Fri.Nov 17, 2023

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Fed's Barr says FedNow will complement the private RTP network

American Banker

Speaking at an event hosted by The Clearing House, the Federal Reserve's vice chair for supervision said he expects both instant payment processing systems to be widely adopted over time.

System 41
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Visa warns consumers about holiday fraud

Payments Dive

Better spelling on fake merchant sites and more advanced card skimmers are among the latest schemes that will be deployed by fraudsters during the year-end holiday shopping season.

Fraud 435
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Retail Deposits: Analyzing Deposit Stickiness in the Current Interest Rate Environment

Perficient

In our previous article, “ Transaction Accounts: Analyzing Deposit Stickiness in the Current Interest Rate Environment ,” Perficient’s Financial Services Risk Management and Regulatory Capabilities Center of Excellence (CoE) explored the sharp decline in transaction account balances over an 18-month period. Now, we will delve into the stability of retail deposits from the same bank over the same timeframe, determining whether they were resilient compared to transaction accounts.

Retail 221
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Fiserv doubles down on Clover growth

Payments Dive

CEO Frank Bisignano is betting on accelerated growth of Clover’s small business point-of-sale services, even as he admitted to being “paranoid” in the highly competitive market.

Marketing 397
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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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For faster loan origination, stop doing this

Abrigo

How to close more loans by speeding up lending and credit analysis Seeking a quicker loan origination workflow is worth it. Learn where to find opportunities for improvement. You might also like this on-demand webinar on the red flags of emerging CRE risk. WATCH Takeaway 1 A critical look at the existing steps for loan requests and credit underwriting helps uncover ways to offer faster loan decisions.

Lending 222

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The true cost of fraud

Abrigo

Measuring the cost of fraud losses. The true cost of fraud goes beyond the initial reported fraud losses Would you like other articles like this in your inbox? Takeaway 1 Fraud scams made worse by the pandemic continue to be successful, while crypto-scams are emerging. Takeaway 2 A worsening economy increases the fundamentals of fraud, pressure, opportunity, and rationalization.

Fraud 195
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Change the Game With New Ideas and Exciting Possibilities: Reflecting on 2023’s Jack Henry™ Connect

Jack Henry

Dive into fintech revelations from Jack Henry Connect! From Jack Henry Platform to Financial Crimes Defender and FedNow insights. Shape banking's future.

Fintech 122
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Authentic experiences: How your brand can reach Gen Z for success and customer loyalty

ATM Marketplace

The APC Gen Z study found that Gen Z has five top demands from businesses and brands: 1. Authenticity. 2. PhysiDigital. 3. Experiential. 4. Custom. 5. Rewards.

Branding 123
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Early cracks start to show in banks' commercial loans

American Banker

Credit problems in business loans have risen in recent months, as companies that are in a weak financial position have started closing up shop. The difficulty in gauging which banks will face the most trouble is prompting many investors to stay away from the sector.

Company 85
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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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ATM, Self-Service Software guide offers exclusive information on industry

ATM Marketplace

The 2023 ATM and Self-service Software Trends Guide delivers in-depth research based on interviews and survey data from financial institutions worldwide on how they are utilizing ATMs.

ATM 85
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UK savers urged to act quickly for best returns as rates drop

TheGuardian

NS&I, Shawbrook and Tandem among providers to make reductions amid flurry of such moves Savers have been urged to act quickly if they want to get the best returns on their money after a flurry of interest rate cuts on top-paying accounts. This week NS&I reduced the rate it offers on its three-year green bonds from 5.7% to 3.95%, while Shawbrook, Tandem and Ford Money were among other providers making cuts.

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Fintech funding: Mega rounds increase 50% QoQ

BankInovation

Global fintech funding dropped marginally in the third quarter sequentially, but deals worth more than $100 million substantially increased as funding remained below 2019 levels. As global fintech funding reached $7.4 billion in Q3, it was down 46% year over year, according to CB Insights’ State of Fintech Q3 report published last month.

Fintech 66
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UK mortgage arrears rise as borrowers feel squeeze, says Nationwide

TheGuardian

Building society benefits from high interest rates, with half-year profits increasing to £1.3bn Nationwide has warned that mortgage arrears are rising as the building society reported increased profits on the back of higher interest rates. Higher borrowing costs after the Bank of England raised interest rates 14 times since the end of 2021 have caused financial pain for some mortgage holders while benefiting savers.

Report 71
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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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D.L. Evans Bank saves $1M with Laserfiche automation

BankInovation

D.L. Evans Bank has been working with and expanding the use of software company Laserfiche capabilities for 25 years, resulting in paper, monetary and time savings throughout the bank. Through the tech provider, the $3.

Idaho 63
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OpenAI ousts Sam Altman; Chase discloses carbon emissions

American Banker

A convicted Goldman executive seeks to lower his legal bills, OpenAI's board has ousted its founder and CEO and several bank leaders are taking on new roles, and more in the weekly banking news roundup.

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Apple reveals a new Apple Pay account balance feature for UK clients

The Paypers

Apple has revealed a new Apple Pay account balance feature that allows UK-based customers to access information such as balance and spending history.

Apple 73
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Is your ATM running? AI can catch it (if it's not).

American Banker

Diebold Nixdorf is using artificial intelligence to spot trouble proactively — a move that has already increased ATM uptime by up to 3.5%.

ATM 68
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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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Afterpay collaborates with Rokt to enhance its advertising business

The Paypers

Australia-based BNPL provider Afterpay has partnered with ecommerce tech company Rokt to offer shoppers more relevant ecommerce experiences.

Company 68
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Blue Ridge Bank begins offboarding at least a dozen fintech partners

American Banker

The banking-as-a-service pioneer has been reeling from the business since an enforcement action from a federal regulator last year.

Fintech 50
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Capchase partners with Grasshopper bank

The Paypers

US-based Grasshopper Bank has partnered with Capchase to enable its SaaS clients with access to the latter’s funding options.

US 68
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Hacker chutzpah: Ransomware group says it reported victim to SEC

American Banker

The cybercriminals said a new SEC rule required loan software company MeridianLink to report last week's breach, but the rule does not take effect until next month.

Report 41
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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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Plinqit partners with Bankjoy

The Paypers

Plinqit has partnered with Bankjoy , a digital banking provider across the US, to help financial institutions grow deposits and promote healthy saving habits.

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House Republicans open investigation into FDIC chairman

American Banker

Three GOP leaders of the House Financial Services Committee, including Chairman Patrick McHenry, say they'll explore possible connections between the agency's alleged "toxic" work culture and its staffing shortages that may have contributed to this year's banking crisis.

FDIC 36
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Nuvei partners with Nayax

The Paypers

Fintech company Nuvei has partnered with Nayax to enable Circle K and Couche-Tard to accept cashless payments at their EV charging points in Canada.

Fintech 41
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Big banks will pay higher-than-expected deposit insurance fee

American Banker

The Federal Deposit Insurance Corp. has finalized a special assessment that is slightly pricier than originally proposed for banks with uninsured deposits of more than $5 billion. Trade groups voiced concerns that the largest banks are paying to clean up a mess created by regional banks.

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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