DENVER - (10/25/05) -- Card processor First Data Corp. saidit has completed its purchase of Vigo Remittance Corp., a providerof low-cost international electronic money transfer services andpartner of the World Council of CUs in its IRnet project. WOCCUsaid it plans to continue its low-cost IRnet project with Vigo, atleast for the time being. First Data purchased Vigo from Great HillPartners, a Boston-based private equity firm, for an undisclosedprice. Vigo was started 20 years ago to provide money-transferservices to Brazilian nationals living in New York City and Newark,N.J., and has since expanded to serve 50 countries, mostly in LatinAmerica and the Caribbean. In 2003, Great Hill Partners purchasedVigo. First Data also owns Western Union Financial Services Inc.,the world's largest money-transfer company. Vigo, which is based inSunrise, Fla., will operate as an independent complementary brand,First Data said.
-
Synovus Financial demonstrated at an industry conference how it is using Microsoft's Copilot to help its staff address customers' concerns.
3h ago -
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.
4h ago -
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.
4h ago -
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.
4h ago -
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.
5h ago -
But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
5h ago