Fri.Jan 27, 2023

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Visa, Mastercard, Amex results buoyed by consumer spending

Payments Dive

The card companies said that consumer demand, including for travel, remained healthy in the fourth quarter of 2022, though growth moderated.

Cards 433
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Bitstop shakes up bitcoin ATM space with Genesis Coin acquisition

ATM Marketplace

The ATM industry is no stranger to high profile acquisitions and the bitcoin side of the industry has joined the trend. Bitstop, a bitcoin ATM provider, has acquired Genesis Coin, which powers more than 12,000 bitcoin ATMs in the U.S., and accounts for 31.9% of all such machines worldwide.

ATM 108
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Climate activists guilty of smashing Barclays HQ windows spared jail

TheGuardian

Women were found guilty of causing £100,000 damage to building in Canary Wharf, London Seven climate change activists who were found guilty of causing more than £100,000 of damage by smashing windows at the headquarters of Barclays Bankwere spared jail by a judge. Zoe Cohen, 52, Carol Wood, 53, Sophie Cowen, 31, Lucy Porter, 48, Gabriella Ditton, 28, Rosemary Webster, 64, and another protester, who cannot be named for legal reasons, were charged with criminal damage and pleaded not guilty.

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AI prompt engineering is the key to limitless worlds

Dataconomy

Do you like AI tools but have trouble getting the desired results? Then it’s time to meet the concept of AI prompt engineering. Whether you use ChatGPT or DALL-E 2, i.e. text-to-text or text-to-image AI tools, you must learn to ask the right questions to get the results you want.

Tools 68
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8 Signs Your Accounting Team Is Ready to Automate Month-End Close

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

How do you know if your accounting team is ready to automate the month-end close? Join us in this informative webinar, where we share the top 8 signs that indicate that a team has outgrown all existing tools and may be ready to embark upon month-end close automation. We will examine the process clues that help determine whether your team would be a good candidate for automation.

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Goldman Sachs boss takes near 30% pay cut as turbulence hits bank

TheGuardian

David Solomon’s pay was $25m for 2022, down from $35m in 2021, as investment bank’s profits halve and 3,200 staff laid off Goldman Sachs has slashed its chief executive’s pay packet by almost 30% after a turbulent year that resulted in one of the largest round of job cuts in the Wall Street lender’s history. The bank revealed on Friday that David Solomon had been paid $25m (£20m) for 2022, down from $35m a year earlier, after the bank revealed a 50% drop in annual profits following a slump in de

US 63

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'A huge mistake': Lessons from the JPMorgan-Frank fintech deal

American Banker

Fintech 101
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Fifth Third enhances its Momentum Banking platform

BankInovation

Fifth Third Bank announced the addition of Early Pay for federal tax refunds through its Fifth Third Momentum Checking digital banking platform as part of the bank’s ongoing tech modernization initiatives.

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Yellen says raising debt limit is only solution to avoid fiscal crisis

American Banker

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Santander launches multinational BNPL product

BankInovation

Santander Corporate and Investment Banking has launched a business-to-business product via a new buy-now, pay-later solution. Madrid-based Santander CIB tapped global trade credit insurance company Allianz Trade and B2B payments platform Two for the venture, which aims to provide large, multinational corporations the ability to instantly defer payments at checkout, according to a Santander release.

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Transforming Lending: Understanding the Power of Digital Platforms

Digital platforms can provide you with plenty of solutions, yet many are still intimidated by them. It's time to end that worry and embrace what could make a major difference for your bank. Understanding how they work and how to best utilize them for your banks is key toward success. In this article, Biz2X breaks down all things digital platforms, including the many advantages of embracing them.

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Protecting children is not the same as preventing fraud.

Tomorrow's Transactions

Protecting children is not the same as preventing fraud In the design of every customer facing service there is a trade off between ‘ease of use’ and the countermeasures incorporated into the system to prevent misuse. We are regularly told by User Interface specialists that any friction added to their checkout process provides a reason… Continue reading Protecting children is not the same as preventing fraud.

Fraud 39
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JPMorgan is spending and talking the most on AI, index shows

BankInovation

JPMorgan Chase & Co. has a head start when it comes to developing and deploying artificial intelligence in banking, according to a new study.

