August, 2023

article thumbnail

FedNow: Now what?

BankInovation

The Federal Reserve launched its much-awaited FedNow real-time payments channel on July 20, and experts say it can be revolutionary for the payments industry.

article thumbnail

Why on-demand pay lures employees

Payments Dive

Employers can better compete for gig workers, and other employees, by offering instant payment of wages, one fintech president argues.

Fintech 397
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Agile and DevOps in banking today

BankInovation

In the rapidly evolving world of banking and financial services, Agile and DevOps methodologies have emerged as essential tools to drive innovation and stay ahead of the competition.

article thumbnail

Consumer spending rose 4% in July: Fiserv

Payments Dive

The retail sector drove overall card spending growth, but average ticket sizes have dipped due to declining inflation, Fiserv said in its latest consumer spending report.

Cards 370
article thumbnail

8 Signs Your Accounting Team Is Ready to Automate Month-End Close

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

How do you know if your accounting team is ready to automate the month-end close? Join us in this informative webinar, where we share the top 8 signs that indicate that a team has outgrown all existing tools and may be ready to embark upon month-end close automation. We will examine the process clues that help determine whether your team would be a good candidate for automation.

article thumbnail

Ready or not, IoT is transforming your world

Dataconomy

Predicting the future of IoT doesn’t require a crystal ball; it demands an understanding of the transformative forces that are reshaping our world. The Internet of Things (IoT), a revolutionary network of interconnected devices and systems, is propelling us into a new era of possibilities. As we stand on the cusp of this technological evolution, it’s evident that the future of IoT holds immense potential to revolutionize industries, redefine business models, and enhance the very fabr

More Trending

article thumbnail

Ultimate 5-Step Guide to Transitioning from Google Optimize

Perficient

Ready for your Google Optimize sunset replacement? Strategies for Seamless Migration and Accelerated Experimentation Growth The upcoming Google Optimize sunset has made it crucial for businesses to find reliable replacements. In today’s data-driven environment, the functionality of data experimentation tools is paramount. Relying on A/B testing tools for measuring and enhancing website optimization is key to increasing user satisfaction and conversion rates.

Google 419
article thumbnail

Trade associations urge CFPB to pause effective date and tiered compliance dates of small business lending rule

CFPB Monitor

A group of trade associations has sent a letter to CFPB Director Chopra urging the CFPB to address the disparity that has resulted from the order entered by the Texas federal district court in the lawsuit challenging the CFPB’s small business lending rule that granted preliminary injunctive relief only to the plaintiffs and their members. .

Lending 165
article thumbnail

The Banking Crisis of 2023 is Over — Time to Get Back to the Crisis of the ’20s

Gonzobanker

This decade-long crisis touches banks’ products, technologies, people, processes and the political climate. In an article titled Is the Banking Crisis Over? We Are About to Find Out , the Wall Street Journal identified three concerns that could determine if the banking industry is out of the crisis or still in one: Deposit costs. High interest rates have forced many banks to pay more to retain deposits (often via brokered deposits), while many institutions have seen deposits flee to higher-yield

article thumbnail

Google joins Open Wallet Foundation

Payments Dive

"We look forward to working closely with other OWF members to advocate for solutions that ensure we’re building a privacy-forward wallet for everyone,” Google Wallet Vice President Jenny Cheng said.

Google 435
article thumbnail

Transforming Lending: Understanding the Power of Digital Platforms

Digital platforms can provide you with plenty of solutions, yet many are still intimidated by them. It's time to end that worry and embrace what could make a major difference for your bank. Understanding how they work and how to best utilize them for your banks is key toward success. In this article, Biz2X breaks down all things digital platforms, including the many advantages of embracing them.

article thumbnail

BMO, Bank of the West conversion update

BankInovation

BMO Financial Group shared its long-term savings plans and provided an update on its integration of Bank of the West during its third-quarter earnings call Tuesday.

