Both banks are preparing rollouts of Casca's software and participated in the firm's $29 million funding round.
In an era where businesses are increasingly focused on cloud computing, Citigroup is turning instead to souped-up hardware in the form of IBM's newest z13 mainframe, which it says can help it better deal with the explosive growth in mobile and online transactions.
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SVB promotes its head of payments infrastructure, Turkey approves Colendi to open a digital bank and more.
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Banks like Capital One, U.S. Bank and Santander are updating their floor plans and their menus — often with a discount on food or beverages for cardholders — to reach more millennial and Gen Z consumers.
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Consumer loan balances fell in July for the first time since 2020 as banks have tightened lending standards in response to rising rates and jettisoned assets to bolster liquidity and capital levels.
CEO Max Levchin said the lender is testing technology that allows merchants to perform more advanced testing of promotional financing offers.
Lloyds Banking Group is cutting around 1,600 roles across its branches, part of a push by the lender to provide more services online.
In a speech, Federal Reserve Gov. Adriana Kugler said sound monetary policy comes when electoral politics are kept out of central banking.
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So far, mostly larger businesses are embracing digital payments, says Avidxchange's Cameron White.
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It is time for banks to figure out their role in the future financial ecosystem to avoid becoming a casualty of the creative destruction process.
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Regulators must urgently usher the unbanked or underbanked individuals into the wider financial ecosystem as they continue to craft open banking rules, says FISPAN's Clayton Weir.
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The banks have invested in gen AI and embedded finance, respectively.
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A headline-grabbing 2022 lawsuit alleging racial bias by home appraisers has been quietly dismissed for lack of evidence. At the same time, the Trump administration is rolling back many of the policy changes involving home appraisals that the Biden administration put in place.
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With its acquisition of a Cleveland-area bank still in the works, the Cincinnati-based bank struck a deal that would provide its first retail presence in Chicago.
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Amid waning federal support for community development financial institutions and minority depository institutions, a program launched by two banking trade groups is beginning to generate a steady stream of deposits for mission-focused lenders.
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Federal Trade Commission data shows scam losses for adults 60+ have skyrocketed, with banks under pressure to strengthen protections.
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Analysts said trade war-related issues are pressuring the U.S./Mexico remittance corridor, lowering the value of the acquisition. Devin McGranahan told American Banker Intermex's technology and footprint provide a path for future expansion.
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As Coinbase joins a wave of crypto companies seeking national trust charters from the Office of the Comptroller of the Currency, traditional banks are warning regulators not to rush approvals for crypto firms eager to enter the federal banking system.
President Trump wants the two government-sponsored loan buyers to help speed lower-cost home creation and their oversight agency's director is following up.
The 23rd annual ranking of women leaders in the banking industry.
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