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Retailers to Lose 71 Billion Dollars in Card-not-Present Fraud Over the Next 5 Years

June 20 – New data from Juniper Research has found that retailers stand to lose $71 billion globally from fraudulent CNP (Card-Not-Present) transactions over the next 5 years. The research found that a number of factors, such as the USA’s shift to EMV cards, delays in 3DS 2.0 (3D-Secure) and click-and-collect fraud were key drivers behind the rise.

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More Aggressive Action on Failing Banks Could Save U.S. Billions, Study Says

June 19 — Billions of dollars could be saved if Congress revises a law to allow regulators to be more aggressive in reducing losses from insolvent banks, according to a recent study co-authored by a faculty member from Florida Atlantic University’s College of Business.

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Big Data Market to Account for More Than $76 Billion By End of 2020

May 24 – Amid the proliferation of real-time data from sources such as mobile devices, web, social media, sensors, log files and transactional applications, Big Data has found a host of vertical market applications, ranging from fraud detection to scientific R&D.

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Mobile Biometric Payment Volumes to Triple in 2017 to Nearly 2 Billion

May 8 – A new study by Juniper Research has found that the number of mobile payments authenticated by biometrics will rise to nearly 2 billion this year, up from just over 600 million in 2016.

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Shift Away from Cash Could Save 30 Billion Dollars Worldwide

April 3 – Citi Digital has published a new report, entitled; “The March Toward Digital Money: Bringing the Underbanked in from the Cold.”

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Thrift Flexibility Bill Backed by ABA Introduced in House, Senate

March 8 – U.S. Reps. Keith Rothfus, R-Pa., and Jim Himes, D-Conn., reintroduced the Federal Savings Association Charter Flexibility Act, supported by the American Bankers Association. The ABA called the bill “the epitome of sensible regulatory relief,” and said it would give greater flexibility to institutions chartered under the Home Owners Loan Act.

According to the ABA, the legislation will allow a federal savings association to elect to function as, and be regulated like, a national bank without having to change charters or governance structure.

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GOP Senator Introduces Bills to Lessen Bank Regulations, Defund CFPB

February 20 – Federal regulatory agencies would be required to take risk profiles and business models of institutions into account when crafting regulations, in a new bill introduced by Sen. Mike Rounds, R-S.D., a member of the Senate Banking Committee. Rounds also introduced a bill to defund the Consumer Financial Protection Bureau. (more…)

Even Financial Surpasses 1.5 Billion Dollars in Loan Requests

December 16 – Even Financial, a dedicated supply-side platform for online finance products and services, has increased loan originations by 205 percent quarter over quarter since the beginning of 2016. With more than $1.5 billion in loan requests, the platform has grown to serve over one million customers with its proprietary API and a broad network of consumer portal partners, backed by leading analytics and funnel optimization designed specifically for online finance.

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5 Questions … Bill Northey, Iowa Secretary of Agriculture

 

What are your expectations for farm income and/or outputs?

We are in a very challenging time on the farm income side and that is likely to continue at least for a bit as we work through the surplus grain that is out there right now.  So, when you look at the next couple of years, it could continue to be difficult for farmers to remain profitable.  But long term, I remain very optimistic about the future of agriculture.  The world needs the products we produce in agriculture, and even more so as world population grows and the middle class around the world expands.  So, we will have challenges and ups and downs, but long term I’m excited about the future of agriculture.

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ATM Market is Expected to Reach 21.9 Billion Dollars by 2020

November 28 – A new report published by Allied Market Research titled, “World ATM Market – Opportunity Analysis and Industry Forecast, 2014 – 2020,” forecasts that the world ATM market is expected to garner revenue of $21.9 billion by 2020, registering a CAGR of 7.7% from 2015 to 2020. Integration of wireless communicating devices (smart phones) with ATM machines has reduced ATM frauds arising due to card skimming. This factor has significantly fostered the adoption of smart ATMs, which has consequently fuelled the growth of the world ATM market. According to the Federal Reserve System, the ATM market in developed countries, such as the U.S., the U.K., Canada, and France has attained maturity, while the Reserve Bank of India forecasts a rapid growth of the ATM markets in the emerging countries.

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