Wed.Mar 15, 2023

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A 'green' digital debit card concedes the need for plastic

American Banker

Cards 69
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Visa, Mastercard depict bank failure impact

Payments Dive

As bank card issuers faltered this past weekend, the card networks monitored payments closely, Visa and Mastercard executives said at a conference.

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How to Build a Payment Test Automation Strategy for 2023

ATM Marketplace

Automated testing helps to identify and resolve issues faster and more efficiently, leading to improved user experience and increased customer satisfaction.

Strategy 122
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Fiserv, Jack Henry CEOs react to bank crisis

Payments Dive

Payments processors’ CEOs this week described how their companies were affected by the recent bank industry turmoil, downplaying the impact.

Industry 300
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5 Things Lenders Need to Know About Portfolio Loans & Their Documentation

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.

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Learn How To Start Fix And Flip Loans No Money Down

Commercial Lending USA

fix and flip loans no money down have become popular with investors because they allow you to use someone else's money to fund your project. That's right.

How To 98

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Credit Suisse shares fall to record low as top investor rules out more funding

TheGuardian

Saudi National Bank says it cannot stump up more cash because of regulatory restrictions Credit Suisse shares have plunged more than 20% to record lows after its largest shareholder, Saudi National Bank (SNB), said it would not be able to stump up more cash for the beleaguered Swiss bank because of regulatory restrictions. SNB’s chair, Ammar al-Khudairy, said he would not be able to spend any more money to support Credit Suisse, since the Middle Eastern lender had already accumulated a 9.9% stak

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CFPB and DOJ file statement of interest in lawsuit alleging lender violated ECOA and FHA by denying loan based on appraisal alleged to be discriminatory

CFPB Monitor

The Consumer Financial Protection Bureau (CFPB) and the Department of Justice (DOJ) have filed a Statement of Interest regarding the application of the Fair Housing Act (FHA) and the Equal Credit Opportunity Act (ECOA) to a lender that allegedly denied a loan to the plaintiffs based on a home appraisal alleged to be discriminatory.

Lending 78
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SVB collapse may be start of ‘slow rolling crisis’, warns BlackRock boss

TheGuardian

Larry Fink tells investors more ‘shutdowns and seizures’ in US possible and predicts inflation and interest rates to rise The collapse of Silicon Valley Bank could just be the start of “a “slow rolling crisis” in the US financial system with “more seizures and shutdowns coming”, the chief executive of the world’s largest asset manager has warned. The CEO of BlackRock, Larry Fink, also predicted in a letter to investors and company bosses that inflation would persist and rates continue to rise, t

US 76
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CRIF, iwoca partner for Open Banking-powered lending for UK SMEs

The Paypers

In a bid to support UK small and medium-sized businesses (SMEs) struggling with the cost of living crisis, CRIF and iwoca have joined forces to bring Open Banking-powered instant lending to SMEs in the country.

Lending 68
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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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Credit Suisse: what is happening at Swiss bank and should we be worried?

TheGuardian

Plunge in bank’s share price adds to fears over weaknesses in banking sector following collapse of SVB Credit Suisse shares fall to record low as top investor rules out more funding Panic has gripped global banking stocks for the second time in a week: the wave of fear prompted by the collapse of California’s Silicon Valley Bank (SVB) has been followed by fresh jitters over the stability of major European bank Credit Suisse.

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Clik2pay partners with Xero

The Paypers

Payment service provider Clik2Pay has announced its partnership with global small business platform Xero to save a part of Canadian SMEs’ credit card fees.

Cards 68
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‘Lungs of the startup world’: bank fall upends most Silicon Valley industries

TheGuardian

Demise of Silicon Valley Bank has rattled not just businesses and investors but the ecosystem that grew up around it Startup founders, venture capitalists and aspirational entrepreneurs descended on Austin on Friday for the annual South by Southwest conference as they do every year. But as the day wore on, a sense of fear and confusion began to take hold amid the usual energy and buzz in the Texas capital.

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National Australia Bank issues Ethereum stablecoin

The Paypers

National Australia Bank (NAB) has completed its first intra-bank cross-border transaction using its own stablecoin via Ethereum.

