Credit card interest rates reach record
Payments Dive
SEPTEMBER 2, 2022
With the Federal Reserve pushing up interest rates to calm inflation, the average credit card interest rate is climbing, too, reaching a two-decade-plus record in August.
Fri.Sep 02, 2022
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Goldilocks Appears in August Jobs Report
South State Correspondent
SEPTEMBER 2, 2022
Goldilocks Appears in August Jobs Report. Nonfarm payrolls increased 315 thousand while the unemployment rate rose two-tenths to 3.7%. Expectations were for 298 thousand new jobs, so the actual increase was just above expectations but trailed July’s 526 thousand new jobs. The largest gains came in healthcare, professional and business services, and retail trade.
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Go slow on a CBDC, Nacha says
Payments Dive
SEPTEMBER 2, 2022
The biggest payment system in the U.S. recommends limited implementation of a central bank digital currency if the Federal Reserve pursues that digital dollar.
FedNow to launch in summer 2023
BankInovation
SEPTEMBER 2, 2022
The U.S. government’s real-time payments (RTP) service FedNow is slated to launch by mid-2023, with technical testing of the pilot program starting this month. The Federal Reserve will begin rolling out the service between May and July 2023, the agency announced this week. Following the launch, thousands of financial institutions, regardless of geographical location or […].
Elevating Accounting Practices: The Power of Outsourcing and Automation in the Digital Age
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.
Credit Suisse weighs up 5,000 job cuts as part of restructuring plan
TheGuardian
SEPTEMBER 2, 2022
Proposals involve scaling back the investment bank and reducing more than $1bn in costs Credit Suisse is considering 5,000 job cuts as part of a broader restructuring plan meant to solidify the bank’s pivot towards wealth management after a string of scandals at its investment bank. Speculation over the scale of the job cuts has swirled since Credit Suisse unexpectedly replaced its chief executive Thomas Gottstein in July, after a tumultuous two-year tenure beset by financial losses, controversi
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Movers and Shakers: MX names new CTO
BankInovation
SEPTEMBER 2, 2022
Open banking fintech MX has appointed Wes Hummel as its chief technology officer, a role in which he will oversee the company’s engineering and information security teams and report to Chief Executive Jim Magats. “[Wes] brings a tremendous amount of experience building and leading high-impact engineering teams at the world’s leading technology and fintech companies,” […].
An Interview With Two Billionaires In 2042
Perficient
SEPTEMBER 2, 2022
A metaphorical interview about the collapse of NFTs and what it possibly means for the future. Good morning. Today, financial correspondent I.D. Futchermann will be interviewing legendary finance executive Richard Tan Yu. I.D Futchermann: Let’s start with you, Richard. How did you get started? Richard Tan Yu: Well D, after graduating as a history major in 2021, I got a job at a bank.
Bank of America invests in student cybersecurity talent
BankInovation
SEPTEMBER 2, 2022
Citing 500,000 unfilled cybersecurity positions in the U.S., Bank of America has announced a partnership with Liberty Science Center in New Jersey to help high school STEM students in underserved areas acquire cybersecurity skills, and potentially, jobs. The $3.1 billion Charlotte, N.C.-based bank said the dearth of cybersecurity professionals was impetus for the program in […].
UK: strategy sprints for Open Banking revealed
The Paypers
SEPTEMBER 2, 2022
The Strategic Working Group (SWG) under the Joint Regulatory Oversight Committee (JROC) has revealed its plans for a series of virtual thematic ‘strategy sprints’, according to Open Banking Expo.
Digital Transformation: Accelerating ROI and Growth in Commercial Lending
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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
OneID partners with DocuSign for identity verification
The Paypers
SEPTEMBER 2, 2022
UK-based identity tech company OneID has partnered with DocuSign to provide government-certified identity verification to the company’s electronic signature solution, eSignature.
Trovata signs global distribution agreement with Santander
The Paypers
SEPTEMBER 2, 2022
US-based Trovata , a fintech operating in automating cash workflows through multi-bank API data aggregation, has announced a global distribution agreement with Santander.
The State of Automation in Financial Services 2024 Report
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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
Huntington pledges to disclose financed emissions within two years
American Banker
SEPTEMBER 2, 2022
OneCommerce expands by absorbing more than 12 ecommerce solutions
The Paypers
SEPTEMBER 2, 2022
OneCommerce , a Vietnam-based platform specialising in improving ecommerce merchant sales, has integrated more than 12 ecommerce solutions under its name.
ING and CCV's app turns phones into payments terminals
The Paypers
SEPTEMBER 2, 2022
ING and CCV have developed a business app that turns Android smartphones/tablet into a mobile cash register and payment terminal for contactless payments.
Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance
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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.
Startup aims to attract thin-file cardholders with larger limits, rewards
American Banker
SEPTEMBER 2, 2022
Ondato introduces virtual appointments with face biometrics for KYC
The Paypers
SEPTEMBER 2, 2022
UK-based fraud prevention company Ondato has launched a virtual branch service solution that enables banks to provide virtual face-to face appointments.
Exclusive conferences prove regulators are still too cozy with banks
American Banker
SEPTEMBER 2, 2022
Swiss department store Globus partners with Swisscard
The Paypers
SEPTEMBER 2, 2022
Swiss department store chain Globus has teamed up with credit card company Swisscard to offer American Express Platinum Card holders exclusive benefits.
2024 Lending Outlook: Innovations and Evolutions in the Financial Sector
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As we step into 2024, the lending landscape evolves rapidly with technology, regulations, and market dynamics driving change. For banks and financial institutions to stay competitive and meet the evolving needs of their customers, these drivers must be understood and engaged with. Lenders can anticipate significant transformation fueled by technological advancements, regulatory shifts, and changing consumer behaviors.
Tech companies join 'sandbox' to test central bank digital currency ideas
American Banker
SEPTEMBER 2, 2022
Credas adds Open Banking-powered financial checks
The Paypers
SEPTEMBER 2, 2022
Credas has added financial checks to its offering via its new Open Banking module, enabling customers to connect with different account providers.
OCC requires Blue Ridge Bank to improve monitoring of fintech partners
American Banker
SEPTEMBER 2, 2022
kevin. partners with Switchio by Monet+
The Paypers
SEPTEMBER 2, 2022
kevin. , a Lithuania-based fintech, has partnered with Switchio by Monet+ , an independent software platform managing payment terminals in Europe.
Top 10 Benefits of Automating Loan Modifications for Commercial Lenders
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Get ready for the wave of $1.2 trillion in commercial debt maturing in the next 24 months with GoDocs' ModDocs® platform. Traditional loan modifications are slow, expensive, and prone to errors, which put lenders at risk. But with ModDocs®, you can enjoy an innovative solution that eliminates attorney fees, allows on-the-fly loan modifications, and ensures compliance.
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