Citigroup Eyes Creation Of National Digital Bank

PYMNTS

Citigroup is gearing up to launch a digital consumer bank that will be national in scope and will arrive within the next three years. Citing Citigroup Chief Financial Officer (CFO) John Gerspach, Reuters reported the executive said at an investor conference that the financial company is “laying the groundwork for having a national digital bank. As it stands now, Citigroup operates branch offices in only six large cities in the U.S.

Five At Five: Instacart Makes A National Play

PYMNTS

Office of the Comptroller of the Currency (OCC) regarding the financial institution’s “technology operations.”. Welcome to Five at Five, your late look at the day’s payments and commerce news.

Digital Services Mean Every Bank Is a National Bank

Bank Innovation

But the most significant revelation from the company’s earnings call yesterday may be that digital banking allows any bank to become national. Exclusive Mobile Online Operations Retail Technology Bank of America BankMobile branch Customers Bank Flagship Community Bank PNC

Bank Of England COO Joins New Payment System Operator

PYMNTS

The Bank of England’s chief operating officer is joining the U.K.’s s New Payment System Operator (NPSO). The Payment System Operator Delivery Group is closing to hand down operation of the nation’s payment systems to the New Payment System Operator in an effort to streamline the payment ecosystem. Payments Administration (UKPA) to provide support to payment system operators. The NPSO announced news on Wednesday (Feb.

National Bank of Australia to Hire 600 Tech Experts to Compete with Fintech Industry

Bank Innovation

The National Bank of Australia (NAB) will create 600 new technology jobs. Exclusive Mobile Open Fintech Operations Payments Uncategorized data fintech National Bank of Australia Security software engineering

JPMorgan’s Interest In National And International RTP

PYMNTS

banks before it can become interoperable with other nations’ schemes, according to Art Brieske, head of faster payments at JPMorgan Chase. financial scene and ensuring those on the network can mesh with other nation’s schemes are high priority. Countries from the U.K.

New York Venture Bank Seeks National Bank Charter

PYMNTS

New York Venture Bank, a new financial institution (FI) created by big names in the financial services industry, has applied for a national bank charter. 22) report by American Banker , New York Venture Bank, which will be headquartered in New York, needs the nod of the Office of the Comptroller of the Currency (OCC) before it can launch operations.

Startup Roundup: A Look At Local, National And Global Expansions

PYMNTS

As startups such as DadeSystems , FitPay and Jewel Paymentech expand across devices and functions, Tipalti , AvidXchange and Emailage announce new growth for their local, national and global footprints. Everyone thinks of win rates differently, and people use their metrics differently,” said Pallavi Kuppa-Apte, Head of Business Operations, Chargehound. “It’s The Sydney office currently serves as the base of operations for the APAC region.

How Singapore Is Fueling A ‘Smart Nation’

PYMNTS

Singapore is on a mission to build up a Smart Nation by utilizing innovation and technology to create opportunities and strengthen communities. Startups are estimated to employ nearly 300,000 on the island nation. Singapore is poised to become the world’s first country to make the notion of a “Smart Nation” an actual reality. percent, Singapore stands as a nation with a lot to offer a growing and evolving tech ecosystem.

TSYS Inks Partnership With National Golf Course Owners Assn.

PYMNTS

16) that it has been named the official payment processing partner of the National Golf Course Owners Assn. In a press release, TSYS said the not-for-profit organization is the only trade association dedicated exclusively to owners and operators of daily-fee, semi-private, private and resort golf courses. We are looking forward to working with golf course owners and operators over the coming years to help them fulfill their payment needs.

Course 122

Thriving Family Operator: Amarillo National's Richard Ware

BankThink

Ware has been named a 2017 Banker of the Year award winner for transforming the family-owned bank into a highly profitable community lender that takes calculated risks and prides itself on treating employees and customers well. Best in Banking Community banking Commercial lending Consumer lending Auto lending Succession planning

Mall Operators Continue To Struggle With Store Closures

PYMNTS

The group, which owns much of the nation’s mall real estate, reported occupancy rates stood at 94.6 The earnings announcement comes as mall operators are trying to reboot in an era when the department store is no longer the anchor tenant of choice at many locations and brands like Macy’s and JCPenney continue to shutter brick-and-mortar stores. CBL (another mall operator) warned last week that Q2 would be a particularly weak point in a weak year.

Misinvoicing Costing Nations Billions, Warns UNCTAD

PYMNTS

For others, however, entire national economies can be affected. According to the UN Conference on Trade and Development (UNCTAD), that’s exactly what’s happening in some developing nations, in which invoice errors across Africa and South America are leading to the loss of up to two-thirds of commodity export value. According to UNCTAD, the trading practices of trading partners should be examined just as carefully as the practices of exporting nations.

