Fri.May 24, 2024

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You Don’t Need Modern Fintech Products … You Need Extensible Products

Jack Henry

What’s more extensible than a product that allows you to solve a variety of use cases by combining components to suit your needs? Click to learn more.

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Cash App aims to add more features

Payments Dive

Block’s Jack Dorsey wants to improve Cash App’s customer service experience in order to entice more users to make it their primary bank, he said this week.

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Inside look: Synchrony’s AI training strategy

BankInovation

Synchrony Financial is investing in training its employees on emerging technology, with a focus on AI and automation. Training options include “technology certifications mapped to critical skills in areas like cybersecurity, software engineering and UX design,” Tim Christensen, senior vice president of product, digital, innovation and AI at Synchrony, told Bank Automation News.

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Walmart and Capital One break up

Payments Dive

The retail behemoth and its credit card issuer said in a terse, joint press release Friday that they’re parting ways.

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Case Study: First Mid Bank Fast-Tracks New Market Entry in Commercial Lending

Discover First Mid Bank's Expansion Success with Our Case Study! Discover how First Mid Bank & Trust fast-tracked market expansion through advanced automation and compliance solutions. This case study reveals their journey from facing challenges in Texas' complex legal landscape to achieving rapid market entry with GoDocs' innovative commercial closing platform.

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Home Loan bank dividends are not 'excessive.' They're oddly low.

American Banker

Analyzed from a property rights perspective, the dividends paid by the Federal Home Loan banks to their members are surprisingly stingy, and vary wildly between the different banks.

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FedNow, RTP interoperability is inevitable — down the line

BankInovation

The Clearing House’s Real Time Payments network and The Federal Reserve’s FedNow network are prepared to tackle interoperability eventually — but for now, its value remains minimal.

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Coventry Building Society finalises £780m deal for Co-operative Bank

TheGuardian

Agreement will create lender with almost 5m customers and £89bn balance sheet The Co-operative Bank is to return to its mutual roots after Coventry Building Society confirmed that it will acquire the bank from its hedge fund owners for £780m. The deal has now been finalised after Coventry said it had made a non-binding cash offer for the bank last month that will create a lender with almost 5 million customers and an £89bn balance sheet.

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SEC approval of Ether ETFs acknowledges Ether is a commodity | Elon Musk’s xAI raise nearly $6 | JPMorgan to give AI training to all new hires

Bussman Advisory

This week’s must-know stories in the FinTech, AI and Digital Asset space. The latest edition of the FinTech Ecosystem Newsletter is here: Image Credits: shutterstock.com The post SEC approval of Ether ETFs acknowledges Ether is a commodity | Elon Musk’s xAI raise nearly $6 | JPMorgan to give AI training to all new hires appeared first on Bussmann Advisory AG.

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Nursing Home CMS Staffing Mandate: What is it and how can operators prepare?

PopularBank

By Andrew Boland – Director of National Healthcare Financing, Popular Bank A minimum staffing standard for nursing homes across the country was unveiled last month, raising concerns from operators and industry leaders over the impact the mandate will have on their ability to maintain adequate access to long-term care. Nearly all nursing homes (14,340 out of about 14,500 facilities that receive federal funding) are understaffed according to the new mandate.

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Exploring the Liability Shift: A Comprehensive Guide to Fraud Loss Responsibility and Mitigation

Shifting liability for digital fraud losses represents a significant challenge for financial institutions and payment service providers. In response to the global surge in digital fraud, regulators are introducing policies that transfer the cost of fraud from defrauded customers to financial institutions. ThreatMark’s newly released white paper, "The Liability Shift: Understanding Fraud Losses Responsibility and Mitigation," provides an in-depth analysis of this shift, its implications, and stra

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The NYCB-Signature deal was a spectacular regulatory failure

American Banker

There were significant red flags that regulators overlooked when allowing New York Community Bank to acquire Signature Bank. Those include the fact that the company was still integrating the Flagstar Bank transaction.

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Capchase secures EUR 105 mln credit facility led by Deutsche Bank

The Paypers

Capchase , a revenue acceleration platform catering to Software-as-a-Service (SaaS) companies, has recently secured a EUR 105 million credit facility warehouse led by Deutsche Bank.

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Inside the shady world of cyber weapons

American Banker

In "This Is How They Tell Me the World Ends," Nicole Perlroth, a former New York Times reporter, offers a detailed picture of how the zero-day exploit trade developed and affects critical infrastructure.

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Revolut expands business services to sole traders in Australia

The Paypers

UK-based superapp Revolut has expanded its Business product to include sole traders in Australia, enhancing financial solutions for small businesses.

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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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Construction Loan Calculator for Your Commercial Property Needs

Commercial Lending USA

To build your commercial property, you need a construction loan calculator.

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US House approves new regulation bill in a win for crypto

The Paypers

The United States House of Representatives has voted 279-136 to approve the Financial Innovation and Technology for the 21st Century Act (FIT21).

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First Federal reorganizes, Regions wins presidential award

American Banker

First Federal Bank of Kansas City finalized a plan to reorganize its corporate structure; Regions Bank in Birmingham, Alabama, was one of 10 to win the "President's 'E' Award for Export Service"; Rhode Island-based Citizens Financial Group named Jim Weiss as Florida market president; and more in this week's banking news roundup.

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TotallyMoney launches TotallySure for car finance

The Paypers

UK-based TotallyMoney has launched TotallySure to revolutionise car finance with pre-approval, guaranteed rates, loans, and terms, increasing transparency and trust.

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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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Regulators thought too narrowly in OK of NYCB-Signature deal

American Banker

New York Community Bank's acquisition of the failed Signature Bank helped with its liquidity. But there were other considerations that decisionmakers overlooked in allowing the transaction to take place.

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SilverRock secures banking licence

The Paypers

UK-based SilverRock Bank has announced that it secured its banking authorisation from the Prudential Regulation Authority after receiving GBP 50 million in funding.

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Counterpoint: Why NPS and Surveys Don’t Suck

The Financial Brand

This article Counterpoint: Why NPS and Surveys Don’t Suck appeared first on The Financial Brand. The Financial Brand recently argued that these common customer feedback tools have little value. We disagree — here's why. This article Counterpoint: Why NPS and Surveys Don’t Suck appeared first on The Financial Brand.

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PPRO joins forces with Afterpay

The Paypers

UK-based PPRO has entered a collaboration with Afterpay to provide US, Europe, China, and Hong Kong-based ecommerce merchants and PSPs with additional capabilities.

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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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How to prepare for FedNow: 5 Steps for your financial institution

Abrigo

Make FedNow work for your bank or credit union. The FedNow Service enables community financial institutions to stay competitive by meeting instant payment demands. Implement it smoothly with these tips on preparing for FedNow. Would you like other articles like this in your inbox? Takeaway 1 Implementing the FedNow Service can help reduce interbank obligations, expand market reach, and enhance customer experiences.

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Apple launches Tap to Pay on iPhone in the region of Canada

The Paypers

Apple has announced the launch of its Tap to Pay on iPhone service in the region of Canada in order to optimise the payment experience for customers and clients.

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Boodil launches new travel payments platform

The Paypers

Boodil has announced the launch of its new specialised payments platform developed for the travel industry, in collaboration with ‘ The Advantage Travel Partnership ’

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Intercontinental Exchange to pay USD 10 mln penalty over cyber intrusion

The Paypers

Intercontinental Exchange has been fined a USD 10 million penalty to settle charges its subsidiaries allegedly failed to immediately alert the SEC of a cyber intrusion incident.

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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