PayPal cost-cutting likely to persist
Payments Dive
FEBRUARY 8, 2024
The digital payments pioneer’s expense reductions may take years to benefit the company’s bottom line as management resets the business strategy.
Payments Dive
FEBRUARY 8, 2024
The digital payments pioneer’s expense reductions may take years to benefit the company’s bottom line as management resets the business strategy.
American Banker
FEBRUARY 8, 2024
Federal prosecutors allege that Shan Hanes, the former CEO of the now defunct Heartland Tri-State Bank, illegally took money from customers to fund cryptocurrency investments. He could face up to 30 years in prison if convicted.
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Payments Dive
FEBRUARY 8, 2024
The agency’s open banking proposal is a step in the right direction, but details of the policy will shape how the market develops, a regulatory adviser writes in this op-ed.
CFPB Monitor
FEBRUARY 8, 2024
On February 6, 2024, National Credit Union Administration (NCUA) Chairman Todd M. Harper spoke at a Brookings Institution event to outline his regulatory agenda and supervisory priorities for 2024. His prepared remarks addressed the 90 th Anniversary of the Federal Credit Union Act, credit union performance in third quarter of 2023, risks posed by third party service providers, liquidity management, and consumer financial protection.
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Discover the key benefits of portfolio loans and learn how to streamline your lending process with our infographic, "5 Things Lenders Need to Know About Portfolio Loans & Their Documentation." Find out how portfolio loans can maximize borrower potential by consolidating multiple properties under a single loan, reducing paperwork, and lowering closing costs.
Payments Dive
FEBRUARY 8, 2024
Digital payments provider Aeropay has lined up bank partners in an effort to facilitate faster access to winnings.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
American Banker
FEBRUARY 8, 2024
Jeremy Kress, a law professor at the University of Michigan, filed a petition for rulemaking to two bank regulators, asking them to adopt an unaffiliated director standard for larger banks to address conflicts of interest between banks and their holding companies.
CFPB Monitor
FEBRUARY 8, 2024
With federal student loans approaching $1.7 trillion, private student loans approaching $129 billion, strident consumer group advocacy, and national elections on the horizon, student loan origination and servicing continues to be a focal point for federal and state regulators. In this episode, which repurposes a webinar, we first discuss recent developments at the Department of Education involving loan forgiveness, the framework for servicer accountability, preemption guidance, and new repaymen
William Mills
FEBRUARY 8, 2024
In the ever-evolving landscape of financial technology (Fintech), where innovation and competition are the norm, the ability to generate high-quality leads is crucial. For Fintech companies looking to serve financial institutions, effective lead generation is not just a strategy, it's the lifeline for sustainable growth. In this two-part series, we'll explore the intricacies of lead generation tailored to the unique challenges and opportunities within the Fintech sector.
American Banker
FEBRUARY 8, 2024
It's early days in the Connecticut bank's testing of Cascading AI, but one clear benefit has emerged: The software can handle the many inquiries that come in on Friday nights, after loan officers have gone home.
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.
BankInovation
FEBRUARY 8, 2024
Industrywide, financial institutions are seeing an uptick in synthetic identities, scam activity and check fraud even as digital channel adoption grows. In fact, check fraud is expected to reach $24 billion in 2024, according to a Jan. 3 newsletter from Frank McKenna, chief strategist for AI-driven fraud detection platform Point Predictive.
American Banker
FEBRUARY 8, 2024
The consumer lender CURO Group said that its agreement with bondholders gives it a 30-day grace period, and that negotiations on a broader restructuring are continuing. The company has lost money in recent years as it shifts away from traditional payday lending to larger installment loans.
BankInovation
FEBRUARY 8, 2024
PayPal will invest in a new app to launch in 2024 alongside a new strategy to drive engagement with better consumer experiences like AI-driven shopping. “Redesigning our app and creating improved, frictionless onboarding paths are tangible ways that we plan to drive higher penetration,” Chief Executive Alex Chriss said during PayPal’s fourth-quarter earnings call.
The Paypers
FEBRUARY 8, 2024
AI-focused technology company Pagaya has closed a USD 280 million credit facility with BlackRock US Private Capital.
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.
American Banker
FEBRUARY 8, 2024
Treasury Secretary Janet Yellen didn't directly address the turmoil at New York Community Bank, and said that while some smaller institutions could be hit by a changing commercial real estate market, she doesn't anticipate these mortgages will become a systemic risk.
The Paypers
FEBRUARY 8, 2024
Web3 services platform Chainlink has announced it now supports a PYUSD (PayPal’s USD-backed stablecoin issued by Paxos) Price Feed on the Ethereum mainnet.
American Banker
FEBRUARY 8, 2024
Through a partnership with technology firm ServiceNow, the card network is offering ways to reduce banks' cost and complexity of resolving disputed transactions.
The Paypers
FEBRUARY 8, 2024
Embedded financial solutions provider Cross River has partnered with digital payments provider Aeropay to expand the latter’s current offerings.
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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.
American Banker
FEBRUARY 8, 2024
The original lawsuit was one of several filed in 2014 in a coordinated effort among federal and state regulators aimed at fraudsters trying to cheat distressed mortgage borrowers.
The Paypers
FEBRUARY 8, 2024
IDEMIA Secure Transactions has partnered with the Arab National Bank to launch a card developed with Braille printing technology in the Kingdom of Saudi Arabia.
The Emmerich Group
FEBRUARY 8, 2024
I believe that most of your salespeople have only begun to tap into their true potential. They just don’t have the confidence to go after large deals that are happy with their current bank and ask for premium pricing. In this episode, I’m going to show you how the right sales system can help your people get excited about and effective at pulling in the very best customers…without PRICE even being brought up.
The Paypers
FEBRUARY 8, 2024
The European Parliament has adopted a new set of rules to ensure that transferred funds arrive immediately in bank accounts across the EU.
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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
American Banker
FEBRUARY 8, 2024
The Providence, Rhode Island, company has recruited a head of wealth management advisors and a head of private wealth managers as part of a new strategy to reel in high-net worth clients.
The Paypers
FEBRUARY 8, 2024
US-based digital asset exchange Kraken has successfully secured a VASP registration from the Dutch Central Bank , aimed at its European development strategy.
American Banker
FEBRUARY 8, 2024
The Commodity Futures Trading Commission privately authorized sending subpoenas to Goldman for information about fees charged for some futures block trades, according to people familiar with the matter.
The Paypers
FEBRUARY 8, 2024
Lithuania-based identity verification company iDenfy has partnered with RaiseFX to optimise security and the customer experience in online CFD trading.
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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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