Digital Transactions’ Post

Started my annual step-count at #afp2024 - looking forward to meeting client banks and vendors over the next couple of days. DM me if you'd like to meet. #treasury #banktech #fintech #treasurytech #transactionbanking

Have you had a chance to look at the brochure for #MLPAYMENTS24 yet? 👀 Get a sneak peek at what we have in store now >> https://bit.ly/3xOZzCF See the first 50 speakers🎤, the hot topics we'll be diving into🔥, what's new for 2024💡, and more! #banks #merchants #paymentserviceprovicers #paymentsecosystem #networking #insights #paymentinfrastructure #openbanking #payments #seamlesspayments #paymentoperations #counterfraud #digitalidentity #paymentswallet #cbdcs #digitalcurrencies

We know that owning a business can bring challenges, and we want to help you get back to what's important. 📁 CNB Simply Business Checking Accounts are straightforward with no account analysis fees or cash management fees. Visit a branch today, and let us get you back to business. 🏦 #cnbtx #communitynationalbank #backtobusiness

When $NYCB didn't get the answer it wanted, it went to a different regulator, who said yes "...Interviews with a dozen industry officials, merger experts and regulatory sources, as well as public documents, show how NYCB for years wanted to grow by pulling off a major deal, but when the Federal Deposit Insurance Corporation (FDIC) stood in its way the bank turned to the OCC. The OCC greenlit the deal even though the FDIC had already privately vetoed the transaction over concerns about the banks' lending practices, according to two of the sources. Additionally, the OCC disclosed when approving the deal that it was in the middle of an examination into potential discriminatory lending at Flagstar. Reuters could not ascertain the outcome of that exam. As a safeguard, the OCC imposed a special condition that required the bank to seek its written approval for future dividend payouts. With NYCB, now fighting to shore up its balance sheet, approving the Flagstar deal looks to have been a miscalculation, say some regulatory and merger experts..." https://lnkd.in/eqTrxd3h

In its ongoing effort to tighten oversight of the relationships between banks and nonbanks, the Federal Deposit Insurance Corporation (FDIC) has issued a proposal to strengthen recordkeeping for custodial deposit accounts. This Update provides a breakdown of the proposal and its practical implications for fintechs and their bank partners. https://bit.ly/47DOPEB Authors: Sam Boro, Dax Hansen, Jim Vivenzio, and Logan Payne #Fintech #InvestmentManagement #DigitalAssets #FDIC

New FedFin report looks at the FDIC’s proposal governing bank accounts with transaction capabilities linked to third-party custodial accounts – posterchild: Synapse. The new approach is so onerous and costly as to likely end these relationships, a result I think at least some at the banking agencies won’t be the least bit sorry to see. Caution: the FDIC is open to demanding like-kind daily reconciliations, reports on all custody deposits, a very high cost for no clear reason. #synapse, #FDIC, #custodialaccounts, #custodydeposits, #banks, #recordkeeping

A few years ago, financial institutions faced significant challenges with settlement risk (even present today in many.....). They were constantly worried about the possibility of one party defaulting after the other had already fulfilled their payment. This risk was particularly acute in foreign exchange (FX) transactions, where timing and accuracy are crucial (even the hige amounts). The fear of loss was ever-present, and they knew they needed a solution. The Discovery: Continuous Linked Settlement (CLS) 🔍 While researching ways to mitigate this risk, CLS came to help. Its a system designed to eliminate settlement risk by ensuring simultaneous settlement of payments. Quick short read----------> Santosh Kumar, GFIN #CLS #payment #moneymovesbysantosh #iso20022

Paul Noring, CPA and Lucas Abreu Lima discuss the evolving Banking as a Service (BaaS) landscape and increasing regulatory scrutiny from the Federal Deposit Insurance Corporation, Office of Comptroller of the Currency, and state regulatory departments. Read the full article at the link: https://lnkd.in/giUZaj7S #BaaS #Fintech #BRGExpert #FDIC #OCC

Excellent start to the day with the launch of FIS Securities Finance Matching Platform. Great to see so many of our industry peers attend the breakfast briefing at EightClub in London on July 3, 2024. Recently FCA approved, the FIS team is proud to launch the platform that will revolutionize trade matching with intelligent automation for lenders and borrowers! Contact me to for more information. #capitalmarkets #fintech #securitiesfinance #tradematching #securitiesfinancematching

Financial Instruments -Letter of Credit (LC) -Standby Letter of Credit (SBLC) -Bank Guarantee (BG) -Tender Guarantee (TG) -Proof of Funds (POF) -Pre-Advice Services (PA) -Blocked Funds Services (BF) -Bank Comfort Letters (BCL) -Ready, Willing and Able Letters (RWA) #tradefinance #importexport #crossbordertrade