PYMNTS

NOVEMBER 23, 2020

India’s central bank is considering allowing payment banks and other finance companies to become lenders. A working group within the central bank is also mulling over whether to allow industrial conglomerates to set up banking units, according to Reuters. In a committee report released on Friday (Nov.

Banking 97

Banking Construction Financial Systems Finance 97

PYMNTS

AUGUST 31, 2020

The future of real-time payments is tied closely to cloud banking, and as more FIs migrate in that direction, the manifold benefits of real-time payments are propagating beyond the biggest players. Self-regulating financial systems sound too good to be true – and it’s not quite that simple. Adaptability and Scalability.

Banking 135

Banking Financial Systems Technology Investments 135

PYMNTS

MARCH 19, 2020

The Federal Deposit Insurance Corporation ( FDIC ) gave the green light to an application from the FinTech firm Square to create a de novo industrial bank in Utah, the agency said on Wednesday (March 18). Square Financial Services will originate commercial loans to the retailers that use Square for payments.

Banking 110

Banking Financial Systems Finance Sales 110

PYMNTS

JANUARY 15, 2021

The Financial Crimes Enforcement Network (FinCEN) late Friday (Jan. 15) announced that it is assessing a $390 million penalty against Capital One for engaging in what it says are “both willful and negligent violations” of the Bank Secrecy Act (BSA). financial system.”.

Banking 107

Banking Compliance Currencies Financial Systems 107

PYMNTS

JANUARY 22, 2021

India's central bank wants stricter regulations for big shadow lenders, according to a new report from Bloomberg. The Reserve Bank of India , according to the Friday (Jan. 22) report, wants to prevent events like the collapse of a major financier in 2018 — which continues to have effects on the financial system even now.

Banking 109

Banking Financial Systems Leverage 109

Future CFO

JULY 18, 2023

Higher interest rates raise risks for non-bank financial institutions globally, said Moody’s recently. Given higher interest rates and lower growth, distress in the largely unrated non-bank financial institution (NBFI) sector globally could have spillover credit impacts on many other sectors, the credit rating agency noted.

Banking 52

Banking Leverage Risk Management Financial Systems 52

CFO News

JUNE 28, 2023

Scheduled commercial banks' net non-performing assets (NPA) ratio fell to a 10-year low of 3.9 per cent in March 2023, the Reserve Bank of India noted in the latest edition of its Financial Stability Report.

Banking 52

Banking Financial Systems 52

PYMNTS

JUNE 29, 2020

FDIC) is considering nixing its quarterly reports of banks in an attempt to modernize the way data is handled. Part of the overhaul could focus on replacing the “call” reports that banks are required to file within 30 days after each quarter, which result in copious 60-page reports with thousands of data fields.

Banking 88

Banking Financial Systems Economics Technology 88

PYMNTS

JANUARY 6, 2021

Thus far, the numbers do not bear out a massive uptake of a business model, that for the stakeholders, is essentially free (There are roughly 38 banks signed on and 5 million users of CoDi, as measured in late 2020). Banks generate more business by enabling payments for merchants. The buyer’s bank validates the transfer.

Banking 145

Banking Planning Accounting Currencies 145

PYMNTS

OCTOBER 19, 2020

It comes on the heels of an IMF report that raises concerns about growing momentum toward central bank-issued digital currencies (CBDCs). central bank has yet to decide whether to plunge ahead, said that issues need to be vetted, include protecting any new digital currency from cyberattacks, fraud and high-tech counterfeiters.

Currencies 108

Currencies Banking Financial Systems 108

PYMNTS

NOVEMBER 12, 2020

Twelve years after the housing and mortgage markets’ collapse threw the United States into financial distress not seen since the Great Depression, market watchers are again on the lookout for a possible new banking crisis spawned by upheaval in the U.S. commercial real estate sector. No Quick Fix. The Government’s Response.

Banking 91

Banking Concentration Financial Systems Retail 91

PYMNTS

MARCH 13, 2020

ICICI Bank in India has announced it will initiate a rescue deal with Yes Bank to the tune of up to 10 billion rupees ($135 million), according to Reuters. Yes Bank is India’s fifth-largest private bank. Yes Bank had been struggling to offload a number of bad loans.

Banking 60

Banking CFO Financial Systems Planning 60

PYMNTS

DECEMBER 22, 2020

The State Bank of Pakistan (SBP) is looking at making corporate supply chains digital, a report from Pakistan Today stated, with an eye toward more financial inclusion. “It It is the overarching aim of the State Bank to ensure a safe and secure financial system," said SBP Deputy Governor Sima Kamil at a web conference, per the report.

