Feds crack down on improper payments
Payments Dive
JULY 20, 2022
A federal government report released this week takes aim at the problem of fraudulent public benefit payments, which mushroomed to $281 billion for fiscal year 2021.
Payments Dive
JULY 20, 2022
A federal government report released this week takes aim at the problem of fraudulent public benefit payments, which mushroomed to $281 billion for fiscal year 2021.
Gonzobanker
JULY 20, 2022
The lack of ownership in driving digital transformation is a huge roadblock for financial institutions. In my digital transformation work with Cornerstone Advisors clients, I often ask executives a simple question: “Who owns digital?” The most common responses are: 1) blank stare, 2) scrunched face of contemplation, and 3) “a lot of different people.
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Perficient
JULY 18, 2022
A TRACE-eligible security does not include a debt security that is issued by a foreign, sovereign government or a money market instrument. A money market instrument is, other than a U.S. Treasury Security, a debt security that at issuance has a maturity of one calendar year or less, or if an agency or government-sponsored enterprise (GSE), a maturity of one calendar year and one day or less.
Accenture
JULY 19, 2022
Telecom firms play a critical role in connecting people: 85% of the US population use smartphones today, and the penetration rate in the UK has reached 92%. This access to a massive market creates a unique opportunity for the key telecoms players to offer streamlined, end-to-end customer journeys, which can be powered by frictionless digital…. The post 3 key areas where payments can empower telecoms appeared first on Accenture Banking Blog.
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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
Payments Dive
JULY 20, 2022
“Challengers frequently believe BNPL 1.0 is what it is, and will not evolve,” writes Brian Shniderman, CEO of Opy, a U.S. subsidiary of Australian payments fintech Openpay. “But it can, and very recently, it has proven that it will.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Abrigo
JULY 21, 2022
Teaching branch staff these KYC tips can aid CDD compliance BSA Officers can help tellers and other branch staff learn how to ask questions that both foster relationships and support CDD compliance. . You might also like this resource, "Customer due diligence checklist." DOWNLOAD. Takeaway 1 Front-line teams are the eyes and ears of the bank or credit union and can support Customer Due Diligence (CDD) requirements.
Accenture
JULY 20, 2022
The recent nCino nSight 2022 conference in Raleigh, North Carolina, was the first large-scale, in-person event I’ve attended in over two years. Although the presentations at the event were very informative and insightful, (look below for our nSight 2022 key session summary), I’m not going to discuss those here. Instead, I’d like to focus on…. The post Back to in-person events (for now) and loving it!
Payments Dive
JULY 18, 2022
The company has more than doubled its headcount over the past year to meet demand for its payments software from clients like Marqeta and Gusto. Now, it plans more expansion for real-time services.
South State Correspondent
JULY 20, 2022
For Now, Focus is on Europe. Treasuries are finding a bid this morning as concerns re-emerge over possible energy disruptions in Europe which could slow the global economy. The EU proposed the union cut gas consumption by 15% to be better prepared for a possible full cut-off of gas by Russia heading into the winter months. With the Ukraine war showing no signs of improvement the gas supply situation is likely to be a continuing thorn in the side of the European economy, and it will only worsen a
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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
CFPB Monitor
JULY 20, 2022
As discussed in an earlier blog post , the California Department of Financial Protection and Innovation (“DFPI”) issued an Invitation for Comments on the Proposed Second Rulemaking under the Debt Collection Licensing Act (“DCLA”) on August 19, 2021. The Commissioner is now considering draft regulations related to the DCLA’s scope, annual report, and document retention requirements, and has issued an “ Invitation for Comments on Draft Text for Proposed Second Rulemaking Under the Debt Collection
Accenture
JULY 17, 2022
Anyone in the world of payments knows SWIFT—the Society for Worldwide Interbank Financial Telecommunication—because it’s a crucial part of the international payments infrastructure. SWIFT will turn 50 next year, and it’s possible that in all that time it has never been subject to more disruption and innovation than it is right now. Consider the many….
Payments Dive
JULY 19, 2022
Following its second acquisition as a public company, Boston-based Flywire will continue to look for purchase opportunities that expand the payments company’s reach globally, said CEO Mike Massaro.
