Tue.Feb 07, 2023

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SASE – Necessary for the Future of Work

Cisco

Gartner first coined the term secure access service edge (SASE) in 2019. No one could have predicted how important and quickly SASE would become relevant to almost every business in order to function. With financial institutions digital transformation plans, the move to the cloud for many applications only heightened the interest and need. SASE is about delivering networking and network security controls at the edge as close to the users as possible.

Security 174
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Google, Amex roll out anti-fraud tool

Payments Dive

Amex is the latest card company to tap a Google virtual card service aimed at increasing the security of online payments.

Google 430
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Blockchain: The Secret Sauce to Supply Chain Visibility 

Perficient

In “Behind the Golden Arches” by John Love, the author shares an anecdote of how in the early days of McDonald’s, the company was having cashflow problems despite its being a significant source of revenue for many farmers. In a meeting with a particularly large farmer who had made significant money from selling tomatoes, lettuce, and especially potatoes to McDonald’s, Ray Kroc asked for a cash infusion, and without hesitation, the farmer wrote him a $25 thousand-dollar check on the spot (a very

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Fiserv discloses acquisitions

Payments Dive

Even as the payments and fintech giant cut employees and sold off business units, the company spent $1 billion on acquisitions last year.

Fintech 273
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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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UK MPs and peers find HSBC complicit in Hong Kong human rights abuses

TheGuardian

Bank sided with China in denying pension payouts to people who fled crackdown, says all-party group HSBC is complicit in human rights abuses against Hong Kong residents by siding with Chinese authorities and denying pension payouts to those who fled the authoritarian crackdown, an inquiry by peers and MPs has concluded. The report by the all-party parliamentary group (APPG) on Hong Kong took issue with the fact that banks including HSBC – which help to manage the compulsory pension fund that all

Groups 123

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DFPI asks Court to Enjoin OppFi From Facilitating High Rate Consumer Loans in California

CFPB Monitor

In a motion for a preliminary injunction and accompanyin g memorandum of points and authorities , the California Department of Financial Protection and Innovation (DFPI) is asking a California state court to order fintech Opportunity Financial LLC (OppFi) to stop facilitating loans to California borrowers from its partner FinWise Bank at interest rates above the interest rate cap (generally 36% plus the Federal Funds Rate) imposed by the California Financing Law (CFL).

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Instacart debuts Scan & Pay with NYC grocer

Payments Dive

This marks the retail debut of the Instacart technology, which is part of the company’s suite of in-store solutions for retailers.

Retail 221
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Ninth Circuit Vacates and Remands $8 Million CFPB Judgment in Lawsuit Against Mortgage Services Company

CFPB Monitor

The Ninth Circuit Court of Appeals recently issued an Order vacating a nearly $8 million judgment won by the Consumer Financial Protection Bureau (CFPB) in its lawsuit against Nationwide Biweekly Administration, Inc. (Nationwide), an Ohio mortgage services company. The Ninth Circuit remanded the case to the district court for further analysis based on recent rulings related to the constitutionality of the CFPB.

Ohio 78
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First five-year fixed mortgage under 4% since mini-budget launched by HSBC

TheGuardian

Britons will be able to fix monthly home loan costs at level below Bank of England base rate Five-year fixed-rate mortgages priced at below 4% are back on sale for the first time since just after the disastrous autumn mini-budget. HSBC has repriced its range and introduced a new five-year fix at 3.99% for customers remortgaging who are looking to borrow up to 60% of the property’s value.

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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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New York Governor’s 2024 fiscal budget proposal targets overdraft and NSF fees

CFPB Monitor

On February 2, 2023, New York Governor Kathy Hochul released her 2024 fiscal budget proposal, which included banking policy to “Protect New Yorkers from Predatory Banking Fee” in the Executive Budget Briefing Book. The Briefing Book states: “The Executive Budget includes nation-leading legislation that comprehensively addresses abusive bank fee practices, which tend to disproportionally harm low- and moderate-income New Yorkers, including stopping the opportunistic sequencing of transactions in

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Top 5 Scores Posts of 2022: Steady FICO Score, BNPL and Alternative Data

FICO

Home Blog FICO Top 5 Scores Posts of 2022: Steady FICO Score, BNPL and Alternative Data 2022 marked the first year in over a decade the average FICO Score did not increase, while the industry’s attention remained on topics such as alternative data and BNPL. Saxon Shirley Fri, 05/20/2022 - 06:06 by FICO expand_less Back To Top Tue, 02/07/2023 - 19:10 As the independent standard in credit scoring, FICO® Scores are the leading credit scores used extensively across the lending ecosystem. 2022 mark

Data 52
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Fiserv focuses on new tech, acquisitions in Q4

BankInovation

Fiserv introduced new offerings in 2022, including access to data through its Open Data solution, expanded capabilities through enterprise omnichannel solution Carat and a cloud-native banking solution through its acquisition of Finxact. WHY IT MATTERS: Fiserv’s new product offerings, acquisitions and Q4 wins allowed the company to weather uncertain economic conditions in the U.S.

Data 52
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iProov releases report on biometric attack trends

The Paypers

Biometric authentication and identity verification provider iProov has released a report that provides analysis and insights into attack trends facing biometric systems.

Trends 41
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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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Listen: Large banks partner to launch new digital wallet

BankInovation

Bank of America, JPMorgan Chase and Wells Fargo are among seven banks teaming to launch a digital wallet in the second half of the year to rival Apple Pay. As the new digital wallet is rolled out in North America, customer experience should be at the forefront, as use of digital wallets is already high.

America 52
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BNPL on the rise in New Zealand with market to reach USD 2 bln

The Paypers

Data and analytics company Global Data has recently released a new report focusing on the BNPL market in New Zealand, which is estimated to reach approximately USD 2 billion by 2026.

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2023 Blockchain Trends to Watch

CB Insights

What is in store for Blockchain in 2023? In this webinar, our analyst will dive deep into the numbers and share the trends they’re prioritizing.

Trends 36
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Tempo France, Nairagram to launch remittances to Africa

The Paypers

Global money transfer system Tempo France and US-based financial service company Nairagram have partnered to launch remittances from the EU to 20 countries in Africa.

US 36
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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

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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Amid fears of recession, credit unions predict strong lending in 2023

American Banker

Lending 78
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Experian announces partnership with Zopa Bank

The Paypers

US-based multinational data analytics and consumer credit reporting company Experian has partnered with Zopa Bank to provide customers with improved credit options.

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Wells Fargo to pay $300 million to settle car insurance lawsuit

American Banker

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Denario partners with Klarna Kosma to expand beyond Europe

The Paypers

Financial technology platform for banks Klarna Kosma has partnered with Denario to help the Berlin-based fintech expand its connectivity beyond Europe.

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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.

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Coinbase manager pleads guilty to insider trading on tokens

American Banker

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Worldline implements updated ATM fleet for Groupe Les Mousquetaires

The Paypers

Payment service provider Worldline has implemented an updated ATM fleet roll-out for France-based retailer Groupe Les Mousquetaires (GLM).

ATM 36
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Fed's Barr aims to 'eradicate' racial discrimination in banking

American Banker

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BBVA launches Pivot Payment System in Central America

The Paypers

Spain-based bank BBVA has partnered with BAC Credomatic to enter the Central American market and offer transnational transaction services.

America 36
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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.