Convera CEO revamps former Western Union biz
Payments Dive
AUGUST 23, 2022
Convera CEO Patrick Gauthier, the former head of Amazon Pay, aims to remake Western Union’s B2B unit and aid corporate clients in navigating currency volatility.
Tue.Aug 23, 2022
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Navigating Economic Uncertainty with Cisco Capital
Cisco
AUGUST 23, 2022
Inflation and an economic slowdown are causing IT budgets to tighten; business decision makers need flexibility in their IT spending options. As a result, many businesses are starting to feel the pressure to cut costs during a time that would have been spent investing in or upgrading their digital infrastructures. Since preserving capital will remain a top priority, decision makers will need to look for options that allow them to maintain or increase IT capabilities while keeping monthly spendin
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DailyPay releases card with Visa
Payments Dive
AUGUST 23, 2022
The earned wage access provider introduced the new debit card after major changes in leadership earlier this year.
UK and US banks among biggest backers of Russian ‘carbon bombs’, data shows
TheGuardian
AUGUST 23, 2022
Ukrainian campaigners call for immediate end to investments, to cut funds to war and help avoid climate breakdown US and UK financial institutions have been among the leading investors in Russian “carbon bomb” fossil fuel projects, according to a new database of holdings from recent years. Campaigners in Ukraine said these institutions must immediately end such investments, to limit the funding of Russia’s invasion of Ukraine and to avoid climate breakdown.
Elevating Accounting Practices: The Power of Outsourcing and Automation in the Digital Age
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.
Last call for the Bank Customer Experience Summit
ATM Marketplace
AUGUST 23, 2022
If you are involved in the financial industry, banking, fintechs or self-service banking, you have an opportunity to network and learn at the Bank Customer Experience Summit, held in Chicago from Aug. 31 to Sept. 1. But you have to act fast as online registration closes Aug. 26.
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FDIC issues cease and desist letters alleging false or misleading representations about deposit insurance on crypto-related products
CFPB Monitor
AUGUST 23, 2022
On August 19, 2022, the FDIC issued cease and desist letters to five crypto companies, alleging they made false and misleading statements about FDIC deposit insurance and demanding immediate corrective action. The five companies are FTX US, Cryptonews.com, CryptoSec.info, SmartAsset.com, and FDICCrypto.com. The FDIC’s actions come weeks after issuing an “ Advisory to FDIC-Insured Institutions Regarding Deposit Insurance and Dealings with Crypto Companies ” to address the agency’s concerns rega
RBA urges business to act now on climate threats or face potential legal action
TheGuardian
AUGUST 23, 2022
Reserve Bank Australia says households may struggle to repay debts as asset prices will probably become more volatile Follow our Australia news live blog for the latest updates Get our free news app , morning email briefing or daily news podcast The Reserve Bank has warned banks, insurers and other businesses to act now to manage the financial threats from global warming, with directors and trustees likely to face litigation risks if they don’t take “appropriate actions”.
FDIC issues guidance on multiple re-presentment NSF fees
CFPB Monitor
AUGUST 23, 2022
The FDIC has issued new supervisory guidance (FIL-40-2022) on multiple non-sufficient funds (NSF) fees arising from the re-presentment of the same unpaid transaction. The guidance directly applies only to state-chartered banks and thrifts that are not members of the Federal Reserve System. National banks and federal thrifts are supervised by the Office of the Comptroller of the Currency (OCC) and state-chartered banks that are members of the Federal Reserve System are supervised by the Federal
M&A News: TowneBank expands in Virginia
ABA Community Banking
AUGUST 23, 2022
TowneBank in Suffolk, Virginia, has agreed to buy Farmers Bankshares in Windsor, Virginia. The $16.9 billion-asset TowneBank said in a press release Thursday that it will pay $56 million in stock for the $609 million-asset Farmers. The post M&A News: TowneBank expands in Virginia appeared first on ABA Banking Journal.
