Fintech News

JANUARY 16, 2024

In 2024, the banking sector is witnessing a pivotal transformation driven by advanced technologies like AI and cloud computing, evolving customer demands, and changing regulatory landscapes. Accenture’s “ Banking Top 10 Trends ” report for this year highlights this transformative journey. Generative AI supercharges banking.

AI 111

AI Risk Non-Bank On-Demand 111

PYMNTS

MARCH 13, 2020

After the financial crash in 2008, banks saved up billions in reserves to make sure that they would be able to handle times of market stress and be able to keep lending. The Fed is basically telling banks to dip into those reserves if they have to.

Fed 58

Fed Federal Reserve Caps Non-Bank 58

Fintech News

MAY 7, 2024

It will also continue to invest in its comprehensive tech stack to power the end-to-end customer journeys across banking, insurance, and embedded commerce. Founded in 2008, Perfios is a B2B SaaS company serving the banking, financial services and insurance industry in 18 countries, empowering 1,000+ financial institutions.

Payment APIs and Integration 124

Payment APIs and Integration Non-Bank Finance FinTech 124

PYMNTS

MARCH 2, 2020

are asking for government intervention in what they call a “farcical” program meant to help business banking after the program experienced a number of setbacks, including one bank returning half of its awarded money, according to a report by the Financial Times. to give customers more choices in banking. Bankers in the U.K.

Non-Bank 52

Non-Bank Audit Treasury Governance 52

PYMNTS

NOVEMBER 27, 2018

They’re also taking their toll on the non-bank mortgage lenders that proliferated in the good old days of zero or near-zero interest rates, compliments of the Federal Reserve. The Incredible Shrinking Non-Bank Mortgage Lending Market. Instead, they often rely on short-term bank loans – now also at a more expensive rate.

Non-Bank 46

Non-Bank Underwriting Federal Reserve Origination 46

Segpay

JUNE 13, 2024

Since its launch in July last year, about 700 banks and credit unions have joined the FedNow network, and this list is expected to grow as the Fed seeks 8,000 financial institutions. Accessibility: Available to all banks and credit unions. SEPA was first introduced for credit transfers in 2008, followed by direct debits in 2009.

FedNow 52

FedNow Federal Reserve Real Time Payments Instant Payments 52

PYMNTS

OCTOBER 14, 2016

ACI Worldwide, a global provider of real-time electronic payment and banking solutions, announced on Thursday (Oct. For non-PSPs, a sponsor bank would offer settlement and liquidity services. 13) it has provided the back-end technology for TransferWise’s integration into the Faster Payments Scheme.

Faster Payments 71

Faster Payments Accreditation Payments Non-Bank 71

PYMNTS

NOVEMBER 28, 2019

SEB believes there is no need to take further action after the bank was accused of having links to suspected money laundering in Estonia. Earlier this month, the bank revealed that it had been contacted by the Swedish public broadcaster SVT about “suspected money laundering in the Baltics.”

Money Laundering 43

Money Laundering Accounts Non-Bank Crime 43

PYMNTS

DECEMBER 27, 2018

While Danske Bank’s shareholders started out the year feeling confident, the financial institution’s involvement in a massive money laundering scandal has led to its stock falling almost 50 percent in 2018. According to Bloomberg , shareholders had seen the value of their investment in Danske increase five-fold since the end of 2008.

Money Laundering 51

Money Laundering Non-Bank Authorization Risk 51

PYMNTS

APRIL 22, 2020

China has had non-stop growth for more than 40 years, and even the two previous crises (2000 and 2008) did not result in overall negative growth. At the time of the outbreak, PingPong partnered with one major global bank to create a special channel for real-time donations from Europe and the U.S. 2000 was the year when Yahoo!

Zelle 74

Zelle Governance Government Venmo 74

CB Insights

APRIL 22, 2020

SMBs need financing, but many banks have been slow to process loan applications and even slower to disburse funds. Aid-related or not, alternative (non-bank) lenders have an opportunity to step in and demonstrate technological advantage over incumbent lenders through faster loan processing and payment.

FinTech 87

FinTech Processors Government Governance 87

PYMNTS

AUGUST 29, 2018

Deutsche Bank ’s Chief Executive Christian Sewing said on Wednesday (August 29) that the banking regulations in Europe remain fragmented, hurting the opportunity for international deals in Europe. The executive noted that the pressure for banks to consolidate via mergers and acquisitions is only going to increase.

