Payments Dive

FEBRUARY 15, 2023

The Clearing House and other payments players, including Swift, are readying for the March rollout of a international payments standard.

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Payments 514

Independent Banker

FEBRUARY 28, 2023

Photo by Chris Williams I am grateful to have had the opportunity to serve as chairman. I will continue to advocate for community banking, and for the rest of my career, stand side by side with you to fight our future battles. Serving as ICBA chairman has been one of the highest honors of my life. It’s hard to put into words how special this experience is.

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Payments Dive

FEBRUARY 17, 2023

Despite a pause in payments required for federal student loans, younger borrowers particularly are showing higher credit card delinquencies.

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Perficient

FEBRUARY 22, 2023

Perficient is looking forward to bringing our unique combination of automation technical know-how along with financial services and payments industry expertise to the Banking Automation Summit in Charlotte, North Carolina on March 2-3. The Summit brings together experts in the field, including bank executives, technology vendors, and consultants, to discuss the latest advancements in automation and its impact on the banking industry.

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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.

Lending

CFPB Monitor

FEBRUARY 27, 2023

On February 23, 2023, the CFPB announced in a blog post that it had issued orders to nine large auto lenders requesting information about their auto lending portfolios. The orders, which the CFPB says were sent to a cross-section of the auto finance market, represent the latest action taken by the Bureau in its effort to build a new data set that gives better insight into market trends. .

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TheGuardian

FEBRUARY 7, 2023

Bank sided with China in denying pension payouts to people who fled crackdown, says all-party group HSBC is complicit in human rights abuses against Hong Kong residents by siding with Chinese authorities and denying pension payouts to those who fled the authoritarian crackdown, an inquiry by peers and MPs has concluded. The report by the all-party parliamentary group (APPG) on Hong Kong took issue with the fact that banks including HSBC – which help to manage the compulsory pension fund that all

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Independent Banker

FEBRUARY 28, 2023

Derek Williams, president and CEO of Century Bank & Trust in Milledgeville, Ga., wanted to be a financier before finding his way to community banking. Photo by Harold Daniels Derek Williams, president and CEO of Century Bank & Trust in Georgia, is bringing his passion for community banking to his term as ICBA chairman for 2023/24. By Roshan McArthur Derek Williams is, he says, excited, honored and humbled to make his debut as ICBA chairman at ICBA LIVE.

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Payments Dive

FEBRUARY 23, 2023

As the Federal Reserve prepares for a mid-year launch of its instant payments system, FedNow, it’s zeroing in on anti-fraud tools to protect users.

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Perficient

FEBRUARY 2, 2023

Across industries, consumers are communicating the same demands; they see the thing, they want the thing, and they want it in their hands within hours, if possible. And if it’s not possible, they wonder why not since it usually is through Amazon. Because money is what makes the world go-’round, the payments industry has responded to this heightened sense of urgency from consumers to get ahold of merchandise, services, and funds seamlessly, immediately, and with little to no human interacti

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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.

Fintech

CFPB Monitor

FEBRUARY 22, 2023

In Circular 26-23-06 , the U.S. Department of Veterans Affairs (VA) announced reduced funding fees for purchase, construction and cash-out refinance loans guaranteed by the VA that are closed on or after April 7, 2023. The current funding fee amounts for loans closed prior to April 7, 2023, are set forth in Exhibit A to the Circular. .

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ATM Marketplace

FEBRUARY 10, 2023

With many countries examining central bank digital currencies, a question emerges: How will this impact ATMs and cash usage?

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ATM 144

TheGuardian

FEBRUARY 17, 2023

Alison Rose becomes group’s second-highest-paid boss after disgraced ex-banker Fred Goodwin The chief executive of NatWest, Alison Rose, received a £5.2m pay packet in 2022, becoming the bank’s second-highest-paid boss after the controversial ex-banker Fred Goodwin, after the lender reported its largest profit since before the 2008 financial crisis.

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Cisco

FEBRUARY 13, 2023

Episode 35 of the Cisco Optics Podcast is now posted! See below for episode notes. Cisco Optics Podcast Episode 35 Fascinating laser research projects you wish you thought of, with Juliet Gopinath.

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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.

Innovation

Payments Dive

FEBRUARY 13, 2023

The payments processor plans to spin off its merchant business, which will reclaim its Worldpay name, and appointed its former CEO, Charles Drucker, to lead the unit.

