Payments Dive

JUNE 10, 2022

That was the annual increase tallied this week by EMVCo as part of its work to streamline payment protocols for merchants and improve the security of their transactions.

Cards 320

Cards Security Payments 320

Perficient

JUNE 10, 2022

In a recent speech and interview with the Institute of International Economic Law at Georgetown University, current Acting Comptroller of the Currency Michael J. Hsu gave numerous remarks on the architecture of stablecoins. According to the Comptroller, the architecture for a stablecoin system can be viewed through the lens of three key policy issues: Stability.

blockchain 275

blockchain Regulation Policies FDIC 275

South State Correspondent

JUNE 10, 2022

May CPI Hits 40-Year High. May CPI disappointed markets with a hotter-than-expected read and that has sent short to intermediate Treasury yields higher once again. The overall inflation rate rose a full 1.0% for the month which was well above the 0.3% increase in April and higher than the 0.7% expected. Rebounding gas prices and food were the primary culprits.

Meeting 195

Meeting Marketing Report US 195

Payments Dive

JUNE 10, 2022

Cryptocurrency skeptics were undoubtedly delighted by TerraUSD’s collapse last month, but there are plenty of signs already this month that the crypto era is far from over. Maybe it’s just beginning.

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cryptocurrency 195

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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

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ATM Marketplace

JUNE 10, 2022

When thinking about innovation, ICX keynote speaker Andrew Laudato believes there are several factors businesses should follow to be successful and retain valuable employees. His biggest point of emphasis, however, is rather simple, but an aspect many companies overlook: Innovation thrives when you get your house in order.

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Innovation Company 112

TheGuardian

JUNE 10, 2022

Assessment finds customers could access accounts despite any collapse but three banks have shortcomings The UK’s largest banks are no longer “too big to fail” and could foot the bill for their own failures, the Bank of England has said, but it found shortcomings at three banks including HSBC and Lloyds. Almost 14 years on from the financial crisis that threatened a collapse of the banking system and led to huge taxpayer bailouts, the Bank of England’s first public assessment of lenders’ “living

System 98

System Groups 98

BankInovation

JUNE 10, 2022

Commercial banks are focusing on a human-centric approach to relationships that may be holding them back when it comes to digitizing such basic functions as account opening. This more human approach is a challenge, Art Harrison, co-founder and chief growth officer for workflow automation vendor Daylight Automation, tells Bank Automation News in this episode of […].

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TheGuardian

JUNE 10, 2022

As more banks go numberless to help stop fraud, we look at what it means for security and ease of use First there was the contactless revolution; now credit and debit cards are going numberless. Increasingly, banks are relegating information such as the 16-digit long number and the expiry date to the back of the card, while a few are going the whole hog and not printing them anywhere.

Cards 98

Cards Fraud Security 98

CFPB Monitor

JUNE 10, 2022

On June 1, 2022, plaintiff Kristen Michael filed a class action lawsuit against FinTech lender Opportunity Financial, LLC (“OppFi”) on behalf of herself and a putative class alleging, inter alia , that OppFi loans money at an interest rate upwards of 130% higher than allowed by state law. Ms. Michael alleges that OppFi offers “OppLoans” in over 30 states, whereby it originates, underwrites, services and enforces these loans, even claiming the loans on its financial reports.

Texas 78

Texas Fintech California Utah 78

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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

Report

Jeff For Banks

JUNE 10, 2022

I recently delivered remarks at a bank institutional investor conference titled "Don't Be Mr./Ms. Irrelevant." The conference included a panel of recognizable bank stock investors who waxed eloquent on their criteria for making and maintaining their interest as an investor in your financial institution. As a follow-up to their remarks, I asked two panelists and an additional institutional investor two questions and got their permission to print their answers for your benefit.

Conference 78

Conference Taxes Strategy Community Bank 78

CFPB Monitor

JUNE 10, 2022

The Federal Trade Commission provided its annual report to the Consumer Financial Protection Bureau on its enforcement and related activities in 2021 regarding the Truth in Lending Act (TILA), Consumer Leasing Act (CLA), and Electronic Fund Transfer Act (EFTA) (collectively, the “Financial Acts”). Under Dodd-Frank, the FTC retained its authority to enforce these regulations with respect to entities subject to its jurisdiction.

Report 78

Report Lending Policies Training 78

CB Insights

JUNE 10, 2022

Finch , an API builder connecting corporate HR systems, has raised $15M in a Series A. The round drew participation from Bedrock Capital Management, General Catalyst, Y Combinator, and Menlo Ventures, among others. the state of venture report. Download our free report to get the TL;DR on what you need to know about venture funding and trends in Q1 2022.

