4 takeaways from Michael Barr’s DC Fintech Week speech
Payments Dive
OCTOBER 13, 2022
The Federal Reserve’s vice chair for supervision stressed caution for banks’ ties to crypto and spotlighted how stablecoins differ from other digital assets.
Payments Dive
OCTOBER 13, 2022
The Federal Reserve’s vice chair for supervision stressed caution for banks’ ties to crypto and spotlighted how stablecoins differ from other digital assets.
TheGuardian
OCTOBER 13, 2022
There is ‘no justification for lifting the cap’ on bonuses, said general secretary Frances O’Grady Bankers’ bonuses have doubled since the 2008 financial crash, according to research by the TUC, which accuses the government of enriching City financiers while “holding down” the pay of key workers. The unions’ umbrella body said bonuses in finance and the insurance sector have reached a record £20,000 a year on average – which it says is almost one-and-a-half times the average pay collected by tea
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Payments Dive
OCTOBER 13, 2022
As the startup environment shifts, founders of fintechs that have received support from Mastercard shared their thoughts on culture, evolving technology and embracing the unknown.
TheGuardian
OCTOBER 13, 2022
Survey of lenders paints gloomy picture of new deals drying up and end to ‘golden era’ of cheap mortgages The number of mortgage defaults are expected to rise in the coming months, according to Bank of England data released on Thursday, while the number of new loans will continue to fall amid warnings that the “golden era” of cheap deals is ending. The UK central bank’s latest quarterly credit conditions survey paints a gloomy picture, with the number of mortgage deals already falling before the
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.
Payments Dive
OCTOBER 13, 2022
“Not all payment platform companies are managing operational and security as judiciously as they could, and that will eventually result in costly payment failures, customer friction, or potentially a breach,” writes PayNearMe Vice President Tim Murphy.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Dive
OCTOBER 13, 2022
Patrick Collison, who founded the company with his brother, gave an edge to the European Union in creating a regulatory regime where fintechs are thriving.
CFPB Monitor
OCTOBER 13, 2022
We discuss the FDIC’s final rule on misuse of the FDIC name or logo, advisory to insured banks on deposit insurance and dealings with crypto companies, and cease and desist letters to five crypto companies alleging they made false and misleading statements about deposit insurance. We also discuss the CFPB’s circular warning that a misrepresentation involving the FDIC name or logo can constitute a UDAAP violation.
The Paypers
OCTOBER 13, 2022
Online food delivery company Deliveroo has partnered with Sweden-based Buy Now, Pay Later platform Klarna to offer customers the possibility to buy groceries and takeout food on credit.
Bussman Advisory
OCTOBER 13, 2022
FinTech Ecosystem Insights by Bussmann Advisory is our weekly newsletter with over 40’000 subscribers across different social media channels, summarizing relevant news and reports related to ecosystems around disruptive technologies, highlighting key updates from the industry as well as our portfolio companies: Apple partners Goldman Sachs for savings account Goldman’s Marcus facing uncertain future amid sky-high losses and staff discontent Google Cloud partners with Coinbase for
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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
The Paypers
OCTOBER 13, 2022
US-based fintech Payload has started collaborating with Premier Data Services to launch an integration with SoftPro , a provider of escrow and closing software.
BankInovation
OCTOBER 13, 2022
Fintech GoHenry, which provides pre-paid debit cards and a financial education app for children, on Wednesday announced it has raised $55 million in a series B funding round and plans to expand into new markets with new features. Existing investors Edison Partners and Revaia joined the latest funding round with new capital from Italian fintech […].
The Paypers
OCTOBER 13, 2022
Fintech credit and payment company MarketFinance has secured GBP 30 million from Viola to expand its B2B Pay Later embedded finance offering for SMEs.
BankInovation
OCTOBER 13, 2022
Farmers State Bank is partnering with Teslar Software to automate its commercial lending operations. The $81 million bank plans to first leverage Teslar’s indirect lending solution to better manage exceptions and past due loans before adding other modules over time, according to a release. “Our bank has steadily grown over the past decade, and it […].
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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
PopularBank
OCTOBER 13, 2022
ACH transactions are electronic payments or money transfers over the automated clearing house (ACH) network. The ACH network can be used to process transactions such as direct debits, direct deposits, direct payments, electronic checks, and electronic funds transfers. Unfortunately, these types of transactions can be susceptible to ACH fraud. ACH transactions are more common than you might think.
ABA Community Banking
OCTOBER 13, 2022
“Diverse teams who have cohered at a team — this means they’ve done some work — outperform homogenous teams,” says ABA SVP Naomi Mercer. “Diverse teams who haven’t done that work of inclusion underperform homogenous teams.” On the latest episode of the ABA Banking Journal Podcast — sponsored by SmartStream — Mercer goes beyond diversity [.].
The Paypers
OCTOBER 13, 2022
BNP Paribas has agreed to acquire Kantox , a UK-based currency management automation company, for USD 133 million.
American Banker
OCTOBER 13, 2022
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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.
The Banker
OCTOBER 13, 2022
The Financial Conduct Authority expects the Consumer Duty to lead to a major shift in financial services. Wholesale firms will need to ensure they are ready to implement the changes required to comply. By Elisabeth Øverland and Mark Kalderon of Freshfields Bruckhaus Deringer.
The Paypers
OCTOBER 13, 2022
Financial management app Snoop has partnered with Tink to offer customers personalised insights into how they can cut on their bills, grow savings, and pay debt.
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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.
The Paypers
OCTOBER 13, 2022
US-based Citi Treasury and Trade Solutions has announced plans to launch ‘24/7 Clearing’ as a service, starting with 24/7 USD Clearing in Q4 2022.
American Banker
OCTOBER 13, 2022
The Paypers
OCTOBER 13, 2022
BNY Mellon has announced that its Digital Asset Custody platform is live in the US, with select clients now able to hold and transfer Bitcoin and Ether.
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