CHICAGO - (01/02/06) ABN Amro Mortgage Group, Inc., will beswitching to electronic data transfer to its credit reportingcompany instead of physically shipping the data tapes, aftertemporarily losing one such tape containing vital personalinformation for more than two-million customers. The tape had beenreported lost on its way to a DHL shipping facility where it was enroute to the credit reporting company. The tape was found one monthlater at the DHL facility from which it had originally beenreported lost, and ABN Amro said it is hoping that means none ofthe sensitive data was ever actually compromised, although is stillinvestigating the situation. In the meantime, ABN Amro is exploringelectronic data transfer options instead of shipping datatapes.
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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.
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