Banking 86

Banking Invoicing Financial Systems Retail 86

PYMNTS

JULY 21, 2020

Open banking is appealing to financial institutions (FIs) and regulators in many markets, even as the pandemic sweeps across the world. Regulators in other regions, including Latin America, are also shaping and announcing plans to enable open banking and better support digital financial systems.

Banking 91

Banking Financial Systems Planning Compliance 91

Future CFO

DECEMBER 14, 2021

China's shadow banking assets will continue to decline on regulators' continued focus on containing systemic risks in the financial sector, said Moody’s recently. Broad shadow banking assets fell by around RMB1.58 Broad shadow banking assets fell by around RMB1.58 from 58.3% Trust loans fell by RMB1.2

Banking 52

Banking Leverage Economics Financial Systems 52

PYMNTS

NOVEMBER 10, 2020

Many consumers move to new countries to pursue economic opportunities, but adjusting to these locations also requires learning the ins and outs of new financial systems — a transition that can be filled with friction. How Rayo Delivers Immigrant-Focused Financial Services. Consumers who move to the U.S.

Banking 86

Banking Compliance Currencies Financial Systems 86

PYMNTS

NOVEMBER 8, 2018

This week SWIFT, the financial messaging service based in Belgium (and where the acronym stands for the Society for Worldwide Interbank Financial Communications) said that it would suspend access for at least some Iranian banks. brought back financial and other sanctions against Iran, which in turn came after the U.S.

Banking 81

Banking Financial Systems Treasury Communication 81

PYMNTS

MARCH 6, 2020

The Indian government has seized control of its fourth-largest private bank as it organizes a bailout plan and temporarily limits how much depositors can withdraw, according to reports on Friday (March 6). The RBI has capped the withdrawal limit at Rs 50,000 ($676) for 30 days, sending people into a panic and emptying Yes Bank’s ATMs of cash.

Planning 67

Planning Banking Financial Systems Securities 67

PYMNTS

OCTOBER 10, 2019

The United States Federal Reserve has passed new rules which lower the liquidity and capital requirements for most banks, as well as easing other restrictions. The Financial Times is reporting that Federal Reserve Chair Jay Powell announced the new rules on Thursday (Oct. Smaller banks can now have 0.6

Banking 62

Banking Financial Systems 62

PYMNTS

FEBRUARY 27, 2020

Bank of Japan (BOJ) Deputy Governor Masayoshi Amamiya said that before they issue their own digital currencies, central banks around the world should attempt to get a better understanding of the pros and cons of the process, according to a report by Reuters.

Banking 64

Banking Currencies Financial Systems Planning 64

PYMNTS

JULY 1, 2020

The Office of the Comptroller of the Currency (OCC) said in a report this week that it will examine how the coronavirus is impacting compliance by financial institutions (FIs). Grappling with such increased demand with fewer resources might make it challenging for banks to satisfy at least some regulatory requirements, such as data privacy.

Compliance 66

Compliance Banking Currencies Financial Systems 66

PYMNTS

JULY 13, 2020

The nation’s banks hoping to use COVID-19 as an excuse to shutter branches or get permanent concessions from regulators better think again, the Financial Times reported. Department of Treasury, told the newspaper he was not prepared to revisit the fundamentals of bank regulations as a result of the pandemic. Brooks told U.S.

Banking 68

Banking Currencies Treasury Financial Systems 68

PYMNTS

JUNE 26, 2020

More than 10,000 financial institutions (FIs) around the world are implementing or exploring open banking , an emerging trend in the financial industry that allows banks and FinTechs to freely share their data, encouraging collaboration and the development of new customer-facing services. Open Banking’s Data Benefits.

Banking 79

Banking Securities Education Financial Systems 79

PYMNTS

MARCH 10, 2020

A new challenger bank in the U.S., While fairly common in Europe, challenger banks in the U.S. The bank has its sights set on small businesses, startups and freelancers. The bank features customer service teams that speak several languages, about 300,000 ATMs in its network and what it calls seamless vendor payments. .

Banking 54

Banking Financial Systems Startups eCommerce 54

PYMNTS

JULY 1, 2019

The Bank for International Settlements ( BIS ) has announced the launch of a BIS Innovation Hub to enable central banks around the world to collaborate on financial technology solutions and innovation. Central banks have a major role to play.