South State Correspondent
JULY 17, 2022
The Federal Reserve is rapidly changing the interest rate environment to fight inflation. The Fed’s actions are forcing lenders and borrowers to consider ways to protect cash flow, credit, liquidity, and interest rate risks. Many borrowers ask lenders how they can use swaps, caps, floors, and collars to protect their businesses and lower borrowing costs.
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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.
ATM Marketplace
JULY 19, 2022
Typically, retail ATMs have had fewer features than bank ATMs, but that may be changing. ATM Marketplace interviewed Brad Nolan, EVP and CMO at Hyosung America, to learn more about how the market is changing.
Bobsguide
JULY 21, 2022
Montréal, July 19, 2022 – TS Imagine , a global leader in trading, portfolio, and risk management solutions for capital markets, is expanding its presence in Canada with new facilities in Montréal to boost its North American operations and drive its international growth. TS Imagine opened its Montréal development hub in 2019 and is expanding to a new facility in July to help the firm serve clients worldwide.
Payments Dive
JULY 18, 2022
An experienced commerce partner can help provide the technology needed to help merchants keep up.
South State Correspondent
JULY 18, 2022
75bps Returns as the Expected Rate Hike for Next Week. The initial chatter about a possible 100bps rate hike that came after the ugly June CPI report has died down and a 75bps rate hike has returned as the consensus outlook for next week’s FOMC meeting. The chatter died down immediately after Friday’s University of Michigan Sentiment Survey found long-run inflation expectations had edged lower to 2.8% from 3.1% previously and 3.0% expected.
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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.
ATM Marketplace
JULY 22, 2022
Clinton Cheng, VP, global head of the Visa/PLUS ATM Network at Visa, will deliver key insights regarding the future of self-service banking and payments at the Bank Customer Experience Summit, being held in Chicago from Aug. 31 to Sept. 1.
Bobsguide
JULY 21, 2022
• New appointments bring significant expertise from across the financial services industry to TS Imagine’s rapid growth. LONDON, 14 July 2022 – TS Imagine , a global leader in trading, portfolio, and risk management solutions for capital markets, announces the appointment of three new board members to support the firm’s rapid growth. The new board members bring significant expertise in core business areas, including digital assets, securities finance, derivatives, and market structure, as the bu
Payments Dive
JULY 22, 2022
The spending behaviors of American Express customers don’t suggest an economic downturn is imminent, CEO Steve Squeri asserted during Friday’s second quarter earnings call.
FICO
JULY 21, 2022
Home. Blog. FICO. Continuous Financial Education for Women Small Business Owners. FICO-hosted panel at NAWBO’s 2022 Advocacy Days discusses how financial education impacts access to capital and business growth for small businesses. FICO. Tue, 02/18/2020 - 14:57. by Joanne Gaskin. expand_less Back To Top. Thu, 07/21/2022 - 15:30. In June, I had the pleasure of participating in a panel discussing credit access and financial education for women small business owners at the National Association of W
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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.
ATM Marketplace
JULY 19, 2022
Typically, retail ATMs have had fewer features than bank ATMs, but that may be changing. ATM Marketplace interviewed Brad Nolan, EVP and CMO at Hyosung America, to learn more about how the market is changing.
BankInovation
JULY 21, 2022
Cloud services are transforming business operations for financial institutions, providing a modern IT infrastructure while mitigating cyber risk. Referred to by IBM as “one of the most important shifts in the history of enterprise computing,” adoption of the public cloud is growing as organizations become more familiar with the advantages provided by the technology.
Payments Dive
JULY 22, 2022
The digital payments pioneer is distributing shares of its beat-up stock to hundreds of new workers in a bid to hang onto employees after cutting others earlier this year. A spokesperson said the distribution was a “normal course” of action.
CB Insights
JULY 19, 2022
Global fintech funding fell 33% quarter-over-quarter (QoQ) to hit $20.4B — its lowest level since Q4’20. Deals also hit a 6-quarter low, dropping 17% QoQ to reach 1,225. In line with this trend, $100M+ mega-rounds also accounted for a smaller percentage of total deals (4%) and funding (47%) than they did at any quarterly point last year. Below, check out a handful of highlights from our 197-page, data-driven State of Fintech Q2’22 Report.
Advertiser: Data Robot
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.
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