VIENNA, Va. - (03/09/05) -- Navy FCU said it has signed with NCRCorp. to install the company's ImageMark Passport technology tovalidate, balance and consolidate check images at its 106 servicescenters worldwide. Under the contract, the transactions will beelectronically transmitted to Navy Federal's processing center inVienna, Va., where NCR's ImageMark Transaction Manager system willvalidate, balance and consolidate check images. NCR's ImageMarkArchive will store the payment transaction data and images forseven years. Credit Union members worldwide, including home bankingcustomers, will be able to retrieve this information
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The digital neobank is expecting spending to stay strong through current economic conditions, and a new credit card is projected to bring in increased revenue.
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Analysts say the fintech must "grow like a fintech, but be profitable like a bank" as its capital base shrinks to its lowest level to date.
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Comptroller of the Currency Jonathan Gould said Thursday that a proposal to reimagine bank supervisory practices is meant to empower rather than handcuff supervisors by limiting the scope of their examinations.
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A new research report this week found AI could 'unlock' $370 billion in profits for banks, though they're not yet ready to capture it. But big-bank executives say they are already seeing measurable results from their generative and traditional AI investments.
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Jerry Plush had helmed the South Florida-based bank for nearly five years before agreeing to depart this week. News of the leadership change comes little more than a week after Amerant reported a 43% increase in nonperforming assets.
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Michael Barr said he believes artificial intelligence will have a positive long-term impact on the economy, though it may cause job losses in the short term.
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