to build robust banking-as-a-service divisions that can withstand higher regulatory standards.

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3 Key Insurance Takeaways from InsureTech Connect 2024

Perficient

The 2024 InsureTech Connect (ITC) conference was truly exhilarating, with key takeaways impacting the insurance industry. Each year, it continues to improve, offering more relevant content, valuable industry connections, and opportunities to delve into emerging technologies. This year’s event was no exception, showcasing the importance of personalization to the customer, tech-driven relationship management, and AI-driven underwriting processes.

Industry 473
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How open banking will shape the future of payments

Payments Dive

The Consumer Financial Protection Bureau released its final open banking rule this month, leading the payments and financial services industries to begin preparing for a new era in data-sharing.

Payments 475
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Santander to cut more than 1,400 jobs in UK amid increasing automation

TheGuardian

News of redundancies comes as UK division delays publication of results after car finance court ruling Santander is cutting more than 1,400 jobs across its UK business this year as part of its efforts to reduce costs. The Spanish bank’s chief executive officer, Hector Grisi, confirmed the cuts as its UK division delayed publication of its latest financial results to consider the impact of an influential court ruling linked to commission on car finance.

Industry 109
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Stop Identity Fraud Before It Starts: The Verification Method That Works

Identity fraud costs businesses billions as fraudsters create perfect fake IDs that fool traditional verification methods. Visual inspection and OCR technology fail because modern fakes are nearly undetectable to human eyes and basic scanning. Even machine learning struggles with lighting, focus, and sophisticated counterfeits. The shocking truth: most verification only checks what you can see, ignoring the authoritative data hidden in ID barcodes.

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MoneyGram replaces CEO, naming former Walmart executive to the role

Payments Dive

The money transfer company named the new CEO just weeks after a cyberattack led to a systemwide shutdown of its services for several days.

Company 221

More Trending

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Understanding payment glitches vs bugs

ATM Marketplace

The best way to prevent bugs, defects, or glitches and protect your company, your customers, and your shareholders is by rigorously testing everything.

Payments 133
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JPMorgan sues customers over alleged fraud linked to TikTok viral glitch

TheGuardian

US bank accuses four users of stealing about $660,000 in total from ATMs using fake cheques JPMorgan Chase is suing customers in the US it accuses of stealing thousands of dollars from ATMs by exploiting a technical glitch that went viral on TikTok this summer. The US bank has filed lawsuits in at least three federal courts against people who withdrew funds before a cheque bounced, in the so-called “infinite money glitch”.

ATM 93
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Asbury challenges industry to ‘caring, courage, commitment’

ABA Community Banking

In his opening remarks as ABA chair, John Asbury spoke to the core values of Atlantic Union Bank—“caring, courageous, committed”—and used them to frame his goals for the year ahead. The post Asbury challenges industry to ‘caring, courage, commitment’ appeared first on ABA Banking Journal.

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Santander UK delays results as it considers landmark car loan ruling

TheGuardian

Some analysts say court of appeal ruling on mis-selling could cost the bank £1.1bn Business live – latest updates Santander UK has delayed the release of its third-quarter results at the last minute as it scrambles to review last week’s landmark court judgment into car finance misselling that some analysts say could cost the lender £1.1bn. The bank was scheduled to release its latest quarterly earnings report on Tuesday morning, alongside those of its Spanish parent company, Banco Santander.

Report 75
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Why Tech-Forward Tax and Accounting Firms Have the Inside Track to the Future

Speaker: Joe Wroblewski, Sales Engineer Manager

Automating time-consuming manual tasks can save your firm hundreds of hours–and thousands of dollars. But it can also have longer-lasting benefits, like helping you attract and retain the next generation of CPAs, and we don’t need to tell you how important that is amid the current generational staffing crisis in the tax and accounting profession. You'll want to save your seat for this new webinar with industry expert Joe Wroblewski, where we'll explore how to: Maximize ROI with Cost-Effective Te

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Fed rate cut draws applause—and caution—from bankers

American Banker

Bank executives and industry advocates welcomed the Federal Reserve's interest rate reduction but warned that careful planning for future drops is necessary to avoid creating market turmoil.

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Podcast: Rebuilding ‘the great Virginia regional bank’

ABA Community Banking

John Asbury didn't need a new job in 2016, but when he saw an opportunity build something lost in the 1990s, what he calls "the great Virginia regional bank," he took it. The post Podcast: Rebuilding ‘the great Virginia regional bank’ appeared first on ABA Banking Journal.

