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Tag: Featured


Activity, Retail Banking

Consumers tap BNPL for larger purchases

September 29, 2022

Via: Payments Dive

Marqeta’s report points to consumers acquiring more credit cards. The share of consumers who only have one credit card fell, from 49% in 2021 to 39% this year. Conversely, the portion of respondents with two credit cards increased, from 31% […]


Activity, Retail Banking

Banks take stock of payment fraud threats

September 28, 2022

Via: Payments Dive

Card fraud is an ongoing concern for financial institutions, despite the popularity of newer payment methods, the PYMNTS-Featurespace study, released on Sept. 13, highlighted. But emerging payment methods, including P2P vehicles such as Zelle, Venmo, Cash App and others, are […]


News

Are Bank Directors Worried Enough About Fair Lending?

September 28, 2022

Via: Bank Director

If your bank has not modernized its fairness practices, the old ways of doing fair lending compliance may no longer keep you safe. Here are three factors that make this moment in time uniquely risky for lenders when it comes […]


Capital and Risk, Insurance

Insurers Warn California’s Inaction Threatens Auto Policies

September 27, 2022

Via: Insurance Journal

Top U.S. insurance companies and associations say California is risking a crisis in the nation’s largest automobile insurance market by refusing to approve any rate increases for more than two years, since the start of the coronavirus pandemic. The companies […]


Capital and Risk, Insurance, Regulations

Vermont Supreme Court Revives COVID-19 Business Interruption Insurance Claim

September 26, 2022

Via: Insurance Journal

The Vermont Supreme Court has kept alive a COVID-19 business interruption loss claim by major shipbuilder against a group of reinsurers. The state’s high court ruled that the case brought by Huntington Ingalls Industries Risk Management and its captive insurer […]


News

First National Bank Named a Pittsburgh Area Top Workplace for 12 Consecutive Years

September 26, 2022

Via: PR Newswire

First National Bank, the largest subsidiary of F.N.B. Corporation ( NYSE: FNB), announced today that it has again been named a Greater Pittsburgh Top Workplace by the Pittsburgh Post-Gazette. FNB, which was the highest-ranking bank in the large company category, […]


Capital and Risk, Operational, Trading

JP Morgan partners AI/ML platform Cleareye to digitise trade finance operations

September 22, 2022

Via: FinTech Futures

The new “global strategic alliance” will see Cleareye work with JP Morgan’s Trade and Working Capital Group, leveraging the former’s digital solution ClearTrade to simplify the due diligence processing associated with trade finance transactions and related physical documents. Over the […]


Activity, Retail Banking

Nymbus and Citizens Bank of Edmond to launch niche bank for US military

September 21, 2022

Via: FinTech Futures

The new financial brand, set to launch in early 2023, will offer bespoke financial products and services designed to meet the unique needs of newly enlisted members of the armed forces. Nymbus Labs will be responsible for the brand creation, […]


Capital and Risk, Operational

Revolut falls victim to “highly targeted” cyber-attack

September 21, 2022

Via: FinTech Futures

In an e-mail to affected customers, the fintech says that while their money is safe and no card details, PINs or passwords were accessed, some individuals may be vulnerable to fraud and phishing attacks. A Revolut spokesperson says: “Revolut recently […]


Activity, Investment Banking

HSBC Ventures invests $35m in Monese

September 20, 2022

Via: FinTech Futures

The fresh funding brings the total capital raised by Monese to $208 million and will be used to grow its cloud-based Platform-as-a-Service (PaaS) business. Last year, Monese launched its PaaS business in a strategic partnership with Investec, which saw the […]


Capital and Risk, Credit, Regulations

House lawmakers add credit card competition bill

September 20, 2022

Via: Payments Dive

Like its Senate companion, the House bill seeks more card network competition as merchants fight for lower interchange — or “swipe” — fees. Those fees, typically around 2%, are what merchants pay to route transactions through the card giants’ networks. […]


Channels

Revolut launches new one-click payment solution

September 14, 2022

Via: FinTech Futures

The challenger says its new product will make online shopping “even easier as it facilitates direct payments” which will be validated through Face ID or fingerprint unlock, with no account numbers being shared. Revolut Pay can be used by Revolut […]


News

Holiday spending to rise 7.1%: Mastercard

September 13, 2022

Via: Payments Dive

Overall, the card company expects spending to rise over 2019 pre-pandemic levels this holiday season, despite the uncertain economic environment, including inflation and higher interest rates. Indeed, Mastercard expects total retail sales, excluding auto, to jump 18.8% over the 2019 […]


News

Banking is Changing: Here’s What Directors Should Ask

September 13, 2022

Via: Bank Director

One set of attributes for effective bank directors, especially as community banks navigate a changing and uncertain operating environment, are curiosity and inquisitiveness. Providing meaningful board oversight sometimes comes down to directors asking executives the right questions, according to experts […]


Regulations

Wells Fargo to pay $145M to settle Labor probe into 401(k) plan

September 12, 2022

Via: Banking Dive

Wells Fargo neither admitted nor denied the Labor Department’s allegations, and noted that the transactions in question stopped in 2018. “The Company strongly disagrees with the DOL’s allegations and believes it followed applicable laws in conducting the transactions,” the bank […]


Channels

Global Retail Pos Terminals Market to value USD 60 Bn by 2030, Predicts Global Market Insights Inc.

September 12, 2022

Via: PR Newswire

The Retail Pos Terminal Market revenue is expected to cross a valuation of US$ 60 billion by 2030, according to latest research study by Global Market Insights Inc. The growing customer inclination towards cashless transactions as a leading factor driving […]


Activity, Retail Banking

Swiss digital bank Alpian partners Visa for new debit card

September 8, 2022

Via: FinTech Futures

The digital bank’s debit card offering comes with a multi-currency account (CHF, EUR, GBP and USD) with real-time foreign exchange features and no handling fees, Alpian claims. With the Visa partnership, Alpian’s debit card will be accepted in over 200 […]


News

Bank of America to issue revamped office-return policy in 6-8 weeks

September 7, 2022

Via: Banking Dive

Bank of America will release a revamped office-return policy in the next six to eight weeks, CEO Brian Moynihan told an audience Tuesday at a banking conference in New York. “We’ll have more flexibility than we did, on paper, before,” […]


Capital and Risk, Liquidity

Japanese Yen (JPY) Collapses Across the Board as the BoJ Ramps Up Bond Purchases

September 7, 2022

Via: DailyFX

The Japanese Yen is friendless at the moment and is sinking against a wide range of currencies as the central bank step continues to buy government bonds in size to keep interest rates lower for longer. The Japanese Yen is […]


News

Credit Suisse sells global trust business to Butterfield and Gasser Partner

September 7, 2022

Via: FinTech Futures

Butterfield will acquire Credit Suisse Trust’s (CST) business in Guernsey, Singapore and the Bahamas while Gasser is set to snap up CST’s Liechtenstein business. Credit Suisse head of investment solutions and sustainability, Michael Strobaek, says the firm regularly reviews its […]