Groups 113
article thumbnail

Leveraged and inverse ETFs – the exotic side of exchange-traded funds

BankUnderground

Julian Oakland Exchange-traded funds (ETFs) are supposed to be simple and straightforward, and for the most part they are, but one group punches well above its weight when it comes to market impact. In this post, I show that leveraged and inverse (L&I) ETFs generate rebalancing flows that: (1) are always in the same direction of the underlying market move; (2) grow significantly with both increasing and inverse leverage ; and (3) must be transacted towards the end of the trading day.

Oakland 99
article thumbnail

Perficient Named in Forrester’s Digital Transformation Services Landscape, Q3 2023

Perficient

In today’s rapidly advancing technology landscape, businesses face a profound revolution in operations, customer interactions, and innovative endeavors. Partnering with the right digital transformation service provider is vital to thrive in this digital age. A proven track record of guiding businesses through digital complexities is crucial for unlocking their full potential, driving efficiency, and ensuring exceptional customer experiences, leading to long-term success.

article thumbnail

DOJ proposal to increase accessibility of government websites and mobile apps could guide accessibility for places of public accommodation

CFPB Monitor

On August 4, 2023, the U.S. Department of Justice (“DOJ”) released its highly anticipated proposed changes to the regulations implementing Title II of the Americans with Disabilities Act (“ADA”). Title II prohibits state and local governments from discriminating against individuals with disabilities. The regulations aim to increase accessibility of websites and mobile applications by clarifying how these public entities can meet their ADA obligations on a technical level. .

Mobile 147
article thumbnail

6 Alternative Lending Strategies for a Shifting Landscape

In the ever-evolving commercial lending landscape, adaptability is key to survival and growth. As lenders navigate the challenges and opportunities presented by the state of the market, alternative lending strategies have emerged as powerful tools for success. We will explore six strategies with the potential to transform lenders’ business. Understanding alternative lending strategies is crucial.

article thumbnail

The Hybrid Workplace is One Huge Work-In-Process for Banks

Gonzobanker

It’s time for bank leaders to intentionally design a hybrid workplace that recognizes the new reality. As bank executives navigate rising rates, margin compression and recession risk in 2023, a striking reality has seeped into leadership meetings: the hybrid workplace is here to stay, and there’s a ton of strategic ramifications to this new aspect of the business.

article thumbnail

Discover finds tech upskilling model in Chicago hub

Payments Dive

The card issuer looks at the Chatham call center and technology hub as a model for site selections, hiring procedures, customer service experience and community development.

Chicago 370
article thumbnail

Transactions: BMO, Mastercard, Extend launch mobile wallet for virtual cards

BankInovation

On Monday, BMO, with Mastercard and digital card fintech Extend, rolled out a mobile wallet for virtual cards for its commercial banking clients in the U.S. and Canada to leverage, according to a BMO release.

Cards 103
article thumbnail

PayPal’s new CEO faces these 3 big challenges | Meta, OpenAI &Anthropic A.I. models all make stuff up | Sotheby’s sued over Bored Ape NFT sales

Bussman Advisory

Join our community of 50,000+ subscribers and stay informed on the latest trends and news in the FinTech & AI world with the weekly newsletter provided by Bussmann Advisory. Gain insights into disruptive technologies, industry updates, and success stories from our portfolio companies. This week’s must-know stories: PayPal’s new CEO faces these 3 big challenges Meta, OpenAI, Anthropic and Cohere A.I. models all make stuff up Sotheby’s sued over Bored Ape NFT sales Plus, 9 mo

Fintech 98
article thumbnail

Addressing Top Enterprise Challenges in Generative AI with DataRobot

The buzz around generative AI shows no sign of abating in the foreseeable future. Enterprise interest in the technology is high, and the market is expected to gain momentum as organizations move from prototypes to actual project deployments. Ultimately, the market will demand an extensive ecosystem, and tools will need to streamline data and model utilization and management across multiple environments.

article thumbnail

BMO, Mastercard bring virtual cards into the physical world

American Banker

The card network is working with the Bank of Montreal and the fintech Extend to enable businesses to approve and track in-store payments via employees' own digital wallets.

