Visa CEO bashes surcharges
Payments Dive
JULY 26, 2023
“It’s not a great customer experience,” Visa CEO Ryan McInerney said of merchant surcharges, while speaking on an earnings webcast Tuesday.
Payments Dive
JULY 26, 2023
“It’s not a great customer experience,” Visa CEO Ryan McInerney said of merchant surcharges, while speaking on an earnings webcast Tuesday.
South State Correspondent
JULY 26, 2023
The bigger risk to community banks’ business model is not a moderate recession induced by aggressive interest rate increases by the Federal Reserve. Instead, the more painful scenario for the banking industry is the following: no recession, short-term interest rates holding steady in anticipation of inflation reaching target rates, and a prolonged inverted yield curve.
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Payments Dive
JULY 26, 2023
Mastercard teamed with Billtrust to begin offering the new tool, which will automate the process of sending and accepting virtual cards for business-to-business payments.
Commercial Lending USA
JULY 26, 2023
Starting a new business is exhilarating. That requires dedication, vision, and, most importantly, enough financial support. But securing funding for a startup with no revenue can be a significant challenge. Traditional lenders often rely on revenue history to assess creditworthiness. Leaving many entrepreneurs feeling stuck. But fear not! In this comprehensive guide.
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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
Payments Dive
JULY 26, 2023
In an expansion of a prior tie, software colossus Microsoft will increase the ways customers can use PayPal tools to purchase goods and services.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
BankBazaar
JULY 26, 2023
BankBazaar posted a 51% YOY increase in revenue in Q1-FY24, driven by its portfolio of co-branded Credit Cards and P ersonal L oans , closing FY23 with audited revenue of ₹159 crore (66% revenue growth from FY22). Read on for more. BankBazaar.com , India’s largest fintech co-branded credit card platform and online platform for free credit score, posted a 51% YOY increase in revenue in Q1-FY24, driven by its portfolio of co-branded Credit Cards and Personal Loans.
CFPB Monitor
JULY 26, 2023
45 amicus briefs have been filed with the U.S. Supreme Court in support of the petitioners in Loper Bright Enterprises, et al. v. Raimondo. The petitioners are urging the Court to overrule its 1984 decision in Chevron, U.S.A., Inc. v. Nat. Res. Def. Council, Inc. That decision produced what became known as the “ Chevron framework”–the two-step analysis that courts typically invoke when reviewing a federal agency’s interpretation of a statute. .
TheGuardian
JULY 26, 2023
Prime minister to give evidence to inquiry into scandal of infected blood given to patients between 1970 and 1991 Q: What is your view on the government’s decision to put a barge for asylum seekers in Portland? It could deter tourists from visiting the town. Will you stop this, as they did in London? Starmer says he understands the concerns raised by the caller.
American Banker
JULY 26, 2023
American Banker is proud to recognize, in its third annual Most Influential Women in Payments, Next, the women under 40 who have demonstrated expertise, leadership skills and an ability to adapt in an ever-changing payments industry.
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Automation generally supercharges any process and brings its value to the forefront. See how infusing automation such as ART (our month-end close solution), into your close can get you to the next level of closing. We will share a live demo of SkyStem's solution, ART and share the key elements of month-end close automation. Through ART, we'll take a look at: What month-end close automation entails Which process steps can and should be automated Benefits of achieving process automation, and Why i
TheGuardian
JULY 26, 2023
Live coverage of business, economics and financial markets as UK bank replaces leader following late night board meeting This is why bank shares have dragged down the FTSE 100 in early trades this morning: a slump in profits at the UK’s biggest high street bank. Profits for Lloyds Banking Group tumbled 29% in the three months to June, as it prepared for an increase in customers falling behind on costly loan and mortgage payments because of rising interest rates.
American Banker
JULY 26, 2023
As we recognize National Disability Independence Day, it is a moral and ethical obligation to ensure that financial institutions remove barriers that hinder the financial independence of individuals with disabilities.
TheGuardian
JULY 26, 2023
Why have Tories and an embattled PM fought this so fiercely? Because the ex-Ukip leader embodies leave, and they fear him So the Mediterranean is on fire, the Ukraine war not going well, the health service on its knees and the economy still at risk of recession. Pretty obviously, therefore, the most pressing question facing Britain today is whether Nigel Farage can keep an account with one of this country’s poshest banks – which is making profits at the high end of a sector that has looked the o
American Banker
JULY 26, 2023
The regional bank said metropolitan economies across its central and western U.S. footprint are resilient, and new loan opportunities are abundant. Trepidation among competitors, too, is creating openings for the Oklahoma bank, its CEO says in an interview.