Bulk Nation And The Frill-Free Customizable Grocery Future

PYMNTS

But Bulk Nation had a radical idea about fixing that problem. “We have more than 3,000 items available on our shelves,” Bulk Nation President Clay Donato noted, “and we mean it when we say customers can buy whatever they want. And, he noted, customers who are coming to Bulk Nation are also going to experience a much wider range of goods than they might otherwise. Retail Bulk Nation

Bitcoin Daily: Alabama Works On ‘Operation Cryptosweep,’ Venezuelan Banks Ordered To Accept ‘Petro’ Crypto

PYMNTS

In other news, the Alabama Securities Commission (ASC) is working on “Operation Cryptosweep” with the North American Securities Administrators Association, AL.com reported. In addition, the operation has caused 47 enforcement actions to come to pass since it started in May. The news comes as Venezuela now considers both Petro and the “sovereign Bolivar” to be official national currencies.

In Bangladesh Heist, Following the Money Through Cyber Twists: Nation Vs. Nation?

PYMNTS

Some of money has been returned, to the tune of about $15 million, after having been traced through a laundering operation that wound its way through the Philippines via casinos and some enterprises. But what happens when the prime mover behind the theft is an actual nation? Acting not against individuals, but another nation? “Follow the money,” the shadowy figure known as Deep Throat whispered to a pair of intrepid D.C.-based

Data Enablers: SigOpt’s Machine Learning Tools Help Businesses Optimize Operations

PYMNTS

From some guy’s garage in San Francisco, a group of math nerds has grown into one of the world’s finest-tuned machine learning operations. I’ve had the privilege to study and do research at many amazing universities and national labs around the world throughout my career. SigOpt now helps optimize fraud detection and investments like beer brewing and even the manufacturing of synthetic rhino horns.

National ATM Council Says NYC Ordinance Is Costly, Burdensome

PYMNTS

The National ATM Council (NAC) argued in testimony to the Committee on Consumer Affairs of the New York City Council last week that a proposed ordinance would impose costly and burdensome new security regulations on ATM operators all around the city. According to a press release , the National ATM Council said it argued last week that City ordinance Int. Regulation ATMs EMV National ATM Council Payment Methods What's Hot

ATM 116

Valley National in N.J. Starts Search for Chief Operating Officer

American Banker

Valley National Bancorp in Wayne, N.J, is searching for a new chief operating officer. breaking_news people corporate-governance nj national-regionalThe $22 billion-asset company said in a press release Wednesday that Peter Crocitto will retire on Feb.

NJ 43

National Commerce in Ala. to expand Atlanta operations with acquisition

BankThink

The company agreed to buy Landmark Bancshare in Marietta, Ga., for $115 million. Community banking M&A Capital Growth strategies Georgia

FinTech Companies Powering Seamless and Invisible Small Business Operations

Let's Talk Payments

of all businesses in the US are small businesses Small businesses present a strong community-building and economy-driving force in any nation. 99.7% Furthermore, countries that created the most business-friendly regulatory.

Grocery Tracker: Instacart’s National Push

PYMNTS

As of today, Instacart operates in 41 U.S. However, TechCrunch said that there isn’t much likeness in context or operations. “We And with 80 percent national coverage, these current stats wouldn’t come as much of a loss. Which grocery stocks look most likely to see May flowers?

What Walmart Pay Risks With National Move

PYMNTS

Those numbers will naturally fluctuate as the mobile wallet gets its chance to shine on the national stage, but experts have already begun to poke holes in the story they tell, if only because of Walmart’s insistence on Walmart Pay operating as its one and only mobile payment method going forward.

Did National Australia Bank Spy On Its Customers?

PYMNTS

Concerns about privacy breaches and unfair competition are on high after reports that National Australia Bank (NAB) is being tipped off when any of its business banking customers applies for a loan from a rival financial institution. Security & Fraud Australia international National Australia Bank What's Hot

National Trends Win Big With B2B Investors

PYMNTS

India led the competition with the most funding rounds, as investors supported the nation’s efforts to develop the digitization and sophistication of more traditional business operations: eProcurement, eInvoicing, logistics and supply chain management. did land on the board this week, thanks to one industry that has garnered particular attention in the nation.

One Last Gasp from Operation Choke Point?

American Banker

national-regional law-regulation consumer-financeSeveral banks have cut ties with payday lenders in recent weeks, and there is evidence that regulators could be pressuring them to do so.

Director Of National Intelligence Warns Of Coming IoT Security Threat

PYMNTS

According to Director of National Intelligence Daniel Coats, smart devices are more than an attractive target for hackers for profit — they could also be the launching ground for attacks on U.S. “In the future,” Coats says in his report, “state and non-state actors will likely use IoT devices to support intelligence operations or domestic security or to access or attack targeted computer networks.”