Cards 96
article thumbnail

Nebraska enacts new licensing requirement for small dollar loans

CFPB Monitor

Nebraska Governor, Jim Pillen, signed into law Legislative Bill 92 on June 6, 2023, which amended the Nebraska Installment Loan Act (the “Act”) effective June 7, 2023 (the “Effective Date”). As amended, the licensing requirement under the Act includes “any person that is not a financial institution who, at or after the time a loan [of $25,000 or less with rates exceeding the Nebraska general usury limit] is made by a financial institution, markets, owns in whole or in part, holds, acquires, ser

Nebraska 148
article thumbnail

Meet Aleph Alpha, the European ChatGPT killer

Dataconomy

Europe has stepped onto the AI stage of innovation with its visionary project, Aleph Alpha. Drawing inspiration from the trailblazing accomplishments of OpenAI, Aleph Alpha is poised to carve a distinctive path for Europe in the ever-evolving landscape of artificial intelligence. With this ingenious endeavor, Europe envisions becoming a global powerhouse of AI innovation, mirroring the success stories of OpenAI and its counterparts around the world.

Meeting 85
article thumbnail

PayPal names Intuit exec as CEO

Payments Dive

Long-time Intuit executive Alex Chriss will lead the digital payments pioneer and join its board, as Dan Schulman steps down and plans to leave the board next year.

Payments 370
article thumbnail

Need Curated Pre-foreclosure Lists to Generate New Real Estate Leads? Trellis Has the Data!

Trellis is a state trial court research and analytics platform that provides Real Estate Professionals (Buyers, Foreclosure, Loan Modification, etc.) with LEADS on Pre-Foreclosures, Lis Pendes, Distressed Assets and more — to help uncover **new** opportunities and grow their business. The process is quick and easy — and all in real time. Trellis will supply you with a link to the relevant dockets, a Leads sheet and access to its UI where applicable.

article thumbnail

Barclays head of markets digital strategy joins Bank Automation News webinar

BankInovation

Barclays Head of Markets Digital Strategy Jennifer Warren will join the Bank Automation News webinar Global Ideas for Better Banking AI on Thursday, Sept. 14, at 11 a.m. ET. With more than 20 years of experience in financial markets, Warren specializes in spearheading step-change business growth and innovation strategies.

article thumbnail

FedNow Turns Instant Payments into a Must-Have for Banks and Credit Unions

The Financial Brand

This article FedNow Turns Instant Payments into a Must-Have for Banks and Credit Unions appeared first on The Financial Brand. The Federal Reserve already has plans to roll out new features for its instant payments service, a rival to the RTP network. This article FedNow Turns Instant Payments into a Must-Have for Banks and Credit Unions appeared first on The Financial Brand.

article thumbnail

Average overdraft price hits 19-year low: Survey

American Banker

Bank customers who overdraw their accounts now face an average fee of $26.61, which is down from a peak of $33.58 in 2021. Consumer advocates contend that tougher regulations are needed to sustain the momentum, while industry groups argue that bank-led innovations are working.

Survey 90
article thumbnail

U.S. Bank and Elavon launch enhanced talech software

The Paypers

Elavon , a wholly owned subsidiary of U.S. Bank, has launched the next generation of talech software aiming to help small business owners run their businesses efficiently.

article thumbnail

How to Stay Competitive in the Evolving State of Martech

Marketing technology is essential for B2B marketers to stay competitive in a rapidly changing digital landscape — and with 53% of marketers experiencing legacy technology issues and limitations, they’re researching innovations to expand and refine their technology stacks. To help practitioners keep up with the rapidly evolving martech landscape, this special report will discuss: How practitioners are integrating technologies and systems to encourage information-sharing between departments and pr