Study 52
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How banks should deal with AI's risks, according to NIST

American Banker

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How did ChatGPT passed an MBA exam?

Dataconomy

ChatGPT passed an MBA Exam revealed by Professor Christian Terwiesch at the University of Pennsylvania. The professor shared a brief report on the AI chatbot’s score and pointed out which parameters it successfully completed. Terwiesch prepared a research paper entitled “Would Chat GPT3 Get a Wharton MBA?

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6 Alternative Lending Strategies for a Shifting Landscape

In the ever-evolving commercial lending landscape, adaptability is key to survival and growth. As lenders navigate the challenges and opportunities presented by the state of the market, alternative lending strategies have emerged as powerful tools for success. We will explore six strategies with the potential to transform lenders’ business. Understanding alternative lending strategies is crucial.

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The more things change, the more branches still matter

American Banker

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Tenable launches Tenable Ventures to support new cybersecurity technologies

The Paypers

US-based cybersecurity company Tenable has announced Tenable Ventures, a corporate investment programme that supports cybersecurity startups.

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Wells Fargo holds CEO Scharf's pay at $24.5 million for 2022

American Banker

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GCash, Grab Philippines to offer cashless payments

The Paypers

Mobile wallet GCash has partnered with superapp Grab to enable direct cashless payments option when using the app’s transport and delivery services in the Philippines.

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The Blueprint for a Customer-Centric Digital Lending Experience

Creating a winning digital lending experience requires plenty of focus on the needs of customers and more. Biz2X Chief Product Officer Aaron Traub covers everything from how to create such an experience, areas to hone in on, pitfalls to avoid, and plenty more in this insightful article. Discover how to utilize new technology without alienating existing customers, what to emphasize when working on your platform, and how to utilize the data at your disposal while not becoming overly reliant on it.

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Stripe, exploring options, hires JPMorgan and Goldman Sachs

American Banker

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Self-Correction: The Secret to Customer-Driven Leadership

Digital Growth Institute

“If you are doing customer-driven leadership the right way, it can’t fail because it’s self-correcting.” -Daniel Hammond Most financial brands pride themselves on providing outstanding customer service. Still, the financial industry is one of the least-liked industries in the world. Customers have little love left for their banks. Why the mismatch? Daniel Hammond says it’s a failure to practice genuine customer-driven leadership.

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American Express brushes off impact of white-collar layoffs

American Banker

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How to Defeat Procrastination (and Eat That Frog!)

Digital Growth Institute

“The number one reason for procrastination and a lack of motivation is a vagueness or confusion about what it is you’re trying to do.” -Audrey Cannata Have you ever climbed into bed at night and wondered, “What did I even accomplish today?” It’s demoralizing to realize you’re just treading water in your personal or professional life.

How To 15
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Addressing Top Enterprise Challenges in Generative AI with DataRobot

The buzz around generative AI shows no sign of abating in the foreseeable future. Enterprise interest in the technology is high, and the market is expected to gain momentum as organizations move from prototypes to actual project deployments. Ultimately, the market will demand an extensive ecosystem, and tools will need to streamline data and model utilization and management across multiple environments.

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NCUA extends 18% interest ceiling for federal credit unions through 2024

American Banker

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Corlytics to acquire ING SparQ

The Paypers

UK-based regulatory risk intelligence firm Corlytics has acquired ING SparQ to design a regtech platform, focused on `monitoring to policy` services.

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How Alipay is supercharging Splitit and Checkout.com

American Banker

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Provincial Government of Bataan signs MOU with nChain

The Paypers

The Provincial Government of Bataan has signed a Memorandum of Understanding with global blockchain technology company nChain.

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Managing Default Rates: A Balancing Act in a Multistate Lending Environment

Unlock the secrets to optimizing returns while navigating complex state regulations. With this webinar, gain exceptional insights from industry leaders, each with vast experience and expertise in commercial lending. They will delve into critical aspects of managing default rates in today’s dynamic lending landscape, including the formidable task of managing default rates across diverse states, each with its own legal intricacies and restrictions.