Tue.Jun 11, 2024

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World’s top banks ‘greenwashing their role in destruction of the Amazon’

TheGuardian

Institutions alleged to have given billions of dollars to oil and gas companies involved in projects that are harming the rainforests Five of the world’s biggest banks are “greenwashing” their role in the destruction of the Amazon, according to a report that indicates that their environmental and social guidelines fail to cover more than 70% of the rainforest.

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Cash use persists in US beyond pandemic

Payments Dive

Consumers remained committed to cash use last year, even as the share of card payments rose and online payments increased, according to an annual Federal Reserve study.

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Trending Sources

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Statistical Evidence on What Hurts Bank ROE

South State Correspondent

FDIC-insured “Problem Banks” list has been increasing over the past two years. For the community banking industry (banks under $10B in assets), this is particularly troubling as the number of community banks earning negative return on equity (ROE) spiked to 237 institutions in Q1/24, or 5.71% of all community banks. Bank ROE is now a problem. We aim to explain the reason for this spike in the percentage of unprofitable community banks so that bankers can better manage their business model.

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Upcoming ISO 20022 transition leaves some finance players scrambling

Payments Dive

The move to ISO 20022 is coming late next year and many financial institutions remain unprepared for the switch.

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How to Avoid Getting "Ghosted": Top 3 Secrets to Staying Relevant with Gen Z

Speaker: Brian Muse-McKenney, Chief Revenue Officer & Matt Simester, Cards and Payments Expert

In today’s world of social media, dating apps, and remote work, businesses risk becoming irrelevant or getting "ghosted" if they fail to meet the evolving needs of Gen Z consumers. In this new webinar, Brian Muse-McKenney of Episode Six and Matt Simester of Payments Consultancy Limited will reveal key considerations banks should factor into their efforts to develop target products for the next generation of bank customers.

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How to avoid customer transformation pitfalls

ATM Marketplace

How can banks successfully deliver customer transformation initiatives? A panel at the upcoming Bank Customer Experience Summit from Sept. 9 to 11 in Charlotte will offer the secret ingredients to a successful transformation.

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Barclays payments leader to speak at Bank Automation Summit Europe 2024

BankInovation

Ross Jones, global head of corporate payments at Barclays, will speak at Bank Automation Summit Europe 2024 about the instant payments landscape in the European Union. The summit takes place Oct. 7-8 at the Hilton Frankfurt in Frankfurt, Germany, and brings together industry experts to discuss innovation in AI, banking automation and payments.

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What are the tech solutions to Zelle fraud and scam resolution?

American Banker

Machine learning has a firm place in banks' fraud and scam detection work. But some are also experimenting with using generative AI to research and handle claims.

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Apple launches Tap to Cash, BNPL

BankInovation

Apple has announced new features for Apple Wallet and Apple Pay.

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PayPal hires high-ranking marketing gurus to delve into payments data

American Banker

PayPal has brought on expert pitchmen from Uber and Plaid to build an advertising platform for merchants. Its rivals are on a similar path.

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Navigating the Automation Landscape: Selecting Tools That Fit Your Business

Speaker: Gary Dmitriev

Our upcoming webinar aims to demystify the process of selecting and implementing automation tools for financial institutes. This session will provide your roadmap for vetting potential solutions, focusing on due diligence, vendor assessments, and aligning technology with strategic goals. We’ll also address the critical issue of innovation fatigue, offering tips on maintaining enthusiasm and momentum for new initiatives.

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Kani Payments partners CLOWD9 for data reporting

The Paypers

Kani Payments , known for its global data reconciliation and reporting platform, has been chosen by CLOWD9 to enhance its data reporting and reconciliation capabilities globally.

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Three more minority banks get a deposit boost from State Street

American Banker

The Boston-based custody bank will place deposits at Carver State Bank, Citizens Trust Bank and Ponce Bank as part of its broader effort to help reduce the wealth gap. State Street plans to place a total of $100 million of deposits at minority depository institutions this year.

