Sen. Elizabeth Warren (D-Mass.) this week sent letters to Wells Fargo and Early Warning Services—the parent company of the Zelle peer-to-peer payment platform—criticizing their response to her recent report on P2P fraud.
Digital transformation is a hot topic and a broad concept. It's hard to go a day without hearing a related buzz word (e.g., digital transformation, digital journey, digitization, digital capabilities, digital roadmap) and related article on how to do it, why it's important, or what to focus on first.
Though consumers have embraced ACH and wire transfers as essential ways to pay and move money, digital tools have increasingly become popular payment methods for consumers due to their convenience and speed.
For several years, digital transformation has been top of mind, and community bankers have been diligently evaluating our infrastructure, identifying needs, and developing our individual approaches. That work is finally paying off in the form of concrete plans.
Ecommerce sales are projected to grow from $4.2 trillion worldwide in 2020 to $5.4 trillion in 2022, according to Statistica. And in North America, card-not-present transactions (excluding travel) have grown as much as 30 percent, according to Visa’s Q2 2021 earnings report.
The Independent Community Bankers of America (ICBA) Foundation today announced that the disaster relief program, activated in coordination with ICBA-affiliated Florida Bankers Association, has over $200,000 pledged to assist employees and families of Florida’s community banks affected by Hurricane Ian.
The Independent Community Bankers of America (ICBA) today called on the Federal Housing Finance Agency and the federal banking regulators to align their capital rules to avoid penalizing community banks for supporting local communities during the COVID-19 pandemic.
The Consumer Financial Protection Bureau reopened the public comment period on its series of orders collecting information on the business practices of large U.S. tech companies that operate payments systems.
Up to 20% of terrorist attacks are financed by crypto-assets or otherwise linked to digital assets, a United Nations official told Bloomberg. The UN’s Svetlana Martynova said officials are detecting more cases of crypto use in terror-financing as they step up their scrutiny of such practices.
The decision to bring the highly successful ThinkTECH Accelerator program in-house and introduce year-round programming was the natural progression in ICBA’s efforts to cultivate successful community bank-fintech partnerships that address today’s market challenges and opportunities, writes Charles Potts in a new blog post.