PHOENIX– Arizona FCU said yesterday it has contracted with USERS’ Maestro Projects Group for a multi-phased business process improvement project. The Maestro Projects Group provides integration and business process management services that seek to help credit unions make better use of the technology solutions they already have in place in order to generate greater efficiencies. During phase 1, Maestro will integrate the many third-party applications the $1.6 billion uses during account enrollment, including functions such as OFAC identity checking, social security number verification, postal address verification and retail credit history checking. During phase 2, Maestro will standardize Arizona's process for setting up employee authorizations on the core system, which will boost security. The credit union has more than 700 employees. USERS is a unit of Fiserv.
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The central bank extended the deadline for comments on Regulation O by one month, to Nov. 4.
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The Brazil-based digital bank, which recently launched a U.S. business, submitted an SEC filing to stop the spread of misinformation.
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The bank-owned payments company has been developing an interoperable payments network that will allow banks to clear and settle tokenized deposit transactions. It's targeting an early 2027 launch for the network, and is working toward an atomic future thanks to bank demand.
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More states are providing funding to community development financial institutions, which are contending with hostility from the Trump administration and challenges from high interest rates.
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Chicago-based Northern Trust has started its search for a new CFO as David Fox plans to retire in March; the American Fintech Council has been appointed as an observer on the Conference of State Bank Supervisors' newly formed nonbank industry advisory; Wells Fargo has hired JPMorganChase investment banker David Harkin to advise on technology deals, and more in this week's banking news roundup.
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A proposal is meant to ensure advisors can trade client assets on a discretionary basis without triggering onerous custody requirements, while also giving them a self-custody option for crypto.
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