BROOKFIELD, Wis. – Fiserv said it is closing down its Franklin, Mass., office and will eliminate the 100 jobs there next month.
The company said it decided to shift the work to its Houston and St. Louis facilities, after reviewing its options when its Franklin lease came up for renewal.
Most of the workers will be let go by Oct. 1. At least four workers have agreed to relocate to another Fiserv office.
The bank is accusing its fintech rival of racketeering for raiding its offices across nine states and stealing an untold amount of confidential information.
Mirroring the efforts of a number of larger institutions, Portland-based Northeast Bank plans to open a de novo branch in Bangor and renovate its seven existing branches.
The Brazilian digital bank is bringing its services to U.S. consumers through a partnership with Lead Bank as it awaits its own final charter approval.
Research from Cerulli Associates suggests that many RIAs have a long way to go with AI adoption while already finding possible ramifications for back-office staff.
Regulators want firms to spot where several critical functions ride on one provider, a question the department's earlier vendor guidance did not ask.
The digital asset and card-issuing firms are supplying the guts to enable transactions for cards and digital wallets, betting that Mastercard's ties to both firms will be attractive to banks, consumers and merchants.
