Fri.Jun 03, 2022

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Global Payments taps former BofA exec as next CFO

Payments Dive

Josh Whipple, a former investment banker, is taking the top finance job as the company gears up for more acquisitions to capitalize on a drop in valuations.

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Strong Job Growth Continues While Wage Gains Moderate

South State Correspondent

Strong Job Growth Continues While Wage Gains Moderate. Nonfarm payrolls increased 390 thousand with those gains fairly widespread. Expectations were for 318 thousand jobs and the increase was just below April’s 436 thousand new jobs. The largest gains came in leisure and hospitality, in professional and business services, and transportation and warehousing.

Meeting 195
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Block offers Apple tap-to-pay for merchants

Payments Dive

Block wants to attract more business clientele as fintech firms experience economic volatility. Offering tap-to-pay on the iPhone advances that goal.

Apple 259
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Why You Shouldn’t File Income Tax Returns Earlier Than June 1st

BankBazaar

Always file your ITR promptly? Looking to file your ITR before June? Hold your horses. Here’s why you shouldn’t. Are you the sort of person that rushes to file their income tax return as early as possible so that it’s done and dusted? Are you very proud of that gold certificate the income tax department sent you for timely filing? So, if you’re mulling filing your returns before June, you might want to reconsider after reading this.

Taxes 167
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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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Amex isn't afraid of inflation

Payments Dive

American Express CEO Steve Squeri is bullish on his cardholders' financial health and the broader economic situation, saying Thursday he expects inflation to moderate in 2023.

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Stripe's legal ops chief aims to curb spending

Payments Dive

The digital payments company’s legal team hopes to introduce more alternative fee structures to help gain more balance in outside law firm costs.

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Peter Kulik Innovation Award: How Auriga’s WWS is innovative

Bobsguide

Auriga was recently honoured with the prestigious Peter Kulik Innovation Award from the ATMIA, the leading non-profit trade association representing the entire global ATM industry. Stefano Cipollone, Auriga’s Business Development Manager, reveals why WinWebServer (WWS), the integrated ATM acquiring solution, was selected and what it means for customers.

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Why Bitcoin ATMs are now everywhere: The real story

ATM Marketplace

There is no denying that Bitcoin ATMs have seen incredible growth, but a number of factors are driving this rate of expansion in the Bitcoin ATM space – it is not only the attractiveness or lack thereof on any given day of bitcoin.

ATM 111
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Flash crash set off by ‘fat-fingered’ Citigroup trader could cost $50m

TheGuardian

Details emerge after London-based employee incorrectly added a zero to a transaction A “fat-finger error” by a London-based trader at Citigroup that triggered a flash crash across European stock markets could cost the bank at least $50m (£39.8m). The trader was working from home last month when they incorrectly added an extra zero to a trade, Bloomberg reported , quoting “people familiar with the matter”.

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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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Are branch closures the only option?

Bobsguide

Mark Aldred, Auriga’s VP of International Sales, joined Brett King on Breaking Banks to deep-dive into current industry hot topics such as the impact of COVID-19 on banks, branch closures, and how technology is changing the nature of banking. The ongoing wave of branch closures are attempts by banks to address the problem of cost and the lack of usage.

Video 78
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Credit unions are helping Britons survive – but can they really rival banks?

TheGuardian

Zero-interest loans have helped financially vulnerable people pay for items from school uniforms to vital furniture Credit unions have proved a lifeline for many people during the pandemic and cost of living crisis, and now they are being allowed to offer a wider range of products. Zero-interest loans for people in financially vulnerable circumstances are being trialled, and have so far helped borrowers to pay for items ranging from school uniforms to essential furniture.

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Top Italian Bank Carige rolls out first of its fully digital branches with Auriga

Bobsguide

Banca Carige Smart, the new intelligent branch model enabled by Auriga #NextGenBranch solutions, combines digitalisation with a human touch for an innovative customer experience. London, 23 November 2021 – Auriga, a global software provider for the omnichannel banking and payments sector, today announced that Banca Carige, an Italian retail bank with over 480 branches all over Italy, is launching its first four Carige Smart branches using Auriga’s #NextGenBranch digital self-service solutions in

Video 78
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Wall Street and the problem of too many publicly traded FinTechs | Klarna CEO blasted for outing laid-off workers | Deutsche Bank’s DWS chief quits

Bussman Advisory

FinTech Ecosystem Insights by Bussmann Advisory is our weekly newsletter with over 40’000 subscribers across different social media channels, summarizing relevant news and reports related to ecosystems around disruptive technologies, highlighting key updates from the industry as well as our portfolio companies: Wall Street and the problem of “way too many publicly traded FinTechs” Klarna CEO blasted for outing laid-off workers on LinkedIn Deutsche Bank’s DWS chief quits a

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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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RPA vendor UiPath looks to digital growth after ‘choppy’ Q1

BankInovation

Digital transformation budgets are on the rise, with larger companies with greater than $1 million in revenue spending up to 62% more on digital transformation. At smaller organizations, that number is still on the rise at 42%, Ashim Gupta, chief financial officer at robotic process automation (RPA) vendor UiPath, said during Thursday’s earnings call.

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Google banks AI systems used to generate deepfakes on Colab

The Paypers

Google has banned the training of AI systems that can be used to generate deepfakes on its Google Colaboratory (Colab) platform.

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5 intelligent process automation trends to watch

BankInovation

Financial services organizations are digitizing and automating more processes to keep up with competition, and intelligent process automation (IPA) — which has been growing in use about 20% across all fields — is now becoming ubiquitous. Market research firm Everest Group in a recent report ranked IPA technology vendors and looked at the market for […].

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JPMorgan and OmniLatam partner for lending solutions in LATAM

The Paypers

US-based investment bank and financial services holding JPMorgan Chase has announced a new partnership with fintech OmniLatam to extend credit lines to mid-sized and small suppliers of big corporations in Latin America.

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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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The top tech banks are eyeing for adoption

BankInovation

The technologies banks are eyeing for future investments are in flux. What’s on the horizon for banking? Here’s a look at the new tech that bank leaders are considering investing in, according to a recent report by Forrester Research: AI-powered Robotic Process Automation (RPA): RPAs follow a rigid, rule-based automation, but if powered by AI, […].

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Tintra to secure banking licences across four continents

The Paypers

Tintra , a UK-based regtech, has planned to secure a banking licence across four continents so it can operate according to regulatory standards.

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3 critical tech steps banks must take to prep for open banking

BankInovation

Data for data’s sake is more than just wasted resources; it can also create frightening operational risks for the bank. Banks are known for being data-rich, which sounds promising since data is often touted as the centerpiece of the prototypical open banking environment. But data without a plan can harm more than it helps, Wendy […].

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Japan passes stablecoin bill that enshrines investor protection

American Banker

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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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Esports platform GEMS gets USD 50 mln in token funding

The Paypers

Esports 3.0 platform GEMS has secured a USD 50 million investment commitment from GEM Digital, preparing for a listing in the coming months.

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Navy Federal CISO sees no trade-off between security and ease of use

American Banker

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APEXX Global and ESW partner to process US and Canadian transactions

The Paypers

Global payments platform APEXX Global has announced that global direct-to-consumer ecommerce company, ESW , has selected the first to be its primary processor for Canadian and US transactions.

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Capital One has a new software business. Its first focus is the cloud.

American Banker

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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.