Justin Fischer

18 Best Practices For Navigating Microloan Lending #payments #fintech #paymentsolutions http://ow.ly/ZLCi30sCzOu

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🚀 Exciting times ahead in the world of fintech! Plaid has released an insightful article detailing 10 key fintech trends for 2024. From the mass adoption of fintech apps to the rise of alternative credit score methods, these trends are set to reshape personal finance and enhance financial stability for consumers everywhere. 📱💳 Highlights include: - Increased reliance on multiple fintech apps for managing finances 📊 - Emergence of new payment technologies becoming as commonplace as credit cards 💸 - Alternative credit score methods revolutionizing consumer credit 📈 Stay ahead of the curve and explore these trends to better navigate the future of finance! #FinTech #PersonalFinance #DigitalBanking #FinancialInclusion #EmergingPayments 

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How embedded finance helps merchants who "are looking for ways to increase conversions" but "don’t want to be financial institutions, and...don’t want to underwrite credit" still "help their customers buy more stuff."    Stream my convo w/ Fiserv's Sunil Sachdev, who also tells me why embedded finance now represents the fast-growing segment of many successful brands' revenues: https://lnkd.in/gZrfY9CB

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This strategy is part of a larger movement to embedded financing from fintech and Saas providers to fill the gaps in small business financing across the country and beyond. https://lnkd.in/eHc7xUZq Stripe #embeddedfinance #fintech #businessloans

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Customer/Member #1: Serviceability must remain true at all times for a human’s financial experience to avoid creating stress and anxiety over their money. 🤦📲💸 Acceptance: Are we on the same page yet about why financial institutions should support other financial institutions in the future? Protection: Don’t create opportunities for theft. 🛡️ We’re helping to shut down the noise with our digital banking platform and patent-pending brand on banking services, which sits within the financial institutions’ environment with no public internet partners. (Site-to-site VPN). This is the way! Grounding: Enough is enough. Back to basics, financial institutions. You are the only truth and trust, and you know it. 🏦 Solution: We’re giving small and medium-sized financial institutions the bells and whistles of what we’ve built for the largest of banks and protecting it from being monopolized. 💪 Rob v1.3 #fintech #creditunion #bank

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The #CFPB's proposed 2025 cap on overdraft fees is a game-changer. Slashing them from a hefty $30 to a mere $3 creates a significant revenue gap for issuers. Excited to share Kipp - Authorize More's new guide where we looked closely at the top 24 debit card issuers in the US. Worth a read! 💫 #overdrafts #creditcards #Payments #banks

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This is such a key point across industries including #automotive #mortgage #personal_loans. Fraud is hidden in early payment default losses and having an Identify Fraud solutions that requires only Name, address, DOB, SSN will not protect the majority of losses lenders are fighting from fraud & misrepresentation (also thought of as first party fraud). Thanks Justin and Frank for another great podcast.

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Get ready for tomorrow’s open banking regulation—today. Our team recently sat down for an in-depth overview of Section 1033 rulemaking, including what it means for your business, and how Plaid can help with compliance. Check out this deep dive on 1033 featuring Elyse Whitehead (Head of Enterprise Legal Services) and Justina Chen (Product Manager) from Plaid, and Angelena Bradfield (Head of Policy) from the Financial Technology Association. 📹 https://lnkd.in/emwCPtZ8

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Question for my #payments friends. Let's hypothetically say a vertical #saas platform is running ACH payments through their platform. Let's say they're charging 1% on ACH transactions. They're using a run-of-the-mill ISO platform as their payment partner. Nothing super out of the ordinary. Based on your experience, what is the average cost of an ACH transaction in this scenario? Asking for a friend. 😉 #embeddedfintech #onlinepayments

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The trajectory of fintech funding in the financial industry is ever vapid. But, the more recent downward drips could actually be a GOOD sign for banks, not bad. For one, it's important to note that the fintech ecosystem is completely dry. In fact, the ICBA's Charles Potts says he thinks “it's a flawed assumption that there is no funding." "What is happening is that in a rising interest rate marketplace, all investors — whether venture capital, seed investors, angel investors, or private equity — are a lot more circumspect, thorough and diligent." "One theme we're seeing in fintechs that are landing deals is the ability to meet banks' risk and cybersecurity requirements out of the gate," says Steve Murphy, Accenture's Financial Services industry solutions lead and executive sponsor of the FinTech Innovation Lab New York. Learn more about fintech funding and how it's affecting the banking industry:

