NEW YORK CITY–The Financial Services Technology Consortium (FSTC) has completed the Camera Calibration project aimed at understanding the key drivers of differences among check imaging systems. During the six-month project, the team developed test documents to be used in the field to ensure image systems are calibrated to improve image consistency and maintain image usability. This is especially important with the proliferation of remote image capture systems, FSTC said. The Camera Calibration Project is one of a series of on-going projects that FSTC has completed in the last four years to help the financial services industry move toward fully functional check image exchange.
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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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