Wed.Oct 05, 2022

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Afterpay adds monthly BNPL option

Payments Dive

The Block-owned buy now-pay later provider is growing beyond its “pay in 4” plans by adding a financing option for pricier purchases.

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5 ways ISO 20022 could rewrite the future of payments

Accenture

ISO 20022 is probably the biggest payments change of the last 30 years—if not more. It’s also no longer news. The industry has known for years that it’s coming. In fact, some institutions began their migrations over a decade ago. But as industry wide launch dates for different parts of the standard start to come…. The post 5 ways ISO 20022 could rewrite the future of payments appeared first on Accenture Banking Blog.

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Consumers prefer cashback rewards: Bank of America

Payments Dive

Consumers base credit card choices mainly on incentives offered, with a preference for cash back over points, a Bank of America survey found.

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Treasuries Rethink a Fed Pivot

South State Correspondent

Treasuries Rethink a Fed Pivot. Treasury yields are higher this morning as investors rethink the probabilities of a Fed pivot anytime soon. While the UK backed off from its inflation-inducing fiscal plan, the central bank of Australia hiked rates by 25bps when 50bps was expected, and the flight-to-safety trade around Credit Suisse Bank all aided the argument for a possible Fed pivot, there was enough push back in Fed speeches to dim the odds of a near-term pivot.

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Elevating Accounting Practices: The Power of Outsourcing and Automation in the Digital Age

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.

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PayPal acting CFO’s pay package hints at staying power

Payments Dive

The $2.5 million in equity grants PayPal is handing its interim chief financial officer are part of the kind of package typically given to long-term CFOs, executive search experts said.

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More Trending

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FTC issues warning on BNPL claims

Payments Dive

As buy now-pay later popularity has mushroomed, the companies offering the financing have attracted the attention of another regulator.

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GFT has been nominated five times at this years Banking Tech Awards

Bobsguide

We are delighted to announce that GFT has been nominated five times at this years’ Banking Tech Awards!?. ?The Banking Tech Awards are presented by FinTech Futures to recognise excellence and innovation in the use of IT in financial services and we are finalists in five separate categories. GFT qualified in the following categories:?. ?. – Best Use of IT in Private Banking/Wealth Management – VP Bank in partnership with GFT?.

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Listen: BaaS partnerships deliver the highest ROI

BankInovation

Banking-as-a-service (BaaS) provider Treasury Prime connects banks and fintechs to improve customer experience and build relationships. Treasury Prime’s platform, which connects through APIs to a bank’s core, allows for money movement and sits between buying versus building, Jeff Nowicki, vice president of banking, tells Bank Automation News in this episode of “The Buzz” podcast.

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You’ll Have to Open Your Checkbooks if You Want Consumers to Change Banks

Gonzobanker

Bankers are obsessed with discovering the “secrets” of getting consumers to change banks, while market researchers feed that obsession with survey data that purports to reveal those secrets. Sadly, bankers are barking up the wrong tree, and most surveys do little to help those bankers understand consumers’ real behaviors and attitudes. Extremely Likely, My Foot.

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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

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Banks and fintechs should perform ‘trust exercises’ amid OCC scrutiny of BaaS

BankInovation

It may just be that banking-as-a-service (BaaS) providers and fintechs have grown into unique and now mature collaborators that justify updated and revised requirements from regulators. Earlier this month, Acting Comptroller of the Currency Michael J. Hsu spoke at The Clearing House and Bank Policy Institute’s Annual Conference, outlining the Office of the Comptroller of […].

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You’ll Have to Open Your Checkbooks if You Want Consumers to Change Banks

Gonzobanker

Bankers are obsessed with discovering the “secrets” of getting consumers to change banks, while market researchers feed that obsession with survey data that purports to reveal those secrets. Sadly, bankers are barking up the wrong tree, and most surveys do little to help those bankers understand consumers’ real behaviors and attitudes. Extremely Likely, My Foot.