Cross-Border 40

Cross-Border Laws Non-Bank Regulations 40

Fintech News

MAY 23, 2024

Confronted by shifting factors such as tech advancements, generative AI, high interest rates, increased institutional oversight, and evolving customer expectations — the best banks must adapt their business and operating models in 2024, including in Asia. CHINA #1 China Merchants Bank China Merchants Bank Co.,

Online and Mobile Banking 130

Online and Mobile Banking Treasury Non-Bank Finance 130

FICO

MARCH 30, 2020

I think there are more similarities with the 2008 financial crash than we think. The global financial crises of 2008. Two years post 2008 that period of return to financial good had reduced to nine months. What has been the true level of impact on disposable income – can open banking support and validate the impact?

Returns 81

Returns Non-Bank Assessments Risk 81

PYMNTS

JULY 1, 2019

The fear was that the central bank could potentially go into and take funds from foreign currency accounts, the way former ruler Robert Mugabe did in 2008. The Governor of the Central Bank John Mangudya said there is a total of $1.3 billion in non-Zimbabwe currency in the bank’s accounts.

Accounts 46

Accounts Void Central Bank Non-Bank 46

PYMNTS

APRIL 17, 2018

Interest rates plummeted as the Fed held the federal funds rate at zero in the hopes of stimulating lending in an environment where credit went from dangerously free-flowing to dangerously non-existent in the span of a few months. Big banks have moved away from the segment in general — and from subprime borrowers in specific.

Non-Bank 55

Non-Bank Finance Risk Fed 55

Green.Money

JULY 12, 2019

Something I preach all of the time is, you should always have at least one back up bank account. Also, while I'm at it, never have your personal bank account/s at the same place you hold your business accounts. After giving them access to your banking information, immediately open a backup account. Please trust me for now.

Accounts 52

Accounts Non-Bank Processors Checks 52

PYMNTS

FEBRUARY 22, 2019

has reached pre-2008 levels, meaning banks are facing risk that is elevated above what has been seen since the financial crisis. The good news, according to Moody’s, is that at this point, their credit analysis of the banking segment indicates that those risks are “contained” over the next 12-18 months. .

Risk 46

Risk Mitigation Non-Bank Credit Risk 46

PYMNTS

AUGUST 30, 2018

Although Deutsche Bank says it knows it cannot return to the market domination it enjoyed before the 2008 financial crisis, according to Reuters reports on Wednesday (Aug. 29), CEO Christian Sewing defended his growth efforts at a recent banking conference. “It especially needs strong banks.”

Federal Reserve 40

Federal Reserve Non-Bank Risk Management Returns 40

PYMNTS

OCTOBER 1, 2019

Anil Ambani , group chairman of the non-bank financial company (NBFC), revealed the firm’s plans on Monday (Sept. Since their highest level in January 2008, reports said, shares have lost about 99 percent of their value. “It

Risk Mitigation 43

Risk Mitigation Regulations Non-Bank Mitigation 43

PYMNTS

MARCH 10, 2020

The small business credit gap is a global issue, a problem that banks and FinTechs continue to hack away at, yet one that remains stubbornly persistent. Traditional banks will require credit histories and collateral to underwrite a small business loan, both of which many SMBs in Southeast Asian nations lack. Beyond Traditional Data.

Underwriting 77

Underwriting Small Business Value Added Service Non-Bank 77

PYMNTS

JANUARY 29, 2018

The financial services market has progressed by leaps and bounds in terms of innovation, from the rise of alternative finance to the development of technologies like blockchain and open banking initiatives. Now, a decade on, small business optimism is up in the U.S., Credit unions cannot invest more than 12.25

Credit Union 46

Credit Union Small Business Non-Bank Origination 46

PYMNTS

APRIL 3, 2018

banking group Barclays announced the completion of its “ring-fencing” project, an overhaul of the financial institution’s structuring to prevent some of the scenarios that occurred in the wake of the financial crisis. banks starting Jan. reports said. As well as ensuring that U.K. For Barclays, the process cost nearly $1.4

Posting 40

Posting Non-Bank Push-to-Card Small Business 40

PYMNTS

APRIL 21, 2020

While choice is important for any borrower, the influx of players in the corporate lending market following the 2008 financial crisis made it more difficult for mid-market corporates to ensure that they make an appropriate choice of loan product and service provider. Overwhelming Choice.

Finance 56

Finance Non-Bank Agreements Small Business 56

PYMNTS

APRIL 28, 2020

Starting last week, the COVID-19 stimulus funds began hitting the bank accounts of citizens nationwide. In 2001, the government gave most households up to $600 ($875 adjusted for inflation) and in 2008 handed out up to $1,200 per household. households. . It is not a completely unprecedented effort on the part of the U.S. government.

