Fri.May 06, 2022

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Cannabis payments companies focus on compliance, creativity

Payments Dive

In the cannabis business, federal illegality has kept many banks and payments companies on the sidelines. That's opened the door for young companies that are using the ACH network to facilitate cannabis payments in states where it’s been legalized.

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Creating a Deposit Advance Product to Boost the Customer Experience

Perficient

According to industry research, 73% of all people point to customer experience as an important factor in their purchasing decisions. Moreover, customers in the financial services industry are increasingly interested in using their go-to firm to cover more of their needs, rather than using multiple providers. To meet the needs of their customers, banks are creating a plethora of new products and services.

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Stripe-Plaid squabble erupts

Payments Dive

When digital payments company Stripe launched a new service this week, it caught fintech Plaid, one of its customers and partners, by surprise, and not in a good way. Plaid's CEO expressed his displeasure in what has become a Twitter drama.

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Job Growth Continues While Wage Gains Show Some Moderation

South State Correspondent

Job Growth Continues While Wage Gains Show Some Moderation. Nonfarm payrolls increased 428 thousand with those gains fairly widespread. Expectations were for 380 thousand jobs and it matched March’s 428 thousand new jobs. The largest gains came in leisure and hospitality, in manufacturing, and transportation and warehousing. However, total nonfarm payrolls remain 1.2 million below pre-pandemic levels in February 2020.

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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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Block 'just getting started' with Afterpay

Payments Dive

San Francisco-based Block is focused on expanding buy now-pay later provider Afterpay’s customer base and managing its loss rate, Block executives said during Thursday’s first-quarter earnings call.

More Trending

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Better Visibility, Better Security with a Next-Gen SIEM | FinTalk

Jack Henry

In a previous post, we discussed the origins of security information and next generation SIEM solutions for cybersecurity and how they have evolved with the expansion of machine learning and smarter systems.

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KAL presents latest ATM topics in three key regions

ATM Marketplace

Banks and independent ATM deployers (IADs) are invited to join KAL’s senior-level experts for three empowering webinars spotlighting landmark ATM industry topics in different regions.

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By the Numbers: 70% of SMBs adopt digital banking tools

BankInovation

Most small and midsize business (SMB) owners have adopted new banking technology but are experiencing losses due to inflation. What's more, 70% of SMB owners integrated new digital tools and strategies for their business in the past year, including online business banking tools, mobile apps and cashless payments, according to a report released this week […].

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Swiss politicians vote against loosening notorious banking secrecy law

TheGuardian

Failure to amend law in reaction to Credit Suisse investigation dashes hopes for fast-track route to greater press freedom Swiss politicians have voted against loosening the country’s banking secrecy laws , drawing criticism from the UN and campaign groups who said the laws will continue to harm press freedom. A notorious law known as article 47 makes it a criminal offence to disclose information about a bank’s clients, even if it is in the public interest.

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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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Listen: How voice data can reduce fraud and ease customer friction

BankInovation

Sixty-three percent of respondents to a recent survey think resetting their password is a huge inconvenience and 14% would rather be stuck in rush-hour traffic than reset their password. And ironically, at one institution, fraudsters were able to pass knowledge-based question barriers 92% of the time, while actual customers correctly answered the questions only about […].

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Inside Elon Musk’s big plans for Twitter | Western banks prepare for $10B hit in retreat from Russia | EU accuses Apple of market abuse with NFC

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: Inside Elon Musk’s big plans for Twitter Western banks prepare for $10B hit in retreat from Russia EU accuses Apple of market abuse with NFC and Apple Pay.

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Revolut’s $33B bank app hits a roadblock in Britain

BankInovation

Nikolay Storonsky, once a championship swimmer in his native Russia, doesn’t like to hang around in the slow lane. His $33 billion fintech Revolut Inc. has a neon sign in the office telling staff to “Get S**t Done.” It was in this spirit that the 37-year-old buttonholed U.K. Chancellor of the Exchequer Rishi Sunak at […].

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Walnut, a BNPL for healthcare provider, raises $110M. Walnut competitors are Primavera Financial, Certegy, and Sezzle.

CB Insights

Walnut , a point-of-sale lending platform, has raised $110M in a mix of equity and debt. It secured $10M in a Series A round that drew participation from Gradient Ventures, Newark Venture Partners, Afore Capital, and 2048 Ventures, among others. Clear Haven Capital Management provided $100M in debt financing. <span data-sheets-value='{"1":2,"2":"<div class="cbi-cta-shortcode-wrapper"><div class="cbi-cta-shortcode-content"></div>

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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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Fintech Funding: Fintechs nab millions for account-to-account payments, digital banking

BankInovation

Lithuanian account-to-account (A2A) payments fintech kevin. raised $65 million in a series A round, the company announced Tuesday. Founded in 2018, kevin. facilitates card-free payments between banks and merchants and posits itself as a “leader” in web- and app-based A2A payments in Europe, according to a release. The fintech’s solution is API-based and does not […].

Fintech 98
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GCash to introduce 7 per cent interest on deposits

The Paypers

The Philippines-based e-wallet GCash has announced it has plans to start offering up to 7% interest rates for new deposit accounts on its app, in partnership with CIMB.

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Employee Spotlight: Maria Bearson

Image Works Direct

Meet Maria Bearson, one of our super-star National Account Managers here at image.works! If you’ve had any interaction with Maria, you know how kind and knowledgeable she is. When Maria is not on the clock with IW, you will likely find her working out, working on personal and professional development or boating with her husband, Michael, and their Pudelpointer, Chief.

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BitMEX founders fined 30 mln for illegal trading in the US

The Paypers

A US federal judge has ordered the three co-founders of BitMEX to pay a total of USD 30 million for operating an illegal cryptocurrency derivatives platform and violating money-laundering rules, according to CoinDesk.

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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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Caught between bankers and activists, can the CRA reform proposal make everyone happy?

American Banker

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Volt launches Transformer for Open Banking payments

The Paypers

A2A payments gateway Volt has launched Transformer to help merchants save on excessive debit card interchange fees by encouraging shoppers to switch to Open Banking payments at checkout.

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Credit card fees in the crosshairs as Sen. Durbin revisits interchange

American Banker

Cards 69
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Neat launches new capabilities for its platform

The Paypers

Small business bookkeeping automation and document management company The Neat Company (Neat) has added new capabilities to its financial management platform, according to wfmz.com.

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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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Apple places deposits at banks catering to the underserved

American Banker

Apple 69
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First Bank to implement Finzly's payment hub

The Paypers

US-based First Bank has chosen to implement Finzly ’s payment hub to improve the bank’s payment and digital capabilities.

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Ally Financial is ready to move beyond its auto-centric past

American Banker

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Shopify to buy Deliverr for USD 2.1 bln

The Paypers

Shopify has planned to create an end-to-end logistic platform by combining Shopify Fulfillment Network (SFN) and Deliverr.

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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.