Fri.Jun 14, 2024

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Here is our Digital Banking Playbook

South State Correspondent

You might need a new digital banking platform. Chances are your bank chose your current digital platform because it was easy. Maybe your core vendor provided it, or perhaps you were sold a platform by a vendor you happened to meet at a conference. Likely, your vendor has little relationship to your strategic needs and future architecture. In this article, we uncover what a modern digital platform looks like, why your bank might need to plan to change over the next three years, and if you are goi

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Landmark Visa, Mastercard settlement in peril

Payments Dive

The judge's likely rejection would scuttle a $29.79 billion deal that was two decades in the making.

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Here is Our Digital Banking Platform Playbook

South State Correspondent

You might need a new digital banking platform. Chances are your bank chose your current digital platform because it was easy. Maybe your core vendor provided it, or perhaps you were sold a platform by a vendor you happened to meet at a conference. Likely, your vendor has little relationship to your strategic needs and future architecture. In this article, we uncover what a modern digital platform looks like, why your bank might need to plan to change over the next three years, and if you are goi

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US bank Wells Fargo fires employees for ‘simulating’ being at their keyboards

TheGuardian

Workers were sacked after review found they were ‘creating impression of active work’, says filing Business live – latest updates The US bank Wells Fargo has fired more than a dozen workers for alleged “simulation of keyboard activity”, in an apparent bid to fool their employer into thinking they were working. The employees were “discharged after review of allegations involving simulation of keyboard activity creating impression of active work”, according to a filing with the Financial Industry

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How to Avoid Getting "Ghosted": Top 3 Secrets to Staying Relevant with Gen Z

Speaker: Brian Muse-McKenney, Chief Revenue Officer & Matt Simester, Cards and Payments Expert

In today’s world of social media, dating apps, and remote work, businesses risk becoming irrelevant or getting "ghosted" if they fail to meet the evolving needs of Gen Z consumers. In this new webinar, Brian Muse-McKenney of Episode Six and Matt Simester of Payments Consultancy Limited will reveal key considerations banks should factor into their efforts to develop target products for the next generation of bank customers.

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How to fight ATM fraud

ATM Marketplace

ATM security experts spoke about cutting edge fraud techniques and how banks can fight back.

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How a Mississippi credit union attracted $8 million in new deposits

American Banker

Statewide Federal Credit Union in Flowood used its partnerships with Bankjoy and Strum Platforms to identify untapped communities in its field of membership and aggressively market its inaugural high-yield savings account.

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SameDay Auto Finance automates lending

BankInovation

SameDay Auto Finance is automating more of its origination and servicing processes after switching to a new loan servicing system earlier this month. TheIrving, Texas-based subprime lender signed on with auto lending software provider Nortridge on June 1, Armando Hidalgo, director of servicing, told Auto Finance News, a sister publication to Bank Automation News.

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Visa speeds aid to disaster victims with new government-payments app

American Banker

The card network has developed a digital approach to delivering disbursements for disaster relief and other purposes via mobile devices, without requiring a separately downloaded app.

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BNY Mellon’s Pershing X modernizes API strategy

BankInovation

BNY Mellon’s technology arm Pershing X’s clients are looking to the tech provider for improved wealth management capabilities. Clients want to upgrade their internal wealth management technology but maintaining the users’ brand is a big part of the conversation, Noam Tasch, head of revenue at BNY Pershing X, told Bank Automation News.

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Navigating the Automation Landscape: Selecting Tools That Fit Your Business

Speaker: Gary Dmitriev

Our upcoming webinar aims to demystify the process of selecting and implementing automation tools for financial institutes. This session will provide your roadmap for vetting potential solutions, focusing on due diligence, vendor assessments, and aligning technology with strategic goals. We’ll also address the critical issue of innovation fatigue, offering tips on maintaining enthusiasm and momentum for new initiatives.

