CFPB may take legal action against Block
Payments Dive
FEBRUARY 23, 2024
The bureau has informed the digital payment company it’s weighing legal action related to a Cash App probe.
Fri.Feb 23, 2024
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The gold revolution comes to ATMs
ATM Marketplace
FEBRUARY 23, 2024
Gold has long remained a stable asset and today that asset is coming to ATMs.
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Capital One-Discover deal carries $1.38B termination fee
Payments Dive
FEBRUARY 23, 2024
The fee would apply if Discover chooses another buyer or if either board has a change of heart, but not if regulators block the deal.
Envestnet data and analytics revenue falls 7% YoY
BankInovation
FEBRUARY 23, 2024
Envestnet data and analytics revenue fell during its fiscal fourth quarter amid rumblings in December of a Yodlee sale. The wealthtech giant’s data and analytics revenue fell 7% year over year to $38.6 million during the quarter, according to its earnings presentation.
5 Things Lenders Need to Know About Portfolio Loans & Their Documentation
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Discover the key benefits of portfolio loans and learn how to streamline your lending process with our infographic, "5 Things Lenders Need to Know About Portfolio Loans & Their Documentation." Find out how portfolio loans can maximize borrower potential by consolidating multiple properties under a single loan, reducing paperwork, and lowering closing costs.
Google Pay app to be retired in US this year
Payments Dive
FEBRUARY 23, 2024
“To simplify the app experience, the U.S. version of the standalone Google Pay app will no longer be available,” the tech giant said in a Thursday blog post.
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Cash-strapped consumers turn to BNPL: Fed survey
Payments Dive
FEBRUARY 23, 2024
Consumers facing financial hardships turned to buy now, pay later services more last year than stable consumers, according to survey results from the Philadelphia Federal Reserve Bank.
Assisted Living Loans: Tailored Financing for Senior Care
Commercial Lending USA
FEBRUARY 23, 2024
The cost of assisted living can vary greatly depending on various factors, including location, type of care required, facilities supplied, and the individual facility.
PayPal finance exec jumps to Flywire CFO seat
Payments Dive
FEBRUARY 23, 2024
Cosmin Pitigoi’s appointment comes six months after Flywire announced its long-time finance chief would be exiting.
FinCEN proposes BSA reporting requirements for residential real estate
CFPB Monitor
FEBRUARY 23, 2024
On February 16, the Financial Crimes Enforcement Center (“FinCEN”) published a Notice of Proposed Rulemaking (“NPRM”) regarding residential real estate. The final version of the NPRM published in the Federal Register is 47 pages long. We have created a separate document which more clearly sets forth the proposed regulations themselves, at 31 C.F.R.
Top 3 Secrets to Staying Relevant with Gen Z
Speaker: Brian Muse-McKenney, Chief Revenue Officer & Matt Simester, Cards and Payments Expert
In today’s world of social media, dating apps, and remote work, businesses risk becoming irrelevant or getting "ghosted" if they fail to meet the evolving needs of Gen Z consumers. In this new webinar, Brian Muse-McKenney of Episode Six and Matt Simester of Payments Consultancy Limited will reveal key considerations banks should factor into their efforts to develop target products for the next generation of bank customers.
Standard Chartered chief’s pay jumps 22% as lender reports profit bump
TheGuardian
FEBRUARY 23, 2024
Bill Winters’ pay rises to £7.8m as bank says annual pre-tax profits rose by 19% in 2023 to £4bn • Business live – latest updates Standard Chartered has handed its chief executive his largest pay package in nearly a decade as the lender reported a jump in profits, despite bracing for up to £1bn in potential losses due to China’s property downturn. The profit bump helped push the longstanding chief executive Bill Winters’ pay up 22% to £7.8m – from £6.4m in 2022.
Jack Dorsey's plan to reshape Square
American Banker
FEBRUARY 23, 2024
After his aggressive cost-cutting raised profits above analysts' expectations, Block's CEO aims to retool several features of Square and Cash App to enable them to operate like a "social bank.
South African mobile operators combat fraud with GSMA initiative
The Paypers
FEBRUARY 23, 2024
Telecommunications operators Cell C , MTN , and Telkom have welcomed the launch of two universal APIs available in South Arica that combat fraud and digital identity theft.
Cap One could dodge law requiring added processing capacity
BankInovation
FEBRUARY 23, 2024
Capital One could be excluded from the proposed Credit Card Competition Act of 2023 if its acquisition of Discover Financial Services goes through and the bank creates an in-house processor. Read more on the Capital One, Discover deal The proposed act, introduced in June 2023 by U.S. Sen.
