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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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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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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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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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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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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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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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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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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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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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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