Tue.Jan 24, 2023

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Embedded Finance: Bolstering Brand Experiences

Perficient

In the first blog in this series, Getting Started On Embedded Finance , we defined embedded finance and took a high-level look at the goals and strategy a firm should take at the outset of its modern embedded finance journey. In this blog, we will look at how a non-banking company can offer bank-like perks to its clients and workers. When a non-financial firm offers embedded banking, they offer a branded checking account to hold funds and make payments for the betterment of the company and it

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Big banks to launch digital wallet operated by Zelle parent: report

Payments Dive

The wallet, which is expected to launch in the second half of the year, aims to compete with PayPal and Apple, sources told The Wall Street Journal. But serious competition may take a while, an analyst said.

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Celebrities call on UK banks to stop financing new oil, gas and coal fields

TheGuardian

Stephen Fry, Emma Thompson and Mark Rylance add their voices to Richard Curtis’s Make My Money Matter campaign A raft of famous names including Stephen Fry, Emma Thompson and Mark Rylance have joined activists and businesses in calling on the UK’s big five banks to stop financing new oil, gas and coal expansion. Make My Money Matter , a campaign set up by Richard Curtis , the screenwriter, director and Comic Relief co-founder, has written to the chief executives of HSBC, Barclays, Santander, Nat

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Stripe, Amazon ‘deepening’ their tie

Payments Dive

Stripe has become “a strategic payments partner” in the U.S., Europe, and Canada for mega retailer Amazon under a renewed agreement.

Retail 396
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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 trade groups seek more time to comment on FDIC proposed signage and advertising rule

CFPB Monitor

In a letter sent earlier this month, the Bank Policy Institute, the American Bankers Association and the Independent Community Bankers of America (the “trade groups”) have asked the FDIC for more time to comment on the agency’s proposal , published in the Federal Register on December 21, 2022, to update its existing regulations governing use and misuse of the FDIC’s name, logo and official sign, and adding further detail to rules regarding misrepresentation of insured status.

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Tenth Circuit dismisses FDCPA claim for lack of standing where third party mail vendor sent collection letters

CFPB Monitor

The U.S. Court of Appeals for the Tenth Circuit recently joined the Eleventh Circuit (and a growing majority of courts) in rejecting the “ Hunstein theory” of liability under the Fair Debt Collection Practices Act (FDCPA). In Shields v. Professional Bureau of Collections of Maryland, Inc. , the Tenth Circuit affirmed a lower court’s dismissal of FDCPA claims for lack of standing, confirming that a debt collector’s use of an outside mail vendor does not constitute an actionable, concrete injury.

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Bluefin, Visa pursue network tokenization

Payments Dive

Bluefin is entering a partnership with card network giant Visa as worldwide payment fraud is predicted to rise in the coming years.

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Asialink partners with Lazada, Shopee to boost payments network

The Paypers

Philippines-based finance company Asialink has teamed with ecommerce platforms Lazada and Shopee to offer an easier way for clients to pay their loans, according to a recent statement.

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Gemini cut another 10% of staff: report

Payments Dive

The crypto exchange has been affected by Genesis' bankruptcy and the FTX contagion.

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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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SEBA Bank introduces new crypto offering

The Paypers

Switzerland-based SEBA Bank , a FINMA-regulated, licensed digital assets bank, has announced the launch of a new crypto banking offer for its clients.

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Bank of America, Citi, Credit Suisse and JPMorgan launch loan platform

BankInovation

Bank of America, Citi, Credit Suisse and JPMorgan have launched a syndicated loan platform solution that captures bank data in real time. The new platform, Versana, aggregates and normalizes data from member banks to create straight-through processing in the $5 trillion syndicated loan market, Versana Chief Executive Cynthia Sachs told Bank Automation News.

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UK Credit Cards: More Consumers Missing Second, Third Payments

FICO

Home Blog FICO UK Credit Cards: More Consumers Missing Second, Third Payments FICO's monthly report on UK credit cards shows some financial resilience on the part of consumers, but a trend toward payment slippage Darcy Sullivan Tue, 11/10/2020 - 12:17 by Liz Ruddick Principal Consultant expand_less Back To Top Tue, 01/24/2023 - 20:35 How was spending on UK credit cards in the run-up to Christmas — and what does it say about consumers' financial health?

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Listen: How banks can use ChatGPT to improve financial literacy

BankInovation

Banks are looking to use AI to improve their financial literacy following Microsoft's $10 billion investment in OpenAI and their ChatGPT technology.

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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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Stripe, Amazon expand partnership to boost ecommerce

The Paypers

Amazon and global payments processor Stripe have signed an agreement to expand their partnership to broaden the former’s use of Stripe's core payments platform.

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Peru’s banking system to grow says finance minister

The Banker

The banking industry in Peru is nascent but stands to benefit from planned government measures, explains Alex Contreras, minister of economy and finance. Barbara Pianese reports.

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Indonesian ecommerce platform Blibli hires Vesta for payments security

The Paypers

US-based transaction guarantee platform Vesta has announced its partnership with Blibli , an Indonesian omnichannel commerce and lifestyle ecosystems, to increase approval rates through its payment guarantee product.

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Popular Bank agrees to $2.3 million PPP loan fraud penalty

American Banker

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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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Walmart to launch Walmart Business with timesaving tools

The Paypers

US-based multinational retail corporation Walmart has recently announced the launch of Walmart Business, an ecommerce site and customer experience aimed to help SMEs and non-profit customers.

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9% of P2P users have been hit by a scam: Consumer Reports

American Banker

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Discover Global Network launches international transit solution

The Paypers

Global provider of credit cards, online banking services, and personal loans, Discover , through its in-house payment brand Discover Global Network has launched Tap-to-Ppay solutions internationally.

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Community bank rethinks C-suite tech roles on cusp of merger

American Banker

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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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BNY Mellon partners Fiserv to expand real-time FX rate quotes

The Paypers

BNY Mellon has partnered with B2B financial marketplace Fiserv to expand real-time FX rate quotes for payments from US financial institutions.

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California's AG defends small-business disclosure law opposed by merchant cash advance lenders

American Banker

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Trustly, Nordnet partner to enable pay-ins for retailer investors

The Paypers

Global payments platform for digital A2A transactions, Trustly , has announced a new strategic partnership with Sweden-based platform for savings and investments, Nordnet.

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Los Angeles Police Federal Credit Union hires new CEO

American Banker

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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.