Payments Dive

SEPTEMBER 16, 2022

The Consumer Financial Protection Bureau is weighing new rules and guidance for the fast-growing buy now-pay later industry after wrapping up a comprehensive report on it.

Industry 396

Industry Report 396

Perficient

SEPTEMBER 16, 2022

Similar to what the OCC issued in December 2021 , in August 2022, the Federal Reserve Board (FRB) issued a Supervisory Letter outlining the steps FRB member banks should take prior to engaging in crypto-asset-related activities, such as assessing whether such activities are legally permissible and determining whether any regulatory filings are required.

Compliance 275

Compliance Risk Management System Regulation 275

Payments Dive

SEPTEMBER 16, 2022

The Biden administration wants the Securities and Exchange Commission and the Commodity Futures Trading Commission to “aggressively pursue investigations and enforcement actions against unlawful practices in the digital assets space.

Regulation 367

Regulation Security 367

South State Correspondent

SEPTEMBER 16, 2022

Treasury Yields Continue to Creep Higher. Another round of global risk asset selling has our markets ready to open lower and Treasuries are going along for the ride. S&P 500 equity futures are indicated lower by 51 points to 3868. The index bottomed at 3685 in June, so still a distance away but a retest of that low seems to be in the cards as the FOMC meeting looms.

Michigan 195

Michigan Marketing Survey Meeting 195

Advertisement

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

Lending

Payments Dive

SEPTEMBER 16, 2022

The chief financial officers at American Express and Discover each said this week that pre-pandemic credit metrics for delinquencies and charge-offs won’t soon return.

284

284

Payments Dive

SEPTEMBER 16, 2022

The company, which aims to simplify freight shipment payments, plans to use $26 million in new capital and $100 million in debt financing to scale and give customers access to working capital.

Fintech 221

Fintech Capital Payments Company 221

ATM Marketplace

SEPTEMBER 16, 2022

Both banks and credit unions have struggled to keep up with changing consumer expectations. One credit union is addressing the issue by connecting members to fintech services without sacrificing security.

Fintech 96

Fintech Security 96

Payments Dive

SEPTEMBER 16, 2022

PayPal SVP of Capital Markets Gabrielle Rabinovitch will step in for her second round as interim CFO as Blake Jorgensen departs for medical leave.

Capital 221

Capital Marketing 221

TheGuardian

SEPTEMBER 16, 2022

Latest updates: Kwasi Kwarteng’s plan to lift cap criticised as ‘very bad timing’ during cost of living crisis In its response to the legal proceedings launched by the EU over the Northern Ireland protocol (see 11.54am) , the UK government has said that it has unilaterally decided to continue suspending border checks on farm produce and other goods entering NI from Great Britain, my colleague Lisa O’Carroll reports.

National 99

National Report 99

Advertisement

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

Report

Payments Dive

SEPTEMBER 16, 2022

BNPL players under the microscope at the Consumer Financial Protection Bureau pushed back against the federal agency’s plan to increase regulation of the industry.

Regulation 195

Regulation Industry 195

BankInovation

SEPTEMBER 16, 2022

NEW YORK CITY — U.S. Bank is exploring additional language options for its voice-enabled Smart Assistant over the next three to five years. “Something we’re just getting into is multilingual,” Sierra Fontana, user experience designer of the Smart Assistant at U.S. Bank, said during the panel discussion “AI in Action: How Smart Players are Harnessing […].

New York City 98

New York City US User Experience New York 98

TheGuardian

SEPTEMBER 16, 2022

Some of the chancellor’s other proposals may represent a step back to the light-touch era that led to 2008-09 crash Kwasi Kwarteng’s proposal to remove the cap on bankers’ bonuses is an odd political fight to pick. Inflation at 9.9% is tearing chunks out of the real-terms pay packets of the vast majority of the population who never get a sniff of a bonus, even in good times.

Company 97

Company Industry Retail 97

BankInovation

SEPTEMBER 16, 2022

Truist Financial today launched its artificial intelligence (AI)-enhanced virtual assistant Truist Assist, which introduces a self-service element to the bank’s customer experience offerings. The virtual assistant leverages natural language processing and natural language understanding that helps answer client questions in a digital channel, Sherry Graziano, head of digital banking and contact centers at Truist, told […].

Customer Experience 98

Customer Experience Digital Banking Retail 98

Advertisement

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.