Breaking New Ground: Managing Innovation Fatigue With Effective Automation
Speaker: Gary Dmitriev
Our upcoming webinar aims to demystify the process of selecting and implementing automation tools for financial institutes. This session will provide your roadmap for vetting potential solutions, focusing on due diligence, vendor assessments, and aligning technology with strategic goals. We’ll also address the critical issue of innovation fatigue, offering tips on maintaining enthusiasm and momentum for new initiatives.
Lloyds to face AML controls investigation
The Paypers
FEBRUARY 23, 2024
The Financial Conduct Authority (FCA) of the UK has initiated an investigation into Lloyds Banking Group ’s Anti-Money Laundering (AML) controls.
It's time to revamp the call report's archaic handling of CRE loans
American Banker
FEBRUARY 23, 2024
The quarterly filings ought to include far more detailed breakdowns of banks' commercial real estate loan portfolios, including the crucial distinction between owner-occupied properties and rentals.
Ripple partners with Commercial International Bank (CIB)
The Paypers
FEBRUARY 23, 2024
Egypt-based Commercial International Bank has partnered with Ripple to implement blockchain technology aiming to enhance the efficiency of cross-border payments.
Deepening downturn in U.S. agriculture economy red flag for banks
American Banker
FEBRUARY 23, 2024
The USDA forecasted farm profits will plunge 26% this year, potentially creating credit quality challenges for lenders.
Case Study: First Mid Bank Fast-Tracks New Market Entry in Commercial Lending
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Discover First Mid Bank's Expansion Success with Our Case Study! Discover how First Mid Bank & Trust fast-tracked market expansion through advanced automation and compliance solutions. This case study reveals their journey from facing challenges in Texas' complex legal landscape to achieving rapid market entry with GoDocs' innovative commercial closing platform.
Google Pay to launch SoundPod in India
The Paypers
FEBRUARY 23, 2024
Google has announced its plans to launch the SoundPod, its portable speaker developed to validate and announce successful payments instantly, to SMEs across India.
Tenn. bank is latest to be penalized over banking as a service
American Banker
FEBRUARY 23, 2024
An FDIC enforcement action against Lineage Bank is part of a wave of cases involving banks that have partnered with fintechs in recent years.
Zum Rails secures USD 7.78 mln Series A funding round
The Paypers
FEBRUARY 23, 2024
Canada-based payments gateway Zum Rails has raised USD 7.78 million to expand its all-in-one payments gateway, including new Banking-as-a-Service offerings.
The DOJ doubles down on AI, HTLF's CEO announces retirement
American Banker
FEBRUARY 23, 2024
The Department of Justice appoints Jonathan Mayer as its first chief AI officer, HTLF's CEO Bruce Lee plans to retire, Wilmington Trust's Doris Meister will step down in May, and more in the weekly banking news roundup.
Exploring the Liability Shift: A Comprehensive Guide to Fraud Loss Responsibility and Mitigation
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Shifting liability for digital fraud losses represents a significant challenge for financial institutions and payment service providers. In response to the global surge in digital fraud, regulators are introducing policies that transfer the cost of fraud from defrauded customers to financial institutions. ThreatMark’s newly released white paper, "The Liability Shift: Understanding Fraud Losses Responsibility and Mitigation," provides an in-depth analysis of this shift, its implications, and stra
Prove Identity partners with TargetData
The Paypers
FEBRUARY 23, 2024
Prove Identity has announced its partnership with TargetData in order to continue its expansion in Brazil and provide customers with its suite of solutions.
Green Dot partners with Dayforce
The Paypers
FEBRUARY 23, 2024
US-based digital bank and fintech Green Dot Corporation has announced its collaboration with Dayforce , serving as the banking provider for the Dayforce Wallet.
Griffin launches Foundations, an embedded banking programme
The Paypers
FEBRUARY 23, 2024
UK-based API-first bank Griffin has launched Foundations, a programme for UK companies to integrate financial products with BaaS solutions.
Rawcaster partners with iDenfy
The Paypers
FEBRUARY 23, 2024
iDenfy has announced collaborating with Rawcaster , a social media platform designed for influencers and their fans, aiming to increase influencer security.
Thinking About How To Lessen Your Burden During Month-End Close? Skystem Can Help!
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Most people dread the nearing of the month-end close and reconciliation process, and who can blame them? It's typically a tedious, long, stressful process; but it doesn't have to be. Implementing automation into your month-end process can significantly reduce this headache by automating up to 40% of your reconciliation and saving nearly 30% of your time spent.
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