MONETT, Mo. - (07/28/04) Credit union outsourcer JackHenry & Associates reported Tuesday that net income for itsfiscal fourth quarter ended June 30 rose 25% to $17.6 million, or19 cents a share, up from $14.1 million, or 16 cents a share forthe same period last year. Revenues climbed 15% to $126 million forthe fourth quarter. As a result, the company reported fiscal yearearnings of $62.3 million, or 68 cents a share, up 26% over lastyears earnings. For the year, revenues for thecompanys core support and services operations were up 20% to$311 million, while license revenues were up 30% to $62.6million.
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Synovus Financial demonstrated at an industry conference how it is using Microsoft's Copilot to help its staff address customers' concerns.
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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.
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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.
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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.
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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.
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But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
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