Innovator of the Year: Operation Hope's John Hope Bryant

American Banker

national-regional underbanked occ fdic consumer-finance

Mastercard Would Be Glad To Help Central Banks Issue National Digital Tokens

PYMNTS

In an interview with The Financial Times , Sarker said Mastercard would be willing to facilitate if the coin in question was a national cryptocurrency that was legitimate and was used as a national digital currency issued by central banks. “If If governments look to create national digital currency, we’d be very happy to look at those in a more favorable way [compared with existing cryptocurrencies],” Sarker said. “So

National Commerce expands Fla. operations with latest purchase

BankThink

The Alabama company agreed to buy FirstAtlantic Financial for $108 million. Community banking M&A Capital Florida

Valley National expanding Florida operations with USAmeriBancorp deal

BankThink

The acquisition would be Valley's third in the Sunshine State since 2014 and would give the New Jersey company its first branches in Alabama. M&A Community banking Earnings New Jersey Florida

Regulator Cites CU for Illegally Operating in California, NCUA Is Missing in Action

Keith Leggett's Credit Union Watch

The state regulator found that Indian Federal Credit Union was operating in the state without first obtaining a certificate allowing it to operate as a credit union in violation of state law. The cease and desist order requires Indian Federal Credit Union to stop operating or advertising as a credit union until the credit union has obtained a certificate from the commissioner. So, why hasn't NCUA acted to block this credit union from operating?

CA 40

For SME Fleet Operators In The UK, Cost Control Is In The Cards

PYMNTS

Larger operators have leverage. Thus, cost control — and visibility on margins — tends to lean toward those operators who have critical mass and scale. One recent announcement puts the spotlight on SME operators in the U.K. Finding cost savings is especially important, said Vestergaard, when vehicle operating expenses have been on the rise, especially for fuel. In fleet management, when it comes to cost containment, size matters.

UK Rail Operators Solving Problems, But Can They Make The Trains Run On Time?

PYMNTS

So goes the recent heated discourse on Go-Ahead , which owns Southern rail operator Govia Thameslink Railway and which has reported a 27 percent increase in profits, reaching £100 million. ’s remaining 27 train operators have not committed to adopting the technology. ” Well then, perhaps it’s time to re-nationalize the U.K. The U.K.’s

SunTrust to Add Operation Hope Counseling Centers

American Banker

SunTrust Banks in Atlanta has agreed to open almost 200 new locations of Operation Hope's financial-counseling centers inside its branches by 2020. breaking_news consumer-finance ga national-regional

Whitepaper: How technology is changing the way firms operate

Sageworks

The following is an excerpt from the Sageworks whitepaper "The Automation Revolution: How Technology is Changing the Way Firms Operate". and other national media companies. Businesses scour the market to determine which solution will help them attract new business, increase operational efficiency or manage priorities more effectively.

Tel Aviv Fuels Israel’s ‘Startup Nation’ Reputation

PYMNTS

Acceleration In the Startup Nation. Because it has more startups per capita than any other place in the world, Israel has gained the nickname “startup nation.” The company uses a chat-driven, bot-powered interface for security to help address the widening skills gap in many security operations teams.

Wirecard Inks Deal With National Bank of Greece To Integrate AliPay

PYMNTS

Wirecard announced Wednesday (April 12) that it is now collaborating with the National Bank of Greece (NBG) and is integrating Alipay into the technical infrastructure of Greece’s largest bank as a new payment method. In a press release , Wirecard said it has enabled National Bank of Greece to integrate Alipay across the country in as many locations as possible. With the new collaboration, Wirecard and the National Bank of Greece will provide them with Alipay.

Bitstamp Secures EU’s First Bitcoin Exchange National License

PYMNTS

Bitstamp has stamped its name in the record books in the EU for being the first company of its kind to secure a national license to operate as a bitcoin exchange. But now, Bitstamp’s license gives it access to operate across 28 EU Member States, providing all European customers with its bitcoin trading platform.

3 Reasons to Prepare Your Fraud Operations for PSD2 – NOW

FICO

So much is still undefined; it’s not yet transposed into national law, the complete Regulatory Technical Standards are not issued and much is still open to interpretation. A laissez faire attitude to preparing your fraud operations for PSD2 may however be a bad move.

How a FinTech Company and a National Postal Service Reach the Unbanked

Let's Talk Payments

Mid-October, FinTech firm conta.MOBI, which provides payment account (including a free version), announced a collaboration with Correios, the state-owned company that operates the national postal service of Brazil. With this. Fintech Insights Asia Europe insights US

Valley National COO to Retire

American Banker

The chief operating officer of Valley National Bancorp in Wayne, N.J., breaking_news people corporate-governance nj national-regionalwill step down next month.

UK public targeted again by data breach attacks: National Lottery

The Paypers

(The Paypers) According to Camelot, National Lottery operator, around 26,500 National Lottery players have had their online accounts hacked by cyber criminals