Thu.Oct 24, 2024

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AI Regulations for Financial Services: OCC

Perficient

Artificial intelligence (AI) is poised to affect every aspect of the world economy and play a significant role in the global financial system, leading financial regulators around the world to take various steps to address the impact of AI on their areas of responsibility. The economic risks of AI to the financial systems include everything from the potential for consumer and institutional fraud to algorithmic discrimination and AI-enabled cybersecurity risks.

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Industry balks at FDX standard-setting monopoly

Payments Dive

Regulators and industry participants worry that FDX will have an unfair monopoly and will advantage its own members if no other organization applies.

Industry 363
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Does Scale in Banking Lead to Profitability?

South State Correspondent

There are many experts who claim that to achieve profitability, community banks (banks under $10B in assets) must gain scale by acquiring assets. On the surface that seems reasonable but does scale in banking result in better performance for community banks? The answer to that question can be analyzed both empirically and anecdotally, and we believe that the answer is no – for community banks, there is no material relationship between size and performance as measured by return on assets (ROA)

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Payments trade groups caution World Bank on digital infrastructure

Payments Dive

U.S. payments associations urged the World Bank this week to consider interoperability and private sector involvement in its development of a digital public infrastructure.

Groups 221
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It Takes Two to Tango

With automation, you’ll reduce errors and save valuable time, allowing you to focus on what really matters: strategic analysis and insightful decision-making. Picture accurate financial reports ready at your fingertips, giving you the confidence to tackle business challenges head-on. Embracing automation not only boosts productivity but also elevates your role from number cruncher to closing rockstar.

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Festive Discounts: Should You Take What’s on Offer?

BankBazaar

Navigate festive discounts wisely with thoughtful planning and informed choices, ensuring you celebrate joyfully without financial stress. Enjoy the festivities while maximising savings with smart shopping strategies! As the vibrant festival of Diwali approaches, the excitement in the air is palpable. Alongside the celebrations, retailers are gearing up for one of the biggest shopping seasons of the year, presenting a plethora of festive discounts, cashback offers, and tempting financing options

Cards 78

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Intix survey reveals only 1 in 3 banks ready for instant payments regulation

The Paypers

A survey conducted by Intix has shown that banks are facing challenges in meeting the EU's impending deadlines for mandatory instant credit transfers.

Survey 87
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A unified standard for QR codes is the next step in real-time payments

American Banker

With two excellent real-time payments rails now available in the U.S., enabling QR code transactions is essential. The financial services industry needs to come together and establish uniform standards.

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2nd Session Commercial & Residential Investment Bridge Loans

Commercial Lending USA

Looking for commercial loans in the USA? Commercial Lending USA specializes in arranging commercial mortgages for businesses and commercial purposes nationwide. Get the funding you need today!

Lending 76
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The Bank Policy Institute and Kentucky Bankers Association sue CFPB

The Paypers

The Bank Policy Institute and Kentucky Bankers Association have filled a lawsuit against CFPB for jeopardising customers’ privacy and account security with its new rule.

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The 2024 Lenders Guide to Automating the Complex Loan

Download the latest edition of GoDocs' "The Lender's Guide to Automating the Complex Loan." This comprehensive guide offers financial institutions valuable insights into document automation for complex commercial loans. It unpacks the intricacies of complex loans and showcases how an automation platform like GoDocs — the leading commercial loan closing platform — delivers impressive benefits and ROI to any FI.

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1st Session - Introduction to Commercial Lending

Commercial Lending USA

Looking for commercial loans in the USA? Commercial Lending USA specializes in arranging commercial mortgages for businesses and commercial purposes nationwide. Get the funding you need today!

Lending 76
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Eagle in Maryland grinds to a profit, but turnaround in early innings

American Banker

The bank cut its dividend, raised capital, hired multiple top executives and vowed to reduce its commercial real estate concentration after a bruising first half of 2024.

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Ingo Payments and Sardine launch risk-managed instant account funding

The Paypers

Ingo Payments and Sardine have partnered to offer instant, risk-managed account funding via card and ACH, with the added option of a zero-liability fraud guarantee.

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The Fed's big test: Shrink its balance sheet without shocking banks

American Banker

The Federal Reserve is attempting to achieve its own soft landing through quantitative tightening without creating a liquidity crunch for banks. Last year's bank failures could make the process more complicated.