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Dive into the complexities of New York lien laws with our comprehensive eBook, 'New York Lien Law Essentials: 5 Key Facts for Commercial Lenders.' In this detailed guide, we explore the critical formalities necessary for lenders navigating ground-up construction and fix-and-flip projects in the New York market. From documentation requirements to the implications of non-compliance, learn how to safeguard your lending position and prioritize legal adherence.
TheGuardian
JULY 26, 2023
Private bank offers exclusive services to its wealthy clients, who include Emma Watson and Stormzy NatWest boss resigns over Nigel Farage Coutts accounts row Coutts isn’t just any old bank, its chief executive, Peter Flavel, has been keen to tell anyone who asks. If you’re rich enough to have an account – customers need to hold at least £3m in savings or borrow or invest at least £1m – the bank promises to provide not just a dedicated bank manager but also a concierge, or “lifestyle manager” , t
American Banker
JULY 26, 2023
CEO Ryan McInerney touted the growth of Visa Direct and unveiled a fraud-scoring service called RTP Prevent, which is powered by artificial intelligence, while discussing the card network's earnings for its fiscal third quarter.
TheGuardian
JULY 26, 2023
This is a rich person’s row. But as a debt adviser, I’ve seen clients’ lives upended when they are denied access to basic accounts Despite all the recent front-page attention given to Nigel Farage and today’s development – the resignation of NatWest chief executive Alison Rose – there is something else you should know: banks have been quietly closing accounts without giving their customers any reasonable explanation for decades.
American Banker
JULY 26, 2023
Travelers in China can now add Visa and Mastercard to WeChat Pay and Alipay, providing a boost for the country's tourism industry as it tries to recover from the pandemic. Additionally, British regulators may delay plans to tighten the rules for by now/pay later lenders, partly based on concerns that some of the largest lenders may depart the market.
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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.
TheGuardian
JULY 26, 2023
Concerns raised over anonymous briefings that triggered early-hours resignation of Dame Alison Rose Timeline: how the downfall of Rose over Farage and Coutts unfolded Profile: Alison Rose, the NatWest CEO who quit The prime minister and the chancellor have been accused of “damaging UK plc” and failing to follow due process amid concern over anonymous briefings that triggered the early-hours resignation of NatWest boss Dame Alison Rose.
American Banker
JULY 26, 2023
Stock markets have shot up as investors grow hopeful that the United States will avoid a recession. But nearly 3 in 4 community bankers are less optimistic that the Fed will achieve its mission of reducing inflation without causing a downturn, a survey from IntraFi found.
TheGuardian
JULY 26, 2023
The former Brexit party leader was done a disservice, but the frenzy of Tory outrage is mostly a symptom of political cowardice Not everyone can afford to bank at Coutts, an exclusive bank, nor is everyone entitled to an account there. But Nigel Farage is not just anyone. He is arguably the most influential British politician of his generation. It is questionable whether Mr Farage’s role has been to the benefit of public life, but if not, the detriment does not disqualify him from access to fina
The Paypers
JULY 26, 2023
Global financial super app Revolut has announced that it is now offering accounts to non-citizens lawfully in the US who do not have an SSN or ITIN.
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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
TheGuardian
JULY 26, 2023
Like many corporations, they make virtuous statements, but for the most part they hide behind a cloak of ethical humbug There are no branches of Coutts in Sheffield Hallam, Mid-Bedfordshire and Swansea East. In fact, there are no branches of any bank in these and the 14 other parliamentary constituencies that have been at the sharp end of a mass closure programme in the past decade.
BankInovation
JULY 26, 2023
Payments and financial services technology company Fiserv is looking to expand efforts in embedded finance and cloud services to meet increased demand for digital banking products.
TheGuardian
JULY 26, 2023
Bank says profits have fallen as interest rates and cost of living are ‘challenging’ for people and firms Lloyds Banking Group has put aside more than £400m to prepare for a potential increase in customers falling behind on more costly mortgage payments. It comes amid surging interest rates, which have risen sharply since late 2021 and made payments more expensive for new owners and those rolling off existing fixed mortgages.
BankInovation
JULY 26, 2023
Banco Santander, Deutsche Bank and Lloyds Bank prioritized efficiency in the first half of the year by leaning into technology. Banco Santander continued to implement its One Transformation plan, a common operating business model, across retail and commercial banking, Chief Executive Hector Grisi said during today’s earnings call.
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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
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