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Payments 418

ABA Community Banking

FEBRUARY 13, 2023

For Valentine's Day, the ABA Banking Journal Podcast brings you a classic bank-meets-girl-meets-boy love story. The post Podcast: A classic love story gets its start in a D.C. bank branch appeared first on ABA Banking Journal.

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CFPB Monitor

FEBRUARY 22, 2023

HUD recently announced a reduction to the annual mortgage insurance premium charged to borrowers with FHA-insured loans. HUD estimates that the reduction will save FHA borrowers on average $800 annually. HUD also released Mortgagee Letter 2023-05 addressing the premium reduction, and a Factsheet addressing other steps that HUD has taken to make homeownership more affordable. .

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FICO

FEBRUARY 27, 2023

Home Blog FICO Meet The 2023 FICO Decisions Awards Winners! 15 companies recognized for successful innovation in AI, machine learning and decision management Saxon Shirley Mon, 02/27/2023 - 08:09 by Nikhil Behl expand_less Back To Top Mon, 02/27/2023 - 08:00 2023 FICO Decisions Award Winners - Decisions That Matter It's with great enthusiasm that I reveal the victors of the 2023 FICO® Decisions Awards !

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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

Fraud

TheGuardian

FEBRUARY 15, 2023

Angry protesters attack ATMs and block roads in frustration at lack of new banknotes days before election Rioters have attacked bank ATMs and blocked roads in three Nigerian cities as anger spilled on the streets over a scarcity of cash, just days before the country’s general election. Nigeria has been struggling with a shortage in physical cash since the central bank began to swap old bills of the local naira currency for new ones, leading to a shortfall in banknotes.

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BankInovation

FEBRUARY 16, 2023

Alyson Karow, head of small business digital channels at TD Bank, will join the panel “At the Core: Strategies for Addressing Legacy Core Systems” at Bank Automation Summit U.S. 2023 on Thursday, March 2, at 2:15 p.m. ET, at the Westin Charlotte in Charlotte, N.C. View the full agenda for the Bank Automation Summit U.S.

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Payments Dive

FEBRUARY 16, 2023

Adding Delphi Display Systems’ technology helps Toast more broadly serve its quick-service restaurant customers, the company’s executives said.

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ABA Community Banking

FEBRUARY 15, 2023

During the first MDI Partnership Summit held this week in Orlando, Florida, participants from minority depository institutions and banks across the country gathered to discuss approaches to better serve the unique banking needs of communities of color and low- to moderate-income communities. The post ABA, National Bankers Association hold first MDI partnership summit appeared first on ABA Banking Journal.

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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.

How To

CFPB Monitor

FEBRUARY 27, 2023

The U.S. Supreme Court has granted the certiorari petition filed by the CFPB seeking review of the Fifth Circuit panel decision in Community Financial Services Association of America Ltd. v. CFPB. In that decision, the Fifth Circuit panel held the CFPB’s funding mechanism violates the Appropriations Clause of the U.S.

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FICO

FEBRUARY 16, 2023

Home Blog FICO FICO Named America's Best Mid-Sized Employer by Forbes Magazine FICO recognized by Forbes for the third consecutive year Saxon Shirley Thu, 05/12/2022 - 07:46 by Richard Deal expand_less Back To Top Thu, 02/16/2023 - 20:00 FICO was recently named one of America’s Best Mid-Sized Employers by Forbes Magazine for the third consecutive year — ranking in the top quintile overall and #7 in the IT, Internet, Software & Services Industry segment.

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TheGuardian

FEBRUARY 20, 2023

Rules are set to be tightened to help reimburse victims of fraudsters exploiting parents’ instinct to help their offspring The text message began: “Hi Dad!”. The sender informed pensioner Graham Price* that their phone had fallen down the toilet, so they were using a temporary number while it was repaired. Chattily, they mentioned the number change had locked them out of online banking when they had an urgent bill to settle.

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BankInovation

FEBRUARY 24, 2023

The automated clearing house payment system reaches all U.S. bank accounts and is an extremely cost-effective way to move money. This helps explain the ACH Network’s steady growth. Nacha says the ACH Network processed 7.6 billion in payments worth $19.2 trillion in the third quarter of 2022. Meanwhile, ACH same-day payments reached 176.

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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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