Payments

The partnership with Stellar Development Foundation will integrate MoneyGram’s network with the Stellar blockchain to facilitate payments using Circle Internet Financial’s USD Coin. 

As head of global liquidity and cash management, Reyes oversees an operation that has 9,000 employees serving 40,000 large corporate and midmarket companies and 1.5 million business banking clients.

Clark heads global transaction banking at MUFG Americas Holdings and is Bay Area president of MUFG Union Bank.

Executives from banks, credit unions, card issuers and investment firms at American Banker's Card Forum discussed ways the public's embrace of digital transactions and credit alternatives like buy now/pay later is shaping everything from products to business strategies.

Venture capital firms are pouring money into startups whose data-crunching technology — including machine-learning systems that predict funds availability — speed payments and inform credit decisions in e-commerce.

By limiting the credit offered to new borrowers during the pandemic, banks created an opening for installment lenders like Affirm, Afterpay and Klarna.

FirstBank is working with the two major U.S. real-time payments systems so that it can suit the preferences of different customers. Its flexibility could set an example for regional and small institutions.

TD and others are partnering with the money transmitter to respond to the competitive threat posed by startups offering low-value remittances. "Change is going to happen. Real-time payments are coming," a TD executive said at American Banker's Card Forum.

Several company leaders will relocate to Atlanta as part of the expansion, and the office will focus on technology and client services.

In many cases, stopping fraud in the moment is costly — and any transactions a bank flags incorrectly could alienate its best customers, a Bangor Savings Bank executive said at American Banker's Card Forum.