Mon.Apr 08, 2024

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Fiserv CEO compensation rose last year to $28M

Payments Dive

Compensation for Fiserv CEO Frank Bisignano climbed 57% over 2022, as the value of stock awarded to him surged and he received a $3 million cash bonus.

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Ensuring Banking Compliance Through Project Management Expertise

Perficient

A top-leading bank, grappling with business and regulatory challenges, faced scrutiny after failing the Federal Reserve’s annual stress test. Addressing these deficiencies required a comprehensive approach, leading to the establishment of critical programs like the US Bank Holding Company (BHC) regulatory and comprehensive capital analysis and review (CCAR) program.

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Tension brews over healthcare payments: JPMorgan

Payments Dive

Healthcare consumers are often confused about the bill payment process, while providers grapple with delays and high collection costs, according to a survey by the bank.

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JPMorgan CEO: 70% of applications to be cloud-native by yearend

BankInovation

JPMorgan continues its cloud migration efforts as it works to move its applications and data to the cloud this year. “Getting our tech to the cloud. … It’s essential,” Chief Executive Jamie Dimon said today in his 2023 letter to shareholders. The $3.

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Live Demo: How to Achieve Reconciliation Zen

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

Automation generally supercharges any process and brings its value to the forefront. See how infusing automation such as ART (our month-end close solution), into your close can get you to the next level of closing. We will share a live demo of SkyStem's solution, ART and share the key elements of month-end close automation. Through ART, we'll take a look at: What month-end close automation entails Which process steps can and should be automated Benefits of achieving process automation, and Why i

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How commercial real estate challenges are affecting banking

American Banker

A combination of higher interest rates and increased vacancies — especially in office buildings — are leading to more apprehensions in commercial real estate.

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Global economic risks ‘could eclipse anything since second world war’, says JP Morgan boss

TheGuardian

In annual letter to investors, Jamie Dimon warns ‘wars in Ukraine and Middle East could become far worse’ The boss of the US bank JP Morgan has warned that the world could be facing the most dangerous moment since the second world war, putting lives and economic growth at risk. In his annual letter to investors , Jamie Dimon said the world had been “generally on a path to becoming stronger and safer” in recent years but had suffered a major reversal in February 2022 when Russia invaded Ukraine.

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Young Women's Leadership Award college scholarship: Apply now

American Banker

The $5000 scholarship from American Banker and Discover is for high school seniors in New York City who are the first generation in their family to attend college. The deadline to apply is May 8, 2024.

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ZA Bank supports stablecoin issuers for web3 adoption

The Paypers

Hong Kong-based ZA Bank has announced plans to offer banking services for stablecoin issuers to cater to the increase in local web3 adoption.

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Scott introduces measure to overturn CFPB late fee rule

American Banker

Sen. Tim Scott, R-S.C., ranking member of the Senate Banking Committee, introduced a Congressional Review Act resolution to undo the Consumer Financial Protection Bureau's credit card late fee rule.

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New York Lien Law Essentials: 5 Key Facts for Commercial Lenders

Dive into the complexities of New York lien laws with our comprehensive eBook, 'New York Lien Law Essentials: 5 Key Facts for Commercial Lenders.' In this detailed guide, we explore the critical formalities necessary for lenders navigating ground-up construction and fix-and-flip projects in the New York market. From documentation requirements to the implications of non-compliance, learn how to safeguard your lending position and prioritize legal adherence.

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LemFi receives CBK approval for Kenya remittance operations

The Paypers

US-based fintech LemFi has received regulatory approval from the Central Bank of Kenya (CBK) to operate remittances in Kenya.

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Use the Capital One-Discover deal to reshape the credit card market

American Banker

Any approval of the proposed Capital One-Discover merger must come with a pro-competitive 1% interchange fee condition to benefit consumers and small businesses and challenge the dominating duopolist Visa, and a pro-community 5% deposit reinvestment condition.

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Hokodo receives EUR 100 million debt facility

The Paypers

UK-based B2B Buy Now, Pay Later (BNPL) solution provider Hokodo has announced that it secured a EUR 100 million debt facility from Viola Credit to support B2B transactions.

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Schumer presses Capital One, Discover on merger deal

American Banker

Senate Majority Leader Chuck Schumer, D-N.Y., said that he would like to examine the proposed acquisition on "narrower bases.

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Thinking About How To Lessen Your Burden During Month-End Close? Skystem Can Help!

Most people dread the nearing of the month-end close and reconciliation process, and who can blame them? It's typically a tedious, long, stressful process; but it doesn't have to be. Implementing automation into your month-end process can significantly reduce this headache by automating up to 40% of your reconciliation and saving nearly 30% of your time spent.

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PayRetailers receives licence from the Central Bank of Brazil

The Paypers

Payment processing solutions company PayRetailers has announced that it secured its approval from the Central Bank of Brazil (BC) to operate as a payment institution.

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Why Amex is still expanding its pandemic-era restaurant-rescue program

American Banker

To help historic restaurants facing dramatic losses when COVID struck, American Express rolled out grants to 25 needy restaurateurs. Four years later, the program is reaching twice as many establishments and the card network's investment has more than doubled.

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Experian to acquire illion

The Paypers

Financial information services company Experian has decided to acquire illion for nearly USD 542.10 million, in a bid to expand into Australia and New Zealand.

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Dimon likens AI's transformational potential to the steam engine

American Banker

In his annual letter to shareholders, JPMorgan Chase CEO Jamie Dimon wrote that the bank has identified more than 400 use cases for artificial intelligence across marketing, fraud and risk. It has also amassed thousands of AI experts and data scientists and begun exploring deploying generative AI.

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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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Crédit Agricole and Worldline launch joint payment service 'CAWL'

The Paypers

France-based bank Crédit Agricole has partnered with Worldline to launch CAWL, a joint venture that provides tailored payment services to merchants.

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Fifth Circuit keeps CFPB $8 late fee case in Texas

American Banker

The case over the Consumer Financial Protection Bureau's $8 late fee rule has emerged as a flashpoint in a larger debate over "judge shopping," whereby plaintiffs seek venues with judges sympathetic to their complaints.

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Finyoz lendtech partners Currencycloud

The Paypers

Finyoz , a lendtech platform specializing in short-term invoice financing, has partnered with Currencycloud , a provider of services for simplifying business transactions across various currencies.

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CFPB warns banks of video games' money laundering, fraud risks

American Banker

A new report sheds light on the lack of player protections against scams and exploitive data collection practices of video game companies.

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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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CAB Payments receives European payment service provider licence

The Paypers

CAB Payments Europe has announced that it secured a payment service provider licence with De Nederlandsche Bank and established headquarters in Amsterdam.

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How Bank of America Seamlessly Melded Five Apps into One

The Financial Brand

This article How Bank of America Seamlessly Melded Five Apps into One appeared first on The Financial Brand. Blending BofA and Merrill apps into one with common functionalities was a step-by-step project that took years. This article How Bank of America Seamlessly Melded Five Apps into One appeared first on The Financial Brand.

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Finzly launches Account Galaxy for embedded banking

The Paypers

Finzly , a provider of money movement systems to financial institutions, has announced the launch of Account Galaxy, a solution designed to equip banks to participate in the embedded banking sector.

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How Should Regulations Evolve to Keep Up with the Banking Industry?

The Financial Brand

This article How Should Regulations Evolve to Keep Up with the Banking Industry? appeared first on The Financial Brand. A handful of new changes in revenue models for the banking industry may call for new liquidity regulations. This article How Should Regulations Evolve to Keep Up with the Banking Industry? appeared first on The Financial Brand.

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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.