Two credit union organizations have entered into new agreements with Elan Financial Services, but for different types of services. The $1.5-billion Corporate Central Credit Union is joining with Elan to offer ATM and debit card processing to credit unions and CUSOs nationally, and noted that Elan's Fastbank Free network now has 3,600 surcharge-free ATMs available and 3,400 ATM locations that accept deposits. Meanwhile, in Tallahassee, Fla., Credit Union 24 has joined with Elan to allow CUs to offer a wider range of products to their merchant account holders.
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Synovus Financial demonstrated at an industry conference how it is using Microsoft's Copilot to help its staff address customers' concerns.
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The U.S. arm of Spanish banking giant Santander has hired Swati Bhatia to oversee retail banking and its digital transformation efforts. Bhatia joins at "an inflection point" for the company, which aims to be "a digital bank with branches," CEO Tim Wennes said.
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Mariya Rosberg is named Americas head of banking and financial services at Marsh McLennan's Oliver Wyman unit; startup ZayZoon raised $15 million in a new funding round; and more in the weekly banking news roundup.
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Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
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Once a prominent figure spurring financial institutions to engage in cryptocurrency, Bankman-Fried's downslide began with the collapse of the digital asset exchange FTX in late 2022 and hit rock bottom with his sentencing to 25 years in prison.
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But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
March 28