JPMorgan buys payments firm Renovite
Payments Dive
SEPTEMBER 12, 2022
The biggest U.S. bank is buying the payments company as competition in the checkout and card processing ecosystem mounts.
Payments Dive
SEPTEMBER 12, 2022
The biggest U.S. bank is buying the payments company as competition in the checkout and card processing ecosystem mounts.
South State Correspondent
SEPTEMBER 12, 2022
The banking industry’s cost of funds (COF) is highly correlated to short-term interest rates. However, as of Q2/22, the average community bank’s COF has risen only a few basis points. Community banks should be concerned about their COF because looking at current deposit conditions is like driving a car while looking at the rearview mirror.
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Payments Dive
SEPTEMBER 12, 2022
Card network juggernaut Visa said it will adhere to a new standard for identifying independent gun shops with a unique merchant code after an international body adopted the new approach last week.
South State Correspondent
SEPTEMBER 12, 2022
August CPI Headlines the Week. Treasuries are somewhat surprisingly finding an early bid this morning while awaiting the August inflation numbers tomorrow. That will be the key event of the week and provide the final piece of data for the Fed before hiking rates next week. The debate around 50bps or 75bps continues, although the latter seems to be the preferred choice given recent Fed speak.
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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
Payments Dive
SEPTEMBER 12, 2022
The checkout startup had planned to purchase the cryptocurrency payments firm for $1.5 billion. That was before the collapse of crypto values recently.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
CFPB Monitor
SEPTEMBER 12, 2022
On September 9, 2022, the California Department of Financial Protection & Innovation (the “DFPI”) released a Notice of Proposed Rulemaking Action that proposes to adopt regulations implementing the Student Loan Servicing Act (section 28100, et seq.) and the Student Loans: Borrower Rights Law (Civil Code section 1788.100, et seq.). The comment period for the proposed regulations will close on October 28, 2022.
Bobsguide
SEPTEMBER 12, 2022
Addition of USDC stablecoins for conversion from fiat currencies critical for Banks and Payment providers as web3 market evolves. London, 8th July 2022 – Banking Circle , the tech-first Payments Bank, is shifting the dial in the virtual assets market with a ground-breaking new service for Banks and Payments businesses. By adding USDC stablecoins to its payment rails for payment acceptance, processing and settlement, Banking Circle is delivering an easy to implement solution that cuts out the nee
CFPB Monitor
SEPTEMBER 12, 2022
On August 31, 2022, the California Senate voted to approve House Assembly Bill 156 , and sent the bill to Governor Newsom for consideration and potential signature. If it becomes law, the bill would amend the existing California Debt Collection Act (the “DCLA”) in three ways. First, the bill would amend provisions of Cal. Fin. Code § 100000.5(a) to “allow any debt collector that submits an application before January 1, 2023, to operate pending the approval or denial of the application.
TheGuardian
SEPTEMBER 12, 2022
MyCoinBanking was known to Barclays but the bank has only offered to repay him half of what he lost During the pandemic my 75-year-old father was targeted by scammers via email and WhatsApp who convinced him they were investment managers who could develop his life savings of £55,000 into a fantastic sum by investing in cryptocurrency. He had recently retired and was worried he had not saved enough for his, and my mother’s, retirement, so was easy prey.
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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
CFPB Monitor
SEPTEMBER 12, 2022
On September 7, 2022, newly-appointed Vice Chair for Supervision at the Federal Reserve (the “Fed”), Michael S. Barr, gave a speech outlining his near-term goals and the “holistic approach” he intends to take to achieve them. Building on the efforts made over the previous 12 years since the Global Financial Crisis to strengthen the banking system and oversight, Barr emphasized his top goals include making the financial system safer and fairer.
TheGuardian
SEPTEMBER 12, 2022
FCA orders fund’s administrator, Link, to ringfence sum as part of conditions related to its takeover The administrator of the failed fund run by the former star stock-picker Neil Woodford could be forced to pay investors up to £306m in compensation, the City regulator has said. The Financial Conduct Authority said on Monday it was ordering the fund’s administrator, Link, to ringfence the sum as part of conditions related to Link’s takeover by the Canadian cloud-based software company Dye &
The Paypers
SEPTEMBER 12, 2022
The Reserve Bank of India (RBI) has consulted with public sector banks and fintechs such as FIS in order to test out a central bank digital currency.
BankInovation
SEPTEMBER 12, 2022
What should financial institutions consider when adopting citizen development? Michael Lehmbeck, chief technology officer at BankUnited, gives Bank Automation News a glimpse into what he will share with attendees of next week’s Bank Automation Summit panel discussion, “Facilitating citizen developers in banking,” on Tuesday, Sept. 20, at 11:15 a.m. PT, during this special edition episode […].
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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.
BankInovation
SEPTEMBER 12, 2022
First National Bank of Omaha (FNBO) has launched Bend by FNBO, a new credit card-as-a-service (CaaS) solution that allows companies to offer customized credit cards. Bend by FNBO runs on open APIs while offering customers the flexibility of an embeddable card, Marc Butterfield, senior vice president at $26 billion FNBO, told Bank Automation News. “The […].
The Paypers
SEPTEMBER 12, 2022
Germany-based banking infrastructure software provider Mambu has teamed with long-time partner, Pan-African microfinance bank Carbon Finance , to launch BNPL offer Carbon Zero.
BankInovation
SEPTEMBER 12, 2022
With access to low code applications, anyone can build automations within a bank, but that doesn’t necessarily mean everyone should. Citizen development has been a pervasively discussed topic within the banking process automation space, given the linear focus of banks to scale automation programs. Robotic process automation (RPA) is one of the industry’s most widely […].
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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.
The Paypers
SEPTEMBER 12, 2022
Standard Chartered has completed a pilot testing of the Trade Financing Validation Service provided by MonetaGo over SWIFT , to mitigate the risks of duplicate trade finance fraud on a global scale.
BankInovation
SEPTEMBER 12, 2022
It’s all about the data. One thing is clear: the business value of data continues to grow, making it a bank’s primary piece of intellectual property. From a cyber risk perspective, attacks on data are the most prominent threat to banks. Regulators, cyber insurance firms and auditors are paying much closer attention to the integrity, […].
The Paypers
SEPTEMBER 12, 2022
Global modern card issuing platform, Marqeta , has announced a strategic partnership with Bread Financial , a tech-forward financial services company to enhance the in-store checkout experience for shoppers using Bread Pay.
American Banker
SEPTEMBER 12, 2022
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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.
The Paypers
SEPTEMBER 12, 2022
Colombia-based fintech Plurall has raised USD 20 million in debt capital from Fasanara Capital to augment financial inclusion for Colombian microbusinesses.
American Banker
SEPTEMBER 12, 2022
The Paypers
SEPTEMBER 12, 2022
JP Morgan has signed an agreement to acquire Renovite Technologies , a cloud-native payments technology company, to build its merchant acquiring platform.
American Banker
SEPTEMBER 12, 2022
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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.
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