Who’s afraid of FedNow? Not Visa
Payments Dive
SEPTEMBER 1, 2022
Visa's CFO on Wednesday brushed off any concerns about the threat of new competition from FedNow, or any other real-time payments system.
Thu.Sep 01, 2022
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Two key factors for a successful fintech integration
Accenture
SEPTEMBER 1, 2022
As promised in our last post, today we are diving deeply into why a technology integration strategy is a critical enabler for a successful fintech acquisition and for fostering (and, ideally, for accelerating) the growth of the fintech. Historically, the banking industry has been slow to modernize. This makes it challenging for most incumbent banks….
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Fiserv buys LR2 Group
Payments Dive
SEPTEMBER 1, 2022
The global payments processor said it paid $26 million to acquire the independent sales organization, which had been a long-time partner.
FTC enters into consent order with Credit Karma to settle deceptive practices claims in connection with pre-approvals
CFPB Monitor
SEPTEMBER 1, 2022
The Federal Trade Commission has entered into a consent order with Credit Karma, LLC to settle the FTC’s claims that Credit Karma engaged in deceptive acts and practices in violation of Section 5 of the FTC Act by making false or misleading claims that consumers were pre-approved for certain credit products. The order requires Credit Karma to pay $3 million to the FTC, which sum “may be deposited into a fund administered by the Commission or its designee to be used for relief, including consume
Elevating Accounting Practices: The Power of Outsourcing and Automation in the Digital Age
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.
Winners announced at Bank Customer Experience Summit Awards Show
ATM Marketplace
SEPTEMBER 1, 2022
The Bank Customer Experience Summit, held this year in Chicago from Aug. 31 to Sept. 1, recognizes innovation in the banking sphere with its annual awards show. This year was no exception as the winners run the gamut of the banking world.
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When Consumer Credit Surges, It’s Time to Offer Payment Protection
SWBC's LenderHub
SEPTEMBER 1, 2022
In his Q3 Economic Outlook for Financial Institutions , SWBC’s Chief Economist, Blake Hastings , provided the following insights on rising consumer credit and deteriorating borrower balance sheets: Consumer balance sheets are still relatively healthy, today, thanks in large part to the rounds of stimulus during the pandemic. Those savings have been spent and credit card usage has risen an astonishing 13% quarter-over-quarter.
Mitigating the Financial Health Crisis
BankInovation
SEPTEMBER 1, 2022
The United States is facing a financial health crisis. The majority of Americans struggle to save, spend, borrow, or plan in ways that allow them to recover successfully from challenges or take advantage of opportunities to improve their circumstances. According to the Financial Health Network, as of May 2021, a staggering 66% were not financially […].
This week’s podcast episode: The Third Circuit’s decision in Bibbs v. Trans Union: What it means for Fair Credit Reporting Act litigation
CFPB Monitor
SEPTEMBER 1, 2022
In Bibbs , the Third Circuit ruled that in determining whether a credit report is inaccurate or misleading under the FCRA’s “maximum possible accuracy” requirement, a district court should apply a “reasonable reader” standard. After reviewing the background of Bibbs , we discuss the analysis that Bibbs requires a district court to perform in determining whether a credit report is inaccurate or misleading, how Bibbs broadly undercuts the claims of plaintiff’s lawyers in FCRA cases alleging pay s
Working Capital SBA Loan Definitive Guide That Can Help Your Business Grow
Commercial Lending USA
SEPTEMBER 1, 2022
Working capital SBA loan. Apply for a low-interest, fixed-rate loan for your business today. You must ensure the loan is affordable for you.
Digital Transformation: Accelerating ROI and Growth in Commercial Lending
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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
TrueLayer partners crypto exchange Bybit
The Paypers
SEPTEMBER 1, 2022
TrueLayer , a European Open Banking platform, has announces its collaboration with cryptocurrency exchange Bybit to deliver rapid fiat deposits across Europe.
Nutanix reports 37% revenue jump
BankInovation
SEPTEMBER 1, 2022
Cloud computing company Nutanix is seeing a jump in revenue as its clients continue to embrace digital transformation. The San Jose, Calif.-based software provider reported a 37% year-over-year increase in revenue of $1.2 billion for its fiscal fourth quarter that ended July 31. The company credits a customer base that is increasingly leaning into cloud […].
Qatar Central Bank issues first license for iPay and Ooredoo
The Paypers
SEPTEMBER 1, 2022
Qatar Central Bank has issued the first license for digital payments to two companies that provide electronic payment services – iPay and Ooredoo.
Jack Henry taps Google Cloud for tech modernization
BankInovation
SEPTEMBER 1, 2022
Google Cloud will power core provider Jack Henry’s cloud-first service offerings for bank and credit union clients. The technology will modernize the core provider’s existing data, reporting and integrations systems, Ben Metz, chief digital and technology officer at Jack Henry, told Bank Automation News. “We are building services in the cloud environment while maintaining our […].
The State of Automation in Financial Services 2024 Report
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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
HMRC extends the use of Open Banking
The Paypers
SEPTEMBER 1, 2022
HM Revenue & Customs (HMRC) has extended its use of Open Banking to 24 further tax regimes so far in 2022, according to Global Government Fintech.
European SMEs face challenges with payments speed, study shows
The Paypers
SEPTEMBER 1, 2022
Banking-as-a-Service provider Vodeno has issued a study showing that European SMEs have concerns about the speed of payments and the need to modernise the system.
Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance
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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.
MPs demand looser challenger banking regulation
The Paypers
SEPTEMBER 1, 2022
The All-Party Parliamentary Group on Challenger Banks and Building Societies has issued a report calling for an improved regulatory model to loosen the rules challenger banks are subject to, as reported by AltFi.
Worldline and JD Group enable charitable donations with Pennies
The Paypers
SEPTEMBER 1, 2022
France-based payment services provider Worldline has partnered with retailer JD Sports Group to allow customers to make donations using Pennies ' micro-donation application.
2024 Lending Outlook: Innovations and Evolutions in the Financial Sector
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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.
Bitcoin custodian StackinSat partners with crypto firm Ledger
The Paypers
SEPTEMBER 1, 2022
French Bitcoin broker and custodian StackinSat has announced that users of crypto firm Ledger’s app will be able to access its services.
SumUp rolls out digital wallet equipped with loyalty scheme
The Paypers
SEPTEMBER 1, 2022
UK-based fintech SumUp has launched SumUp Pay, a digital first wallet with an integrated loyalty scheme to facilitate shopping locally and get rewards.
Elavon debuts subscription point of sale to cut stores' upfront costs
American Banker
SEPTEMBER 1, 2022
Top 10 Benefits of Automating Loan Modifications for Commercial Lenders
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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.
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