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Goldman Sachs' fossil fuel financing is bad for its shareholders

American Banker

The company's shareholders are ill-served by its large investments in fossil fuel projects that both damage the environment and present major financial risks.

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Judge likely to reject $30B Visa, Mastercard fee deal

BankInovation

A $30 billion settlement between Visa Inc., Mastercard Inc. and retailers to cap credit-card swipe fees is likely to be rejected by a federal judge in Brooklyn, a setback in the two decade-long litigation.

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Truist suffers data breach, hackers claim it affects 65,000 employees

American Banker

The threat actor Sp1d3r posted an ad for the stolen data on Wednesday. Truist said the October breach is not related to a campaign by the same criminal group.

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TESS Payments receives PSP licence from QCB

The Paypers

White-label payment gateway provider Akurateco has announced that TESS Payments , its Qatari partner, received a PSP licence from the Qatar Central Bank.

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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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3 ways Swift is deploying tech for payments

BankInovation

International payments network Swift is deploying technology to make its payments faster, safer and more efficient.

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Garanti BBVA introduces crypto wallet

The Paypers

Garanti BBVA Digital Assets , a subsidiary of Garanti BBVA Financial Technologies , has introduced a crypto wallet service on its mobile platform in Turkey.

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Apple Intelligence: ChatGPT coming to iPhones | Affirm buy now, pay later will be embedded into Apple Pay | Microsoft to delay launch of AI Recall

Bussman Advisory

This week’s must-know stories in the FinTech, AI and Digital Asset space. The latest edition of the FinTech Ecosystem Newsletter is here: Image Credit: shutterstock.com The post Apple Intelligence: ChatGPT coming to iPhones | Affirm buy now, pay later will be embedded into Apple Pay | Microsoft to delay launch of AI Recall appeared first on Bussmann Advisory AG.

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Is the Fed's tough love approach to housing too tough?

American Banker

Federal Reserve Chair Jerome Powell says crushing inflation is the most important thing the Fed can do to reduce costs in the housing market. Some economists and policy specialists say higher rates are not the only tool at its disposal.

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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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Bank of Ghana completes cross-border trade using digital credentials

The Paypers

The Bank of Ghana has announced the successful completion of cross-border trade using digital credentials, in collaboration with the Monetary Authority of Singapore.

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BNY's new branding, Virginia credit unions to merge

American Banker

BNY, the country's oldest bank, drops "Mellon" from its branding; Apple FCU announces plans to merge with NextMark Credit Union; Moelis probes incident after a video circulated online shows one of its senior bankers appearing to punch a woman; and more in this week's banking news roundup.

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BVNK adds Swift payments for stablecoin and fiat transfers

The Paypers

Stablecoin payments provider BVNK has announced the integration of Swift payments on its platform, facilitating transactions between USD, EUR, and stablecoins.

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Program aims to bridge mission-based banks' deposit gap

American Banker

IntraFi has joined two banking industry trade groups spearheading an effort to source large institutional deposits at small, cash-starved CDFI and MDI banks.

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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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Oscilar launches AI-powered ACH fraud detection

The Paypers

US-based Oscilar , a provider of AI-driven risk management solutions, has released AI-powered ACH fraud detection amid a rapid growth in ACH transactions.

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Judge likely to reject $30 billion Visa, Mastercard fee deal

American Banker

A $30 billion settlement between Visa Inc., Mastercard Inc. and retailers to cap credit-card swipe fees is likely to be rejected by a federal judge in Brooklyn, a setback in the two decade-long litigation.

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21X selects eflow for the compliance of its DLT exchange

The Paypers

Germany-based 21X has chosen eflow ’s holistic technology to drive its compliance strategy as it creates a European DLT exchange infrastructure for crypto and security tokens.

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Fed hits Synapse partner Evolve Bank with cease-and-desist order

American Banker

The Federal Reserve Board and the bank itself say the enforcement action is the result of a routine inspection, but it comes amid the fintech's complicated high-profile bankruptcy.

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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.