The bank technology seller closed the sale of its payment processor to Global Payments, which sold its card issuing unit to FIS. Helping banks get a handle on artificial intelligence is a big part of FIS' plan to reach banks.
Bank technologists see the potential for AI in lending, money laundering detection, fraud and other areas. Regulators and bank executives insist on “explainability.”
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Companies are planning to spend more on technology and artificial intelligence in 2025 when compared to last year, and AI is a choice area for investments.
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As part of the deal, FIS is acquiring Worldpay's credit processing unit.
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The Sweden-based payment firm, which recently delayed its IPO due to the trade war, will use Fiserv's Clover point of sale system as it looks to build a market in the U.S. Plus: Payoneer makes a deal in China and other news in this week's global payments roundup.
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Judy Long, president of First Citizens National Bank in Dyersburg, Tenn., launched the Smart Women financial literacy program after seeing female customers struggle with managing their finances.
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The Ohio regional will start offering advisory services to professional athletes after it buys Franklin Street Partners.
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Seth Frotman, whose student lending unit had been gutted in May, said the bureau's current leadership "has abandoned its duty to fairly and robustly enforce the law.”
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The Federal Housing Finance Agency in the Trump administration had been preoccupied with Fannie Mae and Freddie Mac’s capital position. Acting Director Sandra Thompson has shifted the agency’s focus to affordable housing and fair lending.
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CEO Thomas Cangemi is pushing to modernize a bank that for decades was focused largely on multifamily lending. The company has already agreed to buy the mortgage lender Flagstar Bancorp and its partnership with Figure Technologies, a blockchain-focused fintech, has the potential to make that acquisition more productive.
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Financial institutions will have until early October to weigh in about new risk-based capital requirements for nonbanks.
IdentityMind Global will offer Confirm.io’s remote document verification technology to its clients.
The Memphis-based bank said the pace and quantity of interest rate cuts will be a determining factor in its performance. In the first quarter, its deposit costs continued to fall, but those strides were offset by soft loan growth.
President Trump posted a letter on social media addressed to Federal Reserve Gov. Lisa Cook, informing her that he was terminating her due to allegations of mortgage fraud. The move is likely to tee up an unprecedented legal fight over the Fed's independence.
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Micromanaging the terms under which payment networks are willing to process debit-card transactions is bad for both businesses and consumers. Congress has the power to roll back intrusive regulations.
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The most important issue on voters' minds is inflation, and the inflation blame game has heated up with the upcoming presidential election. Putting politics aside, an objective economist would blame neither candidate, since the underlying cause of our inflation, like so many other problems today, was COVID-19.
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The fate of Capital One's acquisition of Discover should be determined based on its own merits and not be maligned for the foibles of other failed banks.
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The regional bank recorded $130 million of legal charges during the fourth quarter in connection with the resolution of a legal battle involving overdraft fees. Its earnings also took a hit from $63 million in employee severance costs.
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Though fourth-quarter net charge-offs reached a level not seen since the financial crisis, the Little Rock, Arkansas-based regional bank is forecasting better results in 2026 and an even stronger recovery in 2027.
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The collapse of the illicit escrow marketplace disrupts a major hub for "pig butchering" scams, though experts warn the ecosystem will likely fragment.
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The Providence, Rhode Island-based bank has steadily revamped certain parts of its strategy. Now, it will update its systems for serving customers.
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The bank technology seller's deal with Sumitomo Mitsui Card Company is an opportunity to cash in on a government initiative to reduce cash — and comes on the heels of an earnings miss. Plus, Klarna plans to offer more credit options through a partnership with Walmart-backed OnePay, Revolut embraces agentic AI protocols and more in American Banker's global payments and fintech roundup.
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Executives surveyed by American Banker said companies vying to wrestle market share from banks are a major threat to operations in the coming year.
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"We're coming into your market," PNC Chief Executive Bill Demchack said Friday. "If you're not coming into our market to come fight us, we're coming to your market to come fight you, and we're going to get some percentage of your market."
During the fourth quarter, the Buffalo, New York-based bank reported its lowest ratio of nonperforming loans to total loans since 2007.
The 23rd annual ranking of women leaders in the banking industry.
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