Banking 62

Banking Financial Systems Technology Economics 62

PYMNTS

JUNE 21, 2019

The head of Germany’s central bank warned about stablecoins, which are cryptocurrencies tied to traditional currencies, according to a report by Reuters. Jens Weidmann said that if the new currency becomes widely used, it could undermine banks. This might disrupt transaction banking and financial market intermediation.”.

Banking 59

Banking Currencies Financial Systems Accounting 59

PYMNTS

MARCH 17, 2020

One , a new digital banking service in the U.S., The digital banking service is the brainchild of Bill Harris, former CEO of Intuit, founding CEO of PayPal and founder and previous CEO of Personal Capital; as well as Brian Hamilton, who co-founded PushPoint and was founding CEO of Azlo. There’s a gap in the market that’s not being met.

Accounting 52

Accounting Banking Financial Systems Finance 52

PYMNTS

OCTOBER 5, 2020

Banks Oppose Idea Of Possible Big Tech Banking Charters. House committee started to look at the idea of letting firms like Facebook or Amazon get charters to run as banks. The banking industry, however, is against the idea. “We Last week, a U.S. European Commission To Appeal Apple State Aid Decision.

Banking 91

Banking Compliance Advertising Tax Planning 91

Adam Kae

NOVEMBER 17, 2023

Here at Adam Kae & Associates we aim to shed light on the common practice of solely relying on the bank balance and emphasizes the importance of a more comprehensive and holistic approach to financial management. There is an illusion of adequacy that comes with merely glancing at your bank statement, but it's not good enough.

Finance 52

Finance Profit and Loss Banking Prioritization 52

PYMNTS

MAY 2, 2019

To that end, Invest In Blockchain reported that Mark Carney, governor of the Bank of England, said that the central bank should gear up for a “fourth industrial revolution” that includes at least some impact to payments, chiefly through blockchain and decentralized systems. Also in the U.K.,

Banking 78

Banking Strategic Planning Currencies Financial Systems 78

PYMNTS

JANUARY 13, 2021

Ingo Money CEO Drew Edwards recently told PYMNTS that “Historically, banks have viewed FinTechs through an ‘us versus them’ lens — and rightly so, because, in so many cases, the banks were disintermediated or relegated to become ‘dumb vaults’ for the FinTechs they partnered with. Challenge And Opportunity For Lenders.

Banking 52

Banking Treasury Risk Management Financial Systems 52

Future CFO

MARCH 30, 2021

The fall in China's shadow banking activities since the fourth quarter of 2020, reversing the growth over the first three quarters, is set to continue in 2021 as regulators withdraw economic stimulus and focus on containing financial systemic risks, said Moody’s recently. percentage points to 58.3%, the firm added.

Banking 40

Banking Financial Systems Leverage Economics 40

PYMNTS

AUGUST 29, 2019

Global payments company MoneyGram announced a new partnership with HD Bank in Vietnam to provide a home delivery service, MoneyGram said in a press release on Thursday (Aug. MoneyGram is committed to enhancing our product offerings in Vietnam and we believe this is a progressive and mutually rewarding step towards that goal.”. local time.

Banking 75

Banking Currencies Financial Systems Technology 75

CFO News

APRIL 1, 2024

The RBI, established in 1935, operates as the country's central bank as per the recommendations of the Hilton Young Commission and governed by the Reserve Bank of India Act, 1934.

Foreign Exchange 40

Foreign Exchange Currencies Financial Systems Banking 40

CFO News

FEBRUARY 16, 2024

Vasudevan, an executive director at the Reserve Bank of India (RBI), stated that cryptocurrencies lack underlying value and therefore cannot be considered as currencies. The RBI has expressed concerns about cryptocurrencies like Bitcoin, citing potential systemic risks to financial systems.

Currencies 52

Currencies Financial Systems Banking 52

PYMNTS

MARCH 22, 2019

Agustin Carstens, the general manager at the Bank for International Settlements , said that banks shouldn’t issue their own bitcoin-like tokens because it could undermine global financial stability, as well as monetary policy, according to a report by Bloomberg.

Banking 69

Banking Currencies Financial Systems Retail 69

PYMNTS

DECEMBER 19, 2018

San Francisco-based FinTech company Square, known for its white card readers, has once again decided to become a banking establishment, according to a report in The Wall Street Journal. The company had previously asked to start a bank in September of 2017, but eventually withdrew from the process over procedural issues.

Banking 66

Banking Financial Systems Finance Retail 66