Digital Transformation: Accelerating ROI and Growth in Commercial Lending
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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
CFPB on track to issue Section 1071 final rule by March 31, 2023
CFPB Monitor
AUGUST 23, 2022
Yesterday, the CFPB filed its tenth status report with the California federal district court hearing the lawsuit brought to force the CFPB to move forward with rulemaking to implement the small business data requirements of Section 1071 of the Dodd-Frank Act. The Bureau states in the status report that it is on track to issue the Section 1071 final rule by March 31, 2023.
By the Numbers: Banking apps underwhelm in connectivity
BankInovation
AUGUST 23, 2022
As mobile banking becomes more widely adopted by users of all ages, the technology comes with its own drawbacks, with nearly half of mobile banking customers saying their money-related apps and financial accounts regularly lose connectivity. U.S. customers at the younger end of the age spectrum are running into problems with mobile platforms, according to […].
4 tips for your back-to-school budget
PopularBank
AUGUST 23, 2022
As summer ends and children head back to school, now is the time to make sure you have a back-to-school budget in place. Developing a budget can help you plan for and manage expenses at the start of and throughout the school year. According to the National Retail Federation (NRF), families with children in elementary through high school typically spend an average of $864 on school items.
Scotiabank’s mobile rewards app adds 150k new users in Q3
BankInovation
AUGUST 23, 2022
Scotiabank added 150,000 new members to its mobile app rewards program during the third quarter as the bank expanded the program in Canada and increased its revenue 5% year over year. The loyalty program allows members to earn points by using the bank’s mobile app to make purchases with Scotiabank debit or credit card products. […].
The State of Automation in Financial Services 2024 Report
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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
valU purchases fintech Paynas
The Paypers
AUGUST 23, 2022
Egypt-based BNPL platform valU has acquired Paynas to reach more micro, small, and medium enterprises and to augment its financial offering.
Truist acquires Zaloni data governance platform
BankInovation
AUGUST 23, 2022
Truist announced Monday it has acquired the Zaloni Arena platform from data technology solution provider Zaloni to assist in the financial institution’s data strategy and reduce IT costs. The technology, once added to the Truist platform, can be built out with new capabilities like API calls, user experience enhancements, and software that has been developed […].
Australia: CDR to extend to non-bank lending
The Paypers
AUGUST 23, 2022
The Australian Government has announced the release of Treasury’s final sectoral assessment report which recommends the designation of the non bank lending sector for the CDR.
Fin Capital’s Ren Riley to speak at Bank Automation Summit Fall
BankInovation
AUGUST 23, 2022
Ren Riley, investment partner at Fin Capital, will speak at Bank Automation Summit Fall 2022 to discuss investor interest in banking technology in 2023. The panel, “RPA & Beyond: Investors on what’s next in banking technology,” will dive into valuation trends, differing views on investment between banks and venture capitalists and upcoming investment trends in […].
Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance
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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.
Sumsub brings new services to the US market following expansion
The Paypers
AUGUST 23, 2022
International all-in-one verification software company Sumsub has announced the expansion in the United States, following the opening of their first office in Miami, Florida.
Square taps Clearpay to offer its sellers BNPL functionality
The Paypers
AUGUST 23, 2022
US-based payments platform Square has integrated Clearpay in the UK to provide Buy Now, Pay Later capabilities to sellers across online and in-person commerce.
2024 Lending Outlook: Innovations and Evolutions in the Financial Sector
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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.
FuturePay's MyTab digital credit platform available for ecommerce merchants
The Paypers
AUGUST 23, 2022
US-based provider of ecommerce financing solutions and mobile wallet, FuturePay , has announced that it makes its MyTab proprietary digital revolving credit platform available for online merchants.
Egypt's Commercial International Bank launches Instant Payment Network
The Paypers
AUGUST 23, 2022
The Commercial International Bank Egypt (CIB) has launched the Instant Payment Network (IPN) through its digital channels, including internet and mobile banking.
Top 10 Benefits of Automating Loan Modifications for Commercial Lenders
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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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