SCOTTSDALE, Ariz. - (02/24/05) -- Funds processor eFunds Corp. saidnet income for its fourth quarter rose 12% to $11.3 million, or 22cents a share, despite a drop-off in revenues. Fourth quarterrevenues fell 4% to $130.5 million, mainly due to the sale of thecompany's ATM portfolio, one of the largest in the country. For thefull year, net income surged 41% to $40.8 million, or 83 cents ashare, while revenues rose 4% to $52.1 million. eFunds processedand switches transactions for the credit union-owned CO-OPNetwork.
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While banks will likely increase near-term dividend plans, analysts and investors are more focused on the long-term outlook for capital requirements from regulators.
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The Missouri bank surveyed consumers about what kind of financial management tools they use, then built its My Finance360 tool in response.
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GodFather malware mimics and manipulates real financial apps on Android devices, exposing sensitive data without user suspicion.
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As banks consider their strategies, other big names are also considering a role for digital assets.
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The Financial Technology Association — which had been granted the right to defend the Consumer Financial Protection Bureau's open banking rule after the bureau declined to defend it — filed a motion Sunday to preserve the rule.
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Kevin Fromer, who has headed the Financial Services Forum since 2017, announced his departure Monday. Fromer transformed the Financial Services Forum to advance the interests of the largest U.S. banks.
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