Future of B2B payments lies in embedded finance
Payments Dive
OCTOBER 7, 2022
“Unfortunately, the business-to-business market lags behind its B2C counterpart and is only just beginning to embrace embedded finance,” writes Melio COO Tomer Barel.
Fri.Oct 07, 2022
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4 Ways Insurers Can Help Communities Affected by Hurricane Ian
Perficient
OCTOBER 7, 2022
Hurricane Ian slammed into Florida’s gulf coast and Georgetown, South Carolina, on September 28, leaving countless businesses and homes — if not wholly destroyed — drowned with flood water and without power. The Insurance Information Institute, an industry-funded research group, estimates that Ian has caused at least $30 billion in damage. Now that the storm has passed, residents are scrambling to assess damages to their homes and businesses and, if insured, begin the claims processes with their
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Uber adds debit card, instant deposit for drivers
Payments Dive
OCTOBER 7, 2022
Uber’s new debit card will provide drivers up to 10% cashback on gas, 12% on EV charging and instant pay after completion of a ride or delivery.
Helen Cook joins Finastra as Chief People Officer
Bobsguide
OCTOBER 7, 2022
Helen Cook joins Finastra as Chief People Officer. London, UK – October 6, 2022 – Finastra today announced the appointment of Helen Cook as Chief People Officer. In her role she takes global responsibility for the people organization and advancing the company’s aspiration to be the most inclusive and diverse employer in the Fintech industry. She is particularly passionate about building a curious and well-tooled workforce, supporting employees to develop skills that keep them relevant, eng
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.
Big-name BNPL providers remain scarce in stores: report
Payments Dive
OCTOBER 7, 2022
As spending shifts back to stores, retailers are side-stepping big-name buy now-pay later providers, such as Affirm and Afterpay, in favor of offering their own in-store options, a recent survey revealed.
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Standard AI’s taps cameras with checkout-free tech
Payments Dive
OCTOBER 7, 2022
The checkout-free company is looking to help its convenience store customers make more informed decisions on how to run their operations, CEO Jordan Fisher said.
Defending against threats to ATMs
ATM Marketplace
OCTOBER 7, 2022
As the technical capabilities of ATMs have increased, so has the sophistication of physical and digital attacks looking to access the cash and consumer data that ATMs store. Banks must understand these threats.
OBR forecasts likely to show £60bn-£70bn hole after Kwarteng’s mini-budget
TheGuardian
OCTOBER 7, 2022
Predictions handed to chancellor expected to paint gloomy picture for UK economy amid sweeping tax cuts Kwasi Kwarteng has been handed independent forecasts on the state of the UK finances that are expected to show a hole of more than £60bn left by his sweeping tax cuts and a sharply slowing growth outlook. At the end of a turbulent week for Liz Truss’s government, the chancellor was on Friday handed the initial predictions for the economy and public finances by the Office for Budget Responsibil
Microsoft unveils Cloud for Financial Services features
BankInovation
OCTOBER 7, 2022
Microsoft on Tuesday announced new capabilities within its Cloud for Financial Services platform aimed at assisting financial institutions (FIs) with compliance and delivering digital services. FIs like Wells Fargo and National Australia Bank are already using the new platform to meet compliance needs using security controls, Bill Borden, corporate vice president of worldwide financial services […].
Digital Transformation: Accelerating ROI and Growth in Commercial Lending
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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
CFPB highlights potential impact of high vehicle costs on consumers with deep subprime credit scores
CFPB Monitor
OCTOBER 7, 2022
In a September 28, 2022 blog post , the CFPB examined the potential impact of rising vehicle prices on consumers with deep subprime credit scores, concluding that they are particularly likely to be financially vulnerable. . This is the CFPB’s second blog post in a matter of weeks examining the impact of rising vehicle costs on consumers. The first , published on September 19, 2022 and discussed here , focused on the impact of cost increases on consumers using information in consumer credit repo
The Clearing House’s real-time payments network grows in Q2
BankInovation
OCTOBER 7, 2022
The Clearing House (TCH) continues adding financial institutions (FIs) to its real-time payments (RTP) network, as consumers and businesses gain a better understanding of the payment model to leverage B2B, B2C and ”me-to-me” payments. As of Tuesday, 269 FIs were live on TCH’s RTP network, up from 258 in the second quarter, Cheryl Gurz, RTP […].
7 Questions to Help Evaluate the Efficacy of Your Collections Operation
SWBC's LenderHub
OCTOBER 7, 2022
As delinquencies begin to rise , your institution may be evaluating your internal operations and expenses to help you determine potential costs and impacts of scaling your collections department, compared to outsourcing one or more aspects of your operation to a third party.
Tiger Global looks to raise $6B in next funding round
BankInovation
OCTOBER 7, 2022
Tiger Global is looking to raise $6 billion for its next venture capital fund. The New York-based hedge fund recently invested in GrubMarket, ServiceUp, FlatLife, Zopper and Opto Investments in September, according to Crunchbase. The $6 billion ask, which was reportedly disclosed in a letter to investors this week, is less than half of its […].
The State of Automation in Financial Services 2024 Report
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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
CFPB Warns Mortgage Lenders That Failure to Have Appraisal Reconsideration Policies Can Violate Federal Law
CFPB Monitor
OCTOBER 7, 2022
In a recent blog post the CFPB warned mortgage lenders that “[l]enders that fail to have a clear and consistent method to ensure that borrowers can seek a reconsideration of value risk violating federal law.”. In the blog post the CFPB states the following: “Accurate appraisals are essential to the integrity of mortgage lending. Overvaluation can decrease affordability, make it harder to sell a home or refinance, and increase the risk of foreclosure.
Reducing Risk and Fraud – Highlights from Jack Henry™ Connect 2022
Jack Henry
OCTOBER 7, 2022
We hope you enjoyed the recent Jack Henry Connect conference in San Diego! Building connections is at the heart of what we do, and we were thrilled to be back in person this year with four action-packed days of connecting with you through a host of networking events, social activities, technology exhibitions, and more dynamic speakers than ever before.
Lufthansa chooses Worldline as global payments provider
The Paypers
OCTOBER 7, 2022
Global fintech activating on the payments and transactional services industry, Worldline , has been selected by aviation company Lufthansa Group to become its partner and payments provider.
Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance
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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.
SWIFT delivers plan on global CBDC network
The Paypers
OCTOBER 7, 2022
Financial messaging system SWIFT has laid out its blueprint for a global central bank digital currency (CBDC) network following an 8-month experiment on different technologies and currencies.
The UK PSR speeds up regulation for APP scams protection
The Paypers
OCTOBER 7, 2022
The UK Payment Systems Regulator (PSR) has announced it intends to speed up the coming into force of requirements for mandatory reimbursement for consumers.
Banks find that getting diverse small-business customers is harder than it looks
American Banker
OCTOBER 7, 2022
2024 Lending Outlook: Innovations and Evolutions in the Financial Sector
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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.
European Council approves Markets in Crypto Asset regulation (MiCA)
The Paypers
OCTOBER 7, 2022
The European Union has agreed on the legal text for licensed crypto firms, by passing the landmark Markets in Crypto Asset regulation (MiCA).
EBA CLEARING, TCH, SWIFT to test Immediate Cross-Border Payments (IXB)
The Paypers
OCTOBER 7, 2022
EBA CLEARING , The Clearing House (TCH) , and SWIFT have announced that they are to deliver the Immediate Cross-Border Payments (IXB) pilot service.
Top 10 Benefits of Automating Loan Modifications for Commercial Lenders
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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.
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