Lending

TheGuardian

SEPTEMBER 16, 2022

Unite leader deplores prospect of post-Brexit deregulation drive ‘when millions are struggling’ Unions have reacted with fury to the prospect of the government scrapping a cap on bankers’ bonuses, as ministers geared up for a return to near-normal politics next week, topped by an emergency mini-budget on Friday. Kwasi Kwarteng, the chancellor, who will set out plans for tax cuts and give more details about the government’s plans to limit rising energy bills, is also considering whether to shed t

Taxes 96

Taxes Policies 96

CFPB Monitor

SEPTEMBER 16, 2022

If you’re collecting debt for nursing home care, you might want to double check who is responsible for payment. Last week, in conjunction with a field hearing , the CFPB issued a new Consumer Financial Protection Circular and an Issue Spotlight on Fair Debt Collection Practices Act (FDCPA) and Fair Credit Reporting Act (FCRA) violations in connection with nursing home debt.

Report 78

Report Resources Policies New York 78

TheGuardian

SEPTEMBER 16, 2022

Chancellor may lift EU-era restriction in hope of making UK more attractive to financial sector The focus is back on banker pay after it emerged that the chancellor, Kwasi Kwarteng, is considering scrapping the City bonus cap as part of the government’s wider pro-growth agenda. What is the bank er bonus cap? Continue reading.

Policies 87

Policies 87

CFPB Monitor

SEPTEMBER 16, 2022

The CFPB has issued its long-awaited report on buy-now-pay-later (BNPL) products. Titled “ Buy Now, Pay Later: Market trends and consumer impacts , ” the report is based on the information the CFPB received from the five providers of BNPL products to whom it issued market monitoring orders in December 2021 and comments received by the CFPB in response to its January 2022 request for public comments to inform its inquiry into BNPL.

Report 78

Report Trends Policies Data 78

Advertisement

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.

US

TheGuardian

SEPTEMBER 16, 2022

Big paydays for the financial sector could be here again as the chancellor considers abolishing the bonus cap As the chancellor, Kwasi Kwarteng , considers scrapping the bankers’ bonus cap, we look back at some of the largest City paydays of recent decades. 2006: Royal Bank of Scotland’s Fred Goodwin is paid £4m Continue reading.

Groups 79

Groups 79

The Paypers

SEPTEMBER 16, 2022

US-based Ripple , an enterprise blockchain and crypto solutions provider, has partnered with Travelex Bank to introduce crypto-enabled payments in Brazil.

Payments 92

Payments blockchain US 92

TheGuardian

SEPTEMBER 16, 2022

Champagne will be uncorked in Canary Wharf – and along with it, a clear them-and-us narrative The timing is, to say the least, curious. Britain is facing its biggest cost of living crisis in decades. Workers are angry about crashing living standards. And yet one of the first things on the new government’s agenda is to scrap the cap on bankers’ bonuses.

US 75

US 75

The Paypers

SEPTEMBER 16, 2022

Financial messaging network SWIFT has announced it is trialling an enterprise blockchain platform to make corporate action workflows more efficient.

blockchain 69

blockchain 69

Advertisement

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.

Compliance

Alex Jimenez

SEPTEMBER 16, 2022

In general, opening a new digital deposit account should be a simple process. From a holistic point of view, the process should include: Step by step instructions with details of what’s required before starting the application; progress meter; minimal data entry and pre-fill whenever possible to minimize cognitive load. Identity verification – human questions and biometrics that catch the “bad actors” while letting the customer that wants to bank with you through.

Cards 52

Cards Data Technology Digital Banking 52

The Paypers

SEPTEMBER 16, 2022

The Central Bank of Argentina has issued a new set of rules for operators of digital wallets, adding protections like those offered by banks.

Operations 69

Operations 69

Alex Jimenez

SEPTEMBER 16, 2022

Strategic plans for banks and credit unions are replete with references to their superior customer- or member-centricity. Nearly every financial institution says their competitive edge is their customer service. However, when everyone competes on the same thing – and they all claim to be the best – then the only logical conclusion is the vast majority are clearly wrong.

Strategy 52

Strategy 52

Bussman Advisory

SEPTEMBER 16, 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: Goldman’s Apple Card faces mounting credit losses JP Morgan acquires payments fintech to rival Stripe and Block Starbucks integrates NFTs into rewards program.

Apple 52

Apple Fintech social media Cards 52

Advertisement

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.

Lending