2024

article thumbnail

Card networks to implement gun code in California: report

Payments Dive

Visa, Mastercard and American Express are moving forward with use of a new gun merchant category code for credit card purchases in California, according to CBS News.

article thumbnail

Banking and Non-Banking Industries Voice Concern Over Basel III Endgame Proposal’s Potentially Significant Negative Impact on Consumers

CFPB Monitor

On September 18, 2023, the Federal Reserve, Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency jointly published and sought comments on a proposal to implement new, standardized capital requirements that would, among other things, increase capital requirements for banks with $100 billion or more in total assets.

Industry 179
Insiders

Sign Up for our Newsletter

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

article thumbnail

Beyond the average: patterns in UK price data at the micro level

BankUnderground

Lennart Brandt, Natalie Burr and Krisztian Gado The Bank of England has a 2% annual inflation rate target in the ONS’ consumer prices in dex. But looking at its 700 item categories, we find that very few prices ever change by 2%. In fact, on a month-on-month basis, only about one fifth of prices change at all. Instead, we observe what economists call ‘sticky prices’: the price of an item will remain fixed for an extended amount of time and then adjust in one large step.

Data 128
article thumbnail

Next level AI: Quantum AI

BankInovation

Graphics processing units on today’s computers can only hold so much capacity — and financial institutions are looking to quantum computing to process ever-growing data sets and turbocharge AI.

Analytics 121
article thumbnail

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

article thumbnail

The gold revolution comes to ATMs

ATM Marketplace

Gold has long remained a stable asset and today that asset is coming to ATMs.

ATM 165

More Trending

article thumbnail

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.

article thumbnail

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
article thumbnail

Unlocking the Promise of AI for Loyalty in Banking

The Financial Brand

This article Unlocking the Promise of AI for Loyalty in Banking appeared first on The Financial Brand. Explore practical applications of generative AI in retail banking for the level hyper-personalized engagement expected by consumers. This article Unlocking the Promise of AI for Loyalty in Banking appeared first on The Financial Brand.

article thumbnail

Aldi debuts Grabango checkout tech at Chicago-area store

Payments Dive

The retailer is working with artificial intelligence startup Grabango to offer the service for the first time in the U.S. at a location in the Chicago suburb of Aurora, Illinois.

Chicago 468
article thumbnail

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.

article thumbnail

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.

article thumbnail

New York enacts surcharge law

Payments Dive

The state’s new law will force merchants to limit credit card surcharges and more clearly disclose them to consumers. If the businesses don’t, they could face a $500 penalty.

New York 468
article thumbnail

Mastercard to be dinged by Discover deal

Payments Dive

While both Mastercard and Visa will be impacted by Discover Financial Services’ plan to be acquired by card issuer Capital One, the former is likely to bear the brunt of the blow.

Capital 437
article thumbnail

Rivals may chase Fiserv special bank charter lead

Payments Dive

If the payments giant receives a special Georgia charter and gains access to the card networks, it could open the floodgates for other merchant acquirers, attorneys said.

Georgia 459
article thumbnail

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.

article thumbnail

X plans payments launch for this year

Payments Dive

“I would be surprised if it takes longer than the middle of [2024] to roll out payments,” X owner Elon Musk said during a conversation last month with Ark Invest CEO Cathie Wood.

Payments 448
article thumbnail

Visa cracks down on surcharge programs

Payments Dive

The card network company is boosting efforts to enforce surcharge rules, with non-compliance potentially resulting in fines up to $1 million, according to one card processor.

article thumbnail

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
article thumbnail

6 payments trends to watch in 2024

Payments Dive

Swipe fee battles, real-time payments, fraud prevention and acquisition plans will be among the hot topics pulsing through the industry this year.

Trends 487
article thumbnail

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.

article thumbnail

Where will embedded payments flourish in 2024?

Payments Dive

There are three areas where embedded finance is a good fit, and they are characterized by high volume and frequent payments, writes one industry executive.

Payments 448
article thumbnail

Fiserv seeks special purpose bank charter

Payments Dive

The designation would allow the payment processor to own transactions from end-to-end, removing the need for a bank partner.

Payments 500
article thumbnail

Why ‘pay-by-bank’ faces adoption hurdles in US retail

Payments Dive

Pay-by-bank has been catching on only slowly, and it’s a particularly long shot for showing up at the point-of-sale anytime soon.

US 458
article thumbnail

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.

Apple 417
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

Yellen asks Congress for stablecoin legislation

Payments Dive

Treasury Secretary Janet Yellen renewed a call for Congress to act on digital assets, saying “there is no appropriate regulatory framework.

431
431
article thumbnail

Fiserv lines up FedNow clients

Payments Dive

The mega processor has signed up 200 banks for FedNow, but now its clients are in search of use cases.

435
435
article thumbnail

Florida weighs cashless ban

Payments Dive

Lawmakers in the state are considering legislation that would require merchants to accept cash payments.

Florida 468
article thumbnail

Visa debuts Web3 loyalty program

Payments Dive

As the card network behemoth ventures into the Web3 experience, some firms are scaling back there.

Cards 447
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.