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Breaking New Ground: Managing Innovation Fatigue With Effective Automation

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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Budget 2023: Hunt overhauls pensions, benefits and childcare in push for growth

TheGuardian

Chancellor pledges cash for businesses and parents, and says UK will avoid recession this year Budget 2023 live: reaction to Jeremy Hunt’s statement Budget 2023: key points at a glance Jeremy Hunt has said he is “proving the doubters wrong” as he used a stronger than expected economic performance to help fund new tax breaks for business investment and a drive to get people back into the workforce.

Taxes 70
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UK, US move to address SVB collapse

BankInovation

LONDON — The United States and the United Kingdom are trying to sort out the impact of Silicon Valley Bank’s collapse on fintechs. In the U.S., the Federal Deposit Insurance Corporation (FDIC) will guarantee bank deposits up to $250,000, including in insured bank branches in foreign banks that are payable to contract in the U.S.

FDIC 52
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Credit Suisse takes $54bn loan from Swiss central bank after share price plunge

TheGuardian

After largest shareholder was unable to provide backing, Europe’s 17th largest lender says it will use government help to become ‘simpler and more focused’ Credit Suisse has announced that it will take a CHF50bn ($53.7bn) loan from the Swiss central bank, in an action it says will “pre-emptively strengthen its liquidity” as it moves to stem a crisis of confidence a day after its share price plummeted.

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Germany-based LBBW on SVB

BankInovation

LONDON – Startup founders at FinovateEurope were initially worried about the deposits they had with tech bank Silicon Valley Bank, until the HSBC rescue emerged earlier this week, Stephan Paxmann, head of digitalization and innovation at nearly $300 billion Germany-based bank LBBW, told Bank Automation News Tuesday at the event in London.

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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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Credit Suisse has shot itself in the foot – and wounded the banking system | Nils Pratley

TheGuardian

The Swiss lender is deemed ‘systemically important’ so the jittery markets are studying the bank carefully – very carefully Credit Suisse: what’s happening and should we be worried? Full story: Swiss bank’s shares fall to new record low Credit Suisse’s ability to shoot itself in the foot is legendary but you would have thought its shareholders would have learned not to make matters worse.

System 65
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2023, the Year of Commercial Lending Transformation

BankInovation

There are many reasons to modernize your commercial lending technology. Make 2023 a year of transformation for these core reasons: Enabling a digital omnichannel experience One loan system for multiple lines of business Real-time access to data System agility to grow These all support the main priority—improving the customer experience.

Lending 52
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‘The first Twitter-fuelled bank run’: how social media compounded SVB’s collapse

TheGuardian

The speed at which Silicon Valley Bank collapsed has left experts questioning whether social media has opened up entirely new risks in the world of finance Shares in banks all over the world have plummeted in recent days as fears that the collapse of Silicon Valley Bank (SVB) could precipitate a wider crisis in the sector. The speed at which market jitters have spread across the world have forced bank executives and regulators to move with unprecedented swiftness: US authorities guaranteed all d

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BankiFi and Financialle partner for product launch

The Paypers

UK-based fintech company BankiFi has announced its partnership with Financielle to launch a new playbook for SMEs, aimed to improve their business management.

Fintech 58
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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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Hunt’s budget shows Britain is doing less badly – that’s not the same as doing well

TheGuardian

Chancellor delivers ‘budget for growth’ but UK is battling rising interest rates, rising taxes and a cost of living crisis Budget 2023 live: reaction to Jeremy Hunt’s statement Budget 2023: key points at a glance What the budget means for people on a range of incomes In 2020 it was the global pandemic. In 2022 it was Russia’s invasion of Ukraine. This year’s budget took place amid fears of a fresh global banking meltdown.

Taxes 53
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Credit Suisse latest bank to tank

BankInovation

Credit Suisse shares plummeted more than 20% at market open from the news that Saudi National Bank will not provide more funding to Credit Suisse.

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Ex-Wells Fargo executive Carrie Tolstedt agrees to guilty plea

American Banker

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Worldline launches payment platform on Solana

The Paypers

Worldline , a global player in payment services, has launched a strategic initiative with Solana , a blockchain platform designed for decentralised application and Web3 use cases.

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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.