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Regulation II Expanded to Require Two Unaffiliated Networks on Card Not Present Transactions

CFPB Monitor

On October 3, 2022, the Federal Reserve finalized a rule expanding Regulation II (Debit Card Interchange Fees and Routing), the implementing regulation for the Durbin Amendment. The final RULE is substantially similar to the proposed rule issued in 2021 and requires online (card not present) debit card transactions to be enabled for processing on at least two unaffiliated payment card networks.

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Bonus episode: understanding pay and labour market tightness

BankUnderground

Josh Martin. Everyone likes a bonus – be it a bonus in pay, or a bonus episode for your favourite TV show. Everyone, that is, except statisticians. Bonuses are hard to define and measure and are often excluded from data on pay. But bonuses could be really important to understand labour market tightness – a topic of much interest at the moment. This blog takes a quick walk through some pay measures, highlighting the role of bonuses, and exploring what has happened to bonuses before, during and si

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The State of Automation in Financial Services 2024 Report

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

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Rates for two-year fixed mortgage pass 6% mark for first time since 2008

TheGuardian

News comes day before chancellor is due to discuss impact of market turmoil with main high street lenders The average rate on a new two-year fixed mortgage has risen above 6% for the first time since 2008, according to data that will intensify concern about the crisis in the home loans market. News that the typical new rate had climbed to 6.07% came the day before the chancellor, Kwasi Kwarteng, was due to meet with executives from Britain’s biggest banks to discuss the impact of the financial m

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DHL partners with BigCommerce to support global growth of US merchants

The Paypers

Germany-based shipping service DHL has partnered with SaaS ecommerce platform BigCommerce to help online businesses in the US expand their portfolio of products worldwide.

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Podcast: Inspiring rising leaders to be part of something bigger

ABA Community Banking

As a leader in selecting and developing potential Chick-fil-A restaurant operators for many years, André Kennebrew conducted around 8,500 talent interviews. Here's what he learned about talent from one of America's fastest-growing and top-rated consumer brands. The post Podcast: Inspiring rising leaders to be part of something bigger appeared first on ABA Banking Journal.

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Russia seeking legislative option for crypto international trade

The Paypers

A representative of Russia’s Ministry of Finance has stated the country is seeking a non-restrictive policy for using Bitcoin and crypto in international trade.

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Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance

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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The Pros and Cons of QR Codes

Image Works Direct

QR codes are all the buzz nowadays. While they’ve been around for many years now, it’s only in the past few years that they seem to appear everywhere – and for good reason. Since a QR code can hold a lot of information, it can be a handy tool to communicate with your audience. Like every tool, though, it also comes with pros and cons.

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Ebury enrols in Amazon Payment Service Provider Programme

The Paypers

UK-based fintech Ebury has announced it become a member of Amazon’s Payment Service Provider Programme, which allows sellers who use Amazon sites to continue to collect payments in different regions and currencies, through Ebury’s platform.

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Most Powerful Women in Banking: No. 4, Mary Mack, Wells Fargo

American Banker

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PPI partners with DZ Bank to develop request-to-pay platform PAYCY

The Paypers

Germany-based DZ BANK and business consulting company PPI have announced partnering to develop the request-to-pay platform PAYCY for the European financial industry.

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2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

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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Most Powerful Women in Banking: No. 20, Beth Johnson, Citizens Financial Group

American Banker

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EU to propose digital euro legislation in 2023

The Paypers

The European Commission has announced they will propose the legislation for the digital euro to be introduced as a CBDC issued by ECB in 2023.

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Most Powerful Women in Banking: No. 9, Stacey Friedman, JPMorgan Chase

American Banker

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ABN AMRO, Swapfiets to launch e-ID with payment capability

The Paypers

ABN AMRO has teamed up with bicycle-as-a-service company Swapfiets to launch functionality that combines payment and identity authentication.

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Top 10 Benefits of Automating Loan Modifications for Commercial Lenders

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.