Thu.Sep 10, 2020

Open banking gives Amex a way to grow beyond credit cards in Europe

Payments Source

American Express is expanding into the fast-growing European market for open banking-based payment initiation services with its Pay with Bank transfer platform. Fintech Digital payments American Express Europe Mastercard Visa

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Alt Lending: American Banks as agents of Social Change?

Daily Fintech

Pandemic and protests.

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Why Faster Payments Council is adding Goldman, Netflix and other advisor voices

Payments Source

The pandemic has spurred a major push toward speedier digital transactions, making it an expeditious time for the Faster Payments Council to expand the range of input it gets to expand its mission. Goldman Sachs Federal Reserve Faster payments Netflix Payment processing

XBRL News: BIS on regtech, 2021 SEC taxonomies and big data for credit

Daily Fintech

Here is our pick of the 3 most important XBRL news stories this week.

Intelligent Process Automation: Boosting Bots with AI and Machine Learning

Across all sectors, companies are learning that they can transform their businesses by embracing Intelligent Process Automation, or IPA. With the pairing of AI and RPA, IPA adds a new layer of intelligent decision-making processes to automated RPA tasks. By automating repetitive work, and adding the ability to automate intelligent decision making, intelligent automation frees up your most valuable resources – your employees – to spend more time on higher value and more strategic work. But in order to reap the rewards of Intelligent Process Automation, organizations must first educate themselves and prepare for the adoption of IPA. In our ebook, Intelligent Process Automation: Boosting Bots with AI and Machine Learning.

NAB, Commonwealth Bank launch no interest cards to counter POS credit trend

Payments Source

As no-cost buy now, pay later (BNPL) financing options apply pressure on traditional issuers, NAB and Commonwealth Bank of Australia (CBA) are rolling out no-interest credit cards

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More Trending

How Colleen Taylor created new rungs in her long payments career

Payments Source

In her steady advance up the payments industry career ladder, Colleen Taylor has pursued a consistent theme of taking on challenging roles at pivotal moments, which has propelled her trajectory. Wells Fargo American Express JPMorgan Chase Cards Capital One

Live Webinar: Retail banks, rethink the cost of your cash distribution network

ATM Marketplace

ATM Marketplace is hosting a live webinar on Sept.17 that will look at dealing with a "less-cash" society instead of a cash-less one. It's time for retail banks to rethink the cost of cash and drive change.

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Hybrid work makes integrated payments more important than ever

Payments Source

Integrated payments have rapidly become critical to maintaining, and in some cases improving, operational stability, says Paya's Jeff Hack. Digital payments B-to-B payments Coronavirus Payment processing

Citi picks Fraser to be next CEO as Corbat to retire in February

American Banker

Jane Fraser, a longtime Citigroup executive, will be the first female CEO of a major Wall Street bank. She succeeds Michael Corbat, who had held the post for eight years. Michael Corbat Jane Fraser Citigroup Succession planning Women in Banking

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The Best Sales Forecasting Models for Weathering Your Goals

Every sales forecasting model has a different strength and predictability method. It’s recommended to test out which one is best for your team. This way, you’ll be able to further enhance – and optimize – your newly-developed pipeline. Your future sales forecast? Sunny skies (and success) are just ahead!

Buyer Beware: FinTechs are Taking Over Business Banking

Strategically Speaking

small businesses contribute to nearly half of US employment , which means small businesses have been and continue to be the glue that holds communities together. In some cases, generations of families commit their lives to their small businesses.

US banks call for federal data sharing standards

Bobsguide

Federal data protection standards must be created to allow open banking to take off in the US, said Abishek Gupta, head of BBVA Open Platform, BBVA during a Fintech Talents North America panel yesterday. “I agree there has to be some minimum standards across all of those principles to

Amex hires Wells Fargo's Colleen Taylor to lead U.S. merchant services

Payments Source

American Express hired Taylor to oversee its efforts to entice more U.S. merchants to accept the firm's cards. American Express Merchant Credit cards

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DOJ has filed over 50 PPP fraud cases

American Banker

The 57 charges involve $175 million allegedly stolen from the small-business loan program. Defendants are accused of lying on their applications and using funds to buy cars, jewelry and other luxury items.

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How Banks Are Winning with AI and Automated Machine Learning

Banks have always relied on predictions to make their decisions. Estimating the risks or rewards of making a particular loan, for example, has traditionally fallen under the purview of bankers with deep knowledge of the industry and extensive expertise. But times are changing. Today, banks realize that data science can significantly speed up these decisions with accurate and targeted predictive analytics. By leveraging the power of automated machine learning, banks have the potential to make data-driven decisions for products, services, and operations. Read the white paper, How Banks Are Winning with AI and Automated Machine Learning, to find out more about how banks are tackling their biggest data science challenges.