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5 Things Banking Marketers Should Consider Before Responding to Fed Rate Cuts

The Financial Brand

This article 5 Things Banking Marketers Should Consider Before Responding to Fed Rate Cuts appeared first on The Financial Brand. As Fed rate cuts begin, banks face a slew of risks. From rising delinquencies to deposit strategies, here's how to navigate it. This article 5 Things Banking Marketers Should Consider Before Responding to Fed Rate Cuts appeared first on The Financial Brand.

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Help young workers see your on-the-job coaching as an investment

American Banker

If you want your constructive criticism to land the right way with younger employees, it's important that they see it as evidence of your belief that they have a future in your bank.

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Case Study: Anchor Loans Cuts Doc Prep Time by 90% with GoDocs Automation

Anchor Loans, one of the nation’s top private lenders, turned to GoDocs to modernize its document preparation process and keep pace with growing loan volume. By automating doc generation and integrating seamlessly with internal systems, Anchor Loans drastically reduced prep time and minimized risk—without adding headcount. Learn how GoDocs helped Anchor Loans begin finalizing loan packages in just minutes, enabling faster, more scalable lending with real-time compliance across 48 states.

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5 Highlights of Jack Henry Connect 2024 | FinTalk

Jack Henry

This year’s Jack Henry Connect was a remarkable event that captured the spirit of community banking while embracing the continuously shifting world of technology.

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Citi to move risk models, workforce and customer apps to Google Cloud

American Banker

Through a multiyear agreement, Citigroup is cloudifying the way it delivers software to employees, customers and its markets business.

Google 81
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Transak data breach affects over 92,000 users following phishing attack

The Paypers

Transak , a firm providing crypto on-ramp services, has recently reported a data breach impacting over 92,000 users due to a phishing incident.

Data 74
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Treasury launches new financial inclusion push 

American Banker

Treasury Secretary Janet Yellen announced an initiative aimed at enhancing financial inclusion. The plan includes calling on U.S. banks to participate in upholding fairness and expanding consumer financial access.

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Live Demo - Supercharge your Month End Close

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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allpay attains ISO 27001:2022 Certification

The Paypers

allpay has announced that it achieved the ISO 27001:2022 Certification, representing a significant advancement from the earlier 2013 version.

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SBA loan sizes keep falling as banks lean into small-dollar lending

American Banker

The average size of a Small Business Administration 7(a) loan has fallen to just over $400,000, a level last reached in 2017, according to agency statistics.

Lending 66
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Mesh and Shift4 partner to enable global crypto payments for merchants

The Paypers

Mesh , a platform designed to simplify connectivity in crypto transactions, has announced an integration with Shift4 , a provider of integrated payments technologies.

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7 Steps to Apply for a Private Lending Bridge Loan Multifamily

Commercial Lending USA

Navigate the complex world of multifamily financing. Learn how to secure a private lending bridge loan in 7 simple steps.

Lending 59
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Commercial Lenders, Playing It Safe Is the Real Risk

Why Legacy Lending Workflows Are Costing You More Than You Think Legacy systems and manual workflows might feel familiar, but they come with growing risks—compliance gaps, costly delays, and lost opportunities. This guide breaks down why clinging to traditional processes is no longer sustainable and how automation can help lenders regain control, improve efficiency, and reduce risk across the closing process.

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PayPal's AI bet boosts its recovery

American Banker

The payment company's high-tech Fastlane checkout system helped third-quarter adjusted earnings best Wall Street's expectations, though analysts expressed some concern about momentum carrying into 2025.

System 53
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The man with the transformation plan

ABA Community Banking

Meet John Asbury, ABA’s 2024-25 chair and CEO of Atlantic Union Bank. The post The man with the transformation plan appeared first on ABA Banking Journal.

Meeting 52
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Treasury launches new financial inclusion push

American Banker

Treasury Secretary Janet Yellen announced an initiative aimed at enhancing financial inclusion. The plan includes calling on U.S. banks to participate in upholding fairness and expanding consumer financial access.

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Online Payment Platform expands services with FCA-approved EMI licence

The Paypers

Online Payment Platform , a payment service provider specialising in platform and marketplace transactions, has been granted an EMI licence by the UK’s FCA.

Online 36
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Leverage Trellis Court Data To Identify More Investment Opportunities

Finance teams find Trellis to be particularly effective in conducting comprehensive due diligence on both individuals and businesses. With our court data solution, financial experts can access critical litigation insights, making it an invaluable resource for informed decision-making in the financial sector.