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Confronting the Change Challenge

Change is difficult, whether in our private or work life. However, without change, growth and learning are difficult not to mention keeping up with the market and staying competitive. We have all worked for or ourselves are the bosses that prefer to keep the status quo. We will discuss how to address the "change challenge" to enable you to be a changemaker and a graceful recipient of change.

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PayPal and Global Payments partner for simplifying checkout with Fastlane

The Paypers

PayPal has revealed an expanded partnership with Global Payments aimed at enabling faster guest checkout via Fastlane PayPal for merchants in the US.

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Upstart pivots to prime lending for partners like Alliant Credit Union

American Banker

The credit union has been using Upstart's AI-based loan decision model to help creditworthy consumers consolidate their credit card debt.

Lending 50
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Garanti BBVA partners with Ripple and IBM to expand crypto services

The Paypers

Garanti BBVA Kripto has partnered with Ripple and IBM to enhance the security of its cryptocurrency trading platform.

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California begins registration of financial service providers

American Banker

California's Department of Financial Protection and Innovation is requiring registration by mid-February of debt settlement firms, earned wage access providers, private secondary education financing and student debt relief services.

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Is Your Current Card Platform Holding You Back?

Have you ever felt the pain and loss of a client suddenly going silent, leaving you questioning everything? Ghosting can cause heartbreak; in business, it drains resources, and emotionally, it shatters your confidence. A modern credit card program can give you the tools to deliver the digital-first experiences your customer’s demand. Our eBook, “5 Signs Your Credit Card Offering Needs an Upgrade,” will help you identify key indicators that your current card platform may be holding you back and w

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Robinhood launches margin investing in UK

The Paypers

Robinhood has announced the introduction of margin investing in the UK, enabling investors to borrow funds to enhance their trading activities.

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CFPB's Chopra wants Basel rule finalized 'as quickly as possible'

American Banker

Consumer Financial Protection Bureau Director Rohit Chopra said regulators urgently need to implement the Basel III endgame bank capital proposal, suggesting his opposition to the revised rule centers on the process of re-proposal rather than more substantive opposition to suggested revisions.

Capital 41
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ECB Launches initiatives to improve cross-border payments

The Paypers

The European Central Bank (ECB) has announced new initiatives aimed at improving cross-border payments both within the European Union and internationally.

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Rising women executives honored at American Banker's Most Powerful Women in Banking Next awards

American Banker

The award ceremony, which celebrated 15 women honorees 40 years old and younger nominated for having c-suite potential by an executive at their institution, took place at The Glasshouse in New York City.

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How Unify Turned Month-End Mayhem Into a Growth Party With Automation!

By ditching paper and manual checklists, UNIFY embraced ART’s cloud-based solution for seamless automation. The robust dashboards, exception reports, and completion date reports allowed the team to easily track progress and resolve bottlenecks. ART’s flexible access for auditors ensured tight deadlines were met effortlessly. With competitive pricing and a rapid setup, ART cut costs and minimized disruptions, enabling UNIFY’s team to concentrate on high-impact tasks.

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Mastercard expands its Product Express platform into new markets

The Paypers

Mastercard has announced the expansion of its Product Express platform in order to accelerate the launch of new card programs, as well as other payment services.

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First Citizens misses expectations, SVB business muted

American Banker

The Raleigh, North Carolina-based bank lowered full-year guidance for 2024. Costly deposits are outpacing its yield on loans amid tepid borrowing demand.

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iProov partners with TrustCloud to optimise digital identity management

The Paypers

UK-based biometric authentication tech provider iProov has entered into a partnership with TrustCloud to optimise how organisations control digital identity management.

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Credit quality issues weigh on Live Oak

American Banker

The Wilmington, North Carolina company reported a breakout quarter for loan production, but profits fell as an increase in nonperforming loans led to higher provisioning.

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3 Ways Managed Device Services Help Community Banks Cut Costs

Community banks seek ways to leverage their technology infrastructure to drive productivity and growth. However, the sheer volume of technology devices, capital constraints, and lack of skilled resources stand in the way. This Strategy Brief explores how a managed device services partner can help bridge this resource gap. Managed device services partners empower community banks to take charge of mission-critical device management activities with: Logistics and installation services to support se