System 63

System Trends Capital Report 63

CFPB Monitor

JUNE 10, 2022

The Consumer Financial Protection Bureau (CFPB) issued a Request for Information (RFI) regarding employer-driven debt. Specifically, the CFPB is interested in “debt incurred to an employer or an associated entity, taken on in pursuit or in the course of employment.” Comments must be received by Wednesday September 7, 2022. The CFPB is seeking input from all workers, including independent contractors and others who are not considered “employees” under the Fair Labor Standards Act.

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Training Examples Course Marketing 78

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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.

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CB Insights

JUNE 10, 2022

Juni , a neobank for e-commerce companies, has raised $206M in a mix of debt and equity. The $100M Series B equity round drew participation from Mubadala Capital, while the $106M in debt financing was provided by TriplePoint Capital. <span data-sheets-value='{"1":2,"2":"<div class="cbi-cta-shortcode-wrapper"><div class="cbi-cta-shortcode-content"></div><div class="cbi-cta-shortcode-forms" ><div class="ct

Capital 62

Capital Company Regional Fintech 62

CFPB Monitor

JUNE 10, 2022

The Consumer Financial Protection Bureau (CFPB) recently highlighted its concerns regarding the use of military allotments for loan repayment, inviting servicemembers who believe they have been treated unfairly by companies seeking repayment through the military allotment system to file complaints with them so that they can investigate further. . A military allotment is an automatic deduction from a servicemember’s military pay that can be designated towards a recurring payment obligation.

System 78

System Lending Payments Compliance 78

CB Insights

JUNE 10, 2022

Bud , an open banking platform, has raised $80M in a Series B from TDR Capital. <span data-sheets-value='{"1":2,"2":"<div class="cbi-cta-shortcode-wrapper"><div class="cbi-cta-shortcode-content"></div><div class="cbi-cta-shortcode-forms" ><div class="cta has-desktop"><div class="cta-desktop center-copy "><h4>FREE DOWNLOAD: STATE OF FINTECH Q1 2022</h4> <p>q

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Regional Fintech Capital Data 59

PopularBank

JUNE 10, 2022

Supporting small businesses that make a difference. Popular Bank ‘s commitment to supporting small businesses is a big part of who we are as a financial institution. We are proud to share the journey of one of our clients, Integral Help Group , and their dedication to providing a safe space for residents and communities in Corona, Queens. The growing demand for mental health services.

Groups 52

Groups Community US United States 52

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Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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CB Insights

JUNE 10, 2022

Vanta , a provider of security and compliance software, has raised $110M in a Series B. The round drew participation from Craft Ventures, Sequoia Capital, and Y Combinator, among others. the state of venture report. Download our free report to get the TL;DR on what you need to know about venture funding and trends in Q1 2022. First name. Last name. Email.

Compliance 59

Compliance Software Security Trends 59

BankInovation

JUNE 10, 2022

An academic paper studying anonymized administrative data from fintech lender Upstart Network found its alternative credit-decisioning model could widen the pool of potential borrowers more than traditional credit models. "Invisible Primes: Fintech Lending with Alternative Data" found that a traditional counterfactual model, developed in coordination with the Consumer Financial Protection Bureau (CFPB) and used for […].

Lending 52

Lending Study Fintech Data 52

The Paypers

JUNE 10, 2022

Europe-based fraud prevention and digital identity verification company iDenfy has announced it partnered with Backed , a platform that allows users to speculate on the future of private customers.

Fraud 57

Fraud Company 57

BankInovation

JUNE 10, 2022

Backbase has raised $130 million in a series A round, the company announced this week. The self-styled “engagement banking” fintech provides a white-labeled platform for banks and credit unions that digitizes retail and business banking and counts $181 billion KeyBank and $153 billion Navy Federal Credit Union as banks that have “embraced” its products.

Fintech 52

Fintech Security Retail Company 52

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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.

Compliance

The Paypers

JUNE 10, 2022

Payroll connectivity solution Atomic and embedded finance company Bond Financial Technologies have extended their partnership with the launch of Atomic's Repay product.

Financial Technology 45

Financial Technology Technology Company 45

BankInovation

JUNE 10, 2022

A microservices approach can aid a financial institution’s cloud migration for its applications, given the numerous system connections of apps that must be navigated. The $531 billion Truist, formed by the late 2019 merger of BB&T and SunTrust, and $38 billion TIAA Bank shared with Bank Automation News how the banks are deploying “microservices,” which […].

System 52

System 52

American Banker

JUNE 10, 2022

Apple 98

Apple Payments 98

The Paypers

JUNE 10, 2022

US-based payments company FLEETCOR Technologies has acquired Global Reach Group , a UK-based cross-border payments provider.

Payments 45

Payments Groups US Technology 45

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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.

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