Fri.Jun 07, 2024

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Cash isn't going away, despite declining use

American Banker

In the U.S., the COVID-19 pandemic and other factors caused a sharp reduction in cash use. But with paper bills still accounting for nearly a fifth of all payments, the option is still far too entrenched to risk extinction.

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Illinois heads toward landmark card interchange fee restrictions

Payments Dive

The state may become the first in the nation to outlaw the imposition of credit and debit card interchange fees on state excise tax and tips.

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The Results Are In: The Jack Henry™ 2024 Strategy Benchmark

Jack Henry

Explore top insights from Jack Henry's 2024 Strategy Benchmark. Dive into key findings on financial benchmarks such as technology trends, metrics, & more.

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Affirm adds new options in bid to battle cards

Payments Dive

The buy now, pay later provider now offers two 30-day payment plans; one that allows for full payment and another that splits a purchase in two, in addition to its “pay in four” offering.

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5 Things Lenders Need to Know About Portfolio Loans & Their Documentation

Discover the key benefits of portfolio loans and learn how to streamline your lending process with our infographic, "5 Things Lenders Need to Know About Portfolio Loans & Their Documentation." Find out how portfolio loans can maximize borrower potential by consolidating multiple properties under a single loan, reducing paperwork, and lowering closing costs.

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Banks can't measure climate risk? I live it every day

American Banker

U.S. regulators need to do more to require banks to recognize the risks posed by climate change, and the damage that continuing to support fossil fuel extraction projects does to the environment.

More Trending

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Payments tech a focus for 61% of merchants

BankInovation

AMSTERDAM — Consumers are more likely to interact with a business with a frictionless payment experience in place. Sixty-one percent of merchants say payments is a high area of focus, according to Discover Global Network’s “Payment State of the Union” report, released June 3.

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Comerica to settle Direct Express fraud class-action lawsuit for $1.2 million

American Banker

Comerica Bank has agreed to a proposed settlement of fraud claims after denying refunds to Direct Express beneficiaries who alleged money was stolen from their prepaid accounts. In the past month, beneficiaries have been sent postcards announcing the settlement.

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AI speeds Nasdaq fraud investigations by 33%

BankInovation

NEW YORK — The Nasdaq Stock Market index is using AI to streamline its efforts to investigate suspicious trading and anti-money laundering.

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How Apple fell behind in the AI arms race | Deutsche Bank ties up with Bitpanda in crypto shift | Robinhood to buy crypto firm Bitstamp for $200mThis week’s must-know stories in the FinTech, AI and Digital Asset space:

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 How Apple fell behind in the AI arms race | Deutsche Bank ties up with Bitpanda in crypto shift | Robinhood to buy crypto firm Bitstamp for $200mThis week’s must-know stories in the FinTech, AI and Digital Asset space: appeared first on Bussmann Advisory AG.

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Top 3 Secrets to Staying Relevant with Gen Z

Speaker: Brian Muse-McKenney, Chief Revenue Officer & Matt Simester, Cards and Payments Expert

In today’s world of social media, dating apps, and remote work, businesses risk becoming irrelevant or getting "ghosted" if they fail to meet the evolving needs of Gen Z consumers. In this new webinar, Brian Muse-McKenney of Episode Six and Matt Simester of Payments Consultancy Limited will reveal key considerations banks should factor into their efforts to develop target products for the next generation of bank customers.

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NYCB's new leaders face skeptical shareholders in wake of turmoil

American Banker

During New York Community Bancorp's annual shareholder meeting, executives reiterated their mission to restore value in the beleaguered Long Island-based company. Questions from shareholders suggested at least some discontent following a capital influx that significantly diluted their position in the company.

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Allianz introduces new home insurance tiers for UK homeowners

The Paypers

Insurer and asset manager Allianz has unveiled a new three-tier home insurance product in the UK, offering bronze, silver, and gold levels of cover with optional extras.

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How to hire chief data, AI officers while AI moves 'at such a fast clip'

American Banker

Speakers from the Consumer Financial Protection Bureau, JPMorgan Chase and more outlined the ways they are hunting for much-needed technology talent, from pooled efforts to recruiting outside of the country.

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Robinhood to acquire Bitstamp for USD 200 mln in cash

The Paypers

Robinhood has entered into an agreement to acquire Bitstamp , a global cryptocurrency exchange, in an aim to accelerate Robinhood Crypto’s expansion worldwide.

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Breaking New Ground: Managing Innovation Fatigue With Effective Automation

Speaker: Gary Dmitriev

Our upcoming webinar aims to demystify the process of selecting and implementing automation tools for financial institutes. This session will provide your roadmap for vetting potential solutions, focusing on due diligence, vendor assessments, and aligning technology with strategic goals. We’ll also address the critical issue of innovation fatigue, offering tips on maintaining enthusiasm and momentum for new initiatives.

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Sen. Warren: Return FHLBs to housing mission

American Banker

Sen. Elizabeth Warren, D-Mass., a powerful member of the Senate Banking Committee's progressive wing, said that the Federal Home Loan banks have "failed to deliver on their housing and community development mission.

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Klarna and Sainsbury join forces

The Paypers

Klarna has partnered with Sainsbury’s PLC intending to see its payment methods available at the online checkouts of three brands: Argos, Habitat, and TU.

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CFPB finalizes open banking standard-setter rule

Payments Dive

The bureau will consult public interest groups and app developers on open banking standards, and no single special interest can dominate the standards-making process.

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Majid Al Futtaim taps Checkout.com for seamless payments

The Paypers

UAE-based retail company Majid Al Futtaim has partnered with Checkout.com to offer ecommerce customers secure one-click checkout experiences.

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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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Hibret Bank and Mastercard launch Prepaid Hibir Mastercard Services

The Paypers

Hibret Bank , together with Mastercard , has announced the launch of the Prepaid Hibir Mastercard services, aiming to enhance digital financial inclusion in Ethiopia.

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MiFinity announces a partnership with FinteqHub

The Paypers

Ireland-based payments provider MiFinity has announced a new partnership with Lithuania-based FinteqHub , a payment gateway developed by SOFTSWISS.

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SpyCloud obtains USD 35 million to tackle account takeovers

The Paypers

Cybersecurity startup SpyCloud has secured USD 35 million in a funding round aimed at improving its account takeover prevention capabilities.

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Faster Payments Council releases financial inclusion report

The Paypers

The U.S. Faster Payments Council (FPC) has announced the release of the Faster Payments and Financial Inclusion survey report.

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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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Moneyhub introduces account verification service

The Paypers

Moneyhub , a data and payments platform, has unveiled its account verification service, employing Open Banking technology.

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Affirm adds Pay in 2 and Pay in 30 options

The Paypers

US-based payment network Affirm has added two new Buy Now, Pay Later (BNPL) options.

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