PayPal counts on its digital app for gains
Payments Dive
NOVEMBER 28, 2022
The digital payments pioneer is scouting for new ways to increase customer use of its digital wallet, including plans to add a new Venmo teen account.
Mon.Nov 28, 2022
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CFPB seeks input on development of new auto market data set
CFPB Monitor
NOVEMBER 28, 2022
On November 17, 2022, the Consumer Financial Protection Bureau (“CFPB”) announced in a blog post that it is in seeking to build a new data set that “will allow for a more robust understanding of market trends” in the auto market. According to the CFPB, over 100 million Americans have an auto loan, and auto loan balances (currently estimated at $1.5 trillion nationally) are on pace to surpass student loans as the second-largest debt category in 2023.
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Trending Sources
NJ official: No reason to doubt Fiserv job growth plan
Payments Dive
NOVEMBER 28, 2022
Fiserv “has given us no indication that (the company has) any change of plans in New Jersey,” said Tim Sullivan, CEO of the state’s Economic Development Authority.
Wells Fargo launches automated same-day loans
BankInovation
NOVEMBER 28, 2022
Wells Fargo is launching a digital-only product that runs on microservices to provide small, same-day loans to clients. The $1.8 trillion bank’s Flex Loan product has been in development since January and was integrated across multiple systems in real time using an API, Abeer Bhatia, CEO of retail financial services and personal lending at San […].
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
Banks discuss refund rule for customers defrauded on Zelle: report
Payments Dive
NOVEMBER 28, 2022
Under measures being discussed, banks would share liability inside Zelle’s system and guarantee to reimburse one another, sources told The Wall Street Journal.
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Winners, losers on Black Friday
Payments Dive
NOVEMBER 28, 2022
With inflation looming, consumers yearned for deals and sought financing options, such as buy now-pay later installment payments.
Ninth Circuit to decide for whom the bellwether tolls in test of Verizon’s mass arbitration provision
CFPB Monitor
NOVEMBER 28, 2022
An appeal pending in the U.S. Court of Appeals for the Ninth Circuit is poised to decide whether an arbitration agreement that requires mass arbitration disputes to be resolved by multiple rounds of bellwether arbitrations lawfully facilitates a quicker and more efficient resolution of the disputes than would be achieved by pursuing thousands of individual arbitrations—as appellant Verizon Wireless, Inc. contends—or whether it is substantively unconscionable because it effectively eliminates the
Rethinking payments and expenses to adapt to remote-work realities
Payments Dive
NOVEMBER 28, 2022
The work of reimbursing employees slows down the pace of business for organizations.
FCC rules ringless voicemails are subject to TCPA robocall prohibition
CFPB Monitor
NOVEMBER 28, 2022
The Federal Communications Commission ruled this month that “ringless voicemail” to wireless phones is a “call” made using an artificial or prerecorded voice and therefore subject to the Telephone Consumer Protection Act robocall prohibition. The TCPA prohibits making any non-emergency call using an automatic telephone dialing system or an artificial or prerecorded voice to a wireless telephone number without the prior express consent of the called party.
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
UK and Singapore sign fintech agreement
The Paypers
NOVEMBER 28, 2022
The Government of the UK and the Monetary Authority of Singapore (MAS) have signed a cross-country memorandum of understanding (MoU), deepening collaboration in fintech, and strengthening their financial cooperation.
SCOTUS grants CFSA extension to file opposition to CFPB’s certiorari petition seeking review of Fifth Circuit ruling that CFPB’s funding is unconstitutional; CFSA opposes SCOTUS hearing case this Term if certiorari is granted
CFPB Monitor
NOVEMBER 28, 2022
Last week, the U.S. Supreme Court granted the unopposed request of the Community Financial Services Association for a 30-day extension until January 13, 2023 to file its brief in opposition to the CFPB’s certiorari petition seeking review of the Fifth Circuit panel decision in Community Financial Services Association of America Ltd. v. CFPB. In that decision, the panel held the CFPB’s funding mechanism violates the Appropriations Clause of the U.S.
PacWest and others enact exec succession plans
Banking Exchange
NOVEMBER 28, 2022
Executives at Heartland Bank, TowneBank, BOK Financial, KeyCorp and others announce senior retirements and replacements Management Human Resources Feature CSuite Feature3.
Failure to name firms receiving Covid loans hurts trust in UK, BBB tribunal told
TheGuardian
NOVEMBER 28, 2022
‘Woefully inadequate’ due diligence controls to deter fraud cited in challenge to British Business Bank The failure to name which companies received state-backed loans totalling £80bn during the Covid pandemic has put the UK’s reputation as a trusted place to do business at risk, a tribunal has heard. The warnings by anti-corruption campaigners and a leading fraud expert were made on the first day of a three-day tribunal challenging the state-owned British Business Bank (BBB) and the information
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.
Nuvei to be a Virgin Atlantic payment partner
The Paypers
NOVEMBER 28, 2022
Canada-based fintech company Nuvei has announced that it has partnered with UK-based airline Virgin Atlantic to enable a better payment experience for its customers.
By the numbers: Cyberattacks putting bank data at risk jump 92%
BankInovation
NOVEMBER 28, 2022
Cybersecurity threats that place bank information and personal data at risk are on the rise as the holiday shopping season officially kicks off with Black Friday and Cyber Monday. Cybercriminals are targeting online shoppers by scraping sites for credit card and banking data, according to a recent report by cybersecurity firm Kaspersky, which monitored cyberthreat-related […].
Brazilian credit fintechs allowed to initiate payment transactions
The Paypers
NOVEMBER 28, 2022
Brazil's National Monetary Council has allowed credit fintechs to initiate payment transactions, clearing them to provide payment services to consumers.
Four ways to attract (and keep) top tech talent
BankInovation
NOVEMBER 28, 2022
Perhaps the Nasdaq’s doldrums will turn the attention of the nation’s top IT talent from tech to a banking industry in dire need of their services. Perhaps, but don’t bet the company on it. In a banking business rolling out steady streams of innovative, technology-dependent products amid a massive cloud transformation, that’s what you’d be […].
Register Now: Sneak Peek Into Close Automation SkyStem Web Demo
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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.
Meta launches a new Metaverse experience in Africa
The Paypers
NOVEMBER 28, 2022
US-based Meta has launched its first Metaverse experience in Africa to help Nigerian creators explore new ways to connect with their communities.
Blogs | Commercial Lending USA
Commercial Lending USA
NOVEMBER 28, 2022
Get the latest blogs about the the commercial & business laons exclusively from Commercial Lending USA. Get all the information & guides about the different loan process.
GlobeTopper forms global payment partnership with Knox Wire
The Paypers
NOVEMBER 28, 2022
US-based gift card company GlobeTopper has partnered with Knox Wire to support payout capabilities globally.
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.
Kuwait news: Open Banking and SWIFT transfers
The Paypers
NOVEMBER 28, 2022
Recently, the Central Bank of Kuwait has requested banks to update their plans for the implementation of the Open Banking Services project, according to Al-Rai.
BMO inks community agreement as it seeks to close Bank of the West deal
American Banker
NOVEMBER 28, 2022
Amazon halts wholesale distribution in India
The Paypers
NOVEMBER 28, 2022
Amazon has announced the halt of its wholesale distribution business in India, Amazon Distribution, marking the latest in a series of retreats for the retailer in the market.
Regulation must keep pace with financial innovations, New York Fed chief says
American Banker
NOVEMBER 28, 2022
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.
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