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Podcast: How FIs can tackle cloud migration cost increases

BankInovation

Financial institutions can look to financial operations strategies to manage costs when moving their operations to the cloud.

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Bank of America alum spearheads investing app for women

American Banker

WealthMeUp, an app that educates users on investing and other financial concepts, eventually wants to turn users' cash-back into investing dollars.

America 78
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Case Study: First Mid Bank Fast-Tracks New Market Entry in Commercial Lending

Discover First Mid Bank's Expansion Success with Our Case Study! Discover how First Mid Bank & Trust fast-tracked market expansion through advanced automation and compliance solutions. This case study reveals their journey from facing challenges in Texas' complex legal landscape to achieving rapid market entry with GoDocs' innovative commercial closing platform.

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Citi launches Citi Real-Time Funding for corporate clients

The Paypers

US-based bank Citi has introduced Citi Real-Time Funding (RTF), a liquidity solution that facilitates 24/7 account funding and streamlines treasury processes.

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White House, CFPB seek to ban medical debt from credit reports

American Banker

Fifteen million Americans who owe a combined $49 billion in medical debt would benefit from a proposal by the Consumer Financial Protection Bureau to scrub medical debts from credit reports and ban their use in underwriting decisions.

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Morpher equips traders with AI-driven market insights

The Paypers

Austria-based trading app Morpher has launched Morpher AI, a tool that facilitates market analysis and decision-making for traders.

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One tweak to SEC policy would channel capital to small businesses

American Banker

Nearly 20 years ago, the SEC made business development companies subject to an obscure reporting rule that pushed them out of major index funds. Reversing course would be a major boon to small businesses.

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Exploring the Liability Shift: A Comprehensive Guide to Fraud Loss Responsibility and Mitigation

Shifting liability for digital fraud losses represents a significant challenge for financial institutions and payment service providers. In response to the global surge in digital fraud, regulators are introducing policies that transfer the cost of fraud from defrauded customers to financial institutions. ThreatMark’s newly released white paper, "The Liability Shift: Understanding Fraud Losses Responsibility and Mitigation," provides an in-depth analysis of this shift, its implications, and stra

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SJ AB selects Extenda Retail and Softpay for its payment processes

The Paypers

Sweden’s passenger rail service SJ AB has partnered with Extenda Retail and Softpay to deliver augmented payment experiences across its network.

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There are too many cooks in the interchange kitchen

American Banker

Illinois' recent move to prohibit the inclusion of taxes and tips in credit card interchange fees suggests that electronic transactions are too expensive and also that there are too many entities working unilaterally to reduce those costs.

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Worldwide Cash Express partners with TerraPay

The Paypers

Worldwide Cash Express has announced its partnership with TerraPay in order to optimise cross-border payment experiences for customers and clients.

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Citi's Titi Cole on what's changed in banking: The Climb

American Banker

As she prepares to leave to run a nonprofit after three decades in the industry, Cole said the financial services sector is better for women — but still has a long way to go.

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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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South Korea considers eliminating crypto tax law

The Paypers

The South Korean National Assembly Legislative Research Service has mentioned a possible crypto tax elimination debate in its policy guidebook.

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Kansas City bank has no plans for a pause after striking deal

American Banker

Dickinson Financial in Missouri has no intention of departing from its expansionary mindset as it lays plans for de novo branches and scouts new acquisition opportunities.

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Fintech Galaxy partners with Yabx

The Paypers

Fintech Galaxy has disclosed a strategic collaboration with Yabx , a company specialising in alternative data-driven lending and management of loan portfolios.

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How to Automate with the Banking Customer in Mind — and Create A Smoother CX

The Financial Brand

This article How to Automate with the Banking Customer in Mind — and Create A Smoother CX appeared first on The Financial Brand. Automation tools simplify transactions, ensuring customer satisfaction and loyalty. In today's informed market, banks must capitalize on customer engagements — or risk reputational damage. This article How to Automate with the Banking Customer in Mind — and Create A Smoother CX appeared first on The Financial Brand.

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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.