Mon.Jul 18, 2022

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What Is Not Considered a TRACE-Eligible Security and What Should Not Be Reported

Perficient

A TRACE-eligible security does not include a debt security that is issued by a foreign, sovereign government or a money market instrument. A money market instrument is, other than a U.S. Treasury Security, a debt security that at issuance has a maturity of one calendar year or less, or if an agency or government-sponsored enterprise (GSE), a maturity of one calendar year and one day or less.

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Modern Treasury expands on demand, readies for FedNow

Payments Dive

The company has more than doubled its headcount over the past year to meet demand for its payments software from clients like Marqeta and Gusto. Now, it plans more expansion for real-time services.

Meeting 397
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75bps Returns as the Expected Rate Hike for Next Week

South State Correspondent

75bps Returns as the Expected Rate Hike for Next Week. The initial chatter about a possible 100bps rate hike that came after the ugly June CPI report has died down and a 75bps rate hike has returned as the consensus outlook for next week’s FOMC meeting. The chatter died down immediately after Friday’s University of Michigan Sentiment Survey found long-run inflation expectations had edged lower to 2.8% from 3.1% previously and 3.0% expected.

Michigan 195
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5 essential features to look for in an omnichannel commerce partner

Payments Dive

An experienced commerce partner can help provide the technology needed to help merchants keep up.

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Digital Transformation: Accelerating ROI and Growth in Commercial Lending

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

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Bank of America invests $800M in tech in Q2

BankInovation

Bank of America’s efforts to boost its digital tools are paying off, and the $3.1 trillion bank plans to continue its technology investments amid increased customer adoption of the bank’s digital tools. The bank invested in and implemented $800 million in technology in the second quarter, Chief Financial Officer Alastair Borthwick said during today’s earnings […].

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Oil climbs after Biden fails to secure Saudi output hike – business live

TheGuardian

Brent crude prices pushed past $100 per barrel after US president Joe Biden failed to secure output hike agreements with the world’s top oil exporter We’re expecting further travel chaos and some services to be impacted by surging temperatures today. Follow our dedicated UK heatwave live blog today for the latest: GSK’s consumer spin-off Haleon, home to brands from Sensodyne toothpaste to Panadol painkillers, has begun trading on the London Stock Exchange in the biggest European listing in a dec

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Bank of America fined $225M over 'botched' disbursement of unemployment benefits

Payments Dive

The CFPB accused the bank of implementing a faulty fraud filter that would trigger an account freeze over a “simple set of flags.

America 195
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Mastercard Engage expands to offer open banking

BankInovation

Global technology partner program Mastercard Engage announced the addition of open banking to its platform last week to bring secure connectivity and onboarding processes to its partners. Mastercard Engage, an application programming interface (API)-driven platform, connects businesses with technology partners to build, launch or grow payments solutions, according to a Mastercard statement.

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Stake, Aliaswire target rental payment flows

Payments Dive

The companies see millions of dollars of opportunity in offering new ways for management of rental payment flows.

Payments 195
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The State of Automation in Financial Services 2024 Report

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

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FICO Fact: Can unconstrained AI/ML expand access to credit?

FICO

Home. Blog. FICO. FICO Fact: Can unconstrained AI/ML expand access to credit? FICO has been a pioneer in the use of machine learning (ML) in the financial services industry for over 25 years. FICO. Tue, 07/02/2019 - 02:45. by Can Arkali. expand_less Back To Top. Mon, 07/18/2022 - 18:40. FICO leverages machine learning (ML) in solutions ranging from fraud detection to marketing.

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Five Southeast Asian countries to welcome linked QR code payments

The Paypers

The central banks of five Southeast Asian countries have agreed to link their payment systems by November 2022 to provide seamless transactions for travellers within the region.

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Mastercard works to become an open banking matchmaker

American Banker

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Stor.ai partners with Vallarta supermarket chain

The Paypers

End-to-end digital commerce solution for grocers, Stor.ai , has announced its partnership with local US-based Vallarta Supermarkets chain to implement its platform in Vallarta stores.

US 52
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Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance

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.

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Nepal’s banks battle isolationism

The Banker

Nepal’s banks appear resilient to the worst shocks of the pandemic, with strong balance sheets and low non-performing loan ratios. Beneath this, there is discontent over a slow to change regulatory system, which is stifling growth. Kimberley Long reports.

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Nigeria could use Mir payments cards

The Paypers

Nigeria’s ambassador to Russia, Abdullahi Shehu, has announced that Nigeria and Russia are discussing the possibility of using the Russian Mir payment system cards in the African country.

Cards 41
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Nepal’s economy struggles with import dependence

The Banker

Remittances from overseas workers comprise a significant portion of Nepal’s foreign currency reserves for this import-dependent country. Kimberley Long reports on how this is restricting the economy.

Report 36
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BNB Chain launches Web3 anti-fraud platform

The Paypers

BNB Chain has launched a new platform, DappBay, to discover new Web3 projects, and warn users of potential rug pulls and scams.

Fraud 52
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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

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.

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158 companies helping retail banking leaders protect consumers from fraud, manage risk, and more

CB Insights

As fraud and cyber threats become more prevalent and sophisticated, retail banks’ mandate to protect their customers, comply with regulatory mandates, and assess risk across their entire organization has become more important than ever. In response to heightened threats and the costs associated with them, banks are prioritizing technology solutions that make fraud prevention, identity verification, and risk management more effective. get the state of fintech q2 2022 report before anyone el

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RBI discusses a potential ban on cryptocurrencies

The Paypers

The Reserve Bank of India (RBI), the country’s national bank, has discussed the future of virtual digital assets, indicating a strong regulation or total ban of cryptocurrencies in the world’s second largest Internet market.

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‘Fintechs in the crosshairs’: Lenders deploy fairness testing software

American Banker

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AsiaPay offers digital payments and security to Krungsri

The Paypers

Thailand-based AsiaPay has signed agreement to supply white-labelled licensed payment gateway and 3-D secure 2.0 solution for Krungsri (Bank of Ayudhya).

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Top 10 Benefits of Automating Loan Modifications for Commercial Lenders

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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Synchrony ‘very encouraged’ by consumers’ resilience amid inflation

American Banker

Cards 78
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Visa and Pecunpay launch Visa Direct for instant payments

The Paypers

Global digital payments processor and card issuer Visa has partnered with Spain-based fintech Pecunpay to launch a new solution, Visa Direct , which allows customers to send and receive money instantly.

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CFPB’s garnishment order makes a muddle of law and procedure

American Banker

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Stripe loses 28% in valuation

The Paypers

US-based payments company Stripe has lost its valuation by 28%, becoming the latest privately-funded fintech to suffer from the repercussions of a sustained sell-off of tech shares, according to Financial IT.

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2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

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.