Citi picks Fraser to be next CEO as Corbat to retire in February

Payments Source

Jane Fraser, a longtime Citigroup executive, will be the first female CEO of a major Wall Street bank. She succeeds Michael Corbat, who had held the post for eight years. Michael Corbat Jane Fraser Citigroup Succession planning Women in Banking

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No easing into the job for Citi’s Fraser

American Banker

When Jane Fraser takes the reins of Citigroup in February, she will have to tackle the company’s cards slump, lagging performance metrics and challenges presented by employees’ return to the office.

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BMO, Interac team to power faster business billing

Payments Source

With businesses requiring stronger liquidity, BMO will use its online platform and Interac's receivables service to support simultaneous near real-time payment requests to multiple recipients. Canada B-to-B payments Bank of Montreal Interac

Where The Top 25 Property And Casualty Insurers Are Investing

CB Insights

New technologies continue to reshape the massive property & casualty insurance space, a market valued at $670B in the US alone.

B2B Pocket Playbook: End-to-End Guide to Sales Enablement

Sales enablement is the strategic process of providing sales teams with the content, guidance, and mentorship needed to engage targeted buyers. It’s all about equipping sales professionals with the tools they need to put their best-selling foot forward. And if sales teams want to continuously sell better -- and faster -- their sales enablement process must have a game-winning strategy. It's time for you to start selling smarter - and hitting your sales number - with the best B2B database in the market. Get started today.

Ambani’s Reliance to offer $20 billion stake in retail arm to Amazon

Payments Source

Indian billionaire Mukesh Ambani’s Reliance Industries Ltd. is offering to sell a roughly $20 billion stake in its retail business to Amazon.com Inc., according to a person with knowledge of the matter. India Amazon Digital payments E-Commerce

COVID-19 to fuel mobile payment adoption, product expansion by nonbanks

BankInovation

The COVID-19 pandemic has boosted mobile payment adoption in the U.S. and led to record growth among multiple nonbank payment providers.

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Small Texas bank doubles down on hotel lending

American Banker

At a time when many lenders are shying away from an industry hit hard by the pandemic, State Bank of Texas is going all in. C-suite Coronavirus Growth strategies Community banks Hospitality and lodging Commercial real estate lending

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BI Build: HSBC’s Anthony Glover talks international client onboarding

BankInovation

HSBC has doubled down on streamlining its international client onboarding. “We We have retail networks all over the globe,” said Anthony Glover, executive vice president and head of U.S. retail banking at HSBC, during the fully digital Bank Innovation Build conference today.

How Banks Are Winning with AI and Automated Machine Learning

Banks have always relied on predictions to make their decisions. Estimating the risks or rewards of making a particular loan, for example, has traditionally fallen under the purview of bankers with deep knowledge of the industry and extensive expertise. But times are changing. Today, banks realize that data science can significantly speed up these decisions with accurate and targeted predictive analytics. By leveraging the power of automated machine learning, banks have the potential to make data-driven decisions for products, services, and operations. Read the white paper, How Banks Are Winning with AI and Automated Machine Learning, to find out more about how banks are tackling their biggest data science challenges.

Essential credit union employees in Mich. eligible for education perks

American Banker

A new program will provide tuition-free schooling opportunities for those who stayed on the job during the state's lockdown earlier this year. Professional development Coronavirus Michigan Essential Workers

BI Build: Citi’s Colella zeroes in on cybersecurity

BankInovation

Citi Chief Innovation Officer Vanessa Colella has been searching for signals to discern the direction of the $1.95 trillion bank’s innovation and venture funding efforts. These days, the signs point to cybersecurity.

NCUA awards $75K in mentoring grants

American Banker

A trio of small credit unions designated as minority depository institutions have been matched with larger institutions to improve outreach to low-income and underserved consumers. Mentoring Credit unions Financial inclusion NCUA Under-served populations

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Sustainable Banking: A Guide to Taking Action

ATM Marketplace

Drive positive social and environmental impacts through financial inclusion and green operations

Pressure Points: How to Ensure Your B2B Pipeline Passes Inspection

This eBook highlights best practices for developing a pipeline management process that helps sales leaders and their team C.L.O.S.E (you’ll see what we mean in this eBook) more revenue through data-driven prospecting, stage analysis, and subsequent sales enablement.