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Payments Dive
MAY 24, 2023
“It is unclear why critics want to place EWA in the credit silo and call for heavy-handed regulations to restrict access to EWA products,” argues the CEO of the Innovative Payments Association.
Payments Dive
MAY 24, 2023
“It is unclear why critics want to place EWA in the credit silo and call for heavy-handed regulations to restrict access to EWA products,” argues the CEO of the Innovative Payments Association.
Abrigo
MAY 24, 2023
The SAFE Banking Act could bridge the state and federal cannabis banking gap Read more for the legislation's history and how it benefits financial institutions looking to profitably bank CRBs. You might also like this whitepaper, "Cannabis and financial institutions: Providing services to cannabis-related businesses." Download now Takeaway 1 Under current federal law, banks and credit unions face federal prosecution and penalties if they provide services to legal marijuana-related businesses.
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Payments Dive
MAY 24, 2023
The Block business is seeking older, higher-income users as it pursues diversified growth, CEO Jack Dorsey said.
CFPB Monitor
MAY 24, 2023
A fintech peer-to-peer lender has entered into separate consent orders with California, Washington D.C., and Connecticut relating to its practice of requesting tips and donations in connection with the loans offered through its platform. The fintech’s platform offers opportunities for members to act as borrowers or lenders and facilitates loans between its members.
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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
Payments Dive
MAY 24, 2023
In 2015, the bank improperly denied customer reports of fraud and unauthorized use and, in some cases, failed to fully reimburse users, the CFPB said.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Jeff For Banks
MAY 24, 2023
Rafael Peralta was born April 7, 1979 in Mexico City. He graduated from San Diego's Morse High School in 1997. But he had to wait to receive his green card before he could enlist. In 2000, he received it, and on that very day he enlisted in the U.S. Marine Corps as a rifleman. He would later become a U.S. citizen while serving. In 2001, Peralta was deployed overseas when his father died in a workplace accident.
The Paypers
MAY 24, 2023
Urugay-based payments platform dLocal has announced that the Central Bank of Kenya and the National Bank of Rwanda granted dLocal their respective payment service licenses.
CB Insights
MAY 24, 2023
Y Combinator ‘s Winter 2023 batch welcomed 48 fintech startups, representing nearly a fifth of the total W23 cohort. Business-to-business (B2B) fintechs were central to its strategy — in fact, 85% of the fintechs accepted in W23 cater to businesses. While 77% of the fintech companies in the W23 cohort are based in the United States, Y Combinator also turned to emerging markets.
The Paypers
MAY 24, 2023
UK-based prepaid debit card and financial education app for kids GoHenry has partnered with Snowdrop Solutions to improve transaction location capabilities.
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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
CB Insights
MAY 24, 2023
Apple ‘s high-yield savings account, unveiled in April through a partnership with Goldman Sachs , reached almost $1B in deposits in the first 4 days alone and 240,000 accounts in the first week. This wasn’t the first time Apple has sent waves across the fintech landscape. Since Apple’s foray into the space almost a decade ago, the company has been gradually shaping itself into a fintech giant.
BankInovation
MAY 24, 2023
Scotiabank invested in technology in the second quarter driven by project-related costs and software and licensing expenses. The Canadian bank’s tech spend in Q2 increased 13% year over year to $383 million, according to the bank’s quarterly earnings presentation.
TheGuardian
MAY 24, 2023
Traders at five banks found to have discussed British government bond trading between 2009 and 2013 The UK’s competition watchdog has provisionally found that five major banks broke competition law by unlawfully exchanging sensitive information about British government bond trading in online chatrooms. In an investigation, the Competition and Markets Authority has found that the banks – Citi, Deutsche Bank, HSBC, Morgan Stanley and Royal Bank of Canada – shared competitively sensitive informatio
BankInovation
MAY 24, 2023
Visa is launching cross-wallet transactions platform Visa+ this summer, and PayPal, Venmo and TabaPay will be among person-to-person payment apps integrated into the platform.
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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.
CB Insights
MAY 24, 2023
ESG (environmental, social, and governance) investing is at a crossroads. 2022 was a year of draining flows to sustainable funds, disappointing ESG investment performance, and political backlash in the US. There are mixed reports on ESG demand and performance. However, several prominent data providers still suggest a relatively healthy market and appetite for ESG among investors.
BankInovation
MAY 24, 2023
Bank of Montreal introduced a new digital account opening program and finalized its integration of Bank of the West during the second quarter.
The Banker
MAY 24, 2023
Rising wealth inequality and booming corporate savings fuelled a ‘deposit glut’, increasing bank fragility; Silicon Valley Bank was the first victim, writes Guillaume Vuillemey.
Tomorrow's Transactions
MAY 24, 2023
Mobile first has driven the expectation of immediacy. and that has to be reflected in the payment infrastructure that supports our digital payment experience The post Real-time payments, right now, with FedNow. first appeared on Consult Hyperion.
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Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.
The Paypers
MAY 24, 2023
Australia has planned to regulate Buy Now, Pay Later (BNPL) services as a consumer credit product, requiring providers to perform background checks prior to lending.
CB Insights
MAY 24, 2023
Biometric technology is revolutionizing the financial and retail sectors. Established players and innovative disruptors are embracing biometric payments — which verify and process payments using a customer’s physical features (e.g., face or palm) — to provide transactions that are more secure, efficient, and personalized. Tech giants like Apple and Google have already introduced facial recognition for payments.
The Paypers
MAY 24, 2023
India-based fintech PhonePe has received an additional USD 100 million from General Atlantic , raising the total to USD 850 million in its ongoing financing round.
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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.
CB Insights
MAY 24, 2023
ESG (environmental, social, and governance) investing is at a crossroads. 2022 was a year of draining flows to sustainable funds, disappointing ESG investment performance, and political backlash in the US. There are mixed reports on ESG demand and performance. However, several prominent data providers still suggest a relatively healthy market and appetite for ESG among investors.
The Paypers
MAY 24, 2023
Payments company Thunes has partnered with Saudi Arabia-based digital bank D360 Bank to power instant cross-border payments across MENA and key global markets.
The Paypers
MAY 24, 2023
Fintech company Monese has launched its XYB banking platform, aimed to improve the way banks make financial services accessible for UK and European clients.
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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.
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