March, 2024

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Cash App enforcement action expected this year

Payments Dive

Federal regulators reviewing whistleblower allegations related to Block’s Cash App may act on the complaints this year, predicted an attorney for the complainants.

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36 Hours at Fintech Meetup: Three Themes from the Las Vegas Event

Gonzobanker

It happened this week: Fintech Meetup , one of the newer trade events that brought 4,000 or so fintech and banker types to Las Vegas. The striking thing about the conference was not the magician hired to walk around the booths during Monday’s reception or the illustrator seated right next to a sign created by artificial intelligence on Sunday’s welcome gathering, it was the event’s meeting pit: a section in the exhibit hall that was dedicated to taking short meetings that the mobile app as

Las Vegas 158
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AI's next big step for banking is data processing: First Internet Bank CEO discusses

ATM Marketplace

First Internet Bank CEO David Becker believes that banks should take a "forward looking approach" with AI, especially in the area of data processing.

Data 121
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DOJ launches whistleblower pilot program and cracks down on artificial intelligence misuse

CFPB Monitor

Following a year of new DOJ policies and guidance designed to incentivize companies to self-report misconduct and to cooperate with government investigations, the DOJ has added a new pilot whistleblower rewards program. In their remarks at the American Bar Association’s 39 th Annual National Institute on White Collar Crime, Deputy Attorney General Lisa Monaco and Acting Assistant Attorney General Nicole Argentieri both explained that the new whistleblower policy is designed to incent

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The State of Automation in Financial Services 2024 Report

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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Take it from a former banker: the budget is for ordinary people. The mega-rich look on and laugh | Gary Stevenson

TheGuardian

Whatever Jeremy Hunt says, traders know the rich will get richer and the poor will get poorer. And they’re paid millions to bet on it In May 2010, I lost $8m in a week. I was 23 years old. Back then, I was an interest rates trader for Citibank in Canary Wharf. I had won that job only three years earlier in a card game while I was a maths student at LSE.

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Banking apps fall short on fraud protections: report

Payments Dive

Consumer Reports Senior Director Delicia Hand said preventing fraud and scams is "crucial" for traditional and digital banks alike, as more of their customers use their mobile apps.

Fraud 393
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Time to TikTok?

ABA Community Banking

The popular app is where Gen Z goes for trends, news and even financial advice. Here’s how some banks are using TikTok and platforms like it for education. The post Time to TikTok? appeared first on ABA Banking Journal.

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AI's next big step for banking is dating processing: First Internet Bank CEO discusses

ATM Marketplace

First Internet Bank CEO David Becker believes that banks should take a "forward looking approach" with AI, especially in the area of data processing.

Data 105
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When Data Speaks, Do You Listen? The Power of Data-Driven Storytelling in PR and Marketing

William Mills

In a time where information reigns supreme, the strategic use of proprietary data in PR and marketing is not just an advantage — it's essential. As data-driven storytelling has become a cornerstone for success, PR and marketing professionals must learn how to properly gather, analyze and derive this information to help create stronger messages, bring more credibility, and garner greater media attention for clients.

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Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance

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.

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US banks abandon ‘bare minimum’ environmental standards project, alarming climate groups

TheGuardian

Citi, BofA, JPMorgan Chase and Wells Fargo leave framework that assesses environmental, social and governance (ESG) financing Four of the world’s biggest banks have left the Equator Principles, a set of minimum industry standards and safeguards for financial institutions to address environmental and social risks in countries where they finance fossil fuel and mining projects.

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Why bank consolidation is down but not out

American Banker

Bank mergers and acquisitions have slowed in recent years amid recession fears and other economic uncertainties. But bank consolidation is a century-old trend that's expected to rev up again as early as this year due to higher costs, tougher regulation and fierce competition.

Trends 89
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JPMorgan to launch biometric checkout next year

Payments Dive

The bank’s payments unit plans to engage in more pilots this year before rolling out the checkout service broadly next year, said Prashant Sharma, JPMorgan’s executive director of biometrics and identity solutions.

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Mastercard partners with Nexi to support Open Banking in Europe

The Paypers

US-based payment technology corporation Mastercard has partnered with Europe-based paytech Nexi to support Open Banking payments in Europe.

US 101
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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

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.

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Protecting an ATM's hardware, software by slowing down criminals

ATM Marketplace

How can operators delay or frustrate ATM attacks long enough to be effective?

ATM 120
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AI that shows how your business flows: Bringing together generative AI and process intelligence

BankInovation

AI has landed for the consumer. It’s no longer a topic for data scientists and IT alone. But what is Generative AI? Equally as mystifying is Process Intelligence – a complex subject, frequently hidden behind the process expert wisdom.

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Banks driving increase in global meat and dairy production, report finds

TheGuardian

Financiers providing billion-dollar support for industrial livestock companies to expand leading to unsustainable rise in production Billion-dollar financing is driving unsustainable increases in global meat and dairy production, a report has found. Global meat production rose 9% between 2015 and 2021, the report said, while dairy production increased 13% in that time.

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PNC CEO: 'Regulation is uneven' between OCC, other agencies

American Banker

Bill Demchak, in a panel hosted by Brookings on Tuesday, said that last year's bank failures wouldn't have happened if the Office of the Comptroller of the Currency had been the supervisor.

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2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

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.

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Visa spends ‘billions’ battling cybersecurity threats

Payments Dive

“We are all in an arms race to protect this ecosystem, to protect the network,” Visa CEO Ryan McInerney said at an investor conference last week.

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Fintech Meetup Stays True to Its Mission: Making Connections

William Mills

We all cherish those networkers with a superpower for connecting people. Now there’s a conference that’s honed in on meeting the need: Fintech Meetup. Here’s our take on the show.

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Bringing the ATM to the cloud

ATM Marketplace

With cloud-based tech, ATM operators can deliver the same customized experiences as smartphones.

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3 themes to watch at Bank Automation Summit U.S. 2024

BankInovation

NASHVILLE — Bank Automation Summit U.S. 2024 kicks off today with panelists from BankUnited, Fifth Third Bank and Wells Fargo taking the stage to discuss today’s AI revolution in banking at the Omni Nashville in Nashville, Tenn.

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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.

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The US could be facing a 2008-style financial crisis. Why does Sunak want to copy it?

TheGuardian

The PM’s admiration for Washington’s economic model may backfire amid looming US banking and stock market disasters One of the consistent themes of the Conservative economic narrative is an admiration for the US and its ability to grow quickly. The way it has bounced back from the pandemic and how it has ridden out the impact of Russia’s invasion of Ukraine should serve as a blueprint.

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The tech partnership helping credit unions finance Teslas

American Banker

Through its integration with the auto manufacturer, Origence and its indirect lending subsidiary FI Connect aim to match buyers in need of auto loans to eligible credit unions.

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Apple blocks Epic’s rival app store

Payments Dive

“Apple is trying to cynically kill off developers that stand up to them,” Epic Director of Public Policy Leo Rees said Wednesday.

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Fintech startup focused on asset risk builds bank advisory board, gets Citi Ventures funding

ABA Community Banking

The company's technology is designed to align with the U.S. financial sector's push to diversify loan portfolios—particularly highlighted by risks exposed by the bank failures of the past year. The post Fintech startup focused on asset risk builds bank advisory board, gets Citi Ventures funding appeared first on ABA Banking Journal.

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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.