Checks 86

Checks Economy Consumer Governance 86

Green.Money

OCTOBER 31, 2019

Never pay regular bank rates over 15-30 years. In most Caribbean destinations, the taxes are low or non-existent for foreign investors, and what you pay now will double or triple by the time you retire. He also holds a seat on the board of breast cancer non-profit, as well as a clean ocean initiative in the Caribbean.

Non-Bank 52

Non-Bank Advisors Checks Processors 52

Green.Money

AUGUST 16, 2019

Wire transfers are costly, and in many cases, take a trip to the bank. Best of all, there is no bank in the middle. Lonnie Passoff Founder and President Green.Money (Green Payment Processing) About the Author: Lonnie Passoff started the first-ever internet-only electronic check processing firm in 2008.

Bitcoin 52

Bitcoin Wire Transfer Non-Bank Checks 52

Green.Money

MAY 18, 2020

They don't even think about why banks sell credit card processing but only accept check payments on their products. Never point your finger at a processor or bank if something goes wrong with a client. He also holds a seat on the board of breast cancer non-profit, as well as a clean ocean initiative in the Caribbean.

Credit Cards 52

Credit Cards Checks Wire Transfer Multi-Currency 52

FICO

SEPTEMBER 29, 2020

The impact of this crisis is expected to be even bigger than the 2008 crisis, with NPLs rising 6 to 8 times higher than normal in some areas. Further to “strategic defaulters”, make an attempt to start having sight of collaborators vs. non-collaborators. Can any of it be leveraged further using the open banking data?

Non-Bank 87

Non-Bank Risk Participant Automation 87

PYMNTS

MAY 25, 2016

. “Regulators don’t make our loan decision for us,” said Wells Head of Corporate and Commercial Banking and Treasury Management Perry Pelos. ” Reports said Wells has pursued greater market share in its non-retail banking operations since its acquisition of Wachovia in 2008.

Office of the Comptroller of the Currency 40

Office of the Comptroller of the Currency OCC Federal Reserve Treasury Management 40

Green.Money

OCTOBER 9, 2020

This has been in motion for a generation and benefits banks much more than it does main street businesses. Around the time the internet began, banks and processors started lobbying for and pushing this cashless society. However, the banks were thinking about something entirely different. The banks refuse to lose that percentage.

Processors 52

Processors Credit Cards Push-to-Card Card Issuer 52

Green.Money

JULY 16, 2021

What is amazing to me is these “advisors” always seem to have a mortgage on a home, and they’re paying more in interest to the bank than the bank is paying on their cash. So what is “savings” if it’s not a bunch of stored cash in a bank account or safety deposit box at your local branch? In some years it goes much higher.

Advisors 52

Advisors Non-Bank Bitcoin Processors 52

Fintech Labs Insights

APRIL 6, 2023

With “risk-free” rates pushing 5%, even a business with $50k in reserve (throwing off $200/mo) has an incentive to sweep that out of a non-interest checking account. But what we will see is the challenger banks dusting off their sweep features and emphasizing them in their marketing and branding. 95,000 6 Meow * 11 4.3%

Small Business 15

Small Business Treasury FDIC Accounts 15

CB Insights

DECEMBER 7, 2017

Originating, processing, and underwriting a home loan with a large bank lender still requires faxes and snail mail and take almost as long as it did 20 years. Non-bank lenders are becoming much bigger players in mortgages. In 2011, three banks accounted for half of new mortgage loans, according to the Washington Post.

Non-Bank 69

Non-Bank Online and Mobile Banking Origination Underwriting 69

PYMNTS

JULY 8, 2019

is perhaps the most vocal market in the late B2B payments world, with regulators working to address delayed invoice payments, while FinTechs and banks weigh in on the matter with their own efforts to tackle the issue. One producer, Rana Sarkar, was pointed out as one of the worst offenders of late- or non-payment to more than a dozen vendors.

Laws 49

Laws B2B Payments Small Business 49

Green.Money

JULY 27, 2019

See, the banks don't like losing three to four percent. You can open a bank account for nothing with Bank of America, Chase, Wells Fargo, Citibank, and others. He also holds a seat on the board of breast cancer non-profit, as well as a clean ocean initiative in the Caribbean. I bet you they do not.

Wire Transfer 52

Wire Transfer Credit Cards Push-to-Card Checks 52

FICO

JANUARY 6, 2021

There were a number of things that we did not do during the last global crisis, the global financial crisis of 2008,” he noted. “In Collections, risk and operations executives will need to have the data that helps them: Understand the differences between COVID-19 related debt and non-COVID related debt. Redundancy?

Posting 98

Posting Credit Risk Risk Returns 98