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Our team is gearing up for Money20/20 next week, and we can't wait to dive into all things #fintech! Don't miss our panels featuring our co-founders Jordane Giuly & Morgan O'hana who will share why Lending-as-a-Service (#LaaS) is making waves 🌊 in the era of #openbanking, #AI and collaborative ecosystems reshaping the financial landscape. We believe SME business owners, banks and fintech share the same goal of a frictionless lending experience— and our B2B lending platform makes achieving this goal easier than ever before. 💼 Want to learn more? Dive into our guide on Lending-as-a-Service benefits and discover how it can supercharge your fintech or bank. https://lnkd.in/e4q7E22T #Lending-as-a-Service #LaaS #lendingautomation #embeddedfinance #money2020 

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With everyone from legacy banks to disruptive startups vying for the same customers, it's important to have an open mind when it comes to product design. In fact, Varo Bank CEO Colin Walsh says experimentation is "a necessary mindset in these dynamic times in the banking industry" in the third part of a conversation with fintech leaders by Tearsheet. https://lnkd.in/eQNKhgwZ #fintech #productdesign

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It’s a common frustration amongst advisers and builders that wealthtech ‘integrations’ are less than stellar for many reasons. In addition much of the ‘tech stack’ that advisers spend good money on isn’t seamless leading to repetitive workflows and end user/client frustration. As the space inches toward the broad use of open APIs l think the next step should be moving to becoming open source. “…the financial services stack is becoming less monolithic, more modular, and more developer-led.” Thoughts 🕸️Joe Moss📈 Jason M. Pereira? https://lnkd.in/gBFir9zK

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Fintech CEOs, if you think you’re better than the core banking providers at any particular aspect of the core banking suite, ask yourself if you are 10X better. The real reason why core banking is so resilient is that they’re incredibly good at selling “best in suite” bundles. That means a series of products that work together to deliver a service. When core banking providers sell solutions to banks, they figure out a banks budget before their proposal, then build a package that throws in all this stuff into an annual service offering. Once a product, for example Bill Pay, is included in a bank’s purchased bundle, it’s incredibly hard to unbundle. It was built that way to give the CFO of any bank a very hard approval decision on adding any new service to the suite. Where I see a lot of Fintech CEOs go wrong is that it’s easy to claim your point solution is better than any one product in the bundle. But is it exponentially better to the point that it’s worth the pain for the bank to say yes?

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10x Banking have launched a NEW category of core technology...META CORE! 🚀 👏 🏦 10x’s new platform allows banks AND system integrators for the first time to focus dev resource only on high-value code by abstracting away common product elements as well as the core ledger ITSELF. 🌐 💹 As a result, the new 10x platform only requires a bank to create and maintain as little as 2,000 LINES of code for a SINGLE customized banking product – up to a 10x reduction in code base compared to neo core platforms and up to a 10,000x reduction compared to legacy core 👨‍💻 Antony Jenkins CBE, 10x Banking founder and CEO said, “10 years ago banks knew they had to go on a journey of transformation. Good progress has been made in some areas but one of the challenges that has emerged is that even the newer technologies come with their own set of problems. The ‘meta core’ provides banks with the best of all worlds: flexibility on the one hand and unlimited scalability on the other hand. The benefits are much faster speed to market, enterprise-grade security, the ability to unlock data for AI, and a lower cost base. Neo cores have created part of the solution, but we have taken it to the next level.” “From my experience, running a bank is all about managing risks, and we’ve designed our meta core to specifically remove the key risks that banks face when upgrading their core. 10x Banking is the first company in the world to offer a ‘meta core’, and for the first time gives banks a clear roadmap to full transformation.” Find out more on the link below! 👇 Alice Thomas ThoughtLDR Frederico Venturieri Nicole Sanders Okan Ozaltin Arianne Rosmolen-Dickinson #10xbanking #fintechnews #digitalbanking #corebanking #AI #cloudbanking #bankingtechnology #fintechnews #digitalroadmap

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Faster payment adoption up in the US according to the Federal Reserve Board but much more to be done to enable businesses of all sizes to pay on their terms. Tranch works with major enterprises to offer seamless invoice to payment through automation, integrations and a full suite of Tranch payment options from our unique #PayLater proposition, secure #PaybyCard to instant payment processing with #PayNow...there's another payment method coming soon, watch this space 👀 #payments #enterprise #checkout #digital #federalreserve #fednow #rtp

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📈 Another week, another #fintechthursday! 💡 Today, look at the "10 fintech trends for 2024 that define the industry's future," an informative article from Plaid forefronting some of the trends for, and from, this year. 📢 Read now: https://lnkd.in/ewWauq8z #fineproject #fintechnetwork #fintech #finance

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